88 Taft Ave · New York, NY 10301

$869,000

8 bd · 4.0 ba · 1,748 sqft · MultiFamily public records · 384 Days on market

Built 1920 2,500 sqft lot Est $834k · at est.

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Why this score? — see what drove the C- 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 +19.1/30.0
• DSCR +6.0/10.0
• ARV discount +5.6/15.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 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 MLS

Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

Key facts

• Gas meters
• Three family home
• Large backyard

Tags

• THREE FAMILY HOME
• BOILER HEATING SYSTEM
• GAS METERS
• ELECTRIC METERS
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Private parking
• Utilities: Public sewer; Natural gas available
• Home design: Triplex; Frame construction
• Construction: Concrete perimeter foundation
• Exterior features: Balcony; Back yard; Vinyl fencing

Interior

• Bedrooms: Three 3-bedroom units
• Bathrooms: Four full bathrooms (total)
• Heating & cooling: Baseboard heating; Separate meters for cooling
• Interior features: Original details

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $869k.

Deal economics

• At list price, monthly cash flow is $923 ($11k/yr) — positive. Per door: $461/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $783k (9.9% below list).
• Recommended offer: $765k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 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 $7,832/mo this rent would consume 110% 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 $6k of loan paydown is wiped out by about $26k 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 384 days — a 12% lower offer ($765k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 20y 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 $675k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $764,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 384 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $833,796
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 Corson Ave	0.30mi	7/2.0 (-1)	1,584 (-9%)	5mo	$755,000	$477	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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-57,461
• Equity at exit: $129,571

10-year hold

• IRR: 6.5%
• Equity multiple: 1.55×
• Total profit: $133,238
• Equity at exit: $75,135

Cash invested: $243,320 (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: 18.5×

Monthly cashflow live

• Estimated rent: $7,832 medium
• Mortgage (P&I): −$4,557
• Tax from tax record: −$346 /mo · $4,147/yr
• Insurance: −$362
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,645
• Net cashflow: $923

Break-even live

Break-even rent $6,664

Max offer price $869,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$7,832
Total (2 units)			$7,832

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: $217,250
• Closing costs: $26,070
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $869,000 Active 384 DOM
2. 2026-06-17
   days on market $869,000 Active 383 DOM
3. 2026-06-15
   days on market $869,000 Active 381 DOM
4. 2026-06-13
   days on market $869,000 Active 379 DOM
5. 2026-06-10
   days on market $869,000 Active 375 DOM
6. 2026-06-08
   days on market $869,000 Active 374 DOM
7. 2026-06-03
   days on market $869,000 Active 369 DOM
8. 2026-06-01
   days on market $869,000 Active 367 DOM
9. 2026-05-31
   days on market $869,000 Active 366 DOM
10. 2026-05-17
    status Active
11. 2026-04-12
    status Active
12. 2026-04-12
    price $869,000
13. 2025-12-06
    status Active
14. 2025-12-06
    price $829,000
15. 2025-08-20
    price $729,000
16. 2025-07-01
    status Active
17. 2025-07-01
    historical
18. 2025-06-10
    price $789,000
19. 2025-06-06
    price $815,000
20. 2025-05-01
    price $839,000
21. 2025-02-28
    price $850,000
22. 2024-12-30
    price $889,000
23. 2024-12-30
    price $879,000
24. 2024-12-11
    listed $899,000 Active
25. 2024-09-01
    historical
26. 2023-11-20
    listed $875,000 Active
27. 2021-03-18
    soldstatus $675,000
28. 2021-02-10
    soldstatus $650,000 Closed 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

29. 2020-10-22
    status Pending 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

30. 2020-10-02
    historical 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

31. 2020-09-19
    status Active 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

32. 2020-02-13
    status Pending 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

33. 2020-01-15
    historical 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

34. 2019-11-23
    listed $650,000 Active 69-char remark

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

35. 2019-11-23
    historical

    Show marketing remark (69 chars)

    Fully Renovated Detached, Two Family with 9 Bedrooms and 6 Bathrooms.

36. 2019-09-23
    price $750,000
37. 2019-08-23
    listed $788,000 Active
38. 2016-02-17
    historical
39. 2014-11-29
    historical
40. 2014-11-29
    historical
41. 2014-04-30
    historical
42. 2013-08-08
    listed $275,000
43. 2009-06-17
    soldstatus $460,000
44. 2009-04-30
    soldstatus $180,000
45. 2008-12-05
    listed $188,900
46. 2008-01-07
    listed $399,000
47. 2007-05-10
    listed $489,000
48. 2006-12-19
    soldstatus $500,000
49. 2006-06-22
    listed $445,000
50. 2001-04-10
    soldstatus $182,000

ⓘ 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: $4,147 · $346/mo
• Projected year-2 tax: $9,416 · $785/mo
• Expected delta: +$5,270/yr (+$439/mo · 127.1%)

ⓘ 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 · 15 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: $93,984
• − Mortgage interest: −$48,678
• − Property taxes: −$4,147
• − Insurance: −$4,345
• − Repairs & maintenance: −$7,519
• − Management: −$7,519
• − Depreciation: −$25,280
• Taxable loss: −$3,503
• Est. tax savings @ 24.0%: +$841
• After-tax cash flow: $11,911/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

+1944.7% since first listed

42 events — show timeline

• 2026-05-17 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $869,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Price Changed $829,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-20 Price Changed $729,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Price Changed $789,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Price Changed $815,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Price Changed $839,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-28 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-30 Price Changed $889,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-30 Price Changed $879,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-11 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-01 Listing Removed — SIBORMLS
• 2023-11-20 Listed $875,000 SIBORMLS
• 2021-03-18 Sold (Public Records) $675,000 Public Records
• 2021-02-10 Sold (MLS) $650,000 SIBORMLS
• 2020-10-22 Pending — SIBORMLS
• 2020-10-02 Listing Removed — SIBORMLS
• 2020-09-19 Relisted — SIBORMLS
• 2020-02-13 Pending — SIBORMLS
• 2020-01-15 Listing Removed — SIBORMLS
• 2019-11-23 Listing Removed — SIBORMLS
• 2019-11-23 Listed $650,000 SIBORMLS
• 2019-09-23 Price Changed $750,000 SIBORMLS
• 2019-08-23 Listed $788,000 SIBORMLS
• 2016-02-17 Listing Removed — SIBORMLS
• 2014-11-29 Listing Removed — SIBORMLS
• 2014-11-29 Listing Removed — SIBORMLS
• 2014-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-08-08 Listed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2009-06-17 Sold (Public Records) $460,000 Public Records
• 2009-04-30 Sold (MLS) $180,000 SIBORMLS
• 2008-12-05 Listed $188,900 SIBORMLS
• 2008-01-07 Listed $399,000 SIBORMLS
• 2007-05-10 Listed $489,000 SIBORMLS
• 2006-12-19 Sold (Public Records) $500,000 Public Records
• 2006-06-22 Listed $445,000 SIBORMLS
• 2001-04-10 Sold (Public Records) $182,000 Public Records
• 1991-01-31 Sold (Public Records) $42,500 Public Records

Property tax history

+8.8%/yr

Latest (2025): $4,147 · +6.0% YoY. Source: county tax records.