1258 E 98th St · New York, NY 11236

$500,000

6 bd · 6.0 ba · 1,125 sqft · MultiFamily public records · 324 Days on market

Built 1960 2,300 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Canarsie - East 98th Street All-Brick Legal 2-Family Ranch BRP Exclusive! Investor or end-user alert! Rare find - All-brick legal 2-family ranch in the heart of Canarsie. Built in 1960, this spacious layout offers excellent upside and long-term value. Layout: Top Floor: 4.5 rooms - 2 bedrooms Walk-in Unit: 3.5 rooms - 1 bedroom Full finished accessory basement with interior entrance Property Features: Private driveway and built-in garage Private backyard plus front & rear patios Lot size: 20 ft x 115 ft Building size: 20 ft x 45 ft Estate Sale - Must Be Sold with Occupant In Place (Legal Holdover) Sold As-Is - Buyer must assume current occupant. Tremendous Upside! A sim

Key facts

• Legal 2-family ranch
• Front patio
• Private driveway

Tags

• ALL BRICK
• LEGAL 2-FAMILY RANCH
• PRIVATE DRIVEWAY
• PRIVATE BACKYARD
• FRONT PATIO
• REAR PATIO

Property features AI

Finance

• Other: Pets allowed in the building
• Financial info: Property contains 2 total units

Exterior

• Parking: Assigned parking; Detached or attached garage with 2 garage spaces
• Home design: Two-story building; Entry level is 1
• Construction: Green building
• Exterior features: Lot dimensions approximately 115 x 20 ft; Zoned R4

Interior

• Bedrooms: Total of 8 rooms across units (bedroom breakdown not specified)
• Bathrooms: Three full bathrooms
• Interior features: Smoke-free property; Basement (other type)
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $954/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $500k).
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: 228 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,544/mo this rent would consume 96% of the median local household income ($81k/yr) (locally 4225% 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 $3k of loan paydown is wiped out by about $15k 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 + 3.0% rent growth), your $140k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% 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 $440,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 324 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.31% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.29×
• Total profit: $40,539
• Equity at exit: $74,552

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $191,771
• Equity at exit: $43,231

Cash invested: $140,000 (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 11236

• Active inventory: 228
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $6,544 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$430 /mo · $5,165/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,374
• Net cashflow: $1,909

Break-even live

Break-even rent $4,128

Max offer price $500,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$6,544
Total (2 units)			$6,544

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $500,000 Active 324 DOM
2. 2026-06-17
   days on market $500,000 Active 323 DOM
3. 2026-06-15
   days on market $500,000 Active 321 DOM
4. 2026-06-13
   days on market $500,000 Active 319 DOM
5. 2026-06-10
   days on market $500,000 Active 315 DOM
6. 2026-06-08
   pricedays on market $500,000 Active 314 DOM
7. 2026-06-03
   days on market $600,000 Active 309 DOM
8. 2026-06-01
   days on market $600,000 Active 307 DOM
9. 2026-05-31
   days on market $600,000 Active 306 DOM
10. 2025-07-29
    listed $600,000 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: $5,165 · $430/mo
• Projected year-2 tax: $6,808 · $567/mo
• Expected delta: +$1,642/yr (+$137/mo · 31.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $78,528
• − Mortgage interest: −$28,008
• − Property taxes: −$5,165
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,282
• − Management: −$6,282
• − Depreciation: −$14,545
• Taxable income: $15,745
• Est. tax owed @ 24.0%: −$3,779
• After-tax cash flow: $19,128/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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 event — show timeline

• 2025-07-29 Listed $600,000 RLS at REBNY

Property tax history

+4.8%/yr

Latest (2025): $5,165 · -2.4% YoY. Source: county tax records.