504 Willoughby Ave · New York, NY 11206

$2,500,000

8 bd · 0.0 ba · 3,324 sqft · MultiFamily public records · 155 Days on market

Built 1901 1,933 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 +18.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Amazing, charming 4-unit brownstone in the heart of Clinton Hill, Brooklyn. Ideally located within walking distance to shops, dining, and everyday conveniences. This well-maintained, income-producing property offers classic brownstone character combined with strong rental potential in one of Brooklyn’s most vibrant neighborhoods.

Key facts

• 4 unit brownstone
• 1,933 sq ft lot
• Built 1901

Tags

• 4 UNIT BROWNSTONE
• INCOME PRODUCING PROPERTY
• CLASSIC BROWNSTONE CHARACTER
• STRONG RENTAL POTENTIAL
• VIBRANT NEIGHBORHOODS

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Quadruplex
• Construction: Brownstone exterior
• Exterior features: Brownstone construction; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; Three 3-bedroom units
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; Finished full basement

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $2.50M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $562/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 $2.14M (14.6% below list).
• Recommended offer: $2.14M (14.6% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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 (+5.0%/yr); 59 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $21,360/mo this rent would consume 417% of the median local household income ($61k/yr) (locally 7470% 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 $267k of equity ($17k loan paydown + $250k 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 + 5.0% rent growth), your $700k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$430k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($2.20M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $500k; list at $2.50M implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $2,136,000 (14.6% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 15% 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. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.85% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.21×
• Total profit: $1,548,383
• Equity at exit: $2,252,198

10-year hold

• IRR: 24.7%
• Equity multiple: 7.49×
• Total profit: $4,543,692
• Equity at exit: $4,856,950

Cash invested: $700,000 (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 11206

• Home prices YoY: 4.2%
• Rents YoY: 5.0%
• Active inventory: 59
• Price-to-rent: 39.0×

Monthly cashflow live

• Estimated rent: $21,360 high
• Mortgage (P&I): −$13,110
• Tax from tax record: −$475 /mo · $5,695/yr
• Insurance: −$1,042
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,486
• Net cashflow: $2,248

Break-even live

Break-even rent $18,515

Max offer price $2,500,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$21,360
Total (4 units)			$21,360

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: $625,000
• Closing costs: $75,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $2,500,000 Active 155 DOM
2. 2026-06-17
   days on market $2,500,000 Active 154 DOM
3. 2026-06-15
   days on market $2,500,000 Active 152 DOM
4. 2026-06-13
   days on market $2,500,000 Active 150 DOM
5. 2026-06-10
   days on market $2,500,000 Active 146 DOM
6. 2026-06-08
   days on market $2,500,000 Active 145 DOM
7. 2026-06-04
   days on market $2,500,000 Active 141 DOM
8. 2026-06-03
   days on market $2,500,000 Active 140 DOM
9. 2026-06-01
   days on market $2,500,000 Active 138 DOM
10. 2026-05-31
    days on market $2,500,000 Active 137 DOM
11. 2026-03-11
    price $2,500,000
12. 2026-01-14
    listed $3,500,000 Active
13. 2005-05-18
    soldstatus $500,000

ⓘ 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: $5,695 · $475/mo
• Projected year-2 tax: $23,973 · $1,998/mo
• Expected delta: +$18,277/yr (+$1,523/mo · 320.9%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $256,320
• − Mortgage interest: −$140,039
• − Property taxes: −$5,695
• − Insurance: −$12,500
• − Repairs & maintenance: −$20,506
• − Management: −$20,506
• − Depreciation: −$72,727
• Taxable loss: −$15,653
• Est. tax savings @ 24.0%: +$3,757
• After-tax cash flow: $30,731/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): 93,020
• Household income: $61,430
• Rent vs Own: 88.9% rent · 11.1% own
• Severe rent burden: 7470.0

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 0.70)
• Race & ethnicity: White 37% Hispanic / Latino 36% Black 18% Two or more races 11% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 14% Dominican 9%
• Common ancestry: Romanian 2% Italian 2% Lithuanian 1%
• Foreign-born: 20% · Canada, China, Jamaica
• Languages at home: 44% English-only · Spanish 30% German/W. Germanic 16% Chinese 4%

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: ▲ 17.52%
• Current HPI: 438.9997
• Rent YoY: ▲ 5.05%
• 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

+400.0% since first listed

3 events — show timeline

• 2026-03-11 Price Changed $2,500,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Listed $3,500,000 OneKey® MLS as Distributed by MLS Grid
• 2005-05-18 Sold (Public Records) $500,000 Public Records

Property tax history

+5.2%/yr

Latest (2024): $5,695 · +4.8% YoY. Source: county tax records.