67 Canton Ct · New York, NY 11229

$750,000

4 bd · 2.4 ba · 1,964 sqft · MultiFamily public records · 95 Days on market

Built 1920 3,600 sqft lot Est $791k · 5% under ↓ 12% 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 +13.6/30.0
• ARV discount +9.9/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• 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: 2 units. confirmed

Listing remarks

Two-Family Home in Gerritsen Beach! Charming two-family home featuring a spacious owner's duplex with a sunken living room and fireplace feature, formal dining room, and a cozy den or library. The main bedroom offers a beautiful loft area, creating an open, airy retreat with plenty of space and a walk-in closet. The top-floor apartment includes a comfortable 1-bedroom, 1-bath layout, perfect for rental income or extended family. Enjoy a large private yard, ideal for gatherings and outdoor fun. Located in the peaceful Gerritsen Beach community, this home offers great potential and room to make it your own!

Key facts

• Fireplace feature
• Cozy den
• Owner's duplex

Tags

• TWO FAMILY HOME
• OWNER'S DUPLEX
• SUNKEN LIVING ROOM
• FIREPLACE FEATURE
• FORMAL DINING ROOM
• COZY DEN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $-29 ($-348/yr) — negative. Per door: $-15/mo.
• To cash-flow at today's rent, offer at most $745k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $618k (17.5% below list).
• Recommended offer: $618k (17.5% 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.
• 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 278 Marine Park (math 47% / reading 67%, grade B, #192 of 729 statewide, top 28%, 1,076 students, 71% 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 (+15.8%/yr); 359 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,185/mo this rent would consume 105% of the median local household income ($71k/yr) (locally 4771% 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 $5k of loan paydown is wiped out by about $22k 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 95 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 77% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $618,500 (17.5% 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 95 days. Have you received any prior offers? Is the seller open to a 18% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.82% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $791,492
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Canton Ct	0.00mi	4/2.5	1,964 (0%)	0mo	$745,000	$379	99
9 Cyrus Ave	0.20mi	4/2.0	1,800 (-8%)	5mo	$725,000	$403	71
103 Aster Ct	0.59mi	4/2.5	1,980 (+1%)	3mo	$750,000	$379	68
18 Ira Ct	0.31mi	4/2.0	1,750 (-11%)	13mo	$730,000	$417	55
2722 Batchelder St	0.74mi	4/2.5	2,160 (+10%)	20mo	$1,030,000	$477	31
2733 Batchelder St	0.71mi	4/3.5	2,160 (+10%)	18mo	$975,000	$451	31
2827 Batchelder St	0.74mi	3/2.0 (-1)	2,240 (+14%)	12mo	$890,000	$397	25

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.57×
• Total profit: $-90,765
• Equity at exit: $111,827

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $67,063
• Equity at exit: $64,846

Cash invested: $210,000 (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 11229

• Rents YoY: 15.8%
• Active inventory: 359
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $6,185 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$603 /mo · $7,237/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,299
• Net cashflow: $-29

Break-even live

Break-even rent $6,222

Max offer price $744,875

Occupancy floor 95%

Sensitivity live

Price	-10% $396	-5% $183	+0% $-29	+5% $-241	+10% $-454
Rent	-10% $-518	-5% $-273	+0% $-29	+5% $215	+10% $460
Rate	-1.0pp $349	-0.5pp $162	base $-29	+0.5pp $-223	+1.0pp $-421

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$6,186
Total (2 units)			$6,185

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84 Gotham Ave Brooklyn, NY	3.0	2.0	1516	$5,000	$3.30	26d	1	0.18mi
2731 E 65th St Unit 1 Brooklyn, NY	3.0	2.0	1300	$3,400	$2.62	26d	1	1.30mi
2002 E 29th St Unit 2F Brooklyn, NY	4.0	1.5	1500	$3,600	$2.40	26d	1	1.42mi

Listing history 4 events

1. 2026-01-12
   status Pending
2. 2025-12-20
   price $750,000
3. 2025-11-12
   price $799,999
4. 2025-10-08
   listed $850,000 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: $7,237 · $603/mo
• Projected year-2 tax: $9,956 · $830/mo
• Expected delta: +$2,719/yr (+$227/mo · 37.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $74,220
• − Mortgage interest: −$42,012
• − Property taxes: −$7,237
• − Insurance: −$4,548
• − Repairs & maintenance: −$5,938
• − Management: −$5,938
• − Depreciation: −$21,818
• Taxable loss: −$13,270
• Est. tax savings @ 24.0%: +$3,185
• After-tax cash flow: $2,837/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

-11.8% since first listed

4 events — show timeline

• 2026-01-12 Pending — SIBORMLS
• 2025-12-20 Price Changed $750,000 SIBORMLS
• 2025-11-12 Price Changed $799,999 SIBORMLS
• 2025-10-08 Listed $850,000 SIBORMLS

Property tax history

+5.1%/yr

Latest (2025): $7,237 · +3.4% YoY. Source: county tax records.