980 Sutter Ave · New York, NY 11208

$1,299,999

6 bd · 2.0 ba · 2,640 sqft · MultiFamily · 15 Days on market

Built 1925 Good condition 1,500 sqft lot Est $1043k · 25% over

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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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

This meticulously maintained mixed-use building offers the perfect blend of stable rental income and business potential. Featuring a vacant ground-floor retail storefront and two well maintained apartments above, this property is ideal for investors and owner-users alike. Both residential units have been tastefully updated, showcasing white shaker cabinetry, hardwood flooring, and modern tile bathrooms. Each unit is separately metered for gas and electric, giving tenants full control over their utilities and simplifying management. Situated in a highly accessible location, this property offers excellent exposure for retail and easy commuting for residents. Just minutes from major public tra

Key facts

• Hardwood flooring
• Mixed-use building
• 1,500 sq ft lot

Tags

• MIXED-USE BUILDING
• TWO WELL MAINTAINED APARTMENTS
• WHITE SHAKER CABINETRY
• HARDWOOD FLOORING
• MODERN TILE BATHROOMS
• HIGHLY ACCESSIBLE LOCATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Duplex; Total building area approximately 2,640 sq ft (per public records)
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Heating: See remarks / Other; Cooling varies by unit
• Interior features: Other interior features; Basement present (see remarks)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $1.30M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.29M (0.5% below list).
• Recommended offer: $1.28M (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+6.1%/yr); 192 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $12,941/mo this rent would consume 250% 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 $9k of loan paydown is wiped out by about $39k 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 15 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,280,499 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $1,042,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
762 Belmont Ave	0.11mi	7/3.0 (+1)	2,520 (-4%)	7mo	$1,140,000	$452	72
852 Glenmore Ave	0.37mi	6/3.0	2,484 (-6%)	1mo	$995,000	$401	68
982 Dumont Ave	0.22mi	6/3.0	2,452 (-7%)	9mo	$847,390	$346	67
346 Van Siclen Ave	0.40mi	5/3.0 (-1)	2,700 (+2%)	6mo	$1,090,740	$404	63
471 Shepherd Ave	0.18mi	5/3.5 (-1)	2,800 (+6%)	20mo	$989,000	$353	54
700 Bradford St	0.73mi	6/4.0	2,646 (+0%)	7mo	$850,000	$321	51
807 Barbey	0.58mi	6/3.0	2,400 (-9%)	3mo	$1,100,000	$458	51
95 Wyona St	0.74mi	5/3.0 (-1)	2,712 (+3%)	8mo	$1,070,000	$395	46
919 Dumont Ave	0.25mi	7/4.0 (+1)	2,320 (-12%)	18mo	$1,050,000	$453	41
504 Vermont St	0.62mi	5/3.0 (-1)	3,000 (+14%)	3mo	$810,000	$270	37
637 Blake Ave	0.71mi	5/3.0 (-1)	2,922 (+11%)	4mo	$935,000	$320	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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.75×
• Total profit: $-89,353
• Equity at exit: $193,834

10-year hold

• IRR: 6.7%
• Equity multiple: 1.57×
• Total profit: $209,213
• Equity at exit: $112,400

Cash invested: $364,000 (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 11208

• Rents YoY: 6.1%
• Active inventory: 192
• Price-to-rent: 41.9×

Monthly cashflow live

• Estimated rent: $12,941 medium
• Mortgage (P&I): −$6,817
• Tax est. 1.5%: −$1,625 /mo · $19,500/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,718
• Net cashflow: $1,239

Break-even live

Break-even rent $11,372

Max offer price $1,299,999

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$12,940
Total (5 units)			$12,941

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: $325,000
• Closing costs: $39,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $1,299,999 Active 15 DOM
2. 2026-06-17
   days on market $1,299,999 Active 14 DOM
3. 2026-06-16
   days on market $1,299,999 Active 13 DOM
4. 2026-06-15
   days on market $1,299,999 Active 12 DOM
5. 2026-06-13
   days on market $1,299,999 Active 10 DOM
6. 2026-06-09
   days on market $1,299,999 Active 6 DOM
7. 2026-06-08
   days on market $1,299,999 Active 5 DOM
8. 2026-06-08
   days on market $1,299,999 Active 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $1,299,999 Active 1 DOM

ⓘ 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: $155,292
• − Mortgage interest: −$72,820
• − Property taxes: −$19,500
• − Insurance: −$6,500
• − Repairs & maintenance: −$12,423
• − Management: −$12,423
• − Depreciation: −$37,818
• Taxable loss: −$6,193
• Est. tax savings @ 24.0%: +$1,486
• After-tax cash flow: $16,359/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained mixed-use building offers a balance of stable rental income and business potential. The two apartments are tastefully updated with modern finishes and separate utility meters, making it ideal for investors and owner-users.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Replace awnings — Improves aesthetics and functionality
• Both Upgrade lighting — Enhances safety and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Replace awnings — Improves aesthetics and functionality ↑
• Both Upgrade lighting — Enhances safety and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-06-03 Listed $1,299,999 OneKey® MLS as Distributed by MLS Grid
• 2022-11-23 Rental Removed — RENT.