118 Scribner Ave · New York, NY 10301

$724,888

7 bd · 3.0 ba · 1,544 sqft · MultiFamily public records · 73 Days on market

Built 1899 2,517 sqft lot Est $736k · at est.

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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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• 1% rule +7.0/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

GREAT INVESTMENT 4 BEDROOM AND 3 BEDROOM APARTMENTS PLUS FINISHED BASEMENT. Level 1: LR, DR, EIK, 3 BEDROOMS, FULL BATH Level 2: LR, DR, EIK, 4 BEDROOMS, FULL BATH Basement: FULL FINISHED, ENTRANCE, 3/4 BATH

Key facts

• 2,517 sq ft lot
• Built 1899
• Listed 73 days

Property features AI

Finance

• Other: Property condition described as excellent
• Financial info: Two-unit property; Unit 1 reported rent: $2,300/month; No additional income/expense or investor cash flow details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Street parking available; No attached garage
• Security: No specific security features provided
• Utilities: 110V electric service; Natural gas available; Municipal water and sewer likely (no specific details provided)
• Home design: Two-story multi-family property; Total building area ~2,288 square feet
• Construction: Aluminum siding construction; Year built listed as approximate
• Exterior features: Aluminum siding; Lot dimensions approximately 25.2 x 100; Small lot (about 0.06 acres); Zoned R3A

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Unit 1: 3 bedrooms (first level); Unit 2: 4 bedrooms (second level)
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms total (including 1 bath in Unit 1)
• Heating & cooling: Natural gas heating with forced air; Window units for cooling
• Interior features: Finished basement; Window air conditioning units; Laundry area; Storage space
• Laundry & utility: On-site laundry

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $725k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $725k).
• Recommended offer: $681k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+6.1%/yr); 263 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $8,705/mo this rent would consume 122% of the median local household income ($86k/yr) (locally 2008% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $203k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($681k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $44k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $575k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $681,394 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.20% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $736,488
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 Corson Ave	0.23mi	7/2.0	1,584 (+3%)	5mo	$755,000	$477	77
435 Castleton Ave	0.63mi	6/2.0 (-1)	1,600 (+4%)	4mo	$711,000	$444	52

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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.33×
• Total profit: $66,351
• Equity at exit: $108,083

10-year hold

• IRR: 19.6%
• Equity multiple: 2.87×
• Total profit: $379,278
• Equity at exit: $62,675

Cash invested: $202,969 (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 10301

• Rents YoY: 6.1%
• Active inventory: 263
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $8,705 medium
• Mortgage (P&I): −$3,801
• Tax from tax record: −$319 /mo · $3,828/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,828
• Net cashflow: $2,455

Break-even live

Break-even rent $5,598

Max offer price $724,888

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,139
1× unit	4	1	$3,397
1× unit	0	0.75	$2,169
Total (3 units)			$8,705

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: $181,222
• Closing costs: $21,747
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $724,888 Active 73 DOM
2. 2026-06-17
   days on market $724,888 Active 72 DOM
3. 2026-06-15
   days on market $724,888 Active 70 DOM
4. 2026-06-13
   days on market $724,888 Active 68 DOM
5. 2026-06-10
   days on market $724,888 Active 64 DOM
6. 2026-06-08
   days on market $724,888 Active 63 DOM
7. 2026-06-08
   days on market $724,888 Active 62 DOM
8. 2026-06-04
   days on market $724,888 Active 59 DOM
9. 2026-06-03
   days on market $724,888 Active 58 DOM
10. 2026-06-01
    days on market $724,888 Active 56 DOM
11. 2026-05-31
    days on market $724,888 Active 55 DOM
12. 2026-05-06
    price $724,888
13. 2026-04-16
    price $748,888
14. 2026-04-03
    listed $768,888 Active
15. 2021-05-17
    soldstatus $575,000
16. 2016-02-17
    historical
17. 2014-12-09
    historical
18. 2014-08-26
    soldstatus $300,000
19. 2014-08-18
    soldstatus $300,000
20. 2014-03-03
    listed $349,000
21. 2009-08-19
    soldstatus $300,000
22. 2009-01-28
    listed $349,900
23. 2005-10-04
    soldstatus $395,000
24. 2004-09-23
    listed $449,000
25. 1993-06-28
    soldstatus $50,000
26. 1993-01-05
    soldstatus $122,000
27. 1988-02-26
    soldstatus $120,000
28. 1985-11-01
    soldstatus $61,000

ⓘ 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: $3,828 · $319/mo
• Projected year-2 tax: $8,039 · $670/mo
• Expected delta: +$4,211/yr (+$351/mo · 110.0%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $104,460
• − Mortgage interest: −$40,605
• − Property taxes: −$3,828
• − Insurance: −$3,624
• − Repairs & maintenance: −$8,357
• − Management: −$8,357
• − Depreciation: −$21,088
• Taxable income: $18,601
• Est. tax owed @ 24.0%: −$4,464
• After-tax cash flow: $24,990/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

+1088.3% since first listed

17 events — show timeline

• 2026-05-06 Price Changed $724,888 SIBORMLS
• 2026-04-16 Price Changed $748,888 SIBORMLS
• 2026-04-03 Listed $768,888 SIBORMLS
• 2021-05-17 Sold (Public Records) $575,000 Public Records
• 2016-02-17 Listing Removed — SIBORMLS
• 2014-12-09 Listing Removed — SIBORMLS
• 2014-08-26 Sold (Public Records) $300,000 Public Records
• 2014-08-18 Sold (MLS) $300,000 SIBORMLS
• 2014-03-03 Listed $349,000 SIBORMLS
• 2009-08-19 Sold (Public Records) $300,000 Public Records
• 2009-01-28 Listed $349,900 SIBORMLS
• 2005-10-04 Sold (Public Records) $395,000 Public Records
• 2004-09-23 Listed $449,000 SIBORMLS
• 1993-06-28 Sold (Public Records) $50,000 Public Records
• 1993-01-05 Sold (Public Records) $122,000 Public Records
• 1988-02-26 Sold (Public Records) $120,000 Public Records
• 1985-11-01 Sold (Public Records) $61,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,828 · +6.0% YoY. Source: county tax records.