578 Williams Ave · New York, NY 11207

$585,000

None bd · None ba · 3,120 sqft · MultiFamily public records · 350 Days on market

Built 1930 2,500 sqft lot Est $995k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

Brick semi-attached 4 family home within walking distance of 3,L trains. Opportunity to purchase this occupied home below the market. Buyer will be buy without interior access and subject to any and all violations. Believe to be 4 units total but buyer will not have interior access at anytime. Cash purchase only. See attachment for PAS requirements and WFHM offer submittal information in MLS document section. Please submit all offers with Proof of Funds. Cash only. to the listing broker/agent. To report any concerns with a listing broker/agent, or to report any property condition or other concern needing escalation (including concerns related to a previously submitted offer), please call

Key facts

• 2,500 sq ft lot
• Built 1930
• Listed 350 days

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $585k.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $585k).
• Recommended offer: $515k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.6% 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 (+5.3%/yr); 251 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,541/mo this rent would consume 309% of the median local household income ($57k/yr) (locally 7510% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 + 5.3% rent growth), your $164k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 350 days — a 12% lower offer ($515k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $140k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $350k; list at $585k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $514,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 350 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. 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: 2.49% ✓
• Cap rate: 21.63%
• Cash-on-cash: 54.76%
• DSCR: 3.44
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $995,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
582 Williams Ave	0.00mi	8/4.0	3,120 (0%)	2mo	$990,000	$317	98
576 Williams Ave	0.01mi	11/8.0	3,120 (0%)	7mo	$1,325,000	$425	94
626 Blake Ave	0.42mi	5/3.0	3,126 (+0%)	8mo	$925,000	$296	73
712 Snediker Ave	0.31mi	7/5.0	3,120 (0%)	17mo	$995,000	$319	71
504 Vermont St	0.44mi	5/3.0	3,000 (-4%)	3mo	$810,000	$270	71
593 Bradford St	0.44mi	7/4.0	3,198 (+2%)	8mo	$1,000,000	$313	69
637 Blake Ave	0.45mi	5/3.0	2,922 (-6%)	4mo	$935,000	$320	65
421 New Lots Ave	0.28mi	2/2.0	2,856 (-8%)	10mo	$700,000	$245	64
664 New Jersey Ave	0.26mi	5/3.0	2,700 (-14%)	3mo	$641,000	$237	63
797 Vermont St	0.43mi	13/4.0	3,360 (+8%)	7mo	$1,210,000	$360	61
654 Schenck Ave	0.60mi	7/3.0	3,250 (+4%)	7mo	$1,100,000	$338	59
758 Livonia Ave	0.52mi	8/4.0	2,775 (-11%)	20mo	$965,000	$348	41

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 55.6%
• Equity multiple: 3.54×
• Total profit: $415,768
• Equity at exit: $87,225

10-year hold

• IRR: 61.5%
• Equity multiple: 7.86×
• Total profit: $1,123,280
• Equity at exit: $50,580

Cash invested: $163,800 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $14,541 medium
• Mortgage (P&I): −$3,068
• Tax from tax record: −$701 /mo · $8,409/yr
• Insurance: −$244
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,054
• Net cashflow: $7,475

Break-even live

Break-even rent $5,079

Max offer price $585,000

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$14,540
Total (4 units)			$14,541

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: $146,250
• Closing costs: $17,550
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2024-10-16
   status Pending
2. 2024-06-04
   status Active
3. 2024-06-04
   price $585,000
4. 2024-02-09
   status Pending
5. 2023-11-17
   price $625,000
6. 2023-09-24
   status Active
7. 2023-07-04
   status Pending
8. 2023-04-18
   listed $724,900 Active
9. 2018-08-15
   historical
10. 2018-05-07
    status Under Contract
11. 2018-04-17
    listed $530,000 New
12. 2006-04-26
    soldstatus $350,000

ⓘ 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: $8,409 · $701/mo
• Projected year-2 tax: $9,148 · $762/mo
• Expected delta: +$739/yr (+$62/mo · 8.8%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $174,492
• − Mortgage interest: −$32,769
• − Property taxes: −$8,409
• − Insurance: −$2,925
• − Repairs & maintenance: −$13,959
• − Management: −$13,959
• − Depreciation: −$17,018
• Taxable income: $85,452
• Est. tax owed @ 24.0%: −$20,509
• After-tax cash flow: $69,193/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+67.1% since first listed

12 events — show timeline

• 2024-10-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-06-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-06-04 Price Changed $585,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-11-17 Price Changed $625,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-07-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-18 Listed $724,900 OneKey® MLS as Distributed by MLS Grid
• 2018-08-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-04-17 Listed $530,000 OneKey® MLS as Distributed by MLS Grid
• 2006-04-26 Sold (Public Records) $350,000 Public Records

Property tax history

+5.3%/yr

Latest (2024): $8,409 · +10.0% YoY. Source: county tax records.