180 Fillmore St · New York, NY 10301

$1,275,000

8 bd · 4.0 ba · 2,160 sqft · MultiFamily public records · 340 Days on market

Built 1931 4,468 sqft lot Est $881k · 45% 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 +12.5/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Renovated 4 family home with two-bedroom apartments granite countertops in kitchens, laundry in basement. Rents currently under market. GREAT INVESTMENT OPPORTUNITY!

Key facts

• 4,468 sq ft lot
• Built 1931
• Listed 340 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.27M.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative. Per door: $-46/mo.
• To cash-flow at today's rent, offer at most $1.25M (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.09M (14.4% below list).
• Recommended offer: $1.09M (14.4% 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 (+6.1%/yr); 263 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $10,919/mo this rent would consume 153% 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 $9k of loan paydown is wiped out by about $38k 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 340 days — a 12% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $80k; list at $1.27M implies a 1494% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $1,091,900 (14.4% 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 340 days. Have you received any prior offers? Is the seller open to a 14% 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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.86% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $881,280
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Crescent Ave	0.58mi	8/2.0	2,205 (+2%)	10mo	$560,000	$254	53
18 Ely St	0.54mi	7/2.0 (-1)	2,200 (+2%)	8mo	$755,000	$343	52
226 Benziger Ave	0.51mi	9/4.0 (+1)	2,258 (+4%)	16mo	$925,000	$410	50
65 York Ave	0.35mi	9/3.0 (+1)	2,450 (+13%)	9mo	$999,888	$408	45

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: -13.9%
• Equity multiple: 0.49×
• Total profit: $-183,474
• Equity at exit: $190,107

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-22,344
• Equity at exit: $110,239

Cash invested: $357,000 (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 10301

• Rents YoY: 6.1%
• Active inventory: 263
• Price-to-rent: 38.9×

Monthly cashflow live

• Estimated rent: $10,919 medium
• Mortgage (P&I): −$6,686
• Tax est. 1.5%: −$1,594 /mo · $19,125/yr
• Insurance: −$531
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,293
• Net cashflow: $-185

Break-even live

Break-even rent $11,153

Max offer price $1,248,197

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,920
Total (4 units)			$10,919

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: $318,750
• Closing costs: $38,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2024-08-27
   status Pending
2. 2023-05-09
   status Pending
3. 2023-04-26
   historical Contingent
4. 2023-01-03
   status Active
5. 2023-01-01
   historical
6. 2022-11-04
   price $1,275,000
7. 2022-06-01
   listed $1,300,000 Active
8. 2004-09-07
   soldstatus $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $131,028
• − Mortgage interest: −$71,420
• − Property taxes: −$19,125
• − Insurance: −$6,375
• − Repairs & maintenance: −$10,482
• − Management: −$10,482
• − Depreciation: −$37,091
• Taxable loss: −$23,947
• Est. tax savings @ 24.0%: +$5,747
• After-tax cash flow: $3,525/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

+1493.8% since first listed

8 events — show timeline

• 2024-08-27 Pending — SIBORMLS
• 2023-05-09 Pending — SIBORMLS
• 2023-04-26 Contingent — SIBORMLS
• 2023-01-03 Relisted — SIBORMLS
• 2023-01-01 Listing Removed — SIBORMLS
• 2022-11-04 Price Changed $1,275,000 SIBORMLS
• 2022-06-01 Listed $1,300,000 SIBORMLS
• 2004-09-07 Sold (Public Records) $80,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,229 · -0.0% YoY. Source: county tax records.