3711 Sea Gate Ave · New York, NY 11224

$1,050,000

8 bd · 4.0 ba · 2,737 sqft · MultiFamily public records · 119 Days on market

Built 1930 4,000 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Excellent investment opportunity in Sea Gate. We offer a two story walk up, 4 family detached building with 4-two bedroom apartments, with a full size basement, backyard and three parking spaces. House is in excellent condition. New kitchen appliances, new roof, window, new heater.

Key facts

• Convenient access
• Natural light
• Fully-detached home

Tags

• FULLY-DETACHED HOME
• HIGH CEILINGS
• NATURAL LIGHT
• PRIVACY AND SECURITY
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Four-unit multi-family property (4 total units)
• Financial info: Rental income reported: 60000; Utility expense reported; Financing options considered: Exchange, Bank Mortgage, Cash

Exterior

• Parking: Private drive; Detached garage with 3 parking spaces
• Utilities: 110V electric service; Gas service; Steam/radiator heating system; Hot water coil in boiler
• Home design: Detached building; Residential property
• Construction: Block construction; Brick exterior; Asphalt/Tar roof; Block foundation; Building footprint approximately 57.00 x 24.00
• Exterior features: Back yard

Interior

• Kitchen: Oven/Range in each unit; Refrigerator in each unit; Appliances included with units
• Bedrooms: Four 2-bedroom units (each unit has 2 bedrooms) — Units on floors 1 and 2
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Four full bathrooms (each unit has 1 full bath)
• Heating & cooling: Gas heating; Steam/radiator heat delivery; Hot water coil in boiler
• Interior features: Window A/C units (4); Garage door opener; Window treatments; Other interior features noted; Finished basement
• Laundry & utility: Water included for each unit

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.05M).
• Recommended offer: $956k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 (+7.0%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $15,720/mo this rent would consume 432% of the median local household income ($44k/yr) (locally 4426% 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 $60k of equity ($7k loan paydown + $52k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $294k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$96k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($956k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $150k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $710k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% 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 $955,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.50% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 34.7%
• Equity multiple: 3.21×
• Total profit: $650,086
• Equity at exit: $593,873

10-year hold

• IRR: 35.0%
• Equity multiple: 7.20×
• Total profit: $1,822,841
• Equity at exit: $1,023,997

Cash invested: $294,000 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $15,720 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$1,094 /mo · $13,126/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,301
• Net cashflow: $5,381

Break-even live

Break-even rent $8,908

Max offer price $1,050,000

Occupancy floor 61%

Sensitivity live

Price	-10% $5,976	-5% $5,678	+0% $5,381	+5% $5,084	+10% $4,787
Rent	-10% $4,139	-5% $4,760	+0% $5,381	+5% $6,002	+10% $6,623
Rate	-1.0pp $5,910	-0.5pp $5,648	base $5,381	+0.5pp $5,109	+1.0pp $4,832

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$15,720
Total (4 units)			$15,720

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $1,050,000 Active 119 DOM
2. 2026-06-17
   days on market $1,050,000 Active 118 DOM
3. 2026-06-15
   days on market $1,050,000 Active 116 DOM
4. 2026-06-13
   days on market $1,050,000 Active 114 DOM
5. 2026-06-10
   days on market $1,050,000 Active 110 DOM
6. 2026-06-08
   days on market $1,050,000 Active 109 DOM
7. 2026-06-04
   days on market $1,050,000 Active 105 DOM
8. 2026-06-03
   days on market $1,050,000 Active 104 DOM
9. 2026-06-01
   days on market $1,050,000 Active 102 DOM
10. 2026-05-31
    days on market $1,050,000 Active 101 DOM
11. 2026-04-09
    price $1,050,000
12. 2026-02-19
    listed $1,200,000 Active
13. 2020-04-15
    soldstatus $710,000 Sold 282-char remark

    Show marketing remark (282 chars)

    Excellent investment opportunity in Sea Gate. We offer a two story walk up, 4 family detached building with 4-two bedroom apartments, with a full size basement, backyard and three parking spaces. House is in excellent condition. New kitchen appliances, new roof, window, new heater.

14. 2015-04-14
    historical 282-char remark

    Show marketing remark (282 chars)

    Excellent investment opportunity in Sea Gate. We offer a two story walk up, 4 family detached building with 4-two bedroom apartments, with a full size basement, backyard and three parking spaces. House is in excellent condition. New kitchen appliances, new roof, window, new heater.

15. 2014-07-16
    soldstatus $710,000
16. 2013-10-07
    listed $835,000 282-char remark

    Show marketing remark (282 chars)

    Excellent investment opportunity in Sea Gate. We offer a two story walk up, 4 family detached building with 4-two bedroom apartments, with a full size basement, backyard and three parking spaces. House is in excellent condition. New kitchen appliances, new roof, window, new heater.

17. 1994-11-02
    soldstatus $160,000

ⓘ 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: $13,126 · $1,094/mo
• Projected year-2 tax: $15,435 · $1,286/mo
• Expected delta: +$2,310/yr (+$192/mo · 17.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 50% 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 8/10 Severe 80% 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: $188,640
• − Mortgage interest: −$58,816
• − Property taxes: −$13,126
• − Insurance: −$5,250
• − Repairs & maintenance: −$15,091
• − Management: −$15,091
• − Depreciation: −$30,545
• Taxable income: $50,720
• Est. tax owed @ 24.0%: −$12,173
• After-tax cash flow: $52,401/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+556.2% since first listed

7 events — show timeline

• 2026-04-09 Price Changed $1,050,000 BNYMLS
• 2026-02-19 Listed $1,200,000 BNYMLS
• 2020-04-15 Sold (MLS) $710,000 BNYMLS
• 2015-04-14 Delisted — BNYMLS
• 2014-07-16 Sold (Public Records) $710,000 Public Records
• 2013-10-07 Listed $835,000 BNYMLS
• 1994-11-02 Sold (Public Records) $160,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $13,126 · +2.2% YoY. Source: county tax records.