99 E 96th St · New York, NY 11212

$6,000,000

8134 bd · 6889.0 ba · 22,292 sqft · MultiFamily · 50 Days on market

Built 1926 Fair condition 7,500 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 83 units. estimate disagrees with records

Listing remarks

99 East 96th Street is offered as part of an 83-unit, 3-building portfolio including 448 East 94th Street and 455 East 94th Street. This East Flatbush, Brooklyn portfolio consists of three pre-war, red-brick multi-family properties featuring a mix of studio to three-bedroom apartments. The assets are fully occupied and 100% rent-stabilized with zero rent control. Priced at a discount as a package deal, the portfolio offers significant long-term appreciation potential alongside immediate cash flow at a current cap rate exceeding 8.5%. Tenants benefit from proximity to retail corridors along Rockaway Parkway and Utica Avenue, as well as transit via multiple bus lines and the 2, 3, 4, and 5 su

Key facts

• Efficient layouts
• Fully occupied units
• Conveniently located

Tags

• PRE-WAR MULTIFAMILY BUILDINGS
• FULLY OCCUPIED UNITS
• RENT-STABILIZED UNITS
• EFFICIENT LAYOUTS
• STRONG STABLE RENTAL DEMAND
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Financing available: Bank mortgage or cash

Exterior

• Parking: No parking
• Utilities: 110V electric; Hot water: Gas or oil; Heating fuel: Gas or oil
• Home design: Detached building; Residential property; Zoned R6
• Construction: Brick construction; Asphalt/tar and flat roof; Poured concrete foundation; Building footprint approximately 6,600 sq ft; Building dimensions about 88.00 x 75.00
• Exterior features: Back yard; Side yard

Interior

• Kitchen: Refrigerator; Stove
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 83 full bathrooms
• Heating & cooling: Steam/radiator heating; No central AC units
• Interior features: Refrigerator; Stove

What this means for you Summary

Snapshot

• This is a 83 × 98-bed/83.0-bath units multifamily listed at $6.00M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $162k ($1.94M/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($257k rent vs $6.00M).
• Recommended offer: $5.82M (3.0% below list) — sets the bar for market timing.
• Cap rate 38.6% 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 soft (-0.6%/yr); 65 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $257,144/mo this rent would consume 7462% of the median local household income ($41k/yr) (locally 9035% 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 $41k of loan paydown is wiped out by about $180k 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 + 0.0% rent growth), your $1.68M cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($5.82M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $5,820,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 4.29% ✓
• Cap rate: 38.63%
• Cash-on-cash: 115.49%
• DSCR: 6.14
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.10×
• Total profit: $8,575,462
• Equity at exit: $894,620

10-year hold

• IRR: —
• Equity multiple: 11.61×
• Total profit: $17,830,385
• Equity at exit: $518,770

Cash invested: $1,680,000 (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 11212

• Home prices YoY: -34.3%
• Rents YoY: -0.6%
• Active inventory: 65
• Price-to-rent: 161.4×

Monthly cashflow live

• Estimated rent: $257,144 medium
• Mortgage (P&I): −$31,465
• Tax est. 1.5%: −$7,500 /mo · $90,000/yr
• Insurance: −$2,500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$54,000
• Net cashflow: $161,679

Break-even live

Break-even rent $52,487

Max offer price $6,000,000

Occupancy floor 32%

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

Units	Beds	Baths	Est. rent
▸ 83× units	98	83	$257,134
Total (83 units)			$257,144

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: $1,500,000
• Closing costs: $180,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $6,000,000 Active 50 DOM
2. 2026-06-17
   days on market $6,000,000 Active 49 DOM
3. 2026-06-16
   days on market $6,000,000 Active 48 DOM
4. 2026-06-15
   days on market $6,000,000 Active 47 DOM
5. 2026-06-13
   days on market $6,000,000 Active 45 DOM
6. 2026-06-10
   days on market $6,000,000 Active 41 DOM
7. 2026-06-08
   days on market $6,000,000 Active 40 DOM
8. 2026-06-08
   days on market $6,000,000 Active 39 DOM
9. 2026-06-04
   days on market $6,000,000 Active 36 DOM
10. 2026-06-03
    days on market $6,000,000 Active 35 DOM
11. 2026-06-01
    days on market $6,000,000 Active 33 DOM
12. 2026-05-31
    days on market $6,000,000 Active 32 DOM
13. 2026-04-29
    listed $6,000,000 Active
14. 2026-03-31
    price $6,000,000

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

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 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: $3,085,728
• − Mortgage interest: −$336,093
• − Property taxes: −$90,000
• − Insurance: −$30,000
• − Repairs & maintenance: −$246,858
• − Management: −$246,858
• − Depreciation: −$174,545
• Taxable income: $1,961,373
• Est. tax owed @ 24.0%: −$470,729
• After-tax cash flow: $1,469,420/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

The property is in fair condition with cosmetic repairs needed. Painting the exterior and interior would significantly enhance its value and appeal.

Repairs flagged

• Minor exterior paint — Some discoloration and minor damage
• Minor interior paint — Some wear visible

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and value
• Both paint interior — Fresh paint would improve the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Some discoloration and minor damage	Minor	$500–3,000
interior paint · Some wear visible	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve curb appeal and value ↑
• Both paint interior — Fresh paint would improve the home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 89,020
• Household income: $41,355
• Rent vs Own: 86.8% rent · 13.2% own
• Severe rent burden: 9035.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 20% Two or more races 12% White 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 3% Ukrainian 1%
• Foreign-born: 34% · Canada, Mexico, China
• Languages at home: 77% English-only · Spanish 14% French/Haitian/Cajun 4% Arabic 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: ▼ -140.90%
• Current HPI: 269.7955
• Rent YoY: ▼ -0.59%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-29 Listed $6,000,000 BNYMLS
• 2026-03-31 Price Changed $6,000,000 BNYMLS