279 Van Siclen Ave · New York, NY 11207

$1,050,000

None bd · None ba · 3,600 sqft · MultiFamily public records · 315 Days on market

Built 1925 2,500 sqft lot Est $1145k · 8% under

---

Why this score? — see what drove the B 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 +28.9/30.0
• ARV discount +11.2/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Legal 4 family brick property. Property will be delivered fully tenanted with rent paying tenants. Tenants have no leases. Great as an investment property with income producing. Apartments are in good condition; Boiler and hot water tank have been updated. , Additional information: Appearance:good

Key facts

• Brick property
• Income producing
• Updated boiler

Tags

• BRICK PROPERTY
• INCOME PRODUCING
• UPDATED BOILER

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $893/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.05M).
• Recommended offer: $924k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+5.3%/yr); 254 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,248/mo this rent would consume 281% of the median local household income ($57k/yr) (locally 7510% 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 $7k of loan paydown is wiped out by about $32k 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $294k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 315 days — a 12% lower offer ($924k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $1.05M implies a 1515% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $924,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 315 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 1925 — 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: 1.26% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.58%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $1,144,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
590 Liberty Ave	0.20mi	8/3.0	3,240 (-10%)	7mo	$1,050,000	$324	68
816 Dumont Ave	0.44mi	9/3.0	3,750 (+4%)	12mo	$803,250	$214	63
309 Berriman St	0.62mi	6/4.0	3,432 (-5%)	6mo	$1,090,000	$318	59
33 Jerome St	0.57mi	7/3.0	3,308 (-8%)	6mo	$1,163,000	$352	55
196 Shepherd Ave	0.62mi	6/3.0	3,240 (-10%)	4mo	$1,055,000	$326	51
626 Blake Ave	0.48mi	5/3.0	3,126 (-13%)	8mo	$925,000	$296	48
654 Schenck Ave	0.64mi	7/3.0	3,250 (-10%)	7mo	$1,100,000	$338	48
593 Bradford St	0.61mi	7/4.0	3,198 (-11%)	8mo	$1,000,000	$313	46
1140 Sutter Ave	0.75mi	8/3.0	3,420 (-5%)	19mo	$694,785	$203	41
1017 Dumont Ave	0.58mi	8/4.0	3,116 (-13%)	17mo	$618,500	$198	37
63 Sunnyside Ave	0.58mi	7/5.0	3,063 (-15%)	17mo	$999,000	$326	34

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.30×
• Total profit: $88,515
• Equity at exit: $156,558

10-year hold

• IRR: 18.6%
• Equity multiple: 2.71×
• Total profit: $504,148
• Equity at exit: $90,785

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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 254
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $13,248 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$951 /mo · $11,409/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,782
• Net cashflow: $3,571

Break-even live

Break-even rent $8,727

Max offer price $1,050,000

Occupancy floor 68%

Sensitivity live

Price	-10% $4,166	-5% $3,869	+0% $3,571	+5% $3,274	+10% $2,977
Rent	-10% $2,525	-5% $3,048	+0% $3,571	+5% $4,095	+10% $4,618
Rate	-1.0pp $4,100	-0.5pp $3,838	base $3,571	+0.5pp $3,299	+1.0pp $3,022

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$13,248
Total (4 units)			$13,248

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 6 events

1. 2025-09-09
   status Pending
2. 2025-07-06
   price $1,050,000
3. 2025-03-27
   price $1,075,000
4. 2024-10-29
   listed $1,100,000 Active
5. 1986-05-16
   soldstatus $65,000
6. 1985-08-06
   soldstatus $25,000

ⓘ 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: $11,409 · $951/mo
• Projected year-2 tax: $14,577 · $1,215/mo
• Expected delta: +$3,168/yr (+$264/mo · 27.8%)

ⓘ 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 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: $158,976
• − Mortgage interest: −$58,816
• − Property taxes: −$11,409
• − Insurance: −$5,250
• − Repairs & maintenance: −$12,718
• − Management: −$12,718
• − Depreciation: −$30,545
• Taxable income: $27,519
• Est. tax owed @ 24.0%: −$6,605
• After-tax cash flow: $36,252/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+4100.0% since first listed

6 events — show timeline

• 2025-09-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-06 Price Changed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-27 Price Changed $1,075,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-29 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 1986-05-16 Sold (Public Records) $65,000 Public Records
• 1985-08-06 Sold (Public Records) $25,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $11,409 · -1.0% YoY. Source: county tax records.