1253 Blake Ave · New York, NY 11208

$1,199,000

6 bd · 3.0 ba · 2,450 sqft · MultiFamily public records · 13 Days on market

Built 1920 2,240 sqft lot Est $1000k · 20% 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 +12.9/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• 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: 3 units. confirmed

Listing remarks

Legal Three-Family Income Property in Cypress Hills, Brooklyn Opportunity awaits at this legal three-family brick property in the Cypress Hills section of Brooklyn. Featuring approximately 2,450 square feet of living space, this income-producing building includes a spacious three-bedroom unit with an office on the first floor, plus two additional apartments on the second level. The property also features a full finished basement with access to the rear yard, providing additional usable space and flexibility. With two vacant units, this property offers an excellent opportunity for investors or owner-occupants seeking rental income. Conveniently located near transportation, shopping, and eve

Key facts

• Rear yard access
• Multi unit property
• 2,240 sq ft lot

Tags

• THREE FAMILY INCOME PROPERTY
• FULL FINISHED BASEMENT
• REAR YARD ACCESS
• MULTI UNIT PROPERTY
• WELL CONNECTED LOCATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Con-Edison electric; Public sewer; Cable available; Electricity connected; Natural gas connected; Phone available; Sewer connected; Public trash collection; Water connected
• Home design: Duplex; Described as fixer condition
• Construction: Brick exterior; Brick/mortar foundation
• Exterior features: Brick construction; No waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Combination flooring; Hardwood; Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-83 ($-990/yr) — negative. Per door: $-28/mo.
• To cash-flow at today's rent, offer at most $1.18M (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $889k (25.8% below list).
• Recommended offer: $889k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $8,892/mo this rent would consume 172% of the median local household income ($62k/yr) (locally 7574% 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 $8k of loan paydown is wiped out by about $36k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $410k; list at $1.20M implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 65% 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 $889,200 (25.8% 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 1920 — 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: 0.74% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $999,600
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
661 Euclid Ave	0.05mi	6/2.0	2,180 (-11%)	2mo	$890,000	$408	74
852 Glenmore Ave	0.51mi	6/3.0	2,484 (+1%)	1mo	$995,000	$401	73
654 Autumn Ave	0.17mi	5/4.0 (-1)	2,340 (-4%)	10mo	$900,000	$385	67
400 Crescent St	0.51mi	6/3.0	2,346 (-4%)	6mo	$1,175,000	$501	64
982 Dumont Ave	0.66mi	6/3.0	2,452 (+0%)	9mo	$847,390	$346	62
962 Hemlock St	0.50mi	6/3.0	2,537 (+4%)	11mo	$900,500	$355	61
762 Belmont Ave	0.58mi	7/3.0 (+1)	2,520 (+3%)	7mo	$1,140,000	$452	57
307 Berriman St	0.43mi	6/4.0	2,112 (-14%)	1mo	$880,000	$417	52
759 Drew St	0.50mi	6/4.0	2,132 (-13%)	2mo	$940,000	$441	50
304 Sheridan Ave	0.31mi	7/5.0 (+1)	2,340 (-4%)	19mo	$1,100,000	$470	49
471 Shepherd Ave	0.52mi	5/3.5 (-1)	2,800 (+14%)	20mo	$989,000	$353	28

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-171,160
• Equity at exit: $178,775

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-31,377
• Equity at exit: $103,668

Cash invested: $335,720 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 33.7×

Monthly cashflow live

• Estimated rent: $8,892 high
• Mortgage (P&I): −$6,288
• Tax from tax record: −$320 /mo · $3,839/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,867
• Net cashflow: $-83

Break-even live

Break-even rent $8,996

Max offer price $1,184,424

Occupancy floor 96%

Sensitivity live

Price	-10% $596	-5% $257	+0% $-83	+5% $-422	+10% $-761
Rent	-10% $-785	-5% $-434	+0% $-83	+5% $269	+10% $620
Rate	-1.0pp $521	-0.5pp $222	base $-83	+0.5pp $-393	+1.0pp $-709

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,892
Total (3 units)			$8,892

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $1,199,000 Active 13 DOM
2. 2026-06-18
   days on market $1,199,000 Active 10 DOM
3. 2026-06-17
   days on market $1,199,000 Active 9 DOM
4. 2026-06-16
   days on market $1,199,000 Active 8 DOM
5. 2026-06-15
   days on market $1,199,000 Active 7 DOM
6. 2026-06-13
   days on market $1,199,000 Active 5 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $1,199,000 Active 1 DOM

ⓘ 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: $3,839 · $320/mo
• Projected year-2 tax: $12,051 · $1,004/mo
• Expected delta: +$8,212/yr (+$684/mo · 213.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $106,704
• − Mortgage interest: −$67,163
• − Property taxes: −$3,839
• − Insurance: −$5,995
• − Repairs & maintenance: −$8,536
• − Management: −$8,536
• − Depreciation: −$34,880
• Taxable loss: −$22,245
• Est. tax savings @ 24.0%: +$5,339
• After-tax cash flow: $4,349/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 1%

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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+699.3% since first listed

17 events — show timeline

• 2026-06-08 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-20 Price Changed $1,099,000 BNYMLS
• 2025-04-19 Price Changed $1,099,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-17 Listed $1,149,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-31 Price Changed $1,149,000 BNYMLS
• 2025-01-31 Price Changed $1,149,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-29 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-10-24 Price Changed $1,000,075 OneKey® MLS as Distributed by MLS Grid
• 2023-08-07 Price Changed $1,000,050 OneKey® MLS as Distributed by MLS Grid
• 2023-06-29 Price Changed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2023-06-15 Price Changed $1,099,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-13 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2004-10-18 Sold (Public Records) $410,000 Public Records
• 1995-10-30 Sold (Public Records) $150,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,839 · -1.6% YoY. Source: county tax records.