83 Suydam St Unit TWOFAMILY · New York, NY 11221

$1,345,000

4 bd · 1.0 ba · 1,605 sqft · MultiFamily public records · 80 Days on market

Built 2018 830 sqft lot Est $1411k · at est.

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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
• ARV discount +9.6/15.0
• Cash flow +5.7/30.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 83 Suydam Street — a rare opportunity to own a two-family home priced below nearby condos, offering incredible value and flexibility in one of Brooklyn’s most vibrant neighborhoods. This well-configured property features two spacious units, ideal for both end-users and investors. Live in one unit and offset your mortgage by renting the other, or maximize income potential with a full investment setup. Apartment 2 (Upper Unit) is a bright 3-bedroom layout with generous proportions, large windows, and a functional flow between living, dining, and kitchen areas. The bedrooms offer flexibility for family living, home office space, or guest accommodations. Apartment 1 (Lowe

Key facts

• Built 2018
• Listed 80 days

Property features AI

Finance

• Financial info: Pets not allowed in building
• HOA & community: Monthly association fee

Exterior

• Home design: Two-family property; 3 stories; Entry level: 1; Has a view
• Construction: Lot area: 830
• Exterior features: Balcony; Private outdoor space (under 60 sq ft); Terrace

Interior

• Kitchen: Dishwasher
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; Hardwood floors; Common on-floor laundry (see remarks)
• Laundry & utility: Washer; Dryer; Common on-floor laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/0.5-bath units multifamily listed at $1.34M.

Deal economics

• At list price, monthly cash flow is $-3k ($-33k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $862k (35.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $696k (48.3% below list).
• Recommended offer: $696k (48.3% below list) — sets the bar for 1% rule.
• Cap rate 3.9% 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 (+5.2%/yr); 211 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,956/mo this rent would consume 97% of the median local household income ($86k/yr) (locally 8053% 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 $144k of equity ($9k loan paydown + $134k 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 ~$231k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($1.26M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $695,600 (48.3% 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 80 days. Have you received any prior offers? Is the seller open to a 48% 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. 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: 0.52% ✗
• Cap rate: 3.85%
• Cash-on-cash: -8.71%
• DSCR: 0.61
• GRM: 16.1

CMA / ARV

• ARV (on-the-fly): $1,410,795
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Palmetto St	0.70mi	5/2.5 (+1)	1,592 (-1%)	24mo	$1,400,000	$879	35

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 · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.52×
• Total profit: $573,239
• Equity at exit: $1,211,683

10-year hold

• IRR: 17.6%
• Equity multiple: 5.93×
• Total profit: $1,857,944
• Equity at exit: $2,613,039

Cash invested: $376,600 (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 11221

• Home prices YoY: 3.3%
• Rents YoY: 5.2%
• Active inventory: 211
• Price-to-rent: 32.2×

Monthly cashflow live

• Estimated rent: $6,956 high
• Mortgage (P&I): −$7,053
• Tax from tax record: −$615 /mo · $7,381/yr
• Insurance: −$560
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,461
• Net cashflow: $-2,734

Break-even live

Break-even rent $10,416

Max offer price $862,102

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	0.5	$6,956
Total (2 units)			$6,956

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: $336,250
• Closing costs: $40,350
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
987 Willoughby Ave Brooklyn, NY	5.0	1.5	650	$1,380	$2.12	20d	1	0.12mi
1078 DeKalb Ave Brooklyn, NY	4.0	1.0	646	$1,140	$1.76	5d	1	0.25mi
595 Kosciuszko St Brooklyn, NY	4.0	1.0	1100	$1,190	$1.08	24d	1	0.27mi
375 Vernon Ave Brooklyn, NY	4.0	2.0	645	$1,210	$1.88	20d	1	0.31mi
1136 Willoughby Ave Brooklyn, NY	5.0	2.0	645	$1,280	$1.98	5d	1	0.42mi
951 Madison St Brooklyn, NY	5.0	1.0	650	$1,280	$1.97	5d	1	0.79mi
1066 Putnam Ave Brooklyn, NY	4.0	2.0	647	$1,110	$1.71	5d	1	0.87mi
148 Cornelia St Brooklyn, NY	4.0	1.0	652	$1,190	$1.82	20d	1	0.92mi
358 Irving Ave Brooklyn, NY	5.0	4.0	844	$1,500	$1.78	20d	1	0.92mi
1225 Hancock St Brooklyn, NY	4.0	2.0	600	$1,230	$2.05	20d	1	1.02mi
105 Weirfield St Brooklyn, NY	5.0	2.0	660	$1,190	$1.80	5d	1	1.03mi
56-54 Myrtle Ave Flushing, NY	4.0	2.0	665	$1,220	$1.83	20d	1	1.36mi
685 Myrtle Ave Brooklyn, NY	5.0	3.0	1100	$1,210	$1.10	24d	1	1.36mi
56-52 Myrtle Ave Ridgewood, NY	4.0	2.0	665	$1,310	$1.97	5d	1	1.37mi
1869 Madison St Ridgewood, NY	5.0	2.0	640	$1,120	$1.75	5d	1	1.40mi
1088 Bedford Ave Brooklyn, NY	4.0	1.0	1200	$1,190	$0.99	24d	1	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $1,345,000 Active 80 DOM
2. 2026-06-17
   days on market $1,345,000 Active 79 DOM
3. 2026-06-15
   days on market $1,345,000 Active 77 DOM
4. 2026-06-13
   days on market $1,345,000 Active 75 DOM
5. 2026-06-10
   days on market $1,345,000 Active 71 DOM
6. 2026-06-08
   days on market $1,345,000 Active 70 DOM
7. 2026-06-08
   days on market $1,345,000 Active 69 DOM
8. 2026-06-04
   days on market $1,345,000 Active 66 DOM
9. 2026-06-03
   days on market $1,345,000 Active 65 DOM
10. 2026-06-01
    days on market $1,345,000 Active 63 DOM
11. 2026-05-31
    days on market $1,345,000 Active 62 DOM
12. 2026-04-29
    price $1,345,000
13. 2026-03-30
    listed $1,395,000 Active
14. 2026-01-08
    soldstatus $6,000,000

ⓘ 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: $7,381 · $615/mo
• Projected year-2 tax: $15,056 · $1,255/mo
• Expected delta: +$7,675/yr (+$640/mo · 104.0%)

ⓘ 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 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: $83,472
• − Mortgage interest: −$75,341
• − Property taxes: −$7,381
• − Insurance: −$6,725
• − Repairs & maintenance: −$6,678
• − Management: −$6,678
• − Depreciation: −$39,127
• Taxable loss: −$58,458
• Est. tax savings @ 24.0%: +$14,030
• After-tax cash flow: $-18,773/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): 91,588
• Household income: $85,736
• Rent vs Own: 78.8% rent · 21.2% own
• Severe rent burden: 8053.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 37% Hispanic / Latino 32% White 20% Two or more races 15% Asian 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Dominican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Hispanic 1%
• Foreign-born: 27% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 24% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 18.95%
• Current HPI: 597.7817
• Rent YoY: ▲ 5.15%
• 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

-77.6% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $1,345,000 RLS at REBNY
• 2026-03-30 Listed $1,395,000 RLS at REBNY
• 2026-01-08 Sold (Public Records) $6,000,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $7,381 · +0.8% YoY. Source: county tax records.