4400 Atlantic Ave · New York, NY 11224

$969,999

4 bd · 3.0 ba · 2,556 sqft · MultiFamily public records · 28 Days on market

Built 1965 4,738 sqft lot Est $1107k · 12% under

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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 +19.8/30.0
• ARV discount +13.1/15.0
• Appreciation +7.5/10.0
• DSCR +6.3/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Rare opportunity to own a legal two-family home in Sea Gate, Brooklyn’s only private gated beachfront community with private beach access. Welcome to 4400 Atlantic Avenue, a unique property offering both comfortable living and excellent rental income potential for investors or owner-occupants seeking flexibility in a waterfront setting. The main unit features 3 spacious bedrooms and 1.5 bathrooms, a newly updated kitchen with stainless steel appliances, recessed lighting, hardwood floors, and formal living and dining rooms filled with natural light. Enjoy water views from the dining room, adding to the home’s coastal charm. The second unit offers a large one-bedroom layout with

Key facts

• Ample storage space
• Water views
• Waterfront parks

Tags

• LEGAL TWO-FAMILY HOME
• PRIVATE BEACH ACCESS
• WATER VIEWS
• TWO-CAR GARAGE
• AMPLE STORAGE SPACE
• WATERFRONT PARKS

Property features AI

Finance

• Other: Property area approximately 2556 square feet; Basement present (walk-out access); Attic: see remarks
• HOA & community: Basketball court; Dog park; Gated community amenities; Grounds maintenance; Park; On-site parking; Security; Snow removal; Trash service

Exterior

• Parking: Attached garage; 2-car garage; Garage with door opener; Oversized garage; Private driveway
• Security: Gated community; Security gate
• Utilities: Con Edison electric service; Public sewer; Cable available and connected; Natural gas connected; Phone connected; Trash collection (private); Water connected
• Home design: Duplex; Updated / remodeled condition; Walk-out basement
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Mailbox; Corner lot; Front yard; Landscaped grounds; Level parcel; Private lot; Gated community; Security gate

Interior

• Kitchen: Open kitchen; Granite counters
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating
• Interior features: First-floor bedroom; First-floor full bathroom; Entrance foyer; Formal dining room; Granite countertops; Open floor plan; Open kitchen; Master bedroom on main level; Recessed lighting; Storage; Double-pane windows
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $970k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $580/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 $931k (4.0% below list).
• Recommended offer: $931k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 (+7.0%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,308/mo this rent would consume 256% of the median local household income ($44k/yr) (locally 4426% 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 $55k of equity ($7k loan paydown + $48k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $272k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$88k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($955k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $930,800 (4.0% 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 1965 — 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. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $1,106,748
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3708 Cypress Ave	0.39mi	4/3.5	2,678 (+5%)	23mo	$1,160,000	$433	52
32 Tudor Ter	0.37mi	4/2.0	2,280 (-11%)	20mo	$650,000	$285	44

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

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 2.24×
• Total profit: $335,556
• Equity at exit: $548,625

10-year hold

• IRR: 20.8%
• Equity multiple: 4.83×
• Total profit: $1,041,452
• Equity at exit: $945,977

Cash invested: $271,600 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $9,308 high
• Mortgage (P&I): −$5,087
• Tax from tax record: −$702 /mo · $8,428/yr
• Insurance: −$404
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,955
• Net cashflow: $1,160

Break-even live

Break-even rent $7,840

Max offer price $969,999

Occupancy floor 83%

Sensitivity live

Price	-10% $1,709	-5% $1,435	+0% $1,160	+5% $886	+10% $611
Rent	-10% $425	-5% $792	+0% $1,160	+5% $1,528	+10% $1,895
Rate	-1.0pp $1,649	-0.5pp $1,407	base $1,160	+0.5pp $909	+1.0pp $653

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$9,308
Total (2 units)			$9,308

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: $242,500
• Closing costs: $29,100
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-15
   status Pending
2. 2026-03-15
   listed $969,999 Active

ⓘ 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: $8,428 · $702/mo
• Projected year-2 tax: $12,410 · $1,034/mo
• Expected delta: +$3,983/yr (+$332/mo · 47.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 54% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $111,696
• − Mortgage interest: −$54,335
• − Property taxes: −$8,428
• − Insurance: −$4,850
• − Repairs & maintenance: −$8,936
• − Management: −$8,936
• − Depreciation: −$28,218
• Taxable loss: −$2,006
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $14,402/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

2 events — show timeline

• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-15 Listed $969,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $8,428 · -1.7% YoY. Source: county tax records.