575 Warren St Unit 4R · New York, NY 11217

$710,000

2 bd · 1.0 ba · 730 sqft · Condo · 190 Days on market

Built 1931 ↓ 5% 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 +12.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Fourth floor walk up on a tree lined block. Use of the backyard and a storage unit in the basement. Unit includes two bedrooms with a bonus room, kitchen, bathroom, living room. Walking distance to the Barclay Center, shopping area, transportation, banks, super markets, etc. Lots of potential.

Key facts

• Transportation
• Backyard
• Super markets

Tags

• TREE LINED BLOCK
• BACKYARD
• STORAGE UNIT
• SHOPPING AREA
• TRANSPORTATION
• SUPER MARKETS

Property features AI

Exterior

• Parking: Off-site parking
• Utilities: Public sewer; Electricity available and connected; Natural gas available and connected; Public trash collection; Water available and connected
• Home design: Townhouse; Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total rooms: 5; Finished basement
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; No central cooling
• Interior features: Eat-in kitchen; Kitchen island; Pantry; Primary bathroom; Storage
• Laundry & utility: Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $710k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $693k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $607k (14.6% below list).
• Recommended offer: $607k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+6.7%/yr); 124 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• This rent runs 45% of the median local income ($163k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $76k of equity ($5k loan paydown + $71k 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 ~$122k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($625k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $606,503 (14.6% 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 190 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 0.85% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 3.03×
• Total profit: $402,851
• Equity at exit: $639,624

10-year hold

• IRR: 23.1%
• Equity multiple: 7.27×
• Total profit: $1,247,424
• Equity at exit: $1,379,374

Cash invested: $198,800 (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 11217

• Home prices YoY: 2.5%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $6,065 high
• Mortgage (P&I): −$3,723
• Tax est. 1.5%: −$888 /mo · $10,650/yr
• Insurance: −$296
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,274
• Net cashflow: $-115

Break-even live

Break-even rent $6,211

Max offer price $693,319

Occupancy floor 97%

Sensitivity live

Price	-10% $375	-5% $130	+0% $-115	+5% $-361	+10% $-606
Rent	-10% $-594	-5% $-355	+0% $-115	+5% $124	+10% $364
Rate	-1.0pp $242	-0.5pp $65	base $-115	+0.5pp $-299	+1.0pp $-486

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: $177,500
• Closing costs: $21,300
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
461 Dean St Brooklyn, NY	1.0	1.0	781	$5,320	$6.81	5d	5	0.29mi
655 Union St #1846 Brooklyn, NY	1.0–2.0	1.0–2.0	727	$7,810	$10.74	3d	2	0.32mi
333 Schermerhorn St Brooklyn, NY	1.0	1.0	585	$6,782	$11.58	4d	16	0.36mi
151 S Elliott Pl Brooklyn, NY	1.0–2.0	1.0–2.0	655	$6,380	$9.74	2d	2	0.37mi
540 Fulton St #1729 Brooklyn, NY	3.0	1.0–2.0	750	$7,563	$10.08	25d	4	0.48mi
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$7,921	$11.05	0d	8	0.67mi
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$6,596	$8.17	4d	7	0.68mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$4,946	$5.17	0d	1	0.70mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$6,280	$10.47	3d	3	0.72mi
100 Willoughby St Brooklyn, NY	3.0	1.0–2.0	892	$7,100	$7.96	8d	1	0.72mi
150 Lawrence St Brooklyn, NY	1.0–2.0	1.0–2.0	700	$5,340	$7.63	0d	2	0.73mi
72 Willoughby St Brooklyn, NY	1.0–2.0	1.0	487	$4,080	$8.37	2d	2	0.73mi
111 Lawrence St Brooklyn, NY	3.0	1.0–2.0	950	$5,452	$5.74	0d	24	0.80mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$6,719	$7.44	5d	1	0.84mi
200 Montague St #1516 Brooklyn, NY	1.0	1.0	600	$7,500	$12.50	21d	1	0.97mi
180 Montague St Brooklyn, NY	3.0	1.0–2.0	901	$6,389	$7.09	0d	12	1.01mi
141 Joralemon St #819 Brooklyn, NY	1.0–3.0	1.0–2.0	750	$6,730	$8.97	0d	3	1.01mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.10mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	25d	1	1.28mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$8,270	$11.68	0d	2	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-17
   status Pending
2. 2025-11-14
   price $710,000
3. 2025-10-07
   listed $749,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 58% 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 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: $72,780
• − Mortgage interest: −$39,771
• − Property taxes: −$10,650
• − Insurance: −$3,550
• − Repairs & maintenance: −$5,822
• − Management: −$5,822
• − Depreciation: −$20,655
• Taxable loss: −$13,490
• Est. tax savings @ 24.0%: +$3,238
• After-tax cash flow: $1,854/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): 43,490
• Household income: $162,863
• Rent vs Own: 72.2% rent · 27.8% own
• Severe rent burden: 2688.0

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 0.69)
• Race & ethnicity: White 50% Black 16% Hispanic / Latino 16% Two or more races 15% Asian 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 11% French/Haitian/Cajun 4% 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: ▲ 11.76%
• Current HPI: 491.2658
• Rent YoY: ▲ 6.70%
• 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

-5.2% since first listed

3 events — show timeline

• 2026-04-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $710,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-07 Listed $749,000 OneKey® MLS as Distributed by MLS Grid