5709 5th Ave · New York, NY 11220

$2,780,000

96 bd · 48.0 ba · 6,500 sqft · MultiFamily · 1082 Days on market

Built 1904 2,500 sqft lot

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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 +17.2/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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

Prime Sunset Park 8 Unit Mixed-use building! Lot: 25X100 Building: 25X65X4 stories=6,500 Sq. Ft Zoning: R6A, C2-4 Gross Income: $206,520 Great investment opportunity in prime Sunset Park location with high visibility and heavy foot traffic! The property contains two stores on the first floor, and six(6), two bedroom apartments above the commercial stores. The building is fully leased with stable and current tenants. The property is located in the busiest stretch of 5th Avenue retail section, one block away from R train station on 4th Avenue, bus route on 4th Avenue, 5th Avenue, 60th Street and highway access minutes away. It is also minutes away from Sunset park, 8th Avenue retai

Key facts

• 2,500 sq ft lot
• Built 1904
• Listed 1082 days

Property features AI

Finance

• Other: Zoning: R6A, C2-4; Eight-unit building (two commercial units on first floor: one leased restaurant and one leased retail; six residential 2-bedroom units); Residential units are month-to-month; Total building area approximately 6,500
• Financial info: Financing options considered: exchange, bank mortgage, or cash

Exterior

• Parking: No parking on site
• Utilities: Electric: 110V, 220V with circuit breakers; Hot water: gas; Heating fuel: gas
• Home design: Mixed-use building; Flat roof
• Construction: Brick construction; Poured concrete foundation; Building footprint approximately 1,625 (dimensions 65.00 x 25.00)
• Exterior features: Back yard; Attached building; Mixed-use property

Interior

• Kitchen: Units include oven/range and refrigerator (appliances included)
• Bedrooms: Six 2-bedroom units (located on floors 2, 3 and 4)
• Flooring: Hardwood floors throughout units
• Bathrooms: Each 2-bedroom unit has one full bathroom
• Heating & cooling: Gas-fired hot water; Baseboard heat
• Interior features: Finished basement with a separate entrance; Hardwood floors; Ceilings noted as 'other' height (see remarks)
• Laundry & utility: Water included for residential units

What this means for you Summary

Snapshot

• This is a 8 × 12-bed/6.0-bath units multifamily listed at $2.78M.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $245/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 $2.68M (3.6% below list).
• Recommended offer: $2.45M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $26,803/mo this rent would consume 460% of the median local household income ($70k/yr) (locally 6563% 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 $176k of equity ($19k loan paydown + $157k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $778k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$281k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 1082 days — a 12% lower offer ($2.45M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,446,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 1082 days. Have you received any prior offers? Is the seller open to a 12% 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 1904 — 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: 0.96% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.30×
• Total profit: $1,009,479
• Equity at exit: $1,683,570

10-year hold

• IRR: 21.0%
• Equity multiple: 5.16×
• Total profit: $3,240,909
• Equity at exit: $2,999,262

Cash invested: $778,400 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 69.1×

Monthly cashflow live

• Estimated rent: $26,803 medium
• Mortgage (P&I): −$14,579
• Tax est. 1.5%: −$3,475 /mo · $41,700/yr
• Insurance: −$1,158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,629
• Net cashflow: $1,962

Break-even live

Break-even rent $24,319

Max offer price $2,780,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 8× units	12	6	$26,800
Total (8 units)			$26,803

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: $695,000
• Closing costs: $83,400
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $2,780,000 Active 1082 DOM
2. 2026-06-17
   days on market $2,780,000 Active 1081 DOM
3. 2026-06-15
   days on market $2,780,000 Active 1079 DOM
4. 2026-06-13
   days on market $2,780,000 Active 1077 DOM
5. 2026-06-10
   days on market $2,780,000 Active 1073 DOM
6. 2026-06-08
   days on market $2,780,000 Active 1072 DOM
7. 2026-06-03
   days on market $2,780,000 Active 1067 DOM
8. 2026-06-01
   days on market $2,780,000 Active 1065 DOM
9. 2026-05-31
   days on market $2,780,000 Active 1064 DOM
10. 2023-07-02
    listed $2,780,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $321,636
• − Mortgage interest: −$155,723
• − Property taxes: −$41,700
• − Insurance: −$13,900
• − Repairs & maintenance: −$25,731
• − Management: −$25,731
• − Depreciation: −$80,873
• Taxable loss: −$22,022
• Est. tax savings @ 24.0%: +$5,285
• After-tax cash flow: $28,834/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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 0.65)
• Race & ethnicity: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

• 2023-07-02 Listed $2,780,000 BNYMLS