429 Hancock St · New York, NY 11216

$2,500,000

4 bd · 3.0 ba · 3,192 sqft · MultiFamily public records · 84 Days on market

Built 1899 1,900 sqft lot

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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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

All showings and open houses are by appointment. Please contact to schedule. Four bedrooms, three full bathrooms, and income potential come together in a way that feels both elevated and effortless at 429 Hancock Street. Set on one of Bedford Stuyvesant's most coveted tree lined blocks, this 19 foot wide Queen Anne brownstone from 1889 blends timeless craftsmanship with a distinctly modern sensibility, all just moments from some of Brooklyn's most celebrated restaurants, cafes, and neighborhood favorites. Inside, the home tells a story that is impossible to replicate. Seven original decorative mantels anchor each room with quiet elegance, while intricate wainscoting, fretwork, lace plas

Key facts

• Fretwork
• Pocket doors
• 1,900 sq ft lot

Tags

• QUEEN ANNE BROWNSTONE
• ORIGINAL DECORATIVE MANTELS
• INTRICATE WAINSCOTING
• FRETWORK
• LACE PLASTER CEILINGS
• POCKET DOORS

Property features AI

Finance

• Other: Two-unit property
• Financial info: Annual tax amount listed (amount excluded by instructions)

Exterior

• Utilities: Lot dimensions approximately 100 x 19
• Home design: 3 stories; Entry level: 1
• Construction: Green building
• Exterior features: Private outdoor space over 60 sqft

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: 3 full bathrooms
• Interior features: Smoke-free interior; Basement (other)
• Laundry & utility: Washer hookup available; In-unit laundry allowed

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $2.50M.

Deal economics

• At list price, monthly cash flow is $-3k ($-38k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.95M (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.47M (41.3% below list).
• Recommended offer: $1.47M (41.3% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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 (+7.7%/yr); 120 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,679/mo this rent would consume 174% of the median local household income ($101k/yr) (locally 4473% 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 $267k of equity ($17k loan paydown + $250k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$430k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($2.35M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $250k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2.12M; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1899 — 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,467,900 (41.3% 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 84 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.59% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.25%
• DSCR: 0.77
• GRM: 14.2

CMA / ARV

• ARV (on-the-fly): $1,548,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
246 Hancock St	0.39mi	4/4.0	3,300 (+3%)	5mo	$1,600,000	$485	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.76×
• Total profit: $1,233,946
• Equity at exit: $2,252,198

10-year hold

• IRR: 20.4%
• Equity multiple: 6.67×
• Total profit: $3,966,782
• Equity at exit: $4,856,950

Cash invested: $700,000 (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 11216

• Home prices YoY: 3.4%
• Rents YoY: 7.7%
• Active inventory: 120
• Price-to-rent: 56.8×

Monthly cashflow live

• Estimated rent: $14,679 high
• Mortgage (P&I): −$13,110
• Tax from tax record: −$507 /mo · $6,087/yr
• Insurance: −$1,042
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,083
• Net cashflow: $-3,129

Break-even live

Break-even rent $18,640

Max offer price $1,947,208

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$14,680
Total (4 units)			$14,679

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: $625,000
• Closing costs: $75,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $2,500,000 Active 84 DOM
2. 2026-06-17
   days on market $2,500,000 Active 83 DOM
3. 2026-06-15
   days on market $2,500,000 Active 81 DOM
4. 2026-06-13
   days on market $2,500,000 Active 79 DOM
5. 2026-06-10
   days on market $2,500,000 Active 75 DOM
6. 2026-06-08
   days on market $2,500,000 Active 74 DOM
7. 2026-06-08
   days on market $2,500,000 Active 73 DOM
8. 2026-06-04
   days on market $2,500,000 Active 70 DOM
9. 2026-06-03
   days on market $2,500,000 Active 69 DOM
10. 2026-06-01
    days on market $2,500,000 Active 67 DOM
11. 2026-05-31
    days on market $2,500,000 Active 66 DOM
12. 2026-05-20
    price $2,500,000
13. 2026-03-26
    listed $2,750,000 Active
14. 2015-11-30
    soldstatus $2,123,000
15. 2015-08-13
    listed $2,123,000
16. 2015-08-13
    listed $2,123,000
17. 2005-03-16
    soldstatus $690,000
18. 2000-11-02
    soldstatus $300,000
19. 1988-04-20
    soldstatus $180,000
20. 1984-08-01
    soldstatus $55,000

ⓘ 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: $6,087 · $507/mo
• Projected year-2 tax: $24,168 · $2,014/mo
• Expected delta: +$18,082/yr (+$1,507/mo · 297.1%)

ⓘ 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) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 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: $176,148
• − Mortgage interest: −$140,039
• − Property taxes: −$6,087
• − Insurance: −$13,298
• − Repairs & maintenance: −$14,092
• − Management: −$14,092
• − Depreciation: −$72,727
• Taxable loss: −$84,186
• Est. tax savings @ 24.0%: +$20,205
• After-tax cash flow: $-17,346/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): 60,685
• Household income: $101,277
• Rent vs Own: 78.7% rent · 21.3% own
• Severe rent burden: 4473.0

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 0.69)
• Race & ethnicity: Black 46% White 29% Hispanic / Latino 12% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 22% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 8% French/Haitian/Cajun 3% Other Indo-European 2%

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: ▲ 27.76%
• Current HPI: 849.9392
• Rent YoY: ▲ 7.72%
• 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

+4445.5% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $2,500,000 RLS at REBNY
• 2026-03-26 Listed $2,750,000 RLS at REBNY
• 2015-11-30 Sold (Public Records) $2,123,000 Public Records
• 2015-08-13 Listed $2,123,000 RLS at REBNY
• 2015-08-13 Listed $2,123,000 RLS at REBNY
• 2005-03-16 Sold (Public Records) $690,000 Public Records
• 2000-11-02 Sold (Public Records) $300,000 Public Records
• 1988-04-20 Sold (Public Records) $180,000 Public Records
• 1984-08-01 Sold (Public Records) $55,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,087 · -1.7% YoY. Source: county tax records.