2294 Atlantic Ave · New York, NY 11233

$1,100,000

6 bd · 3.0 ba · 2,160 sqft · MultiFamily public records · 66 Days on market

Built 1901 1,700 sqft lot Est $1197k · 8% under

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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).

• ARV discount +11.1/15.0
• Cash flow +10.7/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to 2294 Atlantic Avenue, Turnkey 3-family investment opportunity featuring three spacious units, each offering 2 bedrooms and 1 bathroom. This well-maintained property is ideal for both seasoned investors and those looking to start building a strong real estate portfolio. Each unit provides a comfortable layout with generous living space, making them highly desirable for long-term tenants. The property boasts a strong rent roll with consistent income potential, supported by reliable occupancy and market-aligned rental rates. With minimal operating expenses, this asset is designed for efficiency and ease of management. Tenants are responsible for most utilities, helping to keep owner

Key facts

• 1,700 sq ft lot
• Listed 66 days

Property features AI

Finance

• Other: Building footprint approximately 765 sq ft; Total building area reported as 2,160 sq ft; Three residential units (multifamily); Utility expense listed as 500.00
• Financial info: Annual rental income listed as 66,792; Financing options considered: cash, bank mortgage, exchange
• HOA & community:

Exterior

• Parking: No on-site parking
• Security:
• Utilities: Electric service (other); Hot water supplied via boiler coil
• Home design: Attached residential building; Flat roof
• Construction: Other construction materials; Poured concrete foundation
• Exterior features: Brick-faced exterior

Interior

• Kitchen:
• Bedrooms: Three 2-bedroom units (one per floor)
• Flooring: Hardwood floors
• Bathrooms: Each unit has one full bathroom (total of 3 full baths)
• Heating & cooling: Ductless/split heat delivery; Electric heating; Hot water coil in boiler for hot water
• Interior features: Central A/C system with three units; Hardwood floors throughout; Full, semi-finished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-524 ($-6k/yr) — negative. Per door: $-175/mo.
• To cash-flow at today's rent, offer at most $1.02M (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $896k (18.6% below list).
• Recommended offer: $896k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 (+6.4%/yr); 152 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $8,959/mo this rent would consume 172% of the median local household income ($62k/yr) (locally 6960% 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 $118k of equity ($8k loan paydown + $110k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$189k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($1.03M) 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 $340k; list at $1.10M implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 39% 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 $895,900 (18.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $1,196,640
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2347 Pacific St	0.10mi	6/4.0	2,160 (0%)	12mo	$780,000	$361	82
443 Marion St	0.42mi	6/3.0	2,049 (-5%)	2mo	$995,000	$486	71
30 Marconi Pl	0.19mi	6/3.0	2,340 (+8%)	17mo	$1,350,000	$577	63
174 Sumpter St	0.53mi	5/3.0 (-1)	2,062 (-4%)	2mo	$1,150,000	$558	61
168 Hull St	0.25mi	5/— (-1)	1,942 (-10%)	14mo	$1,375,000	$708	55
472 Sutter Ave	0.68mi	6/4.0	2,280 (+6%)	2mo	$999,000	$438	54
235 Marion St	0.66mi	5/3.0 (-1)	2,040 (-6%)	7mo	$1,130,000	$554	49

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

Projected returns pro-forma

10.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.94×
• Total profit: $597,913
• Equity at exit: $990,967

10-year hold

• IRR: 22.1%
• Equity multiple: 7.05×
• Total profit: $1,862,040
• Equity at exit: $2,137,058

Cash invested: $308,000 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 30.7×

Monthly cashflow live

• Estimated rent: $8,959 medium
• Mortgage (P&I): −$5,769
• Tax est. 1.5%: −$1,375 /mo · $16,500/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,881
• Net cashflow: $-524

Break-even live

Break-even rent $9,623

Max offer price $1,024,141

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,958
Total (3 units)			$8,959

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $1,100,000 Active 66 DOM
2. 2026-06-17
   days on market $1,100,000 Active 65 DOM
3. 2026-06-15
   days on market $1,100,000 Active 63 DOM
4. 2026-06-13
   days on market $1,100,000 Active 61 DOM
5. 2026-06-10
   days on market $1,100,000 Active 57 DOM
6. 2026-06-08
   days on market $1,100,000 Active 56 DOM
7. 2026-06-08
   days on market $1,100,000 Active 55 DOM
8. 2026-06-04
   days on market $1,100,000 Active 52 DOM
9. 2026-06-03
   days on market $1,100,000 Active 51 DOM
10. 2026-06-01
    days on market $1,100,000 Active 49 DOM
11. 2026-05-31
    days on market $1,100,000 Active 48 DOM
12. 2026-04-12
    listed $1,100,000 Active
13. 2026-02-10
    historical
14. 2025-05-22
    price $1,099,999
15. 2025-01-21
    price $1,124,999
16. 2025-01-15
    listed $1,149,999 Active
17. 2024-07-10
    historical
18. 2024-03-14
    price $1,100,000
19. 2024-02-21
    price $1,149,999
20. 2024-01-31
    listed $1,199,999 Active
21. 2019-07-15
    historical
22. 2018-07-14
    listed $1,500,000 New
23. 2004-01-29
    soldstatus $340,000
24. 1993-07-01
    soldstatus $26,000
25. 1990-05-24
    soldstatus $20,000

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% 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: $107,508
• − Mortgage interest: −$61,617
• − Property taxes: −$16,500
• − Insurance: −$5,500
• − Repairs & maintenance: −$8,601
• − Management: −$8,601
• − Depreciation: −$32,000
• Taxable loss: −$25,310
• Est. tax savings @ 24.0%: +$6,074
• After-tax cash flow: $-216/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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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 (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

+5400.0% since first listed

14 events — show timeline

• 2026-04-12 Listed $1,100,000 BNYMLS
• 2026-02-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-22 Price Changed $1,099,999 OneKey® MLS as Distributed by MLS Grid
• 2025-01-21 Price Changed $1,124,999 OneKey® MLS as Distributed by MLS Grid
• 2025-01-15 Listed $1,149,999 OneKey® MLS as Distributed by MLS Grid
• 2024-07-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-14 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-21 Price Changed $1,149,999 OneKey® MLS as Distributed by MLS Grid
• 2024-01-31 Listed $1,199,999 OneKey® MLS as Distributed by MLS Grid
• 2019-07-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-07-14 Listed $1,500,000 OneKey® MLS as Distributed by MLS Grid
• 2004-01-29 Sold (Public Records) $340,000 Public Records
• 1993-07-01 Sold (Public Records) $26,000 Public Records
• 1990-05-24 Sold (Public Records) $20,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,208 · -2.4% YoY. Source: county tax records.