567 W 184th St · New York, NY 10033

$895,000

5 bd · 5.0 ba · 4,684 sqft · MultiFamily public records · 52 Days on market

Built 1920 Good condition 2,475 sqft lot $191/sqft · 31% below area Est $1.295M · 31% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +8.3/10.0
• Appreciation +6.1/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0

Listing remarks

Welcome to 567 W. 184th Street - a charming, 4,685-gsf, 25-foot-wide gem in the heart of bustling Washington Heights, offered at an attractive $190 psf. With 5 spacious, equally sized, 2-bedroom units, this property presents a unique and affordable opportunity to enter the Manhattan multifamily market and build generational wealth. Built in 1920, this classic, well-maintained multifamily property is the blank canvas of your dreams, awaiting your personal touch! The property is also significantly under-built (current zoning code allows for a building more than twice its current size), creating a host of expansion options for a future owner.

Key facts

• Under-built property
• 2,475 sq ft lot
• Built 1920

Tags

• CUSTOM HOME OPPORTUNITY
• RELIABLE REVENUE STREAM
• UNDER-BUILT PROPERTY
• EXPANDING CURRENT STRUCTURE

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $895k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $10k ($118k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $895k).
• Recommended offer: $868k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.4% vs local median 2.7% 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); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% 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 (+6.5%/yr); 111 active listings in the ZIP; solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $20,651/mo this rent would consume 330% of the median local household income ($75k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($6k loan paydown + $20k appreciation (2.2% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.2% appreciation + 6.5% rent growth), your $251k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($868k) is reasonable based on typical stale-listing flexibility.
• 10 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $868,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.31% ✓
• Cap rate: 19.44%
• Cash-on-cash: 46.94%
• DSCR: 3.09
• GRM: 3.6

CMA / ARV

• ARV (median comp): $1,295,248
• List price: $895,000
• Delta: -30.90%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1917 Loring Pl S	0.93mi	6/4.0 (+1)	4,704 (+0%)	5mo	$1,110,000	$236	51
521 W 156th St Unit 5A	1.39mi	5/4.5	4,938 (+5%)	28mo	$640,000	$130	34
2201 University Ave	1.30mi	4/— (-1)	3,759 (-20%)	3mo	$800,000	$213	33
1839 Andrews Ave	0.88mi	6/6.0 (+1)	4,187 (-11%)	9mo	$800,000	$191	31
1927 Loring Pl S	0.94mi	6/4.0 (+1)	4,312 (-8%)	23mo	$810,000	$188	24
1666 Grand Ave	0.94mi	5/3.0	3,708 (-21%)	32mo	$750,000	$202	12
1881 Andrews Ave	0.93mi	6/2.0 (+1)	3,542 (-24%)	21mo	$750,000	$212	6

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.18% appreciation · 6.53% rent growth · sell at horizon

5-year hold

• IRR: 54.5%
• Equity multiple: 4.07×
• Total profit: $770,593
• Equity at exit: $361,939

10-year hold

• IRR: 56.4%
• Equity multiple: 9.18×
• Total profit: $2,048,907
• Equity at exit: $528,143

Cash invested: $250,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $1,600,000 ($430/sqft)
• Median days on market: 148 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -35.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 10033

• Home prices YoY: 1.4%
• Rents YoY: 6.5%
• Active inventory: 111
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $20,651 medium
• Mortgage (P&I): −$4,693
• Tax from tax record: −$1,444 /mo · $17,334/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,337
• Net cashflow: $9,803

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$20,650
Total (5 units)			$20,651

Break-even live

Break-even rent $8,242

Max offer price $895,000

Occupancy floor 48%

Sensitivity live

Price	-10% $10,310	-5% $10,057	+0% $9,803	+5% $9,550	+10% $9,297
Rent	-10% $8,172	-5% $8,988	+0% $9,803	+5% $10,619	+10% $11,435
Rate	-1.0pp $10,254	-0.5pp $10,031	base $9,803	+0.5pp $9,571	+1.0pp $9,336

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: $223,750
• Closing costs: $26,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2360 Amsterdam Ave Unit 6A New York, NY	3.0	2.0	1175	$4,500	$3.83	74d	1	0.36mi
205 Cabrini Blvd Unit 6C New York, NY	2.0	2.0	—	$5,077	—	74d	1	0.42mi
205 Cabrini Blvd New York, NY	2.0	2.0	—	$5,500	—	15d	1	0.42mi
40 Pinehurst Ave Ph 7B New York, NY	2.0	2.0	1043	$5,200	$4.99	60d	1	0.44mi
280 Fort Washington Ave New York, NY	3.0	1.0	—	$4,800	—	0d	1	0.64mi
280 Fort Washington Ave New York, NY	3.0	2.0	—	$4,800	—	42d	1	0.64mi
280 Fort Washington Ave Unit 66 New York, NY	3.0	1.0	—	$4,800	—	2d	1	0.64mi
270 Fort Washington Ave New York, NY	3.0	1.5	—	$4,800	—	0d	1	0.65mi
270 Fort Washington Ave New York, NY	3.0	2.0	—	$4,800	—	4d	1	0.65mi
270 Fort Washington Ave New York, NY	3.0	2.0	—	$4,800	—	34d	1	0.65mi
270 Fort Washington Ave New York, NY	3.0	1.5–2.0	—	$4,800	—	2d	1	0.65mi
703 W 171st St Unit 8 New York, NY	2.0	2.0	—	$5,250	—	42d	1	0.67mi
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	74d	1	1.13mi
407 W 206th St New York, NY	1.0–2.0	1.0–2.0	—	$4,800	—	50d	2	1.14mi

Property features AI

Finance

• Financial info: Annual taxes listed
• HOA & community: Pets allowed in building

Exterior

• Home design: 3 stories
• Construction: Lot dimensions approximately 25 x 99Lot area approximately 2,475
• Exterior features: Private outdoor space (under 60 sqft)Terrace

Interior

• Bedrooms: 6 rooms total
• Bathrooms: 5 full bathrooms
• Interior features: Intercom
• Laundry & utility: Laundry details: see remarks

Listing history 41 events

1. 2026-08-06
   days on market $895,000 Active 52 DOM
2. 2026-08-05
   days on market $895,000 Active 51 DOM
3. 2026-08-04
   days on market $895,000 Active 50 DOM
4. 2026-08-03
   days on market $895,000 Active 49 DOM
5. 2026-07-31
   days on market $895,000 Active 46 DOM
6. 2026-07-30
   days on market $895,000 Active 45 DOM
7. 2026-07-30
   days on market $895,000 Active 44 DOM
8. 2026-07-26
   days on market $895,000 Active 41 DOM
9. 2026-07-24
   days on market $895,000 Active 39 DOM
10. 2026-07-23
    days on market $895,000 Active 38 DOM
11. 2026-07-22
    days on market $895,000 Active 37 DOM
12. 2026-07-21
    days on market $895,000 Active 36 DOM
13. 2026-07-20
    days on market $895,000 Active 35 DOM
14. 2026-07-18
    days on market $895,000 Active 33 DOM
15. 2026-07-18
    days on market $895,000 Active 32 DOM
16. 2026-07-16
    days on market $895,000 Active 31 DOM
17. 2026-07-15
    days on market $895,000 Active 30 DOM
18. 2026-07-14
    days on market $895,000 Active 29 DOM
19. 2026-07-14
    days on market $895,000 Active 28 DOM
20. 2026-07-13
    days on market $895,000 Active 27 DOM
21. 2026-07-11
    days on market $895,000 Active 26 DOM
22. 2026-07-10
    days on market $895,000 Active 25 DOM
23. 2026-07-09
    days on market $895,000 Active 24 DOM
24. 2026-07-07
    days on market $895,000 Active 22 DOM
25. 2026-07-06
    days on market $895,000 Active 21 DOM
26. 2026-07-05
    days on market $895,000 Active 19 DOM
27. 2026-07-03
    days on market $895,000 Active 18 DOM
28. 2026-07-02
    days on market $895,000 Active 17 DOM
29. 2026-07-01
    days on market $895,000 Active 16 DOM
30. 2026-06-30
    days on market $895,000 Active 15 DOM
31. 2026-06-29
    days on market $895,000 Active 14 DOM
32. 2026-06-28
    days on market $895,000 Active 13 DOM
33. 2026-06-27
    days on market $895,000 Active 12 DOM
34. 2026-06-26
    days on market $895,000 Active 11 DOM
35. 2026-06-24
    days on market $895,000 Active 9 DOM
36. 2026-06-22
    days on market $895,000 Active 7 DOM
37. 2026-06-21
    days on market $895,000 Active 6 DOM
38. 2026-06-18
    days on market $895,000 Active 3 DOM
39. 2026-06-17
    days on market $895,000 Active 2 DOM
40. 2026-06-15
    remarks 699-char remark
41. 2026-06-15
    listed $895,000 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: $17,334 · $1,444/mo
• Projected year-2 tax: $17,334 · $1,444/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $247,812
• − Mortgage interest: −$50,134
• − Property taxes: −$17,334
• − Insurance: −$4,475
• − Repairs & maintenance: −$19,825
• − Management: −$19,825
• − Depreciation: −$26,036
• Taxable income: $110,183
• Est. tax owed @ 24.0%: −$26,444
• After-tax cash flow: $91,197/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $23,420–$70,260 screening

This multi-family property is in good condition with minimal repairs needed. It offers a blank canvas for future expansion and renovation opportunities.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — roofs are not visible in the images
• Major Windows (windows) — windows are not visible in the images
• Major Electrical (electrical) — electrical panels are not visible in the images
• Major Plumbing (plumbing) — plumbing is not visible in the images
• Major Exterior (exterior) — exteriors are not visible in the images
• Major Other — other components are not visible in the images

Value-add opportunities

• Resale Paint the exterior walls and siding — A fresh coat of paint can significantly enhance the curb appeal and resale value of the property. ↑
• Resale Replace worn-out windows — New windows can improve energy efficiency and increase the property's marketability. ↑
• Resale Replace worn-out flooring — Fresh flooring can make the property more attractive to potential buyers and renters. ↑
• Resale Paint the interior walls and paint — A fresh coat of paint can significantly enhance the curb appeal and resale value of the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

A Composite school gradezoned avg 83/100

Zoned Schools

Elementary Ps/is 266 B- NY #745/2,108 Nat'l #7,252/41,679 Middle Mark Twain Is 239 For The Gifted And Talented A+ NY #6/729 Nat'l #25/14,009 High Leon M Goldstein High School For The Sciences A+ NY #56/1,100 Nat'l #83/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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: New York County · 1,825,725 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 54,838
• Household income: $75,040
• Rent vs Own: 84.2% rent · 15.8% own
• Severe rent burden: 13% of renters

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Population outlook (New York County) Hauer SSP2

• Today (2025): 1,825,725 people
• By 2030: 1,904,611 · +4.3%
• By 2040: 2,052,719 · +12.4%
• By 2050: 2,206,601 · +20.9%
• By 2075: 2,509,427 · +37.4%
• By 2100: 2,702,933 · +48.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 27% Two or more races 20% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 3% Dominican 39%
• Common ancestry: Scotch-Irish 2% Romanian 2% Lithuanian 1%
• Foreign-born: 41% · Canada, China, Jamaica
• Languages at home: 36% English-only · Spanish 56% Russian/Polish/Slavic 2% Other Indo-European 2%

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Political lean MEDSL · New York

• 2024 margin: Solid D (+64.8) · D 82.4% · R 17.6%
• 2008→2024 swing: -7.4pp toward R · 2008: 72.2pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+74.5 2016: D+77.2 2012: D+69.6 2008: D+72.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 164.3121
• Rent YoY: ▲ 6.53%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Annual taxes listed
• HOA & community: Pets allowed in building

Exterior

• Home design: 3 stories
• Construction: Lot dimensions approximately 25 x 99Lot area approximately 2,475
• Exterior features: Private outdoor space (under 60 sqft)Terrace

Interior

• Bedrooms: 6 rooms total
• Bathrooms: 5 full bathrooms
• Interior features: Intercom
• Laundry & utility: Laundry details: see remarks

Price history

+2883.3% since first listed

14 events — show timeline

• 2026-06-15 Listed $895,000 RLS at REBNY
• 2024-05-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-12 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-08 Price Changed $1,250,000 RLS at REBNY
• 2023-03-29 Relisted — RLS at REBNY
• 2023-03-28 Relisted — RLS at REBNY
• 2023-03-27 Relisted — RLS at REBNY
• 2023-03-26 Relisted — RLS at REBNY
• 2023-03-25 Relisted — RLS at REBNY
• 2023-03-24 Relisted — RLS at REBNY
• 2023-03-23 Relisted — RLS at REBNY
• 2023-03-22 Listed $1,350,000 RLS at REBNY
• 2016-02-10 Sold (Public Records) $860,000 Public Records
• 1984-06-05 Sold (Public Records) $30,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $17,334 · +3.3% YoY. Source: county tax records.