1431 Hancock St · New York, NY 11237

$1,348,000

7 bd · 2.0 ba · 3,300 sqft · MultiFamily public records · 80 Days on market

Built 1910 2,000 sqft lot Est $1353k · at est.

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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 +25.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.7/15.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 1431 Hancock Street, a prime Brooklyn multi-level property in the heart of Bushwick offering approximately 3,300 square feet of interior space and 20x55 building size. This well-maintained multi-family building presents a compelling opportunity to own in an area known for its strong rental demand, vibrant culture, and continued appreciation. Spacious interiors, high ceilings, and large windows allow for abundant natural light, creating bright and comfortable living spaces. Well-proportioned bedrooms, functional kitchens, and inviting common areas make each unit highly livable and appealing to tenants. The property’s condition reflects consistent upkeep, offering a strong fo

Key facts

• 2,000 sq ft lot
• Built 1910
• Listed 80 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity available and connected; Natural gas available and connected; Sewer available and connected; Water available and connected
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.35M).
• Recommended offer: $1.27M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+4.8%/yr); 56 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,841/mo this rent would consume 195% of the median local household income ($85k/yr) (locally 4577% 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 $144k of equity ($9k loan paydown + $135k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $377k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$232k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $1,267,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.03% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $1,353,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16-91 Linden St	0.45mi	6/3.0 (-1)	3,240 (-2%)	4mo	$1,635,000	$505	63
1234 Madison St	0.35mi	7/3.0	3,000 (-9%)	3mo	$1,192,000	$397	62
86 Cornelia St	0.66mi	8/3.0 (+1)	3,300 (0%)	1mo	$1,370,000	$415	59
6616 60th St	0.69mi	7/2.0	3,396 (+3%)	9mo	$1,150,000	$339	55
153 Weirfield St	0.52mi	7/3.0	3,000 (-9%)	12mo	$1,230,000	$410	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.78% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 3.51×
• Total profit: $946,381
• Equity at exit: $1,214,385

10-year hold

• IRR: 28.0%
• Equity multiple: 8.14×
• Total profit: $2,693,233
• Equity at exit: $2,618,868

Cash invested: $377,440 (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 11237

• Home prices YoY: 3.1%
• Rents YoY: 4.8%
• Active inventory: 56
• Price-to-rent: 32.5×

Monthly cashflow live

• Estimated rent: $13,841 high
• Mortgage (P&I): −$7,069
• Tax from tax record: −$358 /mo · $4,297/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,907
• Net cashflow: $2,946

Break-even live

Break-even rent $10,112

Max offer price $1,348,000

Occupancy floor 74%

Sensitivity live

Price	-10% $3,709	-5% $3,327	+0% $2,946	+5% $2,564	+10% $2,182
Rent	-10% $1,852	-5% $2,399	+0% $2,946	+5% $3,492	+10% $4,039
Rate	-1.0pp $3,624	-0.5pp $3,288	base $2,946	+0.5pp $2,596	+1.0pp $2,241

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$13,840
Total (4 units)			$13,841

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: $337,000
• Closing costs: $40,440
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1,348,000 Active 80 DOM
2. 2026-06-17
   days on market $1,348,000 Active 79 DOM
3. 2026-06-15
   days on market $1,348,000 Active 77 DOM
4. 2026-06-13
   days on market $1,348,000 Active 75 DOM
5. 2026-06-10
   days on market $1,348,000 Active 71 DOM
6. 2026-06-08
   days on market $1,348,000 Active 70 DOM
7. 2026-06-08
   days on market $1,348,000 Active 69 DOM
8. 2026-06-04
   days on market $1,348,000 Active 66 DOM
9. 2026-06-03
   days on market $1,348,000 Active 65 DOM
10. 2026-06-01
    days on market $1,348,000 Active 63 DOM
11. 2026-05-31
    days on market $1,348,000 Active 62 DOM
12. 2026-03-30
    listed $1,348,000 Active

ⓘ 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: $4,297 · $358/mo
• Projected year-2 tax: $13,539 · $1,128/mo
• Expected delta: +$9,242/yr (+$770/mo · 215.1%)

ⓘ 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 40% 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: $166,092
• − Mortgage interest: −$75,509
• − Property taxes: −$4,297
• − Insurance: −$6,740
• − Repairs & maintenance: −$13,287
• − Management: −$13,287
• − Depreciation: −$39,215
• Taxable income: $13,756
• Est. tax owed @ 24.0%: −$3,302
• After-tax cash flow: $32,045/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): 45,334
• Household income: $85,196
• Rent vs Own: 87.8% rent · 12.2% own
• Severe rent burden: 4577.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 26% Two or more races 17% Black 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 15% Cuban 1% Dominican 9%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 48% English-only · Spanish 41% Chinese 3% Other Indo-European 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: ▲ 14.38%
• Current HPI: 481.1869
• Rent YoY: ▲ 4.78%
• 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

1 event — show timeline

• 2026-03-30 Listed $1,348,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $4,297 · -2.4% YoY. Source: county tax records.