1918 8th Ave · New York, NY 11215

$1,835,000

12 bd · 6.0 ba · 5,628 sqft · MultiFamily public records · 335 Days on market

Built 1931 2,667 sqft lot

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Why this score? — see what drove the A- 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 +29.8/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Located in prime Park Slope, is a solid 6-family brick building featuring six spacious 2-bedroom, 1-bath apartments. Building size is 27' x 70' on a 27' x 100' lot, offering excellent layout and light throughout. A rare investment opportunity in one of Brooklyn’s most sought-after neighborhoods. Close to Prospect Park, subways, shopping, and dining. Whether you're expanding your portfolio or seeking a stable income-producing asset with upside potential, this property delivers on all fronts.

Key facts

• Light throughout
• Close to subways
• 2,667 sq ft lot

Tags

• 6-FAMILY BRICK BUILDING
• SPACIOUS 2-BEDROOM APARTMENTS
• LIGHT THROUGHOUT
• RARE INVESTMENT OPPORTUNITY
• CLOSE TO PROSPECT PARK
• CLOSE TO SUBWAYS

Property features AI

Finance

• Other: Zoning: M1-1; Six-unit multi-family building; Unit rents: current/estimated — Unit 1: $2,000 (leased); Unit 2: $2,500 (leased); Unit 3: $1,500 (leased); Unit 4: $1,500 (leased); Unit 5: projected $2,900; Unit 6: $2,400 (leased)
• Financial info: Financing available: bank mortgage or cash; Utility expense indicated (approximate): $700

Exterior

• Parking: No dedicated parking
• Utilities: 110V electric; Gas hot water; Gas heating (hot water delivery)
• Home design: Attached building; Residential property; Flat roof; Poured concrete foundation
• Construction: Brick exterior/construction; Building footprint approximately 1,890 sq ft; Building dimensions about 70.00 x 27.00
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Six 2-bedroom units (units on floors 1–3)
• Flooring: Hardwood floors; Tile floors; Other flooring (see remarks)
• Bathrooms: Six full bathrooms (one in each unit)
• Heating & cooling: Gas-fired hot water heat; Two air-conditioning units
• Interior features: Refrigerator; Stove; Other built-in features; Two AC units; Full basement
• Laundry & utility: Utility expense listed (approximate): $700

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.83M.

Deal economics

• At list price, monthly cash flow is $7k ($81k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.83M).
• Recommended offer: $1.61M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 (+5.7%/yr); 248 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $23,434/mo this rent would consume 151% of the median local household income ($186k/yr) (locally 2372% 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 $196k of equity ($13k loan paydown + $184k 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 + 5.7% rent growth), your $514k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$315k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($1.61M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $190k; list at $1.83M implies a 866% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $1,614,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 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 1931 — 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: 1.28% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.69%
• DSCR: 1.70
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.67% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 3.90×
• Total profit: $1,491,646
• Equity at exit: $1,653,113

10-year hold

• IRR: 32.9%
• Equity multiple: 9.18×
• Total profit: $4,201,945
• Equity at exit: $3,565,001

Cash invested: $513,800 (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 11215

• Home prices YoY: 2.7%
• Rents YoY: 5.7%
• Active inventory: 248
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $23,434 medium
• Mortgage (P&I): −$9,623
• Tax from tax record: −$1,408 /mo · $16,899/yr
• Insurance: −$765
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,921
• Net cashflow: $6,717

Break-even live

Break-even rent $14,931

Max offer price $1,835,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$23,436
Total (6 units)			$23,434

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: $458,750
• Closing costs: $55,050
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $1,835,000 Active 335 DOM
2. 2026-06-17
   days on market $1,835,000 Active 334 DOM
3. 2026-06-15
   days on market $1,835,000 Active 332 DOM
4. 2026-06-13
   days on market $1,835,000 Active 330 DOM
5. 2026-06-10
   days on market $1,835,000 Active 326 DOM
6. 2026-06-08
   days on market $1,835,000 Active 325 DOM
7. 2026-06-03
   days on market $1,835,000 Active 320 DOM
8. 2026-06-01
   days on market $1,835,000 Active 318 DOM
9. 2026-05-31
   days on market $1,835,000 Active 317 DOM
10. 2025-07-18
    listed $1,835,000 Active
11. 1998-01-14
    soldstatus $190,000

ⓘ 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: $16,899 · $1,408/mo
• Projected year-2 tax: $23,955 · $1,996/mo
• Expected delta: +$7,056/yr (+$588/mo · 41.8%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $281,208
• − Mortgage interest: −$102,789
• − Property taxes: −$16,899
• − Insurance: −$9,175
• − Repairs & maintenance: −$22,497
• − Management: −$22,497
• − Depreciation: −$53,382
• Taxable income: $53,970
• Est. tax owed @ 24.0%: −$12,953
• After-tax cash flow: $67,652/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): 70,441
• Household income: $185,865
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 2372.0

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 White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 15% Two or more races 11% Asian 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 5% Scotch-Irish 5% Italian 3%
• Foreign-born: 18% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 9% Other Indo-European 4% Chinese 2%

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: ▲ 11.03%
• Current HPI: 417.4151
• Rent YoY: ▲ 5.67%
• 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

+865.8% since first listed

2 events — show timeline

• 2025-07-18 Listed $1,835,000 BNYMLS
• 1998-01-14 Sold (Public Records) $190,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $16,899 · -1.0% YoY. Source: county tax records.