1512 E 22nd St · New York, NY 11210

$999,000

4 bd · 3.0 ba · 1,280 sqft · MultiFamily public records · 27 Days on market

Built 1930 2,000 sqft lot Est $874k · 14% over

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Why this score? — see what drove the F 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 +12.4/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +3.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Appreciation +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

Welcome to 1512 E 22nd Street, a sun-drenched Multi home nestled in the heart of Midwood, Brooklyn. Sitting on a 15x100 lot with a 15x40 building footprint, this 4-bedroom, 3-bathroom property presents endless opportunities for homeowners, investors, or multi-generational living. Filled with beautiful natural light throughout, the home offers spacious living areas, flexible layouts, and the perfect canvas to create your dream residence or income-producing investment. Whether you're looking to live in one unit and collect rental income, customize for in-laws or maximize its full potential, the possibilities here are truly endless. Perfectly positioned by local shopping, restaurants, &

Key facts

• Nearby q train
• 15x100 lot
• Parks

Tags

• 15X100 LOT
• 15X40 BUILDING FOOTPRINT
• LOCAL SHOPPING
• RESTAURANTS
• PARKS
• NEARBY Q TRAIN

Property features AI

Finance

• Other: Multi-unit count listed as unavailable/unspecified
• Financial info: Annual taxes reported (amount withheld per instructions)
• HOA & community: Pet policy: building allows pets (details not provided)

Exterior

• Parking: Assigned garage parking; 1 garage space
• Security: No security features provided
• Utilities: Cooling provided by wall units
• Home design: Single-story building; Entry level is 1
• Construction: Green building
• Exterior features: Private outdoor space (terrace) larger than 60 sqft; Has a view

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Information on bedroom locations not provided
• Flooring: Flooring information not provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Wall unit cooling
• Interior features: Smoke-free property; Basement described as 'Other'; Total of 7 rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $969k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $760k (23.9% below list).
• Recommended offer: $760k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+2.1%/yr); 165 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 $7,600/mo this rent would consume 109% of the median local household income ($84k/yr) (locally 3513% 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 $7k of loan paydown is wiped out by about $30k 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 27 days — a 2% lower offer ($984k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $760,000 (23.9% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.76% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $874,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1705 Gerritsen Ave	0.62mi	5/3.0 (+1)	1,368 (+7%)	21mo	$935,000	$683	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 · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-179,600
• Equity at exit: $148,954

10-year hold

• IRR: -12.5%
• Equity multiple: 0.29×
• Total profit: $-198,644
• Equity at exit: $86,375

Cash invested: $279,720 (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 11210

• Rents YoY: 2.1%
• Active inventory: 165
• Price-to-rent: 32.9×

Monthly cashflow live

• Estimated rent: $7,600 medium
• Mortgage (P&I): −$5,239
• Tax from tax record: −$516 /mo · $6,191/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,596
• Net cashflow: $-167

Break-even live

Break-even rent $7,811

Max offer price $969,496

Occupancy floor 97%

Sensitivity live

Price	-10% $398	-5% $116	+0% $-167	+5% $-450	+10% $-733
Rent	-10% $-767	-5% $-467	+0% $-167	+5% $133	+10% $433
Rate	-1.0pp $336	-0.5pp $87	base $-167	+0.5pp $-426	+1.0pp $-689

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,599
Total (3 units)			$7,600

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2002 E 29th St Unit 2F Brooklyn, NY	4.0	1.5	1500	$3,600	$2.40	25d	1	1.00mi

Listing history 14 events

1. 2026-06-18
   days on market $999,000 Active 27 DOM
2. 2026-06-17
   days on market $999,000 Active 26 DOM
3. 2026-06-16
   days on market $999,000 Active 25 DOM
4. 2026-06-15
   days on market $999,000 Active 24 DOM
5. 2026-06-13
   days on market $999,000 Active 22 DOM
6. 2026-06-10
   days on market $999,000 Active 18 DOM
7. 2026-06-08
   days on market $999,000 Active 17 DOM
8. 2026-06-08
   days on market $999,000 Active 16 DOM
9. 2026-06-04
   days on market $999,000 Active 13 DOM
10. 2026-06-03
    days on market $999,000 Active 12 DOM
11. 2026-06-02
    days on market $999,000 Active 11 DOM
12. 2026-06-01
    days on market $999,000 Active 10 DOM
13. 2026-05-31
    days on market $999,000 Active 9 DOM
14. 2026-05-22
    listed $999,000 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: $6,191 · $516/mo
• Projected year-2 tax: $11,537 · $961/mo
• Expected delta: +$5,346/yr (+$446/mo · 86.4%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $91,200
• − Mortgage interest: −$55,960
• − Property taxes: −$6,191
• − Insurance: −$4,995
• − Repairs & maintenance: −$7,296
• − Management: −$7,296
• − Depreciation: −$29,062
• Taxable loss: −$19,599
• Est. tax savings @ 24.0%: +$4,704
• After-tax cash flow: $2,700/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): 57,915
• Household income: $83,692
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 3513.0

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: Black 50% White 30% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 2% Scotch-Irish 2%
• Foreign-born: 39% · Canada, China, Mexico
• Languages at home: 67% English-only · French/Haitian/Cajun 13% Spanish 5% Other Indo-European 3%

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: ▼ -831.01%
• Current HPI: 389.9293
• Rent YoY: ▲ 2.11%
• 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

1 event — show timeline

• 2026-05-22 Listed $999,000 RLS at REBNY

Property tax history

+5.2%/yr

Latest (2025): $6,191 · +4.9% YoY. Source: county tax records.