59 Bay 22nd St · New York, NY 11214

$1,478,000

66 bd · 36.0 ba · 5,544 sqft · MultiFamily · 271 Days on market

Built 1925 2,997 sqft lot ↓ 1% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +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: 6 units. estimate disagrees with records

Listing remarks

Bensonhurst-Extra Wide 6 Family semi-detached brick home, 5-two bedroom apartments + 1-one bedroom, literally steps to the bustling 86th street corridor, local and express buses along with the D train are less than a minute away, a wonderful investment opportunity, well maintained building, basement has front and rear entrances, roof is eight years old, six year old heating system, Annual Rent Roll $94,200 with increases coming up, perfect 1031 Exchange property, Lot size 31'x97' House Size 24'x77' (over 5,500 sq, ft. plus the basement), Taxes $22,593, Year Built 1925, present all offers!!!

Key facts

• One one bedroom
• D train
• 2,997 sq ft lot

Tags

• SEMI-DETACHED BRICK HOME
• FIVE TWO BEDROOM APARTMENTS
• ONE ONE BEDROOM
• STEPS TO 86TH STREET CORRIDOR
• LOCAL AND EXPRESS BUSES
• D TRAIN

Property features AI

Finance

• Other: Building footprint approximately 1,848 (dimensions 77.00 x 24.00); Total building area reported: 5,544; Zoning: R5
• Financial info: Building contains 6 residential units; Current total rent income reported: $7,950; Financing options: Exchange considered, bank mortgage, or cash

Exterior

• Parking: No on-site parking
• Utilities: Electric with circuit breakers; Gas hot water; Gas heating
• Home design: Semi-detached residential building; 3 stories (units listed across three levels); Flat/rubber roof
• Construction: Brick exterior; Block foundation
• Exterior features: Front, side and back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Level 1: 3 bedrooms; Level 2: 4 bedrooms; Level 3: 4 bedrooms
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 6 full bathrooms total; Level 1: 2 full bathrooms; Level 2: 2 full bathrooms; Level 3: 2 full bathrooms
• Heating & cooling: Steam/radiator heating; No central AC units reported
• Interior features: Refrigerator; Stove

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/?-bath units multifamily listed at $1.48M.

Deal economics

• At list price, monthly cash flow is $9k ($111k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.48M).
• Recommended offer: $1.30M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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.
• Market conditions: Rents rising fast (+5.9%/yr); 334 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $24,646/mo this rent would consume 449% of the median local household income ($66k/yr) (locally 6028% 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 $10k of loan paydown is wiped out by about $44k 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 + 5.9% rent growth), your $414k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($1.30M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,300,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% 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 1925 — 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: 1.67% ✓
• Cap rate: 13.81%
• Cash-on-cash: 26.84%
• DSCR: 2.19
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.02×
• Total profit: $423,617
• Equity at exit: $220,375

10-year hold

• IRR: 33.6%
• Equity multiple: 4.50×
• Total profit: $1,448,166
• Equity at exit: $127,790

Cash invested: $413,840 (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 11214

• Rents YoY: 5.9%
• Active inventory: 334
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $24,646 medium
• Mortgage (P&I): −$7,751
• Tax est. 1.5%: −$1,848 /mo · $22,170/yr
• Insurance: −$616
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,176
• Net cashflow: $9,256

Break-even live

Break-even rent $12,929

Max offer price $1,478,000

Occupancy floor 57%

Sensitivity live

Price	-10% $10,278	-5% $9,767	+0% $9,256	+5% $8,746	+10% $8,235
Rent	-10% $7,309	-5% $8,283	+0% $9,256	+5% $10,230	+10% $11,203
Rate	-1.0pp $10,001	-0.5pp $9,632	base $9,256	+0.5pp $8,873	+1.0pp $8,484

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	—	$24,648
Total (6 units)			$24,646

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: $369,500
• Closing costs: $44,340
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $1,478,000 Active 271 DOM
2. 2026-06-18
   days on market $1,478,000 Active 268 DOM
3. 2026-06-17
   days on market $1,478,000 Active 267 DOM
4. 2026-06-15
   days on market $1,478,000 Active 265 DOM
5. 2026-06-13
   days on market $1,478,000 Active 263 DOM
6. 2026-06-10
   days on market $1,478,000 Active 259 DOM
7. 2026-06-08
   days on market $1,478,000 Active 258 DOM
8. 2026-06-03
   days on market $1,478,000 Active 253 DOM
9. 2026-06-01
   days on market $1,478,000 Active 251 DOM
10. 2026-05-31
    days on market $1,478,000 Active 250 DOM
11. 2025-11-18
    price $1,478,000
12. 2025-09-22
    listed $1,499,000 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $295,752
• − Mortgage interest: −$82,791
• − Property taxes: −$22,170
• − Insurance: −$7,390
• − Repairs & maintenance: −$23,660
• − Management: −$23,660
• − Depreciation: −$42,996
• Taxable income: $93,084
• Est. tax owed @ 24.0%: −$22,340
• After-tax cash flow: $88,734/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

-1.4% since first listed

2 events — show timeline

• 2025-11-18 Price Changed $1,478,000 BNYMLS
• 2025-09-22 Listed $1,499,000 BNYMLS