2346 82nd St · New York, NY 11214

$1,388,000

60 bd · 36.0 ba · 4,380 sqft · MultiFamily · 309 Days on market

Built 1922 2,000 sqft lot

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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: 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

This prime 6-family brick building, located in a highly desirable neighborhood, offers a rare investment opportunity with strong current and future income potential. Featuring 4 spacious two-bedroom units and 2 comfortable one-bedroom units, the property is well-maintained throughout and currently generates approximately $115,000 in annual income, with two vacant apartments ready for immediate occupancy or rental to boost returns. With its solid condition, sought-after location, and income upside, this property is an exceptional find that won’t last!

Key facts

• 2,000 sq ft lot
• Built 1922
• Listed 309 days

Property features AI

Finance

• Other: Building footprint approximately 1,460 sq ft; Building dimensions approximately 73.00 x 20.00; Total building area reported as 4,380; Zoning: R5; Basement with separate entrance and unfinished space
• Financial info: Financing considered: exchange, bank mortgage, or cash

Exterior

• Parking: No designated parking
• Utilities: Electric: 110V and 220V with circuit breakers; Hot water: Gas; Heating fuel: Gas
• Home design: Attached building; Residential property; Flat roof
• Construction: Brick exterior; Poured concrete foundation
• Exterior features: Front yard; Back yard; Side yard

Interior

• Kitchen: Includes refrigerator and stove
• Bedrooms: Total rooms: 22
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: 6 full bathrooms
• Heating & cooling: Steam/radiator heat
• Interior features: Refrigerator; Stove
• Laundry & utility: No AC units

What this means for you Summary

Snapshot

• This is a 4×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $1.39M.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive. Per door: $815/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.39M).
• Recommended offer: $1.22M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+5.9%/yr); 330 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $18,331/mo this rent would consume 334% of the median local household income ($66k/yr) (locally 6028% 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 $10k of loan paydown is wiped out by about $42k 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 + 5.9% rent growth), your $389k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 309 days — a 12% lower offer ($1.22M) is reasonable based on typical stale-listing flexibility.
• 5 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

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,221,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 309 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 1922 — 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: 1.32% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.10%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.36×
• Total profit: $141,218
• Equity at exit: $206,955

10-year hold

• IRR: 20.4%
• Equity multiple: 2.96×
• Total profit: $762,086
• Equity at exit: $120,009

Cash invested: $388,640 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 36.7×

Monthly cashflow live

• Estimated rent: $18,331 medium
• Mortgage (P&I): −$7,279
• Tax est. 1.5%: −$1,735 /mo · $20,820/yr
• Insurance: −$578
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,850
• Net cashflow: $4,889

Break-even live

Break-even rent $12,142

Max offer price $1,388,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$12,620
▸ 2× units	1	1	$5,712
Total (6 units)			$18,331

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: $347,000
• Closing costs: $41,640
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $1,388,000 Active 309 DOM
2. 2026-06-17
   days on market $1,388,000 Active 308 DOM
3. 2026-06-15
   days on market $1,388,000 Active 306 DOM
4. 2026-06-13
   days on market $1,388,000 Active 304 DOM
5. 2026-06-10
   days on market $1,388,000 Active 300 DOM
6. 2026-06-08
   days on market $1,388,000 Active 299 DOM
7. 2026-06-03
   days on market $1,388,000 Active 294 DOM
8. 2026-06-01
   days on market $1,388,000 Active 292 DOM
9. 2026-05-31
   days on market $1,388,000 Active 291 DOM
10. 2025-11-24
    price $1,388,000
11. 2025-08-21
    price $1,499,000
12. 2025-08-13
    listed $1,399,000 Active
13. 2018-12-28
    historical
14. 2018-09-25
    listed $1,790,000 New
15. 2016-02-17
    historical
16. 2012-02-06
    listed $720,000
17. 2007-01-09
    listed $830,000
18. 2006-05-31
    historical
19. 2006-04-01
    listed $875,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 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: $219,972
• − Mortgage interest: −$77,750
• − Property taxes: −$20,820
• − Insurance: −$6,940
• − Repairs & maintenance: −$17,598
• − Management: −$17,598
• − Depreciation: −$40,378
• Taxable income: $38,889
• Est. tax owed @ 24.0%: −$9,333
• After-tax cash flow: $49,339/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

+58.6% since first listed

10 events — show timeline

• 2025-11-24 Price Changed $1,388,000 BNYMLS
• 2025-08-21 Price Changed $1,499,000 BNYMLS
• 2025-08-13 Listed $1,399,000 BNYMLS
• 2018-12-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-25 Listed $1,790,000 OneKey® MLS as Distributed by MLS Grid
• 2016-02-17 Listing Removed — SIBORMLS
• 2012-02-06 Listed $720,000 BNYMLS
• 2007-01-09 Listed $830,000 SIBORMLS
• 2006-05-31 Listing Removed — SIBORMLS
• 2006-04-01 Listed $875,000 SIBORMLS