1983 W 7th St · New York, NY 11223

$1,568,000

12 bd · 4.0 ba · 3,600 sqft · MultiFamily public records · 21 Days on market

Built 1931 2,000 sqft lot

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Why this score? — see what drove the C 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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.7/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Attention Investors And End Users! Rare Opportunity In Prime Gravesend. Welcome To West 7th Street. A Huge Semi-Attached Brick Corner 4-Family Sitting On A 20 x 100 Lot With A 20 x 90 Building Size. Each Unit Offers 3 Spacious Bedrooms, 1 Full Bath, Dinette, Large Living Room, And Galley-Style Kitchen. Bright, Airy Rooms Throughout Create A Comfortable Layout With Tremendous Income Potential. Two Units Can Be Delivered Vacant, And Two Units Are Currently Occupied With No Leases. Gas Heat With 4 Separate Heating Units. All Mechanics Are In Working Order. Property Is Being Sold 'As Is'. No Exceptions! Ideally Located Near Abundant Shopping, Restaurants, And Transportation, With Easy Access To

Key facts

• 20 x 100 lot
• Gas heat
• Abundant shopping

Tags

• 20 X 100 LOT
• 20 X 90 BUILDING SIZE
• GAS HEAT
• 4 SEPARATE HEATING UNITS
• ABUNDANT SHOPPING
• RESTAURANTS

Property features AI

Finance

• Other: Zoning: r5b
• Financial info: Financing options: exchange considered, bank mortgage, or cash; Property configured as 4 units

Exterior

• Parking: Street parking
• Utilities: Electric: circuit breakers; Hot water: gas; Heating fuel: gas; Heat delivery: steam/radiator
• Home design: Semi-detached building; Residential property; Building dimensions approximately 90.00 x 20.00
• Construction: Brick exterior; Asphalt/tar roof; Poured concrete foundation; Building footprint approximately 1,800 (building footprint reported)
• Exterior features: Front yard; Fully fenced yard

Interior

• Kitchen: Oven/Range in units; Refrigerator in at least one unit
• Bedrooms: Total of 12 bedrooms across building (6 on first level, 6 on second level); Four 3-bedroom units (two on first floor, two on second floor)
• Flooring: Hardwood floors; Other flooring types (see remarks)
• Bathrooms: Four full bathrooms (2 on first level, 2 on second level); Each unit has 1 full bath
• Heating & cooling: Gas heating with steam/radiator delivery; Electric service with circuit breakers
• Interior features: Stove; Other interior features (see remarks); Basement is semi-finished and unfinished; No central air units reported
• Laundry & utility: Hot water provided by gas

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $1.57M.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $664/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.57M).
• Recommended offer: $1.54M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+13.1%/yr); 216 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $16,792/mo this rent would consume 318% of the median local household income ($63k/yr) (locally 6011% 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 $11k of loan paydown is wiped out by about $47k 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 $439k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.54M) 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.
• Current owner paid $880k; list at $1.57M implies a 78% gain — meaningful room to come down on a strong offer.

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 $1,544,480 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1931 — 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. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $3,953
• Equity at exit: $233,794

10-year hold

• IRR: 14.4%
• Equity multiple: 2.43×
• Total profit: $625,652
• Equity at exit: $135,572

Cash invested: $439,040 (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 11223

• Rents YoY: 13.1%
• Active inventory: 216
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $16,792 high
• Mortgage (P&I): −$8,223
• Tax from tax record: −$1,733 /mo · $20,800/yr
• Insurance: −$653
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,526
• Net cashflow: $2,656

Break-even live

Break-even rent $13,430

Max offer price $1,568,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$16,792
Total (4 units)			$16,792

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: $392,000
• Closing costs: $47,040
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $1,568,000 Active 21 DOM
2. 2026-06-17
   days on market $1,568,000 Active 20 DOM
3. 2026-06-16
   days on market $1,568,000 Active 19 DOM
4. 2026-06-15
   days on market $1,568,000 Active 18 DOM
5. 2026-06-13
   days on market $1,568,000 Active 16 DOM
6. 2026-06-10
   days on market $1,568,000 Active 12 DOM
7. 2026-06-08
   days on market $1,568,000 Active 11 DOM
8. 2026-06-08
   days on market $1,568,000 Active 10 DOM
9. 2026-06-04
   days on market $1,568,000 Active 7 DOM
10. 2026-06-03
    days on market $1,568,000 Active 6 DOM
11. 2026-06-02
    days on market $1,568,000 Active 5 DOM
12. 2026-06-01
    days on market $1,568,000 Active 4 DOM
13. 2026-05-31
    days on market $1,568,000 Active 3 DOM

ⓘ 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: $20,800 · $1,733/mo
• Projected year-2 tax: $23,649 · $1,971/mo
• Expected delta: +$2,850/yr (+$237/mo · 13.7%)

ⓘ 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 ≥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: $201,504
• − Mortgage interest: −$87,832
• − Property taxes: −$20,800
• − Insurance: −$7,840
• − Repairs & maintenance: −$16,120
• − Management: −$16,120
• − Depreciation: −$45,615
• Taxable income: $7,177
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $30,153/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+1468.0% since first listed

9 events — show timeline

• 2026-05-28 Listed $1,568,000 BNYMLS
• 2024-10-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-12 Listed $1,788,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-09 Price Changed $1,788,000 BNYMLS
• 2021-08-02 Price Changed $1,860,000 BNYMLS
• 2021-07-21 Price Changed $1,899,000 BNYMLS
• 2015-04-27 Sold (Public Records) $880,000 Public Records
• 2001-02-26 Sold (Public Records) $430,000 Public Records
• 1982-11-01 Sold (Public Records) $100,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $20,800 · +2.3% YoY. Source: county tax records.