517 Milford St · New York, NY 11208

$1,180,000

9 bd · 3.0 ba · 3,087 sqft · MultiFamily public records · 37 Days on market

Built 2006 2,100 sqft lot Est $1158k · at est.

---

Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +6.6/15.0
• DSCR +6.0/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This attached brick 3-family home in East New York offers the perfect combination of space, comfort, and flexibility for both investors and end users. The property features three stories over a finished basement, with the first-floor unit offering 2 bedrooms and 1 bathroom, while the second and third floors each feature 3 bedrooms and 1 bathroom. All units include a spacious living room, kitchen, and dining area—ideal for comfortable living or generating rental income. Built in 2006, the home remains modern and well-maintained, with separate gas and electric meters and individual boilers for each unit, allowing for convenient and efficient management. A community driveway at the rear provides multiple parking spaces, adding valuable convenience for residents and guests. Building size 21x49 over 21x100 lot. Located in a prime East New York residential area, the property is close to shopping, schools, parks, and restaurants. Enjoy excellent access to public transportation with nearby bus lines (B20, B15, B6, B84, BM5) and the New Lots Avenue station serving the 2, 3, 4, and 5 trains, offering a quick and easy commute throughout Brooklyn and beyond.

Key facts

• 2,100 sq ft lot
• Built 2006
• Listed 37 days

Property features AI

Finance

• Financial info: Tax year 2024

Exterior

• Parking: No carport; Other parking features
• Utilities: Sewer: Other; Utilities: See remarks
• Home design: Triplex; Total building area approximately 3,087 sq ft
• Construction: Brick building
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units; One 2-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units; Other heating
• Interior features: Finished full basement; Other interior features

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $1.18M.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $409/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.10M (6.7% below list).
• Recommended offer: $1.10M (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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 (+6.1%/yr); 192 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,012/mo this rent would consume 213% of the median local household income ($62k/yr) (locally 7574% 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 $8k of loan paydown is wiped out by about $35k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $749k; list at $1.18M implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $1,101,200 (6.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $1,157,625
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
369 Milford St	0.26mi	8/1.0 (-1)	3,198 (+4%)	5mo	$1,200,000	$375	65
1017 Dumont Ave	0.41mi	8/4.0 (-1)	3,116 (+1%)	17mo	$618,500	$198	57
301 Montauk Ave	0.37mi	8/3.0 (-1)	2,730 (-12%)	11mo	$985,000	$361	50
448 Ashford St #3	0.65mi	8/5.0 (-1)	2,970 (-4%)	3mo	$1,250,000	$421	48
1140 Sutter Ave	0.39mi	8/3.0 (-1)	3,420 (+11%)	19mo	$694,785	$203	43
390 Essex St	0.70mi	8/5.0 (-1)	2,812 (-9%)	8mo	$1,140,000	$405	32
306 Sheridan Ave	0.67mi	8/5.0 (-1)	2,652 (-14%)	19mo	$1,000,000	$377	16

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-77,438
• Equity at exit: $175,942

10-year hold

• IRR: 6.7%
• Equity multiple: 1.57×
• Total profit: $189,230
• Equity at exit: $102,025

Cash invested: $330,400 (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 11208

• Rents YoY: 6.1%
• Active inventory: 192
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $11,012 high
• Mortgage (P&I): −$6,188
• Tax from tax record: −$793 /mo · $9,514/yr
• Insurance: −$492
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,313
• Net cashflow: $1,227

Break-even live

Break-even rent $9,459

Max offer price $1,180,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$11,013
Total (3 units)			$11,012

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: $295,000
• Closing costs: $35,400
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-08
   statusdays on market $1,180,000 Pending 37 DOM
2. 2026-06-04
   days on market $1,180,000 Active 36 DOM
3. 2026-06-03
   days on market $1,180,000 Active 35 DOM
4. 2026-06-01
   days on market $1,180,000 Active 33 DOM
5. 2026-05-31
   days on market $1,180,000 Active 32 DOM
6. 2026-04-29
   listed $1,180,000 Active

   Show marketing remark (1170 chars)

   This attached brick 3-family home in East New York offers the perfect combination of space, comfort, and flexibility for both investors and end users. The property features three stories over a finished basement, with the first-floor unit offering 2 bedrooms and 1 bathroom, while the second and third floors each feature 3 bedrooms and 1 bathroom. All units include a spacious living room, kitchen, and dining area—ideal for comfortable living or generating rental income. Built in 2006, the home remains modern and well-maintained, with separate gas and electric meters and individual boilers for each unit, allowing for convenient and efficient management. A community driveway at the rear provides multiple parking spaces, adding valuable convenience for residents and guests. Building size 21x49 over 21x100 lot. Located in a prime East New York residential area, the property is close to shopping, schools, parks, and restaurants. Enjoy excellent access to public transportation with nearby bus lines (B20, B15, B6, B84, BM5) and the New Lots Avenue station serving the 2, 3, 4, and 5 trains, offering a quick and easy commute throughout Brooklyn and beyond.

7. 2026-04-29
   listed $1,180,000 Active 1170-char remark

   Show marketing remark (1170 chars)

   This attached brick 3-family home in East New York offers the perfect combination of space, comfort, and flexibility for both investors and end users. The property features three stories over a finished basement, with the first-floor unit offering 2 bedrooms and 1 bathroom, while the second and third floors each feature 3 bedrooms and 1 bathroom. All units include a spacious living room, kitchen, and dining area—ideal for comfortable living or generating rental income. Built in 2006, the home remains modern and well-maintained, with separate gas and electric meters and individual boilers for each unit, allowing for convenient and efficient management. A community driveway at the rear provides multiple parking spaces, adding valuable convenience for residents and guests. Building size 21x49 over 21x100 lot. Located in a prime East New York residential area, the property is close to shopping, schools, parks, and restaurants. Enjoy excellent access to public transportation with nearby bus lines (B20, B15, B6, B84, BM5) and the New Lots Avenue station serving the 2, 3, 4, and 5 trains, offering a quick and easy commute throughout Brooklyn and beyond.

8. 2025-12-10
   status Pending
9. 2025-12-10
   historical
10. 2025-10-23
    listed $1,099,000 Active
11. 2006-12-04
    soldstatus $749,000
12. 2006-12-04
    soldstatus $749,000

ⓘ 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: $9,514 · $793/mo
• Projected year-2 tax: $14,728 · $1,227/mo
• Expected delta: +$5,214/yr (+$434/mo · 54.8%)

ⓘ 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) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $132,144
• − Mortgage interest: −$66,098
• − Property taxes: −$9,514
• − Insurance: −$5,900
• − Repairs & maintenance: −$10,572
• − Management: −$10,572
• − Depreciation: −$34,327
• Taxable loss: −$4,839
• Est. tax savings @ 24.0%: +$1,161
• After-tax cash flow: $15,884/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+57.5% since first listed

7 events — show timeline

• 2026-04-29 Listed $1,180,000 BNYMLS
• 2026-04-29 Listed $1,180,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Listed $1,099,000 OneKey® MLS as Distributed by MLS Grid
• 2006-12-04 Sold (Public Records) $749,000 Public Records
• 2006-12-04 Sold (Public Records) $749,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $9,514 · +3.4% YoY. Source: county tax records.