2118 W 7th St · New York, NY 11223

$988,888

4 bd · 3.0 ba · 1,280 sqft · MultiFamily public records · 24 Days on market

Built 1930 1,438 sqft lot Est $1064k · 7% under

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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 +13.4/30.0
• ARV discount +10.7/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• 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 MLS

Amazing opportunity to buy this two-family located near trains, buses, and shopping. Currently used as a one-family, 2 bedrooms in each unit, 2 and half bathrooms, and off-street parking. Prime Gravesend location!

Key facts

• Off-street parking
• Gravesend location
• 1,438 sq ft lot

Tags

• OFF-STREET PARKING
• GRAVESEND LOCATION

Property features AI

Finance

• Financial info: Multifamily property with 2 total units

Exterior

• Parking: No attached garage
• Utilities: 220 volt electric service
• Home design: Two-story multi-family building; Total of 2 dwelling units
• Construction: Aluminum siding; Stucco exterior
• Exterior features: Lot approximately 0.03 acres (25 x 57.5); Zoned R5

Interior

• Bedrooms: Unit 1: 2 bedrooms (level 1); Unit 2: 2 bedrooms (level 2)
• Bathrooms: Two full bathrooms and one half bathroom (total 3)
• Heating & cooling: Natural gas heating; Hot water heating; Cooling present (window or wall units indicated as 'Units')
• Interior features: Finished basement; Air conditioning (window or wall units indicated as 'Units')

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $989k.

Deal economics

• At list price, monthly cash flow is $21 ($257/yr) — positive. Per door: $11/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 $775k (21.6% below list).
• Recommended offer: $775k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 95 Gravesend (The) (math 64% / reading 68%, grade B+, #580 of 2,108 statewide, top 28%, 940 students, 72% FRL); Is 228 David A Boody (math 56% / reading 67%, grade B+, #147 of 729 statewide, top 20%, 1,551 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 (+13.1%/yr); 219 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $7,753/mo this rent would consume 147% of the median local household income ($63k/yr) (locally 6011% 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 $7k of loan paydown is wiped out by about $30k 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 24 days — a 2% lower offer ($974k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $85k; list at $989k implies a 1063% 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 wind risk, 68% 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 $775,300 (21.6% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.78% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $1,063,680
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2030 W 8th St	0.15mi	4/3.0	1,280 (0%)	1mo	$990,000	$773	92
2123 W 9th St	0.07mi	3/— (-1)	1,200 (-6%)	6mo	$728,000	$607	76
450 Lake St	0.28mi	3/2.0 (-1)	1,292 (+1%)	11mo	$1,110,000	$859	67
2032 W 4th St	0.19mi	4/3.0	1,440 (+12%)	6mo	$1,196,000	$831	66
1932 W 9th St	0.32mi	3/4.5 (-1)	1,198 (-6%)	2mo	$1,015,000	$847	62
2040 W 7th St	0.12mi	3/3.0 (-1)	1,088 (-15%)	4mo	$860,000	$790	61
26 Bay 41 St	0.42mi	4/3.5	1,428 (+12%)	1mo	$1,200,000	$840	58

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: -11.3%
• Equity multiple: 0.57×
• Total profit: $-118,239
• Equity at exit: $147,446

10-year hold

• IRR: 3.5%
• Equity multiple: 1.30×
• Total profit: $83,929
• Equity at exit: $85,501

Cash invested: $276,889 (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 11223

• Rents YoY: 13.1%
• Active inventory: 219
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $7,753 medium
• Mortgage (P&I): −$5,186
• Tax from tax record: −$506 /mo · $6,067/yr
• Insurance: −$412
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,628
• Net cashflow: $21

Break-even live

Break-even rent $7,726

Max offer price $988,888

Occupancy floor 95%

Sensitivity live

Price	-10% $581	-5% $301	+0% $21	+5% $-259	+10% $-538
Rent	-10% $-591	-5% $-285	+0% $21	+5% $328	+10% $634
Rate	-1.0pp $519	-0.5pp $273	base $21	+0.5pp $-235	+1.0pp $-496

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.8	$7,752
Total (2 units)			$7,753

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: $247,222
• Closing costs: $29,667
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	17d	1	0.38mi
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	19d	1	0.68mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	26d	1	0.82mi
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	21d	1	0.94mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	26d	1	1.09mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	26d	1	1.09mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$5,725	$6.04	1d	8	1.17mi

Listing history 22 events

1. 2026-06-21
   days on market $988,888 Active 24 DOM
2. 2026-06-18
   days on marketlisting id $988,888 Active 21 DOM
3. 2026-06-18
   days on market $988,888 Active 22 DOM
4. 2026-06-17
   days on market $988,888 Active 21 DOM
5. 2026-06-16
   days on market $988,888 Active 20 DOM
6. 2026-06-15
   days on market $988,888 Active 19 DOM
7. 2026-06-13
   days on market $988,888 Active 17 DOM
8. 2026-06-10
   days on market $988,888 Active 13 DOM
9. 2026-06-08
   days on market $988,888 Active 12 DOM
10. 2026-06-08
    days on market $988,888 Active 11 DOM
11. 2026-06-04
    days on market $988,888 Active 8 DOM
12. 2026-06-03
    days on market $988,888 Active 7 DOM
13. 2026-06-02
    days on market $988,888 Active 6 DOM
14. 2026-06-01
    days on market $988,888 Active 5 DOM
15. 2026-05-31
    days on market $988,888 Active 4 DOM
16. 2026-05-28
    listed $988,888 Active 213-char remark

    Show marketing remark (213 chars)

    Amazing opportunity to buy this two-family located near trains, buses, and shopping. Currently used as a one-family, 2 bedrooms in each unit, 2 and half bathrooms, and off-street parking. Prime Gravesend location!

17. 2026-05-27
    listed $988,888 Active

    Show marketing remark (213 chars)

    Amazing opportunity to buy this two-family located near trains, buses, and shopping. Currently used as a one-family, 2 bedrooms in each unit, 2 and half bathrooms, and off-street parking. Prime Gravesend location!

18. 2026-05-27
    listed $988,888 Active 213-char remark

    Show marketing remark (213 chars)

    Amazing opportunity to buy this two-family located near trains, buses, and shopping. Currently used as a one-family, 2 bedrooms in each unit, 2 and half bathrooms, and off-street parking. Prime Gravesend location!

19. 2019-03-08
    price $999,750
20. 2019-02-13
    price $1,090,000
21. 2018-09-19
    price $1,100,000
22. 1991-11-29
    soldstatus $85,000

ⓘ 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: $6,067 · $506/mo
• Projected year-2 tax: $11,390 · $949/mo
• Expected delta: +$5,322/yr (+$444/mo · 87.7%)

ⓘ 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 7/10 Severe 7 d/yr ≥97°F today · 15 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: $93,036
• − Mortgage interest: −$55,393
• − Property taxes: −$6,067
• − Insurance: −$4,944
• − Repairs & maintenance: −$7,443
• − Management: −$7,443
• − Depreciation: −$28,768
• Taxable loss: −$17,022
• Est. tax savings @ 24.0%: +$4,085
• After-tax cash flow: $4,342/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+1063.4% since first listed

7 events — show timeline

• 2026-05-28 Listed $988,888 OneKey® MLS as Distributed by MLS Grid
• 2026-05-27 Listed $988,888 BNYMLS
• 2026-05-27 Listed $988,888 SIBORMLS
• 2019-03-08 Price Changed $999,750 BNYMLS
• 2019-02-13 Price Changed $1,090,000 BNYMLS
• 2018-09-19 Price Changed $1,100,000 BNYMLS
• 1991-11-29 Sold (Public Records) $85,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $6,067 · -0.3% YoY. Source: county tax records.