697 Sheffield Ave · New York, NY 11207

$850,000

4 bd · 6.0 ba · 2,034 sqft · MultiFamily public records · 81 Days on market

Built 2008 1,151 sqft lot Est $732k · 16% 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 +12.7/30.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Turnkey Two-Family Investment in Prime Brooklyn Location Discover this pristine all-brick two-family home built in 2008, featuring modern finishes, brand-new appliances, and move-in ready condition — no renovations required. Perfect for owner-occupiers or investors seeking strong rental income and long-term appreciation. Key Features Total Interior: 2,034 sq ft over three stories plus basement Layout: 1st & 2nd floor duplex: 2 bedrooms, 1 living room, 1 bathroom 2nd & 3rd floor duplex: 3 bedrooms, 1 living room, 3 bathrooms Basement: Vacant with half bath, rear yard access, 8-ft ceilings, two new boilers, two hot water heaters, two electric meters , two gas meters Annual

Key facts

• Brand new appliances
• Modern finishes
• Two family home

Tags

• TWO FAMILY HOME
• MODERN FINISHES
• BRAND NEW APPLIANCES
• MOVE IN READY CONDITION
• STRONG RENTAL INCOME
• LONG TERM APPRECIATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Cable connected
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Flooring: Hardwood flooring
• Bathrooms: Five full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Formal dining room; Full, partially finished basement with walk-out access
• Laundry & utility: Utilities connected: electricity, natural gas, water; Cable connected

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative. Per door: $-50/mo.
• To cash-flow at today's rent, offer at most $832k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $664k (21.9% below list).
• Recommended offer: $664k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+5.3%/yr); 254 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,636/mo this rent would consume 141% of the median local household income ($57k/yr) (locally 7510% 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 $6k of loan paydown is wiped out by about $26k 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 81 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $313k; list at $850k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $663,600 (21.9% 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 81 days. Have you received any prior offers? Is the seller open to a 22% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $732,240
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
668 Van Siclen Ave	0.32mi	4/3.0	2,175 (+7%)	6mo	$780,000	$359	57
317 Pennsylvania Ave	0.69mi	4/3.0	2,060 (+1%)	2mo	$750,000	$364	52
780 Hendrix St	0.37mi	5/3.0 (+1)	1,848 (-9%)	2mo	$889,000	$481	49
733 Warwick St	0.60mi	5/2.0 (+1)	2,000 (-2%)	9mo	$720,000	$360	42
28 Malta St	0.18mi	4/2.0	1,800 (-12%)	17mo	$431,000	$239	42

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.46×
• Total profit: $-128,720
• Equity at exit: $126,738

10-year hold

• IRR: -3.1%
• Equity multiple: 0.77×
• Total profit: $-53,986
• Equity at exit: $73,492

Cash invested: $238,000 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 254
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $6,636 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$531 /mo · $6,374/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,394
• Net cashflow: $-100

Break-even live

Break-even rent $6,763

Max offer price $832,259

Occupancy floor 97%

Sensitivity live

Price	-10% $381	-5% $140	+0% $-100	+5% $-341	+10% $-582
Rent	-10% $-625	-5% $-363	+0% $-100	+5% $162	+10% $424
Rate	-1.0pp $328	-0.5pp $116	base $-100	+0.5pp $-321	+1.0pp $-545

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,636
Total (2 units)			$6,636

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $850,000 Active 81 DOM
2. 2026-06-18
   days on market $850,000 Active 78 DOM
3. 2026-06-17
   days on market $850,000 Active 77 DOM
4. 2026-06-15
   days on market $850,000 Active 75 DOM
5. 2026-06-13
   days on market $850,000 Active 73 DOM
6. 2026-06-10
   days on market $850,000 Active 69 DOM
7. 2026-06-08
   days on market $850,000 Active 68 DOM
8. 2026-06-08
   pricedays on market $850,000 Active 67 DOM
9. 2026-06-04
   days on market $878,000 Active 64 DOM
10. 2026-06-03
    days on market $878,000 Active 63 DOM
11. 2026-06-01
    days on market $878,000 Active 61 DOM
12. 2026-05-31
    days on market $878,000 Active 60 DOM
13. 2026-05-20
    price $878,000
14. 2026-04-01
    listed $900,000 Active
15. 2012-05-01
    soldstatus $313,100
16. 2010-09-10
    soldstatus $100,000
17. 2006-05-12
    soldstatus $500,000

ⓘ 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: $6,374 · $531/mo
• Projected year-2 tax: $10,370 · $864/mo
• Expected delta: +$3,995/yr (+$333/mo · 62.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $79,632
• − Mortgage interest: −$47,613
• − Property taxes: −$6,374
• − Insurance: −$4,250
• − Repairs & maintenance: −$6,371
• − Management: −$6,371
• − Depreciation: −$24,727
• Taxable loss: −$16,074
• Est. tax savings @ 24.0%: +$3,858
• After-tax cash flow: $2,653/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+75.6% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $878,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listed $900,000 OneKey® MLS as Distributed by MLS Grid
• 2012-05-01 Sold (Public Records) $313,100 Public Records
• 2010-09-10 Sold (Public Records) $100,000 Public Records
• 2006-05-12 Sold (Public Records) $500,000 Public Records

Property tax history

+30.6%/yr

Latest (2025): $6,374 · +3.4% YoY. Source: county tax records.