8794 15th Ave · New York, NY 11228

$3,158,000

36 bd · 20.4 ba · 18,720 sqft · MultiFamily public records · 193 Days on market

Built 1916 5,808 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• 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 (5+ Unit). Listing-text estimate: 12 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

Introducing one-of-a-kind Brick 20-Family in the most desired neighborhood, Bath Beach of Brooklyn, NY. This gem has a building size of 60 x 78 sitting on a 60 x 97 lot. Total 18,720 living SF. This property features 20 apartments. Most of the units have been updated. 3 units with 3 bedrooms with a Kitchen and living room and Dining room (6 rooms); 9 units with 2 bedrooms and a Kitchen and living room and Dining room (5 rooms); 8 units with 1 bedroom and a Kitchen and living room and Dining room (4 rooms). This investment generates a gross income of $297,840/yr, with 10 leases for renewal ready with a boost of rent increase. The building offers a Cap Rate that is about 6.25%. This high-inco

Key facts

• Updated units
• Close to restaurants
• Tree-lined street

Tags

• UPDATED UNITS
• CLEAN BASEMENT
• NEW ROOF
• MECHANICAL EQUIPMENT UPDATED
• TREE-LINED STREET
• CLOSE TO RESTAURANTS

Property features AI

Finance

• Other: Property is in Brooklyn (cross streets: Bath Ave and Cropsey Ave)
• Financial info: Financing options may include cash, bank mortgage, or exchange considered; This is a 20-unit multifamily property (unit mix includes 1–3 bedroom apartments; many units are leased with current rents shown in unit details); Reported monthly utility expense (operating figure) included in utilities
• HOA & community: Resident superintendent (building amenity)

Exterior

• Parking: No designated parking
• Security: Resident superintendent
• Utilities: Electric supply includes 110V and 220V with circuit breakers; Gas hot water and heating; Utility expense listed (operating figure)
• Home design: Detached residential building; Flat / rubber roof; Poured concrete foundation; Zoned R4
• Construction: Brick construction; Building footprint approximately 4,680 sq ft; Building dimensions roughly 78 x 60
• Exterior features: Front, side and back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Building total includes multiple bedrooms across units: Level 1 has 8 bedrooms, Level 2 has 9 bedrooms, Level 3 has 9 bedrooms, Level 4 has 9 bedrooms
• Flooring: Tile floors; Other flooring (see remarks)
• Bathrooms: 20 full bathrooms total (distributed as 5 on each level 1–4)
• Heating & cooling: Steam/radiator heat; Gas-fired hot water; Wall and window A/C units
• Interior features: Wall and window air conditioning units (5+ units); Refrigerator; Stove
• Laundry & utility: No specific in-unit laundry details provided

What this means for you Summary

Snapshot

• This is a 12 × 3-bed/?-bath units multifamily listed at $3.16M.

Deal economics

• At list price, monthly cash flow is $13k ($156k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($44k rent vs $3.16M).
• Recommended offer: $2.78M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+8.0%/yr); 192 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $44,044/mo this rent would consume 632% of the median local household income ($84k/yr) (locally 2061% 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 $22k of loan paydown is wiped out by about $95k 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 $884k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($2.78M) 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 $150k; list at $3.16M implies a 2005% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $2,779,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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 1916 — 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: 1.39% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.63%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.96% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.62×
• Total profit: $547,238
• Equity at exit: $470,868

10-year hold

• IRR: 26.8%
• Equity multiple: 3.93×
• Total profit: $2,594,341
• Equity at exit: $273,046

Cash invested: $884,240 (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 11228

• Rents YoY: 8.0%
• Active inventory: 192
• Price-to-rent: 71.7×

Monthly cashflow live

• Estimated rent: $44,044 medium
• Mortgage (P&I): −$16,561
• Tax from tax record: −$3,925 /mo · $47,104/yr
• Insurance: −$1,316
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,249
• Net cashflow: $12,993

Break-even live

Break-even rent $27,598

Max offer price $3,158,000

Occupancy floor 66%

Sensitivity live

Price	-10% $14,780	-5% $13,886	+0% $12,993	+5% $12,099	+10% $11,205
Rent	-10% $9,513	-5% $11,253	+0% $12,993	+5% $14,732	+10% $16,472
Rate	-1.0pp $14,583	-0.5pp $13,796	base $12,993	+0.5pp $12,174	+1.0pp $11,342

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

Units	Beds	Baths	Est. rent
▸ 12× units	3	—	$44,040
Total (12 units)			$44,044

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: $789,500
• Closing costs: $94,740
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $3,158,000 Active 193 DOM
2. 2026-06-17
   days on market $3,158,000 Active 192 DOM
3. 2026-06-15
   days on market $3,158,000 Active 190 DOM
4. 2026-06-13
   days on market $3,158,000 Active 188 DOM
5. 2026-06-10
   days on market $3,158,000 Active 184 DOM
6. 2026-06-08
   days on market $3,158,000 Active 183 DOM
7. 2026-06-04
   days on market $3,158,000 Active 179 DOM
8. 2026-06-03
   pricedays on market $3,158,000 Active 178 DOM
9. 2026-06-01
   days on market $3,198,000 Active 176 DOM
10. 2026-05-31
    days on market $3,198,000 Active 175 DOM
11. 2026-04-07
    status Active
12. 2026-04-07
    historical
13. 2025-12-06
    listed $3,198,000 Active
14. 2025-03-27
    price $3,580,000
15. 2024-11-20
    price $3,780,000
16. 1982-06-01
    soldstatus $150,000

ⓘ 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: $47,104 · $3,925/mo
• Projected year-2 tax: $50,237 · $4,186/mo
• Expected delta: +$3,133/yr (+$261/mo · 6.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $528,528
• − Mortgage interest: −$176,897
• − Property taxes: −$47,104
• − Insurance: −$15,790
• − Repairs & maintenance: −$42,282
• − Management: −$42,282
• − Depreciation: −$91,869
• Taxable income: $112,303
• Est. tax owed @ 24.0%: −$26,953
• After-tax cash flow: $128,959/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): 42,241
• Household income: $83,665
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2061.0

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 0.62)
• Race & ethnicity: White 48% Asian 36% Hispanic / Latino 13% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 42% English-only · Chinese 28% Other Indo-European 12% Spanish 8%

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: ▼ -226.00%
• Current HPI: 381.4834
• Rent YoY: ▲ 7.96%
• 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

+2032.0% since first listed

6 events — show timeline

• 2026-04-07 Relisted — BNYMLS
• 2026-04-07 Delisted — BNYMLS
• 2025-12-06 Listed $3,198,000 BNYMLS
• 2025-03-27 Price Changed $3,580,000 BNYMLS
• 2024-11-20 Price Changed $3,780,000 RLS at REBNY
• 1982-06-01 Sold (Public Records) $150,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $47,104 · -6.9% YoY. Source: county tax records.