299 Troutman St · New York, NY 11237

$500,000

16 bd · 8.0 ba · 6,500 sqft · MultiFamily · 361 Days on market

2,500 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 8 units. estimate disagrees with records

Listing remarks

CASH BUYERS ONLY. 8-unit rent stabilized building in Bushwick under NYC HPD 7A Program. Approx. $1M+ HPD violations/fines. 4 occupied / 4 vacant. Sold AS-IS with all violations, liens, tenants, and DOB/HPD issues. No financials available. No interior showings. R6 zoning. Experienced investors only. Buyer to perform own due diligence regarding 7A program and all building conditions. MLS Approve- No financial provide at this time due to 7A program.

Key facts

• Zoned r6
• Tree-lined streets
• 2,500 sq ft lot

Tags

• LEGAL 8-FAMILY TOWNHOUSE
• ZONED R6
• TREE-LINED STREETS
• EASY ACCESS TO MANHATTAN

Property features AI

Finance

• Other: Property located in Brooklyn (Cross Street: Irving Ave, Block 3175)
• Financial info: Financing options may include exchange, assumption, bank mortgage, cash, lease/purchase, or owner financing
• HOA & community: Handicap access availability unknown

Exterior

• Parking: Parking listed as other
• Security: No security features specified
• Utilities: Electric service described as other; Hot water service described as other; Heating fuel described as other; Heat delivery described as other
• Home design: Attached residential building; Building footprint approximately 1,625 (units in remarks); Building dimensions approximately 65.00 x 25.00; Zoning: r6
• Construction: Construction materials described as other; Roof described as other (see remarks); Other type of foundation
• Exterior features: Yard with details noted in remarks; Exterior described as other (see remarks)

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Four bedrooms on each level (levels 1–4) — 16 total
• Flooring: Other flooring (see remarks)
• Bathrooms: Two full bathrooms on each level (levels 1–4) — 8 full bathrooms total
• Heating & cooling: Heating and hot water details listed as other (see remarks)
• Interior features: Multiple storage rooms available; Basement with additional amenities (see remarks)
• Laundry & utility: Five or more AC units

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $19k ($224k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($28k rent vs $500k).
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Cap rate 51.1% 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 (+4.8%/yr); 56 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $28,007/mo this rent would consume 394% of the median local household income ($85k/yr) (locally 4577% 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 $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $140k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 361 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $440,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 361 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. 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. 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.
9. 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.
10. 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: 5.60% ✓
• Cap rate: 51.10%
• Cash-on-cash: 160.03%
• DSCR: 8.12
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 4.78% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.81×
• Total profit: $1,512,894
• Equity at exit: $450,440

10-year hold

• IRR: —
• Equity multiple: 26.95×
• Total profit: $3,632,315
• Equity at exit: $971,390

Cash invested: $140,000 (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 11237

• Home prices YoY: 3.1%
• Rents YoY: 4.8%
• Active inventory: 56
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $28,007 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,881
• Net cashflow: $18,670

Break-even live

Break-even rent $4,374

Max offer price $500,000

Occupancy floor 28%

Sensitivity live

Price	-10% $19,016	-5% $18,843	+0% $18,670	+5% $18,497	+10% $18,325
Rent	-10% $16,458	-5% $17,564	+0% $18,670	+5% $19,776	+10% $20,883
Rate	-1.0pp $18,922	-0.5pp $18,797	base $18,670	+0.5pp $18,541	+1.0pp $18,409

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$28,008
Total (8 units)			$28,007

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $500,000 Active 361 DOM
2. 2026-06-17
   days on market $500,000 Active 360 DOM
3. 2026-06-15
   days on market $500,000 Active 358 DOM
4. 2026-06-13
   days on market $500,000 Active 356 DOM
5. 2026-06-10
   days on market $500,000 Active 352 DOM
6. 2026-06-08
   days on market $500,000 Active 351 DOM
7. 2026-06-03
   days on market $500,000 Active 346 DOM
8. 2026-06-01
   days on market $500,000 Active 344 DOM
9. 2026-05-31
   days on market $500,000 Active 343 DOM
10. 2026-01-16
    price $500,000
11. 2025-10-15
    price $788,888
12. 2025-10-02
    price $888,888
13. 2025-08-22
    price $938,888
14. 2025-08-10
    price $968,888
15. 2025-06-22
    listed $988,888 Active
16. 2024-03-12
    price $1,175,000
17. 2023-10-05
    price $1,380,000

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $336,084
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$26,887
• − Management: −$26,887
• − Depreciation: −$14,545
• Taxable income: $229,757
• Est. tax owed @ 24.0%: −$55,142
• After-tax cash flow: $168,900/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): 45,334
• Household income: $85,196
• Rent vs Own: 87.8% rent · 12.2% own
• Severe rent burden: 4577.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 26% Two or more races 17% Black 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 15% Cuban 1% Dominican 9%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 48% English-only · Spanish 41% Chinese 3% Other Indo-European 2%

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: ▲ 14.38%
• Current HPI: 481.1869
• Rent YoY: ▲ 4.78%
• 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

-63.8% since first listed

8 events — show timeline

• 2026-01-16 Price Changed $500,000 BNYMLS
• 2025-10-15 Price Changed $788,888 BNYMLS
• 2025-10-02 Price Changed $888,888 BNYMLS
• 2025-08-22 Price Changed $938,888 BNYMLS
• 2025-08-10 Price Changed $968,888 BNYMLS
• 2025-06-22 Listed $988,888 BNYMLS
• 2024-03-12 Price Changed $1,175,000 BNYMLS
• 2023-10-05 Price Changed $1,380,000 BNYMLS