3707 Nautilus Ave · New York, NY 11224

$699,000

6 bd · 6.0 ba · 1,851 sqft · MultiFamily public records · 209 Days on market

Built 1945 2,200 sqft lot Est $798k · 12% under $304/mo HOA · 7% of rent

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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
• ARV discount +13.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to the heart of Seagate, an amazing private gated community right on the beach with a great opportunity to live in a Beautiful 2 Family Brick House. This 2-story home has 1,851 Sq Ft of livable space which is in good condition, but the 1st floor rental apartment will need some TLC. Don’t miss out on this great opportunity to resign and rent out or use it for yourself. This home sits on a 22 × 100 lot. The ground floor features a spacious 1-bedroom apartment with a large living room, bedroom, bathroom space and separate space for an eat-in kitchen, the 2nd floor features 2 bedrooms with closets, a huge living room, eat-in kitchen, full size bathroom. The home also features a large private backyard, driveway leading to the 1 car attached garage, utility room behind the garage with furnace and water heater (both are 1 Year old) The Sea Gate community provides 24-hour security with a gated entrance. Short distance to the community's private beach, public transportation nearby (city bus and express bus to Manhattan). City bus connects to the subway Trains. Flood Insurance is required. Don't miss out on this great opportunity! CASH Buyers wanted.

Key facts

• 24 hour security
• 2,200 sq ft lot
• Garage

Tags

• PRIVATE GATED COMMUNITY
• LARGE PRIVATE BACKYARD
• SPACIOUS 1 BEDROOM APARTMENT
• UTILITY ROOM BEHIND GARAGE
• 24 HOUR SECURITY
• PUBLIC TRANSPORTATION NEARBY

Property features AI

Finance

• Other: Lot size approximately 0.05 acres (2,200 sq ft)
• Financial info: Multifamily: 2 total units
• HOA & community: Has association with a fee of $304

Exterior

• Parking: Attached garage (1 space); Carport
• Utilities: 220-volt electric
• Home design: One-story building; Multifamily property with 2 units
• Construction: Brick construction; Year built: Approximate
• Exterior features: Brick exterior; Lot dimensions 22 x 100; Zoning R3-1

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom
• Bathrooms: Total of 3 bathrooms (1 full, 2 three-quarter)
• Heating & cooling: Natural gas forced air heating; Air conditioning units
• Interior features: Air conditioning units; Good property condition

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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.
• 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 $9,190/mo this rent would consume 253% 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 $40k of equity ($5k loan paydown + $35k 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 $196k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $100k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $699k implies a 366% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $615,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 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 1945 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
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: 1.31% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $797,781
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3735 Oceanic Ave	0.07mi	5/3.5 (-1)	2,053 (+11%)	1mo	$885,000	$431	63

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

Projected returns pro-forma

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

5-year hold

• IRR: 29.7%
• Equity multiple: 2.90×
• Total profit: $372,308
• Equity at exit: $395,350

10-year hold

• IRR: 30.4%
• Equity multiple: 6.44×
• Total profit: $1,065,622
• Equity at exit: $681,689

Cash invested: $195,720 (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: 12.7×

Monthly cashflow live

• Estimated rent: $9,190 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$214 /mo · $2,564/yr
• Insurance: −$291
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$304
• Vacancy / Maint / Mgmt: −$1,930
• Net cashflow: $2,719

Break-even live

Break-even rent $5,748

Max offer price $699,000

Occupancy floor 65%

Sensitivity live

Price	-10% $3,115	-5% $2,917	+0% $2,719	+5% $2,521	+10% $2,323
Rent	-10% $1,993	-5% $2,356	+0% $2,719	+5% $3,082	+10% $3,445
Rate	-1.0pp $3,071	-0.5pp $2,897	base $2,719	+0.5pp $2,538	+1.0pp $2,354

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$9,190
Total (2 units)			$9,190

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $304 · $3,648/yr
• Likely covers: watersecurity

Listing history 16 events

1. 2026-06-21
   days on market $699,000 Active 209 DOM
2. 2026-06-18
   days on market $699,000 Active 206 DOM
3. 2026-06-17
   days on market $699,000 Active 205 DOM
4. 2026-06-15
   days on market $699,000 Active 203 DOM
5. 2026-06-13
   days on market $699,000 Active 201 DOM
6. 2026-06-10
   days on market $699,000 Active 197 DOM
7. 2026-06-08
   days on market $699,000 Active 196 DOM
8. 2026-06-04
   days on market $699,000 Active 192 DOM
9. 2026-06-03
   days on market $699,000 Active 191 DOM
10. 2026-06-01
    days on market $699,000 Active 189 DOM
11. 2026-05-31
    days on market $699,000 Active 188 DOM
12. 2026-01-13
    price $699,000 1184-char remark

    Show marketing remark (1184 chars)

    Welcome to the heart of Seagate, an amazing private gated community right on the beach with a great opportunity to live in a Beautiful 2 Family Brick House. This 2-story home has 1,851 Sq Ft of livable space which is in good condition, but the 1st floor rental apartment will need some TLC. Don’t miss out on this great opportunity to resign and rent out or use it for yourself. This home sits on a 22 × 100 lot. The ground floor features a spacious 1-bedroom apartment with a large living room, bedroom, bathroom space and separate space for an eat-in kitchen, the 2nd floor features 2 bedrooms with closets, a huge living room, eat-in kitchen, full size bathroom. The home also features a large private backyard, driveway leading to the 1 car attached garage, utility room behind the garage with furnace and water heater (both are 1 Year old) The Sea Gate community provides 24-hour security with a gated entrance. Short distance to the community's private beach, public transportation nearby (city bus and express bus to Manhattan). City bus connects to the subway Trains. Flood Insurance is required. Don't miss out on this great opportunity! CASH Buyers wanted.

13. 2026-01-13
    price $699,000

    Show marketing remark (1184 chars)

    Welcome to the heart of Seagate, an amazing private gated community right on the beach with a great opportunity to live in a Beautiful 2 Family Brick House. This 2-story home has 1,851 Sq Ft of livable space which is in good condition, but the 1st floor rental apartment will need some TLC. Don’t miss out on this great opportunity to resign and rent out or use it for yourself. This home sits on a 22 × 100 lot. The ground floor features a spacious 1-bedroom apartment with a large living room, bedroom, bathroom space and separate space for an eat-in kitchen, the 2nd floor features 2 bedrooms with closets, a huge living room, eat-in kitchen, full size bathroom. The home also features a large private backyard, driveway leading to the 1 car attached garage, utility room behind the garage with furnace and water heater (both are 1 Year old) The Sea Gate community provides 24-hour security with a gated entrance. Short distance to the community's private beach, public transportation nearby (city bus and express bus to Manhattan). City bus connects to the subway Trains. Flood Insurance is required. Don't miss out on this great opportunity! CASH Buyers wanted.

14. 2025-11-25
    listed $799,000 Active
15. 2025-11-23
    listed $799,000 Active 1184-char remark

    Show marketing remark (1184 chars)

    Welcome to the heart of Seagate, an amazing private gated community right on the beach with a great opportunity to live in a Beautiful 2 Family Brick House. This 2-story home has 1,851 Sq Ft of livable space which is in good condition, but the 1st floor rental apartment will need some TLC. Don’t miss out on this great opportunity to resign and rent out or use it for yourself. This home sits on a 22 × 100 lot. The ground floor features a spacious 1-bedroom apartment with a large living room, bedroom, bathroom space and separate space for an eat-in kitchen, the 2nd floor features 2 bedrooms with closets, a huge living room, eat-in kitchen, full size bathroom. The home also features a large private backyard, driveway leading to the 1 car attached garage, utility room behind the garage with furnace and water heater (both are 1 Year old) The Sea Gate community provides 24-hour security with a gated entrance. Short distance to the community's private beach, public transportation nearby (city bus and express bus to Manhattan). City bus connects to the subway Trains. Flood Insurance is required. Don't miss out on this great opportunity! CASH Buyers wanted.

16. 1999-04-12
    soldstatus $150,000

ⓘ 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: $2,564 · $214/mo
• Projected year-2 tax: $7,188 · $599/mo
• Expected delta: +$4,625/yr (+$385/mo · 180.4%)

ⓘ 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 (shaded) · 74% 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: $110,280
• − Mortgage interest: −$39,155
• − Property taxes: −$2,564
• − Insurance: −$4,292
• − Repairs & maintenance: −$8,822
• − Management: −$8,822
• − HOA: −$3,648
• − Depreciation: −$20,335
• Taxable income: $22,642
• Est. tax owed @ 24.0%: −$5,434
• After-tax cash flow: $27,196/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

+366.0% since first listed

5 events — show timeline

• 2026-01-13 Price Changed $699,000 BNYMLS
• 2026-01-13 Price Changed $699,000 SIBORMLS
• 2025-11-25 Listed $799,000 SIBORMLS
• 2025-11-23 Listed $799,000 BNYMLS
• 1999-04-12 Sold (Public Records) $150,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $2,564 · -51.1% YoY. Source: county tax records.