933 Cleveland St #0000000000000000 · New York, NY 11208

$1,499,000

9 bd · 6.9 ba · 3,756 sqft · MultiFamily public records · 158 Days on market

Built 2000 3,000 sqft lot Est $1285k · 17% over

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Why this score? — see what drove the F 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 +12.0/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

WELCOME TO 929 AND 933 CLEVELAND STREET BROOKLYN NY 11208, BEING SOLD CURRENTLY WITH NO ACCESS AND NONE PAYING TENANTS, OWNER IS VERY MOTIVATED, WANTS TO HEAR ALL OFFERS, SPECIALLY ''CASH'' OFFERS AND PREFERS A PACKAGE DEAL. BUILT IN 2000 THE BUILDINGS ARE BASICLY STILL NEW CONSTRUCTIONS, UNUSUALLY BUILT SOLID BRICK FROM FOUNDATION TO THE ROOF, LEGAL 3 FAMILIES, EACH BUILDING HAS 3 THREE BEDROOM APARTMENTS WITH 2 BATHS IN EACH UNIT, EACH APARTMENT HAS ITS OWN BOILER, HOT WATER HEATER AND THERMOSTAT, EACH BUILDING ALSO HAS A 2 BEDROOM BASEMENT WITH FRONT AND BACK ENTRANCES, EACH HAS DRIVEWAY TO A BIG BACKYARD. ALL NONE PAYING TENANTS HAVE ALREADY BEEN SERVED EVICTION NOTICES BY OWNERS LANDLO

Key facts

• Legal 3 families
• Driveway to backyard
• 2 bedroom basement

Tags

• SOLID BRICK CONSTRUCTION
• LEGAL 3 FAMILIES
• EACH APARTMENT HAS BOILER
• EACH APARTMENT HAS THERMOSTAT
• 2 BEDROOM BASEMENT
• DRIVEWAY TO BACKYARD

Property features AI

Exterior

• Parking: Driveway (no carport)
• Utilities: Public sewer; Electricity available; Natural gas available
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: At least one 3-bedroom unit
• Bathrooms: Seven full bathrooms
• Heating & cooling: Hot water heating; Steam heating; Separate meters for cooling
• Interior features: High ceilings; Finished, full basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.3-bath units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $-432 ($-5k/yr) — negative. Per door: $-144/mo.
• To cash-flow at today's rent, offer at most $1.42M (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.08M (28.0% below list).
• Recommended offer: $1.08M (28.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• 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 (+6.1%/yr); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,790/mo this rent would consume 209% of the median local household income ($62k/yr) (locally 7574% 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 $10k of loan paydown is wiped out by about $45k 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 158 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $30k; list at $1.50M implies a 4897% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $1,079,000 (28.0% 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 158 days. Have you received any prior offers? Is the seller open to a 28% 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. 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. 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?
11. 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.
12. 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.
13. 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: 0.72% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $1,284,552
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 Dumont Ave	0.60mi	9/3.0	3,750 (-0%)	12mo	$803,250	$214	46
1145 Sutter Ave	0.73mi	8/2.0 (-1)	3,800 (+1%)	3mo	$1,300,000	$342	42
369 Milford St	0.58mi	8/1.0 (-1)	3,198 (-15%)	5mo	$1,200,000	$375	24
1140 Sutter Ave	0.70mi	8/3.0 (-1)	3,420 (-9%)	19mo	$694,785	$203	17

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-235,941
• Equity at exit: $223,506

10-year hold

• IRR: -2.8%
• Equity multiple: 0.79×
• Total profit: $-89,802
• Equity at exit: $129,606

Cash invested: $419,720 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $10,790 medium
• Mortgage (P&I): −$7,861
• Tax from tax record: −$404 /mo · $4,847/yr
• Insurance: −$625
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,266
• Net cashflow: $-432

Break-even live

Break-even rent $11,337

Max offer price $1,422,728

Occupancy floor 99%

Sensitivity live

Price	-10% $417	-5% $-7	+0% $-432	+5% $-856	+10% $-1,280
Rent	-10% $-1,284	-5% $-858	+0% $-432	+5% $-6	+10% $421
Rate	-1.0pp $323	-0.5pp $-51	base $-432	+0.5pp $-820	+1.0pp $-1,215

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.3	$10,791
Total (3 units)			$10,790

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: $374,750
• Closing costs: $44,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $1,499,000 Active 158 DOM
2. 2026-06-18
   days on market $1,499,000 Active 155 DOM
3. 2026-06-17
   days on market $1,499,000 Active 154 DOM
4. 2026-06-15
   days on market $1,499,000 Active 152 DOM
5. 2026-06-13
   days on market $1,499,000 Active 150 DOM
6. 2026-06-10
   days on market $1,499,000 Active 146 DOM
7. 2026-06-08
   days on market $1,499,000 Active 145 DOM
8. 2026-06-04
   days on market $1,499,000 Active 141 DOM
9. 2026-06-03
   days on market $1,499,000 Active 140 DOM
10. 2026-06-01
    days on market $1,499,000 Active 138 DOM
11. 2026-05-31
    days on market $1,499,000 Active 137 DOM
12. 2026-01-14
    listed $1,499,000 Active
13. 2016-04-30
    historical
14. 2016-02-05
    soldstatus $30,000
15. 2016-02-02
    listed $1,499,000
16. 1993-04-21
    soldstatus $14,000
17. 1987-12-30
    soldstatus $21,000

ⓘ 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: $4,847 · $404/mo
• Projected year-2 tax: $15,090 · $1,257/mo
• Expected delta: +$10,243/yr (+$854/mo · 211.3%)

ⓘ 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) · 77% 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: $129,480
• − Mortgage interest: −$83,967
• − Property taxes: −$4,847
• − Insurance: −$8,292
• − Repairs & maintenance: −$10,358
• − Management: −$10,358
• − Depreciation: −$43,607
• Taxable loss: −$31,951
• Est. tax savings @ 24.0%: +$7,668
• After-tax cash flow: $2,487/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+7038.1% since first listed

6 events — show timeline

• 2026-01-14 Listed $1,499,000 OneKey® MLS as Distributed by MLS Grid
• 2016-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-02-05 Sold (Public Records) $30,000 Public Records
• 2016-02-02 Listed $1,499,000 OneKey® MLS as Distributed by MLS Grid
• 1993-04-21 Sold (Public Records) $14,000 Public Records
• 1987-12-30 Sold (Public Records) $21,000 Public Records

Property tax history

-3.7%/yr

Latest (2025): $4,847 · +3.4% YoY. Source: county tax records.