695 Meeker Ave #6 · New York, NY 11222

$1,150,000

12 bd · 6.0 ba · 4,536 sqft · MultiFamily public records · 31 Days on market

Built 1928 1,837 sqft lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

An exceptional investment opportunity in one of Brooklyn's most sought-after and rapidly appreciating neighborhoods. This solid 3-story, 6-unit walk-up at 695 Meeker Avenue offers immediate cash flow with significant upside. The building spans approximately 4,536 sq/ft (54x22) across six well-proportioned units, each featuring 2 bedrooms, a living room, dining room, and full bath. The dining room in each unit can be easily converted to a third bedroom, offering a clear value-add path for the next owner. With $107,000 in annual gross income, real estate taxes of only $12,776 , and a 12-bed/6-bath configuration, the numbers speak for themselves. Located steps from McGolrick Park and within ea

Key facts

• 1,837 sq ft lot
• Built 1928
• Listed 30 days

Tags

• STEPS FROM MCGOLRICK PARK
• SURROUNDED BY NEW RESTAURANTS

Property features AI

Finance

• Financial info: Pets allowed: cats and dogs
• HOA & community: Monthly association fee

Exterior

• Home design: Residential single-family current use; 3 stories
• Exterior features: Lot approximately 54 x 30

Interior

• Bedrooms: 6 full bathrooms
• Bathrooms: 6 full bathrooms
• Interior features: Full basement with storage space; Total of 42 rooms; Building contains 6 units
• Laundry & utility: No building laundry

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $13k ($160k/yr) — positive. Per door: $3k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $1.15M).
• Recommended offer: $1.12M (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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.
• Market conditions: Rents rising (+1.0%/yr); 105 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $25,682/mo this rent would consume 245% of the median local household income ($126k/yr) (locally 3139% 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 $123k of equity ($8k loan paydown + $115k 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 + 1.0% rent growth), your $322k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$198k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $280k; list at $1.15M implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,115,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
10. 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.
11. 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: 2.23% ✓
• Cap rate: 20.28%
• Cash-on-cash: 49.96%
• DSCR: 3.22
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 61.9%
• Equity multiple: 5.43×
• Total profit: $1,425,493
• Equity at exit: $1,036,011

10-year hold

• IRR: 54.7%
• Equity multiple: 11.67×
• Total profit: $3,435,495
• Equity at exit: $2,234,197

Cash invested: $322,000 (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 11222

• Home prices YoY: 2.9%
• Rents YoY: 1.0%
• Active inventory: 105
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $25,682 high
• Mortgage (P&I): −$6,031
• Tax from tax record: −$373 /mo · $4,480/yr
• Insurance: −$479
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,393
• Net cashflow: $13,339

Break-even live

Break-even rent $8,797

Max offer price $1,150,000

Occupancy floor 43%

Sensitivity live

Price	-10% $13,990	-5% $13,665	+0% $13,339	+5% $13,014	+10% $12,688
Rent	-10% $11,310	-5% $12,325	+0% $13,339	+5% $14,354	+10% $15,368
Rate	-1.0pp $13,918	-0.5pp $13,632	base $13,339	+0.5pp $13,041	+1.0pp $12,738

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$25,684
Total (4 units)			$25,682

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,150,000 Active 31 DOM
2. 2026-06-18
   days on market $1,150,000 Active 28 DOM
3. 2026-06-17
   days on market $1,150,000 Active 27 DOM
4. 2026-06-16
   days on market $1,150,000 Active 26 DOM
5. 2026-06-15
   days on market $1,150,000 Active 25 DOM
6. 2026-06-13
   days on market $1,150,000 Active 23 DOM
7. 2026-06-10
   days on market $1,150,000 Active 19 DOM
8. 2026-06-08
   days on market $1,150,000 Active 18 DOM
9. 2026-06-08
   days on market $1,150,000 Active 17 DOM
10. 2026-06-04
    days on market $1,150,000 Active 14 DOM
11. 2026-06-03
    days on market $1,150,000 Active 13 DOM
12. 2026-06-02
    days on market $1,150,000 Active 12 DOM
13. 2026-06-01
    days on market $1,150,000 Active 11 DOM
14. 2026-05-31
    days on market $1,150,000 Active 10 DOM
15. 2026-05-21
    listed $1,150,000 Active
16. 1989-08-22
    soldstatus $280,000

ⓘ 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: $4,480 · $373/mo
• Projected year-2 tax: $11,958 · $996/mo
• Expected delta: +$7,477/yr (+$623/mo · 166.9%)

ⓘ 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) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $308,184
• − Mortgage interest: −$64,418
• − Property taxes: −$4,480
• − Insurance: −$6,548
• − Repairs & maintenance: −$24,655
• − Management: −$24,655
• − Depreciation: −$33,455
• Taxable income: $149,975
• Est. tax owed @ 24.0%: −$35,994
• After-tax cash flow: $124,075/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): 42,853
• Household income: $125,734
• Rent vs Own: 81.9% rent · 18.1% own
• Severe rent burden: 3139.0

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 White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 15% Slovak 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Russian/Polish/Slavic 12% Spanish 10% Other Indo-European 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: ▲ 22.48%
• Current HPI: 787.4068
• Rent YoY: ▲ 1.02%
• 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

+310.7% since first listed

2 events — show timeline

• 2026-05-21 Listed $1,150,000 RLS at REBNY
• 1989-08-22 Sold (Public Records) $280,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $4,480 · -62.3% YoY. Source: county tax records.