61 E 54th St · New York, NY 11203

$575,000

6 bd · 4.0 ba · 1,767 sqft · MultiFamily public records · 20 Days on market

Built 1945 2,200 sqft lot Est $882k · 35% under ↓ 12% since listing

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

An East Flatbush centrally located, fully attached, all-brick two-family home with parking. It has a front porch and a rear deck overlooking your gardens. This charming home will need renovation to unlock its full potential. Upstairs, the owner space with hardwood flooring throughout enjoys a generous 20’-long living room with a classic arched ceiling that adds to the home's charm. The well-sized kitchen benefits from an adjacent formal dining room, making entertaining seamless. Two rear-facing bedrooms overlook the garden, one with direct access to the rear deck. The ground-level one-bedroom apartment has a private front entrance and access to the rear garden. Collect income or combine this unit with to maximize owner space. The property will be Delivered Vacant.

Key facts

• 2,200 sq ft lot
• 2 parking spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive. Per door: $162/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 $520k (9.6% below list).
• Recommended offer: $520k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 $5,197/mo this rent would consume 92% 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 $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($566k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $519,700 (9.6% 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. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $881,733
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
752 Lenox Rd	0.33mi	5/3.0 (-1)	1,844 (+4%)	4mo	$920,000	$499	65
474 E 52nd St	0.60mi	6/3.0	1,960 (+11%)	8mo	$997,000	$509	44
5910 Snyder Ave	0.58mi	5/3.0 (-1)	1,920 (+9%)	22mo	$775,000	$404	31

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 · 2.89% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-73,157
• Equity at exit: $85,734

10-year hold

• IRR: -3.7%
• Equity multiple: 0.75×
• Total profit: $-39,650
• Equity at exit: $49,715

Cash invested: $161,000 (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: 18.4×

Monthly cashflow live

• Estimated rent: $5,197 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$527 /mo · $6,321/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,091
• Net cashflow: $324

Break-even live

Break-even rent $4,787

Max offer price $575,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,198
Total (2 units)			$5,197

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2023-10-29
   status Pending

   Show marketing remark (781 chars)

   An East Flatbush centrally located, fully attached, all-brick two-family home with parking. It has a front porch and a rear deck overlooking your gardens. This charming home will need renovation to unlock its full potential. Upstairs, the owner space with hardwood flooring throughout enjoys a generous 20’-long living room with a classic arched ceiling that adds to the home's charm. The well-sized kitchen benefits from an adjacent formal dining room, making entertaining seamless. Two rear-facing bedrooms overlook the garden, one with direct access to the rear deck. The ground-level one-bedroom apartment has a private front entrance and access to the rear garden. Collect income or combine this unit with to maximize owner space. The property will be Delivered Vacant.

2. 2023-10-29
   status Pending 781-char remark

   Show marketing remark (781 chars)

   An East Flatbush centrally located, fully attached, all-brick two-family home with parking. It has a front porch and a rear deck overlooking your gardens. This charming home will need renovation to unlock its full potential. Upstairs, the owner space with hardwood flooring throughout enjoys a generous 20’-long living room with a classic arched ceiling that adds to the home's charm. The well-sized kitchen benefits from an adjacent formal dining room, making entertaining seamless. Two rear-facing bedrooms overlook the garden, one with direct access to the rear deck. The ground-level one-bedroom apartment has a private front entrance and access to the rear garden. Collect income or combine this unit with to maximize owner space. The property will be Delivered Vacant.

3. 2023-10-10
   listed $575,000 Active
4. 2023-10-09
   listed $575,000 Active

   Show marketing remark (781 chars)

   An East Flatbush centrally located, fully attached, all-brick two-family home with parking. It has a front porch and a rear deck overlooking your gardens. This charming home will need renovation to unlock its full potential. Upstairs, the owner space with hardwood flooring throughout enjoys a generous 20’-long living room with a classic arched ceiling that adds to the home's charm. The well-sized kitchen benefits from an adjacent formal dining room, making entertaining seamless. Two rear-facing bedrooms overlook the garden, one with direct access to the rear deck. The ground-level one-bedroom apartment has a private front entrance and access to the rear garden. Collect income or combine this unit with to maximize owner space. The property will be Delivered Vacant.

5. 2023-10-09
   listed $575,000 Active 781-char remark

   Show marketing remark (781 chars)

   An East Flatbush centrally located, fully attached, all-brick two-family home with parking. It has a front porch and a rear deck overlooking your gardens. This charming home will need renovation to unlock its full potential. Upstairs, the owner space with hardwood flooring throughout enjoys a generous 20’-long living room with a classic arched ceiling that adds to the home's charm. The well-sized kitchen benefits from an adjacent formal dining room, making entertaining seamless. Two rear-facing bedrooms overlook the garden, one with direct access to the rear deck. The ground-level one-bedroom apartment has a private front entrance and access to the rear garden. Collect income or combine this unit with to maximize owner space. The property will be Delivered Vacant.

6. 2023-08-08
   historical
7. 2023-07-22
   listed $650,000 Active

ⓘ 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: $6,321 · $527/mo
• Projected year-2 tax: $8,019 · $668/mo
• Expected delta: +$1,698/yr (+$142/mo · 26.9%)

ⓘ 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 6/10 Major 7 d/yr ≥99°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: $62,364
• − Mortgage interest: −$32,209
• − Property taxes: −$6,321
• − Insurance: −$2,875
• − Repairs & maintenance: −$4,989
• − Management: −$4,989
• − Depreciation: −$16,727
• Taxable loss: −$5,746
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $5,266/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): 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

-11.5% since first listed

7 events — show timeline

• 2023-10-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-10-29 Pending — BNYMLS
• 2023-10-10 Listed $575,000 RLS at REBNY
• 2023-10-09 Listed $575,000 BNYMLS
• 2023-10-09 Listed $575,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-22 Listed $650,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $6,321 · -2.4% YoY. Source: county tax records.