60 6th Ave · New York, NY 11217

$2,700,000

64 bd · 68.0 ba · 5,640 sqft · MultiFamily public records · 153 Days on market

Built 1931 5,640 sqft lot

---

Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Prime Prospect Heights Investment Opportunity –8-Family on 6th Avenue Outstanding opportunity to own a 8-family building in a prime Prospect Heights location, directly on 6th Avenue, just minutes from Barclays Center. The property was renovated approximately five years ago and is fully leased, offering immediate income with strong upside potential. Each unit is a sun-drenched one-bedroom, with several configured as junior two-bedrooms, featuring high ceilings, hardwood floors, generous living rooms, king-size bedrooms, excellent closet space, and full bathrooms. Apartments include separate eat-in kitchens with full-size appliances. Heat and hot/cold water are included for all tenan

Key facts

• Renovated
• Mixed-use zoning
• 5,640 sq ft lot

Tags

• RENOVATED
• STRONG RENTAL DEMAND LOCATION
• MIXED-USE ZONING
• PREMIER TRANSIT ACCESS
• PROXIMITY TO PROSPECT PARK
• PROXIMITY TO FORT GREENE PARK

Property features AI

Finance

• Other: Property type: Residential; Building footprint approximately 1,408 (dimensions 64.00 x 22.00); Zoning: R7A, R6B
• Financial info: Eight-unit multifamily property (unit count: 8); Some units are leased; rents vary by unit (current rents provided for individual units); Financing options considered: exchange, bank mortgage, or cash; Utility expense listed (monthly): $720

Exterior

• Parking: Street parking available
• Security: No building amenities listed
• Utilities: Electric with circuit breakers; Hot water: Gas; Heat delivery: Steam/Radiator
• Home design: Attached residential building; Flat/rubber roof; Brick exterior
• Construction: Brick construction; Poured concrete foundation
• Exterior features: Front and back yard; Fully fenced yard

Interior

• Kitchen: Oven/Range; Refrigerator; Appliances included in units
• Bedrooms: Eight 1-bedroom units (one bedroom per unit; units located on floors 1–8)
• Flooring: Hardwood floors; Carpeting; Linoleum floors
• Bathrooms: Eight full bathrooms (each unit has at least one full bath); one unit includes an additional half bath
• Heating & cooling: Steam/radiator heat; Heating fuel: Gas; No central AC units listed
• Interior features: Porch; Finished full basement with additional space; Refrigerator; Stove; Other interior amenities
• Laundry & utility: Utilities included in some units (water and heat noted); Hot water provided by gas

What this means for you Summary

Snapshot

• This is a 8 × 8-bed/8.5-bath units multifamily listed at $2.70M.

Deal economics

• At list price, monthly cash flow is $17k ($205k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($43k rent vs $2.70M).
• Recommended offer: $2.38M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+6.7%/yr); 127 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $42,750/mo this rent would consume 315% of the median local household income ($163k/yr) (locally 2688% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $289k of equity ($19k loan paydown + $270k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 6.7% rent growth), your $756k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$464k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($2.38M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $950k; list at $2.70M implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $2,376,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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. 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: 1.58% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.13%
• DSCR: 2.21
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 4.60×
• Total profit: $2,723,417
• Equity at exit: $2,432,374

10-year hold

• IRR: 42.2%
• Equity multiple: 10.99×
• Total profit: $7,551,582
• Equity at exit: $5,245,506

Cash invested: $756,000 (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 11217

• Home prices YoY: 2.5%
• Rents YoY: 6.7%
• Active inventory: 127
• Price-to-rent: 42.1×

Monthly cashflow live

• Estimated rent: $42,750 medium
• Mortgage (P&I): −$14,159
• Tax from tax record: −$1,399 /mo · $16,787/yr
• Insurance: −$1,125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,978
• Net cashflow: $17,089

Break-even live

Break-even rent $21,118

Max offer price $2,700,000

Occupancy floor 55%

Sensitivity live

Price	-10% $18,618	-5% $17,854	+0% $17,089	+5% $16,325	+10% $15,561
Rent	-10% $13,712	-5% $15,401	+0% $17,089	+5% $18,778	+10% $20,467
Rate	-1.0pp $18,449	-0.5pp $17,776	base $17,089	+0.5pp $16,390	+1.0pp $15,678

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

Units	Beds	Baths	Est. rent
▸ 8× units	8	8.5	$42,752
Total (8 units)			$42,750

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: $675,000
• Closing costs: $81,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $2,700,000 Active 153 DOM
2. 2026-06-18
   days on market $2,700,000 Active 150 DOM
3. 2026-06-17
   days on market $2,700,000 Active 149 DOM
4. 2026-06-15
   days on market $2,700,000 Active 147 DOM
5. 2026-06-13
   days on market $2,700,000 Active 145 DOM
6. 2026-06-10
   days on market $2,700,000 Active 141 DOM
7. 2026-06-08
   days on market $2,700,000 Active 140 DOM
8. 2026-06-04
   days on market $2,700,000 Active 136 DOM
9. 2026-06-03
   days on market $2,700,000 Active 135 DOM
10. 2026-06-01
    days on market $2,700,000 Active 133 DOM
11. 2026-05-31
    days on market $2,700,000 Active 132 DOM
12. 2026-01-20
    listed $2,700,000 Active
13. 2022-03-22
    listed $2,700,000
14. 2021-10-04
    listed $2,700,000 Active
15. 2009-05-18
    soldstatus $950,000
16. 2003-02-18
    soldstatus $625,000
17. 1982-11-01
    soldstatus $90,000

ⓘ 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: $16,787 · $1,399/mo
• Projected year-2 tax: $31,209 · $2,601/mo
• Expected delta: +$14,421/yr (+$1,202/mo · 85.9%)

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

Taxation est. · year 1

• Rental income: $513,000
• − Mortgage interest: −$151,242
• − Property taxes: −$16,787
• − Insurance: −$13,500
• − Repairs & maintenance: −$41,040
• − Management: −$41,040
• − Depreciation: −$78,545
• Taxable income: $170,845
• Est. tax owed @ 24.0%: −$41,003
• After-tax cash flow: $164,071/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): 43,490
• Household income: $162,863
• Rent vs Own: 72.2% rent · 27.8% own
• Severe rent burden: 2688.0

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 0.69)
• Race & ethnicity: White 50% Black 16% Hispanic / Latino 16% Two or more races 15% Asian 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 11% French/Haitian/Cajun 4% Other Indo-European 3%

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: ▲ 11.76%
• Current HPI: 491.2658
• Rent YoY: ▲ 6.70%
• 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

+2900.0% since first listed

6 events — show timeline

• 2026-01-20 Listed $2,700,000 BNYMLS
• 2022-03-22 Listed $2,700,000 RLS at REBNY
• 2021-10-04 Listed $2,700,000 RLS at REBNY
• 2009-05-18 Sold (Public Records) $950,000 Public Records
• 2003-02-18 Sold (Public Records) $625,000 Public Records
• 1982-11-01 Sold (Public Records) $90,000 Public Records

Property tax history

+5.4%/yr

Latest (2024): $16,787 · +10.0% YoY. Source: county tax records.