766 E 53rd St · New York, NY 11203

$420,000

4 bd · 2.0 ba · 2,304 sqft · MultiFamily public records · 4 Days on market

Built 1940 2,335 sqft lot ↓ 12% since listing

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• 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: 2 units. confirmed

Listing remarks

This two-family brick home needs work and it's subject to third party approval.

Key facts

• 2,335 sq ft lot
• 2 parking spots
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $738/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $420k).
• Cap rate 10.5% 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 (+2.9%/yr); 190 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,712/mo this rent would consume 101% of the median local household income ($68k/yr) (locally 5458% 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 $3k of loan paydown is wiped out by about $13k 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 + 2.9% rent growth), your $118k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $420,000

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 1940 — 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: 1.36% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $910,080
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5531 Kings Hwy	0.36mi	5/3.0 (+1)	2,214 (-4%)	4mo	$965,000	$436	65
236 E 87th St	0.64mi	4/2.0	2,332 (+1%)	9mo	$810,000	$347	60
567 E 81 St	0.52mi	5/2.5 (+1)	2,304 (0%)	15mo	$1,050,000	$456	56
752 E 51 St	0.19mi	4/3.0	2,080 (-10%)	21mo	$730,000	$351	54
5325 Clarendon Rd	0.30mi	4/3.5	2,400 (+4%)	24mo	$550,000	$229	53
5218 Tilden Ave	0.52mi	5/3.0 (+1)	2,204 (-4%)	13mo	$870,000	$395	49
602 E 81 St	0.56mi	5/3.5 (+1)	2,250 (-2%)	14mo	$840,000	$373	47
747 E 78th St	0.70mi	5/2.5 (+1)	2,214 (-4%)	12mo	$975,000	$440	44
729 E 81 St	0.74mi	4/3.0	2,109 (-8%)	18mo	$1,150,000	$545	32

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 · 2.89% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $25,509
• Equity at exit: $62,623

10-year hold

• IRR: 14.9%
• Equity multiple: 2.20×
• Total profit: $141,389
• Equity at exit: $36,314

Cash invested: $117,600 (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 11203

• Rents YoY: 2.9%
• Active inventory: 190
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $5,712 medium
• Mortgage (P&I): −$2,203
• Tax from tax record: −$659 /mo · $7,903/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,200
• Net cashflow: $1,476

Break-even live

Break-even rent $3,843

Max offer price $420,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,714	-5% $1,595	+0% $1,476	+5% $1,357	+10% $1,239
Rent	-10% $1,025	-5% $1,251	+0% $1,476	+5% $1,702	+10% $1,928
Rate	-1.0pp $1,688	-0.5pp $1,583	base $1,476	+0.5pp $1,368	+1.0pp $1,257

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,712
Total (2 units)			$5,712

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2023-12-13
   status Pending
2. 2023-12-09
   listed $420,000 Active
3. 2007-04-11
   soldstatus $477,000

ⓘ 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: $7,903 · $659/mo
• Projected year-2 tax: $7,903 · $659/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 22% 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 64% 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: $68,544
• − Mortgage interest: −$23,527
• − Property taxes: −$7,903
• − Insurance: −$2,100
• − Repairs & maintenance: −$5,484
• − Management: −$5,484
• − Depreciation: −$12,218
• Taxable income: $11,829
• Est. tax owed @ 24.0%: −$2,839
• After-tax cash flow: $14,877/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): 74,817
• Household income: $67,897
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 5458.0

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% Two or more races 10% Hispanic / Latino 7% White 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 9%
• Foreign-born: 49% · Canada, Mexico, China
• Languages at home: 81% English-only · French/Haitian/Cajun 10% Spanish 5% 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: ▼ -572.37%
• Current HPI: 379.2379
• Rent YoY: ▲ 2.89%
• 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

-11.9% since first listed

3 events — show timeline

• 2023-12-13 Pending — BNYMLS
• 2023-12-09 Listed $420,000 BNYMLS
• 2007-04-11 Sold (Public Records) $477,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $7,903 · +0.1% YoY. Source: county tax records.