320 Avenue P · New York, NY 11204

$1,400,000

None bd · None ba · 2,340 sqft · MultiFamily public records · 93 Days on market

Built 1925 3,000 sqft lot Est $1411k · at est.

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Why this score? — see what drove the D+ 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 +14.3/30.0
• ARV discount +7.9/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Land Parcel in Desirable Brooklyn Location, Zoned For Multi Family

Key facts

• 3,000 sq ft lot
• Listed 92 days

Tags

• ZONED FOR MULTI FAMILY

Property features AI

Exterior

• Utilities: Public sewer
• Exterior features: Zoned R4A

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.14M (18.4% below list).
• Recommended offer: $1.14M (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (+12.9%/yr); 167 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,427/mo this rent would consume 197% of the median local household income ($69k/yr) (locally 4963% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 40% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $1,142,700 (18.4% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $1,411,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1641 W 6th St	0.18mi	4/2.5	2,240 (-4%)	5mo	$1,350,000	$603	80
1664 E 4th St	0.32mi	5/3.5	2,520 (+8%)	1mo	$1,980,000	$786	71
83 Van Sicklen St	0.42mi	5/2.0	2,242 (-4%)	3mo	$1,220,000	$544	71
1636 Dahill Rd	0.11mi	4/2.0	2,048 (-12%)	4mo	$999,000	$488	71
172 Highlawn Ave	0.39mi	3/2.0	2,560 (+9%)	1mo	$1,200,000	$469	65
231 Van Sicklen St	0.67mi	5/3.0	2,400 (+3%)	2mo	$1,900,000	$792	63
1864 W 6th St	0.46mi	7/3.0	2,560 (+9%)	2mo	$1,052,000	$411	62
2103 66th St	0.60mi	4/2.5	2,433 (+4%)	5mo	$1,390,000	$571	61
6221 23rd Ave	0.38mi	5/5.0	2,016 (-14%)	1mo	$1,650,000	$818	58
2265 78th St	0.62mi	5/6.0	2,538 (+8%)	2mo	$1,530,000	$603	55
1933 W 12th St	0.71mi	6/2.0	2,200 (-6%)	4mo	$1,600,000	$727	54
2018 W 6th St	0.70mi	7/3.0	2,200 (-6%)	5mo	$1,109,999	$505	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.62×
• Total profit: $-150,392
• Equity at exit: $208,745

10-year hold

• IRR: 4.7%
• Equity multiple: 1.42×
• Total profit: $163,534
• Equity at exit: $121,046

Cash invested: $392,000 (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 11204

• Home prices YoY: -32.9%
• Rents YoY: 12.9%
• Active inventory: 167
• Price-to-rent: 40.8×

Monthly cashflow live

• Estimated rent: $11,427 medium
• Mortgage (P&I): −$7,342
• Tax from tax record: −$844 /mo · $10,125/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,400
• Net cashflow: $258

Break-even live

Break-even rent $11,100

Max offer price $1,400,000

Occupancy floor 93%

Sensitivity live

Price	-10% $1,051	-5% $655	+0% $258	+5% $-138	+10% $-534
Rent	-10% $-644	-5% $-193	+0% $258	+5% $710	+10% $1,161
Rate	-1.0pp $964	-0.5pp $615	base $258	+0.5pp $-104	+1.0pp $-473

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$11,428
Total (4 units)			$11,427

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	19d	1	1.31mi

Listing history 17 events

1. 2026-06-21
   days on market $1,400,000 Active 93 DOM
2. 2026-06-18
   days on market $1,400,000 Active 90 DOM
3. 2026-06-17
   days on market $1,400,000 Active 89 DOM
4. 2026-06-15
   days on market $1,400,000 Active 87 DOM
5. 2026-06-13
   days on market $1,400,000 Active 85 DOM
6. 2026-06-10
   days on market $1,400,000 Active 81 DOM
7. 2026-06-08
   days on market $1,400,000 Active 80 DOM
8. 2026-06-08
   days on market $1,400,000 Active 79 DOM
9. 2026-06-04
   days on market $1,400,000 Active 76 DOM
10. 2026-06-03
    days on market $1,400,000 Active 75 DOM
11. 2026-06-01
    days on market $1,400,000 Active 73 DOM
12. 2026-05-31
    days on market $1,400,000 Active 72 DOM
13. 2026-04-24
    price $1,400,000
14. 2026-04-24
    historical
15. 2026-03-23
    price $950,000
16. 2026-03-20
    listed $999,999 Active
17. 2026-03-19
    listed $999,999 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: $10,125 · $844/mo
• Projected year-2 tax: $16,893 · $1,408/mo
• Expected delta: +$6,767/yr (+$564/mo · 66.8%)

ⓘ 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 ≥97°F today · 16 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: $137,124
• − Mortgage interest: −$78,422
• − Property taxes: −$10,125
• − Insurance: −$7,000
• − Repairs & maintenance: −$10,970
• − Management: −$10,970
• − Depreciation: −$40,727
• Taxable loss: −$21,090
• Est. tax savings @ 24.0%: +$5,062
• After-tax cash flow: $8,163/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): 79,800
• Household income: $69,479
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 4963.0

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 0.62)
• Race & ethnicity: White 53% Asian 29% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Subsaharan African 3% Scotch-Irish 3% Romanian 2%
• Foreign-born: 44% · China, Canada, Vietnam
• Languages at home: 23% English-only · Chinese 23% German/W. Germanic 19% Spanish 10%

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: ▼ -217.07%
• Current HPI: 443.1608
• Rent YoY: ▲ 12.87%
• 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

+40.0% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $1,400,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-20 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Listed $999,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $10,125 · +129.9% YoY. Source: county tax records.