3832 Laurel Ave · New York, NY 11224

$999,000

9 bd · 3.9 ba · 4,744 sqft · MultiFamily public records · 41 Days on market

Built 1910 6,000 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Prime Development Opportunity in Gated Seagate. Build a Luxury 3-Family with Exceptional Income Potential. Welcome to 3832 Laurel Ave, a rare and powerful opportunity to create a brand-new luxury multi-family residence in the exclusive, private gated community of Seagate. This property is delivered with approved plans and blueprints, the images generated are the potential layouts and construction ideas for this property aligned to the property's spacious potential and in accordance to lot size. This allows the next owner to begin construction immediately, eliminating delays in creating a high-value asset. This 60x100 lot is perfectly positioned for a stunning 3-family development with a pri

Key facts

• Private beach
• Community bathhouse
• 6,000 sq ft lot

Tags

• PRIVATE ENTRY BASEMENT
• PRIVATE BEACH
• COMMUNITY BATHHOUSE

Property features AI

Finance

• Financial info: Financing considered: exchange, bank mortgage, or cash

Exterior

• Parking: Private drive with 6+ parking spaces
• Utilities: 220V electric; Gas hot water
• Home design: Detached residential building; 3-unit multifamily; Building footprint approximately 50 x 40 ft
• Construction: Built with block, brick and wood frame; Brick face exterior; Asphalt/tar and shingle roofing; Poured concrete and slab foundations
• Exterior features: Front, side and back yards; Zoned R3-1

Interior

• Bedrooms: Unit 1: 3 bedrooms (2nd floor); Unit 2: 1 bedroom (3rd floor); Unit 3: 5 bedrooms (1st floor)
• Flooring: Hardwood floors
• Bathrooms: 4 full bathrooms total; Unit 1: 1 full bath; Unit 2: 1 full bath; Unit 3: 2 full baths
• Heating & cooling: Electric heating; Ductless/split heat delivery; 220V electric service
• Interior features: Central A/C unit; Hardwood floors; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $999k).
• Recommended offer: $969k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 fast (+7.0%/yr); 114 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 $13,703/mo this rent would consume 377% of the median local household income ($44k/yr) (locally 4426% 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 $57k of equity ($7k loan paydown + $50k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$91k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $694k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $969,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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 1910 — 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. 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: 1.37% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.47%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 2.94×
• Total profit: $542,276
• Equity at exit: $565,028

10-year hold

• IRR: 30.9%
• Equity multiple: 6.55×
• Total profit: $1,553,142
• Equity at exit: $974,260

Cash invested: $279,720 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $13,703 medium
• Mortgage (P&I): −$5,239
• Tax from tax record: −$1,099 /mo · $13,186/yr
• Insurance: −$416
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,878
• Net cashflow: $4,005

Break-even live

Break-even rent $8,633

Max offer price $999,000

Occupancy floor 66%

Sensitivity live

Price	-10% $4,570	-5% $4,288	+0% $4,005	+5% $3,722	+10% $3,439
Rent	-10% $2,922	-5% $3,464	+0% $4,005	+5% $4,546	+10% $5,088
Rate	-1.0pp $4,508	-0.5pp $4,259	base $4,005	+0.5pp $3,746	+1.0pp $3,483

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$13,704
Total (3 units)			$13,703

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-01
   days on market $999,000 Active 41 DOM
2. 2026-05-31
   days on market $999,000 Active 40 DOM
3. 2026-04-21
   listed $999,000 Active
4. 2012-05-17
   soldstatus $694,000
5. 2004-04-29
   soldstatus $531,420

ⓘ 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: $13,186 · $1,099/mo
• Projected year-2 tax: $15,035 · $1,253/mo
• Expected delta: +$1,849/yr (+$154/mo · 14.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $164,436
• − Mortgage interest: −$55,960
• − Property taxes: −$13,186
• − Insurance: −$5,792
• − Repairs & maintenance: −$13,155
• − Management: −$13,155
• − Depreciation: −$29,062
• Taxable income: $34,126
• Est. tax owed @ 24.0%: −$8,190
• After-tax cash flow: $39,869/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+88.0% since first listed

3 events — show timeline

• 2026-04-21 Listed $999,000 BNYMLS
• 2012-05-17 Sold (Public Records) $694,000 Public Records
• 2004-04-29 Sold (Public Records) $531,420 Public Records

Property tax history

+5.5%/yr

Latest (2025): $13,186 · +88.0% YoY. Source: county tax records.