37 Apollo St · New York, NY 11222

$2,225,000

3 bd · 2.0 ba · 2,922 sqft · MultiFamily public records · 53 Days on market

Built 1899 1,900 sqft lot ↓ 3% since listing

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Why this score? — see what drove the C 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 +16.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Architectural Distinction Meets Modern Innovation in Greenpoint Discover a meticulously maintained piece of Brooklyn’s architectural heritage. This all-brick townhouse with a striking turret-style exterior offers a rare opportunity to own a 100% turn-key property in one of the borough's most vibrant corridors. Fully updated and forward-thinking, this residence is designed for the discerning buyer seeking luxury, convenience, and peace of mind. Innovation for the Seasons: Fully Heated Sidewalks Setting a new standard for Brooklyn living, this property features a state-of-the-art, fully heated sidewalk system. This premium upgrade ensures a snow-free and ice-free perimeter without the n

Key facts

• Open-concept kitchen
• Private backyard
• Turn-key property

Tags

• TURN-KEY PROPERTY
• TURRET-STYLE EXTERIOR
• OPEN-CONCEPT KITCHEN
• PRIVATE BACKYARD
• FULLY FINISHED BASEMENT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Water connected; Natural gas connected; Electricity connected; Cable available; Phone available; Public trash collection
• Home design: Townhouse; Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Granite counters; Kitchen island; Open, eat-in kitchen
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Ceramic tile; Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Ductless cooling; Wall/window AC units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Eat-in kitchen; Entrance foyer; Granite counters; Kitchen island; Open kitchen; Recessed lighting; Soaking tub; Storage; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $2.23M.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.80M (19.3% below list).
• Recommended offer: $1.80M (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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 (+1.0%/yr); 105 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $17,965/mo this rent would consume 171% of the median local household income ($126k/yr) (locally 3139% 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 $238k of equity ($15k loan paydown + $222k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 1.0% rent growth), your $623k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$382k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $1,796,500 (19.3% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 3.00×
• Total profit: $1,245,204
• Equity at exit: $2,004,456

10-year hold

• IRR: 21.8%
• Equity multiple: 6.69×
• Total profit: $3,544,300
• Equity at exit: $4,322,686

Cash invested: $623,000 (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 11222

• Home prices YoY: 2.9%
• Rents YoY: 1.0%
• Active inventory: 105
• Price-to-rent: 31.0×

Monthly cashflow live

• Estimated rent: $17,965 high
• Mortgage (P&I): −$11,668
• Tax from tax record: −$504 /mo · $6,045/yr
• Insurance: −$927
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,773
• Net cashflow: $1,093

Break-even live

Break-even rent $16,581

Max offer price $2,225,000

Occupancy floor 89%

Sensitivity live

Price	-10% $2,353	-5% $1,723	+0% $1,093	+5% $464	+10% $-166
Rent	-10% $-326	-5% $384	+0% $1,093	+5% $1,803	+10% $2,513
Rate	-1.0pp $2,214	-0.5pp $1,659	base $1,093	+0.5pp $517	+1.0pp $-70

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$17,964
Total (3 units)			$17,965

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: $556,250
• Closing costs: $66,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $2,225,000 Active 53 DOM
2. 2026-06-18
   days on market $2,225,000 Active 50 DOM
3. 2026-06-17
   days on market $2,225,000 Active 49 DOM
4. 2026-06-16
   days on market $2,225,000 Active 48 DOM
5. 2026-06-15
   days on market $2,225,000 Active 47 DOM
6. 2026-06-13
   days on market $2,225,000 Active 45 DOM
7. 2026-06-10
   days on market $2,225,000 Active 41 DOM
8. 2026-06-08
   days on market $2,225,000 Active 40 DOM
9. 2026-06-08
   days on market $2,225,000 Active 39 DOM
10. 2026-06-04
    days on market $2,225,000 Active 36 DOM
11. 2026-06-03
    days on market $2,225,000 Active 35 DOM
12. 2026-06-01
    days on market $2,225,000 Active 33 DOM
13. 2026-05-31
    days on market $2,225,000 Active 32 DOM
14. 2026-04-28
    listed $2,225,000 Active
15. 2019-11-30
    historical
16. 2019-05-29
    listed $2,000,000 New
17. 2019-03-02
    historical
18. 2018-11-30
    listed $2,288,000 New

ⓘ 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: $6,045 · $504/mo
• Projected year-2 tax: $21,824 · $1,819/mo
• Expected delta: +$15,779/yr (+$1,315/mo · 261.0%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $215,580
• − Mortgage interest: −$124,635
• − Property taxes: −$6,045
• − Insurance: −$11,125
• − Repairs & maintenance: −$17,246
• − Management: −$17,246
• − Depreciation: −$64,727
• Taxable loss: −$25,445
• Est. tax savings @ 24.0%: +$6,107
• After-tax cash flow: $19,227/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): 42,853
• Household income: $125,734
• Rent vs Own: 81.9% rent · 18.1% own
• Severe rent burden: 3139.0

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 White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 15% Slovak 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Russian/Polish/Slavic 12% Spanish 10% Other Indo-European 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: ▲ 22.48%
• Current HPI: 787.4068
• Rent YoY: ▲ 1.02%
• 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

-2.8% since first listed

5 events — show timeline

• 2026-04-28 Listed $2,225,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-05-29 Listed $2,000,000 OneKey® MLS as Distributed by MLS Grid
• 2019-03-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-11-30 Listed $2,288,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2024): $6,045 · -0.3% YoY. Source: county tax records.