1687 83rd St · New York, NY 11214

$1,999,999

8 bd · 4.8 ba · 3,198 sqft · MultiFamily public records · 38 Days on market

Built 1931 3,360 sqft lot Est $1743k · 15% over

---

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 +15.0/30.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• ARV discount +0.9/15.0
• 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

Welcome to this well-maintained 4-family home ideally located in the heart of Bensonhurst. This solid brick property features three spacious 2-bedroom apartments and one large 3-bedroom unit, providing excellent flexibility for both investors and end users. The fully finished basement offers additional storage space and endless possibilities for customization. The building measures 21x78 and sits on an oversized 28x120 lot, providing ample living space along with outdoor potential. Enjoy the convenience of being close to local transportation, schools, parks, and a variety of shopping and dining options. Whether you’re looking to generate strong rental income or create a comfortable ho

Key facts

• Solid brick
• Close to parks
• Close to schools

Tags

• SOLID BRICK
• FULLY FINISHED BASEMENT
• OVERSIZED LOT
• CLOSE TO LOCAL TRANSPORTATION
• CLOSE TO SCHOOLS
• CLOSE TO PARKS

What this means for you Summary

Snapshot

• This is a 3×2bd/1.2ba + 1×3bd/1.2ba units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive. Per door: $154/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 $1.68M (15.9% below list).
• Recommended offer: $1.68M (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Ps 204 Vince Lombardi (math 69% / reading 72%, grade A-, #442 of 2,108 statewide, top 21%, 1,005 students, 75% FRL); Madeleine Brennan School (The) (math 71% / reading 79%, grade A, #54 of 729 statewide, top 8%, 1,554 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 (+5.9%/yr); 334 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $16,823/mo this rent would consume 306% of the median local household income ($66k/yr) (locally 6028% 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 $14k of loan paydown is wiped out by about $60k 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 38 days — a 3% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,682,300 (15.9% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 16% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.84% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $1,742,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1651 79th St	0.20mi	8/4.0	3,280 (+3%)	5mo	$1,940,000	$591	79
1464 86th St	0.38mi	8/4.0	3,040 (-5%)	5mo	$3,450,000	$1,135	67
8309 20th Ave	0.48mi	8/4.0	3,276 (+2%)	4mo	$1,540,000	$470	67
2041 85th St	0.55mi	7/4.0 (-1)	3,280 (+3%)	1mo	$1,580,000	$482	61
1519 71 St	0.65mi	7/5.0 (-1)	3,200 (+0%)	6mo	$1,650,000	$516	59
7005 19th Ave	0.71mi	7/4.0 (-1)	3,120 (-2%)	2mo	$2,060,000	$660	53
1702 74th St	0.43mi	7/3.0 (-1)	3,432 (+7%)	5mo	$1,430,000	$417	52
2144 82nd St	0.69mi	7/6.0 (-1)	3,395 (+6%)	1mo	$1,850,000	$545	47
125 Bay 26th St	0.70mi	7/2.5 (-1)	3,288 (+3%)	3mo	$1,790,000	$544	46
1516 70th St	0.67mi	8/4.0	2,800 (-12%)	5mo	$1,882,000	$672	40
62 Bay 26th St	0.61mi	7/3.0 (-1)	2,880 (-10%)	5mo	$1,370,000	$476	39
8743 Bay 16th St	0.43mi	7/9.0 (-1)	2,800 (-12%)	3mo	$1,999,999	$714	37

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 · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-235,376
• Equity at exit: $298,206

10-year hold

• IRR: 1.4%
• Equity multiple: 1.11×
• Total profit: $61,180
• Equity at exit: $172,923

Cash invested: $560,000 (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 11214

• Rents YoY: 5.9%
• Active inventory: 334
• Price-to-rent: 40.7×

Monthly cashflow live

• Estimated rent: $16,823 high
• Mortgage (P&I): −$10,488
• Tax from tax record: −$1,353 /mo · $16,240/yr
• Insurance: −$833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,533
• Net cashflow: $615

Break-even live

Break-even rent $16,044

Max offer price $1,999,999

Occupancy floor 91%

Sensitivity live

Price	-10% $1,747	-5% $1,181	+0% $615	+5% $49	+10% $-517
Rent	-10% $-714	-5% $-49	+0% $615	+5% $1,280	+10% $1,944
Rate	-1.0pp $1,622	-0.5pp $1,124	base $615	+0.5pp $97	+1.0pp $-430

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.2	$12,279
1× unit	3	1.2	$4,543
Total (4 units)			$16,823

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: $500,000
• Closing costs: $60,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-07-25
   status Pending
2. 2025-06-17
   listed $1,999,999 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: $16,240 · $1,353/mo
• Projected year-2 tax: $25,020 · $2,085/mo
• Expected delta: +$8,780/yr (+$732/mo · 54.1%)

ⓘ 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 ≥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: $201,876
• − Mortgage interest: −$112,031
• − Property taxes: −$16,240
• − Insurance: −$10,000
• − Repairs & maintenance: −$16,150
• − Management: −$16,150
• − Depreciation: −$58,182
• Taxable loss: −$26,877
• Est. tax savings @ 24.0%: +$6,450
• After-tax cash flow: $13,834/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

2 events — show timeline

• 2025-07-25 Pending — BNYMLS
• 2025-06-17 Listed $1,999,999 BNYMLS

Property tax history

+5.5%/yr

Latest (2025): $16,240 · +6.9% YoY. Source: county tax records.