9507 Foster Ave · New York, NY 11236

$1,199,000

None bd · 16.0 ba · — sqft · MultiFamily · 84 Days on market

Good condition 2,500 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 +26.2/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

9507 Foster Ave is a rarely available brick four family home with close access to the L-train and will be delivered vacant. All 4 units enjoy supreme light throughout with windows on 3 sides and extra tall ceilings. This property is a tremendous value for both end users and investors alike looking to capitalize on the competitive Canarsie rental market. Additional benefits include a shared drive with room for parking at the rear, a brand-new roof under warranty, and a well-maintained façade as well as mechanicals. Contact the listing agent for all showings and inquiries. MLS Approve- No Financial provide due to property being vacant

Key facts

• Room for parking
• Brand-new roof
• Shared drive

Tags

• CLOSE ACCESS TO L-TRAIN
• SHARED DRIVE
• ROOM FOR PARKING
• BRAND-NEW ROOF
• WELL-MAINTAINED FAÇADE
• EXTRA TALL CEILINGS

Property features AI

Finance

• Financial info: Financing options: cash, bank mortgage, exchange considered

Exterior

• Parking: Shared driveway; Other parking attributes
• Utilities: 110V electric; Gas for heating and hot water
• Home design: Semi-detached residential building; Flat roof; Brick exterior; Zoned R5B
• Construction: Brick construction; Poured concrete foundation
• Exterior features: Back yard

Interior

• Kitchen: Stove; Refrigerator; Dishwasher not listed
• Flooring: Carpeting; Hardwood floors; Parquet floors; Tile floors
• Bathrooms: Three full bathrooms; One 3/4 bathroom
• Heating & cooling: Steam/radiator heating; No central AC units reported
• Interior features: Dryer; Laundry area; Refrigerator; Stove; Washer; Finished full basement
• Laundry & utility: Washer and dryer in unit / laundry area; Gas hot water

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $1.20M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $762/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.20M).
• Recommended offer: $1.13M (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 228 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,347/mo this rent would consume 211% of the median local household income ($81k/yr) (locally 4225% 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 $8k of loan paydown is wiped out by about $36k 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 + 3.0% rent growth), your $336k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $1,127,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.90%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
927 E 96th St	0.07mi	7/3.0	—	1mo	$810,000	—	63
675 E 103rd St	0.51mi	—/—	3,514	3mo	$1,200,000	$341	62
870 E 93rd St	0.16mi	6/3.0	1,980	2mo	$849,000	$429	58
892 Mother Gaston Blvd	0.64mi	—/—	2,000	1mo	$535,000	$268	56
1017 E 92nd St	0.22mi	5/3.0	1,672	2mo	$925,000	$553	56
1044 E 96th St	0.25mi	4/2.5	2,040	2mo	$725,000	$355	54
1071 E 92nd St	0.30mi	8/4.5	3,400	0mo	$1,100,000	$324	53
583 E 86th St	0.47mi	4/2.0	1,800	4mo	$675,000	$375	43
670 E 85th St	0.59mi	3/3.0	1,560	1mo	$859,000	$551	39
8818 Avenue A	0.64mi	4/2.0	1,900	1mo	$698,000	$367	37
120 E 88th St	0.65mi	4/2.0	1,701	2mo	$443,625	$261	36
594 E 92nd St	0.62mi	1/0.5	—	3mo	$1,225,000	—	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $63
• Equity at exit: $178,775

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $250,915
• Equity at exit: $103,668

Cash invested: $335,720 (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 11236

• Active inventory: 228
• Price-to-rent: 27.9×

Monthly cashflow live

• Estimated rent: $14,347 medium
• Mortgage (P&I): −$6,288
• Tax est. 1.5%: −$1,499 /mo · $17,985/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,013
• Net cashflow: $3,048

Break-even live

Break-even rent $10,489

Max offer price $1,199,000

Occupancy floor 74%

Sensitivity live

Price	-10% $3,877	-5% $3,462	+0% $3,048	+5% $2,634	+10% $2,220
Rent	-10% $1,915	-5% $2,481	+0% $3,048	+5% $3,615	+10% $4,182
Rate	-1.0pp $3,652	-0.5pp $3,353	base $3,048	+0.5pp $2,737	+1.0pp $2,421

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$14,348
Total (4 units)			$14,347

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 Saratoga Ave Brooklyn, NY	3.0	1.5	1300	$3,350	$2.58	25d	1	0.97mi
256 E 55th St #1 Brooklyn, NY	2.0	1.0	1200	$2,600	$2.17	25d	1	1.02mi
1261 E 101st St Brooklyn, NY	3.0	1.5	936	$3,700	$3.95	25d	1	1.03mi

Listing history 2 events

1. 2026-05-19
   status Pending
2. 2026-02-22
   listed $1,199,000 Active

ⓘ 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 7/10 Severe 7 d/yr ≥97°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: $172,164
• − Mortgage interest: −$67,163
• − Property taxes: −$17,985
• − Insurance: −$5,995
• − Repairs & maintenance: −$13,773
• − Management: −$13,773
• − Depreciation: −$34,880
• Taxable income: $18,595
• Est. tax owed @ 24.0%: −$4,463
• After-tax cash flow: $32,114/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 · 13 photos

Good 80/100 Cosmetic rehab

This four-family home is in good condition with minimal repairs needed. Painting and landscaping can significantly enhance its value and appeal to potential buyers or renters.

Repairs flagged

• Minor Kitchen cabinets — Cabinets may have minor scratches or dents that can be repaired.
• Minor Kitchen countertops — Countertops may have minor scratches or stains that can be polished or repainted.
• Minor Living room flooring — Flooring may have minor scuffs or marks that can be cleaned or polished.

Value-add opportunities

• Both Painting — Painting the interior and exterior can enhance the home's curb appeal and value.
• Both Landscaping — Landscaping can improve the home's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets may have minor scratches or dents that can be repaired.	Minor	$500–3,000
Kitchen countertops · Countertops may have minor scratches or stains that can be polished or repainted.	Minor	$500–3,000
Living room flooring · Flooring may have minor scuffs or marks that can be cleaned or polished.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting — Painting the interior and exterior can enhance the home's curb appeal and value. ↑
• Both Landscaping — Landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑

ⓘ 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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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 (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-19 Pending — BNYMLS
• 2026-02-22 Listed $1,199,000 BNYMLS