1016 Greene Ave · New York, NY 11221

$1,995,000

24 bd · None ba · 2,692 sqft · MultiFamily public records · 77 Days on market

Built 1931 1,600 sqft lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +0.6/10.0

Multi-family units

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

Listing remarks MLS

short sale,,,,will go fast

Key facts

• Private backyard
• Handicap accessible
• 1,600 sq ft lot

Tags

• RECENTLY RENOVATED PROPERTY
• HANDICAP ACCESSIBLE
• PRIVATE BACKYARD

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Heating & cooling: Electric cooling; Electric heating; Other heating
• Interior features: Open floor plan; Basement (full)

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 2×2bd/1.0ba units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $-3k ($-35k/yr) — negative. Per door: $-737/mo.
• To cash-flow at today's rent, offer at most $1.47M (26.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.11M (44.3% below list).
• Recommended offer: $1.11M (44.3% below list) — sets the bar for 1% rule.
• Cap rate 4.5% 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 (+5.2%/yr); 211 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,122/mo this rent would consume 156% of the median local household income ($86k/yr) (locally 8053% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $213k of equity ($14k loan paydown + $200k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$343k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($1.88M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $350k; list at $2.00M implies a 470% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $1,112,200 (44.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.56% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.34%
• DSCR: 0.72
• GRM: 14.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $922,172
• Equity at exit: $1,797,254

10-year hold

• IRR: 18.8%
• Equity multiple: 6.22×
• Total profit: $2,915,598
• Equity at exit: $3,875,846

Cash invested: $558,600 (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 11221

• Home prices YoY: 3.3%
• Rents YoY: 5.2%
• Active inventory: 211
• Price-to-rent: 62.9×

Monthly cashflow live

• Estimated rent: $11,122 high
• Mortgage (P&I): −$10,462
• Tax from tax record: −$442 /mo · $5,309/yr
• Insurance: −$831
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,336
• Net cashflow: $-2,949

Break-even live

Break-even rent $14,855

Max offer price $1,474,001

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$5,282
▸ 2× units	2	1	$5,840
Total (4 units)			$11,122

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: $498,750
• Closing costs: $59,850
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $1,995,000 Active 77 DOM
2. 2026-06-17
   days on market $1,995,000 Active 76 DOM
3. 2026-06-15
   days on market $1,995,000 Active 74 DOM
4. 2026-06-13
   days on market $1,995,000 Active 72 DOM
5. 2026-06-10
   days on market $1,995,000 Active 68 DOM
6. 2026-06-08
   days on market $1,995,000 Active 67 DOM
7. 2026-06-08
   days on market $1,995,000 Active 66 DOM
8. 2026-06-04
   days on market $1,995,000 Active 63 DOM
9. 2026-06-03
   days on market $1,995,000 Active 62 DOM
10. 2026-06-01
    days on market $1,995,000 Active 60 DOM
11. 2026-05-31
    days on market $1,995,000 Active 59 DOM
12. 2026-05-05
    status Active
13. 2026-05-05
    price $1,995,000
14. 2026-03-26
    listed $2,000,000 Active
15. 2024-04-01
    historical $2,700
16. 2024-03-19
    listed $2,700
17. 2024-03-11
    historical $2,700
18. 2024-03-01
    historical $2,700
19. 2024-02-12
    price $2,700
20. 2023-12-13
    listed $2,600
21. 2023-12-08
    price $2,300
22. 2023-11-29
    listed $2,500
23. 2020-04-15
    soldstatus $350,000 Sold 26-char remark

    Show marketing remark (26 chars)

    short sale,,,,will go fast

24. 2016-08-03
    soldstatus $550,000
25. 2015-05-22
    soldstatus $357,000
26. 2015-05-06
    historical 26-char remark

    Show marketing remark (26 chars)

    short sale,,,,will go fast

27. 2014-01-08
    listed $225,000 26-char remark

    Show marketing remark (26 chars)

    short sale,,,,will go fast

28. 2010-10-28
    historical
29. 2010-07-30
    price $229,000
30. 2009-10-28
    historical Under Contract
31. 2009-04-25
    historical
32. 2009-03-05
    listed $395,000
33. 2003-07-02
    soldstatus $370,000
34. 1995-09-06
    soldstatus $155,000

ⓘ 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: $5,309 · $442/mo
• Projected year-2 tax: $19,512 · $1,626/mo
• Expected delta: +$14,203/yr (+$1,184/mo · 267.6%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $133,464
• − Mortgage interest: −$111,751
• − Property taxes: −$5,309
• − Insurance: −$9,975
• − Repairs & maintenance: −$10,677
• − Management: −$10,677
• − Depreciation: −$58,036
• Taxable loss: −$72,961
• Est. tax savings @ 24.0%: +$17,511
• After-tax cash flow: $-17,880/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): 91,588
• Household income: $85,736
• Rent vs Own: 78.8% rent · 21.2% own
• Severe rent burden: 8053.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 37% Hispanic / Latino 32% White 20% Two or more races 15% Asian 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Dominican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Hispanic 1%
• Foreign-born: 27% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 24% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▲ 18.95%
• Current HPI: 597.7817
• Rent YoY: ▲ 5.15%
• 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

+1187.1% since first listed

23 events — show timeline

• 2026-05-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-05 Price Changed $1,995,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Listed $2,000,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-01 Rental Removed $2,700 ONEKEY
• 2024-03-19 Listed for Rent $2,700 ONEKEY
• 2024-03-11 Rental Removed $2,700 ONEKEY
• 2024-03-01 Rental Removed $2,700 ONEKEY
• 2024-02-12 Price Changed $2,700 ONEKEY
• 2023-12-13 Listed for Rent $2,600 ONEKEY
• 2023-12-08 Price Changed $2,300 ONEKEY
• 2023-11-29 Listed for Rent $2,500 ONEKEY
• 2020-04-15 Sold (MLS) $350,000 BNYMLS
• 2016-08-03 Sold (Public Records) $550,000 Public Records
• 2015-05-22 Sold (Public Records) $357,000 Public Records
• 2015-05-06 Delisted — BNYMLS
• 2014-01-08 Listed $225,000 BNYMLS
• 2010-10-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2010-07-30 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2009-10-28 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2009-04-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2009-03-05 Listed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2003-07-02 Sold (Public Records) $370,000 Public Records
• 1995-09-06 Sold (Public Records) $155,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $5,309 · -1.0% YoY. Source: county tax records.