2817 W 20th St · New York, NY 11221

$1,186,500

45 bd · 25.0 ba · 3,160 sqft · MultiFamily public records · 256 Days on market

Built 1930 2,908 sqft lot ↓ 26% since listing

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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 +26.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• 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: 5 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

5 Family All Brick Building, Back, Side & Front Yard!!! . .. . Coney Island's Luna Park, Famous Nathan's & The Beach just minutes away!!! . .. . Full Basement with a back door as well as an interior door, Tenant occupied Bldg . .. .no leases but collect rent automatically as soon as you buy! There are 6 electric and 6 Gas meters for cooking . .Each of the 5 Apartments have their own meters. The 6 Electric meter is for hall lights & Basement, The 6 Gas Meter supplies Heat & Hot water for the apartments. .. Kitchen and bathrooms have been updated . .. The 1st Fl Rear Apt bathroom and kitchen both 2022.. .. The 1st Fl front Apt - Kitchen 2024, Bath 2010.. .. The roof is

Key facts

• All brick building
• Full basement
• Flat tar roof

Tags

• ALL BRICK BUILDING
• FULL BASEMENT
• UPDATED KITCHEN AND BATHROOMS
• FLAT TAR ROOF
• 6 ELECTRIC AND 6 GAS METERS

Property features AI

Finance

• Other: 5-unit multifamily property (five leased units)
• Financial info: Rent income reported: $85,800; Current unit rents range from $1,400 to $1,650; Financing options noted: bank mortgage or cash; Utility expense reported

Exterior

• Parking: Street parking
• Utilities: 220V electric; Gas hot water; Gas heating; Heat delivered via hot water
• Home design: Attached residential building; Flat roof; Poured concrete foundation; Zoned R5
• Construction: Brick and masonry construction; Brick exterior
• Exterior features: Back yard

Interior

• Bedrooms: 5 total units: mix of 1‑bedroom and 2‑bedroom units (individual unit counts below)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 5 full bathrooms (one per unit)
• Heating & cooling: Hot water heat; Gas heating fuel; 220V electric service
• Interior features: Hardwood floors; Tile floors; Full basement with a separate entrance; More than five AC units

What this means for you Summary

Snapshot

• This is a 5 × 9-bed/5.0-bath units multifamily listed at $1.19M.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $566/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.19M).
• Recommended offer: $1.04M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (+5.2%/yr); 211 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,171/mo this rent would consume 198% of the median local household income ($86k/yr) (locally 8053% 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 $127k of equity ($8k loan paydown + $119k 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 + 5.2% rent growth), your $332k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$204k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($1.04M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 68% 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 $1,044,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.19% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 3.58×
• Total profit: $858,199
• Equity at exit: $1,068,893

10-year hold

• IRR: 29.0%
• Equity multiple: 8.39×
• Total profit: $2,455,362
• Equity at exit: $2,305,109

Cash invested: $332,220 (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 11221

• Home prices YoY: 3.3%
• Rents YoY: 5.2%
• Active inventory: 211
• Price-to-rent: 34.9×

Monthly cashflow live

• Estimated rent: $14,171 medium
• Mortgage (P&I): −$6,222
• Tax from tax record: −$1,220 /mo · $14,640/yr
• Insurance: −$494
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,976
• Net cashflow: $2,832

Break-even live

Break-even rent $10,586

Max offer price $1,186,500

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 5× units	9	5	$14,170
Total (5 units)			$14,171

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: $296,625
• Closing costs: $35,595
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $1,186,500 Active 256 DOM
2. 2026-06-17
   days on market $1,186,500 Active 255 DOM
3. 2026-06-15
   price $1,186,500 Active 253 DOM
4. 2026-06-15
   days on market $1,200,000 Active 253 DOM
5. 2026-06-13
   days on market $1,200,000 Active 251 DOM
6. 2026-06-10
   days on market $1,200,000 Active 247 DOM
7. 2026-06-08
   pricedays on market $1,200,000 Active 246 DOM
8. 2026-06-03
   days on market $1,394,999 Active 241 DOM
9. 2026-06-02
   price $1,394,999 Active 239 DOM
10. 2026-06-01
    days on market $1,397,499 Active 239 DOM
11. 2026-05-31
    pricedays on market $1,397,499 Active 238 DOM
12. 2026-05-18
    price $1,399,999
13. 2026-05-15
    price $1,402,500
14. 2026-05-08
    price $1,405,000
15. 2026-05-04
    price $1,407,500
16. 2026-04-30
    price $1,410,000
17. 2026-04-24
    price $1,422,500
18. 2026-04-16
    price $1,425,000
19. 2026-04-10
    price $1,472,500
20. 2026-03-30
    price $1,475,000
21. 2026-03-11
    price $1,499,000
22. 2026-03-09
    price $1,544,999
23. 2026-03-05
    price $1,549,999
24. 2026-03-02
    price $1,563,000
25. 2026-02-25
    price $1,564,000
26. 2026-02-20
    price $1,565,000
27. 2026-02-16
    price $1,566,000
28. 2026-02-09
    price $1,568,000
29. 2026-02-06
    price $1,569,000
30. 2026-01-30
    price $1,570,000
31. 2026-01-23
    price $1,572,000
32. 2026-01-12
    price $1,575,000
33. 2026-01-05
    price $1,594,999
34. 2026-01-02
    price $1,595,999
35. 2025-12-29
    price $1,596,999
36. 2025-12-26
    price $1,599,999
37. 2025-12-18
    price $1,625,000
38. 2025-12-16
    price $1,825,000
39. 2025-12-08
    price $1,847,988
40. 2025-12-02
    price $1,848,088
41. 2025-11-29
    price $1,848,188
42. 2025-11-25
    price $1,848,288
43. 2025-11-21
    price $1,848,388
44. 2025-11-18
    price $1,848,488
45. 2025-11-14
    price $1,848,588
46. 2025-11-10
    price $1,848,688
47. 2025-11-07
    price $1,848,888
48. 2025-11-03
    price $1,899,500
49. 2025-10-30
    price $1,899,600
50. 2025-10-27
    price $1,899,700

ⓘ 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: $14,640 · $1,220/mo
• Projected year-2 tax: $17,346 · $1,445/mo
• Expected delta: +$2,706/yr (+$225/mo · 18.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $170,052
• − Mortgage interest: −$66,462
• − Property taxes: −$14,640
• − Insurance: −$11,051
• − Repairs & maintenance: −$13,604
• − Management: −$13,604
• − Depreciation: −$34,516
• Taxable income: $16,174
• Est. tax owed @ 24.0%: −$3,882
• After-tax cash flow: $30,103/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): 91,588
• Household income: $85,736
• Rent vs Own: 78.8% rent · 21.2% own
• Severe rent burden: 8053.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 37% Hispanic / Latino 32% White 20% Two or more races 15% Asian 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Dominican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Hispanic 1%
• Foreign-born: 27% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 24% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 18.95%
• Current HPI: 597.7817
• Rent YoY: ▲ 5.15%
• 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

-26.3% since first listed

42 events — show timeline

• 2026-05-18 Price Changed $1,399,999 BNYMLS
• 2026-05-15 Price Changed $1,402,500 BNYMLS
• 2026-05-08 Price Changed $1,405,000 BNYMLS
• 2026-05-04 Price Changed $1,407,500 BNYMLS
• 2026-04-30 Price Changed $1,410,000 BNYMLS
• 2026-04-24 Price Changed $1,422,500 BNYMLS
• 2026-04-16 Price Changed $1,425,000 BNYMLS
• 2026-04-10 Price Changed $1,472,500 BNYMLS
• 2026-03-30 Price Changed $1,475,000 BNYMLS
• 2026-03-11 Price Changed $1,499,000 BNYMLS
• 2026-03-09 Price Changed $1,544,999 BNYMLS
• 2026-03-05 Price Changed $1,549,999 BNYMLS
• 2026-03-02 Price Changed $1,563,000 BNYMLS
• 2026-02-25 Price Changed $1,564,000 BNYMLS
• 2026-02-20 Price Changed $1,565,000 BNYMLS
• 2026-02-16 Price Changed $1,566,000 BNYMLS
• 2026-02-09 Price Changed $1,568,000 BNYMLS
• 2026-02-06 Price Changed $1,569,000 BNYMLS
• 2026-01-30 Price Changed $1,570,000 BNYMLS
• 2026-01-23 Price Changed $1,572,000 BNYMLS
• 2026-01-12 Price Changed $1,575,000 BNYMLS
• 2026-01-05 Price Changed $1,594,999 BNYMLS
• 2026-01-02 Price Changed $1,595,999 BNYMLS
• 2025-12-29 Price Changed $1,596,999 BNYMLS
• 2025-12-26 Price Changed $1,599,999 BNYMLS
• 2025-12-18 Price Changed $1,625,000 BNYMLS
• 2025-12-16 Price Changed $1,825,000 BNYMLS
• 2025-12-08 Price Changed $1,847,988 BNYMLS
• 2025-12-02 Price Changed $1,848,088 BNYMLS
• 2025-11-29 Price Changed $1,848,188 BNYMLS
• 2025-11-25 Price Changed $1,848,288 BNYMLS
• 2025-11-21 Price Changed $1,848,388 BNYMLS
• 2025-11-18 Price Changed $1,848,488 BNYMLS
• 2025-11-14 Price Changed $1,848,588 BNYMLS
• 2025-11-10 Price Changed $1,848,688 BNYMLS
• 2025-11-07 Price Changed $1,848,888 BNYMLS
• 2025-11-03 Price Changed $1,899,500 BNYMLS
• 2025-10-30 Price Changed $1,899,600 BNYMLS
• 2025-10-27 Price Changed $1,899,700 BNYMLS
• 2025-10-24 Price Changed $1,899,800 BNYMLS
• 2025-10-20 Price Changed $1,899,900 BNYMLS
• 2025-10-04 Listed $1,900,000 BNYMLS

Property tax history

+5.1%/yr

Latest (2025): $14,640 · +2.2% YoY. Source: county tax records.