2363 81 St · New York, NY 11214

$1,290,000

12 bd · 7.8 ba · 5,670 sqft · MultiFamily · 24 Days on market

Built 1923 Average condition 2,700 sqft lot Est $1848k · 30% under ↓ 13% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks

Introducing this well maintained six-family solid brick building in Bensonhurst. A prime location, Lot size 27X100, R5 Zoning, building size 27X70. It features 6 x two-bedroom units, Nice layout every apartments feature big size bedrooms, living room and updated bath. Finished basement with separate entrance. one of the apartment can be delivered vacant. Gross yearly income $117,835.68 plus which is about 6% plus Cap. It's close to everything. This is a great opportunity for investment or use. Close to trains & shopping.

Key facts

• Separate entrance
• R5 zoning
• Solid brick building

Tags

• SOLID BRICK BUILDING
• FINISHED BASEMENT
• SEPARATE ENTRANCE
• PRIME LOCATION
• R5 ZONING
• CLOSE TO TRAINS

Property features AI

Finance

• Other: Six-unit building; Building footprint dimensions approximately 70.00 x 27.00; Total building area reported as 5,670 (see remarks for details); Zoning: R5; Building amenities: none
• Financial info: Financing options considered: exchange, bank mortgage, or cash; Reported monthly utility expense: 643.00

Exterior

• Parking: No parking on site
• Utilities: 220V electric; Gas hot water
• Home design: Semi-detached building; Residential property
• Construction: Brick construction; Other roof (see remarks); Other foundation
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Oven/Range included in units
• Bedrooms: Four bedrooms on level 1; Four bedrooms on level 2; Four bedrooms on level 3
• Flooring: Other flooring (see remarks)
• Bathrooms: Six full bathrooms; Two 3/4 bathrooms; Two bathrooms on level 1; Two bathrooms on level 2; Two bathrooms on level 3; One bathroom on level 4
• Heating & cooling: Gas heating fuel; Heat delivery: other; No central AC units reported
• Interior features: Finished basement; Other flooring (see remarks)
• Laundry & utility: Heat included in units; Water included in units

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.3-bath units multifamily listed at $1.29M. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $10k ($118k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.29M).
• Recommended offer: $1.27M (1.5% below list) — sets the bar for market timing.
• Cap rate 15.5% 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 (+5.9%/yr); 334 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $23,767/mo this rent would consume 433% of the median local household income ($66k/yr) (locally 6028% 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 $9k of loan paydown is wiped out by about $39k 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 + 5.9% rent growth), your $361k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,270,650 (1.5% 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 1923 — 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: 1.84% ✓
• Cap rate: 15.47%
• Cash-on-cash: 32.76%
• DSCR: 2.46
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $1,848,420
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2357 81 St	0.01mi	12/6.0	5,670 (0%)	8mo	$1,850,000	$326	86
1876 W 9th St	0.29mi	11/6.0 (-1)	5,148 (-9%)	7mo	$1,390,000	$270	53
2343 Bath Ave	0.56mi	12/5.0	5,412 (-5%)	3mo	$1,960,000	$362	52
7619 21st Ave	0.43mi	11/6.0 (-1)	5,031 (-11%)	12mo	$1,380,000	$274	39

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

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 31.1%
• Equity multiple: 2.36×
• Total profit: $489,977
• Equity at exit: $192,343

10-year hold

• IRR: 39.9%
• Equity multiple: 5.28×
• Total profit: $1,544,135
• Equity at exit: $111,536

Cash invested: $361,200 (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 11214

• Rents YoY: 5.9%
• Active inventory: 334
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $23,767 high
• Mortgage (P&I): −$6,765
• Tax est. 1.5%: −$1,612 /mo · $19,350/yr
• Insurance: −$538
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,991
• Net cashflow: $9,861

Break-even live

Break-even rent $11,285

Max offer price $1,290,000

Occupancy floor 54%

Sensitivity live

Price	-10% $10,753	-5% $10,307	+0% $9,861	+5% $9,415	+10% $8,970
Rent	-10% $7,983	-5% $8,922	+0% $9,861	+5% $10,800	+10% $11,739
Rate	-1.0pp $10,511	-0.5pp $10,189	base $9,861	+0.5pp $9,527	+1.0pp $9,187

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.3	$23,766
Total (6 units)			$23,767

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: $322,500
• Closing costs: $38,700
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $1,290,000 Active 24 DOM
2. 2026-06-18
   days on market $1,290,000 Active 21 DOM
3. 2026-06-18
   price $1,290,000 Active 20 DOM
4. 2026-06-17
   days on market $1,350,000 Active 20 DOM
5. 2026-06-16
   days on market $1,350,000 Active 19 DOM
6. 2026-06-15
   days on market $1,350,000 Active 18 DOM
7. 2026-06-13
   days on market $1,350,000 Active 16 DOM
8. 2026-06-10
   days on market $1,350,000 Active 12 DOM
9. 2026-06-08
   days on market $1,350,000 Active 11 DOM
10. 2026-06-08
    days on market $1,350,000 Active 10 DOM
11. 2026-06-04
    days on market $1,350,000 Active 7 DOM
12. 2026-06-03
    days on market $1,350,000 Active 6 DOM
13. 2026-06-02
    days on market $1,350,000 Active 5 DOM
14. 2026-06-01
    days on market $1,350,000 Active 4 DOM
15. 2026-05-31
    days on market $1,350,000 Active 3 DOM

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

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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $285,204
• − Mortgage interest: −$72,260
• − Property taxes: −$19,350
• − Insurance: −$6,450
• − Repairs & maintenance: −$22,816
• − Management: −$22,816
• − Depreciation: −$37,527
• Taxable income: $103,984
• Est. tax owed @ 24.0%: −$24,956
• After-tax cash flow: $93,376/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

A moderately rehabbed six-family brick building with average condition, requiring updates to kitchen, bathrooms, and interior walls to improve resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Slight wear
• Minor bathroom fixtures — Dated appearance
• Minor interior walls — Paint wear

Value-add opportunities

• Both Update kitchen cabinets and countertops — Modernizes kitchen and improves resale value
• Both Replace dated bathroom fixtures — Enhances bathroom aesthetics and rental appeal
• Both Paint interior walls — Refreshes interior and improves resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Slight wear	Minor	$500–3,000
bathroom fixtures · Dated appearance	Minor	$500–3,000
interior walls · Paint wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Update kitchen cabinets and countertops — Modernizes kitchen and improves resale value ↑
• Both Replace dated bathroom fixtures — Enhances bathroom aesthetics and rental appeal ↑
• Both Paint interior walls — Refreshes interior and improves resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

-12.9% since first listed

8 events — show timeline

• 2026-05-28 Listed $1,350,000 BNYMLS
• 2025-09-21 Price Changed $1,290,000 BNYMLS
• 2025-08-12 Price Changed $1,390,000 BNYMLS
• 2025-04-30 Price Changed $1,490,000 BNYMLS
• 2024-09-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-10 Price Changed $1,480,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-09 Price Changed $1,480,000 BNYMLS
• 2024-05-09 Listed $1,550,000 OneKey® MLS as Distributed by MLS Grid