1215 E 59th St · New York, NY 11234

$275,999

3 bd · 1.5 ba · 1,296 sqft · SingleFamily public records · 1 Days on market

Built 1960 2,000 sqft lot

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Why this score? — see what drove the C+ 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 +25.0/30.0
• DSCR +8.1/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CLEAN SEMI DEATCHED BRICK 3 BDRM DUPLEX, HARDWOOD FLRS THRU-OUT, HIGH CEILINGS, NEEDS SOME TOUCHING UP BUT SOLID HOME, NICE SIZE 16 X 40, SHARED DRIVE, SEMI FINISHED BSMT SEP ENTERANCE, NEW HWH, QUICK SALE, SHOW SELL.

Key facts

• 2,000 sq ft lot
• Parking
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $276k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $276k).
• Cap rate 8.9% 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 (+16.2%/yr); 460 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 42% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $77k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $275,999

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $759,456
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1439 E 64th St	0.37mi	3/2.0	1,280 (-1%)	3mo	$759,000	$593	76
2014 E 67th St	0.47mi	3/1.5	1,260 (-3%)	6mo	$865,000	$687	69
1448 E 65th St	0.39mi	3/1.5	1,368 (+6%)	7mo	$760,000	$556	67
1474 E 63rd St	0.42mi	3/2.0	1,218 (-6%)	2mo	$800,000	$657	66
1462 E 65th St	0.41mi	3/1.0	1,368 (+6%)	4mo	$725,000	$530	66
1566 E 49th St	0.53mi	3/2.0	1,190 (-8%)	3mo	$750,000	$630	57
1573 E 45th St	0.71mi	3/2.5	1,332 (+3%)	3mo	$780,000	$586	56
5218 Avenue M	0.36mi	4/3.0 (+1)	1,400 (+8%)	4mo	$800,000	$571	56
1637 E 53 St	0.45mi	4/2.5 (+1)	1,410 (+9%)	4mo	$730,000	$518	52
4622 Avenue M	0.65mi	3/2.0	1,200 (-7%)	5mo	$700,000	$583	52
1703 E 46th St	0.71mi	4/2.5 (+1)	1,222 (-6%)	1mo	$810,000	$663	48
24 Paerdegat 1st St	0.68mi	3/2.0	1,440 (+11%)	0mo	$725,000	$503	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $11,662
• Equity at exit: $41,152

10-year hold

• IRR: 17.8%
• Equity multiple: 2.85×
• Total profit: $142,616
• Equity at exit: $23,863

Cash invested: $77,280 (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 11234

• Rents YoY: 16.2%
• Active inventory: 460
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,441 medium
• Mortgage (P&I): −$1,447
• Tax from tax record: −$559 /mo · $6,706/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$723
• Net cashflow: $597

Break-even live

Break-even rent $2,685

Max offer price $275,999

Occupancy floor 78%

Sensitivity live

Price	-10% $753	-5% $675	+0% $597	+5% $519	+10% $441
Rent	-10% $325	-5% $461	+0% $597	+5% $733	+10% $869
Rate	-1.0pp $736	-0.5pp $667	base $597	+0.5pp $525	+1.0pp $453

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: $69,000
• Closing costs: $8,280
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1455 Royce St Unit 1H Brooklyn, NY	3.0	2.0	1113	$3,700	$3.32	25d	1	0.52mi
2731 E 65th St Unit 1 Brooklyn, NY	3.0	2.0	1300	$3,400	$2.62	25d	1	1.28mi
3222 Kings Hwy Unit 2 Brooklyn, NY	2.0	1.0	1200	$3,000	$2.50	25d	1	1.36mi

Listing history 7 events

1. 2025-07-09
   status Pending
2. 2025-07-09
   listed $275,999 Active
3. 2006-12-19
   soldstatus $445,200
4. 2006-07-14
   soldstatus $328,000
5. 2006-05-02
   listed $449,000 220-char remark

   Show marketing remark (220 chars)

   CLEAN SEMI DEATCHED BRICK 3 BDRM DUPLEX, HARDWOOD FLRS THRU-OUT, HIGH CEILINGS, NEEDS SOME TOUCHING UP BUT SOLID HOME, NICE SIZE 16 X 40, SHARED DRIVE, SEMI FINISHED BSMT SEP ENTERANCE, NEW HWH, QUICK SALE, SHOW SELL.

6. 2000-11-29
   soldstatus $225,000
7. 1990-06-20
   soldstatus $165,000

ⓘ 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: $6,706 · $559/mo
• Projected year-2 tax: $6,706 · $559/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $41,289
• − Mortgage interest: −$15,460
• − Property taxes: −$6,706
• − Insurance: −$1,380
• − Repairs & maintenance: −$3,303
• − Management: −$3,303
• − Depreciation: −$8,029
• Taxable income: $3,107
• Est. tax owed @ 24.0%: −$746
• After-tax cash flow: $6,418/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.

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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 6%

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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

+67.3% since first listed

7 events — show timeline

• 2025-07-09 Pending — BNYMLS
• 2025-07-09 Listed $275,999 BNYMLS
• 2006-12-19 Sold (Public Records) $445,200 Public Records
• 2006-07-14 Sold (Public Records) $328,000 Public Records
• 2006-05-02 Listed $449,000 BNYMLS
• 2000-11-29 Sold (Public Records) $225,000 Public Records
• 1990-06-20 Sold (Public Records) $165,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $6,706 · +2.2% YoY. Source: county tax records.