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437 Bay Ridge Ave 6-Plex
A- Composite 84.05
Why this score? — see what drove the A- 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 +9.6/10.0
  • Appreciation +7.8/10.0
  • ARV discount +7.5/15.0
  • Schools +6.7/10.0
  • Rent growth +5.0/5.0
  • Livability +3.8/5.0
  • Condition / age +3.8/5.0

$999,000

437 Bay Ridge Ave · New York, NY 11220
36 bd · 36.0 ba · 4,125 sqft · MultiFamily public records · 226 Days on market
Built 1931 Good condition 2,500 sqft lot $242/sqft · 66% below area ↓ 5% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

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

437 Bay Ridge Avenue presents a well-maintained, fully occupied six-family building located in the heart of Bay Ridge, Brooklyn. This asset offers stable in-place income with strong upside potential, making it an ideal opportunity for both seasoned investors and end-users seeking long-term appreciation in a highly desirable neighborhood. Positioned in a vibrant, amenity-rich area, the property benefits from strong rental demand driven by accessibility, retail corridors, and public transportation. Gross Income is $103,152; Total Annual Expenses are $37,040; Net Operating Income (NOI) is $66,112. This property is being offered at 6.41% CAP Rate.

Key facts

  • 2,500 sq ft lot
  • Built 1931
  • Listed 225 days

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 6 × 2-bed/1.5-bath units multifamily listed at $999k. Condition is rated good.
  • This rent per unit runs 42% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

  • At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $708/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($15k rent vs $999k).
  • Recommended offer: $879k (12.0% below list) — sets the bar for market timing.
  • Cap rate 11.4% 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: Ps/Is 30 Mary White Ovington (math 44% / reading 44%, grade F, #1,349 of 2,108 statewide, top 64%, 911 students, 82% FRL); Christa Mcauliffe School (The) /Is 187 (math 94% / reading 96%, grade A+, #3 of 729 statewide, top 0%, 928 students, 76% 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 (+11.0%/yr); 384 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).

Forward outlook

  • In year one you build about $63k of equity ($7k loan paydown + $56k appreciation (5.6% local appreciation)).
  • Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
  • At projected returns (5.6% appreciation + 8.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
  • By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 226 days — a 12% lower offer ($879k) 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 wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $879,120 (12.0% below list)

Questions for the listing agent

  1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% 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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  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
1.46% ✓
Cap rate
11.39%
Cash-on-cash
18.21%
DSCR
1.81
GRM
5.7

CMA / ARV

ARV (median comp)
$2,896,802
List price
$999,000
Delta
-65.51%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold
IRR
33.2%
Equity multiple
3.20×
Total profit
$614,480
Equity at exit
$604,995
10-year hold
IRR
33.6%
Equity multiple
7.41×
Total profit
$1,793,394
Equity at exit
$1,077,792

Cash invested: $279,720 (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.

Active competition Active MLS

For sale now
1 active
Median asking
$1,625,000 ($339/sqft)
Median days on market
664 d
This list price
lowest-priced of the active set
ARV vs active asking
+107.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 11220

Home prices YoY
2.5%
Rents YoY
11.0%
Active inventory
384
Price-to-rent
34.4×

Monthly cashflow live

Estimated rent
$14,540 high interval (Pro) →
Mortgage (P&I)
−$5,239
Tax from tax record
−$1,586 /mo · $19,029/yr
Insurance
−$416
HOA
−$0
Vacancy / Maint / Mgmt
−$3,053
Net cashflow
$4,246

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

UnitsBedsBathsEst. rent
Total (6 units) $14,540

Break-even live

Break-even rent $9,166
Max offer price $999,000
Occupancy floor 66%

Sensitivity live

Price -10% $4,811 -5% $4,529 +0% $4,246 +5% $3,963 +10% $3,680
Rent -10% $3,097 -5% $3,671 +0% $4,246 +5% $4,820 +10% $5,394
Rate -1.0pp $4,749 -0.5pp $4,500 base $4,246 +0.5pp $3,987 +1.0pp $3,724

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
$249,750
Closing costs
$29,970
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
532 72nd St Unit 2 Brooklyn, NY 3.0 1.0 — $3,150 — 10d 1 0.21mi
6717 6th Ave Unit 2 Brooklyn, NY 1.0 1.0 700 $2,200 $3.14 159d 1 0.22mi
563 72nd St Unit 1 Brooklyn, NY 2.0 1.0 — $3,300 — 7d 1 0.23mi
563 72nd St Brooklyn, NY 2.0 1.0 — $3,300 — 6d 1 0.23mi
563 72nd St Unit 1 Brooklyn, NY 2.0 1.0 — $3,300 — 3d 1 0.23mi
6921 6th Ave #2 Brooklyn, NY 2.0 1.0 — $2,900 — 5d 1 0.24mi
7026 6th Ave #2 Brooklyn, NY 3.0 2.0 1400 $3,600 $2.57 10d 1 0.25mi
7012 3rd Ave Unit Top Brooklyn, NY 2.0 1.5 — $3,500 — 6d 1 0.25mi
258 Senator St Unit 2fl Brooklyn, NY 3.0 1.0 — $3,800 — 165d 1 0.33mi
7515 5th Ave Unit 2 Brooklyn, NY 3.0 1.0 1100 $3,000 $2.73 10d 1 0.35mi
350 77th St Unit 2 Brooklyn, NY 2.0 1.0 — $2,200 — 10d 1 0.40mi
191 73rd St Unit 219a Brooklyn, NY 1.0 1.0 625 $2,400 $3.84 10d 1 0.43mi
7910 4th Ave Unit 5R Brooklyn, NY 2.0 1.0 — $3,300 — 10d 1 0.50mi
317 80th St Unit 2F Brooklyn, NY 1.0 1.0 650 $2,300 $3.54 10d 1 0.55mi
557 79th St Unit 2 Brooklyn, NY 3.0 1.0 — $2,500 — 10d 1 0.56mi
527 80th St Unit 1 Brooklyn, NY 2.0 1.0 — $2,250 — 10d 1 0.59mi
8020 5th Ave Apt 2 Brooklyn, NY 3.0 1.0 1200 $3,200 $2.67 6d 1 0.61mi
558 80th St Brooklyn, NY 2.0 1.0 — $2,100 — 10d 1 0.64mi
517 82nd St Unit 6 Brooklyn, NY 1.0 1.0 — $1,850 — 10d 1 0.69mi
439 83rd St Unit 2 Brooklyn, NY 2.0 1.0 700 $2,800 $4.00 0d 1 0.69mi
556 81st St Unit 2 Brooklyn, NY 2.0 1.0 — $2,350 — 10d 1 0.69mi
614 80th St Unit 3R Brooklyn, NY 2.0 1.0 — $2,350 — 10d 1 0.70mi
614 80th St Unit 3 Brooklyn, NY 2.0 1.0 — $2,250 — 10d 1 0.70mi
372 83rd St Unit 2 Brooklyn, NY 2.0 1.0 — $4,100 — 6d 1 0.70mi
8225 5th Ave Brooklyn, NY 1.0 1.0 — $2,295 — 1d 1 0.73mi
7401 Shore Rd Unit 6F Brooklyn, NY 2.0 1.0 950 $4,000 $4.21 10d 1 0.75mi
248 56th St #2 Brooklyn, NY 3.0 2.5 2254 $5,000 $2.22 10d 1 0.76mi
248 56th St Brooklyn, NY 3.0 2.5 2254 $4,750 $2.11 9d 1 0.76mi
7201 10th Ave Unit 1 Brooklyn, NY 3.0 1.0 2050 $2,500 $1.22 10d 1 0.77mi
7201 10th Ave Unit 1 Brooklyn, NY 3.0 1.0 2050 $2,500 $1.22 1d 1 0.77mi
969 64th St Unit 2 Brooklyn, NY 1.0 1.0 — $2,300 — 10d 1 0.77mi
311 85th St Unit 3 Brooklyn, NY 2.0 1.0 — $2,100 — 10d 1 0.80mi
367 86th St Apt 1F Brooklyn, NY 1.0 1.0 800 $1,650 $2.06 10d 1 0.83mi
464 85th St Unit 1 Brooklyn, NY 3.0 1.0 — $2,600 — 10d 1 0.83mi
353 87th St Unit 1 Brooklyn, NY 1.0 1.0 1000 $2,000 $2.00 6d 1 0.89mi
8617 3rd Ave Unit 3 Brooklyn, NY 1.0 1.0 — $3,200 — 165d 1 0.90mi
8614 3rd Ave Unit 2 Brooklyn, NY 3.0 1.0 — $3,000 — 165d 1 0.90mi
8614 3rd Ave Unit 3 Brooklyn, NY 2.0 1.0 — $2,600 — 85d 1 0.90mi
8614 3rd Ave Unit 2 Brooklyn, NY 1.0 1.0 — $1,200 — 36d 1 0.90mi
8614 3rd Ave Unit 2 Brooklyn, NY 2.0 1.0 — $2,300 — 157d 1 0.90mi

Property features AI

Finance

Other
Six-unit multi-family buildingBuilding footprint approximately 1,375 sq ftTotal building area listed
Financial info
Financing options may include bank mortgage, cash, or exchange consideredUtility expense listed

Exterior

Parking
Street parking
Security
Resident superintendent
Utilities
Electric service with circuit breakersGas hot water and heatingSteam/radiator heat
Home design
Attached buildingResidential propertyFlat roof
Construction
Brick constructionStone and other foundation types
Exterior features
Back yardFully fenced yard

Interior

Kitchen
RefrigeratorStove
Bedrooms
Six 1-bedroom units (various floors)
Flooring
HardwoodLaminateTile
Bathrooms
Six full bathrooms (one per unit)
Heating & cooling
Gas hot waterGas heatingSteam/radiator heatCircuit breaker electrical
Interior features
RefrigeratorStoveHardwood floorsLaminate floorsTile floorsFull basement
Laundry & utility
No central AC units

Listing history 50 events

  1. 2026-11-08
    days on market $999,000 Active 226 DOM
  2. 2026-11-07
    days on market $999,000 Active 225 DOM
  3. 2026-11-06
    days on market $999,000 Active 224 DOM
  4. 2026-11-05
    days on market $999,000 Active 223 DOM
  5. 2026-11-04
    days on market $999,000 Active 222 DOM
  6. 2026-11-02
    days on market $999,000 Active 220 DOM
  7. 2026-11-01
    days on market $999,000 Active 219 DOM
  8. 2026-10-31
    days on market $999,000 Active 218 DOM
  9. 2026-10-30
    days on market $999,000 Active 217 DOM
  10. 2026-10-29
    days on market $999,000 Active 216 DOM
  11. 2026-10-28
    days on market $999,000 Active 215 DOM
  12. 2026-10-27
    days on market $999,000 Active 214 DOM
  13. 2026-10-26
    days on market $999,000 Active 213 DOM
  14. 2026-10-25
    days on market $999,000 Active 212 DOM
  15. 2026-10-24
    days on market $999,000 Active 211 DOM
  16. 2026-10-23
    days on market $999,000 Active 210 DOM
  17. 2026-10-22
    days on market $999,000 Active 209 DOM
  18. 2026-10-21
    days on market $999,000 Active 208 DOM
  19. 2026-10-20
    days on market $999,000 Active 207 DOM
  20. 2026-10-19
    days on market $999,000 Active 206 DOM
  21. 2026-10-18
    days on market $999,000 Active 205 DOM
  22. 2026-10-17
    days on market $999,000 Active 204 DOM
  23. 2026-10-16
    days on market $999,000 Active 203 DOM
  24. 2026-10-15
    days on market $999,000 Active 202 DOM
  25. 2026-10-13
    days on market $999,000 Active 200 DOM
  26. 2026-10-12
    days on market $999,000 Active 199 DOM
  27. 2026-10-11
    days on market $999,000 Active 198 DOM
  28. 2026-10-10
    days on market $999,000 Active 197 DOM
  29. 2026-10-09
    days on market $999,000 Active 196 DOM
  30. 2026-10-08
    days on market $999,000 Active 195 DOM
  31. 2026-10-08
    days on market $999,000 Active 194 DOM
  32. 2026-10-06
    days on market $999,000 Active 193 DOM
  33. 2026-10-04
    days on market $999,000 Active 191 DOM
  34. 2026-10-03
    days on market $999,000 Active 190 DOM
  35. 2026-10-02
    days on market $999,000 Active 189 DOM
  36. 2026-10-01
    days on market $999,000 Active 188 DOM
  37. 2026-09-30
    days on market $999,000 Active 187 DOM
  38. 2026-09-29
    days on market $999,000 Active 186 DOM
  39. 2026-09-28
    days on market $999,000 Active 185 DOM
  40. 2026-09-25
    days on market $999,000 Active 182 DOM
  41. 2026-09-22
    days on market $999,000 Active 179 DOM
  42. 2026-09-21
    days on market $999,000 Active 178 DOM
  43. 2026-09-20
    days on market $999,000 Active 177 DOM
  44. 2026-09-18
    days on market $999,000 Active 175 DOM
  45. 2026-09-17
    days on market $999,000 Active 174 DOM
  46. 2026-09-16
    pricedays on market $999,000 Active 173 DOM
  47. 2026-09-15
    days on market $1,049,000 Active 172 DOM
  48. 2026-09-14
    days on market $1,049,000 Active 171 DOM
  49. 2026-09-13
    days on market $1,049,000 Active 170 DOM
  50. 2026-09-12
    days on market $1,049,000 Active 169 DOM

ⓘ 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
$19,029 · $1,586/mo
Projected year-2 tax
$19,029 · $1,586/mo
Expected delta
$0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
  • 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
  • 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$174,480
− Mortgage interest
−$55,960
− Property taxes
−$19,029
− Insurance
−$4,995
− Repairs & maintenance
−$13,958
− Management
−$13,958
− Depreciation
−$29,062
Taxable income
$37,518
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$9,004
After-tax cash flow
$41,945/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 · 4 photos

Good 75/100 Cosmetic rehab Est. rehab $20,625–$61,875 screening

A well-maintained, fully occupied six-family building in Bay Ridge, NY, with good roof and exterior condition. Minor cosmetic updates can further enhance its resale and rental value.

Components & finishes AI

Roof flat membrane

Deferred maintenance Est. $50,000–$150,000 screening

  • Major Roof (roof) — The roof appears to be a flat membrane, which is typically more expensive to replace than other types of roofs.
  • Major Windows (windows) — The windows appear to be old and may need replacement.
  • Major Electrical (electrical) — The electrical panel may need to be updated or replaced.
  • Major Plumbing (plumbing) — The plumbing may need to be updated or replaced.
  • Major Exterior (exterior) — The exterior of the building appears to be in need of repair or replacement.

Value-add opportunities

  • Both Paint exterior — Enhances curb appeal and property value ↑
  • Both Upgrade HVAC units — Improves energy efficiency and comfort ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 67/100

Zoned Schools

Elementary Ps/is 30 Mary White Ovington F NY #1,349/2,108 Nat'l #17,190/41,679 Middle Mott Hall Bridges Academy High Fort Hamilton High School A+ NY #265/1,100 Nat'l #453/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 2,847,441 people
City population
7,731,280
Metro
New York-Newark-Jersey City, NY-NJ-PA
Population (ZIP)
90,652
Household income
$69,883
Rent vs Own
73.3% rent · 26.7% own
Severe rent burden
14% of renters

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 0.65)
Race & ethnicity
Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
Hispanic origin (detail)
Mexican 17% Puerto Rican 8% Dominican 5%
Languages at home
20% English-only · Spanish 35% Chinese 35% Arabic 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
—

Price history

-4.5% since first listed
2 events — show timeline
  • 2026-05-08 Price Changed $1,049,000 BNYMLS
  • 2026-03-27 Listed $1,099,000 BNYMLS

Property tax history

+5.1%/yr

Latest (2025): $19,029 · +2.3% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…