273 62nd St · New York, NY 11220

$1,100,000

48 bd · 36.0 ba · 4,380 sqft · MultiFamily public records · 26 Days on market

Built 1914 2,000 sqft lot

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity in Sunset Park Brooklyn NY. This 6-family brick building is located between 3 ave & 62 street. The property has 3 stories and 6 apartments. Lot size 20x100, huge building size 20x74. Finished basement, conveniently to 8th ave, public transportation, subway station and Staten Island. Gross annual income is more than $79,000.00. This is a great potential for long term value appreciation, great income generation from the six units is substantial and the strong demand in the area. Sold "As Is".

Key facts

• Finished basement
• Subway station
• Brick building

Tags

• INVESTMENT OPPORTUNITY
• BRICK BUILDING
• FINISHED BASEMENT
• PUBLIC TRANSPORTATION
• SUBWAY STATION

Property features AI

Finance

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

Exterior

• Parking: No designated parking
• Utilities: Electric: 110V and 220V; Gas for heating and hot water; Steam/radiator heat delivery
• Home design: Attached mixed-use building
• Construction: Brick construction; Poured concrete foundation; Roof: Other (see remarks)
• Exterior features: Brick exterior; Lot dimensions approximately 20 x 100 (irregular lot)

Interior

• Kitchen: Each unit equipped with an oven/range
• Bedrooms: Six residential units: four 1-bedroom units and two 2-bedroom units (various floors)
• Flooring: Hardwood floors
• Bathrooms: Each unit includes a full bathroom
• Heating & cooling: Steam/radiator heat; Electric service includes 110V and 220V
• Interior features: Finished full basement; Hardwood floors
• Laundry & utility: Hot water provided by gas

What this means for you Summary

Snapshot

• This is a 6 × 8-bed/6.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.10M).
• Recommended offer: $1.08M (1.5% below list) — sets the bar for market timing.
• Cap rate 15.0% 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 (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $19,676/mo this rent would consume 338% of the median local household income ($70k/yr) (locally 6563% 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 $70k of equity ($8k loan paydown + $62k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $308k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$111k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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 $600k; list at $1.10M implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $1,083,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 15.01%
• Cash-on-cash: 31.14%
• DSCR: 2.39
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 45.0%
• Equity multiple: 3.95×
• Total profit: $907,094
• Equity at exit: $666,161

10-year hold

• IRR: 44.6%
• Equity multiple: 9.23×
• Total profit: $2,534,871
• Equity at exit: $1,186,758

Cash invested: $308,000 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 28.0×

Monthly cashflow live

• Estimated rent: $19,676 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$1,324 /mo · $15,891/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,132
• Net cashflow: $7,993

Break-even live

Break-even rent $9,558

Max offer price $1,100,000

Occupancy floor 54%

Sensitivity live

Price	-10% $8,616	-5% $8,304	+0% $7,993	+5% $7,682	+10% $7,370
Rent	-10% $6,439	-5% $7,216	+0% $7,993	+5% $8,770	+10% $9,547
Rate	-1.0pp $8,547	-0.5pp $8,273	base $7,993	+0.5pp $7,708	+1.0pp $7,418

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

Units	Beds	Baths	Est. rent
▸ 6× units	8	6	$19,674
Total (6 units)			$19,676

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $1,100,000 Active 26 DOM
2. 2026-06-18
   days on market $1,100,000 Active 23 DOM
3. 2026-06-17
   days on market $1,100,000 Active 22 DOM
4. 2026-06-16
   days on market $1,100,000 Active 21 DOM
5. 2026-06-15
   days on market $1,100,000 Active 20 DOM
6. 2026-06-13
   days on market $1,100,000 Active 18 DOM
7. 2026-06-10
   days on market $1,100,000 Active 14 DOM
8. 2026-06-08
   days on market $1,100,000 Active 13 DOM
9. 2026-06-08
   days on market $1,100,000 Active 12 DOM
10. 2026-06-04
    days on market $1,100,000 Active 9 DOM
11. 2026-06-03
    days on market $1,100,000 Active 8 DOM
12. 2026-06-02
    days on market $1,100,000 Active 7 DOM
13. 2026-06-01
    days on market $1,100,000 Active 6 DOM
14. 2026-05-31
    days on market $1,100,000 Active 5 DOM
15. 2026-05-25
    listed $1,100,000 Active
16. 2026-03-25
    price $995,000
17. 2026-01-22
    price $999,000
18. 2025-12-30
    price $1,190,000
19. 2025-11-18
    price $1,230,000
20. 2024-06-19
    historical
21. 2024-05-14
    listed $1,380,000 Active
22. 2011-07-08
    soldstatus $600,000
23. 2000-02-16
    soldstatus $265,000
24. 1999-11-30
    soldstatus $200,000
25. 1986-08-20
    soldstatus $140,000
26. 1984-12-06
    soldstatus $55,000

ⓘ 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: $15,891 · $1,324/mo
• Projected year-2 tax: $17,241 · $1,437/mo
• Expected delta: +$1,349/yr (+$112/mo · 8.5%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $236,112
• − Mortgage interest: −$61,617
• − Property taxes: −$15,891
• − Insurance: −$5,500
• − Repairs & maintenance: −$18,889
• − Management: −$18,889
• − Depreciation: −$32,000
• Taxable income: $83,326
• Est. tax owed @ 24.0%: −$19,998
• After-tax cash flow: $75,917/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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 0.65)
• Race & ethnicity: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

+1900.0% since first listed

12 events — show timeline

• 2026-05-25 Listed $1,100,000 BNYMLS
• 2026-03-25 Price Changed $995,000 BNYMLS
• 2026-01-22 Price Changed $999,000 BNYMLS
• 2025-12-30 Price Changed $1,190,000 BNYMLS
• 2025-11-18 Price Changed $1,230,000 BNYMLS
• 2024-06-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-14 Listed $1,380,000 OneKey® MLS as Distributed by MLS Grid
• 2011-07-08 Sold (Public Records) $600,000 Public Records
• 2000-02-16 Sold (Public Records) $265,000 Public Records
• 1999-11-30 Sold (Public Records) $200,000 Public Records
• 1986-08-20 Sold (Public Records) $140,000 Public Records
• 1984-12-06 Sold (Public Records) $55,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $15,891 · +6.9% YoY. Source: county tax records.