522 E 51 St · New York, NY 11203

$649,000

66 bd · 36.0 ba · — sqft · MultiFamily · 46 Days on market

Fair condition 3,000 sqft lot ↓ 41% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks

Welcome to 522 East 51st Street, a rent-stabilized 6-family residence offering exceptional investment potential. An excellent opportunity for investors seeking long-term stability and upside.

Key facts

• 3,000 sq ft lot
• Listed 46 days

Property features AI

Finance

• Other: Six-unit multifamily property (six individual units); Building amenities: none reported; Property located in Brooklyn, cross street Tilden Ave
• Financial info: Cash financing noted

Exterior

• Parking: Parking described as other
• Utilities: Electric service listed as other; Hot water system listed as other; Heating fuel listed as other; Heat delivery listed as other; Estimated utility expense: $648 (reported)
• Home design: Semi-detached residential building
• Construction: Construction materials listed as other; Roof described as other (see remarks); Other type foundation
• Exterior features: Yard with other features (see remarks); Exterior details listed as other (see remarks)

Interior

• Bedrooms: Six rental units: two 1‑bed units, three 2‑bed units, one 3‑bed unit; Individual unit bedroom counts range from 1 to 3
• Flooring: Other/custom flooring (see remarks)
• Bathrooms: Total of 6 full bathrooms across the building; Each unit has one full bath
• Heating & cooling: Heating type and fuel listed as other (see remarks); No AC units indicated
• Interior features: Basement with other amenities (see remarks); Additional or custom flooring (see remarks); No central air units reported

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/6.0-bath units multifamily listed at $649k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $19k ($224k/yr) — positive. Per door: $3k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $649k).
• Recommended offer: $630k (3.0% below list) — sets the bar for market timing.
• Cap rate 40.9% 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 (+2.9%/yr); 190 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $29,342/mo this rent would consume 519% of the median local household income ($68k/yr) (locally 5458% 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 $4k of loan paydown is wiped out by about $19k 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 + 2.9% rent growth), your $182k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $49k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% 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 $629,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 4.52% ✓
• Cap rate: 40.86%
• Cash-on-cash: 123.45%
• DSCR: 6.49
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.96×
• Total profit: $1,082,733
• Equity at exit: $96,768

10-year hold

• IRR: —
• Equity multiple: 14.56×
• Total profit: $2,464,558
• Equity at exit: $56,114

Cash invested: $181,720 (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 11203

• Rents YoY: 2.9%
• Active inventory: 190
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $29,342 medium
• Mortgage (P&I): −$3,403
• Tax est. 1.5%: −$811 /mo · $9,735/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,162
• Net cashflow: $18,695

Break-even live

Break-even rent $5,677

Max offer price $649,000

Occupancy floor 31%

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	6	$29,340
Total (6 units)			$29,342

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-08
   statusdays on market $649,000 Pending 46 DOM
2. 2026-06-08
   days on market $649,000 Active 45 DOM
3. 2026-06-04
   days on market $649,000 Active 42 DOM
4. 2026-06-03
   days on market $649,000 Active 41 DOM
5. 2026-06-01
   days on market $649,000 Active 39 DOM
6. 2026-05-31
   days on market $649,000 Active 38 DOM
7. 2026-05-02
   price $649,000
8. 2026-04-23
   listed $698,000 Active
9. 2026-03-15
   price $698,000
10. 2026-02-18
    price $795,500
11. 2017-04-26
    historical
12. 2016-08-04
    status Under Contract
13. 2016-07-05
    price $929,000
14. 2016-06-08
    listed $999,000 New
15. 2016-02-24
    listed $1,100,000

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

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 64% 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: $352,104
• − Mortgage interest: −$36,354
• − Property taxes: −$9,735
• − Insurance: −$3,245
• − Repairs & maintenance: −$28,168
• − Management: −$28,168
• − Depreciation: −$18,880
• Taxable income: $227,553
• Est. tax owed @ 24.0%: −$54,613
• After-tax cash flow: $169,728/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 · 7 photos

Fair 45/100 Moderate rehab

A moderately rehabbed 6-family residence with average exterior condition. Painting and landscaping improvements would significantly enhance its resale and rental value.

Repairs flagged

• Minor Brick facade — Some discoloration and wear visible.
• Minor Roof — Aged appearance, but no immediate structural concerns.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and property value.
• Both Landscaping and fencing maintenance — Improves curb appeal and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Brick facade · Some discoloration and wear visible.	Minor	$500–3,000
Roof · Aged appearance, but no immediate structural concerns.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and property value. ↑
• Both Landscaping and fencing maintenance — Improves curb appeal and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 74,817
• Household income: $67,897
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 5458.0

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 (78%)
• Race & ethnicity: Black 78% Two or more races 10% Hispanic / Latino 7% White 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 9%
• Foreign-born: 49% · Canada, Mexico, China
• Languages at home: 81% English-only · French/Haitian/Cajun 10% Spanish 5% Other Indo-European 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: ▼ -572.37%
• Current HPI: 379.2379
• Rent YoY: ▲ 2.89%
• 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

-41.0% since first listed

9 events — show timeline

• 2026-05-02 Price Changed $649,000 BNYMLS
• 2026-04-23 Listed $698,000 BNYMLS
• 2026-03-15 Price Changed $698,000 BNYMLS
• 2026-02-18 Price Changed $795,500 BNYMLS
• 2017-04-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-08-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2016-07-05 Price Changed $929,000 OneKey® MLS as Distributed by MLS Grid
• 2016-06-08 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2016-02-24 Listed $1,100,000 RLS at REBNY