858 Hart St · New York, NY 11237

$1,890,000

12 bd · 6.0 ba · 5,250 sqft · MultiFamily public records · 28 Days on market

Built 1931 2,500 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 +25.5/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Excellent investment opportunity in the heart of Bushwick! Well-maintained 6-family residential building located at 858 Hart St, Brooklyn, NY 11237. The property features 3 recently renovated apartments with updated kitchens, bathrooms, flooring, and finishes. Strong rental income potential with convenient access to the DeKalb L train and Knickerbocker M train, supporting high tenant demand in the area. Close to shopping, restaurants, parks, and local amenities. Ideal opportunity for investors seeking a stable asset in one of Brooklyn’s most active rental markets.

Key facts

• Updated finishes
• Updated bathrooms
• Updated flooring

Tags

• 6-FAMILY RESIDENTIAL BUILDING
• RECENTLY RENOVATED APARTMENTS
• UPDATED KITCHENS
• UPDATED BATHROOMS
• UPDATED FLOORING
• UPDATED FINISHES

Property features AI

Finance

• Other: Property type: Residential; Lot number: 21; Total building area reported as 5,250
• Financial info: Building contains 6 units; Current rents reported by unit: $3,200; $2,500; $2,175; $1,022; $1,455; $1,483; Financing options noted: bank mortgage or cash

Exterior

• Parking: Street parking
• Utilities: Electric: 110V; Hot water: gas; Heating fuel: gas; Heat delivery: hot water
• Home design: Residential multi-unit building; Flat roof; Building footprint approximately 1,750 (70.00 x 25.00); Three stories (units reported on floors 1–3)
• Construction: Block foundation; Block and brick construction; Brick exterior
• Exterior features: Back yard; Attached building; Zoning: R6

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Six 2-bedroom units (units on floors 1–3)
• Flooring: Hardwood floors
• Bathrooms: Six full bathrooms (one per unit)
• Heating & cooling: Hot water heat; Gas heating; No central AC units listed
• Interior features: Refrigerator; Stove; Hardwood floors; Unfinished basement
• Laundry & utility: Utility expense listed (approx. $3,000)

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.89M.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $719/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.89M).
• Recommended offer: $1.86M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+4.8%/yr); 56 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $20,313/mo this rent would consume 286% of the median local household income ($85k/yr) (locally 4577% 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 $202k of equity ($13k loan paydown + $189k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $529k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$325k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($1.86M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.20M; list at $1.89M implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 40% 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 $1,861,650 (1.5% below list)

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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 4.78% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 3.53×
• Total profit: $1,340,641
• Equity at exit: $1,702,662

10-year hold

• IRR: 28.3%
• Equity multiple: 8.20×
• Total profit: $3,811,632
• Equity at exit: $3,671,854

Cash invested: $529,200 (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 11237

• Home prices YoY: 3.1%
• Rents YoY: 4.8%
• Active inventory: 56
• Price-to-rent: 46.5×

Monthly cashflow live

• Estimated rent: $20,313 high
• Mortgage (P&I): −$9,911
• Tax from tax record: −$968 /mo · $11,611/yr
• Insurance: −$788
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,266
• Net cashflow: $4,314

Break-even live

Break-even rent $14,852

Max offer price $1,890,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$20,310
Total (6 units)			$20,313

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: $472,500
• Closing costs: $56,700
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,890,000 Active 28 DOM
2. 2026-06-17
   days on market $1,890,000 Active 27 DOM
3. 2026-06-16
   days on market $1,890,000 Active 26 DOM
4. 2026-06-15
   days on market $1,890,000 Active 25 DOM
5. 2026-06-13
   days on market $1,890,000 Active 23 DOM
6. 2026-06-10
   days on market $1,890,000 Active 19 DOM
7. 2026-06-08
   days on market $1,890,000 Active 18 DOM
8. 2026-06-08
   days on market $1,890,000 Active 17 DOM
9. 2026-06-04
   days on market $1,890,000 Active 14 DOM
10. 2026-06-03
    days on market $1,890,000 Active 13 DOM
11. 2026-06-02
    days on market $1,890,000 Active 12 DOM
12. 2026-06-01
    days on market $1,890,000 Active 11 DOM
13. 2026-05-31
    days on market $1,890,000 Active 10 DOM
14. 2026-05-21
    listed $1,890,000 Active
15. 2015-03-24
    soldstatus $1,199,000
16. 2005-06-02
    soldstatus $665,000

ⓘ 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: $11,611 · $968/mo
• Projected year-2 tax: $21,776 · $1,815/mo
• Expected delta: +$10,165/yr (+$847/mo · 87.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% 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: $243,756
• − Mortgage interest: −$105,869
• − Property taxes: −$11,611
• − Insurance: −$10,248
• − Repairs & maintenance: −$19,500
• − Management: −$19,500
• − Depreciation: −$54,982
• Taxable income: $22,045
• Est. tax owed @ 24.0%: −$5,291
• After-tax cash flow: $46,481/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): 45,334
• Household income: $85,196
• Rent vs Own: 87.8% rent · 12.2% own
• Severe rent burden: 4577.0

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: Hispanic / Latino 52% White 26% Two or more races 17% Black 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 15% Cuban 1% Dominican 9%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 48% English-only · Spanish 41% Chinese 3% Other Indo-European 2%

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: ▲ 14.38%
• Current HPI: 481.1869
• Rent YoY: ▲ 4.78%
• 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

+184.2% since first listed

3 events — show timeline

• 2026-05-21 Listed $1,890,000 BNYMLS
• 2015-03-24 Sold (Public Records) $1,199,000 Public Records
• 2005-06-02 Sold (Public Records) $665,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $11,611 · +2.2% YoY. Source: county tax records.