381 Sumpter St · New York, NY 11233

$1,900,000

12 bd · 6.0 ba · 5,400 sqft · MultiFamily · 33 Days on market

Built 1908 Good condition 2,500 sqft lot

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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 +20.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks

Alta Real Estate is proud to present 381 Sumpter Street, a substantial six-family brick, stablized multifamily asset offering a verified 7.5% cap rate in the Bed-Stuy/Ocean Hill section of Brooklyn. Built in 1908 and spanning approximately 5,400 square feet on a 25' x 100' lot, this three-story income-producing property is configured as six oversized residences, each featuring a highly marketable two-bedroom, one-bath layout with a dedicated home office. These flexible floorplans are well suited to today's renter demand, offering the space, utility, and work-from-home functionality that continue to drive strong leasing performance across central Brooklyn. Commuter friendly & Easy ac

Key facts

• Multifamily asset
• New electric
• Oversized residences

Tags

• MULTIFAMILY ASSET
• INCOME PRODUCING PROPERTY
• OVERSIZED RESIDENCES
• DEDICATED HOME OFFICE
• NEW ELECTRIC
• NEW ROOF

Property features AI

Finance

• Other: 6 total units (multi-unit property)
• Financial info: Annual tax amount reported

Exterior

• Home design: 3-story building; Entry level is 1
• Construction: Green building
• Exterior features: Property has a view; Lot roughly 2,500 sq ft with dimensions ~100 x 25

Interior

• Bedrooms: Total of 22 rooms (includes bedrooms and living spaces)
• Bathrooms: 6 full bathrooms
• Interior features: Smoke-free building; Has basement (other type)
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1-bath units multifamily listed at $1.90M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.90M).
• Recommended offer: $1.84M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+6.4%/yr); 152 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $19,984/mo this rent would consume 384% of the median local household income ($62k/yr) (locally 6960% 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 $203k of equity ($13k loan paydown + $190k 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 + 6.4% rent growth), your $532k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$327k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($1.84M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 39% 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 $1,843,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.05% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 3.40×
• Total profit: $1,275,863
• Equity at exit: $1,711,671

10-year hold

• IRR: 27.1%
• Equity multiple: 8.13×
• Total profit: $3,791,493
• Equity at exit: $3,691,282

Cash invested: $532,000 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 47.5×

Monthly cashflow live

• Estimated rent: $19,984 high
• Mortgage (P&I): −$9,964
• Tax est. 1.5%: −$2,375 /mo · $28,500/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,197
• Net cashflow: $2,657

Break-even live

Break-even rent $16,621

Max offer price $1,900,000

Occupancy floor 82%

Sensitivity live

Price	-10% $3,970	-5% $3,313	+0% $2,657	+5% $2,000	+10% $1,344
Rent	-10% $1,078	-5% $1,868	+0% $2,657	+5% $3,446	+10% $4,236
Rate	-1.0pp $3,614	-0.5pp $3,140	base $2,657	+0.5pp $2,165	+1.0pp $1,664

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$19,986
Total (6 units)			$19,984

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: $475,000
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,900,000 Active 33 DOM
2. 2026-06-18
   days on market $1,900,000 Active 30 DOM
3. 2026-06-17
   days on market $1,900,000 Active 29 DOM
4. 2026-06-16
   days on market $1,900,000 Active 28 DOM
5. 2026-06-15
   days on market $1,900,000 Active 27 DOM
6. 2026-06-13
   days on market $1,900,000 Active 25 DOM
7. 2026-06-10
   days on market $1,900,000 Active 21 DOM
8. 2026-06-08
   days on market $1,900,000 Active 20 DOM
9. 2026-06-08
   days on market $1,900,000 Active 19 DOM
10. 2026-06-04
    days on market $1,900,000 Active 16 DOM
11. 2026-06-03
    days on market $1,900,000 Active 15 DOM
12. 2026-06-02
    days on market $1,900,000 Active 14 DOM
13. 2026-06-01
    days on market $1,900,000 Active 13 DOM
14. 2026-05-31
    days on market $1,900,000 Active 12 DOM
15. 2026-05-19
    listed $1,900,000 Active
16. 2022-10-31
    price $1,900,000

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% 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: $239,808
• − Mortgage interest: −$106,430
• − Property taxes: −$28,500
• − Insurance: −$9,500
• − Repairs & maintenance: −$19,185
• − Management: −$19,185
• − Depreciation: −$55,273
• Taxable income: $1,736
• Est. tax owed @ 24.0%: −$417
• After-tax cash flow: $31,466/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 · 12 photos

Good 75/100 Cosmetic rehab

This six-family property in Bed-Stuy/Ocean Hill is in good condition with modern amenities and a solid structure. It offers a good investment opportunity with minimal repairs and maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Replace window screens — Improves energy efficiency and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Replace window screens — Improves energy efficiency and property value ↑

ⓘ 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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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 (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% Other Indo-European 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-19 Listed $1,900,000 RLS at REBNY
• 2022-10-31 Price Changed $1,900,000 BNYMLS