1035 Victory Blvd · New York, NY 10301

$639,900

6 bd · 6.0 ba · 852 sqft · MultiFamily public records · 27 Days on market

Built 1901 3,300 sqft lot

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Why this score? — see what drove the C- 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 +18.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• 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

Desirable doctor's row location! Cash buyers preferred. Fully renovated 2 family house, hardwood floors, custom interior doors, newer appliances, huge backyard, very long driveway for 5 cars. Great Investment In Perfect Location. Close To Everything, Minutes To VZ Bridge. Tenants occupied, no leases. Basement: Finished, Walk out, big windows, family room with door to yard, 1/2 bath, closet, storage, utility room. Level 1: Entry closet, kitchen, living room, 2 small bedrooms, full bath Level 2: Entry closet, kitchen, living room, 1 bedroom, full bath.

Key facts

• Fully renovated
• Newer appliances
• Huge backyard

Tags

• FULLY RENOVATED
• HARDWOOD FLOORS
• CUSTOM INTERIOR DOORS
• NEWER APPLIANCES
• HUGE BACKYARD
• LONG DRIVEWAY

Property features AI

Finance

• Other: Annual tax amount listed (not included per instructions)
• Financial info: Multi-family income detail: Unit 1 rent $1,500/month

Exterior

• Parking: Off-street parking (no attached garage)
• Utilities: 220 volt electric; Natural gas; Public water and sewer (implied)
• Home design: 3-story multifamily building; Total of 2 units; Building area total 1,344
• Construction: Brick and vinyl siding construction; Property in excellent condition; Year built: approximate
• Exterior features: Lot approximately 0.08 acres (33 x 100); Zoning: R2; Off-street parking

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Hot water heating; Has cooling (units); 220 volt electric service
• Interior features: Finished basement; Central air conditioning (units)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $640k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive. Per door: $288/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 $603k (5.7% below list).
• Recommended offer: $603k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• Market conditions: Rents rising fast (+6.1%/yr); 263 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $6,032/mo this rent would consume 85% of the median local household income ($86k/yr) (locally 2008% 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y 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 $220k; list at $640k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $603,200 (5.7% below list)

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 1901 — 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: 0.94% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-47,867
• Equity at exit: $95,411

10-year hold

• IRR: 5.9%
• Equity multiple: 1.50×
• Total profit: $89,267
• Equity at exit: $55,327

Cash invested: $179,172 (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 10301

• Rents YoY: 6.1%
• Active inventory: 263
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $6,032 medium
• Mortgage (P&I): −$3,356
• Tax from tax record: −$567 /mo · $6,806/yr
• Insurance: −$267
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,267
• Net cashflow: $576

Break-even live

Break-even rent $5,303

Max offer price $639,900

Occupancy floor 85%

Sensitivity live

Price	-10% $938	-5% $757	+0% $576	+5% $395	+10% $214
Rent	-10% $99	-5% $338	+0% $576	+5% $814	+10% $1,052
Rate	-1.0pp $898	-0.5pp $739	base $576	+0.5pp $410	+1.0pp $241

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$6,032
Total (2 units)			$6,032

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: $159,975
• Closing costs: $19,197
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $639,900 Active 27 DOM
2. 2026-06-17
   days on market $639,900 Active 26 DOM
3. 2026-06-16
   days on market $639,900 Active 25 DOM
4. 2026-06-15
   days on market $639,900 Active 24 DOM
5. 2026-06-13
   days on market $639,900 Active 22 DOM
6. 2026-06-10
   days on market $639,900 Active 18 DOM
7. 2026-06-08
   days on market $639,900 Active 17 DOM
8. 2026-06-08
   days on market $639,900 Active 16 DOM
9. 2026-06-04
   days on market $639,900 Active 13 DOM
10. 2026-06-03
    days on market $639,900 Active 12 DOM
11. 2026-06-02
    days on market $639,900 Active 11 DOM
12. 2026-06-01
    days on market $639,900 Active 10 DOM
13. 2026-05-31
    days on market $639,900 Active 9 DOM
14. 2026-05-22
    listed $639,900 Active
15. 2021-08-24
    historical
16. 2020-03-09
    price $579,000
17. 2020-02-17
    listed $599,900 Active
18. 2017-10-30
    historical
19. 2017-08-30
    price $408,000
20. 2017-08-30
    price $400,000
21. 2017-08-30
    status Active
22. 2017-08-15
    historical
23. 2017-08-04
    price $440,000
24. 2017-08-02
    historical
25. 2017-07-28
    listed $408,000 Active
26. 2017-06-23
    listed $399,000 Active
27. 2017-06-13
    historical
28. 2017-05-26
    listed $440,000 Active
29. 2016-07-06
    status Pending
30. 2016-04-19
    historical
31. 2016-04-19
    historical
32. 2016-04-19
    status Active
33. 2016-03-22
    historical
34. 2016-03-10
    listed $263,000 Active
35. 2014-12-13
    historical
36. 2014-11-28
    historical
37. 2014-11-28
    historical
38. 2011-03-15
    listed $309,000
39. 2010-05-12
    listed $310,000
40. 2007-05-18
    soldstatus $220,000

ⓘ 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: $6,806 · $567/mo
• Projected year-2 tax: $8,810 · $734/mo
• Expected delta: +$2,004/yr (+$167/mo · 29.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,384
• − Mortgage interest: −$35,844
• − Property taxes: −$6,806
• − Insurance: −$3,200
• − Repairs & maintenance: −$5,791
• − Management: −$5,791
• − Depreciation: −$18,615
• Taxable loss: −$3,663
• Est. tax savings @ 24.0%: +$879
• After-tax cash flow: $7,788/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

+190.9% since first listed

27 events — show timeline

• 2026-05-22 Listed $639,900 SIBORMLS
• 2021-08-24 Listing Removed — SIBORMLS
• 2020-03-09 Price Changed $579,000 SIBORMLS
• 2020-02-17 Listed $599,900 SIBORMLS
• 2017-10-30 Listing Removed — SIBORMLS
• 2017-08-30 Price Changed $408,000 SIBORMLS
• 2017-08-30 Price Changed $400,000 SIBORMLS
• 2017-08-30 Relisted — SIBORMLS
• 2017-08-15 Listing Removed — SIBORMLS
• 2017-08-04 Price Changed $440,000 SIBORMLS
• 2017-08-02 Listing Removed — SIBORMLS
• 2017-07-28 Listed $408,000 SIBORMLS
• 2017-06-23 Listed $399,000 SIBORMLS
• 2017-06-13 Listing Removed — SIBORMLS
• 2017-05-26 Listed $440,000 SIBORMLS
• 2016-07-06 Pending — SIBORMLS
• 2016-04-19 Listing Removed — SIBORMLS
• 2016-04-19 Listing Removed — SIBORMLS
• 2016-04-19 Relisted — SIBORMLS
• 2016-03-22 Listing Removed — SIBORMLS
• 2016-03-10 Listed $263,000 SIBORMLS
• 2014-12-13 Listing Removed — SIBORMLS
• 2014-11-28 Listing Removed — SIBORMLS
• 2014-11-28 Listing Removed — SIBORMLS
• 2011-03-15 Listed $309,000 SIBORMLS
• 2010-05-12 Listed $310,000 SIBORMLS
• 2007-05-18 Sold (Public Records) $220,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $6,806 · +6.0% YoY. Source: county tax records.