9 Somers St · New York, NY 11233

$1,374,999

6 bd · 3.0 ba · 2,808 sqft · MultiFamily public records · 105 Days on market

Built 1899 1,480 sqft lot Est $1014k · 36% over

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Why this score? — see what drove the D 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 +12.7/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Excellent opportunity to acquire a well-maintained three-family mixed-use property in Brooklyn. The building features three residential units plus office space, making it an ideal investment for both owner-users and income-focused investors. The office space will be delivered vacant at closing, providing flexibility for a new business, professional office use, or potential leasing opportunity. The residential units are currently configured as follows: • 1st Floor Apartment: 1 bedroom / 1 bathroom – $2,762/month • 2nd Floor Apartment: $2,395/month • 3rd Floor Apartment: $3,100/month The building measures approximately 18.5 ftx45 ft, offering efficient layouts and stron

Key facts

• Office space
• Residential units
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• OFFICE SPACE
• RESIDENTIAL UNITS
• FLEXIBILITY FOR NEW BUSINESS
• STRONG RENTAL POTENTIAL
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Public trash collection; Water connected
• Home design: Triplex property
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront; No additional parcels

Interior

• Bedrooms: Two 3-bedroom units and one 1-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Wall/Window air conditioning units
• Interior features: Entrance foyer; Finished full basement (no separate basement level listed)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.37M.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative. Per door: $-48/mo.
• To cash-flow at today's rent, offer at most $1.35M (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.01M (26.9% below list).
• Recommended offer: $1.01M (26.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: Rents rising fast (+6.4%/yr); 152 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,051/mo this rent would consume 193% of the median local household income ($62k/yr) (locally 6960% 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 $147k of equity ($10k loan paydown + $138k appreciation (10.0% 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 ~$236k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($1.25M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y 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 $1.12M; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 39% 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 $1,005,100 (26.9% 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 105 days. Have you received any prior offers? Is the seller open to a 27% 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 1899 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.73% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $1,013,688
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1319 Herkimer St	0.20mi	6/4.0	2,910 (+4%)	5mo	$522,500	$180	76
14 Marconi Pl	0.11mi	6/3.0	2,661 (-5%)	15mo	$960,000	$361	74
737 Decatur St	0.36mi	7/2.0 (+1)	2,700 (-4%)	6mo	$1,162,000	$430	63
699 Decatur St	0.36mi	5/3.0 (-1)	2,700 (-4%)	12mo	$1,350,000	$500	62
76 Aberdeen St	0.53mi	6/4.0	2,642 (-6%)	11mo	$1,300,000	$492	52
657 Evergreen	0.63mi	5/3.0 (-1)	2,850 (+2%)	14mo	$975,000	$342	52
1332 Saint Marks Ave	0.69mi	7/3.0 (+1)	3,120 (+11%)	7mo	$818,888	$262	39

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

Projected returns pro-forma

10.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 3.01×
• Total profit: $775,040
• Equity at exit: $1,238,708

10-year hold

• IRR: 22.8%
• Equity multiple: 7.16×
• Total profit: $2,371,950
• Equity at exit: $2,671,321

Cash invested: $385,000 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 34.2×

Monthly cashflow live

• Estimated rent: $10,051 high
• Mortgage (P&I): −$7,211
• Tax from tax record: −$299 /mo · $3,593/yr
• Insurance: −$573
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,111
• Net cashflow: $-143

Break-even live

Break-even rent $10,232

Max offer price $1,349,792

Occupancy floor 96%

Sensitivity live

Price	-10% $636	-5% $246	+0% $-143	+5% $-532	+10% $-921
Rent	-10% $-937	-5% $-540	+0% $-143	+5% $254	+10% $651
Rate	-1.0pp $550	-0.5pp $207	base $-143	+0.5pp $-499	+1.0pp $-861

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$10,050
Total (3 units)			$10,051

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: $343,750
• Closing costs: $41,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $1,374,999 Active 105 DOM
2. 2026-06-17
   days on market $1,374,999 Active 104 DOM
3. 2026-06-15
   days on market $1,374,999 Active 102 DOM
4. 2026-06-13
   days on market $1,374,999 Active 100 DOM
5. 2026-06-10
   days on market $1,374,999 Active 96 DOM
6. 2026-06-08
   days on market $1,374,999 Active 95 DOM
7. 2026-06-08
   days on market $1,374,999 Active 94 DOM
8. 2026-06-04
   days on market $1,374,999 Active 91 DOM
9. 2026-06-03
   days on market $1,374,999 Active 90 DOM
10. 2026-06-01
    days on market $1,374,999 Active 88 DOM
11. 2026-05-31
    days on market $1,374,999 Active 87 DOM
12. 2026-04-13
    price $1,374,999
13. 2026-03-05
    listed $1,399,999 Active
14. 2022-12-13
    soldstatus $1,124,000
15. 2022-06-30
    listed $1,275,000 Active
16. 2022-03-15
    listed $1,275,000 Active
17. 2021-08-13
    price $1,377,000
18. 2021-06-24
    price $1,397,000
19. 2021-06-04
    listed $1,377,000 Active
20. 2021-06-04
    listed $1,488,000 Active
21. 2019-09-09
    historical
22. 2019-08-13
    price $1,275,000
23. 2019-08-04
    price $1,350,000
24. 2019-06-25
    listed $1,450,000 New
25. 2005-08-23
    soldstatus $217,019
26. 2000-02-03
    soldstatus $195,000
27. 1999-04-21
    listed $199,000

ⓘ 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: $3,593 · $299/mo
• Projected year-2 tax: $13,415 · $1,118/mo
• Expected delta: +$9,822/yr (+$819/mo · 273.4%)

ⓘ 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 39% 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: $120,612
• − Mortgage interest: −$77,021
• − Property taxes: −$3,593
• − Insurance: −$6,875
• − Repairs & maintenance: −$9,649
• − Management: −$9,649
• − Depreciation: −$40,000
• Taxable loss: −$26,175
• Est. tax savings @ 24.0%: +$6,282
• After-tax cash flow: $4,570/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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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: Predominantly Black (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

+591.0% since first listed

16 events — show timeline

• 2026-04-13 Price Changed $1,374,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $1,399,999 OneKey® MLS as Distributed by MLS Grid
• 2022-12-13 Sold (Public Records) $1,124,000 Public Records
• 2022-06-30 Listed $1,275,000 RLS at REBNY
• 2022-03-15 Listed $1,275,000 RLS at REBNY
• 2021-08-13 Price Changed $1,377,000 RLS at REBNY
• 2021-06-24 Price Changed $1,397,000 RLS at REBNY
• 2021-06-04 Listed $1,488,000 RLS at REBNY
• 2021-06-04 Listed $1,377,000 RLS at REBNY
• 2019-09-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-08-13 Price Changed $1,275,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-04 Price Changed $1,350,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-25 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid
• 2005-08-23 Sold (Public Records) $217,019 Public Records
• 2000-02-03 Sold (Public Records) $195,000 Public Records
• 1999-04-21 Listed $199,000 BNYMLS

Property tax history

+4.7%/yr

Latest (2025): $3,593 · +3.0% YoY. Source: county tax records.