555 Hemlock St · New York, NY 11208

$500,000

4 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 1 Days on market

Built 1910 2,000 sqft lot Est $733k · 32% under

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Why this score? — see what drove the B+ 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 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

ACCEPTED OFFER Calling All Investors! Welcome to this two-family semi-attached home offering great potential and income opportunity. The first unit features three bedrooms and one bathroom, while the second unit offers two bedrooms and one bathroom. The finished basement includes four additional bedrooms and a full bathroom, providing ample space for extended living or rental use. The home needs some TLC, making it ideal for buyers looking to renovate and add value.

Key facts

• 2,000 sq ft lot
• Built 1910

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $786/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Cap rate 10.1% 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 (+6.1%/yr); 193 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,912/mo this rent would consume 114% of the median local household income ($62k/yr) (locally 7574% 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 $3k of loan paydown is wiped out by about $15k 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $140k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $350k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $275k; list at $500k implies a 82% 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: major wind risk, 49% 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 $500,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $732,640
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
545 Logan St	0.39mi	5/3.0 (+1)	1,640 (+8%)	5mo	$630,000	$384	56
477 Ridgewood Ave	0.73mi	4/2.0	1,416 (-7%)	3mo	$473,000	$334	52
105-18 77th St	0.49mi	4/2.0	1,720 (+13%)	5mo	$710,000	$413	51
119 Sheridan Ave	0.31mi	5/3.0 (+1)	1,663 (+9%)	12mo	$899,000	$541	51
361 Chestnut Ct	0.33mi	5/3.0 (+1)	1,680 (+10%)	10mo	$999,990	$595	50
93-09 76th St	0.66mi	5/2.0 (+1)	1,468 (-3%)	12mo	$790,000	$538	48
3344 Atlantic Ave	0.44mi	3/3.0 (-1)	1,400 (-8%)	12mo	$675,000	$482	48
1023 New Lots Ave	0.58mi	5/3.0 (+1)	1,596 (+5%)	11mo	$875,000	$548	47
92-45 75th St	0.67mi	3/2.0 (-1)	1,600 (+5%)	11mo	$765,000	$478	46
74 Fountain Ave	0.44mi	5/3.0 (+1)	1,728 (+14%)	8mo	$910,000	$527	41
473 Berriman St	0.73mi	4/2.0	1,720 (+13%)	9mo	$825,000	$480	36

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.27×
• Total profit: $38,276
• Equity at exit: $74,552

10-year hold

• IRR: 18.6%
• Equity multiple: 2.76×
• Total profit: $246,101
• Equity at exit: $43,231

Cash invested: $140,000 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $5,912 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$267 /mo · $3,209/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $1,573

Break-even live

Break-even rent $3,921

Max offer price $500,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,856	-5% $1,714	+0% $1,573	+5% $1,431	+10% $1,290
Rent	-10% $1,106	-5% $1,339	+0% $1,573	+5% $1,806	+10% $2,040
Rate	-1.0pp $1,824	-0.5pp $1,700	base $1,573	+0.5pp $1,443	+1.0pp $1,311

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,912
Total (2 units)			$5,912

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13214 81st St Ozone Park, NY	3.0	1.0	1280	$4,100	$3.20	13d	1	0.70mi
132-13 81st St #1 Jamaica, NY	3.0	1.0	1280	$4,100	$3.20	4d	1	0.73mi
294 Ridgewood Ave Brooklyn, NY	4.0	2.0	1200	$3,500	$2.92	26d	1	0.77mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	26d	1	0.96mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	9d	1	0.96mi
8836 77th St Woodhaven, NY	4.0	2.0	1500	$4,200	$2.80	26d	1	0.97mi
14912 83rd St Howard Beach, NY	3.0	2.0	1250	$3,200	$2.56	26d	1	0.98mi
10541 90th St Ozone Park, NY	3.0	2.0	1264	$4,111	$3.25	26d	1	1.13mi
156-49 76th St Unit 2 Jamaica, NY	3.0	2.0	1250	$3,300	$2.64	18d	1	1.20mi
8812 86th St Woodhaven, NY	3.0	2.0	2200	$3,000	$1.36	16d	1	1.22mi
9309 103rd Ave Ozone Park, NY	3.0	1.5	1892	$3,000	$1.59	26d	1	1.29mi
85-20 85th Rd Unit 2nd Floor Jamaica, NY	3.0	1.0	1100	$3,200	$2.91	20d	1	1.49mi
10144 98th St Ozone Park, NY	3.0	1.0	2112	$3,450	$1.63	26d	1	1.50mi

Listing history 9 events

1. 2026-01-16
   price $500,000
2. 2025-11-05
   status Pending
3. 2025-10-31
   listed $850,000 Active
4. 2025-05-06
   listed $850,000 Active
5. 2004-06-07
   soldstatus $275,000
6. 2002-01-04
   soldstatus $193,000
7. 1998-08-12
   soldstatus $160,000
8. 1988-11-02
   soldstatus $160,000
9. 1987-02-24
   soldstatus $90,000

ⓘ 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: $3,209 · $267/mo
• Projected year-2 tax: $5,830 · $486/mo
• Expected delta: +$2,620/yr (+$218/mo · 81.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% 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: $70,944
• − Mortgage interest: −$28,008
• − Property taxes: −$3,209
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,676
• − Management: −$5,676
• − Depreciation: −$14,545
• Taxable income: $11,330
• Est. tax owed @ 24.0%: −$2,719
• After-tax cash flow: $16,152/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+455.6% since first listed

9 events — show timeline

• 2026-01-16 Price Changed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-31 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-06 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2004-06-07 Sold (Public Records) $275,000 Public Records
• 2002-01-04 Sold (Public Records) $193,000 Public Records
• 1998-08-12 Sold (Public Records) $160,000 Public Records
• 1988-11-02 Sold (Public Records) $160,000 Public Records
• 1987-02-24 Sold (Public Records) $90,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $3,209 · +3.3% YoY. Source: county tax records.