309 Stanhope St · New York, NY 11237

$1,249,999

36 bd · 36.0 ba · 4,650 sqft · MultiFamily public records · 143 Days on market

Built 1931

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

309 Stanhope Street | Six-Family Investment Opportunity in the Heart of Bushwick 309 Stanhope Street is a well-maintained six-family multifamily, making it an ideal opportunity for investors seeking both immediate income and long-term value growth. The property has been carefully maintained and features a recently installed boiler, providing peace of mind and reducing capital expenditure for the next owner. Perfectly positioned just 300 feet from the L train at DeKalb Avenue, the building offers exceptional accessibility and convenience. Residents enjoy immediate proximity to Bushwick’s vibrant restaurant and bar scene, as well as Maria Hernandez Park, making this location a true ren

Key facts

• Below-market rents
• New boiler
• Rent-stabilized unit

Tags

• STRONG UPSIDE POTENTIAL
• FREE-MARKET APARTMENTS
• RENT-STABILIZED UNIT
• BELOW-MARKET RENTS
• NEW BOILER
• EXCEPTIONAL ACCESSIBILITY

Property features AI

Finance

• Financial info: Pets not allowed in building
• HOA & community: Monthly association fee

Exterior

• Home design: 3-story building; Entry level: 1
• Construction: Lot dimensions approximately 25 x 100
• Exterior features: Private outdoor space (over 60 sq ft)

Interior

• Bedrooms: 6 bedrooms total
• Flooring: Hardwood
• Bathrooms: 6 full bathrooms
• Heating & cooling: Central heating
• Interior features: Unfurnished; Hardwood flooring; Full basement
• Laundry & utility: Laundry details: see remarks

What this means for you Summary

Snapshot

• This is a 6 × 6-bed/6.0-bath units multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive. Per door: $864/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.25M).
• Recommended offer: $1.10M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+4.8%/yr); 56 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $16,529/mo this rent would consume 233% of the median local household income ($85k/yr) (locally 4577% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $134k of equity ($9k loan paydown + $125k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $350k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$215k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($1.10M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $124k; list at $1.25M implies a 908% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $1,099,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% 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 1931 — 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. 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.
10. 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.
11. 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: 1.32% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.77%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 4.78% rent growth · sell at horizon

5-year hold

• IRR: 38.3%
• Equity multiple: 3.97×
• Total profit: $1,040,775
• Equity at exit: $1,126,098

10-year hold

• IRR: 33.6%
• Equity multiple: 9.20×
• Total profit: $2,870,618
• Equity at exit: $2,428,473

Cash invested: $350,000 (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 11237

• Home prices YoY: 3.1%
• Rents YoY: 4.8%
• Active inventory: 56
• Price-to-rent: 37.8×

Monthly cashflow live

• Estimated rent: $16,529 high
• Mortgage (P&I): −$6,555
• Tax from tax record: −$799 /mo · $9,592/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,471
• Net cashflow: $5,183

Break-even live

Break-even rent $9,969

Max offer price $1,249,999

Occupancy floor 64%

Sensitivity live

Price	-10% $5,890	-5% $5,536	+0% $5,183	+5% $4,829	+10% $4,475
Rent	-10% $3,877	-5% $4,530	+0% $5,183	+5% $5,836	+10% $6,488
Rate	-1.0pp $5,812	-0.5pp $5,501	base $5,183	+0.5pp $4,859	+1.0pp $4,529

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

Units	Beds	Baths	Est. rent
▸ 6× units	6	6	$16,530
Total (6 units)			$16,529

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,249,999 Active 143 DOM
2. 2026-06-17
   days on market $1,249,999 Active 142 DOM
3. 2026-06-15
   days on market $1,249,999 Active 140 DOM
4. 2026-06-13
   days on market $1,249,999 Active 138 DOM
5. 2026-06-10
   days on market $1,249,999 Active 134 DOM
6. 2026-06-08
   days on market $1,249,999 Active 133 DOM
7. 2026-06-04
   days on market $1,249,999 Active 129 DOM
8. 2026-06-03
   days on market $1,249,999 Active 128 DOM
9. 2026-06-01
   days on market $1,249,999 Active 126 DOM
10. 2026-05-31
    days on market $1,249,999 Active 125 DOM
11. 2026-02-23
    price $1,249,999
12. 2026-01-26
    listed $1,499,000 Active
13. 1994-06-15
    soldstatus $124,000
14. 1984-03-01
    soldstatus $30,000

ⓘ 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: $9,592 · $799/mo
• Projected year-2 tax: $15,358 · $1,280/mo
• Expected delta: +$5,767/yr (+$481/mo · 60.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 40% 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: $198,348
• − Mortgage interest: −$70,019
• − Property taxes: −$9,592
• − Insurance: −$6,250
• − Repairs & maintenance: −$15,868
• − Management: −$15,868
• − Depreciation: −$36,364
• Taxable income: $44,388
• Est. tax owed @ 24.0%: −$10,653
• After-tax cash flow: $51,539/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): 45,334
• Household income: $85,196
• Rent vs Own: 87.8% rent · 12.2% own
• Severe rent burden: 4577.0

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: Hispanic / Latino 52% White 26% Two or more races 17% Black 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 15% Cuban 1% Dominican 9%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 48% English-only · Spanish 41% Chinese 3% Other Indo-European 2%

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: ▲ 14.38%
• Current HPI: 481.1869
• Rent YoY: ▲ 4.78%
• 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

+4066.7% since first listed

4 events — show timeline

• 2026-02-23 Price Changed $1,249,999 RLS at REBNY
• 2026-01-26 Listed $1,499,000 RLS at REBNY
• 1994-06-15 Sold (Public Records) $124,000 Public Records
• 1984-03-01 Sold (Public Records) $30,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $9,592 · +2.2% YoY. Source: county tax records.