170 26th St · New York, NY 11232

$1,350,000

2 bd · 2.0 ba · 1,260 sqft · MultiFamily public records · 39 Days on market

Built 1910 1,818 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 +9.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Cash flow +4.4/30.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Cottage in the City! Come to Greenwood Heights, and enjoy this charming c. 1910 two-story house with a surprisingly deep and verdant rear garden. Set up as a one-family, this house offers lots of possibilities. The main level is an open plan with hand-burnished wood floors and a wood-burning fireplace. The kitchen is outfitted with white custom cabinetry with glass uppers, white quartz countertops, a five-burner vented stove, an exposed brick chimney and glass sliding doors that lead onto a south-facing deck. There's a sleek full bath with step-in shower on this level. Upstairs are two bedrooms -- one front and one back -- a study/nursery and an oversized walk-in closet. A second full bat

Key facts

• Custom cabinetry
• Open plan
• Deep rear garden

Tags

• DEEP REAR GARDEN
• OPEN PLAN
• HAND-BURNISHED WOOD FLOORS
• WOOD-BURNING FIREPLACE
• CUSTOM CABINETRY
• WHITE QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Multi-unit property with 2 total units
• Financial info: Annual taxes listed (amount withheld from output per instructions)

Exterior

• Home design: 2-story building; Entry level: 1
• Construction: Green building
• Exterior features: Property has a view; Lot dimensions approximately 101 x 18

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Interior features: Smoke-free; Has basement (other type)
• Laundry & utility: Washer hookup; In-unit laundry possible; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $-4k ($-42k/yr) — negative.
• To cash-flow at today's rent, offer at most $730k (45.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $555k (58.9% below list).
• Recommended offer: $555k (58.9% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Ms 51 William Alexander (math 67% / reading 92%, grade A+, #32 of 729 statewide, top 5%, 1,026 students, 61% 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 (+6.3%/yr); 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,550/mo this rent would consume 73% of the median local household income ($91k/yr) (locally 1713% 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 $122k of equity ($9k loan paydown + $113k appreciation (8.3% 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 ~$195k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($1.31M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.12M; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $555,000 (58.9% 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 39 days. Have you received any prior offers? Is the seller open to a 59% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.41% ✗
• Cap rate: 3.17%
• Cash-on-cash: -11.14%
• DSCR: 0.50
• GRM: 20.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.35% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 2.01×
• Total profit: $380,651
• Equity at exit: $1,057,654

10-year hold

• IRR: 13.8%
• Equity multiple: 4.48×
• Total profit: $1,315,028
• Equity at exit: $2,130,731

Cash invested: $378,000 (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 11232

• Home prices YoY: 2.0%
• Rents YoY: 6.3%
• Active inventory: 87
• Price-to-rent: 40.5×

Monthly cashflow live

• Estimated rent: $5,550 medium
• Mortgage (P&I): −$7,080
• Tax from tax record: −$253 /mo · $3,033/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,166
• Net cashflow: $-3,510

Break-even live

Break-even rent $9,993

Max offer price $729,887

Occupancy floor —

Sensitivity live

Price	-10% $-2,746	-5% $-3,128	+0% $-3,510	+5% $-3,892	+10% $-4,275
Rent	-10% $-3,949	-5% $-3,730	+0% $-3,510	+5% $-3,291	+10% $-3,072
Rate	-1.0pp $-2,830	-0.5pp $-3,167	base $-3,510	+0.5pp $-3,860	+1.0pp $-4,216

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,550
Total (2 units)			$5,550

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1656 8th Ave Unit 2nd floor Brooklyn, NY	1.0	1.0	1200	$3,900	$3.25	26d	1	0.84mi

Listing history 25 events

1. 2026-06-21
   days on market $1,350,000 Active 39 DOM
2. 2026-06-18
   days on market $1,350,000 Active 36 DOM
3. 2026-06-17
   days on market $1,350,000 Active 35 DOM
4. 2026-06-16
   days on market $1,350,000 Active 34 DOM
5. 2026-06-15
   days on market $1,350,000 Active 33 DOM
6. 2026-06-13
   days on market $1,350,000 Active 31 DOM
7. 2026-06-10
   days on market $1,350,000 Active 27 DOM
8. 2026-06-08
   days on market $1,350,000 Active 26 DOM
9. 2026-06-08
   days on market $1,350,000 Active 25 DOM
10. 2026-06-04
    days on market $1,350,000 Active 22 DOM
11. 2026-06-03
    days on market $1,350,000 Active 21 DOM
12. 2026-06-02
    days on market $1,350,000 Active 20 DOM
13. 2026-06-01
    days on market $1,350,000 Active 19 DOM
14. 2026-05-31
    days on market $1,350,000 Active 18 DOM
15. 2026-05-13
    listed $1,350,000 Active
16. 2021-08-02
    soldstatus $1,120,000
17. 2012-08-16
    soldstatus $450,000
18. 1996-10-11
    soldstatus $110,000
19. 1993-09-10
    soldstatus $105,000
20. 1993-09-10
    soldstatus $105,000
21. 1992-05-08
    soldstatus $147,000
22. 1992-05-08
    soldstatus $70,000
23. 1987-05-13
    soldstatus $140,000
24. 1986-07-16
    soldstatus $57,500
25. 1984-06-01
    soldstatus $20,000

ⓘ 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: $3,033 · $253/mo
• Projected year-2 tax: $12,924 · $1,077/mo
• Expected delta: +$9,891/yr (+$824/mo · 326.1%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $66,600
• − Mortgage interest: −$75,621
• − Property taxes: −$3,033
• − Insurance: −$6,750
• − Repairs & maintenance: −$5,328
• − Management: −$5,328
• − Depreciation: −$39,273
• Taxable loss: −$68,733
• Est. tax savings @ 24.0%: +$16,496
• After-tax cash flow: $-25,628/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): 27,816
• Household income: $90,891
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 1713.0

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: Hispanic / Latino 52% White 23% Asian 15% Two or more races 12% Black 6% Native American 4%
• Hispanic origin (detail): Mexican 20% Puerto Rican 9% Dominican 7%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 38% · Canada, China, Jamaica
• Languages at home: 40% English-only · Spanish 44% Chinese 9% Other Asian/Pacific 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: ▲ 8.35%
• Current HPI: 422.0849
• Rent YoY: ▲ 6.26%
• 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

+6650.0% since first listed

11 events — show timeline

• 2026-05-13 Listed $1,350,000 RLS at REBNY
• 2021-08-02 Sold (Public Records) $1,120,000 Public Records
• 2012-08-16 Sold (Public Records) $450,000 Public Records
• 1996-10-11 Sold (Public Records) $110,000 Public Records
• 1993-09-10 Sold (Public Records) $105,000 Public Records
• 1993-09-10 Sold (Public Records) $105,000 Public Records
• 1992-05-08 Sold (Public Records) $70,000 Public Records
• 1992-05-08 Sold (Public Records) $147,000 Public Records
• 1987-05-13 Sold (Public Records) $140,000 Public Records
• 1986-07-16 Sold (Public Records) $57,500 Public Records
• 1984-06-01 Sold (Public Records) $20,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,033 · +3.3% YoY. Source: county tax records.