None · New York, NY 11207

$749,000

4 bd · 3.0 ba · 1,990 sqft · MultiFamily · 51 Days on market

Built 1930 Poor condition 1,900 sqft lot Est $724k · at est.

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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 +10.5/30.0
• ARV discount +6.0/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Rare opportunity at 774 Blake Avenue — perfect for the savvy investor AND the smart first-time homebuyer! Reimagine the space, bring your vision and make This powerhouse property your own — formerly a two-family with a commercial storefront — is primed for reconversion and packed with income-producing potential. First-time buyers, take note — this property may qualify for an FHA 203k renovation loan, allowing you to finance both the purchase and renovation costs in one mortgage, turning potential into profit from day one. The main unit features 3 bedrooms, a formal living room, full bath and a full kitchen. The expansive front living area on the first floor presents

Key facts

• Community garden
• Private entrance
• Neighborhood park

Tags

• PRIVATE ENTRANCE
• GENEROUS BACKYARD
• NEIGHBORHOOD PARK
• COMMUNITY GARDEN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electric service by Con-Edison; Public sewer; Electricity connected; Natural gas connected
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Back yard fencing; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heat; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Formal dining room; Partially finished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $749k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-387 ($-5k/yr) — negative. Per door: $-194/mo.
• To cash-flow at today's rent, offer at most $693k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $606k (19.1% below list).
• Recommended offer: $606k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 254 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,062/mo this rent would consume 129% 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 $5k of loan paydown is wiped out by about $22k 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 51 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $606,200 (19.1% 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 51 days. Have you received any prior offers? Is the seller open to a 19% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $724,360
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Pennsylvania Ave	0.28mi	4/3.0	2,060 (+4%)	2mo	$750,000	$364	79
549 Ashford St	0.33mi	3/2.0 (-1)	2,018 (+1%)	6mo	$940,000	$466	68
733 Warwick St	0.43mi	5/2.0 (+1)	2,000 (+0%)	9mo	$720,000	$360	63
668 Van Siclen Ave	0.39mi	4/3.0	2,175 (+9%)	6mo	$780,000	$359	62
780 Hendrix St	0.48mi	5/3.0 (+1)	1,848 (-7%)	2mo	$889,000	$481	59
399 Warwick St	0.44mi	4/2.0	1,800 (-10%)	8mo	$455,000	$253	53
215 Warwick St	0.73mi	5/3.0 (+1)	1,964 (-1%)	10mo	$975,000	$496	50
210 Barbey St	0.66mi	5/2.0 (+1)	1,920 (-4%)	22mo	$640,000	$333	36
473 Berriman St	0.68mi	4/2.0	1,720 (-14%)	9mo	$825,000	$480	34
28 Malta St	0.68mi	4/2.0	1,800 (-10%)	17mo	$431,000	$239	34

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: -17.4%
• Equity multiple: 0.37×
• Total profit: $-131,653
• Equity at exit: $111,678

10-year hold

• IRR: -5.7%
• Equity multiple: 0.60×
• Total profit: $-84,584
• Equity at exit: $64,760

Cash invested: $209,720 (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: 254
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $6,062 medium
• Mortgage (P&I): −$3,928
• Tax est. 1.5%: −$936 /mo · $11,235/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,273
• Net cashflow: $-387

Break-even live

Break-even rent $6,552

Max offer price $692,973

Occupancy floor —

Sensitivity live

Price	-10% $130	-5% $-128	+0% $-387	+5% $-646	+10% $-905
Rent	-10% $-866	-5% $-627	+0% $-387	+5% $-148	+10% $92
Rate	-1.0pp $-10	-0.5pp $-197	base $-387	+0.5pp $-581	+1.0pp $-779

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,062
Total (2 units)			$6,062

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 Saratoga Ave Brooklyn, NY	3.0	1.5	1300	$3,350	$2.58	26d	1	1.41mi

Listing history 14 events

1. 2026-06-21
   days on market $749,000 Active 51 DOM
2. 2026-06-18
   days on market $749,000 Active 48 DOM
3. 2026-06-17
   days on market $749,000 Active 47 DOM
4. 2026-06-16
   days on market $749,000 Active 46 DOM
5. 2026-06-15
   days on market $749,000 Active 45 DOM
6. 2026-06-13
   days on market $749,000 Active 43 DOM
7. 2026-06-10
   days on market $749,000 Active 39 DOM
8. 2026-06-08
   days on market $749,000 Active 38 DOM
9. 2026-06-08
   days on market $749,000 Active 37 DOM
10. 2026-06-04
    days on market $749,000 Active 34 DOM
11. 2026-06-03
    days on market $749,000 Active 33 DOM
12. 2026-06-01
    days on market $749,000 Active 31 DOM
13. 2026-05-31
    days on market $749,000 Active 30 DOM
14. 2026-05-01
    listed $749,000 Active

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $72,744
• − Mortgage interest: −$41,956
• − Property taxes: −$11,235
• − Insurance: −$3,745
• − Repairs & maintenance: −$5,820
• − Management: −$5,820
• − Depreciation: −$21,789
• Taxable loss: −$17,620
• Est. tax savings @ 24.0%: +$4,229
• After-tax cash flow: $-418/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

Poor 20/100 Extensive rehab

This property is in poor condition and requires extensive repairs and maintenance. Painting, landscaping, and HVAC upgrades would significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen walls and ceiling — Peeling paint and visible wear on the walls and ceiling.
• Major Bathroom floors and walls — Stained and dirty floors and walls.
• Major Roof — Visible damage and potential leaks.
• Major Exterior siding and paint — Peeling paint and damaged siding.
• Major Flooring — Visible wear and tear.
• Major Interior walls and ceilings — Peeling paint and visible damage.
• Major Windows — Signs of damage and potential leaks.
• Major Foundation and structure — Visible cracks and damage.
• Major HVAC and mechanical systems — Visible signs of neglect.

Value-add opportunities

• Both Painting and repainting — Painting the exterior and interior will improve the curb appeal and the overall condition of the property.
• Both Landscaping — Landscaping will improve the curb appeal and make the property more attractive to potential buyers or renters.
• Both HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the comfort and energy efficiency of the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen walls and ceiling · Peeling paint and visible wear on the walls and ceiling.	Major	$15,000–50,000
Bathroom floors and walls · Stained and dirty floors and walls.	Major	$15,000–50,000
Roof · Visible damage and potential leaks.	Major	$15,000–50,000
Exterior siding and paint · Peeling paint and damaged siding.	Major	$15,000–50,000
Flooring · Visible wear and tear.	Major	$15,000–50,000
Interior walls and ceilings · Peeling paint and visible damage.	Major	$15,000–50,000
Windows · Signs of damage and potential leaks.	Major	$15,000–50,000
Foundation and structure · Visible cracks and damage.	Major	$15,000–50,000
HVAC and mechanical systems · Visible signs of neglect.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both Painting and repainting — Painting the exterior and interior will improve the curb appeal and the overall condition of the property. ↑
• Both Landscaping — Landscaping will improve the curb appeal and make the property more attractive to potential buyers or renters. ↑
• Both HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the comfort and energy efficiency of the property. ↑

ⓘ 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): 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

1 event — show timeline

• 2026-05-01 Listed $749,000 OneKey® MLS as Distributed by MLS Grid