4311 4th Ave · New York, NY 11232

$1,350,000

12 bd · 6.0 ba · 4,248 sqft · MultiFamily public records · 888 Days on market

Built 1931 2,000 sqft lot Est $2362k · 43% under

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Why this score? — see what drove the B- 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 +19.0/30.0
• ARV discount +15.0/15.0
• Appreciation +9.2/10.0
• DSCR +6.0/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

An exceptional investment opportunity awaits with this property located at the heart of Sunset Park. It is conveniently closed to the N/R 45th Street Train Station and only steps away from all your daily routine needs. This home features six 2-bedroom apartments on this 3-story building. The finished Full basement with separate entrance adds versatility to the space. R7A/C2-4 zoning with approx 8,000 allowed buildable square feet. This property is prime for lucrative returns. Won’t last.

Key facts

• 2,000 sq ft lot
• Built 1931
• Listed 887 days

Property features AI

Finance

• Other: Six rental units (all currently leased)
• Financial info: Financing considered: bank mortgage, cash, or exchange

Exterior

• Parking: Street parking
• Utilities: Electric: 110V and 220V with circuit breakers; Hot water: Gas; Heating fuel: Gas
• Home design: Semi-detached building; Flat roof; Residential property; Zoned R7A
• Construction: Brick exterior; Poured concrete foundation; Building footprint approximately 1,500 (dimensions 60.00 x 25.00)
• Exterior features: Back yard

Interior

• Kitchen: Microwave; Refrigerator; Stove; Appliances included in individual units
• Bedrooms: Six 2-bedroom units (each unit has 2 bedrooms); Building totals: 12 bedrooms per floor across three floors (4 per floor)
• Flooring: Hardwood floors; Marble floors
• Bathrooms: Six full bathrooms (two full baths on each of the three levels)
• Heating & cooling: Baseboard heating (gas-fired); Window A/C units
• Interior features: Window A/C units; Microwave; Refrigerator; Stove; Finished basement with a separate entrance
• Laundry & utility: Heat included in units; Water included in units

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $350/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.31M (3.3% below list).
• Recommended offer: $1.19M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 (+6.3%/yr); 87 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,057/mo this rent would consume 172% 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.
• At projected returns (8.3% appreciation + 6.3% rent growth), your $378k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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 888 days — a 12% lower offer ($1.19M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.00M; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $1,188,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 888 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 0.97% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $2,361,888
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 43rd St	0.06mi	11/8.5 (-1)	4,000 (-6%)	16mo	$2,225,000	$556	59
719 55th St	0.73mi	11/6.0 (-1)	4,374 (+3%)	10mo	$1,770,000	$405	48
844 44th St	0.66mi	12/5.0	3,750 (-12%)	13mo	$2,265,000	$604	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 25.4%
• Equity multiple: 2.90×
• Total profit: $719,633
• Equity at exit: $1,057,654

10-year hold

• IRR: 23.9%
• Equity multiple: 6.63×
• Total profit: $2,127,590
• 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: 34.5×

Monthly cashflow live

• Estimated rent: $13,057 medium
• Mortgage (P&I): −$7,080
• Tax from tax record: −$1,272 /mo · $15,262/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,742
• Net cashflow: $1,401

Break-even live

Break-even rent $11,283

Max offer price $1,350,000

Occupancy floor 84%

Sensitivity live

Price	-10% $2,165	-5% $1,783	+0% $1,401	+5% $1,019	+10% $637
Rent	-10% $370	-5% $885	+0% $1,401	+5% $1,917	+10% $2,433
Rate	-1.0pp $2,081	-0.5pp $1,745	base $1,401	+0.5pp $1,051	+1.0pp $695

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$13,056
Total (4 units)			$13,057

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: —

Listing history 21 events

1. 2026-06-21
   days on market $1,350,000 Active 888 DOM
2. 2026-06-18
   days on market $1,350,000 Active 885 DOM
3. 2026-06-17
   days on market $1,350,000 Active 884 DOM
4. 2026-06-15
   days on market $1,350,000 Active 882 DOM
5. 2026-06-13
   days on market $1,350,000 Active 880 DOM
6. 2026-06-10
   days on market $1,350,000 Active 876 DOM
7. 2026-06-08
   days on market $1,350,000 Active 875 DOM
8. 2026-06-03
   days on market $1,350,000 Active 870 DOM
9. 2026-06-01
   days on market $1,350,000 Active 868 DOM
10. 2026-05-31
    days on market $1,350,000 Active 867 DOM
11. 2024-05-08
    price $1,350,000
12. 2024-01-15
    listed $1,530,000 Active
13. 2022-05-25
    soldstatus $1,000,000
14. 2021-12-09
    price $1,300,000
15. 2021-09-10
    price $1,390,000
16. 2021-09-01
    price $1,500,000
17. 2021-08-20
    price $1,600,000
18. 2021-08-18
    price $1,680,000
19. 2019-09-25
    soldstatus $1,380,000
20. 1983-11-01
    soldstatus $42,000
21. 1982-04-01
    soldstatus $26,363

ⓘ 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: $15,262 · $1,272/mo
• Projected year-2 tax: $19,038 · $1,587/mo
• Expected delta: +$3,777/yr (+$315/mo · 24.7%)

ⓘ 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 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: $156,684
• − Mortgage interest: −$75,621
• − Property taxes: −$15,262
• − Insurance: −$6,750
• − Repairs & maintenance: −$12,535
• − Management: −$12,535
• − Depreciation: −$39,273
• Taxable loss: −$5,291
• Est. tax savings @ 24.0%: +$1,270
• After-tax cash flow: $18,084/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

+5020.8% since first listed

11 events — show timeline

• 2024-05-08 Price Changed $1,350,000 BNYMLS
• 2024-01-15 Listed $1,530,000 BNYMLS
• 2022-05-25 Sold (Public Records) $1,000,000 Public Records
• 2021-12-09 Price Changed $1,300,000 BNYMLS
• 2021-09-10 Price Changed $1,390,000 BNYMLS
• 2021-09-01 Price Changed $1,500,000 BNYMLS
• 2021-08-20 Price Changed $1,600,000 BNYMLS
• 2021-08-18 Price Changed $1,680,000 BNYMLS
• 2019-09-25 Sold (Public Records) $1,380,000 Public Records
• 1983-11-01 Sold (Public Records) $42,000 Public Records
• 1982-04-01 Sold (Public Records) $26,363 Public Records

Property tax history

+5.4%/yr

Latest (2025): $15,262 · +2.3% YoY. Source: county tax records.