2530 Coney Island Ave · New York, NY 11223

$1,650,000

28 bd · 20.0 ba · 1,496 sqft · MultiFamily public records · 758 Days on market

Built 1930 3,600 sqft lot

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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).

• Cash flow +9.3/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Introducing a very large legal Four family detached home in the heart of vibrant Sheepshead bay. This multi family income producer sits on a 30 x 120 lot, has a very large backyard providing ample private outdoor space. First floor has two units, 1 bedroom apartment and a 2 bedroom apartment, second floor has a very large 3 bedroom apartment and third floor is 1 bedroom unit. All tenants are current and cooperative. There is a full basement with separate entrance leading to the spacious backyard. Property is conveniently located near near Parks, schools, shops, buses , B & Q subway lines and the Belt Pkwy.

Key facts

• 3,600 sq ft lot
• Built 1930
• Listed 758 days

Property features AI

Finance

• Financial info: Accepts bank mortgage or cash financing; Four-unit property (multifamily); one unit currently leased with reported rent of $2,000

Exterior

• Parking: Shared driveway
• Utilities: Circuit breakers for electric; Gas hot water; Gas heating; Steam/radiator heat delivery
• Home design: Detached residential building; Pitched roof; Building faces R4 zoning
• Construction: Block construction; Brick exterior; Poured concrete foundation
• Exterior features: Back yard

Interior

• Bedrooms: Three bedrooms on the first floor; Three bedrooms on the second floor; One bedroom on the third floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Four full bathrooms; One three-quarter bathroom; Two bathrooms on level 1; One bathroom on level 2; One bathroom on level 3
• Heating & cooling: Steam/radiator heating; Gas hot water; Gas heating fuel; Circuit breaker electrical service
• Interior features: Finished full basement; Hardwood floors; Tile floors; Two AC units; Total of 15 rooms

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/5.0-bath units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-301/mo.
• To cash-flow at today's rent, offer at most $1.44M (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.19M (27.8% below list).
• Recommended offer: $1.19M (27.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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 (+13.1%/yr); 216 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,919/mo this rent would consume 226% of the median local household income ($63k/yr) (locally 6011% 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 $11k of loan paydown is wiped out by about $50k 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.

Negotiation context

• It's been on market 758 days — a 12% lower offer ($1.45M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $705k; list at $1.65M implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,191,900 (27.8% 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 758 days. Have you received any prior offers? Is the seller open to a 28% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.72% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.13%
• DSCR: 0.86
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.39×
• Total profit: $-281,439
• Equity at exit: $246,020

10-year hold

• IRR: -1.5%
• Equity multiple: 0.87×
• Total profit: $-58,439
• Equity at exit: $142,662

Cash invested: $462,000 (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 11223

• Rents YoY: 13.1%
• Active inventory: 216
• Price-to-rent: 46.1×

Monthly cashflow live

• Estimated rent: $11,919 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$1,281 /mo · $15,371/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,503
• Net cashflow: $-1,205

Break-even live

Break-even rent $13,445

Max offer price $1,437,105

Occupancy floor —

Sensitivity live

Price	-10% $-271	-5% $-738	+0% $-1,205	+5% $-1,672	+10% $-2,139
Rent	-10% $-2,147	-5% $-1,676	+0% $-1,205	+5% $-734	+10% $-264
Rate	-1.0pp $-374	-0.5pp $-785	base $-1,205	+0.5pp $-1,633	+1.0pp $-2,068

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	5	$11,920
Total (4 units)			$11,919

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $1,650,000 Active 758 DOM
2. 2026-06-17
   days on market $1,650,000 Active 757 DOM
3. 2026-06-15
   days on market $1,650,000 Active 755 DOM
4. 2026-06-13
   days on market $1,650,000 Active 753 DOM
5. 2026-06-10
   days on market $1,650,000 Active 749 DOM
6. 2026-06-08
   days on market $1,650,000 Active 748 DOM
7. 2026-06-03
   days on market $1,650,000 Active 743 DOM
8. 2026-06-01
   days on market $1,650,000 Active 741 DOM
9. 2026-05-31
   days on market $1,650,000 Active 740 DOM
10. 2025-06-12
    price $1,650,000
11. 2024-10-22
    price $1,600,000
12. 2024-10-07
    price $1,640,000
13. 2024-07-22
    price $1,650,000
14. 2024-07-06
    price $1,675,000
15. 2024-05-21
    listed $1,699,000 Active
16. 2010-08-17
    soldstatus $705,000
17. 1991-10-03
    soldstatus $70,000

ⓘ 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: $15,371 · $1,281/mo
• Projected year-2 tax: $21,628 · $1,802/mo
• Expected delta: +$6,257/yr (+$521/mo · 40.7%)

ⓘ 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 (unshaded) · 70% 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: $143,028
• − Mortgage interest: −$92,426
• − Property taxes: −$15,371
• − Insurance: −$8,250
• − Repairs & maintenance: −$11,442
• − Management: −$11,442
• − Depreciation: −$48,000
• Taxable loss: −$43,903
• Est. tax savings @ 24.0%: +$10,537
• After-tax cash flow: $-3,925/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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 0.65)
• Race & ethnicity: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+2257.1% since first listed

8 events — show timeline

• 2025-06-12 Price Changed $1,650,000 BNYMLS
• 2024-10-22 Price Changed $1,600,000 BNYMLS
• 2024-10-07 Price Changed $1,640,000 BNYMLS
• 2024-07-22 Price Changed $1,650,000 BNYMLS
• 2024-07-06 Price Changed $1,675,000 BNYMLS
• 2024-05-21 Listed $1,699,000 BNYMLS
• 2010-08-17 Sold (Public Records) $705,000 Public Records
• 1991-10-03 Sold (Public Records) $70,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $15,371 · +6.9% YoY. Source: county tax records.