5015 4th Ave · New York, NY 11220

$1,688,000

3 bd · 8.0 ba · 7,360 sqft · MultiFamily public records · 65 Days on market

Built 1921 2,700 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 +7.8/10.0
• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.8/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Well keep Cash-flowing multifamily investment in prime Brooklyn Sunset Park. The 8 families brick stability building. It has 6.4 Cap rate income. Upside possibility with below market rent units and newly renovation units. Location proximity to transit. Set on zoning R7A, C2-4 land with great potential. It is cash on your table investment. Call for showing we has keys.

Key facts

• 2,700 sq ft lot
• Listed 64 days

Property features AI

Finance

• Other: Utility expense listed as $890

Exterior

• Parking: No designated parking
• Utilities: Gas hot water; Gas heating fuel; Electric: Other
• Home design: Attached building; Residential property; Flat roof
• Construction: Brick exterior; Brick construction; Other foundation
• Exterior features: Front yard; Back yard

Interior

• Bedrooms: One unit with 3 bedrooms (located on 1st floor, leased)
• Flooring: Ceramic floors; Laminate floors
• Bathrooms: Eight full baths in the building; Unit has 1 full bath
• Heating & cooling: Baseboard heating; No central air units
• Interior features: Cellar; Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/8.0-bath multifamily listed at $1.69M.

Deal economics

• At list price, monthly cash flow is $-3k ($-34k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.19M (29.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (36.7% below list).
• Recommended offer: $1.07M (36.7% below list) — sets the bar for 1% rule.
• Cap rate 4.3% 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: Rents rising fast (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,684/mo this rent would consume 183% of the median local household income ($70k/yr) (locally 6563% 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 $107k of equity ($12k loan paydown + $95k appreciation (5.6% 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 ~$171k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($1.59M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $875k; list at $1.69M implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $1,068,400 (36.7% 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 65 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.10%
• DSCR: 0.68
• GRM: 13.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.70×
• Total profit: $328,968
• Equity at exit: $1,022,254

10-year hold

• IRR: 13.1%
• Equity multiple: 3.66×
• Total profit: $1,257,513
• Equity at exit: $1,821,135

Cash invested: $472,640 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 52.7×

Monthly cashflow live

• Estimated rent: $10,684 medium
• Mortgage (P&I): −$8,852
• Tax from tax record: −$1,683 /mo · $20,194/yr
• Insurance: −$703
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,244
• Net cashflow: $-2,798

Break-even live

Break-even rent $14,226

Max offer price $1,193,744

Occupancy floor —

Sensitivity live

Price	-10% $-1,842	-5% $-2,320	+0% $-2,798	+5% $-3,276	+10% $-3,753
Rent	-10% $-3,642	-5% $-3,220	+0% $-2,798	+5% $-2,376	+10% $-1,954
Rate	-1.0pp $-1,948	-0.5pp $-2,369	base $-2,798	+0.5pp $-3,235	+1.0pp $-3,680

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,684
Total (4 units)			$10,684

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: $422,000
• Closing costs: $50,640
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,688,000 Active 65 DOM
2. 2026-06-18
   days on market $1,688,000 Active 62 DOM
3. 2026-06-17
   days on market $1,688,000 Active 61 DOM
4. 2026-06-15
   days on market $1,688,000 Active 59 DOM
5. 2026-06-13
   days on market $1,688,000 Active 57 DOM
6. 2026-06-10
   days on market $1,688,000 Active 53 DOM
7. 2026-06-08
   days on market $1,688,000 Active 52 DOM
8. 2026-06-08
   days on market $1,688,000 Active 51 DOM
9. 2026-06-04
   days on market $1,688,000 Active 48 DOM
10. 2026-06-03
    days on market $1,688,000 Active 47 DOM
11. 2026-06-01
    days on market $1,688,000 Active 45 DOM
12. 2026-05-31
    days on market $1,688,000 Active 44 DOM
13. 2026-04-17
    listed $1,688,000 Active
14. 2006-08-24
    soldstatus $875,000
15. 1990-04-13
    soldstatus $250,000
16. 1990-04-13
    soldstatus $250,000

ⓘ 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: $20,194 · $1,683/mo
• Projected year-2 tax: $24,361 · $2,030/mo
• Expected delta: +$4,167/yr (+$347/mo · 20.6%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $128,208
• − Mortgage interest: −$94,554
• − Property taxes: −$20,194
• − Insurance: −$8,440
• − Repairs & maintenance: −$10,257
• − Management: −$10,257
• − Depreciation: −$49,105
• Taxable loss: −$64,599
• Est. tax savings @ 24.0%: +$15,504
• After-tax cash flow: $-18,071/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

+575.2% since first listed

4 events — show timeline

• 2026-04-17 Listed $1,688,000 BNYMLS
• 2006-08-24 Sold (Public Records) $875,000 Public Records
• 1990-04-13 Sold (Public Records) $250,000 Public Records
• 1990-04-13 Sold (Public Records) $250,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $20,194 · +2.2% YoY. Source: county tax records.