321 Milford St · New York, NY 11208

$1,550,000

8 bd · 4.0 ba · — sqft · MultiFamily · 48 Days on market

Built 1925 Poor condition 3,600 sqft lot

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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 +14.3/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

2 Units are vacant: 1 2-bedroom & 1 3-bedroom Brooklyn Milford Street Solid BRICK semi attached legal 4 family with 2 three bedroom & 2 Two-bedroom apartment with huge living room & open plan modern kitchen! All new plumbing, gas line & electric in entire building! New gas boiler with 75-gallon hot water tank & new rubberize roof! 3,184 sq ft living space Building size 26 wide & 72 deep! FEATURES High ceiling & Full basement high ceiling with ceramic tile, lots of windows & 2 entrances! On 36 x 100 lot with private drive R5 zoning. 1,332 unused FAR! Low taxes- All market value tenant with high CAP rate! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! Asking price $1.55ML; Income $139,800-year; Expense-$15,282 NOI-$124,518.00; CAP-8.03% 3 2-bedroom & 1 2-Bedroom! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! FHA Approved!!! Buy with only 3.5% down (Qualify Buyers) Owner VERY motivated!! ALL FREE market rent!! No Restriction!! GREAT CONDITION! MINT!

Key facts

• Solid brick
• High ceiling
• New plumbing

Tags

• SOLID BRICK
• NEW PLUMBING
• NEW GAS BOILER
• NEW RUBBERIZE ROOF
• HIGH CEILING
• FULL BASEMENT

Property features AI

Finance

• Other: Property contains 4 residential units
• Financial info: Financing options may include exchange, assumption, bank mortgage or cash

Exterior

• Parking: Private drive; Detached garage; Parking area with 6+ spaces
• Security: Secure lobby; On-site storage rooms
• Utilities: Electric with circuit breakers; Gas hot water; Gas heating
• Home design: Semi-detached residential building; Flat / rubber roof
• Construction: Brick construction with siding accents; Poured concrete foundation
• Exterior features: Back yard, front yard and side yard; Fully fenced yard

Interior

• Kitchen: Refrigerator; Stove/Oven/Range
• Bedrooms: 4 bedrooms on level 1; 5 bedrooms on level 2
• Flooring: Carpeting; Hardwood floors; Laminate floors
• Bathrooms: 4 full bathrooms (2 on level 1, 2 on level 2)
• Heating & cooling: Gas heating with steam/radiator delivery; No central AC units reported
• Interior features: Patio garden; Finished basement with separate entrance and walk-in access; Refrigerator; Stove
• Laundry & utility: Water included for some units

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 2×3bd/1.0ba units multifamily listed at $1.55M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive. Per door: $54/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 $1.39M (10.2% below list).
• Recommended offer: $1.39M (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 fast (+6.1%/yr); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,918/mo this rent would consume 269% of the median local household income ($62k/yr) (locally 7574% 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 $11k of loan paydown is wiped out by about $46k 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 48 days — a 3% lower offer ($1.50M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,391,800 (10.2% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 10% 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. Built in 1925 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.90% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1145 Sutter Ave	0.08mi	8/2.0	3,800	3mo	$1,300,000	$342	74
430 Pine St	0.36mi	8/—	—	3mo	$898,000	—	68
894 New Lots Ave	0.24mi	8/4.0	2,600	10mo	$744,000	$286	68
369 Milford St	0.09mi	8/1.0	3,198	5mo	$1,200,000	$375	67
448 Ashford St #3	0.45mi	8/5.0	2,970	3mo	$1,250,000	$421	60
762 Belmont Ave	0.30mi	7/3.0 (-1)	2,520	7mo	$1,140,000	$452	58
390 Essex St	0.39mi	8/5.0	2,812	8mo	$1,140,000	$405	58
747 Essex St	0.42mi	7/5.0 (-1)	3,600	3mo	$1,250,000	$347	57
623 Ashford St	0.49mi	7/3.0 (-1)	1,786	1mo	$1,120,000	$627	55
387 Jerome St	0.54mi	9/5.0 (+1)	2,934	1mo	$1,175,000	$400	52
590 Liberty Ave	0.69mi	8/3.0	3,240	7mo	$1,050,000	$324	45
654 Schenck Ave	0.73mi	7/3.0 (-1)	3,250	7mo	$1,100,000	$338	38

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-191,738
• Equity at exit: $231,110

10-year hold

• IRR: 1.4%
• Equity multiple: 1.12×
• Total profit: $50,377
• Equity at exit: $134,016

Cash invested: $434,000 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 39.5×

Monthly cashflow live

• Estimated rent: $13,918 high
• Mortgage (P&I): −$8,128
• Tax est. 1.5%: −$1,938 /mo · $23,250/yr
• Insurance: −$646
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,923
• Net cashflow: $217

Break-even live

Break-even rent $13,643

Max offer price $1,550,000

Occupancy floor 93%

Sensitivity live

Price	-10% $1,288	-5% $753	+0% $217	+5% $-319	+10% $-854
Rent	-10% $-882	-5% $-333	+0% $217	+5% $767	+10% $1,317
Rate	-1.0pp $998	-0.5pp $611	base $217	+0.5pp $-185	+1.0pp $-593

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,546
▸ 2× units	3	1	$7,372
Total (4 units)			$13,918

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: $387,500
• Closing costs: $46,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $1,550,000 Active 48 DOM
2. 2026-06-18
   days on market $1,550,000 Active 45 DOM
3. 2026-06-17
   days on market $1,550,000 Active 44 DOM
4. 2026-06-16
   days on market $1,550,000 Active 43 DOM
5. 2026-06-15
   days on market $1,550,000 Active 42 DOM
6. 2026-06-13
   days on market $1,550,000 Active 40 DOM
7. 2026-06-10
   days on market $1,550,000 Active 36 DOM
8. 2026-06-08
   days on market $1,550,000 Active 35 DOM
9. 2026-06-08
   days on market $1,550,000 Active 34 DOM
10. 2026-06-04
    days on market $1,550,000 Active 31 DOM
11. 2026-06-03
    days on market $1,550,000 Active 30 DOM
12. 2026-06-01
    days on market $1,550,000 Active 28 DOM
13. 2026-05-31
    days on market $1,550,000 Active 27 DOM
14. 2026-05-04
    status Active 1138-char remark

    Show marketing remark (1138 chars)

    2 Units are vacant: 1 2-bedroom & 1 3-bedroom Brooklyn Milford Street Solid BRICK semi attached legal 4 family with 2 three bedroom & 2 Two-bedroom apartment with huge living room & open plan modern kitchen! All new plumbing, gas line & electric in entire building! New gas boiler with 75-gallon hot water tank & new rubberize roof! 3,184 sq ft living space Building size 26 wide & 72 deep! FEATURES High ceiling & Full basement high ceiling with ceramic tile, lots of windows & 2 entrances! On 36 x 100 lot with private drive R5 zoning. 1,332 unused FAR! Low taxes- All market value tenant with high CAP rate! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! Asking price $1.55ML; Income $139,800-year; Expense-$15,282 NOI-$124,518.00; CAP-8.03% 3 2-bedroom & 1 2-Bedroom! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! FHA Approved!!! Buy with only 3.5% down (Qualify Buyers) Owner VERY motivated!! ALL FREE market rent!! No Restriction!! GREAT CONDITION! MINT!

15. 2026-05-04
    listed $1,550,000 Active

    Show marketing remark (1138 chars)

    2 Units are vacant: 1 2-bedroom & 1 3-bedroom Brooklyn Milford Street Solid BRICK semi attached legal 4 family with 2 three bedroom & 2 Two-bedroom apartment with huge living room & open plan modern kitchen! All new plumbing, gas line & electric in entire building! New gas boiler with 75-gallon hot water tank & new rubberize roof! 3,184 sq ft living space Building size 26 wide & 72 deep! FEATURES High ceiling & Full basement high ceiling with ceramic tile, lots of windows & 2 entrances! On 36 x 100 lot with private drive R5 zoning. 1,332 unused FAR! Low taxes- All market value tenant with high CAP rate! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! Asking price $1.55ML; Income $139,800-year; Expense-$15,282 NOI-$124,518.00; CAP-8.03% 3 2-bedroom & 1 2-Bedroom! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! FHA Approved!!! Buy with only 3.5% down (Qualify Buyers) Owner VERY motivated!! ALL FREE market rent!! No Restriction!! GREAT CONDITION! MINT!

16. 2026-04-27
    historical 1138-char remark

    Show marketing remark (1138 chars)

    2 Units are vacant: 1 2-bedroom & 1 3-bedroom Brooklyn Milford Street Solid BRICK semi attached legal 4 family with 2 three bedroom & 2 Two-bedroom apartment with huge living room & open plan modern kitchen! All new plumbing, gas line & electric in entire building! New gas boiler with 75-gallon hot water tank & new rubberize roof! 3,184 sq ft living space Building size 26 wide & 72 deep! FEATURES High ceiling & Full basement high ceiling with ceramic tile, lots of windows & 2 entrances! On 36 x 100 lot with private drive R5 zoning. 1,332 unused FAR! Low taxes- All market value tenant with high CAP rate! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! Asking price $1.55ML; Income $139,800-year; Expense-$15,282 NOI-$124,518.00; CAP-8.03% 3 2-bedroom & 1 2-Bedroom! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! FHA Approved!!! Buy with only 3.5% down (Qualify Buyers) Owner VERY motivated!! ALL FREE market rent!! No Restriction!! GREAT CONDITION! MINT!

17. 2026-01-26
    listed $1,550,000 Active 1138-char remark

    Show marketing remark (1138 chars)

    2 Units are vacant: 1 2-bedroom & 1 3-bedroom Brooklyn Milford Street Solid BRICK semi attached legal 4 family with 2 three bedroom & 2 Two-bedroom apartment with huge living room & open plan modern kitchen! All new plumbing, gas line & electric in entire building! New gas boiler with 75-gallon hot water tank & new rubberize roof! 3,184 sq ft living space Building size 26 wide & 72 deep! FEATURES High ceiling & Full basement high ceiling with ceramic tile, lots of windows & 2 entrances! On 36 x 100 lot with private drive R5 zoning. 1,332 unused FAR! Low taxes- All market value tenant with high CAP rate! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! Asking price $1.55ML; Income $139,800-year; Expense-$15,282 NOI-$124,518.00; CAP-8.03% 3 2-bedroom & 1 2-Bedroom! Near A & C train & all buses, shopping plus more! Nothing to do but close & collect rent! FHA Approved!!! Buy with only 3.5% down (Qualify Buyers) Owner VERY motivated!! ALL FREE market rent!! No Restriction!! GREAT CONDITION! MINT!

18. 2025-09-21
    price $1,550,000
19. 2024-01-09
    price $1,400,000
20. 2023-12-10
    price $1,500,000
21. 2023-11-07
    price $1,450,000
22. 2023-03-31
    price $1,350,000
23. 2021-01-12
    price $1,299,000
24. 2021-01-11
    price $1,299,000
25. 2020-09-17
    listed $1,299,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 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: $167,016
• − Mortgage interest: −$86,824
• − Property taxes: −$23,250
• − Insurance: −$8,548
• − Repairs & maintenance: −$13,361
• − Management: −$13,361
• − Depreciation: −$45,091
• Taxable loss: −$23,419
• Est. tax savings @ 24.0%: +$5,621
• After-tax cash flow: $8,225/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 · 12 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to bring it up to a livable condition. Immediate focus should be on exterior siding, flooring, and painting to improve curb appeal and rental value.

Repairs flagged

• Major Exterior siding — Worn and dirty
• Major Flooring — Worn and dirty
• Major Paint — Chipped and worn
• Major Windows — Old and possibly need replacement
• Major HVAC/mechanicals — No photos to assess

Value-add opportunities

• Both Painting and repainting — Improves curb appeal and interior aesthetics
• Both New flooring — Enhances living space and increases rental value
• Both New windows — Improves energy efficiency and enhances curb appeal
• Both HVAC upgrade — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Worn and dirty	Major	$15,000–50,000
Flooring · Worn and dirty	Major	$15,000–50,000
Paint · Chipped and worn	Major	$15,000–50,000
Windows · Old and possibly need replacement	Major	$15,000–50,000
HVAC/mechanicals · No photos to assess	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Painting and repainting — Improves curb appeal and interior aesthetics ↑
• Both New flooring — Enhances living space and increases rental value ↑
• Both New windows — Improves energy efficiency and enhances curb appeal ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑

ⓘ 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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+19.3% since first listed

12 events — show timeline

• 2026-05-04 Relisted — RLS at REBNY
• 2026-05-04 Listed $1,550,000 BNYMLS
• 2026-04-27 Delisted — RLS at REBNY
• 2026-01-26 Listed $1,550,000 RLS at REBNY
• 2025-09-21 Price Changed $1,550,000 BNYMLS
• 2024-01-09 Price Changed $1,400,000 BNYMLS
• 2023-12-10 Price Changed $1,500,000 BNYMLS
• 2023-11-07 Price Changed $1,450,000 BNYMLS
• 2023-03-31 Price Changed $1,350,000 BNYMLS
• 2021-01-12 Price Changed $1,299,000 RLS at REBNY
• 2021-01-11 Price Changed $1,299,000 BNYMLS
• 2020-09-17 Listed $1,299,000 RLS at REBNY