2850 W 17th St · New York, NY 11224

$1,990,000

30 bd · 36.0 ba · 3,537 sqft · MultiFamily public records · 34 Days on market

Built 1920 2,404 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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 MLS

14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

Key facts

• Hard wood floors
• Quartz countertops
• 6 unit building

Tags

• 6 UNIT BUILDING
• REBUILT FROM THE GROUND UP
• EXCEPTIONAL VERTICAL SPACE
• HARD WOOD FLOORS
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: Financing options: bank mortgage, cash; exchange considered; Income-producing property with six units and current rents reported per unit

Exterior

• Parking: No on-site parking
• Security: Intercom door
• Utilities: Electric service (110V and 220V); Electric hot water; Electric heating; Estimated utility expense listed
• Home design: Attached residential building; Multiple stories (three floors of units)
• Construction: Masonry construction; Flat roof; Block foundation
• Exterior features: Back yard; Brick exterior; Intercom entry

Interior

• Kitchen: Appliances included in each unit (stoves and other standard appliances)
• Bedrooms: Six individual residential units (mix of efficiencies and one-bedroom units)
• Flooring: Hardwood floors throughout
• Bathrooms: Six full bathrooms (one in each unit)
• Heating & cooling: Electric heating with ductless/split heat delivery; 110V and 220V electrical service
• Interior features: Central A/C units (5+); Stove included; Hardwood floors; Separate entrance to basement
• Laundry & utility: Hot water: electric

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1-bath units multifamily listed at $1.99M.

Deal economics

• At list price, monthly cash flow is $8k ($101k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $1.99M).
• Recommended offer: $1.93M (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 (+7.0%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $26,615/mo this rent would consume 732% of the median local household income ($44k/yr) (locally 4426% 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 $113k of equity ($14k loan paydown + $99k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $557k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$181k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($1.93M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $255k; list at $1.99M implies a 680% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 68% 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 $1,930,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1920 — 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: 1.34% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.96%
• DSCR: 1.84
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 2.98×
• Total profit: $1,102,292
• Equity at exit: $1,125,531

10-year hold

• IRR: 31.5%
• Equity multiple: 6.62×
• Total profit: $3,130,763
• Equity at exit: $1,940,717

Cash invested: $557,200 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 37.4×

Monthly cashflow live

• Estimated rent: $26,615 medium
• Mortgage (P&I): −$10,436
• Tax from tax record: −$955 /mo · $11,465/yr
• Insurance: −$829
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,589
• Net cashflow: $8,379

Break-even live

Break-even rent $16,009

Max offer price $1,990,000

Occupancy floor 64%

Sensitivity live

Price	-10% $9,505	-5% $8,942	+0% $8,379	+5% $7,816	+10% $7,252
Rent	-10% $6,276	-5% $7,328	+0% $8,379	+5% $9,430	+10% $10,482
Rate	-1.0pp $9,381	-0.5pp $8,885	base $8,379	+0.5pp $7,863	+1.0pp $7,339

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$26,616
Total (6 units)			$26,615

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: $497,500
• Closing costs: $59,700
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $1,990,000 Active 34 DOM
2. 2026-06-17
   days on market $1,990,000 Active 33 DOM
3. 2026-06-16
   days on market $1,990,000 Active 32 DOM
4. 2026-06-15
   days on market $1,990,000 Active 31 DOM
5. 2026-06-13
   days on market $1,990,000 Active 29 DOM
6. 2026-06-10
   days on market $1,990,000 Active 25 DOM
7. 2026-06-08
   days on market $1,990,000 Active 24 DOM
8. 2026-06-08
   pricedays on market $1,990,000 Active 23 DOM
9. 2026-06-04
   days on market $2,050,000 Active 20 DOM
10. 2026-06-03
    days on market $2,050,000 Active 19 DOM
11. 2026-06-02
    days on market $2,050,000 Active 18 DOM
12. 2026-06-01
    days on market $2,050,000 Active 17 DOM
13. 2026-05-31
    days on market $2,050,000 Active 16 DOM
14. 2026-05-15
    listed $2,050,000 Active
15. 2016-07-15
    soldstatus $255,000 Closed 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

16. 2016-04-06
    price $460,000 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

17. 2015-09-28
    status Pending 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

18. 2015-09-03
    historical 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

19. 2015-09-03
    status Active 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

20. 2015-04-23
    historical 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

21. 2015-04-22
    listed $659,999 Active 68-char remark

    Show marketing remark (68 chars)

    14788H-3 FAMILY BEING SOLD AS IS-SHORT-SALE PENDING. LENDER APPROVAL

22. 2014-12-03
    historical
23. 2010-05-03
    listed $625,000
24. 1999-05-04
    soldstatus $175,000
25. 1992-12-03
    soldstatus $185,000
26. 1984-07-01
    soldstatus $22,000

ⓘ 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: $11,465 · $955/mo
• Projected year-2 tax: $22,548 · $1,879/mo
• Expected delta: +$11,083/yr (+$924/mo · 96.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $319,380
• − Mortgage interest: −$111,471
• − Property taxes: −$11,465
• − Insurance: −$15,068
• − Repairs & maintenance: −$25,550
• − Management: −$25,550
• − Depreciation: −$57,891
• Taxable income: $72,384
• Est. tax owed @ 24.0%: −$17,372
• After-tax cash flow: $83,175/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+9218.2% since first listed

13 events — show timeline

• 2026-05-15 Listed $2,050,000 BNYMLS
• 2016-07-15 Sold (MLS) $255,000 SIBORMLS
• 2016-04-06 Price Changed $460,000 SIBORMLS
• 2015-09-28 Pending — SIBORMLS
• 2015-09-03 Listing Removed — SIBORMLS
• 2015-09-03 Relisted — SIBORMLS
• 2015-04-23 Listing Removed — SIBORMLS
• 2015-04-22 Listed $659,999 SIBORMLS
• 2014-12-03 Listing Removed — SIBORMLS
• 2010-05-03 Listed $625,000 SIBORMLS
• 1999-05-04 Sold (Public Records) $175,000 Public Records
• 1992-12-03 Sold (Public Records) $185,000 Public Records
• 1984-07-01 Sold (Public Records) $22,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $11,465 · +6.9% YoY. Source: county tax records.