40 Creston Pl · New York, NY 10304

$818,000

6 bd · 6.0 ba · 1,400 sqft · MultiFamily public records · 78 Days on market

Built 1989 3,061 sqft lot Est $643k · 27% over

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Why this score? — see what drove the F 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 +10.3/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to this beautiful and versatile two-family dwelling located at 40 Creston Place (aka 55 Cebra Ave), street to street property, offering the perfect blend of privacy, convenience, and modern updates. Nestled on a quiet dead-end street with dedicated parking, and additional garage access from 55 Cebra Ave, this property provides exceptional accessibility to transportation while maintaining a peaceful residential setting. The main home features 2 bedrooms and 3 bathrooms, along with a private den and additional living room, complemented by a garage, private driveway, additional off-street parking, and ample storage. The multi-level apartment includes a separate private entrance, offering excellent flexibility for extended family living or potential rental income. The property has been extensively updated, including connection to city sewer, updated HVAC systems (with a ductless system installed for the apartment), new water tanks, and gutter guards. Exterior enhancements include a beautifully renovated patio with Cambridge pavers, stone veneer siding, and professionally landscaped grounds featuring a rose garden and mature privacy plantings. Interior improvements in the main home include a fully updated kitchen with granite countertops, floor-to-ceiling cabinetry, and newer appliances, along with renovated bathrooms, refinished hardwood floors, and updated windows and doors throughout. The apartment has also been updated with a renovated kitchen, newer appliances, and an upgraded bathroom. This well-maintained and thoughtfully updated property offers both comfort and opportunity in a prime location with great accessibility to Manhattan. Minutes to the SI Ferry, and Restaurants.

Key facts

• New water tanks
• Private den
• Updated hvac systems

Tags

• DEDICATED PARKING
• GARAGE ACCESS
• PRIVATE DEN
• SEPARATE PRIVATE ENTRANCE
• UPDATED HVAC SYSTEMS
• NEW WATER TANKS

Property features AI

Exterior

• Parking: Two parking spaces; One-car garage; Off-street parking
• Utilities: Public sewer; Cable available; Electricity available
• Home design: Duplex; Building area approximately 1680 total; Actual property condition
• Construction: Brick and vinyl siding exterior
• Exterior features: No waterfront

Interior

• Kitchen: Eat-in kitchen; Pantry
• Bedrooms: One 2-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: First-floor full bath; Eat-in kitchen; Pantry; Primary bathroom
• Laundry & utility: Unfinished basement (utility space)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $818k.

Deal economics

• At list price, monthly cash flow is $-452 ($-5k/yr) — negative. Per door: $-226/mo.
• To cash-flow at today's rent, offer at most $738k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $589k (28.0% below list).
• Recommended offer: $589k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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 (+2.0%/yr); 203 active listings in the ZIP; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,889/mo this rent would consume 99% of the median local household income ($72k/yr) (locally 2401% 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 $6k of loan paydown is wiped out by about $25k 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 78 days — a 6% lower offer ($769k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $301k; list at $818k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% 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 $588,900 (28.0% 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 78 days. Have you received any prior offers? Is the seller open to a 28% 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. 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. 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: 0.72% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $642,600
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
251 Castleton Ave	0.37mi	5/3.0 (-1)	1,470 (+5%)	5mo	$675,000	$459	53
245 Westervelt Ave	0.57mi	5/2.0 (-1)	1,314 (-6%)	3mo	$520,000	$396	40
80 Corson Ave	0.31mi	7/2.0 (+1)	1,584 (+13%)	5mo	$755,000	$477	40
435 Castleton Ave	0.65mi	6/2.0	1,600 (+14%)	4mo	$711,000	$444	26
92 Canal St	0.65mi	6/3.0	1,250 (-11%)	20mo	$815,000	$652	23

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 · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.27×
• Total profit: $-167,503
• Equity at exit: $121,966

10-year hold

• IRR: -17.2%
• Equity multiple: 0.09×
• Total profit: $-207,749
• Equity at exit: $70,726

Cash invested: $229,040 (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 10304

• Rents YoY: 2.0%
• Active inventory: 203
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $5,889 medium
• Mortgage (P&I): −$4,290
• Tax from tax record: −$474 /mo · $5,684/yr
• Insurance: −$341
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,237
• Net cashflow: $-452

Break-even live

Break-even rent $6,461

Max offer price $738,180

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$5,890
Total (2 units)			$5,889

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: $204,500
• Closing costs: $24,540
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $818,000 Active 78 DOM
2. 2026-06-17
   days on market $818,000 Active 77 DOM
3. 2026-06-15
   days on market $818,000 Active 75 DOM
4. 2026-06-13
   days on market $818,000 Active 73 DOM
5. 2026-06-10
   days on market $818,000 Active 69 DOM
6. 2026-06-08
   days on market $818,000 Active 68 DOM
7. 2026-06-08
   days on market $818,000 Active 67 DOM
8. 2026-06-04
   days on market $818,000 Active 64 DOM
9. 2026-06-03
   days on market $818,000 Active 63 DOM
10. 2026-06-01
    days on market $818,000 Active 61 DOM
11. 2026-05-31
    days on market $818,000 Active 60 DOM
12. 2026-05-07
    status Pending 1715-char remark

    Show marketing remark (1715 chars)

    Welcome to this beautiful and versatile two-family dwelling located at 40 Creston Place (aka 55 Cebra Ave), street to street property, offering the perfect blend of privacy, convenience, and modern updates. Nestled on a quiet dead-end street with dedicated parking, and additional garage access from 55 Cebra Ave, this property provides exceptional accessibility to transportation while maintaining a peaceful residential setting. The main home features 2 bedrooms and 3 bathrooms, along with a private den and additional living room, complemented by a garage, private driveway, additional off-street parking, and ample storage. The multi-level apartment includes a separate private entrance, offering excellent flexibility for extended family living or potential rental income. The property has been extensively updated, including connection to city sewer, updated HVAC systems (with a ductless system installed for the apartment), new water tanks, and gutter guards. Exterior enhancements include a beautifully renovated patio with Cambridge pavers, stone veneer siding, and professionally landscaped grounds featuring a rose garden and mature privacy plantings. Interior improvements in the main home include a fully updated kitchen with granite countertops, floor-to-ceiling cabinetry, and newer appliances, along with renovated bathrooms, refinished hardwood floors, and updated windows and doors throughout. The apartment has also been updated with a renovated kitchen, newer appliances, and an upgraded bathroom. This well-maintained and thoughtfully updated property offers both comfort and opportunity in a prime location with great accessibility to Manhattan. Minutes to the SI Ferry, and Restaurants.

13. 2026-03-31
    listed $818,000 Active 1715-char remark

    Show marketing remark (1715 chars)

    Welcome to this beautiful and versatile two-family dwelling located at 40 Creston Place (aka 55 Cebra Ave), street to street property, offering the perfect blend of privacy, convenience, and modern updates. Nestled on a quiet dead-end street with dedicated parking, and additional garage access from 55 Cebra Ave, this property provides exceptional accessibility to transportation while maintaining a peaceful residential setting. The main home features 2 bedrooms and 3 bathrooms, along with a private den and additional living room, complemented by a garage, private driveway, additional off-street parking, and ample storage. The multi-level apartment includes a separate private entrance, offering excellent flexibility for extended family living or potential rental income. The property has been extensively updated, including connection to city sewer, updated HVAC systems (with a ductless system installed for the apartment), new water tanks, and gutter guards. Exterior enhancements include a beautifully renovated patio with Cambridge pavers, stone veneer siding, and professionally landscaped grounds featuring a rose garden and mature privacy plantings. Interior improvements in the main home include a fully updated kitchen with granite countertops, floor-to-ceiling cabinetry, and newer appliances, along with renovated bathrooms, refinished hardwood floors, and updated windows and doors throughout. The apartment has also been updated with a renovated kitchen, newer appliances, and an upgraded bathroom. This well-maintained and thoughtfully updated property offers both comfort and opportunity in a prime location with great accessibility to Manhattan. Minutes to the SI Ferry, and Restaurants.

14. 2026-03-31
    listed $818,000 Active

    Show marketing remark (1715 chars)

    Welcome to this beautiful and versatile two-family dwelling located at 40 Creston Place (aka 55 Cebra Ave), street to street property, offering the perfect blend of privacy, convenience, and modern updates. Nestled on a quiet dead-end street with dedicated parking, and additional garage access from 55 Cebra Ave, this property provides exceptional accessibility to transportation while maintaining a peaceful residential setting. The main home features 2 bedrooms and 3 bathrooms, along with a private den and additional living room, complemented by a garage, private driveway, additional off-street parking, and ample storage. The multi-level apartment includes a separate private entrance, offering excellent flexibility for extended family living or potential rental income. The property has been extensively updated, including connection to city sewer, updated HVAC systems (with a ductless system installed for the apartment), new water tanks, and gutter guards. Exterior enhancements include a beautifully renovated patio with Cambridge pavers, stone veneer siding, and professionally landscaped grounds featuring a rose garden and mature privacy plantings. Interior improvements in the main home include a fully updated kitchen with granite countertops, floor-to-ceiling cabinetry, and newer appliances, along with renovated bathrooms, refinished hardwood floors, and updated windows and doors throughout. The apartment has also been updated with a renovated kitchen, newer appliances, and an upgraded bathroom. This well-maintained and thoughtfully updated property offers both comfort and opportunity in a prime location with great accessibility to Manhattan. Minutes to the SI Ferry, and Restaurants.

15. 2025-10-27
    historical
16. 2025-09-11
    listed $895,000 Active
17. 2019-09-16
    historical
18. 2019-05-28
    listed $720,000 Active
19. 2016-02-25
    historical
20. 2015-08-31
    listed $525,000 Active
21. 2013-07-01
    soldstatus $301,000
22. 2013-06-18
    soldstatus $301,000
23. 2012-05-22
    listed $319,000
24. 1994-12-01
    soldstatus $110,000
25. 1992-06-10
    soldstatus $195,500
26. 1992-05-15
    soldstatus $199,000
27. 1985-12-11
    soldstatus $35,000

ⓘ 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: $5,684 · $474/mo
• Projected year-2 tax: $9,754 · $813/mo
• Expected delta: +$4,070/yr (+$339/mo · 71.6%)

ⓘ 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 ≥98°F today · 16 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: $70,668
• − Mortgage interest: −$45,821
• − Property taxes: −$5,684
• − Insurance: −$4,090
• − Repairs & maintenance: −$5,653
• − Management: −$5,653
• − Depreciation: −$23,796
• Taxable loss: −$20,030
• Est. tax savings @ 24.0%: +$4,807
• After-tax cash flow: $-615/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): 45,658
• Household income: $71,561
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2401.0

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 0.73)
• Race & ethnicity: White 36% Black 25% Hispanic / Latino 24% Asian 13% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Scotch-Irish 3% Romanian 2% Swiss 2%
• Foreign-born: 32% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 16% Chinese 8% Other Indo-European 5%

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: ▼ -254.93%
• Current HPI: 346.7976
• Rent YoY: ▲ 1.99%
• 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

+2237.1% since first listed

16 events — show timeline

• 2026-05-07 Pending — SIBORMLS
• 2026-03-31 Listed $818,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $818,000 SIBORMLS
• 2025-10-27 Listing Removed — SIBORMLS
• 2025-09-11 Listed $895,000 SIBORMLS
• 2019-09-16 Listing Removed — SIBORMLS
• 2019-05-28 Listed $720,000 SIBORMLS
• 2016-02-25 Listing Removed — SIBORMLS
• 2015-08-31 Listed $525,000 SIBORMLS
• 2013-07-01 Sold (Public Records) $301,000 Public Records
• 2013-06-18 Sold (MLS) $301,000 SIBORMLS
• 2012-05-22 Listed $319,000 SIBORMLS
• 1994-12-01 Sold (Public Records) $110,000 Public Records
• 1992-06-10 Sold (Public Records) $195,500 Public Records
• 1992-05-15 Sold (Public Records) $199,000 Public Records
• 1985-12-11 Sold (Public Records) $35,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $5,684 · +6.0% YoY. Source: county tax records.