660 Warwick St · New York, NY 11207

$1,275,000

20 bd · 16.0 ba · 2,880 sqft · MultiFamily public records · 1 Days on market

Built 1901 2,000 sqft lot

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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).

• Cash flow +15.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• 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: 4 units. confirmed

Listing remarks

Rare Investment Opportunity – Beautiful Brick Quadruplex. This well-maintained legal 4-family property features four apartments, ideal for investors seeking strong rental income or end users looking to minimize their housing expenses. This 2 Story Brick House sits on a 20x100 lot. The building features: (3) 1-bedroom apartments & (1) 2-bedroom apartment and a full finished basement. Three out of the four units are currently occupied and one out of the four units will be delivered vacant. All four apartments have been renovated within the last 5 years. The hot water tank was replaced in 2023. The first floor boasts a thoughtfully designed one-bedroom unit and a two-bedroom unit,

Key facts

• Brick quadruplex
• 4-family property
• 2,000 sq ft lot

Tags

• BRICK QUADRUPLEX
• 4-FAMILY PROPERTY
• FULL FINISHED BASEMENT
• PRIVATE SEPARATE ENTRANCE
• RENOVATED WITHIN LAST 5 YEARS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Public water
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Three 1-bedroom units; One 2-bedroom unit
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Radiant heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Finished full basement; Covered porch

What this means for you Summary

Snapshot

• This is a 3×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $1.27M.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive. Per door: $135/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 $1.06M (16.7% below list).
• Recommended offer: $1.06M (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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); 251 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,619/mo this rent would consume 225% 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 $9k of loan paydown is wiped out by about $38k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 8y ago 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 $870k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 68% 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 $1,061,900 (16.7% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.83% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-147,594
• Equity at exit: $190,107

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $21,668
• Equity at exit: $110,239

Cash invested: $357,000 (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: 251
• Price-to-rent: 41.2×

Monthly cashflow live

• Estimated rent: $10,619 medium
• Mortgage (P&I): −$6,686
• Tax from tax record: −$565 /mo · $6,776/yr
• Insurance: −$531
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,230
• Net cashflow: $540

Break-even live

Break-even rent $9,935

Max offer price $1,275,000

Occupancy floor 90%

Sensitivity live

Price	-10% $1,262	-5% $901	+0% $540	+5% $179	+10% $-181
Rent	-10% $-299	-5% $121	+0% $540	+5% $960	+10% $1,379
Rate	-1.0pp $1,182	-0.5pp $865	base $540	+0.5pp $210	+1.0pp $-126

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$7,731
1× unit	2	1	$2,887
Total (4 units)			$10,619

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: $318,750
• Closing costs: $38,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 689-char remark
2. 2026-06-17
   listed $1,275,000 Active 1 DOM

ⓘ 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: $6,776 · $565/mo
• Projected year-2 tax: $14,162 · $1,180/mo
• Expected delta: +$7,386/yr (+$615/mo · 109.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% 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 68% 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: $127,428
• − Mortgage interest: −$71,420
• − Property taxes: −$6,776
• − Insurance: −$7,172
• − Repairs & maintenance: −$10,194
• − Management: −$10,194
• − Depreciation: −$37,091
• Taxable loss: −$15,420
• Est. tax savings @ 24.0%: +$3,701
• After-tax cash flow: $10,185/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

+2025.0% since first listed

19 events — show timeline

• 2026-06-12 Listed $1,275,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-04 Rental Removed $2,584 ONEKEY
• 2024-11-30 Listed for Rent $2,584 ONEKEY
• 2024-10-05 Rental Removed $2,584 ONEKEY
• 2024-10-02 Listed for Rent $2,584 ONEKEY
• 2024-09-03 Rental Removed $2,584 ONEKEY
• 2024-09-01 Listed for Rent $2,584 ONEKEY
• 2024-07-30 Rental Removed $2,584 ONEKEY
• 2024-07-25 Listed for Rent $2,584 ONEKEY
• 2024-07-19 Rental Removed $2,584 ONEKEY
• 2024-06-28 Listed for Rent $2,584 ONEKEY
• 2018-12-04 Sold (Public Records) $870,000 Public Records
• 2018-09-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-17 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-07 Listed $920,000 OneKey® MLS as Distributed by MLS Grid
• 2010-09-20 Sold (Public Records) $570,000 Public Records
• 2009-10-09 Sold (Public Records) $275,000 Public Records
• 2005-10-21 Sold (Public Records) $550,000 Public Records
• 1986-09-19 Sold (Public Records) $60,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $6,776 · +2.2% YoY. Source: county tax records.