73 Gary Pl · New York, NY 10314

$849,900

4 bd · 2.4 ba · 1,882 sqft · MultiFamily public records · 17 Days on market

Built 1965 3,933 sqft lot Est $956k · 11% 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).

• ARV discount +12.5/15.0
• Cash flow +12.3/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• 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

Welcome to 73 Gary Place! This large 2-family, semi-attached, High-Ranch home is situated on an oversized 3,993 sqft property. The main house features 3-bedrooms, 2.5-bathrooms, a great-open layout with large windows and high ceilings, as well as access to a spacious deck and an oversized backyard. The 2nd unit offers a big 2-bedroom apartment with a full bath, ideal for additional income or extended family. Situated on a beautiful, tree-lined street, and conveniently located close to parks, schools, shopping, restaurants and public transportation, this home is a fantastic opportunity in a prime location!

Key facts

• Close to parks
• Close to schools
• Spacious deck

Tags

• SPACIOUS DECK
• OVERSIZED BACKYARD
• TREE-LINED STREET
• CLOSE TO PARKS
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Total building area listed as 2,088 (unit not shown)
• Financial info: Two-unit property; Unit 1 current rent listed at $3,600/month

Exterior

• Parking: Carport (no attached garage)
• Utilities: 220V electrical service
• Home design: Two-story multifamily property; Approximately built (year not specified)
• Construction: Brick and vinyl siding construction; Excellent condition
• Exterior features: Brick and vinyl siding exterior; Lot about 0.09 acres with dimensions ~79.21 x 93; Zoned R3X

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: Two full bathrooms and one half bathroom (total 3)
• Interior features: Central cooling (individual units); Natural gas heating with forced air

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative. Per door: $-77/mo.
• To cash-flow at today's rent, offer at most $823k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $623k (26.7% below list).
• Recommended offer: $623k (26.7% 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 (+3.9%/yr); 487 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $6,231/mo this rent would consume 71% of the median local household income ($105k/yr) (locally 2168% 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 17 days — a 2% lower offer ($837k) 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 51% 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 $623,100 (26.7% 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. 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 1965 — 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: 0.73% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $956,056
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Gadsen Pl	0.53mi	4/3.5	2,078 (+10%)	4mo	$950,000	$457	50
11 Firth Rd	0.73mi	3/4.5 (-1)	1,960 (+4%)	2mo	$995,000	$508	44
165 Sommer Ave	0.64mi	3/5.5 (-1)	1,600 (-15%)	1mo	$928,000	$580	27

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 · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.40×
• Total profit: $-142,083
• Equity at exit: $126,723

10-year hold

• IRR: -7.3%
• Equity multiple: 0.52×
• Total profit: $-113,407
• Equity at exit: $73,484

Cash invested: $237,972 (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 10314

• Rents YoY: 3.9%
• Active inventory: 487
• Price-to-rent: 22.7×

Monthly cashflow live

• Estimated rent: $6,231 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$266 /mo · $3,193/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,309
• Net cashflow: $-155

Break-even live

Break-even rent $6,427

Max offer price $822,575

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$6,232
Total (2 units)			$6,231

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: $212,475
• Closing costs: $25,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Brunswick St Unit 2 Staten Island, NY	3.0	2.0	1600	$3,300	$2.06	24d	1	1.14mi
581 W Caswell Ave Unit 2 Staten Island, NY	3.0	2.0	2292	$3,200	$1.40	15d	1	1.23mi

Listing history 6 events

1. 2026-05-21
   status Pending
2. 2026-05-04
   listed $849,900 Active
3. 2022-08-01
   historical
4. 2022-07-18
   price $798,000
5. 2022-07-14
   price $808,000
6. 2022-06-28
   listed $838,000 Active

ⓘ 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: $3,193 · $266/mo
• Projected year-2 tax: $8,778 · $732/mo
• Expected delta: +$5,585/yr (+$465/mo · 174.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $74,772
• − Mortgage interest: −$47,608
• − Property taxes: −$3,193
• − Insurance: −$4,250
• − Repairs & maintenance: −$5,982
• − Management: −$5,982
• − Depreciation: −$24,724
• Taxable loss: −$16,966
• Est. tax savings @ 24.0%: +$4,072
• After-tax cash flow: $2,216/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): 93,915
• Household income: $104,613
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 2168.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Asian 19% Hispanic / Latino 15% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 9% Chinese 7% Other Indo-European 7%

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: ▼ -553.73%
• Current HPI: 378.3872
• Rent YoY: ▲ 3.93%
• 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

+1.4% since first listed

6 events — show timeline

• 2026-05-21 Pending — SIBORMLS
• 2026-05-04 Listed $849,900 SIBORMLS
• 2022-08-01 Listing Removed — SIBORMLS
• 2022-07-18 Price Changed $798,000 SIBORMLS
• 2022-07-14 Price Changed $808,000 SIBORMLS
• 2022-06-28 Listed $838,000 SIBORMLS

Property tax history

+6.6%/yr

Latest (2025): $3,193 · +7.3% YoY. Source: county tax records.