3724 Laurel Ave · New York, NY 11224

$888,000

4 bd · 3.0 ba · 1,912 sqft · MultiFamily public records · 104 Days on market

Built 1935 3,200 sqft lot Est $889k · at est.

---

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 +23.4/30.0
• ARV discount +7.6/15.0
• DSCR +7.5/10.0
• Appreciation +7.5/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Motivated seller! Exceptional two-family detached home in the private Seagate community — a rare find. Located on a quiet block in Seagate, Brooklyn’s only gated beachfront community with 24/7 security, this well-maintained property sits on a 3,200 sq ft lot and features four separate entrances, offering flexibility for a variety of living arrangements or rental income potential. The first-floor unit offers a bright living room, three bedrooms, a full kitchen, and access to a finished basement with a bathroom and laundry area. The second-floor unit features an oversized living room, kitchen, two bedrooms, and both front and rear porches. Outdoor highlights include a private driv

Key facts

• Finished basement
• 24 7 security
• 3,200 sq ft lot

Tags

• TWO FAMILY DETACHED HOME
• PRIVATE SEAGATE COMMUNITY
• GATED BEACHFRONT COMMUNITY
• 24 7 SECURITY
• FOUR SEPARATE ENTRANCES
• FINISHED BASEMENT

Property features AI

Finance

• Financial info: Financing considered: cash, bank mortgage, exchange

Exterior

• Parking: Private drive; Detached garage with 6+ spaces
• Utilities: 110V and 220V electric; Gas hot water; Gas heating; Steam/radiator heat
• Home design: Detached residential building; Shingle roof; Block foundation
• Construction: Block and wood frame construction; Building footprint approximately 800 sq ft; Building dimensions about 40.00 x 20.00
• Exterior features: Back yard; Stucco exterior; Other exterior features (see remarks)

Interior

• Kitchen: Microwave; Refrigerator; Stove
• Flooring: Hardwood floors
• Bathrooms: 3 full bathrooms
• Heating & cooling: Steam/radiator heat; Gas heating fuel; 110V and 220V electric service
• Interior features: Wall A/C units (5+); Dryer; Washer; Microwave; Refrigerator; Stove; Hardwood floors; Finished full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $888k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $820/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $888k).
• Recommended offer: $808k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Market conditions: Rents rising fast (+7.0%/yr); 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,124/mo this rent would consume 251% of the median local household income ($44k/yr) (locally 4426% 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 $50k of equity ($6k loan paydown + $44k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $249k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($808k) is reasonable based on typical stale-listing flexibility.
• 4 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 $750k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $808,080 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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 1935 — 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: 1.03% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $889,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3820 Cypress Ave	0.13mi	4/—	1,840 (-4%)	6mo	$855,000	$465	83
3735 Oceanic Ave	0.17mi	5/3.5 (+1)	2,053 (+7%)	1mo	$885,000	$431	72

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.39×
• Total profit: $346,536
• Equity at exit: $502,247

10-year hold

• IRR: 23.0%
• Equity multiple: 5.21×
• Total profit: $1,046,258
• Equity at exit: $866,009

Cash invested: $248,640 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $9,124 high
• Mortgage (P&I): −$4,657
• Tax from tax record: −$541 /mo · $6,486/yr
• Insurance: −$370
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,916
• Net cashflow: $1,641

Break-even live

Break-even rent $7,047

Max offer price $888,000

Occupancy floor 77%

Sensitivity live

Price	-10% $2,143	-5% $1,892	+0% $1,641	+5% $1,389	+10% $1,138
Rent	-10% $920	-5% $1,280	+0% $1,641	+5% $2,001	+10% $2,361
Rate	-1.0pp $2,088	-0.5pp $1,867	base $1,641	+0.5pp $1,411	+1.0pp $1,176

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$9,124
Total (2 units)			$9,124

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: $222,000
• Closing costs: $26,640
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	19d	1	1.40mi

Listing history 31 events

1. 2026-06-21
   days on market $888,000 Active 104 DOM
2. 2026-06-18
   days on market $888,000 Active 101 DOM
3. 2026-06-17
   days on market $888,000 Active 100 DOM
4. 2026-06-15
   days on market $888,000 Active 98 DOM
5. 2026-06-13
   days on market $888,000 Active 96 DOM
6. 2026-06-10
   days on market $888,000 Active 92 DOM
7. 2026-06-08
   days on market $888,000 Active 91 DOM
8. 2026-06-08
   days on market $888,000 Active 90 DOM
9. 2026-06-04
   days on market $888,000 Active 87 DOM
10. 2026-06-03
    days on market $888,000 Active 86 DOM
11. 2026-06-01
    days on market $888,000 Active 84 DOM
12. 2026-05-31
    days on market $888,000 Active 83 DOM
13. 2026-05-13
    price $888,000
14. 2026-05-04
    price $895,000
15. 2026-04-06
    price $899,000
16. 2026-03-10
    listed $929,000 Active
17. 2025-09-27
    price $919,000
18. 2025-09-04
    price $929,000
19. 2025-09-02
    price $939,000
20. 2019-12-30
    historical
21. 2019-11-05
    price $789,000
22. 2019-11-04
    price $789,000
23. 2019-10-02
    status Listing Extended
24. 2019-10-02
    historical
25. 2019-07-19
    price $799,000
26. 2019-07-19
    price $799,000
27. 2019-06-17
    price $859,000
28. 2019-04-30
    listed $879,000 New
29. 2018-10-03
    soldstatus $750,100
30. 2018-09-14
    soldstatus $750,000
31. 2018-01-09
    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: $6,486 · $541/mo
• Projected year-2 tax: $10,747 · $896/mo
• Expected delta: +$4,260/yr (+$355/mo · 65.7%)

ⓘ 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 (shaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $109,488
• − Mortgage interest: −$49,742
• − Property taxes: −$6,486
• − Insurance: −$4,440
• − Repairs & maintenance: −$8,759
• − Management: −$8,759
• − Depreciation: −$25,833
• Taxable income: $5,469
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $18,375/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+7.6% since first listed

19 events — show timeline

• 2026-05-13 Price Changed $888,000 BNYMLS
• 2026-05-04 Price Changed $895,000 BNYMLS
• 2026-04-06 Price Changed $899,000 BNYMLS
• 2026-03-10 Listed $929,000 BNYMLS
• 2025-09-27 Price Changed $919,000 BNYMLS
• 2025-09-04 Price Changed $929,000 BNYMLS
• 2025-09-02 Price Changed $939,000 BNYMLS
• 2019-12-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-11-05 Price Changed $789,000 BNYMLS
• 2019-11-04 Price Changed $789,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2019-10-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-07-19 Price Changed $799,000 BNYMLS
• 2019-07-19 Price Changed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-17 Price Changed $859,000 BNYMLS
• 2019-04-30 Listed $879,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-03 Sold (Public Records) $750,100 Public Records
• 2018-09-14 Sold (MLS) $750,000 BNYMLS
• 2018-01-09 Listed $825,000 BNYMLS

Property tax history

+5.1%/yr

Latest (2025): $6,486 · -2.4% YoY. Source: county tax records.