1119 Putnam Ave · New York, NY 11221

$1,700,000

6 bd · 3.0 ba · 3,000 sqft · MultiFamily public records · 153 Days on market

Built 1910 2,000 sqft lot Est $1230k · 38% over

---

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).

• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.0/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to 1119 Putnam Avenue, Brooklyn, NY 11221 Located in the heart of Bushwick, this classic three-family brick townhouse presents a strong opportunity for end users or investors. The property spans approximately 3,000 square feet across three units, each offering a two-bedroom, one-bath layout, and features solid pre-war construction with excellent upside potential. Set on a quiet residential block, the building offers a traditional layout ideal for rental income, owner-occupancy, or long-term hold. Conveniently located near the J/Z subway lines, with easy access to local shops, cafés, and neighborhood amenities. The home requires some TLC, offering the chance to customize and

Key facts

• Traditional layout
• 2,000 sq ft lot
• Built 1910

Tags

• SOLID PRE-WAR CONSTRUCTION
• TRADITIONAL LAYOUT
• EASY ACCESS TO LOCAL SHOPS
• VERSATILE MULTIFAMILY ASSET

Property features AI

Finance

• Financial info: Tax year 2024

Exterior

• Parking: No designated parking; No carport
• Utilities: Public sewer; No utilities specified
• Home design: Triplex; Approximately 3,000 square feet
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront; No additional parcels

Interior

• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Wall/window AC units
• Interior features: Other interior features; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative. Per door: $-640/mo.
• To cash-flow at today's rent, offer at most $1.36M (19.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.02M (40.0% below list).
• Recommended offer: $1.02M (40.0% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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 (+5.2%/yr); 211 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,202/mo this rent would consume 143% of the median local household income ($86k/yr) (locally 8053% 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 $182k of equity ($12k loan paydown + $170k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$292k 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 ($1.50M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $650k; list at $1.70M implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 39% 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 $1,020,200 (40.0% 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 153 days. Have you received any prior offers? Is the seller open to a 40% 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 1910 — 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: 0.60% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• GRM: 13.9

CMA / ARV

• ARV (on-the-fly): $1,230,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1234 Madison St	0.46mi	7/3.0 (+1)	3,000 (0%)	3mo	$1,192,000	$397	71
153 Weirfield St	0.32mi	7/3.0 (+1)	3,000 (0%)	12mo	$1,230,000	$410	70
1285 Putnam Ave	0.35mi	5/3.0 (-1)	2,850 (-5%)	3mo	$1,100,000	$386	68
1287 Putnam Ave	0.36mi	5/3.0 (-1)	2,850 (-5%)	9mo	$1,100,000	$386	63
657 Evergreen	0.44mi	5/3.0 (-1)	2,850 (-5%)	14mo	$975,000	$342	55
699 Decatur St	0.39mi	5/3.0 (-1)	2,700 (-10%)	12mo	$1,350,000	$500	50
737 Decatur St	0.42mi	7/2.0 (+1)	2,700 (-10%)	6mo	$1,162,000	$430	50
40 Weirfield St	0.22mi	5/2.0 (-1)	3,300 (+10%)	18mo	$1,050,000	$318	49
166 Schaefer St	0.53mi	7/2.0 (+1)	2,700 (-10%)	1mo	$1,270,000	$470	49
1220 Greene Ave	0.50mi	7/2.0 (+1)	3,324 (+11%)	4mo	$1,220,000	$367	47
677 Macon St	0.44mi	6/2.5	3,368 (+12%)	19mo	$1,800,000	$534	41
1203 Hancock St	0.39mi	5/3.0 (-1)	2,565 (-14%)	24mo	$1,185,000	$462	33

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

Projected returns pro-forma

10.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.73×
• Total profit: $825,215
• Equity at exit: $1,531,495

10-year hold

• IRR: 19.7%
• Equity multiple: 6.41×
• Total profit: $2,574,319
• Equity at exit: $3,302,726

Cash invested: $476,000 (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 11221

• Home prices YoY: 3.3%
• Rents YoY: 5.2%
• Active inventory: 211
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $10,202 high
• Mortgage (P&I): −$8,915
• Tax from tax record: −$356 /mo · $4,270/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,142
• Net cashflow: $-1,920

Break-even live

Break-even rent $12,632

Max offer price $1,360,898

Occupancy floor —

Sensitivity live

Price	-10% $-957	-5% $-1,438	+0% $-1,920	+5% $-2,401	+10% $-2,882
Rent	-10% $-2,726	-5% $-2,323	+0% $-1,920	+5% $-1,517	+10% $-1,114
Rate	-1.0pp $-1,063	-0.5pp $-1,487	base $-1,920	+0.5pp $-2,360	+1.0pp $-2,808

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$10,203
Total (3 units)			$10,202

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $1,700,000 Active 153 DOM
2. 2026-06-18
   days on market $1,700,000 Active 150 DOM
3. 2026-06-17
   days on market $1,700,000 Active 149 DOM
4. 2026-06-15
   days on market $1,700,000 Active 147 DOM
5. 2026-06-13
   days on market $1,700,000 Active 145 DOM
6. 2026-06-10
   days on market $1,700,000 Active 141 DOM
7. 2026-06-08
   days on market $1,700,000 Active 140 DOM
8. 2026-06-04
   days on market $1,700,000 Active 136 DOM
9. 2026-06-03
   days on market $1,700,000 Active 135 DOM
10. 2026-06-01
    days on market $1,700,000 Active 133 DOM
11. 2026-05-31
    days on market $1,700,000 Active 132 DOM
12. 2026-01-19
    listed $1,700,000 Active
13. 2022-07-11
    soldstatus $650,000

ⓘ 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: $4,270 · $356/mo
• Projected year-2 tax: $16,500 · $1,375/mo
• Expected delta: +$12,230/yr (+$1,019/mo · 286.4%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% 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: $122,424
• − Mortgage interest: −$95,226
• − Property taxes: −$4,270
• − Insurance: −$8,500
• − Repairs & maintenance: −$9,794
• − Management: −$9,794
• − Depreciation: −$49,455
• Taxable loss: −$54,615
• Est. tax savings @ 24.0%: +$13,108
• After-tax cash flow: $-9,927/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): 91,588
• Household income: $85,736
• Rent vs Own: 78.8% rent · 21.2% own
• Severe rent burden: 8053.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 37% Hispanic / Latino 32% White 20% Two or more races 15% Asian 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Dominican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Hispanic 1%
• Foreign-born: 27% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 24% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▲ 18.95%
• Current HPI: 597.7817
• Rent YoY: ▲ 5.15%
• 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

+161.5% since first listed

2 events — show timeline

• 2026-01-19 Listed $1,700,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-11 Sold (Public Records) $650,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,270 · -1.6% YoY. Source: county tax records.