1554 Saint Marks Ave · New York, NY 11233

$1,280,000

9 bd · 5.1 ba · 4,800 sqft · MultiFamily public records · 266 Days on market

Built 2003 2,555 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 +11.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Three-Family Residence – Exceptional Investment Opportunity This well-maintained, three-dwelling brick property offers a total of 9 bedrooms and 5 bathrooms, providing both space and flexibility for end-users or investors. Second Floor Vacant Lot Size: 20 ft x 127.75 ft Building Dimensions: 20 ft x 60 ft Total Living Space: Approx. 4,800 sq ft (1,200 sq ft per unit) Utilities: Each unit is individually metered with 3 separate gas boilers Basement: Full basement offering ample storage and potential for various uses Construction: Solid brick exterior – highly durable and well-suited for future conversions Zoning: R6 – allowing for a range of redevelopment or expansion possi

Key facts

• Private driveway
• Full basement
• Well maintained

Tags

• THREE FAMILY RESIDENCE
• WELL MAINTAINED
• SOLID BRICK EXTERIOR
• FULL BASEMENT
• PRIVATE DRIVEWAY
• PRIME BROOKLYN LOCATION

Property features AI

Exterior

• Parking: Driveway; On-street parking; One garage space
• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Public sewer connection; Public water connection; Trash collection
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Back yard

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Three 3-bedroom units
• Bathrooms: Five full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Entrance foyer; Washer/dryer hookup; Full, unfinished walk-out basement
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $1.28M.

Deal economics

• At list price, monthly cash flow is $-405 ($-5k/yr) — negative. Per door: $-135/mo.
• To cash-flow at today's rent, offer at most $1.21M (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $974k (23.9% below list).
• Recommended offer: $974k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+6.4%/yr); 152 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,740/mo this rent would consume 187% of the median local household income ($62k/yr) (locally 6960% 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 $137k of equity ($9k loan paydown + $128k appreciation (10.0% 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 ~$220k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.
• Current owner paid $50k; list at $1.28M implies a 2460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $974,000 (23.9% 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 266 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.76% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.97×
• Total profit: $705,889
• Equity at exit: $1,153,125

10-year hold

• IRR: 22.4%
• Equity multiple: 7.08×
• Total profit: $2,179,668
• Equity at exit: $2,486,758

Cash invested: $358,400 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 32.9×

Monthly cashflow live

• Estimated rent: $9,740 high
• Mortgage (P&I): −$6,712
• Tax from tax record: −$854 /mo · $10,246/yr
• Insurance: −$533
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,045
• Net cashflow: $-405

Break-even live

Break-even rent $10,253

Max offer price $1,208,452

Occupancy floor 99%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$9,741
Total (3 units)			$9,740

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: $320,000
• Closing costs: $38,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $1,280,000 Active 266 DOM
2. 2026-06-17
   days on market $1,280,000 Active 265 DOM
3. 2026-06-15
   days on market $1,280,000 Active 263 DOM
4. 2026-06-13
   days on market $1,280,000 Active 261 DOM
5. 2026-06-10
   days on market $1,280,000 Active 257 DOM
6. 2026-06-08
   days on market $1,280,000 Active 256 DOM
7. 2026-06-03
   days on market $1,280,000 Active 251 DOM
8. 2026-06-01
   days on market $1,280,000 Active 249 DOM
9. 2026-05-31
   days on market $1,280,000 Active 248 DOM
10. 2026-04-13
    price $1,280,000
11. 2025-09-25
    listed $1,300,000 Active
12. 2025-04-04
    historical
13. 2024-10-28
    listed $1,599,000 Active
14. 2015-01-10
    historical
15. 2014-01-10
    listed $499,999
16. 2013-12-09
    historical
17. 2012-12-09
    listed $499,999
18. 2002-11-13
    soldstatus $50,000

ⓘ 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: $10,246 · $854/mo
• Projected year-2 tax: $15,939 · $1,328/mo
• Expected delta: +$5,693/yr (+$474/mo · 55.6%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $116,880
• − Mortgage interest: −$71,700
• − Property taxes: −$10,246
• − Insurance: −$6,400
• − Repairs & maintenance: −$9,350
• − Management: −$9,350
• − Depreciation: −$37,236
• Taxable loss: −$27,403
• Est. tax savings @ 24.0%: +$6,577
• After-tax cash flow: $1,717/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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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 (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

+2460.0% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $1,280,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-25 Listed $1,300,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-28 Listed $1,599,000 OneKey® MLS as Distributed by MLS Grid
• 2015-01-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-01-10 Listed $499,999 OneKey® MLS as Distributed by MLS Grid
• 2013-12-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-12-09 Listed $499,999 OneKey® MLS as Distributed by MLS Grid
• 2002-11-13 Sold (Public Records) $50,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $10,246 · -0.5% YoY. Source: county tax records.