23 Kenilworth Pl · New York, NY 11210

$959,900

5 bd · 2.0 ba · 2,120 sqft · MultiFamily public records · 46 Days on market

Built 1901 2,000 sqft lot Est $1075k · 11% under ↓ 4% since listing

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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).

• Cash flow +13.8/30.0
• ARV discount +12.3/15.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• 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

This five-bedroom, two-bathroom multi-unit property is located in prime Flatbush. This property presents a compelling investment opportunity with good layout, and ample lot space offering significant potential for the right investor. In need of gut renovation, this railroad apartment configuration offers flexible possibilities for creative redesign and value enhancement. The location provides exceptional convenience with proximity to Brooklyn College, making it attractive for student housing or academic professionals. Flatbush Junction Shopping, #2 & 5 Trains, and MTA buses nearby ensures residents have easy access to retail, dining and transportation options. This is a great investme

Key facts

• Gut renovation
• Ample lot space
• 2,000 sq ft lot

Tags

• AMPLE LOT SPACE
• GUT RENOVATION
• PROXIMITY TO BROOKLYN COLLEGE
• FLATBUSH JUNCTION SHOPPING
• EASY ACCESS TO RETAIL

Property features AI

Finance

• Other: Lot dimensions approximately 20 x 100; Zoning: R5B; Building footprint approximately 900; Total rooms: 9
• Financial info: Financing: Cash

Exterior

• Parking: Street parking
• Utilities: 220V electric service; Gas hot water; Gas heating
• Home design: Attached building; Residential property; Flat roof; Facing direction not specified; 2 units (multi-family)
• Construction: Brick construction; Poured concrete foundation; Building dimensions approximately 45.00 x 20.00
• Exterior features: Back yard

Interior

• Bedrooms: Unit 1 — 2 bedrooms (first floor); Unit 2 — 3 bedrooms (second floor)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms total — one full bath in each unit
• Heating & cooling: Gas-fired hot water heating; No central air units
• Interior features: Hardwood floors; Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $960k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $775k (19.2% below list).
• Recommended offer: $775k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+2.1%/yr); 165 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,752/mo this rent would consume 111% of the median local household income ($84k/yr) (locally 3513% 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 $7k of loan paydown is wiped out by about $29k 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 46 days — a 3% lower offer ($931k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $775,200 (19.2% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.81% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $1,074,840
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
257 E 28th St	0.57mi	5/4.0	2,128 (+0%)	1mo	$1,450,000	$681	64
2312 Newkirk Ave	0.33mi	5/3.0	2,160 (+2%)	19mo	$999,000	$463	61
1299 Rogers Ave	0.18mi	4/3.0 (-1)	1,961 (-8%)	11mo	$860,000	$439	61
147 E 29th St	0.72mi	5/3.0	2,070 (-2%)	8mo	$1,050,000	$507	52
381 E 31st St	0.46mi	4/2.0 (-1)	1,815 (-14%)	8mo	$1,100,000	$606	43
349 E 28th St	0.45mi	6/4.5 (+1)	1,814 (-14%)	5mo	$920,000	$507	36

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 · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-157,027
• Equity at exit: $143,124

10-year hold

• IRR: -10.0%
• Equity multiple: 0.41×
• Total profit: $-158,214
• Equity at exit: $82,995

Cash invested: $268,772 (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 11210

• Rents YoY: 2.1%
• Active inventory: 165
• Price-to-rent: 29.9×

Monthly cashflow live

• Estimated rent: $7,752 medium
• Mortgage (P&I): −$5,034
• Tax from tax record: −$602 /mo · $7,219/yr
• Insurance: −$400
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,628
• Net cashflow: $89

Break-even live

Break-even rent $7,640

Max offer price $959,900

Occupancy floor 94%

Sensitivity live

Price	-10% $632	-5% $360	+0% $89	+5% $-183	+10% $-455
Rent	-10% $-524	-5% $-217	+0% $89	+5% $395	+10% $701
Rate	-1.0pp $572	-0.5pp $333	base $89	+0.5pp $-160	+1.0pp $-413

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,344
1× unit	1	1	$2,407
Total (3 units)			$7,752

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: $239,975
• Closing costs: $28,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 E 3rd St Unit 2 Brooklyn, NY	4.0	1.0	1650	$4,000	$2.42	25d	1	1.29mi
825 McDonald Ave Unit 3 Brooklyn, NY	4.0	1.0	1500	$3,000	$2.00	15d	1	1.39mi

Listing history 6 events

1. 2026-06-04
   status $959,900 Pending 46 DOM
2. 2026-06-03
   days on market $959,900 Active 46 DOM
3. 2026-06-01
   days on market $959,900 Active 44 DOM
4. 2026-05-31
   days on market $959,900 Active 43 DOM
5. 2026-05-12
   price $959,900
6. 2026-04-17
   listed $999,000 Active

ⓘ 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: $7,219 · $602/mo
• Projected year-2 tax: $11,721 · $977/mo
• Expected delta: +$4,502/yr (+$375/mo · 62.4%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $93,024
• − Mortgage interest: −$53,769
• − Property taxes: −$7,219
• − Insurance: −$4,800
• − Repairs & maintenance: −$7,442
• − Management: −$7,442
• − Depreciation: −$27,924
• Taxable loss: −$15,572
• Est. tax savings @ 24.0%: +$3,737
• After-tax cash flow: $4,802/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): 57,915
• Household income: $83,692
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 3513.0

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: Black 50% White 30% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 2% Scotch-Irish 2%
• Foreign-born: 39% · Canada, China, Mexico
• Languages at home: 67% English-only · French/Haitian/Cajun 13% Spanish 5% Other Indo-European 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: ▼ -831.01%
• Current HPI: 389.9293
• Rent YoY: ▲ 2.11%
• 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

-3.9% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $959,900 BNYMLS
• 2026-04-17 Listed $999,000 BNYMLS

Property tax history

+4.9%/yr

Latest (2025): $7,219 · +0.7% YoY. Source: county tax records.