758 Glenmore Ave · New York, NY 11208

$885,000

6 bd · 2.0 ba · 1,884 sqft · MultiFamily public records · 148 Days on market

Built 1901 2,500 sqft lot Est $933k · 5% under ↓ 2% since listing

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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 +14.5/30.0
• ARV discount +9.8/15.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• 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: 2 units. confirmed

Listing remarks

Everyone else is trying to sell their 2 family with tenants, but this one would be sold VACANT!! This two-family home is currently being used as a 1 family, but still has the gas stove hookup available for the second floor apartment. Located in Cypress Hills, this home presents an exceptional investment opportunity. Featuring 6 spacious bedrooms, 2 full baths, and a large basement, this property offers ample living space for both owners and tenants. Ideally located with convenient access to public transportation, including the J train at the Cleveland Street station, C train on Shepherd Ave, as well as multiple bus routes such as the Q24 on Atlantic Ave & Essex St, and the B14 on Sutt

Key facts

• Large basement
• Gas stove hookup
• 2,500 sq ft lot

Tags

• GAS STOVE HOOKUP
• LARGE BASEMENT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $885k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive. Per door: $65/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 $680k (23.2% below list).
• Recommended offer: $680k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+6.1%/yr); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,797/mo this rent would consume 131% of the median local household income ($62k/yr) (locally 7574% 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 $6k of loan paydown is wiped out by about $27k 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 148 days — a 12% lower offer ($779k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $679,700 (23.2% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 23% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.77% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $932,580
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
357 Elton St	0.07mi	6/3.0	1,748 (-7%)	10mo	$810,000	$463	72
560 Jerome St	0.56mi	6/2.0	1,920 (+2%)	4mo	$908,000	$473	68
278 Ashford St	0.19mi	6/3.0	1,676 (-11%)	4mo	$830,000	$495	65
307 Berriman St	0.33mi	6/4.0	2,112 (+12%)	1mo	$880,000	$417	56
623 Ashford St	0.57mi	7/3.0 (+1)	1,786 (-5%)	1mo	$1,120,000	$627	55
74 Fountain Ave	0.38mi	5/3.0 (-1)	1,728 (-8%)	8mo	$910,000	$527	52
432 Jamaica Ave	0.60mi	5/2.0 (-1)	2,040 (+8%)	3mo	$875,000	$429	51
545 Logan St	0.39mi	5/3.0 (-1)	1,640 (-13%)	5mo	$630,000	$384	47
733 Warwick St	0.71mi	5/2.0 (-1)	2,000 (+6%)	9mo	$720,000	$360	44
459 Berriman St	0.60mi	6/4.0	1,640 (-13%)	0mo	$875,000	$534	42
361 Chestnut Ct	0.49mi	5/3.0 (-1)	1,680 (-11%)	10mo	$999,990	$595	42
537 Miller Ave	0.65mi	6/5.0	1,620 (-14%)	2mo	$1,100,000	$679	33

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.54×
• Total profit: $-113,445
• Equity at exit: $131,956

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $7,016
• Equity at exit: $76,519

Cash invested: $247,800 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $6,797 high
• Mortgage (P&I): −$4,641
• Tax from tax record: −$164 /mo · $1,966/yr
• Insurance: −$369
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,427
• Net cashflow: $130

Break-even live

Break-even rent $6,633

Max offer price $885,000

Occupancy floor 93%

Sensitivity live

Price	-10% $631	-5% $380	+0% $130	+5% $-121	+10% $-371
Rent	-10% $-407	-5% $-139	+0% $130	+5% $398	+10% $666
Rate	-1.0pp $575	-0.5pp $355	base $130	+0.5pp $-100	+1.0pp $-333

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,798
Total (2 units)			$6,797

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: $221,250
• Closing costs: $26,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-28
   status Pending
2. 2025-09-23
   listed $885,000 Active
3. 2025-09-23
   historical
4. 2025-09-17
   price $885,000
5. 2025-09-12
   price $885,000
6. 2025-09-04
   status Active
7. 2025-03-27
   listed $899,000 Active

ⓘ 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: $1,966 · $164/mo
• Projected year-2 tax: $8,461 · $705/mo
• Expected delta: +$6,495/yr (+$541/mo · 330.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% 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: $81,564
• − Mortgage interest: −$49,574
• − Property taxes: −$1,966
• − Insurance: −$5,222
• − Repairs & maintenance: −$6,525
• − Management: −$6,525
• − Depreciation: −$25,745
• Taxable loss: −$13,994
• Est. tax savings @ 24.0%: +$3,359
• After-tax cash flow: $4,913/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

-1.6% since first listed

7 events — show timeline

• 2026-02-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Listed $885,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $885,000 BNYMLS
• 2025-09-12 Price Changed $885,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-03-27 Listed $899,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+25.4%/yr

Latest (2025): $1,966 · -1.3% YoY. Source: county tax records.