2135 E 13th St · New York, NY 11229

$2,300,000

18 bd · 6.0 ba · 6,000 sqft · MultiFamily public records · 66 Days on market

Built 1926 4,000 sqft lot

---

Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Great Location near to U-Avenue and East 13th Street, fully detached 6-family, sited on 40x100 lot and measures 25x80. its thoughtfully laid out over three floors with two apartments per level: Spacious 3-bedroom units in the front and comfortable 2-bedroom units in the rear. All six units are currently tenant-occupied and producing income, making this a seamless condition to your investment. A private driveway and rear garage that fits up to 5 cars, an in-demand feature that brings in additional rental revenue. Situated just moments from all essentials-shops, restaurants, banks, and multiple transit options including the Q train, B#, B68

Key facts

• Three floors
• Private driveway
• Rear garage

Tags

• FULLY DETACHED 6-FAMILY
• 40X100 LOT
• THREE FLOORS
• PRIVATE DRIVEWAY
• REAR GARAGE
• ADDITIONAL RENTAL REVENUE

Property features AI

Finance

• Other: Six-unit multifamily property (6 units total) — all units currently leased
• Financial info: Financing options may include bank mortgage, cash, or exchange considered

Exterior

• Parking: Private drive with 3 parking spaces
• Utilities: 110V electric; Hot water coil in boiler for hot water
• Home design: Detached residential building
• Construction: Block and brick construction; Flat roof; Block foundation; Building footprint approximately 2,000 (dimensions 80.00 x 25.00)
• Exterior features: Front yard; Back yard

Interior

• Bedrooms: Six 3-bedroom units (some on 1st, 2nd and 3rd floors) — all units are 3-bedroom; Each unit has 5 total rooms
• Flooring: Stone floors
• Bathrooms: Six full bathrooms (one full bath per unit)
• Heating & cooling: Hot water heat delivery; No central AC units reported
• Interior features: Stone floors; Full basement

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.0-bath units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $-533 ($-6k/yr) — negative. Per door: $-89/mo.
• To cash-flow at today's rent, offer at most $2.21M (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.83M (20.5% below list).
• Recommended offer: $1.83M (20.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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); 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 (+15.8%/yr); 362 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $18,290/mo this rent would consume 311% of the median local household income ($71k/yr) (locally 4771% 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 $16k of loan paydown is wiped out by about $69k 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

• It's been on market 66 days — a 6% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.26M; list at $2.30M implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $1,829,000 (20.5% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
11. 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.
12. 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.
13. 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: 0.80% ✗
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.52×
• Total profit: $-310,258
• Equity at exit: $342,937

10-year hold

• IRR: 2.2%
• Equity multiple: 1.19×
• Total profit: $124,914
• Equity at exit: $198,862

Cash invested: $644,000 (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 11229

• Rents YoY: 15.8%
• Active inventory: 362
• Price-to-rent: 62.9×

Monthly cashflow live

• Estimated rent: $18,290 medium
• Mortgage (P&I): −$12,061
• Tax from tax record: −$1,962 /mo · $23,545/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,841
• Net cashflow: $-533

Break-even live

Break-even rent $18,964

Max offer price $2,205,884

Occupancy floor 98%

Sensitivity live

Price	-10% $769	-5% $118	+0% $-533	+5% $-1,184	+10% $-1,835
Rent	-10% $-1,978	-5% $-1,255	+0% $-533	+5% $190	+10% $912
Rate	-1.0pp $626	-0.5pp $52	base $-533	+0.5pp $-1,129	+1.0pp $-1,735

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$18,288
Total (6 units)			$18,290

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: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $2,300,000 Active 66 DOM
2. 2026-06-21
   days on market $2,300,000 Active 65 DOM
3. 2026-06-18
   days on market $2,300,000 Active 62 DOM
4. 2026-06-17
   days on market $2,300,000 Active 61 DOM
5. 2026-06-15
   days on market $2,300,000 Active 59 DOM
6. 2026-06-13
   days on market $2,300,000 Active 57 DOM
7. 2026-06-10
   days on market $2,300,000 Active 53 DOM
8. 2026-06-08
   days on market $2,300,000 Active 52 DOM
9. 2026-06-08
   days on market $2,300,000 Active 51 DOM
10. 2026-06-04
    days on market $2,300,000 Active 48 DOM
11. 2026-06-03
    days on market $2,300,000 Active 47 DOM
12. 2026-06-01
    days on market $2,300,000 Active 45 DOM
13. 2026-05-31
    days on market $2,300,000 Active 44 DOM
14. 2026-04-17
    listed $2,300,000 Active
15. 2025-12-04
    price $2,338,000
16. 2025-11-08
    price $2,380,000
17. 2025-09-02
    price $2,500,000
18. 2024-08-24
    price $1,950,000
19. 2024-02-02
    price $2,750,000
20. 2014-03-13
    soldstatus $1,260,000
21. 1985-03-01
    soldstatus $117,000

ⓘ 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: $23,545 · $1,962/mo
• Projected year-2 tax: $31,207 · $2,601/mo
• Expected delta: +$7,662/yr (+$639/mo · 32.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 72% 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: $219,480
• − Mortgage interest: −$128,836
• − Property taxes: −$23,545
• − Insurance: −$11,500
• − Repairs & maintenance: −$17,558
• − Management: −$17,558
• − Depreciation: −$66,909
• Taxable loss: −$46,427
• Est. tax savings @ 24.0%: +$11,142
• After-tax cash flow: $4,749/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

+1865.8% since first listed

8 events — show timeline

• 2026-04-17 Listed $2,300,000 BNYMLS
• 2025-12-04 Price Changed $2,338,000 BNYMLS
• 2025-11-08 Price Changed $2,380,000 BNYMLS
• 2025-09-02 Price Changed $2,500,000 BNYMLS
• 2024-08-24 Price Changed $1,950,000 BNYMLS
• 2024-02-02 Price Changed $2,750,000 BNYMLS
• 2014-03-13 Sold (Public Records) $1,260,000 Public Records
• 1985-03-01 Sold (Public Records) $117,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $23,545 · +5.0% YoY. Source: county tax records.