249 Herzl St · New York, NY 11212

$1,200,000

None bd · None ba · 3,300 sqft · MultiFamily public records · 116 Days on market

Built 1930 2,450 sqft lot Est $914k · 31% over

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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 +14.6/30.0
• Schools +5.0/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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 MLS

BANKOWNED PROPERTY, BEING SOLD IN `AS IS` CONDITION. BUYER TO PAY ALL NYS and NYC TRANSFER TAXES.

Key facts

• One 1-bedroom units
• 2,450 sq ft lot
• Built 1930

Tags

• SPACIOUS SEVEN 2-BEDROOMS
• ONE 1-BEDROOM UNITS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Public trash collection
• Home design: Triplex
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront; No additional parcels

Interior

• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: High ceilings; Finished full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive. Per door: $98/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $927k (22.7% below list).
• Recommended offer: $927k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 soft (-0.6%/yr); 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,271/mo this rent would consume 269% of the median local household income ($41k/yr) (locally 9035% 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 $8k of loan paydown is wiped out by about $36k 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 116 days — a 9% lower offer ($1.09M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $295k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; list at $1.20M implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 66% 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 $927,100 (22.7% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $914,100
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
432 Amboy St	0.31mi	6/3.0	3,198 (-3%)	9mo	$950,000	$297	73
309 Rockaway Pkwy	0.36mi	7/4.0	3,198 (-3%)	8mo	$1,125,000	$352	71
2304 Strauss St	0.45mi	7/4.0	3,198 (-3%)	4mo	$1,081,500	$338	71
400 Rockaway Pkwy	0.44mi	1/1.0	3,198 (-3%)	4mo	$999,000	$312	71
348 E 92nd St	0.65mi	7/3.0	3,275 (-1%)	6mo	$900,000	$275	64
1936 Prospect Pl	0.57mi	11/3.0	3,450 (+4%)	5mo	$850,000	$246	61
432 E 98th St #4	0.43mi	8/4.0	3,198 (-3%)	18mo	$657,500	$206	60
252 E 91 St	0.71mi	6/3.5	3,360 (+2%)	17mo	$930,000	$277	49
2268 Strauss St	0.39mi	7/4.0	2,920 (-12%)	21mo	$777,000	$266	45
34 E 95th St #4	0.69mi	—/—	3,735 (+13%)	5mo	$800,000	$214	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.39×
• Total profit: $-203,522
• Equity at exit: $178,924

10-year hold

• IRR: -15.6%
• Equity multiple: 0.22×
• Total profit: $-260,683
• Equity at exit: $103,754

Cash invested: $336,000 (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 11212

• Home prices YoY: -34.3%
• Rents YoY: -0.6%
• Active inventory: 66
• Price-to-rent: 32.4×

Monthly cashflow live

• Estimated rent: $9,271 medium
• Mortgage (P&I): −$6,293
• Tax from tax record: −$237 /mo · $2,844/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,947
• Net cashflow: $294

Break-even live

Break-even rent $8,899

Max offer price $1,200,000

Occupancy floor 92%

Sensitivity live

Price	-10% $973	-5% $634	+0% $294	+5% $-45	+10% $-385
Rent	-10% $-438	-5% $-72	+0% $294	+5% $660	+10% $1,027
Rate	-1.0pp $898	-0.5pp $599	base $294	+0.5pp $-17	+1.0pp $-333

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$9,270
Total (3 units)			$9,271

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1135 Eastern Pkwy Brooklyn, NY	2.0	1.0	4412	$2,997	$0.68	26d	1	0.94mi

Listing history 22 events

1. 2026-06-21
   days on market $1,200,000 Active 116 DOM
2. 2026-06-18
   days on market $1,200,000 Active 113 DOM
3. 2026-06-17
   days on market $1,200,000 Active 112 DOM
4. 2026-06-15
   days on market $1,200,000 Active 110 DOM
5. 2026-06-13
   days on market $1,200,000 Active 108 DOM
6. 2026-06-10
   days on market $1,200,000 Active 104 DOM
7. 2026-06-08
   days on market $1,200,000 Active 103 DOM
8. 2026-06-08
   days on market $1,200,000 Active 102 DOM
9. 2026-06-04
   days on market $1,200,000 Active 99 DOM
10. 2026-06-03
    days on market $1,200,000 Active 98 DOM
11. 2026-06-01
    days on market $1,200,000 Active 96 DOM
12. 2026-05-31
    days on market $1,200,000 Active 95 DOM
13. 2026-03-12
    price $1,200,000
14. 2026-02-24
    listed $1,495,000 Active
15. 2015-02-13
    soldstatus $240,000
16. 2004-10-26
    soldstatus $304,200
17. 2004-10-26
    soldstatus $315,000
18. 2004-07-08
    listed $339,900 97-char remark

    Show marketing remark (97 chars)

    BANKOWNED PROPERTY, BEING SOLD IN `AS IS` CONDITION. BUYER TO PAY ALL NYS and NYC TRANSFER TAXES.

19. 2000-05-03
    soldstatus $250,000
20. 1987-05-13
    soldstatus $78,000
21. 1987-01-23
    soldstatus $75,000
22. 1986-05-28
    soldstatus $37,000

ⓘ 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: $2,844 · $237/mo
• Projected year-2 tax: $11,562 · $963/mo
• Expected delta: +$8,718/yr (+$727/mo · 306.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $111,252
• − Mortgage interest: −$67,219
• − Property taxes: −$2,844
• − Insurance: −$6,000
• − Repairs & maintenance: −$8,900
• − Management: −$8,900
• − Depreciation: −$34,909
• Taxable loss: −$17,520
• Est. tax savings @ 24.0%: +$4,205
• After-tax cash flow: $7,735/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): 89,020
• Household income: $41,355
• Rent vs Own: 86.8% rent · 13.2% own
• Severe rent burden: 9035.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 20% Two or more races 12% White 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 3% Ukrainian 1%
• Foreign-born: 34% · Canada, Mexico, China
• Languages at home: 77% English-only · Spanish 14% French/Haitian/Cajun 4% Arabic 1%

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: ▼ -140.90%
• Current HPI: 269.7955
• Rent YoY: ▼ -0.59%
• 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

+3143.2% since first listed

10 events — show timeline

• 2026-03-12 Price Changed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Listed $1,495,000 OneKey® MLS as Distributed by MLS Grid
• 2015-02-13 Sold (Public Records) $240,000 Public Records
• 2004-10-26 Sold (Public Records) $315,000 Public Records
• 2004-10-26 Sold (Public Records) $304,200 Public Records
• 2004-07-08 Listed $339,900 BNYMLS
• 2000-05-03 Sold (Public Records) $250,000 Public Records
• 1987-05-13 Sold (Public Records) $78,000 Public Records
• 1987-01-23 Sold (Public Records) $75,000 Public Records
• 1986-05-28 Sold (Public Records) $37,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,844 · -1.4% YoY. Source: county tax records.