143 Kingsland Ave

New York, NY 11222

$4,999,999D-

54 bd · 42.0 ba · 1,976 sqft · Built 2026 · MultiFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $27,338/mo
• Mortgage (P&I): −$26,221
• Tax + insurance: −$8,333
• HOA: −$0
• Vac / Maint / Mgmt: −$5,741
• Net cashflow: $-12,957/mo
• Annual: $-155,482/yr
• Cap rate: 3.18%
• Cash-on-cash: -11.11%
• DSCR: 0.51
• 1% rule: 0.55%
• Cash to close: $1,400,000

Investor read

• This is a 6 × 9-bed/7.0-bath units multifamily listed at $5.00M.
• At list price, monthly cash flow is $-13k ($-155k/yr) — negative. Per door: $-2k/mo.
• To cash-flow at today's rent, offer at most $3.13M (37.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.73M (45.3% below list).
• It's been on market 139 days — a 12% lower offer ($4.40M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.73M (45.3% below list) — sets the bar for 1% rule.
• In year one you build about $535k of equity ($35k loan paydown + $500k appreciation (10.0% local appreciation)).
• 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 (+1.0%/yr); 104 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y 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 $900k; list at $5.00M implies a 456% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$859k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $27,338/mo this rent would consume 261% of the median local household income ($126k/yr) (locally 3139% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?