33 Avenue U · New York, NY 11223

$1,599,000

8 bd · 4.4 ba · 2,600 sqft · MultiFamily · 10 Days on market

Built 1931 2,200 sqft lot Est $1672k · 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 +20.5/30.0
• ARV discount +9.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Great investment opportunity! Mixed-use building 1 retail store and 4 families in Gravesend. Building size: 20x65, Lot size: 22x100. Tax: $10,006. Zoning R5B. Gross annual income $97,200. Total annual expenses: $10,780. Net income: $76,414. Cap Rate: 5%. Near N train Ave U and D train 25th Ave. Also close to 86th St and Ave U business district. Convenient to all shopping, restaurants, supermarket.

Key facts

• Strong cash flow
• Annual rental income
• Excellent visibility

Tags

• WELL-MAINTAINED PROPERTY
• SPACIOUS APARTMENTS
• COMMERCIAL SPACE
• ANNUAL RENTAL INCOME
• STRONG CASH FLOW
• EXCELLENT VISIBILITY

Property features AI

Finance

• Other: Zoning: R5B
• Financial info: Financing options include bank mortgage, cash, and exchange considered; Utility expense listed (annual): $2,800; Property configured as a 5-unit income building with month-to-month leases for listed units and current rents around $1,800–$1,850 for residential units; one unit shows projected rent of $1,850

Exterior

• Parking: No designated parking
• Utilities: Electric: 110V and 220V; Hot water: Gas; Heating fuel: Gas
• Home design: Semi-detached building; Mixed-use property
• Construction: Brick and block construction with stucco exterior; Pitched roof; Block foundation; Building footprint about 1,300 sq ft; building dimensions approximately 65 x 20
• Exterior features: Back yard; Mixed-use property

Interior

• Bedrooms: Five units total: two 3-bedroom units, two 2-bedroom units, and one medical/commercial unit
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: Four residential units each with one full bathroom; Medical/commercial unit with one half bath
• Heating & cooling: Gas hot water; Steam/radiator heat
• Interior features: Finished basement; Hardwood, laminate and tile floors; No central air conditioning units listed

What this means for you Summary

Snapshot

• This is a 2×3bd/1.1ba + 2×2bd/1.1ba units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $525/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.60M).
• Cap rate 7.9% 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 (+13.1%/yr); 216 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $16,645/mo this rent would consume 315% of the median local household income ($63k/yr) (locally 6011% 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 $11k of loan paydown is wiped out by about $48k 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 + 8.0% rent growth), your $448k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,599,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $1,671,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1880 W 6th St	0.45mi	7/4.0 (-1)	2,700 (+4%)	2mo	$1,459,000	$540	65
1864 W 6th St	0.47mi	7/3.0 (-1)	2,560 (-2%)	2mo	$1,052,000	$411	63
2365 82nd St	0.46mi	8/4.0	2,800 (+8%)	7mo	$1,800,000	$643	58
70 Bay 34th St	0.51mi	8/4.0	2,490 (-4%)	11mo	$1,570,000	$631	58
1945 W 6th St	0.40mi	7/6.0 (-1)	2,706 (+4%)	6mo	$1,910,000	$706	58
1962 W 10th St	0.22mi	7/4.0 (-1)	2,340 (-10%)	11mo	$1,638,000	$700	57
156 28th Ave	0.64mi	8/3.0	2,595 (-0%)	14mo	$988,000	$381	52
1718 W 11th St	0.61mi	9/3.0 (+1)	2,652 (+2%)	8mo	$1,450,000	$547	51
8666 24th Ave	0.42mi	8/3.0	2,268 (-13%)	10mo	$1,880,000	$829	45
2260 80th St	0.63mi	7/5.5 (-1)	2,784 (+7%)	17mo	$1,880,000	$675	35
163 Bay 38th St	0.41mi	7/4.5 (-1)	2,256 (-13%)	23mo	$1,500,000	$665	34

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-37,190
• Equity at exit: $238,416

10-year hold

• IRR: 12.4%
• Equity multiple: 2.21×
• Total profit: $541,161
• Equity at exit: $138,252

Cash invested: $447,720 (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 11223

• Rents YoY: 13.1%
• Active inventory: 216
• Price-to-rent: 29.7×

Monthly cashflow live

• Estimated rent: $16,645 medium
• Mortgage (P&I): −$8,385
• Tax est. 1.5%: −$1,999 /mo · $23,985/yr
• Insurance: −$666
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,495
• Net cashflow: $2,099

Break-even live

Break-even rent $13,988

Max offer price $1,599,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.1	$8,986
▸ 2× units	2	1.1	$7,658
Total (4 units)			$16,645

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: $399,750
• Closing costs: $47,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $1,599,000 Active 10 DOM
2. 2026-06-17
   days on market $1,599,000 Active 9 DOM
3. 2026-06-16
   days on market $1,599,000 Active 8 DOM
4. 2026-06-15
   days on market $1,599,000 Active 7 DOM
5. 2026-06-13
   days on market $1,599,000 Active 5 DOM
6. 2026-06-08
   remarks 699-char remark
7. 2026-06-08
   listed $1,599,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $199,740
• − Mortgage interest: −$89,569
• − Property taxes: −$23,985
• − Insurance: −$7,995
• − Repairs & maintenance: −$15,979
• − Management: −$15,979
• − Depreciation: −$46,516
• Taxable loss: −$284
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $25,259/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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 0.65)
• Race & ethnicity: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+23.1% since first listed

11 events — show timeline

• 2026-06-08 Listed $1,599,000 BNYMLS
• 2024-05-22 Price Changed $1,599,000 BNYMLS
• 2022-03-31 Sold (MLS) $1,400,000 BNYMLS
• 2022-02-24 Pending — BNYMLS
• 2021-11-01 Price Changed $1,550,000 BNYMLS
• 2021-10-27 Price Changed $1,580,000 BNYMLS
• 2021-09-02 Listed $1,590,000 BNYMLS
• 2021-08-04 Price Changed $1,690,000 BNYMLS
• 2021-07-26 Price Changed $1,590,000 BNYMLS
• 2016-09-09 Delisted — BNYMLS
• 2015-07-10 Listed $1,299,000 BNYMLS