22 Avenue O · New York, NY 11204

$2,000,000

None bd · None ba · — sqft · MultiFamily · 289 Days on market

2,000 sqft lot

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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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• 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: 5 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

Price to Go Great investment 5 family 1 store. NO rent control or rent stabilized This is one of few great type of building investments in Brooklyn. 1 vacant apartment at the moment. good tenants pay on time no headaches. Cooperative Agent

Key facts

• 2,000 sq ft lot
• Listed 289 days

Property features AI

Finance

• Other: Utility expense reported as 849.00
• Financial info: Exchange considered; Bank mortgage and cash financing available

Exterior

• Parking: No on-site parking
• Utilities: 110V electric; Gas hot water; Gas heating; Steam/radiator heat
• Home design: Mixed-use property; Attached building
• Construction: Brick exterior; Flat roof; Other foundation; Building footprint about 1,700 sq ft; Building dimensions approximately 85 x 20 ft
• Exterior features: Back yard

Interior

• Flooring: Other flooring (see remarks)
• Heating & cooling: Steam/radiator heat; Gas hot water
• Interior features: Unfinished basement; Other flooring (see remarks)

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.5-bath units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $237/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 $1.90M (5.0% below list).
• Recommended offer: $1.76M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• Market conditions: Rents rising fast (+12.9%/yr); 167 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $18,998/mo this rent would consume 328% of the median local household income ($69k/yr) (locally 4963% 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 $14k of loan paydown is wiped out by about $60k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $560k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($1.76M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $1,760,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.95% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1537 W 11th St	0.05mi	9/6.0	3,600	1mo	$1,850,000	$514	84
6314 23rd Ave	0.39mi	9/7.0	7,200	0mo	$1,575,000	$219	69
6221 23rd Ave	0.44mi	5/5.0	2,016	1mo	$1,650,000	$818	66
172 Highlawn Ave	0.53mi	3/2.0	2,560	1mo	$1,200,000	$469	62
2315 82nd St	0.55mi	9/6.5	3,780	1mo	$2,280,000	$603	61
2144 82nd St	0.57mi	7/6.0	3,395	1mo	$1,850,000	$545	60
1813 Bay Ridge Ave	0.61mi	6/4.0	3,300	1mo	$1,950,000	$591	58
1736 E 2nd St	0.68mi	9/7.0	5,692	1mo	$2,950,000	$518	55
1753 74th St	0.71mi	3/2.0	1,432	1mo	$1,050,000	$733	53
1738 71 St	0.72mi	6/5.0	3,200	1mo	$1,900,000	$594	53
2041 85th St	0.73mi	7/4.0	3,280	1mo	$1,580,000	$482	52
1664 E 4th St	0.74mi	5/3.5	2,520	1mo	$1,980,000	$786	52

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-147,807
• Equity at exit: $298,207

10-year hold

• IRR: 8.2%
• Equity multiple: 1.76×
• Total profit: $426,756
• Equity at exit: $172,923

Cash invested: $560,000 (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 11204

• Home prices YoY: -32.9%
• Rents YoY: 12.9%
• Active inventory: 167
• Price-to-rent: 43.9×

Monthly cashflow live

• Estimated rent: $18,998 high
• Mortgage (P&I): −$10,488
• Tax est. 1.5%: −$2,500 /mo · $30,000/yr
• Insurance: −$833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,990
• Net cashflow: $1,187

Break-even live

Break-even rent $17,496

Max offer price $2,000,000

Occupancy floor 89%

Sensitivity live

Price	-10% $2,569	-5% $1,878	+0% $1,187	+5% $496	+10% $-195
Rent	-10% $-314	-5% $436	+0% $1,187	+5% $1,937	+10% $2,688
Rate	-1.0pp $2,194	-0.5pp $1,696	base $1,187	+0.5pp $669	+1.0pp $141

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.5	$19,000
Total (5 units)			$18,998

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: $500,000
• Closing costs: $60,000
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	17d	1	0.51mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	25d	1	0.92mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	15d	1	0.98mi
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	19d	1	1.09mi
203 Bay 35th St Unit 1 Brooklyn, NY	2.0	1.0	—	$2,500	—	25d	1	1.13mi
2213 Cropsey Ave Brooklyn, NY	1.0	1.0	—	$2,100	—	25d	1	1.15mi
2230 Cropsey Ave Unit 2104 Brooklyn, NY	2.0	2.0	—	$4,805	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1805 Brooklyn, NY	1.0	1.0	—	$3,761	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1609 Brooklyn, NY	1.0	1.0	—	$3,475	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1505 Brooklyn, NY	1.0	1.0	—	$3,395	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1408 Brooklyn, NY	1.0	1.0	—	$3,600	—	25d	1	1.21mi
2230 Cropsey Ave Unit 2606 Brooklyn, NY	2.0	2.0	—	$4,980	—	25d	1	1.21mi
2230 Cropsey Ave Unit 2506 Brooklyn, NY	2.0	2.0	—	$4,960	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1904 Brooklyn, NY	2.0	2.0	—	$4,725	—	25d	1	1.21mi
2230 Cropsey Ave Unit 3104 Brooklyn, NY	2.0	2.0	—	$4,685	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1104 Brooklyn, NY	2.0	2.0	—	$4,645	—	25d	1	1.21mi
2230 Cropsey Ave Unit 1510 Brooklyn, NY	1.0	1.0	—	$3,810	—	25d	1	1.22mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	19d	1	1.23mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	19d	1	1.23mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	19d	1	1.23mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	19d	1	1.23mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	19d	1	1.23mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	25d	1	1.23mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	19d	1	1.23mi
8793 26th Ave Brooklyn, NY	2.0	1.0	—	$2,800	—	25d	1	1.23mi
1723 Shore Pkwy Unit 1 Brooklyn, NY	3.0	1.0	—	$2,800	—	5d	1	1.27mi
34 Bay 10th St Brooklyn, NY	2.0	1.0	—	$2,500	—	25d	1	1.35mi

Listing history 12 events

1. 2026-06-18
   days on market $2,000,000 Active 289 DOM
2. 2026-06-17
   days on market $2,000,000 Active 288 DOM
3. 2026-06-15
   days on market $2,000,000 Active 286 DOM
4. 2026-06-13
   days on market $2,000,000 Active 284 DOM
5. 2026-06-10
   days on market $2,000,000 Active 280 DOM
6. 2026-06-08
   days on market $2,000,000 Active 279 DOM
7. 2026-06-03
   days on market $2,000,000 Active 274 DOM
8. 2026-06-01
   days on market $2,000,000 Active 272 DOM
9. 2026-05-31
   days on market $2,000,000 Active 271 DOM
10. 2025-09-30
    status Active
11. 2025-09-30
    status Pending
12. 2025-09-02
    listed $2,000,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $227,976
• − Mortgage interest: −$112,031
• − Property taxes: −$30,000
• − Insurance: −$10,000
• − Repairs & maintenance: −$18,238
• − Management: −$18,238
• − Depreciation: −$58,182
• Taxable loss: −$18,713
• Est. tax savings @ 24.0%: +$4,491
• After-tax cash flow: $18,734/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): 79,800
• Household income: $69,479
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 4963.0

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 0.62)
• Race & ethnicity: White 53% Asian 29% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Subsaharan African 3% Scotch-Irish 3% Romanian 2%
• Foreign-born: 44% · China, Canada, Vietnam
• Languages at home: 23% English-only · Chinese 23% German/W. Germanic 19% Spanish 10%

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: ▼ -217.07%
• Current HPI: 443.1608
• Rent YoY: ▲ 12.87%
• 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

3 events — show timeline

• 2025-09-30 Relisted — BNYMLS
• 2025-09-30 Pending — BNYMLS
• 2025-09-02 Listed $2,000,000 BNYMLS