12 Pauw St · New York, NY 10301

$828,888

15 bd · 18.0 ba · 1,528 sqft · MultiFamily · 35 Days on market

Built 2011 1,528 sqft lot ↓ 3% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Amazing Opportunity to own a Legal 3 Family with all separate utilities located in the heart of New Brighton. Look no further, Great Investment Opportunity to add to your portfolio. This Semi-Attached 3 family was built new in 2011 and was recently updated in 2025 to obtain a Final Certificate of Occupancy. Seeing is believing, Why rent when you can possibly rent 2 apartments and live in one for free. Very Convenient location. Close to all shopping and public transportation. Only minutes from the ferry to Manhattan. Additional Income is 2,000 a month income from the side lot. Possible rent roll of 10,008 per month. Don't miss out on this Incredible Opportunity. * * * The Potential CAP RAT

Key facts

• Separate utilities
• Legal 3 family
• Convenient location

Tags

• LEGAL 3 FAMILY
• SEPARATE UTILITIES
• SEMI-ATTACHED 3 FAMILY
• UPDATED IN 2025
• FINAL CERTIFICATE OF OCCUPANCY
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/6.0-bath units multifamily listed at $829k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $829k).
• Recommended offer: $804k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+6.1%/yr); 265 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $11,402/mo this rent would consume 160% of the median local household income ($86k/yr) (locally 2008% 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $232k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($804k) is reasonable based on typical stale-listing flexibility.

Recommended offer $804,021 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. 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. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 11.04%
• Cash-on-cash: 16.96%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.07% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.48×
• Total profit: $111,020
• Equity at exit: $123,590

10-year hold

• IRR: 23.0%
• Equity multiple: 3.26×
• Total profit: $524,981
• Equity at exit: $71,667

Cash invested: $232,089 (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 10301

• Rents YoY: 6.1%
• Active inventory: 265
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $11,402 medium
• Mortgage (P&I): −$4,347
• Tax est. 1.5%: −$1,036 /mo · $12,433/yr
• Insurance: −$345
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,394
• Net cashflow: $3,279

Break-even live

Break-even rent $7,251

Max offer price $828,888

Occupancy floor 66%

Sensitivity live

Price	-10% $3,852	-5% $3,566	+0% $3,279	+5% $2,993	+10% $2,706
Rent	-10% $2,379	-5% $2,829	+0% $3,279	+5% $3,730	+10% $4,180
Rate	-1.0pp $3,697	-0.5pp $3,490	base $3,279	+0.5pp $3,065	+1.0pp $2,846

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	6	$11,403
Total (3 units)			$11,402

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: $207,222
• Closing costs: $24,867
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-06-24
   status Pending
2. 2025-05-24
   price $828,888
3. 2025-05-20
   listed $858,888 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: $136,824
• − Mortgage interest: −$46,431
• − Property taxes: −$12,433
• − Insurance: −$4,144
• − Repairs & maintenance: −$10,946
• − Management: −$10,946
• − Depreciation: −$24,113
• Taxable income: $27,811
• Est. tax owed @ 24.0%: −$6,675
• After-tax cash flow: $32,677/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): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

-3.5% since first listed

3 events — show timeline

• 2025-06-24 Pending — SIBORMLS
• 2025-05-24 Price Changed $828,888 SIBORMLS
• 2025-05-20 Listed $858,888 SIBORMLS