375 61 St · New York, NY 11220

$3,750,000

None bd · None ba · 14,400 sqft · MultiFamily · 36 Days on market

Average condition 3,600 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 +21.5/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Prime location investment property featuring 17 residential units and 2 stores. The seller is ready to consider all serious offers.

Key facts

• 3,600 sq ft lot
• Listed 36 days

Property features AI

Finance

• Financial info: Rent income reported; Financing considered: exchange, bank mortgage, or cash

Exterior

• Parking: Shared driveway
• Utilities: 220V electric service; Electric hot water; Gas for heating; Annual utility expense reported
• Home design: Mixed-use property; Semi-detached building; Flat roof; Faces unspecified
• Construction: Brick exterior; Block foundation
• Exterior features: Shared driveway

Interior

• Flooring: Hardwood floors
• Heating & cooling: Gas heating; Baseboard heat; Steam/radiator heat; Electric hot water (220V)
• Interior features: Hardwood floors; Full unfinished cellar

What this means for you Summary

Snapshot

• This is a multifamily listed at $3.75M. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($40k rent vs $3.75M).
• Recommended offer: $3.64M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $39,930/mo this rent would consume 686% of the median local household income ($70k/yr) (locally 6563% 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 $237k of equity ($26k loan paydown + $211k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $1.05M cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$380k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($3.64M) is reasonable based on typical stale-listing flexibility.

Recommended offer $3,637,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.50×
• Total profit: $1,571,648
• Equity at exit: $2,271,002

10-year hold

• IRR: 23.7%
• Equity multiple: 5.66×
• Total profit: $4,890,144
• Equity at exit: $4,045,768

Cash invested: $1,050,000 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 133.0×

Monthly cashflow live

• Estimated rent: $39,930 medium
• Mortgage (P&I): −$19,665
• Tax est. 1.5%: −$4,688 /mo · $56,250/yr
• Insurance: −$1,562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,385
• Net cashflow: $5,629

Break-even live

Break-even rent $32,804

Max offer price $3,750,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 17× units	1	1	$39,933
Total (17 units)			$39,930

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: $937,500
• Closing costs: $112,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $3,750,000 Active 36 DOM
2. 2026-06-17
   days on market $3,750,000 Active 35 DOM
3. 2026-06-16
   days on market $3,750,000 Active 34 DOM
4. 2026-06-15
   days on market $3,750,000 Active 33 DOM
5. 2026-06-13
   days on market $3,750,000 Active 31 DOM
6. 2026-06-10
   days on market $3,750,000 Active 27 DOM
7. 2026-06-08
   days on market $3,750,000 Active 26 DOM
8. 2026-06-08
   days on market $3,750,000 Active 25 DOM
9. 2026-06-04
   days on market $3,750,000 Active 22 DOM
10. 2026-06-03
    days on market $3,750,000 Active 21 DOM
11. 2026-06-02
    days on market $3,750,000 Active 20 DOM
12. 2026-06-01
    days on market $3,750,000 Active 19 DOM
13. 2026-05-31
    days on market $3,750,000 Active 18 DOM
14. 2026-05-13
    listed $3,750,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $479,160
• − Mortgage interest: −$210,058
• − Property taxes: −$56,250
• − Insurance: −$18,750
• − Repairs & maintenance: −$38,333
• − Management: −$38,333
• − Depreciation: −$109,091
• Taxable income: $8,345
• Est. tax owed @ 24.0%: −$2,003
• After-tax cash flow: $65,549/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.

Condition & rehab AI · 9 photos

Average 55/100 Moderate rehab

A moderate rehab opportunity with average exterior and roof conditions. Exterior paint and roof inspection are recommended to enhance value and ensure structural integrity.

Repairs flagged

• Minor exterior paint — Some discoloration on brick facade
• Moderate roof inspection — Roof may need inspection for any issues

Value-add opportunities

• Both exterior paint — Enhances curb appeal and property value
• Both roof inspection and repair — Ensures structural integrity and prevents future issues

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Some discoloration on brick facade	Minor	$500–3,000
roof inspection · Roof may need inspection for any issues	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both exterior paint — Enhances curb appeal and property value ↑
• Both roof inspection and repair — Ensures structural integrity and prevents future issues ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

• 2026-05-13 Listed $3,750,000 BNYMLS