1403 Shore Pkwy · New York, NY 11214

$1,195,000

6 bd · 4.0 ba · 1,993 sqft · MultiFamily public records · 43 Days on market

Built 1945 2,280 sqft lot Est $1295k · 8% under

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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 +12.2/30.0
• ARV discount +11.0/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +2.7/10.0
• 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: 2 units. confirmed

Listing remarks

Located in the desirable waterfront neighborhood of Bath Beach, this attached two-family home offers a great opportunity for both end users and investors. The first floor features a comfortable one-bedroom apartment, while the second floor offers a spacious two-bedroom apartment, providing flexible living arrangements or strong rental income potential. Situated just moments from the Shore Parkway waterfront and promenade, residents can enjoy beautiful waterfront views, fresh ocean breezes, and nearby parks perfect for outdoor recreation. The property is also conveniently located near public transportation, including the New York City Subway BMT West End Line stations at 20th Avenue and Bay

Key facts

• Waterfront views
• Two-family home
• 2,280 sq ft lot

Tags

• WATERFRONT NEIGHBORHOOD
• TWO-FAMILY HOME
• ONE-BEDROOM APARTMENT
• TWO-BEDROOM APARTMENT
• WATERFRONT VIEWS
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Other: Two-unit building (multifamily) with Unit 1 having 3 total rooms and Unit 2 having 5 total rooms; Zoning: R5
• Financial info: Financing considered: exchange, bank mortgage, or cash

Exterior

• Parking: Private drive; Built-in garage with 2 spaces
• Utilities: Electric: 110V and 220V; Hot water: Gas; Heating fuel: Gas (steam/radiator delivery)
• Home design: Attached building; Residential property
• Construction: Brick construction; Flat roof; Poured concrete foundation; Building footprint approximately 1,034 (dimensions 47.00 x 22.00)
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Unit 1: 1 bedroom on the 1st floor; Unit 2: 2 bedrooms on the 2nd floor
• Flooring: Carpeting; Concrete floors; Hardwood floors
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Steam/radiator heating; No central AC units listed
• Interior features: Refrigerator; Stove; Walk-in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative. Per door: $-121/mo.
• To cash-flow at today's rent, offer at most $1.15M (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $924k (22.7% below list).
• Recommended offer: $924k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+5.9%/yr); 330 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,236/mo this rent would consume 168% of the median local household income ($66k/yr) (locally 6028% 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 $8k of loan paydown is wiped out by about $36k 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 43 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $107k; list at $1.20M implies a 1014% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $923,600 (22.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 0.77% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $1,295,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1383 Shore Pkwy	0.03mi	5/4.0 (-1)	2,000 (+0%)	3mo	$1,300,000	$650	90
8844 18th Ave	0.24mi	6/3.0	1,980 (-1%)	9mo	$1,250,000	$631	76
105 Bay 17th St	0.43mi	6/2.0	1,938 (-3%)	15mo	$1	—	55
315 Bay 10th St	0.59mi	6/3.0	1,860 (-7%)	9mo	$1,220,000	$656	50
198 Bay 11th St	0.61mi	6/2.5	2,237 (+12%)	5mo	$1,800,000	$805	42
8742 16th Ave	0.61mi	5/3.0 (-1)	2,160 (+8%)	14mo	$1,310,000	$606	36
1671 86th St	0.69mi	5/2.0 (-1)	2,090 (+5%)	13mo	$1,300,000	$622	36
8715 15th Ave	0.73mi	6/3.5	2,160 (+8%)	19mo	$1,400,000	$648	34
110 Bay 10th St	0.72mi	5/3.0 (-1)	1,736 (-13%)	3mo	$1,650,000	$950	34
2121 84th St	0.73mi	6/3.5	2,268 (+14%)	10mo	$1,699,000	$749	33
8628 16th Ave	0.73mi	7/5.0 (+1)	2,180 (+9%)	13mo	$1,810,000	$830	30
118 Bay 14th St	0.54mi	5/3.0 (-1)	2,288 (+15%)	23mo	$1,310,000	$573	22

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 · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.46×
• Total profit: $-181,894
• Equity at exit: $178,178

10-year hold

• IRR: -2.4%
• Equity multiple: 0.82×
• Total profit: $-60,017
• Equity at exit: $103,322

Cash invested: $334,600 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $9,236 high
• Mortgage (P&I): −$6,267
• Tax from tax record: −$773 /mo · $9,281/yr
• Insurance: −$498
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,940
• Net cashflow: $-242

Break-even live

Break-even rent $9,542

Max offer price $1,152,327

Occupancy floor 98%

Sensitivity live

Price	-10% $435	-5% $97	+0% $-242	+5% $-580	+10% $-918
Rent	-10% $-971	-5% $-606	+0% $-242	+5% $123	+10% $488
Rate	-1.0pp $360	-0.5pp $62	base $-242	+0.5pp $-551	+1.0pp $-866

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$9,236
Total (2 units)			$9,236

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: $298,750
• Closing costs: $35,850
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-21
   status Pending
2. 2026-03-09
   listed $1,195,000 Active
3. 1982-10-01
   soldstatus $107,272

ⓘ 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: $9,281 · $773/mo
• Projected year-2 tax: $14,738 · $1,228/mo
• Expected delta: +$5,457/yr (+$455/mo · 58.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 72% 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: $110,832
• − Mortgage interest: −$66,939
• − Property taxes: −$9,281
• − Insurance: −$5,975
• − Repairs & maintenance: −$8,867
• − Management: −$8,867
• − Depreciation: −$34,764
• Taxable loss: −$23,859
• Est. tax savings @ 24.0%: +$5,726
• After-tax cash flow: $2,827/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

+1014.0% since first listed

3 events — show timeline

• 2026-04-21 Pending — BNYMLS
• 2026-03-09 Listed $1,195,000 BNYMLS
• 1982-10-01 Sold (Public Records) $107,272 Public Records

Property tax history

+6.0%/yr

Latest (2025): $9,281 · -1.8% YoY. Source: county tax records.