177 Java St · New York, NY 11222

$3,150,000

8 bd · 3.0 ba · 3,000 sqft · MultiFamily public records · 83 Days on market

Built 1915 2,500 sqft lot

---

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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

We are proud to present 177 Java Street in the heart of Greenpoint. Rare opportunity to acquire a 25-foot-wide, three-unit property in prime Greenpoint with strong income and value-add potential. Located on a desirable tree-lined street just off Manhattan Avenue, the building is one block from the G train and two blocks from the Greenpoint waterfront, offering excellent rental appeal and long-term appreciation. The property consists of three residential units: a two bedroom on the first floor, and two Three-bedroom units on the upper floors-well-suited for maximizing rental income in today's work-from-home environment. A fully finished basement includes laundry and additional space for sto

Key facts

• Three unit property
• Tree lined street
• 2,500 sq ft lot

Tags

• THREE UNIT PROPERTY
• TREE LINED STREET
• ONE BLOCK FROM G TRAIN
• TWO BLOCKS FROM WATERFRONT
• FULLY FINISHED BASEMENT
• ADDITIONAL SPACE FOR STORAGE

Property features AI

Finance

• Other: Property contains 3 total units
• Financial info: Annual tax amount noted

Exterior

• Home design: 3 stories; Entry level: 1
• Construction: Zoning: R6B
• Exterior features: Green building

Interior

• Bedrooms: Total rooms: 14 (includes bedrooms and living spaces)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Cooling present
• Interior features: Smoke-free property; Basement present (other type)
• Laundry & utility: Washer hookup; Building-level laundry other feature

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $3.15M.

Deal economics

• At list price, monthly cash flow is $-4k ($-48k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.57M (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.25M (28.5% below list).
• Recommended offer: $2.25M (28.5% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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 (+1.0%/yr); 105 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $22,522/mo this rent would consume 215% of the median local household income ($126k/yr) (locally 3139% 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 $337k of equity ($22k loan paydown + $315k 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 ~$541k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($2.96M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $200k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $2,252,200 (28.5% 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 83 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.71% ✗
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.61×
• Total profit: $1,418,642
• Equity at exit: $2,837,770

10-year hold

• IRR: 17.8%
• Equity multiple: 5.87×
• Total profit: $4,295,253
• Equity at exit: $6,119,757

Cash invested: $882,000 (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 11222

• Home prices YoY: 2.9%
• Rents YoY: 1.0%
• Active inventory: 105
• Price-to-rent: 37.9×

Monthly cashflow live

• Estimated rent: $22,522 high
• Mortgage (P&I): −$16,519
• Tax est. 1.5%: −$3,938 /mo · $47,250/yr
• Insurance: −$1,312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,730
• Net cashflow: $-3,977

Break-even live

Break-even rent $27,556

Max offer price $2,574,585

Occupancy floor —

Sensitivity live

Price	-10% $-1,800	-5% $-2,888	+0% $-3,977	+5% $-5,065	+10% $-6,153
Rent	-10% $-5,756	-5% $-4,866	+0% $-3,977	+5% $-3,087	+10% $-2,197
Rate	-1.0pp $-2,390	-0.5pp $-3,175	base $-3,977	+0.5pp $-4,793	+1.0pp $-5,623

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$6,922
▸ 2× units	3	1	$15,600
Total (3 units)			$22,522

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: $787,500
• Closing costs: $94,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $3,150,000 Active 83 DOM
2. 2026-06-18
   days on market $3,150,000 Active 80 DOM
3. 2026-06-17
   days on market $3,150,000 Active 79 DOM
4. 2026-06-15
   days on market $3,150,000 Active 77 DOM
5. 2026-06-13
   pricedays on market $3,150,000 Active 75 DOM
6. 2026-06-10
   days on market $3,350,000 Active 71 DOM
7. 2026-06-08
   days on market $3,350,000 Active 70 DOM
8. 2026-06-08
   days on market $3,350,000 Active 69 DOM
9. 2026-06-04
   days on market $3,350,000 Active 66 DOM
10. 2026-06-03
    days on market $3,350,000 Active 65 DOM
11. 2026-06-01
    days on market $3,350,000 Active 63 DOM
12. 2026-05-31
    days on market $3,350,000 Active 62 DOM
13. 2026-03-30
    listed $3,350,000 Active
14. 2018-12-19
    price $2,350,000
15. 2018-10-15
    listed $2,190,000
16. 2018-10-15
    listed $2,350,000 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°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: $270,264
• − Mortgage interest: −$176,449
• − Property taxes: −$47,250
• − Insurance: −$15,750
• − Repairs & maintenance: −$21,621
• − Management: −$21,621
• − Depreciation: −$91,636
• Taxable loss: −$104,064
• Est. tax savings @ 24.0%: +$24,975
• After-tax cash flow: $-22,743/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): 42,853
• Household income: $125,734
• Rent vs Own: 81.9% rent · 18.1% own
• Severe rent burden: 3139.0

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 White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 15% Slovak 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Russian/Polish/Slavic 12% Spanish 10% Other Indo-European 3%

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: ▲ 22.48%
• Current HPI: 787.4068
• Rent YoY: ▲ 1.02%
• 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

+53.0% since first listed

4 events — show timeline

• 2026-03-30 Listed $3,350,000 RLS at REBNY
• 2018-12-19 Price Changed $2,350,000 RLS at REBNY
• 2018-10-15 Listed $2,350,000 RLS at REBNY
• 2018-10-15 Listed $2,190,000 RLS at REBNY

Property tax history

+5.7%/yr

Latest (2025): $6,250 · +3.4% YoY. Source: county tax records.