355 58th St · New York, NY 11220

$1,850,000

24 bd · 8.8 ba · 6,916 sqft · MultiFamily public records · 11 Days on market

Built 1906 2,672 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 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: 8 units. confirmed

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

Rare oversized 8-family investment property in the heart of Sunset Park! Situated on a 27' x 100' lot with an impressive 27' x 70' building size, this well-maintained property features 8 spacious 3-bedroom apartments and 9 full bathrooms. Four stories with 2 apartments per floor over a full basement with a separate entrance. Currently generating approximately $160,260 in annual income with an attractive 6.65% cap rate. Excellent long-term investment opportunity in one of Brooklyn's most sought-after neighborhoods. Conveniently located near shopping, restaurants, schools, and public transportation. Strong rental demand and stable cash flow make this a rare find for investors.

Key facts

• Separate entrance
• 27 x 100 lot
• Annual income

Tags

• 27 X 100 LOT
• 27 X 70 BUILDING SIZE
• 4 STORIES
• FULL BASEMENT
• SEPARATE ENTRANCE
• ANNUAL INCOME

Property features AI

Finance

• Other: Zoning: R6A
• Financial info: Financing options may include cash, bank mortgage, or exchange considered

Exterior

• Parking: No parking on site reported
• Utilities: Electric: 110V and 220V with circuit breakers; Hot water: Gas; Heating fuel: Gas; Heat delivery: Steam/radiator; Utility expense listed (reported)
• Home design: Attached building; Residential property; Flat roof
• Construction: Brick construction; Poured concrete foundation; Building footprint approximately 1,890 sq ft; Building dimensions about 70.00 x 27.00
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Total of 40 rooms (includes bedrooms and other rooms)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 9 full bathrooms
• Heating & cooling: Gas-fired hot water; Heat delivered by steam/radiator; No AC units reported
• Interior features: Refrigerator; Stove; Hardwood floors; Tile floors; Full basement with separate entrance; No central air conditioning units reported
• Laundry & utility: Utility systems include 110V and 220V electrical with circuit breakers; Hot water provided by gas

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/1.1-bath units multifamily listed at $1.85M.

Deal economics

• At list price, monthly cash flow is $7k ($87k/yr) — positive. Per door: $902/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.85M).
• Cap rate 11.0% 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 220 John J Pershing (math 62% / reading 62%, grade B+, #136 of 729 statewide, top 20%, 1,229 students, 88% 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 (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $24,096/mo this rent would consume 414% of the median local household income ($70k/yr) (locally 6563% 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 $117k of equity ($13k loan paydown + $104k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $518k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$187k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $1.60M; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $1,850,000

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 1906 — 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: 1.30% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.09×
• Total profit: $1,080,846
• Equity at exit: $1,120,361

10-year hold

• IRR: 31.9%
• Equity multiple: 7.07×
• Total profit: $3,146,253
• Equity at exit: $1,995,912

Cash invested: $518,000 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 51.2×

Monthly cashflow live

• Estimated rent: $24,096 medium
• Mortgage (P&I): −$9,702
• Tax from tax record: −$1,346 /mo · $16,155/yr
• Insurance: −$771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,060
• Net cashflow: $7,217

Break-even live

Break-even rent $14,960

Max offer price $1,850,000

Occupancy floor 65%

Sensitivity live

Price	-10% $8,264	-5% $7,741	+0% $7,217	+5% $6,694	+10% $6,170
Rent	-10% $5,314	-5% $6,265	+0% $7,217	+5% $8,169	+10% $9,121
Rate	-1.0pp $8,149	-0.5pp $7,688	base $7,217	+0.5pp $6,738	+1.0pp $6,250

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	1.1	$24,096
Total (8 units)			$24,096

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: $462,500
• Closing costs: $55,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $1,850,000 Active 11 DOM
2. 2026-06-18
   days on market $1,850,000 Active 8 DOM
3. 2026-06-17
   days on market $1,850,000 Active 7 DOM
4. 2026-06-16
   days on market $1,850,000 Active 6 DOM
5. 2026-06-15
   days on market $1,850,000 Active 5 DOM
6. 2026-06-13
   remarks 683-char remark
7. 2026-06-13
   listed $1,850,000 Active 3 DOM

ⓘ 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: $16,155 · $1,346/mo
• Projected year-2 tax: $23,710 · $1,976/mo
• Expected delta: +$7,555/yr (+$630/mo · 46.8%)

ⓘ 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 6/10 Major 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: $289,152
• − Mortgage interest: −$103,629
• − Property taxes: −$16,155
• − Insurance: −$9,250
• − Repairs & maintenance: −$23,132
• − Management: −$23,132
• − Depreciation: −$53,818
• Taxable income: $60,036
• Est. tax owed @ 24.0%: −$14,409
• After-tax cash flow: $72,197/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

+764.5% since first listed

6 events — show timeline

• 2026-06-10 Listed $1,850,000 BNYMLS
• 2017-05-05 Sold (Public Records) $1,600,000 Public Records
• 2008-04-28 Sold (Public Records) $765,000 Public Records
• 2002-02-27 Sold (Public Records) $390,000 Public Records
• 1992-08-25 Sold (Public Records) $200,000 Public Records
• 1988-06-23 Sold (Public Records) $214,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $16,155 · +2.2% YoY. Source: county tax records.