592 E 81 St · New York, NY 11236

$1,149,000

9 bd · 4.5 ba · 3,340 sqft · MultiFamily public records · 297 Days on market

Built 1965 2,800 sqft lot Est $1082k · 6% over

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Why this score? — see what drove the D+ 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 +19.2/30.0
• DSCR +6.1/10.0
• Schools +5.0/10.0
• ARV discount +4.7/15.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

Very large 2 family, 3 story, semi detached brick. 3 br apt over 3 br apt over 4 room walk-in with full bath. Building is built 20 x 60 on a large 28 x 100 lot. Private driveway. Bank owned property being sold AS IS with no representations or warranties. Buyers must verify all information including C of O.

Key facts

• Private driveway
• Multi-family home
• Excellent condition

Tags

• MULTI-FAMILY HOME
• PRIVATE DRIVEWAY
• EXCELLENT CONDITION
• SPACIOUS LIVING
• WELL-MAINTAINED LAYOUT
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Other: Two-unit multifamily (2 units); Total of 17 rooms in the building
• Financial info: Financing options: Exchange considered, bank mortgage, or cash

Exterior

• Parking: Private drive; Built-in garage with 6+ spaces
• Utilities: Electric: 100 Amp; Hot water: Gas; Heating fuel: Gas; Heat delivered by steam/radiator
• Home design: Residential property; Semi-detached building; Flat roof; Block foundation
• Construction: Brick construction; Built footprint approximately 1,200 (building footprint); Building dimensions: 60.00 x 20.00
• Exterior features: Back yard; Semi-detached building

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two 3-bedroom units (one on the 1st floor, one on the 2nd floor)
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms and two half bathrooms total; Each unit has 1 full bath and 1 half bath
• Heating & cooling: Steam/radiator heat; Gas heating fuel; 100 Amp electrical service
• Interior features: Wall A/C unit; Laundry area; Terrace; Finished, full, walk-in basement; Hardwood floors
• Laundry & utility: In-unit laundry area

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (6.8% below list).
• Recommended offer: $1.01M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: 228 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,707/mo this rent would consume 158% of the median local household income ($81k/yr) (locally 4225% 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 $8k of loan paydown is wiped out by about $34k 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 297 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $130k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $500k; list at $1.15M implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,011,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.93% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $1,082,160
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1071 E 92nd St	0.59mi	8/4.5 (-1)	3,400 (+2%)	0mo	$1,100,000	$324	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-107,750
• Equity at exit: $171,320

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $6,397
• Equity at exit: $99,345

Cash invested: $321,720 (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 11236

• Active inventory: 228
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $10,707 high
• Mortgage (P&I): −$6,025
• Tax from tax record: −$718 /mo · $8,621/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,248
• Net cashflow: $1,236

Break-even live

Break-even rent $9,143

Max offer price $1,149,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$10,707
Total (3 units)			$10,707

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: $287,250
• Closing costs: $34,470
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   status $1,149,000 Pending 297 DOM
2. 2026-06-15
   days on market $1,149,000 Active 297 DOM
3. 2026-06-13
   days on market $1,149,000 Active 295 DOM
4. 2026-06-10
   days on market $1,149,000 Active 291 DOM
5. 2026-06-08
   days on market $1,149,000 Active 290 DOM
6. 2026-06-03
   days on market $1,149,000 Active 285 DOM
7. 2026-06-01
   days on market $1,149,000 Active 283 DOM
8. 2026-05-31
   days on market $1,149,000 Active 282 DOM
9. 2026-01-02
   price $1,149,000
10. 2025-10-17
    price $1,249,000
11. 2025-08-22
    listed $1,279,000 Active
12. 2020-04-15
    soldstatus $500,000 Sold 309-char remark

    Show marketing remark (309 chars)

    Very large 2 family, 3 story, semi detached brick. 3 br apt over 3 br apt over 4 room walk-in with full bath. Building is built 20 x 60 on a large 28 x 100 lot. Private driveway. Bank owned property being sold AS IS with no representations or warranties. Buyers must verify all information including C of O.

13. 2015-04-21
    historical 309-char remark

    Show marketing remark (309 chars)

    Very large 2 family, 3 story, semi detached brick. 3 br apt over 3 br apt over 4 room walk-in with full bath. Building is built 20 x 60 on a large 28 x 100 lot. Private driveway. Bank owned property being sold AS IS with no representations or warranties. Buyers must verify all information including C of O.

14. 2015-02-09
    listed $559,900 309-char remark

    Show marketing remark (309 chars)

    Very large 2 family, 3 story, semi detached brick. 3 br apt over 3 br apt over 4 room walk-in with full bath. Building is built 20 x 60 on a large 28 x 100 lot. Private driveway. Bank owned property being sold AS IS with no representations or warranties. Buyers must verify all information including C of O.

15. 1988-04-06
    soldstatus $286,000
16. 1984-08-01
    soldstatus $125,000

ⓘ 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: $8,621 · $718/mo
• Projected year-2 tax: $14,019 · $1,168/mo
• Expected delta: +$5,399/yr (+$450/mo · 62.6%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 14 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: $128,484
• − Mortgage interest: −$64,362
• − Property taxes: −$8,621
• − Insurance: −$5,745
• − Repairs & maintenance: −$10,279
• − Management: −$10,279
• − Depreciation: −$33,425
• Taxable loss: −$4,226
• Est. tax savings @ 24.0%: +$1,014
• After-tax cash flow: $15,845/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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 (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

+819.2% since first listed

8 events — show timeline

• 2026-01-02 Price Changed $1,149,000 BNYMLS
• 2025-10-17 Price Changed $1,249,000 BNYMLS
• 2025-08-22 Listed $1,279,000 BNYMLS
• 2020-04-15 Sold (MLS) $500,000 BNYMLS
• 2015-04-21 Delisted — BNYMLS
• 2015-02-09 Listed $559,900 BNYMLS
• 1988-04-06 Sold (Public Records) $286,000 Public Records
• 1984-08-01 Sold (Public Records) $125,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $8,621 · -11.6% YoY. Source: county tax records.