49 Hull St · New York, NY 11233

$1,188,000

4 bd · 2.0 ba · 2,548 sqft · MultiFamily public records · 255 Days on market

Built 2000 1,975 sqft lot Est $1274k · 7% 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).

• ARV discount +10.5/15.0
• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.6/10.0

Multi-family units

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

Listing remarks

Welcome to 49 Hull Street, a young brick two-family residence built in 2000, nestled in the vibrant and rapidly growing Ocean Hill neighborhood of Brooklyn (11233). This spacious three-story home combines modern construction with a versatile layout, perfect for comfortable multi-generational living or investment potential. The first floor features a bright kitchen, a welcoming living room, two bedrooms, and a full bathroom, offering a cozy and functional space for daily living. The second floor includes a convenient laundry room, one full bathroom, and three generously sized bedrooms, ideal for family or guests. The third floor provides exceptional flexibility with a walk-in closet, two liv

Key facts

• Bright kitchen
• Walk-in closet
• Private parking

Tags

• BRIGHT KITCHEN
• WELCOMING LIVING ROOM
• CONVENIENT LAUNDRY ROOM
• WALK-IN CLOSET
• PRIVATE PARKING
• WELL-MAINTAINED EXTERIOR

Property features AI

Exterior

• Parking: Private driveway
• Utilities: Public sewer; Utilities: see remarks
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $1.19M.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $811k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $669k (43.7% below list).
• Recommended offer: $669k (43.7% below list) — sets the bar for 1% rule.
• Cap rate 4.1% 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 (+6.4%/yr); 152 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,688/mo this rent would consume 129% of the median local household income ($62k/yr) (locally 6960% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $127k of equity ($8k loan paydown + $119k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$204k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($1.05M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 39% 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 $668,800 (43.7% 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 255 days. Have you received any prior offers? Is the seller open to a 44% 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. 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. 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?
10. 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.
11. 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.
12. 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: 0.56% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.69%
• DSCR: 0.66
• GRM: 14.8

CMA / ARV

• ARV (on-the-fly): $1,274,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1830 Sterling Pl	0.60mi	4/—	2,491 (-2%)	1mo	$1,050,000	$422	67
699 Decatur St	0.31mi	5/3.0 (+1)	2,700 (+6%)	12mo	$1,350,000	$500	56
657 Evergreen	0.65mi	5/3.0 (+1)	2,850 (+12%)	14mo	$975,000	$342	30
680 Halsey St	0.67mi	5/3.0 (+1)	2,185 (-14%)	18mo	$1,395,000	$638	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.61×
• Total profit: $534,812
• Equity at exit: $1,070,245

10-year hold

• IRR: 18.6%
• Equity multiple: 6.22×
• Total profit: $1,736,735
• Equity at exit: $2,308,023

Cash invested: $332,640 (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 11233

• Home prices YoY: 2.9%
• Rents YoY: 6.4%
• Active inventory: 152
• Price-to-rent: 29.6×

Monthly cashflow live

• Estimated rent: $6,688 high
• Mortgage (P&I): −$6,230
• Tax from tax record: −$690 /mo · $8,281/yr
• Insurance: −$495
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,404
• Net cashflow: $-2,132

Break-even live

Break-even rent $9,386

Max offer price $811,444

Occupancy floor —

Sensitivity live

Price	-10% $-1,459	-5% $-1,795	+0% $-2,132	+5% $-2,468	+10% $-2,804
Rent	-10% $-2,660	-5% $-2,396	+0% $-2,132	+5% $-1,867	+10% $-1,603
Rate	-1.0pp $-1,533	-0.5pp $-1,829	base $-2,132	+0.5pp $-2,439	+1.0pp $-2,753

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,688
Total (2 units)			$6,688

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: $297,000
• Closing costs: $35,640
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $1,188,000 Active 255 DOM
2. 2026-06-18
   days on market $1,188,000 Active 252 DOM
3. 2026-06-17
   days on market $1,188,000 Active 251 DOM
4. 2026-06-15
   days on market $1,188,000 Active 249 DOM
5. 2026-06-13
   days on market $1,188,000 Active 247 DOM
6. 2026-06-10
   days on market $1,188,000 Active 243 DOM
7. 2026-06-08
   days on market $1,188,000 Active 242 DOM
8. 2026-06-03
   days on market $1,188,000 Active 237 DOM
9. 2026-06-01
   days on market $1,188,000 Active 235 DOM
10. 2026-05-31
    days on market $1,188,000 Active 234 DOM
11. 2025-10-09
    listed $1,188,000 Active

ⓘ 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: $8,281 · $690/mo
• Projected year-2 tax: $14,179 · $1,182/mo
• Expected delta: +$5,898/yr (+$491/mo · 71.2%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% 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: $80,256
• − Mortgage interest: −$66,546
• − Property taxes: −$8,281
• − Insurance: −$5,940
• − Repairs & maintenance: −$6,420
• − Management: −$6,420
• − Depreciation: −$34,560
• Taxable loss: −$47,913
• Est. tax savings @ 24.0%: +$11,499
• After-tax cash flow: $-14,080/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): 81,822
• Household income: $62,411
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 6960.0

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 (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 16% White 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 3% 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: ▲ 18.31%
• Current HPI: 645.4828
• Rent YoY: ▲ 6.44%
• 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

1 event — show timeline

• 2025-10-09 Listed $1,188,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+14.9%/yr

Latest (2025): $8,281 · -2.4% YoY. Source: county tax records.