3440 Fulton St · New York, NY 11208

$1,780,000

35 bd · 30.0 ba · 3,258 sqft · MultiFamily · 181 Days on market

Built 1915 1,776 sqft lot

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Why this score? — see what drove the C+ 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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

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

Welcome to 3440 Fulton Street, a beautiful corner property located in the heart of Brooklyn. This income-producing building features a free-market five-family residence plus one commercial storefront, totaling approximately 4,000 sq. ft. The structure is 20 x 55 ft. , situated on a 20 x 90 ft. lot, and zoned R5, offering both stability and potential for growth. Recent upgrades include a new boiler and a roof replaced just 3.5 years ago, ensuring peace of mind for future ownership. Perfectly positioned near shops, schools, parks, supermarkets, and multiple public transportation options, this property combines convenience with long-term investment value. Don’t miss the opportunity to ad

Key facts

• New boiler
• Zoned r5
• Roof replaced

Tags

• INCOME PRODUCING BUILDING
• FIVE FAMILY RESIDENCE
• COMMERCIAL STOREFRONT
• ZONED R5
• NEW BOILER
• ROOF REPLACED

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: No carport
• Utilities: Public sewer; Electricity available; Natural gas available
• Home design: Quadruplex; Total building area approximately 3,258
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Three 1-bedroom units; One 4-bedroom unit
• Bathrooms: Six full bathrooms
• Heating & cooling: Baseboard heating; Other heating; Wall/window air conditioning units
• Interior features: Other interior features; Basement present (see remarks)

What this means for you Summary

Snapshot

• This is a 5 × 7-bed/6.0-bath units multifamily listed at $1.78M.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $682/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.78M).
• Recommended offer: $1.57M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+6.1%/yr); 192 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $19,890/mo this rent would consume 384% of the median local household income ($62k/yr) (locally 7574% 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 $12k of loan paydown is wiped out by about $53k 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $498k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($1.57M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $1.35M; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,566,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-6,016
• Equity at exit: $265,404

10-year hold

• IRR: 12.4%
• Equity multiple: 2.12×
• Total profit: $559,498
• Equity at exit: $153,902

Cash invested: $498,400 (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 11208

• Rents YoY: 6.1%
• Active inventory: 192
• Price-to-rent: 37.3×

Monthly cashflow live

• Estimated rent: $19,890 medium
• Mortgage (P&I): −$9,335
• Tax est. 1.5%: −$2,225 /mo · $26,700/yr
• Insurance: −$742
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,177
• Net cashflow: $3,412

Break-even live

Break-even rent $15,571

Max offer price $1,780,000

Occupancy floor 78%

Sensitivity live

Price	-10% $4,642	-5% $4,027	+0% $3,412	+5% $2,797	+10% $2,182
Rent	-10% $1,841	-5% $2,626	+0% $3,412	+5% $4,198	+10% $4,983
Rate	-1.0pp $4,308	-0.5pp $3,865	base $3,412	+0.5pp $2,951	+1.0pp $2,481

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

Units	Beds	Baths	Est. rent
▸ 5× units	7	6	$19,890
Total (5 units)			$19,890

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: $445,000
• Closing costs: $53,400
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,780,000 Active 181 DOM
2. 2026-06-17
   days on market $1,780,000 Active 180 DOM
3. 2026-06-15
   days on market $1,780,000 Active 178 DOM
4. 2026-06-13
   days on market $1,780,000 Active 176 DOM
5. 2026-06-10
   days on market $1,780,000 Active 172 DOM
6. 2026-06-08
   days on market $1,780,000 Active 171 DOM
7. 2026-06-04
   days on market $1,780,000 Active 167 DOM
8. 2026-06-03
   days on market $1,780,000 Active 166 DOM
9. 2026-06-01
   days on market $1,780,000 Active 164 DOM
10. 2026-05-31
    days on market $1,780,000 Active 163 DOM
11. 2026-04-28
    status Active
12. 2026-02-13
    status Active
13. 2026-02-13
    price $1,780,000
14. 2025-09-12
    listed $1,680,000 Active
15. 2025-09-05
    historical
16. 2025-03-21
    listed $1,980,000 Active
17. 2025-01-21
    historical
18. 2025-01-10
    listed $1,980,000 Active
19. 2023-02-10
    historical
20. 2023-02-01
    listed $1,790,000 Active
21. 2018-02-07
    soldstatus $1,350,000 Closed
22. 2017-09-11
    status Under Contract
23. 2017-06-28
    listed $1,490,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $238,680
• − Mortgage interest: −$99,708
• − Property taxes: −$26,700
• − Insurance: −$8,900
• − Repairs & maintenance: −$19,094
• − Management: −$19,094
• − Depreciation: −$51,782
• Taxable income: $13,402
• Est. tax owed @ 24.0%: −$3,216
• After-tax cash flow: $37,727/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 1%

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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+19.5% since first listed

13 events — show timeline

• 2026-04-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $1,780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-12 Listed $1,680,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-21 Listed $1,980,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Listed $1,980,000 OneKey® MLS as Distributed by MLS Grid
• 2023-02-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-02-01 Listed $1,790,000 OneKey® MLS as Distributed by MLS Grid
• 2018-02-07 Sold (MLS) $1,350,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-06-28 Listed $1,490,000 OneKey® MLS as Distributed by MLS Grid