6633 Avenue M · New York, NY 11234

$1,399,000

9 bd · 6.6 ba · 3,291 sqft · MultiFamily public records · 19 Days on market

Built 1970 3,944 sqft lot Est $1369k · at est.

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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 +11.4/30.0
• ARV discount +6.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• 1% rule +2.5/10.0
• 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: 3 units. confirmed

Listing remarks MLS

This Exceptional three-family property boasting a HUGE prime corner lot location at 39.67x102. This brick residence unveils a rare opportunity on the market for the first time in 50 years with (2) 3 bed 1.5 bath apartments and a (1) 1 bed apartment it's spacious interior is complemented by two driveways, a one-car attached garage and two inviting balconies along with a oversized yard, unfinished basement and an extra room that has an OSE. Immerse yourself in the potential of this gem, awaiting its next owner to seize the possibilities and restore its beauty! Won't last!!! Will be delivered VACANT!

Key facts

• Rear yard
• Large basement
• Separate driveways

Tags

• MULTI FAMILY CORNER PROPERTY
• SEPARATE DRIVEWAYS
• SIDE YARD
• REAR YARD
• LARGE BASEMENT
• HIGH CEILINGS

Property features AI

Exterior

• Parking: One-car garage; No carport
• Utilities: Public sewer; Electricity connected
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: One 3-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; Basement (see remarks)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $-484 ($-6k/yr) — negative. Per door: $-161/mo.
• To cash-flow at today's rent, offer at most $1.31M (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.05M (25.2% below list).
• Recommended offer: $1.05M (25.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+16.2%/yr); 459 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,460/mo this rent would consume 129% of the median local household income ($97k/yr) (locally 2384% 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 $10k of loan paydown is wiped out by about $42k 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 19 days — a 2% lower offer ($1.38M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $650k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.01M; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $1,046,000 (25.2% 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. 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.75% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $1,369,056
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1229 E 66th St	0.07mi	8/4.5 (-1)	3,248 (-1%)	2mo	$1,350,000	$416	80

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.48×
• Total profit: $-202,682
• Equity at exit: $208,595

10-year hold

• IRR: 1.0%
• Equity multiple: 1.09×
• Total profit: $33,717
• Equity at exit: $120,960

Cash invested: $391,720 (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 11234

• Rents YoY: 16.2%
• Active inventory: 459
• Price-to-rent: 33.4×

Monthly cashflow live

• Estimated rent: $10,460 medium
• Mortgage (P&I): −$7,337
• Tax from tax record: −$828 /mo · $9,941/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,197
• Net cashflow: $-484

Break-even live

Break-even rent $11,073

Max offer price $1,313,420

Occupancy floor 100%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$10,461
Total (3 units)			$10,460

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: $349,750
• Closing costs: $41,970
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   status $1,399,000 Pending 19 DOM
2. 2026-06-18
   days on market $1,399,000 Active 19 DOM
3. 2026-06-17
   days on market $1,399,000 Active 18 DOM
4. 2026-06-16
   days on market $1,399,000 Active 17 DOM
5. 2026-06-15
   days on market $1,399,000 Active 16 DOM
6. 2026-06-13
   days on market $1,399,000 Active 14 DOM
7. 2026-06-09
   days on market $1,399,000 Active 10 DOM
8. 2026-06-08
   days on market $1,399,000 Active 9 DOM
9. 2026-06-08
   days on market $1,399,000 Active 8 DOM
10. 2026-06-04
    days on market $1,399,000 Active 5 DOM
11. 2026-06-03
    days on market $1,399,000 Active 4 DOM
12. 2026-06-02
    days on market $1,399,000 Active 3 DOM
13. 2026-06-01
    days on market $1,399,000 Active 2 DOM
14. 2026-05-31
    remarks 545-char remark
15. 2026-05-31
    pricedays on marketlisting id $1,399,000 Active 1 DOM
16. 2026-05-23
    status Active
17. 2026-05-23
    historical
18. 2026-03-23
    price $1,499,000
19. 2025-09-22
    price $1,550,000
20. 2025-08-28
    price $1,699,000
21. 2025-07-21
    price $1,999,000
22. 2025-07-02
    listed $2,049,000 Active
23. 2024-06-04
    soldstatus $1,015,000
24. 2024-05-24
    soldstatus $1,015,000 Closed 604-char remark

    Show marketing remark (604 chars)

    This Exceptional three-family property boasting a HUGE prime corner lot location at 39.67x102. This brick residence unveils a rare opportunity on the market for the first time in 50 years with (2) 3 bed 1.5 bath apartments and a (1) 1 bed apartment it's spacious interior is complemented by two driveways, a one-car attached garage and two inviting balconies along with a oversized yard, unfinished basement and an extra room that has an OSE. Immerse yourself in the potential of this gem, awaiting its next owner to seize the possibilities and restore its beauty! Won't last!!! Will be delivered VACANT!

25. 2024-03-15
    status Pending 604-char remark

    Show marketing remark (604 chars)

    This Exceptional three-family property boasting a HUGE prime corner lot location at 39.67x102. This brick residence unveils a rare opportunity on the market for the first time in 50 years with (2) 3 bed 1.5 bath apartments and a (1) 1 bed apartment it's spacious interior is complemented by two driveways, a one-car attached garage and two inviting balconies along with a oversized yard, unfinished basement and an extra room that has an OSE. Immerse yourself in the potential of this gem, awaiting its next owner to seize the possibilities and restore its beauty! Won't last!!! Will be delivered VACANT!

26. 2024-03-08
    listed $1,050,000 Active 604-char remark

    Show marketing remark (604 chars)

    This Exceptional three-family property boasting a HUGE prime corner lot location at 39.67x102. This brick residence unveils a rare opportunity on the market for the first time in 50 years with (2) 3 bed 1.5 bath apartments and a (1) 1 bed apartment it's spacious interior is complemented by two driveways, a one-car attached garage and two inviting balconies along with a oversized yard, unfinished basement and an extra room that has an OSE. Immerse yourself in the potential of this gem, awaiting its next owner to seize the possibilities and restore its beauty! Won't last!!! Will be delivered VACANT!

27. 2024-03-04
    historical $1,050,000 604-char remark

    Show marketing remark (604 chars)

    This Exceptional three-family property boasting a HUGE prime corner lot location at 39.67x102. This brick residence unveils a rare opportunity on the market for the first time in 50 years with (2) 3 bed 1.5 bath apartments and a (1) 1 bed apartment it's spacious interior is complemented by two driveways, a one-car attached garage and two inviting balconies along with a oversized yard, unfinished basement and an extra room that has an OSE. Immerse yourself in the potential of this gem, awaiting its next owner to seize the possibilities and restore its beauty! Won't last!!! Will be delivered VACANT!

ⓘ 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: $9,941 · $828/mo
• Projected year-2 tax: $16,792 · $1,399/mo
• Expected delta: +$6,851/yr (+$571/mo · 68.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $125,520
• − Mortgage interest: −$78,366
• − Property taxes: −$9,941
• − Insurance: −$6,995
• − Repairs & maintenance: −$10,042
• − Management: −$10,042
• − Depreciation: −$40,698
• Taxable loss: −$30,563
• Est. tax savings @ 24.0%: +$7,335
• After-tax cash flow: $1,522/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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 6%

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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

+42.8% since first listed

12 events — show timeline

• 2026-05-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $1,499,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $1,550,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-28 Price Changed $1,699,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $1,999,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-02 Listed $2,049,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-04 Sold (Public Records) $1,015,000 Public Records
• 2024-05-24 Sold (MLS) $1,015,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-03-08 Listed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-04 Coming Soon $1,050,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $9,941 · +4.3% YoY. Source: county tax records.