441 68th St · New York, NY 11220

$1,290,000

12 bd · 6.0 ba · 5,175 sqft · MultiFamily public records · 147 Days on market

Built 1918 2,317 sqft lot Est $1433k · 10% under

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Why this score? — see what drove the B- 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 +21.2/30.0
• ARV discount +12.0/15.0
• Appreciation +7.8/10.0
• DSCR +6.8/10.0
• 1% rule +5.9/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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

Solid brick 6-family building in a high-demand neighborhood. Building size 23' x 73' on a 23' x 100' lot, featuring three above-ground floors plus basement with separate entrance. All six units offer 2 bedrooms and 1 full bathroom, well maintained throughout. One unit will be delivered vacant. Recent updates include new roof, new gas furnace, and upgraded water heater. Conveniently located near public transportation, shopping, schools, and local amenities. Excellent investment opportunity with strong income potential.

Key facts

• Separate entrance
• Recent updates
• Solid brick building

Tags

• SOLID BRICK BUILDING
• THREE ABOVE-GROUND FLOORS
• SEPARATE ENTRANCE
• RECENT UPDATES
• NEW ROOF
• NEW GAS FURNACE

Property features AI

Finance

• Other: Building footprint approx. 1,725 sq ft; Total building area reported: 5,175 (total sq ft value provided)
• Financial info: Monthly rent income reported: $7,459; Utilities expense reported: $1,500; Financing options: Exchange considered, Bank mortgage, Cash

Exterior

• Parking: No on-site parking
• Utilities: 110V electric; Electric hot water; Gas heating; Hot water heat delivery
• Home design: Attached building; Residential property
• Construction: Brick exterior; Flat roof; Poured concrete foundation
• Exterior features: Back yard; Zoned R5B

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Six 2-bedroom units (various floors)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Six full bathrooms (one per unit)
• Heating & cooling: Hot water heating (gas-fired); Window A/C units
• Interior features: Window A/C units; Refrigerator; Stove; Hardwood floors; Tile floors; Unfinished basement
• Laundry & utility: No built-in washer/dryer listed

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.29M).
• Recommended offer: $1.14M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Market conditions: Rents rising fast (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,094/mo this rent would consume 242% of the median local household income ($70k/yr) (locally 6563% 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 $82k of equity ($9k loan paydown + $73k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $361k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$131k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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.
• Current owner paid $735k; list at $1.29M implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,135,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1918 — 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: 1.09% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $1,433,475
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 67th St	0.25mi	12/6.0	5,232 (+1%)	0mo	$1,450,000	$277	86
352 63rd St	0.32mi	12/6.0	5,549 (+7%)	9mo	$1,380,000	$249	66
729 59th St	0.63mi	11/7.0 (-1)	4,800 (-7%)	2mo	$1,400,000	$292	48

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

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.49×
• Total profit: $538,117
• Equity at exit: $781,225

10-year hold

• IRR: 23.6%
• Equity multiple: 5.66×
• Total profit: $1,683,547
• Equity at exit: $1,391,744

Cash invested: $361,200 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 45.8×

Monthly cashflow live

• Estimated rent: $14,094 medium
• Mortgage (P&I): −$6,765
• Tax from tax record: −$1,968 /mo · $23,620/yr
• Insurance: −$538
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,960
• Net cashflow: $1,864

Break-even live

Break-even rent $11,735

Max offer price $1,290,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$14,094
Total (6 units)			$14,094

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: $322,500
• Closing costs: $38,700
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,290,000 Active 147 DOM
2. 2026-06-17
   days on market $1,290,000 Active 146 DOM
3. 2026-06-15
   days on market $1,290,000 Active 144 DOM
4. 2026-06-13
   days on market $1,290,000 Active 142 DOM
5. 2026-06-10
   days on market $1,290,000 Active 138 DOM
6. 2026-06-08
   days on market $1,290,000 Active 137 DOM
7. 2026-06-04
   days on market $1,290,000 Active 133 DOM
8. 2026-06-03
   days on market $1,290,000 Active 132 DOM
9. 2026-06-01
   days on market $1,290,000 Active 130 DOM
10. 2026-05-31
    days on market $1,290,000 Active 129 DOM
11. 2026-01-22
    listed $1,290,000 Active
12. 2025-09-11
    price $1,190,000
13. 2022-03-24
    historical
14. 2022-02-22
    price $1,500,000
15. 2022-01-18
    listed $1,750,000 Active
16. 2021-12-31
    historical
17. 2021-11-16
    price $1,750,000
18. 2021-03-22
    listed $1,830,000 Active
19. 2009-10-19
    soldstatus $735,000
20. 2009-02-10
    listed $828,000
21. 1983-11-01
    soldstatus $95,000

ⓘ 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: $23,620 · $1,968/mo
• Projected year-2 tax: $23,620 · $1,968/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 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: $169,128
• − Mortgage interest: −$72,260
• − Property taxes: −$23,620
• − Insurance: −$6,450
• − Repairs & maintenance: −$13,530
• − Management: −$13,530
• − Depreciation: −$37,527
• Taxable income: $2,210
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $21,832/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

+1257.9% since first listed

11 events — show timeline

• 2026-01-22 Listed $1,290,000 BNYMLS
• 2025-09-11 Price Changed $1,190,000 BNYMLS
• 2022-03-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-02-22 Price Changed $1,500,000 OneKey® MLS as Distributed by MLS Grid
• 2022-01-18 Listed $1,750,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-11-16 Price Changed $1,750,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-22 Listed $1,830,000 OneKey® MLS as Distributed by MLS Grid
• 2009-10-19 Sold (Public Records) $735,000 Public Records
• 2009-02-10 Listed $828,000 BNYMLS
• 1983-11-01 Sold (Public Records) $95,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $23,620 · +2.2% YoY. Source: county tax records.