1241 E 89th St · New York, NY 11236

$800,000

4 bd · 2.0 ba · 1,890 sqft · MultiFamily public records · 241 Days on market

Built 1920 3,000 sqft lot Est $939k · 15% under

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Why this score? — see what drove the C- 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 +15.4/30.0
• ARV discount +14.2/15.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• 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

Great price at $841,900. Duplex opportunity in Brooklyn, NY. This multifamily home was built in 1920 and sits on a lot of approx. 3,000 sq. ft. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

Key facts

• 3,000 sq ft lot
• Built 1920
• Listed 240 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Utilities: see remarks
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Other heating; No central cooling
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive. Per door: $153/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $686k (14.2% below list).
• Recommended offer: $686k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: 229 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,862/mo this rent would consume 101% 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 $6k of loan paydown is wiped out by about $24k 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 241 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $133k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $570k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $686,200 (14.2% below list)

Questions for the listing agent

1. It's been on market 241 days. Have you received any prior offers? Is the seller open to a 14% 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 1920 — 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: 0.86% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $939,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1248 E 84th St	0.28mi	4/2.0	1,932 (+2%)	7mo	$950	—	77
1496 E 95th St	0.29mi	4/3.0	1,846 (-2%)	7mo	$970,000	$525	73
1322 E 99th St	0.51mi	4/2.0	1,760 (-7%)	2mo	$724,900	$412	62
1110 E 101 St	0.63mi	4/3.0	1,800 (-5%)	5mo	$895,000	$497	55
655 E 85th St	0.74mi	4/3.0	1,864 (-1%)	6mo	$905,000	$486	55
36 Paerdegat 7th St	0.46mi	5/3.0 (+1)	1,800 (-5%)	14mo	$980,000	$544	50
1419 E 98th St	0.48mi	5/2.5 (+1)	2,100 (+11%)	6mo	$955,000	$455	48
1349 E 84th St	0.29mi	3/2.0 (-1)	1,610 (-15%)	12mo	$8,400,000	$5,217	47
1143 E 99th St	0.55mi	4/2.0	1,642 (-13%)	10mo	$820,000	$499	44
9801 Seaview Ave	0.59mi	5/3.0 (+1)	1,625 (-14%)	6mo	$915,000	$563	35
102-24 Avenue K	0.73mi	3/2.0 (-1)	1,612 (-15%)	3mo	$476,500	$296	34
1467 EAST 101 St	0.71mi	5/3.0 (+1)	2,151 (+14%)	5mo	$850,000	$395	30

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

Projected returns pro-forma

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

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-110,342
• Equity at exit: $119,283

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-71,658
• Equity at exit: $69,169

Cash invested: $224,000 (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: 229
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $6,862 medium
• Mortgage (P&I): −$4,195
• Tax from tax record: −$587 /mo · $7,045/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,441
• Net cashflow: $305

Break-even live

Break-even rent $6,476

Max offer price $800,000

Occupancy floor 91%

Sensitivity live

Price	-10% $758	-5% $532	+0% $305	+5% $79	+10% $-148
Rent	-10% $-237	-5% $34	+0% $305	+5% $576	+10% $847
Rate	-1.0pp $708	-0.5pp $509	base $305	+0.5pp $98	+1.0pp $-113

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,862
Total (2 units)			$6,862

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $800,000 Active 241 DOM
2. 2026-06-18
   days on market $800,000 Active 238 DOM
3. 2026-06-17
   days on market $800,000 Active 237 DOM
4. 2026-06-15
   days on market $800,000 Active 235 DOM
5. 2026-06-13
   days on market $800,000 Active 233 DOM
6. 2026-06-10
   days on market $800,000 Active 229 DOM
7. 2026-06-08
   days on market $800,000 Active 228 DOM
8. 2026-06-04
   days on market $800,000 Active 224 DOM
9. 2026-06-03
   days on market $800,000 Active 223 DOM
10. 2026-06-01
    days on market $800,000 Active 221 DOM
11. 2026-05-31
    pricedays on market $800,000 Active 220 DOM
12. 2025-12-30
    price $841,900
13. 2025-11-24
    price $886,200
14. 2025-10-23
    listed $932,800 Active
15. 2013-03-04
    historical
16. 2011-08-31
    status Under Contract
17. 2011-08-30
    listed $359,900 New
18. 2006-09-20
    soldstatus $570,000
19. 2000-08-31
    soldstatus $281,000
20. 2000-08-31
    soldstatus $281,000
21. 1997-06-30
    soldstatus $230,000

ⓘ 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: $7,045 · $587/mo
• Projected year-2 tax: $10,283 · $857/mo
• Expected delta: +$3,237/yr (+$270/mo · 46.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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 65% 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: $82,344
• − Mortgage interest: −$44,812
• − Property taxes: −$7,045
• − Insurance: −$4,000
• − Repairs & maintenance: −$6,588
• − Management: −$6,588
• − Depreciation: −$23,273
• Taxable loss: −$9,961
• Est. tax savings @ 24.0%: +$2,391
• After-tax cash flow: $6,054/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

+266.0% since first listed

10 events — show timeline

• 2025-12-30 Price Changed $841,900 OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $886,200 OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Listed $932,800 OneKey® MLS as Distributed by MLS Grid
• 2013-03-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2011-08-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2011-08-30 Listed $359,900 OneKey® MLS as Distributed by MLS Grid
• 2006-09-20 Sold (Public Records) $570,000 Public Records
• 2000-08-31 Sold (Public Records) $281,000 Public Records
• 2000-08-31 Sold (Public Records) $281,000 Public Records
• 1997-06-30 Sold (Public Records) $230,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $7,045 · -2.4% YoY. Source: county tax records.