213 Johnson Ave · New York, NY 11206

$2,799,000

4 bd · 4.0 ba · 4,500 sqft · MultiFamily · 40 Days on market

Built 2001 2,383 sqft lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.7/30.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Prime Mixed-Use 4 Family + Store in Williamsburg! 213 Johnson Ave represents a rare investment opportunity with solid mechanical systems, a versatile layout, and an unbeatable location. The property is located within walking distance to the L, J, M, G subway lines. It is in close proximity to an array of retail and all the amenities of restaurants, bars, cafes, and artisan shops in a desirable neighborhood of Williamsburg. Whether you’re looking to capitalize on the residential rental market, expand your commercial ventures, or both, this property is poised for success. Building is in a very good condition and features (3 Floors): – 4 Residential Units configured as 1BR/1BA e

Key facts

• Proximity to retail
• Versatile layout
• 2,383 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• SOLID MECHANICAL SYSTEMS
• VERSATILE LAYOUT
• WALKING DISTANCE TO SUBWAY
• PROXIMITY TO RETAIL
• PROXIMITY TO RESTAURANTS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity available; Natural gas available; Sewer available; Water available
• Home design: Quadruplex; Updated/remodeled condition; Total building area approximately 4,500
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront; No additional parcels

Interior

• Kitchen: Galley-style kitchen layout
• Bedrooms: Four 1-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Galley-type kitchen; High ceilings; Storage space; Full basement
• Laundry & utility: Basement utility/storage space

What this means for you Summary

Snapshot

• This is a 4 × 1.0-bed/1.0-bath units multifamily listed at $2.80M.

Deal economics

• At list price, monthly cash flow is $-6k ($-68k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $1.98M (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.73M (38.2% below list).
• Recommended offer: $1.73M (38.2% below list) — sets the bar for 1% rule.
• Cap rate 3.9% 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 (+5.0%/yr); 59 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $17,297/mo this rent would consume 338% of the median local household income ($61k/yr) (locally 7470% 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 $299k of equity ($19k loan paydown + $280k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$481k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($2.72M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.

Recommended offer $1,729,700 (38.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.62% ✗
• Cap rate: 3.86%
• Cash-on-cash: -8.69%
• DSCR: 0.61
• GRM: 13.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.53×
• Total profit: $1,199,401
• Equity at exit: $2,521,561

10-year hold

• IRR: 17.7%
• Equity multiple: 5.97×
• Total profit: $3,897,258
• Equity at exit: $5,437,841

Cash invested: $783,720 (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 11206

• Home prices YoY: 4.2%
• Rents YoY: 5.0%
• Active inventory: 59
• Price-to-rent: 53.9×

Monthly cashflow live

• Estimated rent: $17,297 high
• Mortgage (P&I): −$14,678
• Tax est. 1.5%: −$3,499 /mo · $41,985/yr
• Insurance: −$1,166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,632
• Net cashflow: $-5,679

Break-even live

Break-even rent $24,485

Max offer price $1,977,293

Occupancy floor —

Sensitivity live

Price	-10% $-3,744	-5% $-4,711	+0% $-5,679	+5% $-6,646	+10% $-7,613
Rent	-10% $-7,045	-5% $-6,362	+0% $-5,679	+5% $-4,995	+10% $-4,312
Rate	-1.0pp $-4,269	-0.5pp $-4,967	base $-5,679	+0.5pp $-6,404	+1.0pp $-7,142

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

Units	Beds	Baths	Est. rent
▸ 4× units	1.0	1	$17,296
Total (4 units)			$17,297

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: $699,750
• Closing costs: $83,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $2,799,000 Active 40 DOM
2. 2026-06-18
   days on market $2,799,000 Active 37 DOM
3. 2026-06-17
   days on market $2,799,000 Active 36 DOM
4. 2026-06-16
   days on market $2,799,000 Active 35 DOM
5. 2026-06-15
   days on market $2,799,000 Active 34 DOM
6. 2026-06-13
   days on market $2,799,000 Active 32 DOM
7. 2026-06-10
   days on market $2,799,000 Active 28 DOM
8. 2026-06-08
   days on market $2,799,000 Active 27 DOM
9. 2026-06-08
   days on market $2,799,000 Active 26 DOM
10. 2026-06-04
    days on market $2,799,000 Active 23 DOM
11. 2026-06-03
    days on market $2,799,000 Active 22 DOM
12. 2026-06-02
    days on market $2,799,000 Active 21 DOM
13. 2026-06-01
    days on market $2,799,000 Active 20 DOM
14. 2026-05-31
    days on market $2,799,000 Active 19 DOM
15. 2026-05-12
    listed $2,799,000 Active
16. 2025-03-14
    historical
17. 2025-01-10
    price $2,899,999
18. 2025-01-10
    price $2,899,000
19. 2024-10-23
    price $2,999,000
20. 2024-09-13
    listed $3,100,000 Active
21. 2022-07-05
    price $2,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $207,564
• − Mortgage interest: −$156,788
• − Property taxes: −$41,985
• − Insurance: −$13,995
• − Repairs & maintenance: −$16,605
• − Management: −$16,605
• − Depreciation: −$81,425
• Taxable loss: −$119,839
• Est. tax savings @ 24.0%: +$28,761
• After-tax cash flow: $-39,382/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): 93,020
• Household income: $61,430
• Rent vs Own: 88.9% rent · 11.1% own
• Severe rent burden: 7470.0

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 0.70)
• Race & ethnicity: White 37% Hispanic / Latino 36% Black 18% Two or more races 11% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 14% Dominican 9%
• Common ancestry: Romanian 2% Italian 2% Lithuanian 1%
• Foreign-born: 20% · Canada, China, Jamaica
• Languages at home: 44% English-only · Spanish 30% German/W. Germanic 16% Chinese 4%

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: ▲ 17.52%
• Current HPI: 438.9997
• Rent YoY: ▲ 5.05%
• 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

+139850.0% since first listed

7 events — show timeline

• 2026-05-12 Listed $2,799,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Price Changed $2,899,999 OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Price Changed $2,899,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-23 Price Changed $2,999,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-13 Listed $3,100,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-05 Price Changed $2,000 RENT.