1858 W 5th St · New York, NY 11223

$1,550,000

6 bd · 3.0 ba · 2,292 sqft · MultiFamily public records · 28 Days on market

Built 1920 2,400 sqft lot Est $1428k · 9% over

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Why this score? — see what drove the D 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 +13.6/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• ARV discount +3.7/15.0
• 1% rule +2.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 1858 West 5th Street, a spacious and tastefully updated multi-family residence set in the heart of Gravesend. Offering a strong combination of size, flexibility, and recent upgrades, this property is ideal for buyers seeking comfortable multi-generational living or the benefits of owner-occupied investment potential. The home is configured with a 2-bedroom unit on the main level, complete with hardwood floors, a beautifully renovated bath, and an oversized walk-in shower, while the upper level is presently arranged as a 3-bedroom with an impressive walk-in closet, with the option to restore it to a 4-bedroom layout. Spacious kitchens, well-proportioned rooms, and updated finishes add to the home's overall appeal. The lower level is finished and provides valuable additional space, including a summer kitchen, living area, 3/4 bath, laundry area, and an additional room with direct yard access. Extensive improvements have been made over the years, including siding, windows, brickwork, and interior updates completed in 2017, plus a new hot water heater installed in 2022. The exterior continues to impress with a fenced yard, brand-new Trex deck, welcoming front porch, and shared driveway. Set on a convenient Gravesend block near local shopping, dining, and transportation, this is a rare opportunity to own a versatile Brooklyn multi-family home with excellent upside. Don't miss your chance to own this exceptional property—contact us today to schedule your private tour.

Key facts

• Recent upgrades
• Renovated bath
• Walk in closet

Tags

• RECENT UPGRADES
• HARDWOOD FLOORS
• RENOVATED BATH
• WALK IN SHOWER
• WALK IN CLOSET
• SUMMER KITCHEN

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $1.55M.

Deal economics

• At list price, monthly cash flow is $78 ($935/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.21M (21.8% below list).
• Recommended offer: $1.21M (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• 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 228 David A Boody (math 56% / reading 67%, grade B+, #147 of 729 statewide, top 20%, 1,551 students, 76% 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 (+13.1%/yr); 219 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $12,128/mo this rent would consume 230% of the median local household income ($63k/yr) (locally 6011% 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 $11k of loan paydown is wiped out by about $46k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($1.53M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $180k; list at $1.55M implies a 761% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,212,800 (21.8% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $1,427,916
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Van Sicklen St	0.20mi	5/2.0 (-1)	2,242 (-2%)	3mo	$1,220,000	$544	75
1852 W 10th St	0.25mi	6/3.0	2,400 (+5%)	6mo	$1,780,000	$742	75
2045 W 11th St	0.42mi	6/4.0	2,280 (-0%)	1mo	$1,799,000	$789	75
1864 W 6th St	0.06mi	7/3.0 (+1)	2,560 (+12%)	2mo	$1,052,000	$411	71
231 Van Sicklen St	0.31mi	5/3.0 (-1)	2,400 (+5%)	2mo	$1,900,000	$792	71
2018 W 6th St	0.27mi	7/3.0 (+1)	2,200 (-4%)	5mo	$1,109,999	$505	71
1933 W 12th St	0.35mi	6/2.0	2,200 (-4%)	4mo	$1,600,000	$727	70
2301 W 7th St	0.72mi	6/3.0	2,271 (-1%)	4mo	$950,000	$418	61
25 Quentin Rd	0.47mi	5/3.0 (-1)	2,160 (-6%)	6mo	$960,000	$444	59
1652 Dahill Rd	0.40mi	6/3.0	2,048 (-11%)	6mo	$1,275,000	$623	59
1664 E 4th St	0.67mi	5/3.5 (-1)	2,520 (+10%)	1mo	$1,980,000	$786	44
2265 78th St	0.55mi	5/6.0 (-1)	2,538 (+11%)	2mo	$1,530,000	$603	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-182,670
• Equity at exit: $231,110

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $136,767
• Equity at exit: $134,016

Cash invested: $434,000 (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 11223

• Rents YoY: 13.1%
• Active inventory: 219
• Price-to-rent: 33.0×

Monthly cashflow live

• Estimated rent: $12,128 high
• Mortgage (P&I): −$8,128
• Tax from tax record: −$729 /mo · $8,748/yr
• Insurance: −$646
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,547
• Net cashflow: $78

Break-even live

Break-even rent $12,029

Max offer price $1,550,000

Occupancy floor 94%

Sensitivity live

Price	-10% $955	-5% $517	+0% $78	+5% $-361	+10% $-800
Rent	-10% $-880	-5% $-401	+0% $78	+5% $557	+10% $1,036
Rate	-1.0pp $858	-0.5pp $472	base $78	+0.5pp $-324	+1.0pp $-732

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$3,920
▸ 2× units	3	1.5	$8,208
Total (3 units)			$12,128

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: $387,500
• Closing costs: $46,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-07
   status Pending 1507-char remark

   Show marketing remark (1507 chars)

   Welcome to 1858 West 5th Street, a spacious and tastefully updated multi-family residence set in the heart of Gravesend. Offering a strong combination of size, flexibility, and recent upgrades, this property is ideal for buyers seeking comfortable multi-generational living or the benefits of owner-occupied investment potential. The home is configured with a 2-bedroom unit on the main level, complete with hardwood floors, a beautifully renovated bath, and an oversized walk-in shower, while the upper level is presently arranged as a 3-bedroom with an impressive walk-in closet, with the option to restore it to a 4-bedroom layout. Spacious kitchens, well-proportioned rooms, and updated finishes add to the home's overall appeal. The lower level is finished and provides valuable additional space, including a summer kitchen, living area, 3/4 bath, laundry area, and an additional room with direct yard access. Extensive improvements have been made over the years, including siding, windows, brickwork, and interior updates completed in 2017, plus a new hot water heater installed in 2022. The exterior continues to impress with a fenced yard, brand-new Trex deck, welcoming front porch, and shared driveway. Set on a convenient Gravesend block near local shopping, dining, and transportation, this is a rare opportunity to own a versatile Brooklyn multi-family home with excellent upside. Don't miss your chance to own this exceptional property—contact us today to schedule your private tour.

2. 2026-04-22
   status Pending
3. 2026-03-25
   listed $1,550,000 Active 1507-char remark

   Show marketing remark (1507 chars)

   Welcome to 1858 West 5th Street, a spacious and tastefully updated multi-family residence set in the heart of Gravesend. Offering a strong combination of size, flexibility, and recent upgrades, this property is ideal for buyers seeking comfortable multi-generational living or the benefits of owner-occupied investment potential. The home is configured with a 2-bedroom unit on the main level, complete with hardwood floors, a beautifully renovated bath, and an oversized walk-in shower, while the upper level is presently arranged as a 3-bedroom with an impressive walk-in closet, with the option to restore it to a 4-bedroom layout. Spacious kitchens, well-proportioned rooms, and updated finishes add to the home's overall appeal. The lower level is finished and provides valuable additional space, including a summer kitchen, living area, 3/4 bath, laundry area, and an additional room with direct yard access. Extensive improvements have been made over the years, including siding, windows, brickwork, and interior updates completed in 2017, plus a new hot water heater installed in 2022. The exterior continues to impress with a fenced yard, brand-new Trex deck, welcoming front porch, and shared driveway. Set on a convenient Gravesend block near local shopping, dining, and transportation, this is a rare opportunity to own a versatile Brooklyn multi-family home with excellent upside. Don't miss your chance to own this exceptional property—contact us today to schedule your private tour.

4. 2026-03-25
   listed $1,550,000 Active

   Show marketing remark (1507 chars)

   Welcome to 1858 West 5th Street, a spacious and tastefully updated multi-family residence set in the heart of Gravesend. Offering a strong combination of size, flexibility, and recent upgrades, this property is ideal for buyers seeking comfortable multi-generational living or the benefits of owner-occupied investment potential. The home is configured with a 2-bedroom unit on the main level, complete with hardwood floors, a beautifully renovated bath, and an oversized walk-in shower, while the upper level is presently arranged as a 3-bedroom with an impressive walk-in closet, with the option to restore it to a 4-bedroom layout. Spacious kitchens, well-proportioned rooms, and updated finishes add to the home's overall appeal. The lower level is finished and provides valuable additional space, including a summer kitchen, living area, 3/4 bath, laundry area, and an additional room with direct yard access. Extensive improvements have been made over the years, including siding, windows, brickwork, and interior updates completed in 2017, plus a new hot water heater installed in 2022. The exterior continues to impress with a fenced yard, brand-new Trex deck, welcoming front porch, and shared driveway. Set on a convenient Gravesend block near local shopping, dining, and transportation, this is a rare opportunity to own a versatile Brooklyn multi-family home with excellent upside. Don't miss your chance to own this exceptional property—contact us today to schedule your private tour.

5. 1989-03-24
   soldstatus $180,000

ⓘ 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: $8,748 · $729/mo
• Projected year-2 tax: $17,472 · $1,456/mo
• Expected delta: +$8,723/yr (+$727/mo · 99.7%)

ⓘ 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 7/10 Severe 7 d/yr ≥97°F today · 15 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: $145,536
• − Mortgage interest: −$86,824
• − Property taxes: −$8,748
• − Insurance: −$7,750
• − Repairs & maintenance: −$11,643
• − Management: −$11,643
• − Depreciation: −$45,091
• Taxable loss: −$26,163
• Est. tax savings @ 24.0%: +$6,279
• After-tax cash flow: $7,214/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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 0.65)
• Race & ethnicity: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+761.1% since first listed

5 events — show timeline

• 2026-05-07 Pending — SIBORMLS
• 2026-04-22 Pending — BNYMLS
• 2026-03-25 Listed $1,550,000 BNYMLS
• 2026-03-25 Listed $1,550,000 SIBORMLS
• 1989-03-24 Sold (Public Records) $180,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $8,748 · +3.5% YoY. Source: county tax records.