326 39th St · New York, NY 11232

$1,288,888

6 bd · 3.0 ba · 1,740 sqft · MultiFamily public records · 223 Days on market

Built 1910 1,642 sqft lot Est $1493k · 14% under

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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).

• ARV discount +13.6/15.0
• Appreciation +9.2/10.0
• Cash flow +8.4/30.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.4/10.0

Multi-family units

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

Listing remarks

Three family Brick Building for sale in Prime Sunset location. Three-unit property, each floor provides a 2-bedroom, 1-bath layout with open eat-in kitchens and comfortable living rooms — ideal for owner-occupancy, extended family use, or investment income. Full Basement & private yard with outdoor space perfect for entertaining, gardening, or quiet relaxation. Location Highlights: Just minutes from major bus routes and the N/R subway lines at 36th Street, this home offers easy access to Manhattan and greater Brooklyn. Nestled in the heart of a neighborhood that’s rapidly evolving, residents will love proximity to Industry City — Brooklyn’s premier creative an

Key facts

• Full basement
• Private yard
• Outdoor space

Tags

• BRICK BUILDING
• FULL BASEMENT
• PRIVATE YARD
• OUTDOOR SPACE
• EASY ACCESS TO MANHATTAN
• PROXIMITY TO INDUSTRY CITY

Property features AI

Finance

• Financial info: Three-unit building; Current total rent income reported as $5,680; Unit 1 (Level 1): 2-bedroom, 1-bath, month-to-month tenancy, current rent $1,880; Unit 2 (Level 2): 2-bedroom, 1-bath, month-to-month tenancy, current rent $1,900; Unit 3 (Level 3): 2-bedroom, 1-bath, month-to-month tenancy, current rent $1,900; Financing options include bank mortgage or cash

Exterior

• Parking: No off-street parking
• Utilities: 110V electric; Gas supply; Hot water from boiler; Utility expense reported
• Home design: Attached building; Residential property; Flat roof; Brick exterior; Building dimensions approximately 60.00 x 16.00
• Construction: Brick construction; Other foundation
• Exterior features: Back yard

Interior

• Kitchen: Includes stove
• Bedrooms: Two bedrooms on each floor (Levels 1, 2, and 3)
• Flooring: Hardwood floors; Linoleum floors
• Bathrooms: Three full bathrooms (one on each level)
• Heating & cooling: Gas heat; No central air units reported
• Interior features: Stove; Full basement
• Laundry & utility: Hot water coil in boiler

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-385/mo.
• To cash-flow at today's rent, offer at most $1.08M (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $822k (36.2% below list).
• Recommended offer: $822k (36.2% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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); Ms 51 William Alexander (math 67% / reading 92%, grade A+, #32 of 729 statewide, top 5%, 1,026 students, 61% 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 (+6.3%/yr); 87 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $8,224/mo this rent would consume 109% of the median local household income ($91k/yr) (locally 1713% 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 $116k of equity ($9k loan paydown + $108k appreciation (8.3% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$187k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $115k; list at $1.29M implies a 1021% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $822,400 (36.2% 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 223 days. Have you received any prior offers? Is the seller open to a 36% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.64% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $1,492,920
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
647 47th St	0.60mi	5/3.0 (-1)	1,812 (+4%)	3mo	$1,100,000	$607	58
642 48th St	0.65mi	6/2.0	1,824 (+5%)	10mo	$1,600,000	$877	50
630 47th St	0.60mi	7/3.0 (+1)	1,840 (+6%)	11mo	$1,600,000	$870	48
643 47th St	0.60mi	5/3.0 (-1)	1,812 (+4%)	15mo	$1,280,000	$706	48
747 42nd St	0.64mi	7/3.0 (+1)	1,920 (+10%)	10mo	$1,565,000	$815	40
629 48th St	0.62mi	7/3.0 (+1)	1,864 (+7%)	19mo	$1,600,000	$858	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.35% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.42×
• Total profit: $513,271
• Equity at exit: $1,009,776

10-year hold

• IRR: 18.3%
• Equity multiple: 5.46×
• Total profit: $1,609,985
• Equity at exit: $2,034,276

Cash invested: $360,889 (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 11232

• Home prices YoY: 2.0%
• Rents YoY: 6.3%
• Active inventory: 87
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $8,224 medium
• Mortgage (P&I): −$6,759
• Tax from tax record: −$357 /mo · $4,282/yr
• Insurance: −$537
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,727
• Net cashflow: $-1,156

Break-even live

Break-even rent $9,687

Max offer price $1,084,680

Occupancy floor —

Sensitivity live

Price	-10% $-426	-5% $-791	+0% $-1,156	+5% $-1,521	+10% $-1,886
Rent	-10% $-1,806	-5% $-1,481	+0% $-1,156	+5% $-831	+10% $-506
Rate	-1.0pp $-507	-0.5pp $-828	base $-1,156	+0.5pp $-1,490	+1.0pp $-1,830

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,223
Total (3 units)			$8,224

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: $322,222
• Closing costs: $38,667
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $1,288,888 Active 223 DOM
2. 2026-06-18
   days on market $1,288,888 Active 220 DOM
3. 2026-06-17
   days on market $1,288,888 Active 219 DOM
4. 2026-06-15
   days on market $1,288,888 Active 217 DOM
5. 2026-06-13
   days on market $1,288,888 Active 215 DOM
6. 2026-06-10
   days on market $1,288,888 Active 211 DOM
7. 2026-06-08
   days on market $1,288,888 Active 210 DOM
8. 2026-06-04
   days on market $1,288,888 Active 206 DOM
9. 2026-06-03
   days on market $1,288,888 Active 205 DOM
10. 2026-06-01
    days on market $1,288,888 Active 203 DOM
11. 2026-05-31
    days on market $1,288,888 Active 202 DOM
12. 2026-04-01
    price $1,288,888
13. 2026-01-12
    price $1,399,999
14. 2025-11-10
    listed $1,500,000 Active
15. 1999-01-11
    soldstatus $115,000
16. 1984-12-19
    soldstatus $27,500
17. 1981-07-01
    soldstatus $16,363

ⓘ 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: $4,282 · $357/mo
• Projected year-2 tax: $13,032 · $1,086/mo
• Expected delta: +$8,750/yr (+$729/mo · 204.3%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $98,688
• − Mortgage interest: −$72,198
• − Property taxes: −$4,282
• − Insurance: −$6,444
• − Repairs & maintenance: −$7,895
• − Management: −$7,895
• − Depreciation: −$37,495
• Taxable loss: −$37,521
• Est. tax savings @ 24.0%: +$9,005
• After-tax cash flow: $-4,867/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): 27,816
• Household income: $90,891
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 1713.0

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 23% Asian 15% Two or more races 12% Black 6% Native American 4%
• Hispanic origin (detail): Mexican 20% Puerto Rican 9% Dominican 7%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 38% · Canada, China, Jamaica
• Languages at home: 40% English-only · Spanish 44% Chinese 9% Other Asian/Pacific 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: ▲ 8.35%
• Current HPI: 422.0849
• Rent YoY: ▲ 6.26%
• 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

+7776.8% since first listed

6 events — show timeline

• 2026-04-01 Price Changed $1,288,888 BNYMLS
• 2026-01-12 Price Changed $1,399,999 BNYMLS
• 2025-11-10 Listed $1,500,000 BNYMLS
• 1999-01-11 Sold (Public Records) $115,000 Public Records
• 1984-12-19 Sold (Public Records) $27,500 Public Records
• 1981-07-01 Sold (Public Records) $16,363 Public Records

Property tax history

+5.1%/yr

Latest (2025): $4,282 · -1.6% YoY. Source: county tax records.