450 Newport St · New York, NY 11207

$1,080,000

8 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 34 Days on market

Built 1910 3,000 sqft lot Est $1058k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.0/30.0
• ARV discount +6.6/15.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Good income. R6 zoning. This is a two-family attached measuring 30 by 100 feet, Parking:3~4 spaces The basement is finished, has standing shower and toilet. and rooms. the electrical wiring has been completely updated. The first floor consists of three bedrooms, a living room, a kitchen, and one bathroom. The second floor features four bedrooms, a living room, a kitchen, and one bathroom. Both the roof and the windows are in good condition. Deliver vacant.

Key facts

• 3,000 sq ft lot
• Built 1910
• Listed 33 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Electricity connected
• Home design: Duplex
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Not waterfront

Interior

• Bedrooms: First-floor bedroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: First-floor bedroom; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $1.08M.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive. Per door: $70/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $823k (23.8% below list).
• Recommended offer: $823k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 254 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $8,228/mo this rent would consume 175% of the median local household income ($57k/yr) (locally 7510% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($1.05M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $435k; list at $1.08M implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $822,800 (23.8% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $1,058,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Hinsdale St	0.06mi	8/2.0	2,160 (0%)	6mo	$977,000	$452	92
442 Newport St	0.01mi	8/3.0	2,040 (-6%)	7mo	$999,000	$490	80

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.51×
• Total profit: $-147,245
• Equity at exit: $161,032

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-35,584
• Equity at exit: $93,379

Cash invested: $302,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 254
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $8,228 medium
• Mortgage (P&I): −$5,664
• Tax from tax record: −$246 /mo · $2,956/yr
• Insurance: −$450
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,728
• Net cashflow: $140

Break-even live

Break-even rent $8,051

Max offer price $1,080,000

Occupancy floor 93%

Sensitivity live

Price	-10% $751	-5% $446	+0% $140	+5% $-166	+10% $-471
Rent	-10% $-510	-5% $-185	+0% $140	+5% $465	+10% $790
Rate	-1.0pp $684	-0.5pp $415	base $140	+0.5pp $-140	+1.0pp $-424

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$8,228
Total (2 units)			$8,228

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $270,000
• Closing costs: $32,400
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $1,080,000 Active 34 DOM
2. 2026-06-18
   days on market $1,080,000 Active 31 DOM
3. 2026-06-17
   days on market $1,080,000 Active 30 DOM
4. 2026-06-16
   days on market $1,080,000 Active 29 DOM
5. 2026-06-15
   days on market $1,080,000 Active 28 DOM
6. 2026-06-13
   days on market $1,080,000 Active 26 DOM
7. 2026-06-10
   days on market $1,080,000 Active 22 DOM
8. 2026-06-08
   days on market $1,080,000 Active 21 DOM
9. 2026-06-08
   days on market $1,080,000 Active 20 DOM
10. 2026-06-04
    days on market $1,080,000 Active 17 DOM
11. 2026-06-03
    days on market $1,080,000 Active 16 DOM
12. 2026-06-02
    days on market $1,080,000 Active 15 DOM
13. 2026-06-01
    days on market $1,080,000 Active 14 DOM
14. 2026-05-31
    days on market $1,080,000 Active 13 DOM
15. 2026-05-18
    listed $1,080,000 Active
16. 2016-09-16
    historical
17. 2016-04-27
    listed $729,000 New
18. 2016-01-25
    historical
19. 2014-04-25
    listed $450,000
20. 2006-06-09
    soldstatus $435,000
21. 2004-08-03
    soldstatus $378,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,956 · $246/mo
• Projected year-2 tax: $10,604 · $884/mo
• Expected delta: +$7,648/yr (+$637/mo · 258.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $98,736
• − Mortgage interest: −$60,497
• − Property taxes: −$2,956
• − Insurance: −$5,400
• − Repairs & maintenance: −$7,899
• − Management: −$7,899
• − Depreciation: −$31,418
• Taxable loss: −$17,333
• Est. tax savings @ 24.0%: +$4,160
• After-tax cash flow: $5,841/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Kings County · 2,614,986 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 2,847,441 people
• By 2030: 2,937,006 · +3.1%
• By 2040: 3,095,491 · +8.7%
• By 2050: 3,228,968 · +13.4%
• By 2075: 3,321,723 · +16.7%
• By 2100: 3,111,387 · +9.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Kings

• 2024 margin: Solid D (+44.0) · D 72.0% · R 28.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 59.4pp · 2024: 44.0pp
• All cycles: 2024: D+44.0 2020: D+54.8 2016: D+61.8 2012: D+63.9 2008: D+59.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+185.7% since first listed

7 events — show timeline

• 2026-05-18 Listed $1,080,000 OneKey® MLS as Distributed by MLS Grid
• 2016-09-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-04-27 Listed $729,000 OneKey® MLS as Distributed by MLS Grid
• 2016-01-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-04-25 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2006-06-09 Sold (Public Records) $435,000 Public Records
• 2004-08-03 Sold (Public Records) $378,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,956 · -1.5% YoY. Source: county tax records.