970 E 108th St · New York, NY 11236

$799,000

4 bd · 2.0 ba · 1,540 sqft · MultiFamily public records · 70 Days on market

Built 1955 2,000 sqft lot Est $688k · 16% 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 +13.2/30.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• 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

Beautiful 2 family brick in a great part of canarsie. 4 spacious bed rooms with plenty of closets space. The basement is full finished with a bar; there is an ose to the back yard.New price change, wow! sellers very motivated

Key facts

• Entrance to backyard
• Renovated kitchen
• New appliances

Tags

• RENOVATED KITCHEN
• NEW APPLIANCES
• FULLY FINISHED BASEMENT
• ENTRANCE TO BACKYARD

Property features AI

Exterior

• Parking: Carport (1 space); Detached/covered parking; Garage (1 space)
• Utilities: Con Edison electric service; Public sewer; Public water; Natural gas available and connected; Electricity available and connected; Sewer available and connected; Water available and connected; Cable available and connected; Phone available and connected; Public trash collection
• Home design: Townhouse structure; Duplex property subtype; Updated/remodeled condition
• Construction: Brick construction; Stone construction; Finished full basement; Crawl attic
• Exterior features: Brick and stone exterior; Not waterfront

Interior

• Kitchen: Granite counters; Kitchen island; Breakfast bar
• Bedrooms: Two 2-bedroom units
• Flooring: Hardwood flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Breakfast bar; Built-in features; Ceiling fans; ENERGY STAR qualified doors; Entrance foyer; Granite countertops; Kitchen island; Primary bathroom; Recessed lighting; Storage; Walk-through kitchen
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $-79 ($-943/yr) — negative. Per door: $-39/mo.
• To cash-flow at today's rent, offer at most $785k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $623k (22.1% below list).
• Recommended offer: $623k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 228 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,228/mo this rent would consume 92% of the median local household income ($81k/yr) (locally 4225% 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 $24k 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.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $410k; list at $799k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $622,800 (22.1% 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. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.78% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $688,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1060 E 105th St	0.20mi	4/2.0	1,635 (+6%)	2mo	$705,000	$431	78
1161 E 101st St	0.43mi	4/2.0	1,540 (0%)	3mo	$595,000	$386	78
10016 Avenue L	0.49mi	3/2.0 (-1)	1,540 (0%)	1mo	$689,000	$447	71
102-24 Avenue K	0.31mi	3/2.0 (-1)	1,612 (+5%)	3mo	$476,500	$296	70
103-10 Avenue L	0.40mi	3/1.0 (-1)	1,540 (0%)	11mo	$750,000	$487	63
1116 E 102nd St	0.37mi	4/2.0	1,612 (+5%)	16mo	$810,000	$502	62
1143 E 99th St	0.49mi	4/2.0	1,642 (+7%)	10mo	$820,000	$499	58
1363 E 94th St	0.74mi	4/2.0	1,512 (-2%)	6mo	$741,000	$490	58
1019 E 104th St	0.18mi	4/3.0	1,760 (+14%)	8mo	$807,500	$459	57
10406 Avenue L	0.38mi	3/2.0 (-1)	1,760 (+14%)	7mo	$750,000	$426	47
743 E 102nd St	0.32mi	3/2.0 (-1)	1,760 (+14%)	15mo	$750,000	$426	44
1322 E 99th St	0.68mi	4/2.0	1,760 (+14%)	2mo	$724,900	$412	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-134,704
• Equity at exit: $119,133

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-124,665
• Equity at exit: $69,083

Cash invested: $223,720 (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 11236

• Active inventory: 228
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $6,228 medium
• Mortgage (P&I): −$4,190
• Tax from tax record: −$409 /mo · $4,911/yr
• Insurance: −$333
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,308
• Net cashflow: $-79

Break-even live

Break-even rent $6,327

Max offer price $785,121

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$6,228
Total (2 units)			$6,228

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1083 Thomas S Boyland St Unit 2 Brooklyn, NY	4.0	1.0	1100	$3,600	$3.27	24d	1	1.07mi

Listing history 17 events

1. 2026-06-18
   days on market $799,000 Active 70 DOM
2. 2026-06-17
   days on market $799,000 Active 69 DOM
3. 2026-06-15
   days on market $799,000 Active 67 DOM
4. 2026-06-13
   days on market $799,000 Active 65 DOM
5. 2026-06-10
   days on market $799,000 Active 61 DOM
6. 2026-06-08
   days on market $799,000 Active 60 DOM
7. 2026-06-08
   days on market $799,000 Active 59 DOM
8. 2026-06-04
   days on market $799,000 Active 56 DOM
9. 2026-06-03
   days on market $799,000 Active 55 DOM
10. 2026-06-01
    days on market $799,000 Active 53 DOM
11. 2026-05-31
    days on market $799,000 Active 52 DOM
12. 2026-04-09
    listed $799,000 Active
13. 2026-04-09
    historical
14. 2026-04-09
    listed $799,000 Active
15. 2012-12-20
    soldstatus $409,500
16. 2011-10-24
    listed $425,000 226-char remark

    Show marketing remark (226 chars)

    Beautiful 2 family brick in a great part of canarsie. 4 spacious bed rooms with plenty of closets space. The basement is full finished with a bar; there is an ose to the back yard.New price change, wow! sellers very motivated

17. 1994-12-16
    soldstatus $145,000

ⓘ 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: $4,911 · $409/mo
• Projected year-2 tax: $9,207 · $767/mo
• Expected delta: +$4,296/yr (+$358/mo · 87.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $74,736
• − Mortgage interest: −$44,756
• − Property taxes: −$4,911
• − Insurance: −$4,792
• − Repairs & maintenance: −$5,979
• − Management: −$5,979
• − Depreciation: −$23,244
• Taxable loss: −$14,926
• Est. tax savings @ 24.0%: +$3,582
• After-tax cash flow: $2,639/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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 (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

+451.0% since first listed

6 events — show timeline

• 2026-04-09 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-09 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2012-12-20 Sold (Public Records) $409,500 Public Records
• 2011-10-24 Listed $425,000 BNYMLS
• 1994-12-16 Sold (Public Records) $145,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $4,911 · -2.4% YoY. Source: county tax records.