32 Franklin Pl · New York, NY 10314

$849,900

4 bd · 3.0 ba · 1,090 sqft · MultiFamily public records · 10 Days on market

Built 1998 2,269 sqft lot Est $727k · 17% over

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Why this score? — see what drove the F 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 +7.6/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0
• ARV discount +0.0/15.0
• 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 MLS

Semi-detached legal two (2) family with a private driveway in prime Manor Heights, built in 1998, excellent location, move in ready. Upper 2 stories features a 3-bedroom 1.5 baths duplex over a 1-bedroom unit on lower level. Hardwood flooring throughout, central HVAC, separate utilities, 2 entrances, huge irregular backyard. House is 12x58, lot is 16x107, annual property tax is 6,458. Close to all. Priced to sell. Motivated seller.

Key facts

• Hardwood flooring
• Central hvac
• Separate utilities

Tags

• PRIVATE DRIVEWAY
• MOVE IN READY
• HARDWOOD FLOORING
• CENTRAL HVAC
• SEPARATE UTILITIES
• HUGE IRREGULAR BACKYARD

Property features AI

Finance

• Other: Annual tax amount listed (not included per instructions)
• Financial info: Two rental units total

Exterior

• Parking: No attached garage
• Utilities: 220-volt electrical service
• Home design: 3-story multi-family building; Total building area about 2,088
• Construction: Vinyl siding exterior; Year built listed as approximate
• Exterior features: Lot approximately 0.05 acres (about 2,269 sq ft), roughly 16 x 107; Zoned R3

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 3 bedrooms (located on level 23)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Cooling provided by individual units
• Interior features: Central air conditioning (unit-based)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative. Per door: $-515/mo.
• To cash-flow at today's rent, offer at most $668k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $544k (36.0% below list).
• Recommended offer: $544k (36.0% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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); Is 27 Anning S Prall (math 52% / reading 67%, grade B, #161 of 729 statewide, top 24%, 952 students, 76% 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 (+3.9%/yr); 490 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,440/mo this rent would consume 62% of the median local household income ($105k/yr) (locally 2168% 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 $25k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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.
• Current owner paid $405k; list at $850k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $544,000 (36.0% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 4.84%
• Cash-on-cash: -5.19%
• DSCR: 0.77
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $727,030
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
86 Clermont Pl	0.57mi	3/2.5 (-1)	1,200 (+10%)	5mo	$800,000	$667	45

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 · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-198,443
• Equity at exit: $126,723

10-year hold

• IRR: -17.6%
• Equity multiple: 0.00×
• Total profit: $-236,824
• Equity at exit: $73,484

Cash invested: $237,972 (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 10314

• Rents YoY: 3.9%
• Active inventory: 490
• Price-to-rent: 26.0×

Monthly cashflow live

• Estimated rent: $5,440 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$517 /mo · $6,199/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,142
• Net cashflow: $-1,030

Break-even live

Break-even rent $6,744

Max offer price $667,932

Occupancy floor —

Sensitivity live

Price	-10% $-549	-5% $-790	+0% $-1,030	+5% $-1,271	+10% $-1,511
Rent	-10% $-1,460	-5% $-1,245	+0% $-1,030	+5% $-815	+10% $-600
Rate	-1.0pp $-602	-0.5pp $-814	base $-1,030	+0.5pp $-1,250	+1.0pp $-1,474

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$5,440
Total (2 units)			$5,440

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: $212,475
• Closing costs: $25,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 Willowbrook Rd Staten Island, NY	3.0	2.0	1000	$4,000	$4.00	4d	1	1.49mi

Listing history 7 events

1. 2026-06-21
   days on market $849,900 Active 10 DOM
2. 2026-06-18
   days on market $849,900 Active 7 DOM
3. 2026-06-17
   days on market $849,900 Active 6 DOM
4. 2026-06-16
   days on market $849,900 Active 5 DOM
5. 2026-06-15
   days on market $849,900 Active 4 DOM
6. 2026-06-13
   remarks 435-char remark
7. 2026-06-13
   listed $849,900 Active 2 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: $6,199 · $517/mo
• Projected year-2 tax: $10,281 · $857/mo
• Expected delta: +$4,082/yr (+$340/mo · 65.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,280
• − Mortgage interest: −$47,608
• − Property taxes: −$6,199
• − Insurance: −$4,250
• − Repairs & maintenance: −$5,222
• − Management: −$5,222
• − Depreciation: −$24,724
• Taxable loss: −$27,945
• Est. tax savings @ 24.0%: +$6,707
• After-tax cash flow: $-5,654/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 93,915
• Household income: $104,613
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 2168.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Asian 19% Hispanic / Latino 15% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 9% Chinese 7% Other Indo-European 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -553.73%
• Current HPI: 378.3872
• Rent YoY: ▲ 3.93%
• 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

+392.7% since first listed

7 events — show timeline

• 2026-06-11 Listed $849,900 SIBORMLS
• 2026-06-11 Listed $849,900 BNYMLS
• 2004-10-15 Sold (Public Records) $405,000 Public Records
• 2004-07-01 Sold (MLS) $405,000 SIBORMLS
• 2003-12-11 Listed $429,900 SIBORMLS
• 1999-07-19 Sold (Public Records) $193,500 Public Records
• 1999-03-03 Sold (Public Records) $172,500 Public Records

Property tax history

+13.8%/yr

Latest (2025): $6,199 · +6.0% YoY. Source: county tax records.