980 Jerome St · New York, NY 11207

$850,000

4 bd · 5.0 ba · 1,881 sqft · MultiFamily public records · 240 Days on market

Built 1960 1,967 sqft lot Est $903k · 6% under

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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 +10.6/30.0
• ARV discount +10.1/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• 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

Two-Family Duplex in Prime East New York Location – Great Investment Opportunity! Located just minutes from Gateway Mall, this spacious two-family brick duplex offers convenience, functionality, and strong rental potential in one of Brooklyn’s rapidly developing neighborhoods. Enjoy easy access to the Belt Parkway, Shirley Chisholm State Park, and the Brooklyn Sports Club—all within close proximity. The layout includes: First Floor: A 1-bedroom apartment with private entry—perfect for rental income or extended family. Upper Duplex Unit: Spread across the second and third floors, featuring a spacious living room, dining area, kitchen, and a half bath on the main lev

Key facts

• Two family duplex
• 1,967 sq ft lot
• Built 1960

Tags

• TWO FAMILY DUPLEX
• PRIME EAST NEW YORK LOCATION
• STRONG RENTAL POTENTIAL
• EASY ACCESS TO BELT PARKWAY
• DIRECT ACCESS TO BACKYARD
• FULLY FINISHED BASEMENT

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Utilities: See remarks
• Home design: Townhouse; Duplex
• Construction: Brick construction; Block and brick/mortar foundation; Built area approximately 1,881 sq ft
• Exterior features: Not waterfront

Interior

• Bedrooms: At least one 3-bedroom unit
• Flooring: Hardwood floors
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Finished full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-423 ($-5k/yr) — negative. Per door: $-212/mo.
• To cash-flow at today's rent, offer at most $775k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $630k (25.9% below list).
• Recommended offer: $630k (25.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 (+5.3%/yr); 251 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,301/mo this rent would consume 134% of the median local household income ($57k/yr) (locally 7510% 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 $26k 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 240 days — a 12% lower offer ($748k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $200k; list at $850k implies a 325% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 68% 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 $630,100 (25.9% 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 240 days. Have you received any prior offers? Is the seller open to a 26% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.74% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.13%
• DSCR: 0.91
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $902,880
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
780 Hendrix St	0.55mi	5/3.0 (+1)	1,848 (-2%)	2mo	$889,000	$481	57
733 Warwick St	0.62mi	5/2.0 (+1)	2,000 (+6%)	9mo	$720,000	$360	36
473 Berriman St	0.72mi	4/2.0	1,720 (-9%)	9mo	$825,000	$480	32

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.37×
• Total profit: $-150,037
• Equity at exit: $126,738

10-year hold

• IRR: -6.1%
• Equity multiple: 0.57×
• Total profit: $-102,291
• Equity at exit: $73,492

Cash invested: $238,000 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 22.5×

Monthly cashflow live

• Estimated rent: $6,301 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$589 /mo · $7,072/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,323
• Net cashflow: $-423

Break-even live

Break-even rent $6,837

Max offer price $775,239

Occupancy floor —

Sensitivity live

Price	-10% $58	-5% $-183	+0% $-423	+5% $-664	+10% $-904
Rent	-10% $-921	-5% $-672	+0% $-423	+5% $-174	+10% $75
Rate	-1.0pp $5	-0.5pp $-207	base $-423	+0.5pp $-643	+1.0pp $-868

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2.5	$6,302
Total (2 units)			$6,301

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156-49 76th St Unit 2 Jamaica, NY	3.0	2.0	1250	$3,300	$2.64	17d	1	1.21mi

Listing history 14 events

1. 2026-06-18
   days on market $850,000 Active 240 DOM
2. 2026-06-17
   days on market $850,000 Active 239 DOM
3. 2026-06-15
   days on market $850,000 Active 237 DOM
4. 2026-06-13
   days on market $850,000 Active 235 DOM
5. 2026-06-10
   days on market $850,000 Active 231 DOM
6. 2026-06-08
   days on market $850,000 Active 230 DOM
7. 2026-06-04
   days on market $850,000 Active 226 DOM
8. 2026-06-03
   days on market $850,000 Active 225 DOM
9. 2026-06-01
   days on market $850,000 Active 223 DOM
10. 2026-05-31
    days on market $850,000 Active 222 DOM
11. 2026-04-07
    status Active
12. 2026-04-01
    historical
13. 2025-10-15
    listed $850,000 Active
14. 1990-12-26
    soldstatus $200,000

ⓘ 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: $7,072 · $589/mo
• Projected year-2 tax: $10,719 · $893/mo
• Expected delta: +$3,646/yr (+$304/mo · 51.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 68% 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: $75,612
• − Mortgage interest: −$47,613
• − Property taxes: −$7,072
• − Insurance: −$4,250
• − Repairs & maintenance: −$6,049
• − Management: −$6,049
• − Depreciation: −$24,727
• Taxable loss: −$20,148
• Est. tax savings @ 24.0%: +$4,836
• After-tax cash flow: $-243/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+325.0% since first listed

4 events — show timeline

• 2026-04-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-15 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 1990-12-26 Sold (Public Records) $200,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $7,072 · +1.1% YoY. Source: county tax records.