3614 Avenue S · New York, NY 11234

$799,000

6 bd · 4.0 ba · 1,330 sqft · MultiFamily public records · 77 Days on market

Built 1940 1,600 sqft lot Est $908k · 12% under

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Why this score? — see what drove the D+ 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).

• ARV discount +12.9/15.0
• Cash flow +12.8/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• 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 MLS

2 FAM BRICK IN HEART OF MARINE PK, EXC MIC,PERFECT MOTHER/DAUGHTER, FRONT PVT DWY, 1 CARGARAGE AND REAR PVT YARD, OPEN KIT AND DINETTE WITHCT FLR AND GRANITE COUNTER TOP, REPLACEMENT WNDWS,NEW STEEL FRT/RR DOORS, FULLY ALARMED, SKYLITE,INTERIOR SPIRAL STAIRS, NEW HWH, FRT PORCH, SHOWAND SEEL, WILL NOT LAST, BK PATIO, BBQ, NEWDISHWASHER

Key facts

• Private driveway
• Updated kitchen
• 1 car garage

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• GENEROUS CLOSET SPACE
• PRIVATE DRIVEWAY
• 1 CAR GARAGE

Property features AI

Finance

• Other: Zoning: R4
• Financial info: Financing available: Bank mortgage or cash; Property configured as a 2-unit multi-family (two rental units); Unit 1 current rent: $1,600 (month-to-month); Unit 2 current rent: $2,500

Exterior

• Parking: Private drive; 1 parking space
• Utilities: 200 Amp electric service; Gas hot water and heating
• Home design: Attached building; Flat roof
• Construction: Brick construction; Slab concrete foundation
• Exterior features: Back yard; Fully fenced yard

Interior

• Kitchen: Stove/Oven; Refrigerator
• Bedrooms: Total of 3 bedrooms across units (1 on first floor, 2 on second floor); Unit 1: 1-bedroom apartment (first floor); Unit 2: 2-bedroom apartment (second floor)
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: 2 full bathrooms total (1 on first floor, 1 on second floor)
• Heating & cooling: Steam/radiator heat; Gas-fired hot water; 3 A/C units
• Interior features: Central air conditioning with 3 A/C units; Garage door opener; Patio/garden; Porch; Appliances included: Refrigerator, Stove/Oven; Washer and Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $-75 ($-896/yr) — negative. Per door: $-37/mo.
• To cash-flow at today's rent, offer at most $786k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $617k (22.8% below list).
• Recommended offer: $617k (22.8% 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: Ps 207 Elizabeth G Leary (math 70% / reading 70%, grade A-, #447 of 2,108 statewide, top 24%, 896 students, 54% FRL); Jhs 278 Marine Park (math 47% / reading 67%, grade B, #192 of 729 statewide, top 28%, 1,076 students, 71% 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 (+16.2%/yr); 461 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,172/mo this rent would consume 76% of the median local household income ($97k/yr) (locally 2384% 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 $24k 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 77 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $425k; list at $799k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $617,200 (22.8% 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 77 days. Have you received any prior offers? Is the seller open to a 23% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.77% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $908,390
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1705 Gerritsen Ave	0.65mi	5/3.0 (-1)	1,368 (+3%)	21mo	$935,000	$683	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.54×
• Total profit: $-101,870
• Equity at exit: $119,133

10-year hold

• IRR: 2.7%
• Equity multiple: 1.24×
• Total profit: $52,576
• Equity at exit: $69,083

Cash invested: $223,720 (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 11234

• Rents YoY: 16.2%
• Active inventory: 461
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $6,172 medium
• Mortgage (P&I): −$4,190
• Tax from tax record: −$428 /mo · $5,131/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,296
• Net cashflow: $-75

Break-even live

Break-even rent $6,267

Max offer price $785,805

Occupancy floor 96%

Sensitivity live

Price	-10% $378	-5% $151	+0% $-75	+5% $-301	+10% $-527
Rent	-10% $-562	-5% $-318	+0% $-75	+5% $169	+10% $413
Rate	-1.0pp $328	-0.5pp $129	base $-75	+0.5pp $-282	+1.0pp $-492

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$6,172
Total (2 units)			$6,172

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-15
   statusdays on market $799,000 Pending 77 DOM
2. 2026-06-10
   days on market $799,000 Active 76 DOM
3. 2026-06-08
   days on market $799,000 Active 75 DOM
4. 2026-06-08
   days on market $799,000 Active 74 DOM
5. 2026-06-04
   days on market $799,000 Active 71 DOM
6. 2026-06-03
   days on market $799,000 Active 70 DOM
7. 2026-06-01
   days on market $799,000 Active 68 DOM
8. 2026-05-31
   days on market $799,000 Active 67 DOM
9. 2026-05-05
   price $799,000
10. 2026-04-15
    price $829,000
11. 2026-03-23
    listed $849,000 Active
12. 2005-12-07
    soldstatus $425,000
13. 2000-10-18
    soldstatus $220,000
14. 2000-04-08
    listed $229,000 337-char remark

    Show marketing remark (337 chars)

    2 FAM BRICK IN HEART OF MARINE PK, EXC MIC,PERFECT MOTHER/DAUGHTER, FRONT PVT DWY, 1 CARGARAGE AND REAR PVT YARD, OPEN KIT AND DINETTE WITHCT FLR AND GRANITE COUNTER TOP, REPLACEMENT WNDWS,NEW STEEL FRT/RR DOORS, FULLY ALARMED, SKYLITE,INTERIOR SPIRAL STAIRS, NEW HWH, FRT PORCH, SHOWAND SEEL, WILL NOT LAST, BK PATIO, BBQ, NEWDISHWASHER

15. 1992-10-07
    soldstatus $165,000

ⓘ 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: $5,131 · $428/mo
• Projected year-2 tax: $9,317 · $776/mo
• Expected delta: +$4,186/yr (+$349/mo · 81.6%)

ⓘ 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) · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $74,064
• − Mortgage interest: −$44,756
• − Property taxes: −$5,131
• − Insurance: −$3,995
• − Repairs & maintenance: −$5,925
• − Management: −$5,925
• − Depreciation: −$23,244
• Taxable loss: −$14,913
• Est. tax savings @ 24.0%: +$3,579
• After-tax cash flow: $2,683/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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 6%

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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

+384.2% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $799,000 BNYMLS
• 2026-04-15 Price Changed $829,000 BNYMLS
• 2026-03-23 Listed $849,000 BNYMLS
• 2005-12-07 Sold (Public Records) $425,000 Public Records
• 2000-10-18 Sold (Public Records) $220,000 Public Records
• 2000-04-08 Listed $229,000 BNYMLS
• 1992-10-07 Sold (Public Records) $165,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $5,131 · -2.4% YoY. Source: county tax records.