347 Lincoln Rd · New York, NY 11225

$2,300,000

16 bd · 8.0 ba · 9,600 sqft · MultiFamily public records · 49 Days on market

Built 1909 3,972 sqft lot ↓ 34% since listing

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Why this score? — see what drove the B+ 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 +29.3/30.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

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

Welcome to 347 Lincoln Road in Beautiful Prospect Heights Brooklyn. This Stunning 8 Family home is ideal for anyone looking to keep a rental property or Live in one of the amazing units and let your rent roll pay your mortgage . This Amazing Trendy location is close to beautiful prospect park, Shops and trendy bars and restaurants. Currently the rent-roll is 197,000 yearly and after the expenses the NOI is about 147,000 yearly . Giving you a cap rate of 7.30% This amazing property has wonderful original details . Currently there are 4 units vacant which makes it ideal to either live in the property combine units for larger living space or possibly rent it as you see fit.

Key facts

• 3,972 sq ft lot
• Built 1909
• Listed 48 days

Property features AI

Finance

• Other: Zoning: R6
• Financial info: Financing available: Bank mortgage or cash

Exterior

• Parking: Street parking
• Utilities: Electric with circuit breakers; Gas service; Hot water from boiler coil
• Home design: Detached building; Residential property; Federal brick exterior; Asphalt/tar roof; Block construction; Block foundation; Building dimensions approximately 75.00 x 32.00
• Construction: Block construction; Federal brick exterior; Asphalt/tar roof; Block foundation; Building footprint approximately 2,400
• Exterior features: Front yard; Back yard; Side yard

Interior

• Kitchen: Includes refrigerator and stove
• Bedrooms: Four bedrooms on level 1; Four bedrooms on level 2; Four bedrooms on level 3; Four bedrooms on level 4
• Flooring: Hardwood floors
• Bathrooms: Two full baths on level 1; Two full baths on level 2; Two full baths on level 3; Two full baths on level 4; Eight full bathrooms total
• Heating & cooling: Gas heat; Baseboard heat delivery; Hot water coil in boiler for hot water
• Interior features: Refrigerator; Stove; Hardwood floors; Full basement
• Laundry & utility: No central AC units reported

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.0-bath units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.30M).
• Recommended offer: $2.23M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+4.3%/yr); 75 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $29,253/mo this rent would consume 396% of the median local household income ($89k/yr) (locally 5410% 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 $174k of equity ($16k loan paydown + $158k appreciation (6.9% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.9% appreciation + 4.3% rent growth), your $644k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$278k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($2.23M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $150k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $2,231,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.27% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.07%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.87% appreciation · 4.33% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 3.07×
• Total profit: $1,334,643
• Equity at exit: $1,573,599

10-year hold

• IRR: 28.2%
• Equity multiple: 6.57×
• Total profit: $3,585,520
• Equity at exit: $2,970,975

Cash invested: $644,000 (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 11225

• Home prices YoY: 1.6%
• Rents YoY: 4.3%
• Active inventory: 75
• Price-to-rent: 52.4×

Monthly cashflow live

• Estimated rent: $29,253 high
• Mortgage (P&I): −$12,061
• Tax from tax record: −$2,002 /mo · $24,022/yr
• Insurance: −$958
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,143
• Net cashflow: $8,022

Break-even live

Break-even rent $19,099

Max offer price $2,300,000

Occupancy floor 68%

Sensitivity live

Price	-10% $9,324	-5% $8,673	+0% $8,022	+5% $7,371	+10% $6,720
Rent	-10% $5,711	-5% $6,866	+0% $8,022	+5% $9,177	+10% $10,333
Rate	-1.0pp $9,180	-0.5pp $8,607	base $8,022	+0.5pp $7,426	+1.0pp $6,819

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$29,256
Total (8 units)			$29,253

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: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $2,300,000 Active 49 DOM
2. 2026-06-17
   days on market $2,300,000 Active 48 DOM
3. 2026-06-16
   days on market $2,300,000 Active 47 DOM
4. 2026-06-15
   days on market $2,300,000 Active 46 DOM
5. 2026-06-13
   days on market $2,300,000 Active 44 DOM
6. 2026-06-10
   days on market $2,300,000 Active 40 DOM
7. 2026-06-08
   days on market $2,300,000 Active 39 DOM
8. 2026-06-08
   days on market $2,300,000 Active 38 DOM
9. 2026-06-04
   days on market $2,300,000 Active 35 DOM
10. 2026-06-03
    days on market $2,300,000 Active 34 DOM
11. 2026-06-01
    days on market $2,300,000 Active 32 DOM
12. 2026-05-31
    days on market $2,300,000 Active 31 DOM
13. 2026-05-21
    price $2,300,000
14. 2026-04-30
    listed $2,450,000 Active
15. 2024-11-01
    historical
16. 2023-11-08
    price $1,990,000
17. 2023-10-24
    status Active
18. 2023-09-30
    historical
19. 2023-07-25
    price $2,499,000
20. 2023-03-17
    listed $3,500,000 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: $24,022 · $2,002/mo
• Projected year-2 tax: $31,446 · $2,621/mo
• Expected delta: +$7,424/yr (+$619/mo · 30.9%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $351,036
• − Mortgage interest: −$128,836
• − Property taxes: −$24,022
• − Insurance: −$12,298
• − Repairs & maintenance: −$28,083
• − Management: −$28,083
• − Depreciation: −$66,909
• Taxable income: $62,806
• Est. tax owed @ 24.0%: −$15,073
• After-tax cash flow: $81,188/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): 58,158
• Household income: $88,568
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 5410.0

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 0.63)
• Race & ethnicity: Black 53% White 27% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 5% Romanian 2% Italian 2%
• Foreign-born: 32% · Canada, Jamaica, Mexico
• Languages at home: 76% English-only · Spanish 8% French/Haitian/Cajun 7% German/W. Germanic 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: ▲ 6.87%
• Current HPI: 446.6541
• Rent YoY: ▲ 4.33%
• 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

-34.3% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $2,300,000 BNYMLS
• 2026-04-30 Listed $2,450,000 BNYMLS
• 2024-11-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-08 Price Changed $1,990,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-25 Price Changed $2,499,000 OneKey® MLS as Distributed by MLS Grid
• 2023-03-17 Listed $3,500,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $24,022 · -1.0% YoY. Source: county tax records.