215 Adams St · New York, NY 11201

$995,000

2 bd · 1.0 ba · 834 sqft · MultiFamily · 35 Days on market

Built 1950 Fair condition

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Why this score? — see what drove the D 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).

• Appreciation +8.0/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.4/10.0
• Condition / age +2.2/5.0
• DSCR +1.9/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 Brooklyn Heights location! This incredible 850 sqft. two bedroom coop is an amazing find! The unit boasts hardwood and tile floors, breathtaking views of the NYC skyline, 2 spacious bedrooms with plenty of closet and storage space, a laundry area, exercise room, storage room, full time doorman, elevator, secure lobby, rooftop deck, a wait-list for parking, and is pet friendly. Amenities include quick and easy access to the multitude of establishments along Jay St. & amp; Atlantic Ave. , P. S. 8, P. S. 32, P. S. 261, New York City College of Technology, Whitman Park, Cadman Plaza Park, Trinity Park, McLaughlin Park, and much more! Transportation options include immediate access to

Key facts

• Storage room
• Laundry area
• Exercise room

Tags

• BROOKLYN HEIGHTS LOCATION
• HARDWOOD AND TILE FLOORS
• LAUNDRY AREA
• EXERCISE ROOM
• STORAGE ROOM
• FULL TIME DOORMAN

Property features AI

Exterior

• Home design: Built in 1950
• Construction: Living area approximately 834 square feet
• Exterior features: Street address: 215 Adams St, Brooklyn, NY 11201

Interior

• Interior features: Located in Downtown Brooklyn

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $995k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $840k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $735k (26.1% below list).
• Recommended offer: $735k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 405 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,349/mo this rent would consume 51% of the median local household income ($173k/yr) (locally 4080% 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 $66k of equity ($7k loan paydown + $59k appreciation (6.0% 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 ~$106k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($965k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $734,900 (26.1% 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 35 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.74% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.97% appreciation · 5.39% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.84×
• Total profit: $235,270
• Equity at exit: $623,337

10-year hold

• IRR: 13.9%
• Equity multiple: 3.82×
• Total profit: $786,661
• Equity at exit: $1,128,529

Cash invested: $278,600 (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 11201

• Home prices YoY: 1.9%
• Rents YoY: 5.4%
• Active inventory: 405
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $7,349 medium
• Mortgage (P&I): −$5,218
• Tax est. 1.5%: −$1,244 /mo · $14,925/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,543
• Net cashflow: $-1,071

Break-even live

Break-even rent $8,704

Max offer price $840,095

Occupancy floor —

Sensitivity live

Price	-10% $-383	-5% $-727	+0% $-1,071	+5% $-1,414	+10% $-1,758
Rent	-10% $-1,651	-5% $-1,361	+0% $-1,071	+5% $-780	+10% $-490
Rate	-1.0pp $-569	-0.5pp $-817	base $-1,071	+0.5pp $-1,328	+1.0pp $-1,591

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,348
Total (2 units)			$7,349

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Montague St #1516 Brooklyn, NY	1.0	1.0	600	$7,500	$12.50	22d	1	0.28mi
180 Montague St Brooklyn, NY	3.0	1.0–2.0	901	$6,389	$7.09	1d	12	0.30mi
111 Lawrence St Brooklyn, NY	3.0	1.0–2.0	950	$5,503	$5.79	0d	22	0.30mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$6,719	$7.44	6d	1	0.34mi
100 Jay St Unit 6B Brooklyn, NY	1.0	1.0	800	$4,600	$5.75	26d	1	0.35mi
150 Lawrence St Brooklyn, NY	1.0–2.0	1.0–2.0	700	$5,340	$7.63	1d	2	0.38mi
100 Willoughby St Brooklyn, NY	3.0	1.0–2.0	892	$7,100	$7.96	9d	1	0.38mi
141 Joralemon St #819 Brooklyn, NY	1.0–3.0	1.0–2.0	750	$6,730	$8.97	1d	3	0.40mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$6,427	$6.72	0d	1	0.40mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$8,270	$11.68	1d	2	0.42mi
241 Atlantic Ave #879 Brooklyn, NY	1.0–3.0	1.0–2.0	1098	$8,100	$7.37	1d	3	0.54mi
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$7,921	$11.05	0d	7	0.55mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$7,050	$10.07	26d	2	0.59mi
540 Fulton St #1729 Brooklyn, NY	3.0	1.0–2.0	750	$7,563	$10.08	26d	4	0.66mi
333 Schermerhorn St Brooklyn, NY	1.0	1.0	585	$6,782	$11.58	0d	15	0.77mi
252 South St Unit 74B New York, NY	2.0	2.0	1034	$8,995	$8.70	19d	1	0.98mi
211 Front St Unit 1255364P New York, NY	1.0	1.0	990	$11,206	$11.32	26d	1	1.04mi
151 S Elliott Pl Brooklyn, NY	1.0–2.0	1.0–2.0	655	$6,380	$9.74	3d	2	1.09mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$9,400	$12.91	4d	2	1.15mi
95 Wall St New York, NY	2.0	1.0–2.0	881	$8,263	$9.37	1d	33	1.16mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	26d	1	1.19mi
10 Hanover Sq New York, NY	2.0	1.0–2.0	790	$7,713	$9.76	1d	25	1.21mi
461 Dean St Brooklyn, NY	1.0	1.0	781	$5,320	$6.81	7d	5	1.22mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$7,380	$11.59	4d	2	1.22mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$7,530	$9.72	4d	3	1.23mi
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$8,290	$11.05	1d	3	1.23mi
63 Wall St #1971 New York, NY	1.0	1.0	489	$5,120	$10.46	1d	2	1.24mi
3 Hanover Sq New York, NY	3.0	1.0–2.0	600	$6,072	$10.12	26d	5	1.26mi
11 Wharf Way Brooklyn, NY	1.0	1.0	610	$4,870	$7.98	1d	2	1.26mi
15 William St New York, NY	1.0–2.0	1.0–2.0	822	$6,550	$7.96	9d	10	1.31mi
8 Spruce St Unit 31S New York, NY	3.0	2.0	1100	$8,000	$7.27	9d	1	1.32mi
655 Union St #1846 Brooklyn, NY	1.0–2.0	1.0–2.0	727	$7,810	$10.74	4d	2	1.36mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$10,630	$12.51	3d	2	1.39mi
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$6,596	$8.17	0d	6	1.41mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	24d	1	1.43mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$9,670	$11.38	3d	2	1.47mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$6,280	$10.47	4d	3	1.48mi

Listing history 13 events

1. 2026-06-21
   days on market $995,000 Active 35 DOM
2. 2026-06-18
   days on market $995,000 Active 32 DOM
3. 2026-06-17
   days on market $995,000 Active 31 DOM
4. 2026-06-15
   days on market $995,000 Active 29 DOM
5. 2026-06-13
   days on market $995,000 Active 27 DOM
6. 2026-06-10
   days on market $995,000 Active 23 DOM
7. 2026-06-08
   days on market $995,000 Active 22 DOM
8. 2026-06-03
   days on market $995,000 Active 17 DOM
9. 2026-06-01
   days on market $995,000 Active 15 DOM
10. 2026-05-31
    days on market $995,000 Active 14 DOM
11. 2026-05-17
    listed $995,000 Active
12. 2025-02-22
    historical $2,500
13. 2025-01-15
    listed $2,500

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $88,188
• − Mortgage interest: −$55,735
• − Property taxes: −$14,925
• − Insurance: −$4,975
• − Repairs & maintenance: −$7,055
• − Management: −$7,055
• − Depreciation: −$28,945
• Taxable loss: −$30,503
• Est. tax savings @ 24.0%: +$7,321
• After-tax cash flow: $-5,525/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

A fair condition multi-family property in Brooklyn Heights with some cosmetic repairs and maintenance needed. Potential for significant value increase with exterior painting and landscaping improvements.

Repairs flagged

• Minor Exterior paint — Some discoloration visible on the brick building
• Minor Landscaping — Needs trimming and better maintenance

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Some discoloration visible on the brick building	Minor	$500–3,000
Landscaping · Needs trimming and better maintenance	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 70,674
• Household income: $173,136
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 4080.0

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 58% Asian 14% Black 12% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 7% Chinese 6% Other Indo-European 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: ▲ 5.97%
• Current HPI: 321.3623
• Rent YoY: ▲ 5.39%
• 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

+39700.0% since first listed

3 events — show timeline

• 2026-05-17 Listed $995,000 FSBO.com
• 2025-02-22 Rental Removed $2,500 PROPERTYWARE
• 2025-01-15 Listed for Rent $2,500 PROPERTYWARE