1204 E 84th St · New York, NY 11236

$849,888

4 bd · 3.6 ba · 2,290 sqft · MultiFamily public records · 139 Days on market

Built 1940 2,000 sqft lot Est $971k · 12% under

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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 +13.4/30.0
• ARV discount +13.1/15.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• 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

All Brick Corner Lot Two(2) Family, 5 Bedroom Home. Three Electric Meters and Two Water Tanks. This House Is Primed to Update, Generate Income and Move In. Updated Boiler, Water Tanks and Good Roof. First Floor Has Front Porch and Access To the Spacious Back and Side Yards. Two Bedrooms, Large Eat In Kitchen, Spacious Livingroom/Dining Room, Shared Bathroom and Two Large Bedrooms. The Upper Unit Duplex Has Three Bedrooms, One and One Half Bathrooms. The Large Driveway Can Hold Up to Three Cars. Near: Bus, Trains, Shops, Canarsie Park and More!

Key facts

• 2,000 sq ft lot
• Built 1940
• Listed 139 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $21 ($257/yr) — positive. Per door: $11/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 $686k (19.3% below list).
• Recommended offer: $686k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 228 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,862/mo this rent would consume 101% of the median local household income ($81k/yr) (locally 4225% 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 $6k of loan paydown is wiped out by about $25k 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 139 days — a 12% lower offer ($748k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $375k; list at $850k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $686,200 (19.3% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 19% 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $970,960
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1268 E 84th St	0.10mi	5/2.5 (+1)	2,220 (-3%)	4mo	$990,000	$446	77
15 Paerdegat 12th St	0.27mi	3/— (-1)	2,450 (+7%)	3mo	$1,040,000	$424	68
8011 Avenue K	0.23mi	5/2.5 (+1)	2,440 (+7%)	9mo	$970,000	$398	61
1160 E 86th St	0.12mi	4/2.0	1,976 (-14%)	15mo	$920,000	$466	53
747 E 78th St	0.58mi	5/2.5 (+1)	2,214 (-3%)	12mo	$975,000	$440	48
9609 Avenue M	0.66mi	5/3.5 (+1)	2,466 (+8%)	5mo	$920,000	$373	47
602 E 81 St	0.75mi	5/3.5 (+1)	2,250 (-2%)	14mo	$840,000	$373	45
729 E 81 St	0.55mi	4/3.0	2,109 (-8%)	18mo	$1,150,000	$545	43
1389 E 93rd St	0.49mi	5/3.0 (+1)	2,612 (+14%)	20mo	$950,000	$364	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-136,540
• Equity at exit: $126,721

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-117,899
• Equity at exit: $73,483

Cash invested: $237,969 (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 11236

• Active inventory: 228
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $6,862 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$589 /mo · $7,062/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,441
• Net cashflow: $21

Break-even live

Break-even rent $6,835

Max offer price $849,888

Occupancy floor 95%

Sensitivity live

Price	-10% $503	-5% $262	+0% $21	+5% $-219	+10% $-460
Rent	-10% $-521	-5% $-250	+0% $21	+5% $293	+10% $564
Rate	-1.0pp $449	-0.5pp $238	base $21	+0.5pp $-199	+1.0pp $-423

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.8	$6,862
Total (2 units)			$6,862

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: $212,472
• Closing costs: $25,497
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2023-06-21
   status Pending
2. 2023-03-25
   status Active
3. 2022-11-07
   status Pending
4. 2022-09-17
   listed $849,888 Active
5. 2002-05-01
   soldstatus $375,000
6. 1994-02-09
   soldstatus $228,000
7. 1987-09-24
   soldstatus $265,000
8. 1984-10-10
   soldstatus $139,000

ⓘ 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: $7,062 · $589/mo
• Projected year-2 tax: $10,713 · $893/mo
• Expected delta: +$3,651/yr (+$304/mo · 51.7%)

ⓘ 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) · 51% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 14 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: $82,344
• − Mortgage interest: −$47,607
• − Property taxes: −$7,062
• − Insurance: −$4,249
• − Repairs & maintenance: −$6,588
• − Management: −$6,588
• − Depreciation: −$24,724
• Taxable loss: −$14,473
• Est. tax savings @ 24.0%: +$3,474
• After-tax cash flow: $3,731/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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: Predominantly Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

+511.4% since first listed

8 events — show timeline

• 2023-06-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-03-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-09-17 Listed $849,888 OneKey® MLS as Distributed by MLS Grid
• 2002-05-01 Sold (Public Records) $375,000 Public Records
• 1994-02-09 Sold (Public Records) $228,000 Public Records
• 1987-09-24 Sold (Public Records) $265,000 Public Records
• 1984-10-10 Sold (Public Records) $139,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $7,062 · -2.4% YoY. Source: county tax records.