20 Tessa Ct · New York, NY 10304

$598,800

4 bd · 5.6 ba · 2,280 sqft · MultiFamily public records · 213 Days on market

Built 2004 2,065 sqft lot Est $791k · 24% under $80/mo HOA · 3% of rent

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Why this score? — see what drove the C+ 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• 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: 2 units. confirmed

Listing remarks

House being sold 'as is'. Current monthly rent: 3,460. Both tenants have no lease(expired). Young 2 Family townhouse. Great investment property. Main unit 4 Bedrooms. Second unit Studio apartment. Level 1: Living Room, 1/2 bath, large eat in kitchen. Sliders to yard. Level 2: Primary bedroom w/ 3/4 private bath. 2nd bedroom, 3rd bedroom. Full bath. Level 3: 4th bedroom. Basement: Above the ground studio apartment. Roof was redone last year. Very convenient area, close to Ferry and Bridge. Steady Income. House being sold 'as is'. Current monthly rent: 3,460

Key facts

• Sliders to yard
• Private bath
• Eat in kitchen

Tags

• EAT IN KITCHEN
• SLIDERS TO YARD
• PRIVATE BATH

Property features AI

Finance

• Other: Property condition described as excellent
• Financial info: Multifamily with 2 total units; Unit 1 current rent listed as $2,300/month; No additional income or expense details provided
• HOA & community: Has association with $80 fee; Association covers snow removal and outside maintenance

Exterior

• Parking: Attached garage (1 space); Carport; Off-street parking
• Security: No security details provided
• Utilities: 110-volt electric service
• Home design: 3-story multifamily building; Total building area approximately 2,280; Approximate year built
• Construction: Brick, stucco, and vinyl siding exterior
• Exterior features: Lot dimensions approximately 14 x 148; Lot is approximately 0.05 acres; Zoned R-3A

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Unit 1: 4 bedrooms; Unit 2: (bedroom count not provided)
• Flooring: No flooring details provided
• Bathrooms: Total of 5 bathrooms (2 full, 2 three-quarter, 1 half); Unit 1: 3 baths; Unit 2: (bath count not provided)
• Heating & cooling: Natural gas heating with forced air; Has heating; Has cooling
• Interior features: Central air conditioning; Excellent condition
• Laundry & utility: No laundry details provided

🏷️ Possibly a rental listed for sale. The $598,800 price doesn't fit this home's estimated sale value (~$791,160) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.8-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive. Per door: $469/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $599k).
• Recommended offer: $527k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+2.0%/yr); 204 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $6,161/mo this rent would consume 103% of the median local household income ($72k/yr) (locally 2401% 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $39k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $500k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $526,944 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.03% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $791,160
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 Van Duzer St	0.09mi	4/2.5	2,150 (-6%)	4mo	$938,000	$436	70
21 Maxie Ct	0.06mi	3/2.5 (-1)	2,352 (+3%)	12mo	$648,000	$276	64
810 Van Duzer St	0.10mi	5/1.5 (+1)	2,150 (-6%)	4mo	$830,000	$386	62
17 Maxie Ct	0.06mi	4/1.5	2,010 (-12%)	5mo	$635,000	$316	57
57 Broad St	0.55mi	4/5.0	2,480 (+9%)	2mo	$430,000	$173	56
58 Vanderbilt Ave	0.63mi	5/2.5 (+1)	2,272 (-0%)	10mo	$780,000	$343	44
243 Tompkins Ave	0.55mi	3/3.5 (-1)	2,006 (-12%)	2mo	$660,000	$329	40
241 Tompkins Ave	0.55mi	4/2.5	2,016 (-12%)	6mo	$700,000	$347	38
330 Van Duzer St	0.73mi	5/4.5 (+1)	2,012 (-12%)	1mo	$740,000	$368	36
76 Highland Ave	0.66mi	3/1.0 (-1)	1,976 (-13%)	7mo	$810,000	$410	21

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 · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-43,492
• Equity at exit: $89,283

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $14,027
• Equity at exit: $51,773

Cash invested: $167,664 (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 10304

• Rents YoY: 2.0%
• Active inventory: 204
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $6,161 high
• Mortgage (P&I): −$3,140
• Tax from tax record: −$459 /mo · $5,508/yr
• Insurance: −$250
• HOA: −$80
• Vacancy / Maint / Mgmt: −$1,294
• Net cashflow: $939

Break-even live

Break-even rent $4,973

Max offer price $598,800

Occupancy floor 80%

Sensitivity live

Price	-10% $1,277	-5% $1,108	+0% $939	+5% $769	+10% $600
Rent	-10% $452	-5% $695	+0% $939	+5% $1,182	+10% $1,425
Rate	-1.0pp $1,240	-0.5pp $1,091	base $939	+0.5pp $783	+1.0pp $625

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2.8	$6,162
Total (2 units)			$6,161

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: $149,700
• Closing costs: $17,964
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Cunard Ave Staten Island, NY	3.0	2.0	1700	$3,650	$2.15	25d	1	0.47mi
37 Ely St Staten Island, NY	4.0	2.0	2600	$3,999	$1.54	7d	1	1.09mi
64 Claradon Ln Staten Island, NY	3.0	2.5	1976	$3,500	$1.77	8d	1	1.45mi

HOA detail

• Monthly dues: $80 · $960/yr

Listing history 16 events

1. 2026-06-13
   statusdays on market $598,800 Pending 213 DOM
2. 2026-06-10
   days on market $598,800 Active 212 DOM
3. 2026-06-08
   days on market $598,800 Active 211 DOM
4. 2026-06-04
   days on market $598,800 Active 207 DOM
5. 2026-06-03
   days on market $598,800 Active 206 DOM
6. 2026-06-01
   days on market $598,800 Active 204 DOM
7. 2026-05-31
   days on market $598,800 Active 203 DOM
8. 2026-04-15
   price $598,800
9. 2025-12-17
   status Active
10. 2025-12-01
    historical
11. 2025-10-27
    historical Contingent
12. 2025-10-24
    listed $638,000 Active
13. 2022-05-13
    soldstatus $500,000
14. 2018-04-30
    soldstatus $52,000
15. 2014-12-09
    historical
16. 2009-09-16
    listed $439,000

ⓘ 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: $5,508 · $459/mo
• Projected year-2 tax: $7,814 · $651/mo
• Expected delta: +$2,306/yr (+$192/mo · 41.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,932
• − Mortgage interest: −$33,542
• − Property taxes: −$5,508
• − Insurance: −$2,994
• − Repairs & maintenance: −$5,915
• − Management: −$5,915
• − HOA: −$960
• − Depreciation: −$17,420
• Taxable income: $1,679
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $10,859/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): 45,658
• Household income: $71,561
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2401.0

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 0.73)
• Race & ethnicity: White 36% Black 25% Hispanic / Latino 24% Asian 13% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Scotch-Irish 3% Romanian 2% Swiss 2%
• Foreign-born: 32% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 16% Chinese 8% Other Indo-European 5%

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: ▼ -254.93%
• Current HPI: 346.7976
• Rent YoY: ▲ 1.99%
• 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

+36.4% since first listed

9 events — show timeline

• 2026-04-15 Price Changed $598,800 SIBORMLS
• 2025-12-17 Relisted — SIBORMLS
• 2025-12-01 Listing Removed — SIBORMLS
• 2025-10-27 Contingent — SIBORMLS
• 2025-10-24 Listed $638,000 SIBORMLS
• 2022-05-13 Sold (Public Records) $500,000 Public Records
• 2018-04-30 Sold (Public Records) $52,000 Public Records
• 2014-12-09 Listing Removed — SIBORMLS
• 2009-09-16 Listed $439,000 SIBORMLS

Property tax history

+2.5%/yr

Latest (2025): $5,508 · +6.0% YoY. Source: county tax records.