1429 72nd St · New York, NY 11228

$1,529,000

12 bd · 6.0 ba · 4,680 sqft · MultiFamily public records · 78 Days on market

Built 1924 2,500 sqft lot Est $2148k · 29% 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).

• Cash flow +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +4.5/5.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Introducing this solid all-brick, three-story 6-family building located in the highly desirable Dyker Heights/Bensonhurst neighborhood! This is an excellent investment opportunity offering strong and consistent rental income potential. Each floor features two well-laid-out units, totaling six apartments, each offering 2 bedrooms and 1 full bathroom. The property also includes a fully finished basement, providing additional usable space for storage or recreation, along with a shared driveway for added convenience. Situated in a prime, high-demand location surrounded by shops, restaurants, supermarkets, and public transportation.

Key facts

• 2,500 sq ft lot
• Listed 78 days

Property features AI

Finance

• Other: Property contains 6 units — all listed as leased with current rents reported for each unit; Typical utility expense itemized
• Financial info: Annual rent income reported; Financing options considered: exchange, bank mortgage, cash

Exterior

• Parking: Shared driveway
• Security: No building amenities listed
• Utilities: Electric: 220V service with circuit breakers; Hot water: Gas; Heating fuel: Gas
• Home design: Semi-detached building; Residential property; Flat roof; Building footprint approximately 1,560; Building dimensions approximately 78.00 x 20.00; Zoning R5
• Construction: Brick construction; Poured concrete foundation
• Exterior features: Other yard (see remarks); Brick exterior

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Total of 6 residential units; Each unit is 2-bedroom
• Flooring: Hardwood floors
• Bathrooms: Six full bathrooms total; Each unit has 1 full bath
• Heating & cooling: Steam/radiator heat; Hot water heated by gas; Electrical service includes 220V with circuit breakers
• Interior features: Finished full basement; Refrigerator; Stove; Other interior features noted; Hardwood floors; No central AC units (0 units)
• Laundry & utility: No separate washer/dryer listed

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.53M.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $221/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 $1.50M (1.9% below list).
• Recommended offer: $1.44M (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+8.0%/yr); 192 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,997/mo this rent would consume 215% of the median local household income ($84k/yr) (locally 2061% 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 $11k of loan paydown is wiped out by about $46k 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 + 8.0% rent growth), your $428k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($1.44M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $880k; list at $1.53M implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,437,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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 1924 — 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: 0.98% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $2,148,120
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6920 12th Ave	0.38mi	11/7.0 (-1)	4,800 (+3%)	13mo	$1,300,000	$271	58
1694 64 St St	0.54mi	12/3.0	4,140 (-12%)	15mo	$2,150,000	$519	31
8420 17th Ave	0.74mi	13/7.0 (+1)	5,000 (+7%)	21mo	$2,295,000	$459	27

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 · 7.96% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.80×
• Total profit: $-84,378
• Equity at exit: $227,979

10-year hold

• IRR: 9.7%
• Equity multiple: 1.92×
• Total profit: $393,655
• Equity at exit: $132,200

Cash invested: $428,120 (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 11228

• Rents YoY: 8.0%
• Active inventory: 192
• Price-to-rent: 51.0×

Monthly cashflow live

• Estimated rent: $14,997 medium
• Mortgage (P&I): −$8,018
• Tax from tax record: −$1,864 /mo · $22,369/yr
• Insurance: −$637
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,149
• Net cashflow: $1,328

Break-even live

Break-even rent $13,316

Max offer price $1,529,000

Occupancy floor 86%

Sensitivity live

Price	-10% $2,194	-5% $1,761	+0% $1,328	+5% $895	+10% $463
Rent	-10% $143	-5% $736	+0% $1,328	+5% $1,921	+10% $2,513
Rate	-1.0pp $2,098	-0.5pp $1,717	base $1,328	+0.5pp $932	+1.0pp $529

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$15,000
Total (6 units)			$14,997

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: $382,250
• Closing costs: $45,870
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $1,529,000 Active 78 DOM
2. 2026-06-17
   days on market $1,529,000 Active 77 DOM
3. 2026-06-15
   days on market $1,529,000 Active 75 DOM
4. 2026-06-13
   days on market $1,529,000 Active 73 DOM
5. 2026-06-10
   days on market $1,529,000 Active 69 DOM
6. 2026-06-08
   days on market $1,529,000 Active 68 DOM
7. 2026-06-08
   days on market $1,529,000 Active 67 DOM
8. 2026-06-04
   days on market $1,529,000 Active 64 DOM
9. 2026-06-03
   days on market $1,529,000 Active 63 DOM
10. 2026-06-01
    days on market $1,529,000 Active 61 DOM
11. 2026-05-31
    days on market $1,529,000 Active 60 DOM
12. 2026-04-01
    listed $1,529,000 Active
13. 2008-11-25
    soldstatus $880,000

ⓘ 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: $22,369 · $1,864/mo
• Projected year-2 tax: $24,104 · $2,009/mo
• Expected delta: +$1,736/yr (+$145/mo · 7.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 68% 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: $179,964
• − Mortgage interest: −$85,648
• − Property taxes: −$22,369
• − Insurance: −$7,645
• − Repairs & maintenance: −$14,397
• − Management: −$14,397
• − Depreciation: −$44,480
• Taxable loss: −$8,972
• Est. tax savings @ 24.0%: +$2,153
• After-tax cash flow: $18,092/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): 42,241
• Household income: $83,665
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2061.0

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 0.62)
• Race & ethnicity: White 48% Asian 36% Hispanic / Latino 13% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 42% English-only · Chinese 28% Other Indo-European 12% Spanish 8%

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: ▼ -226.00%
• Current HPI: 381.4834
• Rent YoY: ▲ 7.96%
• 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

+73.8% since first listed

2 events — show timeline

• 2026-04-01 Listed $1,529,000 BNYMLS
• 2008-11-25 Sold (Public Records) $880,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $22,369 · +6.9% YoY. Source: county tax records.