217 Brighton 1st Ln · New York, NY 11235

$1,050,000

6 bd · 3.0 ba · 2,249 sqft · MultiFamily public records · 197 Days on market

Built 1931 1,013 sqft lot Est $1057k · 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.8/15.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• 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: 3 units. confirmed

Listing remarks MLS

BRIGHTON, NEAR OCEAN BEACH, SHOPPING & ALL TRANSPT, SEMI DET BRICK, 3 FAM HOUSE, 2 BDM OVER 2 BDM OVER 1 BDM, EXCELLENT CONDITION, TAKE ADVANTAGE OF THIS 3 FAM HOUSE, MOVE IN YOURSELF AND MAKE MONEY BY RENTING OUT

Key facts

• Properly maintained
• 3 family brick home
• Low property taxes

Tags

• 3 FAMILY BRICK HOME
• 3 LEGAL APARTMENTS
• LOW PROPERTY TAXES
• PROPERLY MAINTAINED
• CONVENIENTLY LOCATED
• NEAR B AND Q SUBWAY LINE

Property features AI

Finance

• Other: Lot number 78
• Financial info: Property configured as a 3-unit building; Unit 1 (level 1): 2-bedroom unit with 1 full bath, month-to-month status, projected rent $2,000; Unit 2 (level 2): 2-bedroom unit with 1 full bath, projected rent $2,500; Unit 3 (level 3): 3-bedroom unit with 1 full bath, month-to-month status, projected rent $2,700; Gross rent income noted (period 12): 7200; Financing options considered: exchange, bank mortgage, or cash

Exterior

• Parking: Street parking
• Utilities: Electric: circuit breakers; Hot water: gas; Heating fuel: gas
• Home design: Semi-detached building; Residential property
• Construction: Brick construction; Flat roof; Poured concrete foundation; Building footprint approximately 840 (dimensions 42.00 x 20.00)
• Exterior features: Partially fenced yard; Storage rooms in building

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: One bedroom on level 1; Two bedrooms on level 2; Three bedrooms on level 3
• Flooring: Ceramic floors; Hardwood floors
• Bathrooms: Three full bathrooms (one on each level)
• Heating & cooling: Gas hot water; Gas heating with steam/radiator delivery; Circuit breaker electric service
• Interior features: Refrigerator; Stove; Finished full basement; One air conditioning unit
• Laundry & utility: Utility expense listed (monthly)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $686/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1.05M).
• Recommended offer: $924k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Zoned schools: Ps 225 Eileen E Zaglin (The) (math 57% / reading 52%, grade C, #908 of 2,108 statewide, top 46%, 963 students, 84% FRL); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 524 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,468/mo this rent would consume 231% of the median local household income ($60k/yr) (locally 7823% 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 $7k of loan paydown is wiped out by about $32k 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $294k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($924k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $525k; list at $1.05M implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% 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 $924,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.09% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.14%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $1,057,030
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2939 Brighton 3rd St	0.19mi	7/3.0 (+1)	1,914 (-15%)	6mo	$900,000	$470	56

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 · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-15,103
• Equity at exit: $156,558

10-year hold

• IRR: 10.4%
• Equity multiple: 1.88×
• Total profit: $258,366
• Equity at exit: $90,785

Cash invested: $294,000 (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 11235

• Rents YoY: 5.0%
• Active inventory: 524
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $11,468 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$632 /mo · $7,589/yr
• Insurance: −$438
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,408
• Net cashflow: $2,057

Break-even live

Break-even rent $8,864

Max offer price $1,050,000

Occupancy floor 77%

Sensitivity live

Price	-10% $2,651	-5% $2,354	+0% $2,057	+5% $1,760	+10% $1,463
Rent	-10% $1,151	-5% $1,604	+0% $2,057	+5% $2,510	+10% $2,963
Rate	-1.0pp $2,586	-0.5pp $2,324	base $2,057	+0.5pp $1,785	+1.0pp $1,508

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$11,469
Total (3 units)			$11,468

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,050,000 Active 197 DOM
2. 2026-06-18
   days on market $1,050,000 Active 194 DOM
3. 2026-06-17
   days on market $1,050,000 Active 193 DOM
4. 2026-06-15
   days on market $1,050,000 Active 191 DOM
5. 2026-06-13
   days on market $1,050,000 Active 189 DOM
6. 2026-06-10
   days on market $1,050,000 Active 185 DOM
7. 2026-06-08
   days on market $1,050,000 Active 184 DOM
8. 2026-06-04
   days on market $1,050,000 Active 180 DOM
9. 2026-06-03
   days on market $1,050,000 Active 179 DOM
10. 2026-06-01
    days on market $1,050,000 Active 177 DOM
11. 2026-05-31
    days on market $1,050,000 Active 176 DOM
12. 2026-05-05
    price $1,050,000
13. 2026-01-08
    price $1,030,000
14. 2025-12-06
    listed $1,050,000 Active
15. 2009-01-07
    soldstatus $525,000
16. 2008-06-20
    listed $555,000 217-char remark

    Show marketing remark (217 chars)

    BRIGHTON, NEAR OCEAN BEACH, SHOPPING & ALL TRANSPT, SEMI DET BRICK, 3 FAM HOUSE, 2 BDM OVER 2 BDM OVER 1 BDM, EXCELLENT CONDITION, TAKE ADVANTAGE OF THIS 3 FAM HOUSE, MOVE IN YOURSELF AND MAKE MONEY BY RENTING OUT

ⓘ 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: $7,589 · $632/mo
• Projected year-2 tax: $12,667 · $1,056/mo
• Expected delta: +$5,078/yr (+$423/mo · 66.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $137,616
• − Mortgage interest: −$58,816
• − Property taxes: −$7,589
• − Insurance: −$10,368
• − Repairs & maintenance: −$11,009
• − Management: −$11,009
• − Depreciation: −$30,545
• Taxable income: $8,278
• Est. tax owed @ 24.0%: −$1,987
• After-tax cash flow: $22,697/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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

+89.2% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $1,050,000 BNYMLS
• 2026-01-08 Price Changed $1,030,000 BNYMLS
• 2025-12-06 Listed $1,050,000 BNYMLS
• 2009-01-07 Sold (Public Records) $525,000 Public Records
• 2008-06-20 Listed $555,000 BNYMLS

Property tax history

+3.5%/yr

Latest (2025): $7,589 · -2.5% YoY. Source: county tax records.