51 Rockwell Ave · New York, NY 10305

$888,888

6 bd · 2.0 ba · 2,100 sqft · MultiFamily public records · 57 Days on market

Built 1965 Est $869k · 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 +12.0/30.0
• ARV discount +6.5/15.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• 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 MLS

Detached two-family home in Rosebank, needs work... being sold as is.

Key facts

• Garage
• Built 1965
• Listed 57 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $889k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative. Per door: $-110/mo.
• To cash-flow at today's rent, offer at most $850k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $683k (23.1% below list).
• Recommended offer: $683k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 (+7.5%/yr); 255 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $6,833/mo this rent would consume 98% of the median local household income ($83k/yr) (locally 1647% 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 $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $29k; list at $889k implies a 2965% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% 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 $683,300 (23.1% 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 57 days. Have you received any prior offers? Is the seller open to a 23% 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.77% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $869,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47 Rockwell Ave	0.01mi	6/3.0	2,100 (0%)	6mo	$960,000	$457	91
1033 Van Duzer St	0.65mi	6/2.0	2,072 (-1%)	6mo	$710,000	$343	62
483 Steuben St	0.29mi	5/1.0 (-1)	2,250 (+7%)	5mo	$1,280,000	$569	62
224 Fingerboard Rd	0.55mi	6/2.0	1,992 (-5%)	13mo	$950,000	$477	55
400 Hanover Ave	0.37mi	5/2.0 (-1)	2,160 (+3%)	24mo	$855,000	$396	53
28 Shaughnessy Ln	0.50mi	6/7.0	2,016 (-4%)	1mo	$1,050,000	$521	50
24 Shaughnessy Ln	0.50mi	6/7.0	2,016 (-4%)	1mo	$1,050,000	$521	49
3 Windermere Rd	0.33mi	5/2.0 (-1)	2,392 (+14%)	12mo	$930,000	$389	46
50 Hope Ave	0.71mi	5/2.0 (-1)	2,295 (+9%)	2mo	$770,000	$336	45
123 Saint Marys Ave #1	0.60mi	6/2.5	2,250 (+7%)	20mo	$745,000	$331	41
443 Home Ave	0.69mi	5/2.0 (-1)	1,908 (-9%)	10mo	$790,000	$414	39
980 Van Duzer St	0.74mi	6/3.0	2,340 (+11%)	5mo	$780,000	$333	38

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.49×
• Total profit: $-125,885
• Equity at exit: $132,536

10-year hold

• IRR: 0.8%
• Equity multiple: 1.07×
• Total profit: $17,151
• Equity at exit: $76,855

Cash invested: $248,889 (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 10305

• Rents YoY: 7.5%
• Active inventory: 255
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $6,833 high
• Mortgage (P&I): −$4,661
• Tax from tax record: −$586 /mo · $7,027/yr
• Insurance: −$370
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,435
• Net cashflow: $-219

Break-even live

Break-even rent $7,111

Max offer price $850,147

Occupancy floor 98%

Sensitivity live

Price	-10% $284	-5% $32	+0% $-219	+5% $-471	+10% $-722
Rent	-10% $-759	-5% $-489	+0% $-219	+5% $51	+10% $321
Rate	-1.0pp $228	-0.5pp $7	base $-219	+0.5pp $-450	+1.0pp $-684

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,834
Total (2 units)			$6,833

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: $222,222
• Closing costs: $26,667
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-11-28
   status Pending

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

2. 2025-11-28
   status Pending 69-char remark

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

3. 2025-11-26
   status Pending 69-char remark

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

4. 2025-10-20
   historical Contingent 69-char remark

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

5. 2025-10-02
   listed $888,888 Active

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

6. 2025-10-02
   listed $888,888 Active 69-char remark

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

7. 2025-10-01
   listed $888,888 Active 69-char remark

   Show marketing remark (69 chars)

   Detached two-family home in Rosebank, needs work... being sold as is.

8. 1992-03-20
   soldstatus $29,000

ⓘ 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: $7,027 · $586/mo
• Projected year-2 tax: $11,025 · $919/mo
• Expected delta: +$3,998/yr (+$333/mo · 56.9%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $81,996
• − Mortgage interest: −$49,792
• − Property taxes: −$7,027
• − Insurance: −$4,444
• − Repairs & maintenance: −$6,560
• − Management: −$6,560
• − Depreciation: −$25,859
• Taxable loss: −$18,245
• Est. tax savings @ 24.0%: +$4,379
• After-tax cash flow: $1,747/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,270
• Household income: $83,413
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1647.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Asian 21% Hispanic / Latino 15% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 8%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 2%
• Foreign-born: 36% · China, Canada, Jamaica
• Languages at home: 52% English-only · Chinese 13% Russian/Polish/Slavic 12% Other Indo-European 8%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -487.06%
• Current HPI: 342.7938
• Rent YoY: ▲ 7.50%
• 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

+2965.1% since first listed

8 events — show timeline

• 2025-11-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-28 Pending — BNYMLS
• 2025-11-26 Pending — SIBORMLS
• 2025-10-20 Contingent — SIBORMLS
• 2025-10-02 Listed $888,888 BNYMLS
• 2025-10-02 Listed $888,888 OneKey® MLS as Distributed by MLS Grid
• 2025-10-01 Listed $888,888 SIBORMLS
• 1992-03-20 Sold (Public Records) $29,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $7,027 · +6.0% YoY. Source: county tax records.