504 Thatford Ave · New York, NY 11212

$605,982

4 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 157 Days on market

Built 1905 2,252 sqft lot Est $750k · 19% under

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Why this score? — see what drove the B- 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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

Occupied semi-attached 2 family brick property being sold as is. Level 1: Living/dining combination, two bedrooms, kitchen and full bath. Level 2: Living room, dining room, three bedrooms, kitchen and full bath. The first floor has access to rear yard. The basement is finished, street parking, close to schools, all transportation, shopping and restaurants. ABSOLUTLY NO TRESPASSING! PLEASE DO NOT DISTURB ANY OCCUPANTS! It is a criminal offense to trespass on this property. Please contact the listing agent for occupancy status. HOUSE WILL NOT BE DELIVERED VACANT. Buyer pays NYC & NYS transfer tax fees. Chase Employees: Please see the Chase Acknowledgement for restrictions. “Chase

Key facts

• Close to schools
• Close to restaurants
• Finished basement

Tags

• FINISHED BASEMENT
• STREET PARKING
• CLOSE TO SCHOOLS
• CLOSE TO TRANSPORTATION
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Finance

• Financial info: Cash financing indicated

Exterior

• Parking: Street parking
• Utilities: 220V electric service; Gas hot water; Gas heating (hot water delivery)
• Home design: Semi-detached residential building; Flat roof; Building footprint approx. 1,000 sq ft; Building dimensions 50.00 x 20.00; Zoning: R6
• Construction: Brick construction; Poured concrete foundation; Built with brick exterior
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the first level; Three bedrooms on the second level
• Flooring: Other floors (see remarks)
• Bathrooms: One full bath on the first level; One full bath on the second level; Two full baths total
• Heating & cooling: Hot water heat (gas); No AC units reported
• Interior features: Finished full basement; Refrigerator; Stove; Other floors (see remarks); No central air units

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $606k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $695/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $606k).
• Recommended offer: $533k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 soft (-0.6%/yr); 66 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,337/mo this rent would consume 184% of the median local household income ($41k/yr) (locally 9035% 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.
• 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 157 days — a 12% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $225k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1905 — 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 $533,264 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.05% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.30%
• DSCR: 1.46
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $750,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
468 Herzl St	0.32mi	5/2.0 (+1)	2,080 (+4%)	8mo	$500,000	$240	67
772 Thomas S Boyland St	0.38mi	5/2.0 (+1)	2,240 (+12%)	1mo	$865,000	$386	57
9508 Avenue B	0.48mi	5/3.0 (+1)	2,250 (+12%)	8mo	$985,000	$438	41
28 Malta St	0.59mi	4/2.0	1,800 (-10%)	17mo	$431,000	$239	41
926 Rockaway Pkwy	0.68mi	4/3.5	2,244 (+12%)	6mo	$700,000	$312	37
605 E 91 St	0.67mi	4/3.0	2,263 (+13%)	20mo	$849,000	$375	26

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-28,486
• Equity at exit: $90,354

10-year hold

• IRR: 1.6%
• Equity multiple: 1.10×
• Total profit: $16,391
• Equity at exit: $52,394

Cash invested: $169,675 (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 11212

• Home prices YoY: -34.3%
• Rents YoY: -0.6%
• Active inventory: 66
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $6,337 medium
• Mortgage (P&I): −$3,178
• Tax from tax record: −$119 /mo · $1,432/yr
• Insurance: −$252
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,331
• Net cashflow: $1,390

Break-even live

Break-even rent $4,577

Max offer price $605,982

Occupancy floor 73%

Sensitivity live

Price	-10% $1,733	-5% $1,562	+0% $1,390	+5% $1,219	+10% $1,047
Rent	-10% $889	-5% $1,140	+0% $1,390	+5% $1,640	+10% $1,891
Rate	-1.0pp $1,695	-0.5pp $1,544	base $1,390	+0.5pp $1,233	+1.0pp $1,073

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,924
1× unit	3	1	$3,413
Total (2 units)			$6,337

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: $151,496
• Closing costs: $18,179
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-06
   status Pending
2. 2026-04-27
   status Active
3. 2026-03-20
   historical
4. 2026-02-11
   price $605,982
5. 2025-12-22
   price $673,313
6. 2025-11-18
   price $748,125
7. 2025-10-23
   listed $831,250 Active
8. 2022-01-20
   status Pending
9. 2021-06-14
   price $699,000
10. 2021-06-14
    status Active
11. 2021-02-10
    status Pending
12. 2020-11-16
    price $399,000
13. 2020-09-25
    historical
14. 2020-07-11
    price $599,000
15. 2020-06-17
    price $850,000
16. 2020-06-02
    price $920,000
17. 2020-05-19
    price $950,000
18. 2020-05-18
    listed $9,500,000 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: $1,432 · $119/mo
• Projected year-2 tax: $5,837 · $486/mo
• Expected delta: +$4,405/yr (+$367/mo · 307.6%)

ⓘ 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) · 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: $76,044
• − Mortgage interest: −$33,944
• − Property taxes: −$1,432
• − Insurance: −$3,827
• − Repairs & maintenance: −$6,084
• − Management: −$6,084
• − Depreciation: −$17,629
• Taxable income: $7,044
• Est. tax owed @ 24.0%: −$1,691
• After-tax cash flow: $14,991/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): 89,020
• Household income: $41,355
• Rent vs Own: 86.8% rent · 13.2% own
• Severe rent burden: 9035.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 20% Two or more races 12% White 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 3% Ukrainian 1%
• Foreign-born: 34% · Canada, Mexico, China
• Languages at home: 77% English-only · Spanish 14% French/Haitian/Cajun 4% Arabic 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: ▼ -140.90%
• Current HPI: 269.7955
• Rent YoY: ▼ -0.59%
• 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

-93.6% since first listed

18 events — show timeline

• 2026-05-06 Pending — BNYMLS
• 2026-04-27 Relisted — BNYMLS
• 2026-03-20 Delisted — BNYMLS
• 2026-02-11 Price Changed $605,982 BNYMLS
• 2025-12-22 Price Changed $673,313 BNYMLS
• 2025-11-18 Price Changed $748,125 BNYMLS
• 2025-10-23 Listed $831,250 BNYMLS
• 2022-01-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-06-14 Price Changed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2021-06-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-02-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-11-16 Price Changed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2020-09-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-07-11 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-17 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-02 Price Changed $920,000 OneKey® MLS as Distributed by MLS Grid
• 2020-05-19 Price Changed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2020-05-18 Listed $9,500,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $1,432 · -0.9% YoY. Source: county tax records.