220 E 35th St · New York, NY 11203

$1,400,000

None bd · 81.0 ba · 6,758 sqft · MultiFamily · 29 Days on market

Built 1931 Fair condition 4,000 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 9 units. estimate disagrees with records

Listing remarks

Great investment opportunity in East Flatbush. Fully detached brick 9-family building with paying tenants already in place. Property sits on a 40 x 100 lot and offers approximately 4,700 square feet of living space. Building size is 27 x 85! The building features 2 two-bedroom apartments (Units 2A and 3A) and 7 one-bedroom apartments. Current annual income is approximately $145,000 with yearly expenses around $45,000, making this a solid income-producing property from day one. Located in a strong rental area of Brooklyn, New York City, this is a great opportunity for investors looking to add a stable multifamily property to their portfolio. Priced to sell and won’t last long.

Key facts

• Strong rental area
• 4,000 sq ft lot
• Built 1931

Tags

• FULLY DETACHED BRICK BUILDING
• STRONG RENTAL AREA
• STABLE MULTIFAMILY PROPERTY

Property features AI

Finance

• Financial info: Rent income reported: $146,040; Financing considered: Exchange, Bank Mortgage, Cash

Exterior

• Parking: No designated parking
• Utilities: Electric: Other; Hot water: Other; Heating fuel: Oil; Heat delivery: Other; Estimated utility expense: $1,000
• Home design: Detached building; Residential property; Zoning: R5
• Construction: Brick construction; Other roof (see remarks); Other foundation; Building footprint approximately 2,295 sq ft; Building dimensions: 85.00 x 27.00
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Flooring: Other flooring (see remarks)
• Bathrooms: 9 full bathrooms
• Heating & cooling: Oil heating; No central air units
• Interior features: Finished basement; Refrigerator; Stove; No central air units

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 7×1bd/1ba units multifamily listed at $1.40M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $7k ($80k/yr) — positive. Per door: $742/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.40M).
• Recommended offer: $1.38M (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 (+2.9%/yr); 190 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $20,696/mo this rent would consume 366% of the median local household income ($68k/yr) (locally 5458% 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 $10k of loan paydown is wiped out by about $42k 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 + 2.9% rent growth), your $392k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($1.38M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $1,379,000 (1.5% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.48% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.43%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.50×
• Total profit: $196,283
• Equity at exit: $208,745

10-year hold

• IRR: 21.4%
• Equity multiple: 2.81×
• Total profit: $710,228
• Equity at exit: $121,046

Cash invested: $392,000 (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 11203

• Rents YoY: 2.9%
• Active inventory: 190
• Price-to-rent: 49.5×

Monthly cashflow live

• Estimated rent: $20,696 medium
• Mortgage (P&I): −$7,342
• Tax est. 1.5%: −$1,750 /mo · $21,000/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,346
• Net cashflow: $6,675

Break-even live

Break-even rent $12,247

Max offer price $1,400,000

Occupancy floor 63%

Sensitivity live

Price	-10% $7,642	-5% $7,159	+0% $6,675	+5% $6,191	+10% $5,707
Rent	-10% $5,040	-5% $5,857	+0% $6,675	+5% $7,492	+10% $8,310
Rate	-1.0pp $7,380	-0.5pp $7,031	base $6,675	+0.5pp $6,312	+1.0pp $5,943

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,710
▸ 7× units	1	1	$15,988
Total (9 units)			$20,696

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-10
   days on market $1,400,000 Active 29 DOM
2. 2026-06-08
   days on market $1,400,000 Active 28 DOM
3. 2026-06-08
   days on market $1,400,000 Active 27 DOM
4. 2026-06-04
   days on market $1,400,000 Active 24 DOM
5. 2026-06-03
   days on market $1,400,000 Active 23 DOM
6. 2026-06-01
   days on market $1,400,000 Active 21 DOM
7. 2026-05-31
   days on market $1,400,000 Active 20 DOM
8. 2026-05-11
   listed $1,400,000 Active

ⓘ 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 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $248,352
• − Mortgage interest: −$78,422
• − Property taxes: −$21,000
• − Insurance: −$7,000
• − Repairs & maintenance: −$19,868
• − Management: −$19,868
• − Depreciation: −$40,727
• Taxable income: $61,467
• Est. tax owed @ 24.0%: −$14,752
• After-tax cash flow: $65,345/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This 9-family multifamily building requires significant repairs and maintenance, particularly to the roof and exterior. Improvements in landscaping, curb appeal, and interior updates can significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and potential leaks.
• Minor exterior brick facade — Some discoloration and minor damage present.
• Major landscaping — Overgrown areas and lack of recent maintenance.

Value-add opportunities

• Both landscaping and curb appeal — Improving the landscaping and curb appeal can enhance both the resale and rental value of the property.
• Both roof repair — A new roof can significantly increase the property's value by addressing a major issue and improving its overall appearance.
• Both exterior paint and facade repair — Updating the exterior paint and repairing the facade can improve the property's curb appeal and increase its value.
• Both HVAC and mechanical systems upgrade — Upgrading the HVAC and mechanical systems can improve the property's energy efficiency and comfort, making it more attractive to potential buyers and renters.
• Both interior updates — Updating the interior walls, paint, and windows can improve the property's overall condition and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and potential leaks.	Major	$15,000–50,000
exterior brick facade · Some discoloration and minor damage present.	Minor	$500–3,000
landscaping · Overgrown areas and lack of recent maintenance.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both landscaping and curb appeal — Improving the landscaping and curb appeal can enhance both the resale and rental value of the property. ↑
• Both roof repair — A new roof can significantly increase the property's value by addressing a major issue and improving its overall appearance. ↑
• Both exterior paint and facade repair — Updating the exterior paint and repairing the facade can improve the property's curb appeal and increase its value. ↑
• Both HVAC and mechanical systems upgrade — Upgrading the HVAC and mechanical systems can improve the property's energy efficiency and comfort, making it more attractive to potential buyers and renters. ↑
• Both interior updates — Updating the interior walls, paint, and windows can improve the property's overall condition and make it more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 74,817
• Household income: $67,897
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 5458.0

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% Two or more races 10% Hispanic / Latino 7% White 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 9%
• Foreign-born: 49% · Canada, Mexico, China
• Languages at home: 81% English-only · French/Haitian/Cajun 10% Spanish 5% 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: ▼ -572.37%
• Current HPI: 379.2379
• Rent YoY: ▲ 2.89%
• 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

1 event — show timeline

• 2026-05-11 Listed $1,400,000 BNYMLS