716 New Lots Ave · New York, NY 11207

$1,150,000

9 bd · 6.0 ba · 3,120 sqft · MultiFamily public records · 52 Days on market

Built 2004 1,799 sqft lot Est $1126k · at est.

---

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 +18.9/30.0
• ARV discount +6.6/15.0
• DSCR +5.9/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to 716 New Lots Ave, a spacious three-family home in the heart of East New York. This property features three fully occupied units, each generating consistent cash flow. The first-floor unit offers 2 bedrooms and 2 bathrooms. The second floor boasts a generous 3-bedroom, 2-bathroom layout, while the third floor also provides 3 bedrooms and 2 bathrooms, making it an ideal investment opportunity. Additional highlights include a full finished basement and a convenient one-car parking spot. Located in a prime area with easy access to all major transportation systems, this property is perfect for those seeking a well-maintained, income-generating investment. Don’t miss out on this

Key facts

• One car parking spot
• Fully occupied units
• 1,799 sq ft lot

Tags

• FULLY OCCUPIED UNITS
• FULL FINISHED BASEMENT
• ONE CAR PARKING SPOT
• EASY ACCESS TO TRANSPORTATION

Property features AI

Exterior

• Parking: Attached garage (1 space); Total parking for 1 vehicle
• Utilities: Con-Edison electric; Public sewer; Public trash collection
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units and one 2-bedroom unit
• Bathrooms: Six full bathrooms
• Heating & cooling: Natural gas heating; Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Entrance foyer; Built-in storage; Finished full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2×3bd/2.0ba + 1×2bd/2.0ba units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $391/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 $1.05M (8.4% below list).
• Recommended offer: $1.05M (8.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• 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 $10,535/mo this rent would consume 224% 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 $8k of loan paydown is wiped out by about $34k 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

• It's been on market 52 days — a 3% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y ago; this cycle's ask has dropped $100k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $740k; list at $1.15M implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $1,053,500 (8.4% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.37%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $1,126,320
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
387 Jerome St	0.47mi	9/5.0	2,934 (-6%)	1mo	$1,175,000	$400	63
448 Ashford St #3	0.38mi	8/5.0 (-1)	2,970 (-5%)	3mo	$1,250,000	$421	63
1017 Dumont Ave	0.24mi	8/4.0 (-1)	3,116 (-0%)	17mo	$618,500	$198	62
369 Milford St	0.52mi	8/1.0 (-1)	3,198 (+2%)	5mo	$1,200,000	$375	47
758 Livonia Ave	0.27mi	8/4.0 (-1)	2,775 (-11%)	20mo	$965,000	$348	40
390 Essex St	0.61mi	8/5.0 (-1)	2,812 (-10%)	8mo	$1,140,000	$405	39
590 Liberty Ave	0.71mi	8/3.0 (-1)	3,240 (+4%)	7mo	$1,050,000	$324	37
301 Montauk Ave	0.53mi	8/3.0 (-1)	2,730 (-12%)	11mo	$985,000	$361	28
1140 Sutter Ave	0.60mi	8/3.0 (-1)	3,420 (+10%)	19mo	$694,785	$203	24

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: -7.2%
• Equity multiple: 0.73×
• Total profit: $-87,115
• Equity at exit: $171,469

10-year hold

• IRR: 4.9%
• Equity multiple: 1.39×
• Total profit: $125,805
• Equity at exit: $99,431

Cash invested: $322,000 (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: 25.9×

Monthly cashflow live

• Estimated rent: $10,535 medium
• Mortgage (P&I): −$6,031
• Tax from tax record: −$639 /mo · $7,672/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,212
• Net cashflow: $1,173

Break-even live

Break-even rent $9,050

Max offer price $1,150,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,824	-5% $1,499	+0% $1,173	+5% $848	+10% $522
Rent	-10% $341	-5% $757	+0% $1,173	+5% $1,590	+10% $2,006
Rate	-1.0pp $1,753	-0.5pp $1,466	base $1,173	+0.5pp $875	+1.0pp $572

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$7,396
1× unit	2	2	$3,139
Total (3 units)			$10,535

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $1,150,000 Active 52 DOM
2. 2026-06-18
   days on market $1,150,000 Active 49 DOM
3. 2026-06-17
   days on market $1,150,000 Active 48 DOM
4. 2026-06-16
   days on market $1,150,000 Active 47 DOM
5. 2026-06-15
   days on market $1,150,000 Active 46 DOM
6. 2026-06-13
   days on market $1,150,000 Active 44 DOM
7. 2026-06-10
   days on market $1,150,000 Active 40 DOM
8. 2026-06-08
   days on market $1,150,000 Active 39 DOM
9. 2026-06-08
   days on market $1,150,000 Active 38 DOM
10. 2026-06-04
    days on market $1,150,000 Active 35 DOM
11. 2026-06-03
    days on market $1,150,000 Active 34 DOM
12. 2026-06-01
    days on market $1,150,000 Active 32 DOM
13. 2026-05-31
    days on market $1,150,000 Active 31 DOM
14. 2026-05-22
    price $1,150,000
15. 2026-04-27
    listed $1,250,000 Active
16. 2026-04-27
    historical
17. 2025-08-27
    listed $1,280,000 Active
18. 2025-06-01
    historical
19. 2024-09-17
    listed $1,250,000 Active
20. 2018-11-07
    soldstatus $740,000
21. 2018-04-13
    historical Permanently Off Market
22. 2018-01-24
    historical Permanently Off Market
23. 2017-11-15
    status Active
24. 2017-10-29
    historical Permanently Off Market
25. 2017-06-23
    status Active
26. 2017-01-06
    listed $795,000
27. 2017-01-06
    listed $795,000 Active
28. 2017-01-06
    listed $825,000
29. 2017-01-06
    listed $825,000

ⓘ 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: $7,672 · $639/mo
• Projected year-2 tax: $13,553 · $1,129/mo
• Expected delta: +$5,882/yr (+$490/mo · 76.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% 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: $126,420
• − Mortgage interest: −$64,418
• − Property taxes: −$7,672
• − Insurance: −$5,750
• − Repairs & maintenance: −$10,114
• − Management: −$10,114
• − Depreciation: −$33,455
• Taxable loss: −$5,101
• Est. tax savings @ 24.0%: +$1,224
• After-tax cash flow: $15,306/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

+44.7% since first listed

16 events — show timeline

• 2026-05-22 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listed $1,250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-27 Listed $1,280,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-09-17 Listed $1,250,000 OneKey® MLS as Distributed by MLS Grid
• 2018-11-07 Sold (Public Records) $740,000 Public Records
• 2018-04-13 Delisted — RLS at REBNY
• 2018-01-24 Delisted — RLS at REBNY
• 2017-11-15 Relisted — RLS at REBNY
• 2017-10-29 Delisted — RLS at REBNY
• 2017-06-23 Relisted — RLS at REBNY
• 2017-01-06 Listed $825,000 RLS at REBNY
• 2017-01-06 Listed $825,000 RLS at REBNY
• 2017-01-06 Listed $795,000 RLS at REBNY
• 2017-01-06 Listed $795,000 RLS at REBNY

Property tax history

+11.3%/yr

Latest (2025): $7,672 · -0.7% YoY. Source: county tax records.