239 Buffalo Ave · New York, NY 11213

$799,000

4 bd · 2.0 ba · 1,228 sqft · MultiFamily public records · 14 Days on market

Built 1910 2,000 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 +17.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• 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 MLS

Fully renovated two-family house. This house features a three over two bedrooms with brand new boiler, hardwood floor, new kitchen appliances and counter tops. This house is conveniently located in a trendy up and coming area in Crown Heights Brooklyn. Walk just a few blocks to Eastern Pkwy for most public transportation and all. Why pay rent when you can own this property and collect rent in a booming area?. The owner price this property right for a quick sale. Agents bring your buyers showing is very easy.

Key facts

• Multiple floors
• Low taxes
• Cafes

Tags

• PRIME LOCATION
• INVESTMENT OPPORTUNITY
• MULTIPLE FLOORS
• LOW TAXES
• RESTAURANTS
• CAFES

Property features AI

Finance

• Other: Pets are not allowed
• Financial info: Annual tax amount: $1,884
• HOA & community: HOA/association fees billed monthly

Exterior

• Parking: Parking details not provided
• Security: Details not provided
• Utilities: Utilities details not provided
• Home design: 2-story property; Entry level: 1
• Construction: Construction details not provided
• Exterior features: Private outdoor space (over 60 sq ft); Private yard

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Details not provided
• Interior features: Unfurnished; Total of 8 rooms; Two separate residential units in the building
• Laundry & utility: Laundry: see remarks

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive. Per door: $294/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 $666k (16.6% below list).
• Recommended offer: $666k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 (+6.0%/yr); 73 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,665/mo this rent would consume 123% of the median local household income ($65k/yr) (locally 6603% 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 $85k of equity ($6k loan paydown + $80k 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 + 6.0% rent growth), your $224k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $464k; list at $799k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $666,500 (16.6% 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 1910 — 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: 0.83% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.15%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.95% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.20×
• Total profit: $492,513
• Equity at exit: $719,803

10-year hold

• IRR: 24.7%
• Equity multiple: 7.56×
• Total profit: $1,466,675
• Equity at exit: $1,552,281

Cash invested: $223,720 (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 11213

• Home prices YoY: 4.3%
• Rents YoY: 6.0%
• Active inventory: 73
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $6,665 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,400
• Net cashflow: $587

Break-even live

Break-even rent $5,922

Max offer price $799,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,664
Total (2 units)			$6,665

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 Saratoga Ave Brooklyn, NY	3.0	1.5	1300	$3,350	$2.58	24d	1	0.89mi
1066 Putnam Ave Brooklyn, NY	4.0	2.0	647	$1,110	$1.71	5d	1	1.17mi
22 Granite St Brooklyn, NY	4.0	2.0	586	$1,150	$1.96	4d	1	1.19mi
951 Madison St Brooklyn, NY	5.0	1.0	650	$1,280	$1.97	5d	1	1.25mi
951 Madison St Brooklyn, NY	4.0	1.0	1000	$1,260	$1.26	24d	1	1.25mi
448 Empire Blvd Brooklyn, NY	4.0	2.0	592	$1,170	$1.97	5d	1	1.27mi
705 Saint Marks Ave Brooklyn, NY	4.0	2.0	650	$1,100	$1.69	20d	1	1.32mi
105 Weirfield St Brooklyn, NY	5.0	2.0	660	$1,190	$1.80	5d	1	1.37mi
533 Nostrand Ave Brooklyn, NY	4.0	1.0	690	$1,300	$1.88	20d	1	1.40mi
762 Park Pl Unit 3B Brooklyn, NY	3.0	2.0	1114	$5,400	$4.85	24d	1	1.45mi
1083 Thomas S Boyland St Unit 2 Brooklyn, NY	4.0	1.0	1100	$3,600	$3.27	24d	1	1.45mi
148 Cornelia St Brooklyn, NY	4.0	1.0	652	$1,190	$1.82	20d	1	1.49mi
104 Rogers Ave Brooklyn, NY	4.0	2.0	550	$1,250	$2.27	20d	1	1.49mi

Listing history 9 events

1. 2026-06-18
   days on market $799,000 Active 14 DOM
2. 2026-06-17
   days on market $799,000 Active 13 DOM
3. 2026-06-16
   days on market $799,000 Active 12 DOM
4. 2026-06-15
   days on market $799,000 Active 11 DOM
5. 2026-06-13
   days on market $799,000 Active 9 DOM
6. 2026-06-09
   days on market $799,000 Active 5 DOM
7. 2026-06-08
   days on market $799,000 Active 4 DOM
8. 2026-06-07
   remarks 438-char remark
9. 2026-06-07
   listed $799,000 Active 3 DOM

ⓘ 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: $1,861 · $155/mo
• Projected year-2 tax: $7,682 · $640/mo
• Expected delta: +$5,821/yr (+$485/mo · 312.9%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $79,980
• − Mortgage interest: −$44,756
• − Property taxes: −$1,861
• − Insurance: −$3,995
• − Repairs & maintenance: −$6,398
• − Management: −$6,398
• − Depreciation: −$23,244
• Taxable loss: −$6,672
• Est. tax savings @ 24.0%: +$1,601
• After-tax cash flow: $8,650/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): 68,846
• Household income: $65,127
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 6603.0

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 0.61)
• Race & ethnicity: Black 56% White 23% Hispanic / Latino 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 4%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 32% · Canada, Mexico, China
• Languages at home: 76% English-only · Spanish 9% French/Haitian/Cajun 6% German/W. Germanic 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: ▲ 23.71%
• Current HPI: 577.3841
• Rent YoY: ▲ 5.95%
• 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

+1498.0% since first listed

10 events — show timeline

• 2026-06-02 Listed $799,000 RLS at REBNY
• 2020-04-15 Sold (MLS) $464,000 BNYMLS
• 2015-09-24 Delisted — BNYMLS
• 2015-07-16 Pending — BNYMLS
• 2015-04-29 Price Changed $475,000 BNYMLS
• 2015-04-03 Listed $479,000 BNYMLS
• 2014-05-21 Sold (Public Records) $155,000 Public Records
• 1999-08-27 Sold (Public Records) $147,000 Public Records
• 1997-10-22 Sold (Public Records) $18,000 Public Records
• 1988-05-31 Sold (Public Records) $50,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,861 · -1.0% YoY. Source: county tax records.