115 Victory Blvd · New York, NY 10301

$565,000

5 bd · 4.0 ba · 1,260 sqft · MultiFamily public records · 26 Days on market

Built 1915 2,450 sqft lot Est $499k · 13% over

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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 +21.0/30.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• 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

SUPER INVESTMENT, 5/5,CLOSE TO FERRY, . Level 1 & Basement: 2BDRM APT Level 2: 2BDRM APT + FINISHED ATTIC.

Key facts

• Finished attic
• Level 1 & basement
• Close to ferry

Tags

• CLOSE TO FERRY
• LEVEL 1 & BASEMENT
• FINISHED ATTIC

Property features AI

Finance

• Other: Annual tax listed (financial detail omitted per instructions)
• Financial info: Two units total; Unit 1 current rent: $1,100/month

Exterior

• Parking: On-street parking (no attached garage)
• Utilities: 220-volt electrical service
• Home design: 2-story building; Vinyl siding exterior; Condition listed as fair
• Construction: Vinyl siding construction; Year built: approximate
• Exterior features: On-street parking; Lot approximately 0.06 acres (approx. 25 x 98); Zoned R5

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Bathrooms: 2 full bathrooms; 2 three-quarter bathrooms (4 total bathrooms)
• Heating & cooling: Natural gas forced air heating
• Interior features: Finished basement; Two-unit multi-family building

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $732 ($9k/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 $551k (2.5% below list).
• Recommended offer: $551k (2.5% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 61 William A Morris (math 22% / reading 57%, grade F, #418 of 729 statewide, top 59%, 932 students, 84% 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 (+6.1%/yr); 265 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,508/mo this rent would consume 77% of the median local household income ($86k/yr) (locally 2008% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($557k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $230k; list at $565k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 54% 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 $550,800 (2.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $498,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
245 Westervelt Ave	0.34mi	5/2.0	1,314 (+4%)	3mo	$520,000	$396	66

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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-27,475
• Equity at exit: $84,243

10-year hold

• IRR: 8.3%
• Equity multiple: 1.71×
• Total profit: $112,398
• Equity at exit: $48,851

Cash invested: $158,200 (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 10301

• Rents YoY: 6.1%
• Active inventory: 265
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $5,508 medium
• Mortgage (P&I): −$2,963
• Tax from tax record: −$354 /mo · $4,252/yr
• Insurance: −$235
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,157
• Net cashflow: $732

Break-even live

Break-even rent $4,581

Max offer price $565,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,052	-5% $892	+0% $732	+5% $572	+10% $412
Rent	-10% $297	-5% $515	+0% $732	+5% $950	+10% $1,167
Rate	-1.0pp $1,017	-0.5pp $876	base $732	+0.5pp $586	+1.0pp $437

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,508
Total (2 units)			$5,508

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   pricedays on market $565,000 Active 26 DOM
2. 2026-06-18
   days on market $590,000 Active 23 DOM
3. 2026-06-17
   days on market $590,000 Active 22 DOM
4. 2026-06-16
   days on market $590,000 Active 21 DOM
5. 2026-06-15
   days on market $590,000 Active 20 DOM
6. 2026-06-13
   days on market $590,000 Active 18 DOM
7. 2026-06-10
   days on market $590,000 Active 14 DOM
8. 2026-06-08
   days on market $590,000 Active 13 DOM
9. 2026-06-08
   days on market $590,000 Active 12 DOM
10. 2026-06-04
    days on market $590,000 Active 9 DOM
11. 2026-06-03
    days on market $590,000 Active 8 DOM
12. 2026-06-02
    days on market $590,000 Active 7 DOM
13. 2026-06-01
    days on market $590,000 Active 6 DOM
14. 2026-05-31
    days on market $590,000 Active 5 DOM
15. 2026-05-26
    listed $590,000 Active
16. 2026-05-22
    historical
17. 2026-02-18
    price $590,000
18. 2026-02-17
    listed $590,000 Active
19. 2016-02-17
    historical
20. 2008-01-02
    soldstatus $230,000
21. 2004-07-13
    listed $349,900
22. 2002-07-16
    soldstatus $173,500
23. 2002-05-17
    soldstatus $173,310
24. 2001-11-28
    listed $189,900
25. 1996-01-16
    soldstatus $45,000

ⓘ 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: $4,252 · $354/mo
• Projected year-2 tax: $6,900 · $575/mo
• Expected delta: +$2,648/yr (+$221/mo · 62.3%)

ⓘ 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) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $66,096
• − Mortgage interest: −$31,649
• − Property taxes: −$4,252
• − Insurance: −$3,622
• − Repairs & maintenance: −$5,288
• − Management: −$5,288
• − Depreciation: −$16,436
• Taxable loss: −$439
• Est. tax savings @ 24.0%: +$105
• After-tax cash flow: $8,892/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

+1211.1% since first listed

11 events — show timeline

• 2026-05-26 Listed $590,000 SIBORMLS
• 2026-05-22 Listing Removed — SIBORMLS
• 2026-02-18 Price Changed $590,000 BNYMLS
• 2026-02-17 Listed $590,000 SIBORMLS
• 2016-02-17 Listing Removed — SIBORMLS
• 2008-01-02 Sold (Public Records) $230,000 Public Records
• 2004-07-13 Listed $349,900 SIBORMLS
• 2002-07-16 Sold (Public Records) $173,500 Public Records
• 2002-05-17 Sold (MLS) $173,310 SIBORMLS
• 2001-11-28 Listed $189,900 SIBORMLS
• 1996-01-16 Sold (Public Records) $45,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,252 · +2.6% YoY. Source: county tax records.