2342 Dean St · New York, NY 11233

$749,999

4 bd · 2.0 ba · 1,660 sqft · MultiFamily public records · 87 Days on market

Built 1910 2,679 sqft lot Est $968k · 23% under ↓ 6% since listing

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Why this score? — see what drove the B- 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 +19.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Excellent opportunity to own a two-family property in Ocean Hill with significant upside. The home features a full basement with a private outside entrance and is ideally situated near public transportation, shopping, and community amenities. In need of renovation, this as-is sale is perfect for investors or end users looking to add value in a growing location.

Key facts

• Full basement
• Two-family property
• 2,679 sq ft lot

Tags

• TWO-FAMILY PROPERTY
• FULL BASEMENT
• PRIVATE OUTSIDE ENTRANCE
• PUBLIC TRANSPORTATION
• NEIGHBORHOOD AMENITIES
• DESIRABLE OCEAN HILL LOCATION

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront; No additional parcels

Interior

• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Finished walk-out basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive. Per door: $417/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 $666k (11.2% below list).
• Recommended offer: $666k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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 (+6.4%/yr); 152 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $6,660/mo this rent would consume 128% of the median local household income ($62k/yr) (locally 6960% 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 $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 6.4% rent growth), your $210k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($705k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $666,000 (11.2% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 11% 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 1910 — 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: 0.89% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $967,780
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 Somers St	0.39mi	5/4.0 (+1)	1,708 (+3%)	3mo	$900,000	$527	62
231 Macdougal St	0.41mi	4/2.0	1,440 (-13%)	8mo	$990,000	$688	52
1599 Bushwick Ave	0.58mi	5/2.0 (+1)	1,606 (-3%)	13mo	$945,000	$588	52
306 Sumpter St	0.43mi	5/3.0 (+1)	1,750 (+5%)	19mo	$925,000	$529	46
702 Chauncey St	0.69mi	5/3.0 (+1)	1,800 (+8%)	15mo	$1,050,000	$583	32

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 · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.31×
• Total profit: $485,079
• Equity at exit: $675,659

10-year hold

• IRR: 26.0%
• Equity multiple: 7.86×
• Total profit: $1,441,550
• Equity at exit: $1,457,083

Cash invested: $210,000 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $6,660 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$182 /mo · $2,180/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,399
• Net cashflow: $834

Break-even live

Break-even rent $5,604

Max offer price $749,999

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,660
Total (2 units)			$6,660

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Granite St Brooklyn, NY	4.0	2.0	586	$1,150	$1.96	4d	1	0.51mi
105 Weirfield St Brooklyn, NY	5.0	2.0	660	$1,190	$1.80	5d	1	0.97mi
1066 Putnam Ave Brooklyn, NY	4.0	2.0	647	$1,110	$1.71	5d	1	0.99mi
819 Saratoga Ave Brooklyn, NY	3.0	1.5	1300	$3,350	$2.58	24d	1	1.02mi
951 Madison St Brooklyn, NY	5.0	1.0	650	$1,280	$1.97	5d	1	1.07mi
148 Cornelia St Brooklyn, NY	4.0	1.0	652	$1,190	$1.82	20d	1	1.13mi
1225 Hancock St Brooklyn, NY	4.0	2.0	600	$1,230	$2.05	20d	1	1.19mi
1083 Thomas S Boyland St Unit 2 Brooklyn, NY	4.0	1.0	1100	$3,600	$3.27	24d	1	1.47mi

Listing history 13 events

1. 2026-06-18
   days on market $749,999 Active 87 DOM
2. 2026-06-17
   days on market $749,999 Active 86 DOM
3. 2026-06-15
   days on market $749,999 Active 84 DOM
4. 2026-06-13
   days on market $749,999 Active 82 DOM
5. 2026-06-10
   days on market $749,999 Active 78 DOM
6. 2026-06-08
   days on market $749,999 Active 77 DOM
7. 2026-06-08
   days on market $749,999 Active 76 DOM
8. 2026-06-04
   days on market $749,999 Active 73 DOM
9. 2026-06-03
   days on market $749,999 Active 72 DOM
10. 2026-06-01
    days on market $749,999 Active 70 DOM
11. 2026-05-31
    days on market $749,999 Active 69 DOM
12. 2026-04-30
    price $749,999
13. 2026-03-23
    listed $799,999 Active

ⓘ 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: $2,180 · $182/mo
• Projected year-2 tax: $7,428 · $619/mo
• Expected delta: +$5,247/yr (+$437/mo · 240.7%)

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

Taxation est. · year 1

• Rental income: $79,920
• − Mortgage interest: −$42,012
• − Property taxes: −$2,180
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,394
• − Management: −$6,394
• − Depreciation: −$21,818
• Taxable loss: −$2,627
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $10,640/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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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 (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

-6.3% since first listed

2 events — show timeline

• 2026-04-30 Price Changed $749,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $799,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2024): $2,180 · +4.8% YoY. Source: county tax records.