852 Blake Ave · New York, NY 11207

$1,199,000

6 bd · 3.0 ba · 2,003 sqft · MultiFamily public records · 223 Days on market

Built 1901 2,500 sqft lot Est $971k · 23% over

---

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 +13.7/30.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 FAMILY DETACHED, NEEDS TOTAL RENOVATION. GREAT PROPERTY FOR INVESTOR. ALL CASH DEALS WELCOME. CALL OFFICE FOR KEYS.

Key facts

• Basement access
• Added storage
• Natural light

Tags

• THREE-FAMILY HOME
• STRONG RENTAL POTENTIAL
• NATURAL LIGHT
• BASEMENT ACCESS
• ADDED STORAGE
• EXTRA INCOME OPTIONS

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront; No additional parcels

Interior

• Bedrooms: Two 2-bedroom units; One 3-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating (natural gas); No central cooling
• Interior features: First-floor bedroom; Finished attic; Finished basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive. Per door: $29/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 $915k (23.7% below list).
• Recommended offer: $915k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+5.3%/yr); 251 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,148/mo this rent would consume 194% of the median local household income ($57k/yr) (locally 7510% 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 $8k of loan paydown is wiped out by about $36k 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 223 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $385k; list at $1.20M implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% 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 $914,800 (23.7% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 24% 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 1901 — 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. 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?
10. 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.
11. 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.
12. 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: 0.76% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $971,455
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
560 Jerome St	0.13mi	6/2.0	1,920 (-4%)	4mo	$908,000	$473	80
733 Warwick St	0.34mi	5/2.0 (-1)	2,000 (-0%)	9mo	$720,000	$360	68
795 Linwood St	0.44mi	6/3.0	2,040 (+2%)	10mo	$999,000	$490	68
673 Ashford St	0.33mi	6/2.0	2,050 (+2%)	11mo	$995,000	$485	68
307 Berriman St	0.46mi	6/4.0	2,112 (+5%)	1mo	$880,000	$417	65
623 Ashford St	0.25mi	7/3.0 (+1)	1,786 (-11%)	1mo	$1,120,000	$627	64
780 Hendrix St	0.46mi	5/3.0 (-1)	1,848 (-8%)	2mo	$889,000	$481	59
717 Hendrix St	0.34mi	6/2.0	2,200 (+10%)	7mo	$529,000	$240	58
215 Warwick St	0.69mi	5/3.0 (-1)	1,964 (-2%)	10mo	$975,000	$496	51
357 Elton St	0.44mi	6/3.0	1,748 (-13%)	10mo	$810,000	$463	50
610 Sheffield Ave	0.62mi	6/4.0	2,120 (+6%)	10mo	$1,180,000	$557	49
333 Milford St	0.60mi	5/3.0 (-1)	1,880 (-6%)	11mo	$999,999	$532	48

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-167,843
• Equity at exit: $178,775

10-year hold

• IRR: -2.0%
• Equity multiple: 0.85×
• Total profit: $-48,713
• Equity at exit: $103,668

Cash invested: $335,720 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $9,148 medium
• Mortgage (P&I): −$6,288
• Tax from tax record: −$354 /mo · $4,248/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,921
• Net cashflow: $86

Break-even live

Break-even rent $9,040

Max offer price $1,199,000

Occupancy floor 94%

Sensitivity live

Price	-10% $764	-5% $425	+0% $86	+5% $-254	+10% $-593
Rent	-10% $-637	-5% $-276	+0% $86	+5% $447	+10% $808
Rate	-1.0pp $689	-0.5pp $391	base $86	+0.5pp $-225	+1.0pp $-541

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,150
Total (3 units)			$9,148

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,199,000 Active 223 DOM
2. 2026-06-17
   days on market $1,199,000 Active 222 DOM
3. 2026-06-15
   days on market $1,199,000 Active 220 DOM
4. 2026-06-13
   days on market $1,199,000 Active 218 DOM
5. 2026-06-10
   days on market $1,199,000 Active 214 DOM
6. 2026-06-08
   days on market $1,199,000 Active 213 DOM
7. 2026-06-04
   days on market $1,199,000 Active 209 DOM
8. 2026-06-03
   days on market $1,199,000 Active 208 DOM
9. 2026-06-01
   days on market $1,199,000 Active 206 DOM
10. 2026-05-31
    days on market $1,199,000 Active 205 DOM
11. 2026-05-08
    status Active
12. 2026-05-08
    historical
13. 2025-11-07
    listed $1,199,000 Active
14. 2006-01-19
    soldstatus $385,000
15. 2005-11-01
    listed $399,000 117-char remark

    Show marketing remark (117 chars)

    3 FAMILY DETACHED, NEEDS TOTAL RENOVATION. GREAT PROPERTY FOR INVESTOR. ALL CASH DEALS WELCOME. CALL OFFICE FOR KEYS.

16. 2005-06-24
    soldstatus $270,000

ⓘ 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: $4,248 · $354/mo
• Projected year-2 tax: $12,256 · $1,021/mo
• Expected delta: +$8,007/yr (+$667/mo · 188.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 63% 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: $109,776
• − Mortgage interest: −$67,163
• − Property taxes: −$4,248
• − Insurance: −$5,995
• − Repairs & maintenance: −$8,782
• − Management: −$8,782
• − Depreciation: −$34,880
• Taxable loss: −$20,074
• Est. tax savings @ 24.0%: +$4,818
• After-tax cash flow: $5,845/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+344.1% since first listed

6 events — show timeline

• 2026-05-08 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid
• 2006-01-19 Sold (Public Records) $385,000 Public Records
• 2005-11-01 Listed $399,000 BNYMLS
• 2005-06-24 Sold (Public Records) $270,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,248 · -1.6% YoY. Source: county tax records.