39 Strawberry Ln · New York, NY 10312

$698,000

3 bd · 3.5 ba · 1,890 sqft · MultiFamily public records · 63 Days on market

Built 1982 2,709 sqft lot Est $843k · 17% under

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Why this score? — see what drove the F 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 +15.0/15.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +2.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

HUGE SEMI M/D IN ATLANTIC VILLAGE WITH FABULOUS OCEAN VIEW ON ALL SIDE,HARDWD FLRS,MINT COND.NEW BATHS,NEW WINDOWS,ALL MIRRORED CLOSETS,DOORS, CER.TILE IN KIT,2 LEGAL ELEC.METERS.POOL15X36,OWNER FINANCING.SUB TO E & O. Level 1: B: FULL,FINISHED,2BRS,FULL BATH,UTIL RM,CLOSETS L1: LG LR/DR,EIK,BALCONY,TERRACE IN THE BACK L2: ENTR.STEPS,LG LR,DR,EIK,HUGE DECK,ALL HARDWOOD FLRS,LAUNDRY CLOSET L3: MBR,BR,BR,FULL BATH

Key facts

• 2,709 sq ft lot
• Built 1982
• Listed 63 days

Property features AI

Finance

• HOA & community: Part of Atlantic Village association with monthly fees

Exterior

• Utilities: 220-volt electrical service
• Home design: 3-story property; Built in 2025 (approx); Vinyl siding; Excellent condition
• Construction: Vinyl siding construction; 3 stories
• Exterior features: Balcony; Water view

Interior

• Kitchen: Refrigerator
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Finished basement; Central air

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath multifamily listed at $698k.

Deal economics

• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (62.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (61.5% below list).
• Recommended offer: $262k (62.5% below list) — sets the bar for cash-flow.
• Cap rate 2.0% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 396 active listings in the ZIP; high-income renter base; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($656k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $150k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $400k; list at $698k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $261,969 (62.5% 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 63 days. Have you received any prior offers? Is the seller open to a 62% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.38% ✗
• Cap rate: 2.05%
• Cash-on-cash: -15.16%
• DSCR: 0.33
• GRM: 21.6

CMA / ARV

• ARV (on-the-fly): $842,940
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4796 Hylan Blvd	0.39mi	3/3.5	2,100 (+11%)	8mo	$990,000	$471	57
4396 Hylan Blvd	0.39mi	4/2.5 (+1)	2,089 (+10%)	6mo	$949,000	$454	50
36 Pacific Ave	0.64mi	4/2.5 (+1)	1,750 (-7%)	1mo	$780,000	$446	48
79 Robinson Ave	0.74mi	2/1.5 (-1)	1,800 (-5%)	7mo	$800,000	$444	39
22 Crest Loop	0.66mi	4/2.5 (+1)	2,120 (+12%)	6mo	$860,000	$406	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -40.9%
• Equity multiple: -0.31×
• Total profit: $-256,214
• Equity at exit: $104,074

10-year hold

• IRR: -40.1%
• Equity multiple: -0.85×
• Total profit: $-361,320
• Equity at exit: $60,350

Cash invested: $195,440 (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 10312

• Rents YoY: 8.0%
• Active inventory: 396
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $2,687 medium
• Mortgage (P&I): −$3,660
• Tax from tax record: −$640 /mo · $7,677/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $-2,468

Break-even live

Break-even rent $5,811

Max offer price $261,969

Occupancy floor —

Sensitivity live

Price	-10% $-2,073	-5% $-2,271	+0% $-2,468	+5% $-2,666	+10% $-2,863
Rent	-10% $-2,681	-5% $-2,574	+0% $-2,468	+5% $-2,362	+10% $-2,256
Rate	-1.0pp $-2,117	-0.5pp $-2,291	base $-2,468	+0.5pp $-2,649	+1.0pp $-2,833

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: $174,500
• Closing costs: $20,940
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-08
   days on market $698,000 Active 63 DOM
2. 2026-06-08
   pricedays on market $698,000 Active 62 DOM
3. 2026-06-04
   days on market $798,000 Active 59 DOM
4. 2026-06-03
   days on market $798,000 Active 58 DOM
5. 2026-06-01
   days on market $798,000 Active 56 DOM
6. 2026-05-31
   days on market $798,000 Active 55 DOM
7. 2026-05-14
   price $798,000
8. 2026-04-06
   listed $848,000 Active
9. 2025-05-02
   soldstatus $400,000
10. 2025-02-19
    soldstatus $750,000
11. 2016-02-17
    historical
12. 2004-12-15
    soldstatus $400,000
13. 2003-09-11
    listed $449,900
14. 1998-09-01
    soldstatus $245,000
15. 1998-07-29
    soldstatus $245,000 424-char remark

    Show marketing remark (424 chars)

    HUGE SEMI M/D IN ATLANTIC VILLAGE WITH FABULOUS OCEAN VIEW ON ALL SIDE,HARDWD FLRS,MINT COND.NEW BATHS,NEW WINDOWS,ALL MIRRORED CLOSETS,DOORS, CER.TILE IN KIT,2 LEGAL ELEC.METERS.POOL15X36,OWNER FINANCING.SUB TO E & O. Level 1: B: FULL,FINISHED,2BRS,FULL BATH,UTIL RM,CLOSETS L1: LG LR/DR,EIK,BALCONY,TERRACE IN THE BACK L2: ENTR.STEPS,LG LR,DR,EIK,HUGE DECK,ALL HARDWOOD FLRS,LAUNDRY CLOSET L3: MBR,BR,BR,FULL BATH

16. 1998-01-13
    listed $254,900 424-char remark

    Show marketing remark (424 chars)

    HUGE SEMI M/D IN ATLANTIC VILLAGE WITH FABULOUS OCEAN VIEW ON ALL SIDE,HARDWD FLRS,MINT COND.NEW BATHS,NEW WINDOWS,ALL MIRRORED CLOSETS,DOORS, CER.TILE IN KIT,2 LEGAL ELEC.METERS.POOL15X36,OWNER FINANCING.SUB TO E & O. Level 1: B: FULL,FINISHED,2BRS,FULL BATH,UTIL RM,CLOSETS L1: LG LR/DR,EIK,BALCONY,TERRACE IN THE BACK L2: ENTR.STEPS,LG LR,DR,EIK,HUGE DECK,ALL HARDWOOD FLRS,LAUNDRY CLOSET L3: MBR,BR,BR,FULL BATH

17. 1986-01-21
    soldstatus $180,000

ⓘ 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: $7,677 · $640/mo
• Projected year-2 tax: $9,737 · $811/mo
• Expected delta: +$2,059/yr (+$172/mo · 26.8%)

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

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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $32,244
• − Mortgage interest: −$39,099
• − Property taxes: −$7,677
• − Insurance: −$3,490
• − Repairs & maintenance: −$2,580
• − Management: −$2,580
• − Depreciation: −$20,305
• Taxable loss: −$43,487
• Est. tax savings @ 24.0%: +$10,437
• After-tax cash flow: $-19,182/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 63,469
• Household income: $110,719
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 1081.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Asian 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 5% Romanian 3% Subsaharan African 1%
• Foreign-born: 20% · China, Canada, South Korea
• Languages at home: 72% English-only · Russian/Polish/Slavic 7% Chinese 6% Other Indo-European 6%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -584.96%
• Current HPI: 311.4886
• Rent YoY: ▲ 8.04%
• 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

+343.3% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $798,000 SIBORMLS
• 2026-04-06 Listed $848,000 SIBORMLS
• 2025-05-02 Sold (Public Records) $400,000 Public Records
• 2025-02-19 Sold (Public Records) $750,000 Public Records
• 2016-02-17 Listing Removed — SIBORMLS
• 2004-12-15 Sold (Public Records) $400,000 Public Records
• 2003-09-11 Listed $449,900 SIBORMLS
• 1998-09-01 Sold (Public Records) $245,000 Public Records
• 1998-07-29 Sold (MLS) $245,000 SIBORMLS
• 1998-01-13 Listed $254,900 SIBORMLS
• 1986-01-21 Sold (Public Records) $180,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $7,677 · +6.0% YoY. Source: county tax records.