4415 Atlantic Ave · New York, NY 11224

$1,990,000

10 bd · 8.0 ba · 3,450 sqft · MultiFamily public records · 57 Days on market

Built 2014 5,500 sqft lot

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Why this score? — see what drove the C+ 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 +20.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +6.3/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

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 MLS

Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

Key facts

• Gated community
• Private driveway
• Three balconies

Tags

• GATED COMMUNITY
• PRIVATE OUTDOOR SPACE
• THREE BALCONIES
• BACKYARD
• PRIVATE DRIVEWAY
• LAUNDRY ROOM

Property features AI

Finance

• Other: On-site utilities expense reported
• Financial info: Building contains 5 units (multifamily); Typical tenant status: month-to-month; Current rents by unit: $3,800; $1,650; $3,800; $2,000; $1,900; Financing considered: exchange, bank mortgage, or cash

Exterior

• Parking: Private driveway; 4 parking spaces
• Utilities: Electric: 110V and 220V; Hot water: Gas; Heating: Gas (baseboard and hot air)
• Home design: Detached residential building; Wood frame construction; Shingle roof; Block foundation; Zoned R3-1
• Construction: Wood frame construction; Stucco exterior; Shingle roof; Block foundation
• Exterior features: Side yard; Fully fenced yard; Stucco exterior

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Five-unit building with unit bedroom counts: 3-bedroom, 1-bedroom, 4-bedroom, 2-bedroom, 1-bedroom
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: Six full bathrooms and two 3/4 bathrooms across the building
• Heating & cooling: Gas hot water; Gas heating fuel; Baseboard heat; Hot air heat; Multiple A/C units
• Interior features: Wall A/C units (multiple); Deck; Patio/garden; Porch; Terrace
• Laundry & utility: Washer and dryer; On-site laundry (card-operated)

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.6-bath units multifamily listed at $1.99M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $490/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.95M (2.0% below list).
• Recommended offer: $1.93M (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 114 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 $19,493/mo this rent would consume 536% of the median local household income ($44k/yr) (locally 4426% 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 $113k of equity ($14k loan paydown + $99k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $557k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$181k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($1.93M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $660k; list at $1.99M implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,930,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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. 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: 0.98% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.25×
• Total profit: $694,812
• Equity at exit: $1,125,531

10-year hold

• IRR: 20.9%
• Equity multiple: 4.87×
• Total profit: $2,156,153
• Equity at exit: $1,940,717

Cash invested: $557,200 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 42.5×

Monthly cashflow live

• Estimated rent: $19,493 medium
• Mortgage (P&I): −$10,436
• Tax from tax record: −$1,683 /mo · $20,194/yr
• Insurance: −$829
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,094
• Net cashflow: $2,452

Break-even live

Break-even rent $16,390

Max offer price $1,990,000

Occupancy floor 82%

Sensitivity live

Price	-10% $3,578	-5% $3,015	+0% $2,452	+5% $1,888	+10% $1,325
Rent	-10% $912	-5% $1,682	+0% $2,452	+5% $3,222	+10% $3,992
Rate	-1.0pp $3,454	-0.5pp $2,958	base $2,452	+0.5pp $1,936	+1.0pp $1,411

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.6	$19,495
Total (5 units)			$19,493

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: $497,500
• Closing costs: $59,700
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $1,990,000 Active 57 DOM
2. 2026-06-18
   days on market $1,990,000 Active 54 DOM
3. 2026-06-17
   days on market $1,990,000 Active 53 DOM
4. 2026-06-16
   days on market $1,990,000 Active 52 DOM
5. 2026-06-15
   days on market $1,990,000 Active 51 DOM
6. 2026-06-13
   days on market $1,990,000 Active 49 DOM
7. 2026-06-10
   days on market $1,990,000 Active 45 DOM
8. 2026-06-08
   days on market $1,990,000 Active 44 DOM
9. 2026-06-08
   days on market $1,990,000 Active 43 DOM
10. 2026-06-04
    days on market $1,990,000 Active 40 DOM
11. 2026-06-03
    days on market $1,990,000 Active 39 DOM
12. 2026-06-01
    days on market $1,990,000 Active 37 DOM
13. 2026-05-31
    days on market $1,990,000 Active 36 DOM
14. 2026-04-25
    listed $1,990,000 Active
15. 2020-04-15
    soldstatus $660,000 Sold 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

16. 2016-05-11
    historical 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

17. 2016-04-20
    status Pending 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

18. 2016-04-13
    historical 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

19. 2015-08-23
    status Pending 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

20. 2015-08-19
    historical 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

21. 2012-07-12
    soldstatus $660,000
22. 2011-11-05
    listed $699,000 219-char remark

    Show marketing remark (219 chars)

    Beatiful 5 unit property in a gated beach community, 1 block from the beach. Amazing property to live in as well as a solid investment. Apartments are all in mint condition and most units include a terrace. A must SEE!!

23. 1996-03-21
    soldstatus $40,000
24. 1986-06-26
    soldstatus $195,000
25. 1986-06-26
    soldstatus $195,000

ⓘ 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: $26,913 · $2,243/mo
• Expected delta: +$6,718/yr (+$560/mo · 33.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 34% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $233,916
• − Mortgage interest: −$111,471
• − Property taxes: −$20,194
• − Insurance: −$9,950
• − Repairs & maintenance: −$18,713
• − Management: −$18,713
• − Depreciation: −$57,891
• Taxable loss: −$3,017
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $30,144/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+920.5% since first listed

12 events — show timeline

• 2026-04-25 Listed $1,990,000 BNYMLS
• 2020-04-15 Sold (MLS) $660,000 BNYMLS
• 2016-05-11 Delisted — BNYMLS
• 2016-04-20 Pending — BNYMLS
• 2016-04-13 Delisted — BNYMLS
• 2015-08-23 Pending — BNYMLS
• 2015-08-19 Delisted — BNYMLS
• 2012-07-12 Sold (Public Records) $660,000 Public Records
• 2011-11-05 Listed $699,000 BNYMLS
• 1996-03-21 Sold (Public Records) $40,000 Public Records
• 1986-06-26 Sold (Public Records) $195,000 Public Records
• 1986-06-26 Sold (Public Records) $195,000 Public Records

Property tax history

+5.1%/yr

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