1673 83rd St · New York, NY 11214

$1,659,000

3 bd · 4.5 ba · 2,000 sqft · MultiFamily public records · 66 Days on market

Built 1899 2,000 sqft lot Est $1368k · 21% over

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Why this score? — see what drove the F 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 +5.5/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Introducing a well-kept three-dwelling brick home located in the heart of Bensonhurst, featuring a spacious 20x50 building size. Located on an extremely convenient block, the property is just minutes away from parks, shops, restaurants, and schools. Transportation is excellent, with the D train at 79th Street and the nearby B1/B8 buses, providing quick access to Manhattan and other parts of NYC—perfect for commuters. This house includes three units. Has 1 bedroom and 1.5 bathrooms (easily convertible to 2 bedrooms), an open kitchen, dining area, and living room. The first floor includes 1 bedroom (easily convertible to a 3-bedroom), dining room, living room, kitchen, and a full bath,

Key facts

• Well-kept brick home
• 2,000 sq ft lot
• Built 1899

Tags

• WELL-KEPT BRICK HOME
• SPACIOUS BUILDING SIZE
• STEPS AWAY FROM PARKS
• STEPS AWAY FROM SHOPS
• STEPS AWAY FROM RESTAURANTS
• STEPS AWAY FROM SCHOOLS

Property features AI

Finance

• Other: Three-unit multi-family building (Unit 1: 2-bed, 2-bath; Unit 2: 2-bed, 1-bath; Unit 3: 3-bed, 1-bath); All units listed with appliances included; Units currently have no leases
• Financial info: Rent income reported: $6,200; Utilities expense reported: $1,500; Financing options considered: cash, bank mortgage, exchange

Exterior

• Parking: No parking
• Utilities: Electric: 110V and 220V; Hot water: Gas
• Home design: Attached building; Residential property; Flat rubber roof; Building footprint approximately 1,000 sq ft; Building dimensions roughly 50.00 x 20.00; Zoning: R5
• Construction: Brick/masonry construction; Brick exterior; Poured concrete foundation; Built with a flat/rubber roof
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Stove/Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms on level 1; 1 bedroom on level 2; 3 bedrooms on level 3
• Flooring: Carpeting; Hardwood floors; Tile floors
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom; 1 half bathroom; Level 1: 2 bathrooms; Level 2: 1 bathroom; Level 3: 1 bathroom
• Heating & cooling: Gas heating with steam/radiator delivery
• Interior features: Deck; Walk-in basement; Other basement features; 5+ AC units
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 1.0-bed/1.5-bath units multifamily listed at $1.66M.

Deal economics

• At list price, monthly cash flow is $-4k ($-42k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $1.03M (37.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $777k (53.2% below list).
• Recommended offer: $777k (53.2% below list) — sets the bar for 1% rule.
• Cap rate 3.7% 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 204 Vince Lombardi (math 69% / reading 72%, grade A-, #442 of 2,108 statewide, top 21%, 1,005 students, 75% FRL); Madeleine Brennan School (The) (math 71% / reading 79%, grade A, #54 of 729 statewide, top 8%, 1,554 students, 76% 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 (+5.9%/yr); 334 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,772/mo this rent would consume 142% of the median local household income ($66k/yr) (locally 6028% 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 $11k of loan paydown is wiped out by about $50k 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 66 days — a 6% lower offer ($1.56M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $777,200 (53.2% 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 66 days. Have you received any prior offers? Is the seller open to a 53% 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 1899 — 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: 0.47% ✗
• Cap rate: 3.74%
• Cash-on-cash: -9.13%
• DSCR: 0.59
• GRM: 17.8

CMA / ARV

• ARV (on-the-fly): $1,368,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Bay 20th St	0.35mi	3/3.0	1,961 (-2%)	5mo	$1,600,000	$816	70
1455 83rd St	0.32mi	4/2.5 (+1)	1,938 (-3%)	2mo	$1,330,000	$686	65
1632 83rd St	0.07mi	4/3.0 (+1)	1,780 (-11%)	3mo	$1,310,000	$736	65
1316 85th St	0.54mi	3/2.5	2,105 (+5%)	1mo	$1,467,500	$697	57
1525 85th St	0.24mi	4/2.0 (+1)	1,824 (-9%)	3mo	$1,248,000	$684	57
1536 78th St	0.30mi	4/3.0 (+1)	1,800 (-10%)	3mo	$1,450,000	$806	56
242 Bay 22rd St	0.70mi	3/2.0	1,980 (-1%)	5mo	$988,000	$499	52
7507 New Utrecht Ave	0.36mi	4/2.0 (+1)	2,240 (+12%)	5mo	$1,200,000	$536	44
127 Bay 23rd St	0.59mi	4/3.0 (+1)	1,770 (-12%)	3mo	$1,160,000	$655	40
143 Bay 7th St	0.55mi	4/2.0 (+1)	1,804 (-10%)	5mo	$1,150,000	$637	39
306 Bay 20th St	0.75mi	3/2.0	1,824 (-9%)	4mo	$990,000	$543	37
1339 86th St	0.52mi	4/2.5 (+1)	1,710 (-14%)	5mo	$968,000	$566	34

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 · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -30.2%
• Equity multiple: -0.02×
• Total profit: $-471,778
• Equity at exit: $247,362

10-year hold

• IRR: -24.0%
• Equity multiple: -0.30×
• Total profit: $-604,114
• Equity at exit: $143,440

Cash invested: $464,520 (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 11214

• Rents YoY: 5.9%
• Active inventory: 334
• Price-to-rent: 53.4×

Monthly cashflow live

• Estimated rent: $7,772 medium
• Mortgage (P&I): −$8,700
• Tax from tax record: −$282 /mo · $3,386/yr
• Insurance: −$691
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,632
• Net cashflow: $-3,534

Break-even live

Break-even rent $12,245

Max offer price $1,034,789

Occupancy floor —

Sensitivity live

Price	-10% $-2,594	-5% $-3,064	+0% $-3,534	+5% $-5,898	+10% $-6,472
Rent	-10% $-4,148	-5% $-3,841	+0% $-3,534	+5% $-3,227	+10% $-2,920
Rate	-1.0pp $-2,698	-0.5pp $-3,112	base $-3,534	+0.5pp $-3,963	+1.0pp $-4,401

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

Units	Beds	Baths	Est. rent
▸ 3× units	1.0	1.5	$7,773
Total (3 units)			$7,772

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: $414,750
• Closing costs: $49,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	20d	1	1.00mi

Listing history 13 events

1. 2026-06-21
   days on market $1,659,000 Active 66 DOM
2. 2026-06-18
   days on market $1,659,000 Active 63 DOM
3. 2026-06-17
   days on market $1,659,000 Active 62 DOM
4. 2026-06-15
   days on market $1,659,000 Active 61 DOM
5. 2026-06-13
   days on market $1,659,000 Active 59 DOM
6. 2026-06-10
   days on market $1,659,000 Active 55 DOM
7. 2026-06-08
   days on market $1,659,000 Active 54 DOM
8. 2026-06-08
   days on market $1,659,000 Active 53 DOM
9. 2026-06-04
   days on market $1,659,000 Active 50 DOM
10. 2026-06-03
    days on market $1,659,000 Active 49 DOM
11. 2026-06-01
    days on market $1,659,000 Active 47 DOM
12. 2026-05-31
    days on market $1,659,000 Active 46 DOM
13. 2026-04-15
    listed $1,659,000 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: $3,386 · $282/mo
• Projected year-2 tax: $15,712 · $1,309/mo
• Expected delta: +$12,326/yr (+$1,027/mo · 364.0%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $93,264
• − Mortgage interest: −$92,930
• − Property taxes: −$3,386
• − Insurance: −$8,295
• − Repairs & maintenance: −$7,461
• − Management: −$7,461
• − Depreciation: −$48,262
• Taxable loss: −$74,531
• Est. tax savings @ 24.0%: +$17,887
• After-tax cash flow: $-24,515/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

1 event — show timeline

• 2026-04-15 Listed $1,659,000 BNYMLS

Property tax history

+4.6%/yr

Latest (2025): $3,386 · -0.4% YoY. Source: county tax records.