751 Targee St · New York, NY 10304

$699,999

6 bd · 6.0 ba · 1,272 sqft · MultiFamily public records · 16 Days on market

Built 1915 2,963 sqft lot Est $757k · 8% under ↓ 3% since listing

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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 +11.4/30.0
• ARV discount +10.9/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Welcome to this charming two-family detached home located in the Clifton area of Staten Island. Built in 1915, this historic property includes a beautifully renovated first-floor kitchen completed in 2022, featuring sleek granite countertops and chandelier in dining area. The main unit offers 3 bedrooms, 3 bathrooms (1 full and 2 three-quarter), providing ample space for comfortable living. The second unit includes 1 bedroom, a cozy living room, a kitchen/dining combo, and a full bathroom, making it ideal for rental income. Conveniently situated near a new shopping plaza, this home is priced reasonably, offering both charm and practicality in a prime Staten Island location.

Key facts

• Cozy living room
• Granite countertops
• Kitchen dining combo

Tags

• RENOVATED FIRST-FLOOR KITCHEN
• GRANITE COUNTERTOPS
• CHANDELIER IN DINING AREA
• COZY LIVING ROOM
• KITCHEN DINING COMBO
• PRIME STATEN ISLAND LOCATION

Property features AI

Exterior

• Parking: Off-street parking available; On-street parking available; No attached garage
• Utilities: 220 volt electric service
• Home design: Multifamily property with 2 units; 3 stories
• Construction: Brick construction; Year built listed as approximate
• Exterior features: Brick exterior; Lot approximately 0.07 acres (38 x 78); Zoned R3A

Interior

• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 1 bedroom on level 2
• Bathrooms: Total of 3 bathrooms (1 full, 2 three-quarter)
• Heating & cooling: Natural gas heating; Hot water heating
• Interior features: Good overall condition; Three-story building

What this means for you Summary

Snapshot

• This is a 1×3bd/3.0ba + 1×1bd/1.0ba units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $-240 ($-3k/yr) — negative. Per door: $-120/mo.
• To cash-flow at today's rent, offer at most $658k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $514k (26.6% below list).
• Recommended offer: $514k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+2.0%/yr); 204 active listings in the ZIP; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,137/mo this rent would consume 86% of the median local household income ($72k/yr) (locally 2401% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 1915 — 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 $513,700 (26.6% 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. 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.73% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $756,840
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Richmond Rd	0.21mi	5/4.0 (-1)	1,458 (+15%)	0mo	$868,000	$595	52

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 · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-134,125
• Equity at exit: $104,372

10-year hold

• IRR: -14.7%
• Equity multiple: 0.19×
• Total profit: $-158,274
• Equity at exit: $60,523

Cash invested: $196,000 (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 10304

• Rents YoY: 2.0%
• Active inventory: 204
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $5,137 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$335 /mo · $4,026/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,079
• Net cashflow: $-240

Break-even live

Break-even rent $5,441

Max offer price $657,638

Occupancy floor 100%

Sensitivity live

Price	-10% $156	-5% $-42	+0% $-240	+5% $-438	+10% $-636
Rent	-10% $-646	-5% $-443	+0% $-240	+5% $-37	+10% $166
Rate	-1.0pp $113	-0.5pp $-62	base $-240	+0.5pp $-421	+1.0pp $-606

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

Units	Beds	Baths	Est. rent
1× unit	3	3	$2,875
1× unit	1	1	$2,263
Total (2 units)			$5,137

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-13
   status Pending
2. 2026-04-27
   listed $699,999 Active
3. 2024-12-02
   status Pending
4. 2024-12-02
   historical
5. 2024-10-29
   historical Contingent
6. 2024-10-22
   listed $719,000 Active

ⓘ 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: $4,026 · $335/mo
• Projected year-2 tax: $7,928 · $661/mo
• Expected delta: +$3,902/yr (+$325/mo · 96.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°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: $61,644
• − Mortgage interest: −$39,211
• − Property taxes: −$4,026
• − Insurance: −$3,500
• − Repairs & maintenance: −$4,932
• − Management: −$4,932
• − Depreciation: −$20,364
• Taxable loss: −$15,319
• Est. tax savings @ 24.0%: +$3,677
• After-tax cash flow: $799/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 45,658
• Household income: $71,561
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2401.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 25% Hispanic / Latino 24% Asian 13% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Scotch-Irish 3% Romanian 2% Swiss 2%
• Foreign-born: 32% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 16% Chinese 8% Other Indo-European 5%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -254.93%
• Current HPI: 346.7976
• Rent YoY: ▲ 1.99%
• 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

-2.6% since first listed

6 events — show timeline

• 2026-05-13 Pending — SIBORMLS
• 2026-04-27 Listed $699,999 SIBORMLS
• 2024-12-02 Pending — SIBORMLS
• 2024-12-02 Listing Removed — SIBORMLS
• 2024-10-29 Contingent — SIBORMLS
• 2024-10-22 Listed $719,000 SIBORMLS

Property tax history

+17.2%/yr

Latest (2025): $4,026 · +6.0% YoY. Source: county tax records.