75-77 Kreischer St · New York, NY 10309

$459,000

4 bd · 4.0 ba · 1,440 sqft · MultiFamily · 181 Days on market

Built 1920 9,800 sqft lot

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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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 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: 2 units. confirmed

Listing remarks

Welcome to Kreischer St! This side-by-side, 2 family, Hanyman Special, detached home sits on over 9,800 sq ft of M1-1 land that is prime for high density retail, manufacturing, and/or hotel development, or even commercial parking! An investor can refurbish the land-marked house to not only generate additional investment income, but can also lease out parking space. This prime location provides convenient access to the Korean War Veterans Parkway, the West Shore Expressway, the Staten Island Expressway, the Outerbridge Crossing, the New Jersey Turnpike and the Garden State Parkway, as well as access to nearby public transportation, making it a highly desirable location. The house has 'landma

Key facts

• Land-marked houses
• Landmark status
• Convenient access

Tags

• M1-1 ZONING
• SRD DISTRICT
• LAND-MARKED HOUSES
• PRIME LOCATION
• CONVENIENT ACCESS
• LANDMARK STATUS

Property features AI

Finance

• Financial info: Two total units (multifamily); Previous list price shown

Exterior

• Parking: On-street parking (no attached garage)
• Utilities: Electric: 110V; Sewer: Cesspool
• Home design: Two-story multifamily building; Total building area reported as 1,440
• Construction: Aluminum siding construction; Year built listed as approximate
• Exterior features: Aluminum siding; Lot measures approximately 50 x 196 (0.23 acres); Zoned M-1-1; Property condition listed as poor

Interior

• Bedrooms: Unit 1: 2 bedrooms (level 1); Unit 2: 2 bedrooms (level 2)
• Bathrooms: Total of 4 bathrooms (2 full, 2 three-quarter)
• Heating & cooling: Natural gas hot water heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $459k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive. Per door: $402/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $459k).
• Recommended offer: $404k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 (+21.6%/yr); 209 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,034/mo this rent would consume 52% of the median local household income ($116k/yr) (locally 1051% 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 $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $129k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($404k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $403,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1920 — 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: 1.10% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $3,561
• Equity at exit: $68,438

10-year hold

• IRR: 14.9%
• Equity multiple: 2.48×
• Total profit: $190,497
• Equity at exit: $39,686

Cash invested: $128,520 (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 10309

• Rents YoY: 21.6%
• Active inventory: 209
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $5,034 medium
• Mortgage (P&I): −$2,407
• Tax est. 1.5%: −$574 /mo · $6,885/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,057
• Net cashflow: $805

Break-even live

Break-even rent $4,015

Max offer price $459,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$5,034
Total (2 units)			$5,034

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Darnell Ln Staten Island, NY	3.0	1.5	1408	$3,300	$2.34	19d	1	0.86mi
6343 Amboy Rd Unit 3 Staten Island, NY	3.0	1.0	1081	$3,400	$3.15	3d	1	1.44mi

Listing history 10 events

1. 2026-06-13
   statusdays on market $459,000 Pending 181 DOM
2. 2026-06-10
   days on market $459,000 Active 179 DOM
3. 2026-06-08
   days on market $459,000 Active 178 DOM
4. 2026-06-04
   days on market $459,000 Active 174 DOM
5. 2026-06-03
   days on market $459,000 Active 173 DOM
6. 2026-06-01
   days on market $459,000 Active 171 DOM
7. 2026-05-31
   days on market $459,000 Active 170 DOM
8. 2026-04-03
   price $459,000
9. 2026-02-02
   price $629,000
10. 2025-12-12
    listed $1,999,999 Active

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $60,408
• − Mortgage interest: −$25,711
• − Property taxes: −$6,885
• − Insurance: −$2,295
• − Repairs & maintenance: −$4,833
• − Management: −$4,833
• − Depreciation: −$13,353
• Taxable income: $2,499
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $9,058/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): 34,885
• Household income: $116,098
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 1051.0

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: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Asian 4% Two or more races 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Subsaharan African 3% Scotch-Irish 3%
• Foreign-born: 18% · Canada, China, South Korea
• Languages at home: 75% English-only · Russian/Polish/Slavic 8% Spanish 6% 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: ▼ -324.51%
• Current HPI: 308.0457
• Rent YoY: ▲ 21.58%
• 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

-77.0% since first listed

3 events — show timeline

• 2026-04-03 Price Changed $459,000 SIBORMLS
• 2026-02-02 Price Changed $629,000 SIBORMLS
• 2025-12-12 Listed $1,999,999 SIBORMLS