1888 W 6th St · New York, NY 11223

$1,690,000

8 bd · 4.0 ba · 3,485 sqft · MultiFamily public records · 205 Days on market

Built 1931 2,500 sqft lot Est $1847k · 9% under

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Why this score? — see what drove the C 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 +20.5/30.0
• ARV discount +11.3/15.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• 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: 4 units. confirmed

Listing remarks

Discover an incredible investment opportunity with this solid brick 4-family home perfectly situated in the heart of Brooklyn! Located just moments from Kings Highway and Avenue U, you’ll enjoy unmatched convenience to transportation, shops, restaurants, and all neighborhood essentials. The first floor offers two units, each featuring 2 bedrooms and 1 full bathroom, while the second floor provides two spacious units with 3 bedrooms and 1 full bathroom—ideal for strong rental income. A finished basement adds valuable bonus space, and a shared driveway offers added convenience. A rare find in an unbeatable location—this property will not last!

Key facts

• Solid brick
• Finished basement
• Shared driveway

Tags

• SOLID BRICK
• FINISHED BASEMENT
• SHARED DRIVEWAY
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Zoning: R5B
• Financial info: Property has 4 units; Reported gross rent income: $5,200 per 12-month period; Unit 1 status: owner occupied; Unit 2 status: month-to-month, current rent $1,050; Unit 3 status: month-to-month, current rent $1,350; Unit 4 status: month-to-month, current rent $1,400; Financing options: cash, bank mortgage, exchange considered
• HOA & community: No building amenities

Exterior

• Parking: Shared drive
• Security: No security features listed
• Utilities: Electric: 220V, circuit breakers; Hot water: gas; Heating fuel: gas; Sewer/water/power specifics not listed
• Home design: Semi-detached building; Residential property; Facing/entry details not provided
• Construction: Brick construction; Flat roof; Poured concrete foundation; Building footprint approximately 1,785 sq ft; Building dimensions approximately 85.00 x 21.00
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Unit 1 (floor 1): 2 bedrooms; Unit 2 (floor 1): 2 bedrooms; Unit 3 (floor 2): 3 bedrooms; Unit 4 (floor 2): 3 bedrooms
• Flooring: Hardwood floors
• Bathrooms: Total full bathrooms: 4; Each unit has 1 full bathroom
• Heating & cooling: Gas hot water; Gas heating fuel; Heat delivered by baseboard and steam/radiator; 220V electric with circuit breakers
• Interior features: Finished basement; Refrigerator; Stove; Other interior features; Hardwood floors; No central AC units reported
• Laundry & utility: No washer/dryer or laundry appliances listed

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.69M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $553/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 $1.57M (7.2% below list).
• Recommended offer: $1.49M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+13.1%/yr); 216 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $15,677/mo this rent would consume 297% 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 $12k of loan paydown is wiped out by about $51k 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 + 8.0% rent growth), your $473k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($1.49M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $276k; list at $1.69M implies a 512% 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, 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 $1,487,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 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: 0.93% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $1,847,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2280 85th St	0.66mi	9/4.0 (+1)	3,520 (+1%)	7mo	$1,700,000	$483	56
1537 W 11th St	0.62mi	9/6.0 (+1)	3,600 (+3%)	1mo	$1,850,000	$514	52
1548 W 8th St	0.57mi	7/5.0 (-1)	3,600 (+3%)	8mo	$1,730,000	$481	52
1684 W 9th St	0.36mi	8/4.5	3,135 (-10%)	16mo	$1,925,000	$614	51
2315 82nd St	0.52mi	9/6.5 (+1)	3,780 (+8%)	1mo	$2,280,000	$603	46
125 Bay 40th St	0.70mi	7/3.0 (-1)	3,245 (-7%)	2mo	$1,250,000	$385	45
2317 82nd St	0.52mi	9/6.0 (+1)	3,780 (+8%)	9mo	$2,300,000	$608	41
2454 85th St #4	0.50mi	7/5.0 (-1)	3,034 (-13%)	9mo	$1,820,000	$600	39
1533 W 6th St	0.59mi	7/3.0 (-1)	3,808 (+9%)	12mo	$1,300,000	$341	38
1633 W 13th St	0.51mi	7/5.0 (-1)	2,992 (-14%)	9mo	$1,690,000	$565	36
1541 W 12th St	0.61mi	7/4.0 (-1)	3,052 (-12%)	13mo	$1,618,000	$530	35
73 27th Ave	0.74mi	7/5.0 (-1)	3,180 (-9%)	14mo	$1,450,000	$456	30

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: -2.7%
• Equity multiple: 0.89×
• Total profit: $-50,695
• Equity at exit: $251,984

10-year hold

• IRR: 11.4%
• Equity multiple: 2.08×
• Total profit: $511,692
• Equity at exit: $146,120

Cash invested: $473,200 (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: 216
• Price-to-rent: 35.9×

Monthly cashflow live

• Estimated rent: $15,677 high
• Mortgage (P&I): −$8,863
• Tax from tax record: −$604 /mo · $7,252/yr
• Insurance: −$704
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,292
• Net cashflow: $2,214

Break-even live

Break-even rent $12,875

Max offer price $1,690,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$15,676
Total (4 units)			$15,677

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: $422,500
• Closing costs: $50,700
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,690,000 Active 205 DOM
2. 2026-06-17
   days on market $1,690,000 Active 204 DOM
3. 2026-06-15
   days on market $1,690,000 Active 202 DOM
4. 2026-06-13
   days on market $1,690,000 Active 200 DOM
5. 2026-06-10
   days on market $1,690,000 Active 196 DOM
6. 2026-06-08
   days on market $1,690,000 Active 195 DOM
7. 2026-06-04
   days on market $1,690,000 Active 191 DOM
8. 2026-06-03
   days on market $1,690,000 Active 190 DOM
9. 2026-06-01
   days on market $1,690,000 Active 188 DOM
10. 2026-05-31
    days on market $1,690,000 Active 187 DOM
11. 2025-11-25
    listed $1,690,000 Active
12. 1998-05-11
    soldstatus $276,000
13. 1989-01-10
    soldstatus $296,000
14. 1987-03-17
    soldstatus $280,000

ⓘ 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: $7,252 · $604/mo
• Projected year-2 tax: $17,906 · $1,492/mo
• Expected delta: +$10,655/yr (+$888/mo · 146.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $188,124
• − Mortgage interest: −$94,666
• − Property taxes: −$7,252
• − Insurance: −$8,450
• − Repairs & maintenance: −$15,050
• − Management: −$15,050
• − Depreciation: −$49,164
• Taxable loss: −$1,507
• Est. tax savings @ 24.0%: +$362
• After-tax cash flow: $26,928/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

+503.6% since first listed

4 events — show timeline

• 2025-11-25 Listed $1,690,000 BNYMLS
• 1998-05-11 Sold (Public Records) $276,000 Public Records
• 1989-01-10 Sold (Public Records) $296,000 Public Records
• 1987-03-17 Sold (Public Records) $280,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $7,252 · -41.0% YoY. Source: county tax records.