256 Withers St · New York, NY 11211

$3,500,000

18 bd · 6.0 ba · 5,625 sqft · MultiFamily public records · 336 Days on market

Built 1920 2,318 sqft lot ↓ 30% since listing

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Why this score? — see what drove the B- 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 +23.7/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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 MLS

PRIME GREENPOINT/WILLIAMSBURG - 6-FAMILY INVESTMENT OPPORTUNITY Exceptional and well-maintained 6-family brick building featuring 3 rent-stabilized units and 3 free-market apartments, with a strong rental income of $10,145/month ($121,746/year) - all on month-to-month leases. Each spacious residential unit averages 938 sq ft with 2 to 3 bedrooms, exposed brick, and hardwood floors. The market-rate apartments have been completely renovated to high standards. Property Features: Zoning: R6B Building Size: 25 ft x 75 ft Lot Size: 23.58 ft x 98.33 ft Private enclosed backyard Clean building with no violations Unbeatable location just minutes from the L Train at Graham Ave and surrounded by top-rated restaurants, shops, and all neighborhood conveniences. NDA & Proof of Funds required for full details.

Key facts

• Unbeatable location
• Strong rental income
• 2,318 sq ft lot

Tags

• WELL MAINTAINED BRICK BUILDING
• 3 RENT STABILIZED UNITS
• 3 FREE MARKET APARTMENTS
• STRONG RENTAL INCOME
• PRIVATE ENCLOSED BACKYARD
• UNBEATABLE LOCATION

Property features AI

Finance

• Other: Property contains six residential units (multi-unit building)
• Financial info: Financing options may include cash, bank mortgage, or exchange consideration; Property produces rent income (reported)
• HOA & community: Building offers shared storage rooms

Exterior

• Parking: No parking available
• Security: Card-operated entry door; Secure lobby
• Utilities: Electric with circuit breakers; Gas hot water; Gas heating fuel
• Home design: Semi-detached residential building; Flat roof; Brick exterior
• Construction: Brick construction; Poured concrete foundation
• Exterior features: Front and back yards; Fully fenced yard; Secure lobby with card-operated door; Storage rooms

Interior

• Kitchen: Oven/range included; Refrigerator included; Appliances included in units
• Bedrooms: Six bedrooms on the first level; Six bedrooms on the second level; Four bedrooms on the third level
• Flooring: Hardwood floors; Other flooring noted in remarks
• Bathrooms: Six full bathrooms total (two on each level)
• Heating & cooling: Steam/radiator heat; Gas hot water and heating fuel; No central AC units reported
• Interior features: Refrigerator and stove included; Other interior features noted; Full basement with separate entrance and walk-in access; Some areas referenced as 'other' in remarks
• Laundry & utility: Water included for units

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.0-bath units multifamily listed at $3.50M.

Deal economics

• At list price, monthly cash flow is $7k ($80k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($35k rent vs $3.50M).
• Recommended offer: $3.08M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Rents rising fast (+6.1%/yr); 135 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $35,146/mo this rent would consume 392% of the median local household income ($108k/yr) (locally 5879% 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 $374k of equity ($24k loan paydown + $350k 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 + 6.1% rent growth), your $980k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$602k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($3.08M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $1.40M (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $3,080,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 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 1920 — 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. 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.
10. 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.
11. 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: 1.00% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.16%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 3.49×
• Total profit: $2,440,793
• Equity at exit: $3,153,077

10-year hold

• IRR: 28.0%
• Equity multiple: 8.25×
• Total profit: $7,107,266
• Equity at exit: $6,799,730

Cash invested: $980,000 (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 11211

• Home prices YoY: 2.6%
• Rents YoY: 6.1%
• Active inventory: 135
• Price-to-rent: 49.8×

Monthly cashflow live

• Estimated rent: $35,146 medium
• Mortgage (P&I): −$18,354
• Tax from tax record: −$1,288 /mo · $15,461/yr
• Insurance: −$1,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,381
• Net cashflow: $6,664

Break-even live

Break-even rent $26,710

Max offer price $3,500,000

Occupancy floor 76%

Sensitivity live

Price	-10% $8,645	-5% $7,655	+0% $6,664	+5% $5,674	+10% $4,683
Rent	-10% $3,888	-5% $5,276	+0% $6,664	+5% $8,052	+10% $9,441
Rate	-1.0pp $8,427	-0.5pp $7,554	base $6,664	+0.5pp $5,757	+1.0pp $4,835

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$35,148
Total (6 units)			$35,146

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: $875,000
• Closing costs: $105,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $3,500,000 Active 336 DOM
2. 2026-06-17
   days on market $3,500,000 Active 335 DOM
3. 2026-06-15
   days on market $3,500,000 Active 333 DOM
4. 2026-06-13
   days on market $3,500,000 Active 331 DOM
5. 2026-06-10
   days on market $3,500,000 Active 327 DOM
6. 2026-06-08
   days on market $3,500,000 Active 326 DOM
7. 2026-06-03
   days on market $3,500,000 Active 321 DOM
8. 2026-06-01
   days on market $3,500,000 Active 319 DOM
9. 2026-05-31
   days on market $3,500,000 Active 318 DOM
10. 2026-01-12
    price $3,500,000

    Show marketing remark (812 chars)

    PRIME GREENPOINT/WILLIAMSBURG - 6-FAMILY INVESTMENT OPPORTUNITY Exceptional and well-maintained 6-family brick building featuring 3 rent-stabilized units and 3 free-market apartments, with a strong rental income of $10,145/month ($121,746/year) - all on month-to-month leases. Each spacious residential unit averages 938 sq ft with 2 to 3 bedrooms, exposed brick, and hardwood floors. The market-rate apartments have been completely renovated to high standards. Property Features: Zoning: R6B Building Size: 25 ft x 75 ft Lot Size: 23.58 ft x 98.33 ft Private enclosed backyard Clean building with no violations Unbeatable location just minutes from the L Train at Graham Ave and surrounded by top-rated restaurants, shops, and all neighborhood conveniences. NDA & Proof of Funds required for full details.

11. 2026-01-12
    price $3,900,000

    Show marketing remark (812 chars)

    PRIME GREENPOINT/WILLIAMSBURG - 6-FAMILY INVESTMENT OPPORTUNITY Exceptional and well-maintained 6-family brick building featuring 3 rent-stabilized units and 3 free-market apartments, with a strong rental income of $10,145/month ($121,746/year) - all on month-to-month leases. Each spacious residential unit averages 938 sq ft with 2 to 3 bedrooms, exposed brick, and hardwood floors. The market-rate apartments have been completely renovated to high standards. Property Features: Zoning: R6B Building Size: 25 ft x 75 ft Lot Size: 23.58 ft x 98.33 ft Private enclosed backyard Clean building with no violations Unbeatable location just minutes from the L Train at Graham Ave and surrounded by top-rated restaurants, shops, and all neighborhood conveniences. NDA & Proof of Funds required for full details.

12. 2026-01-12
    price $3,500,000 812-char remark

    Show marketing remark (812 chars)

    PRIME GREENPOINT/WILLIAMSBURG - 6-FAMILY INVESTMENT OPPORTUNITY Exceptional and well-maintained 6-family brick building featuring 3 rent-stabilized units and 3 free-market apartments, with a strong rental income of $10,145/month ($121,746/year) - all on month-to-month leases. Each spacious residential unit averages 938 sq ft with 2 to 3 bedrooms, exposed brick, and hardwood floors. The market-rate apartments have been completely renovated to high standards. Property Features: Zoning: R6B Building Size: 25 ft x 75 ft Lot Size: 23.58 ft x 98.33 ft Private enclosed backyard Clean building with no violations Unbeatable location just minutes from the L Train at Graham Ave and surrounded by top-rated restaurants, shops, and all neighborhood conveniences. NDA & Proof of Funds required for full details.

13. 2025-07-18
    listed $4,900,000 Active 812-char remark

    Show marketing remark (812 chars)

    PRIME GREENPOINT/WILLIAMSBURG - 6-FAMILY INVESTMENT OPPORTUNITY Exceptional and well-maintained 6-family brick building featuring 3 rent-stabilized units and 3 free-market apartments, with a strong rental income of $10,145/month ($121,746/year) - all on month-to-month leases. Each spacious residential unit averages 938 sq ft with 2 to 3 bedrooms, exposed brick, and hardwood floors. The market-rate apartments have been completely renovated to high standards. Property Features: Zoning: R6B Building Size: 25 ft x 75 ft Lot Size: 23.58 ft x 98.33 ft Private enclosed backyard Clean building with no violations Unbeatable location just minutes from the L Train at Graham Ave and surrounded by top-rated restaurants, shops, and all neighborhood conveniences. NDA & Proof of Funds required for full details.

14. 2025-07-17
    listed $4,900,000 Active
15. 2024-06-30
    historical
16. 2024-05-12
    price $4,988,888
17. 2024-05-10
    listed $4,998,888 Active

ⓘ 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: $15,461 · $1,288/mo
• Projected year-2 tax: $37,306 · $3,109/mo
• Expected delta: +$21,844/yr (+$1,820/mo · 141.3%)

ⓘ 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 · 15 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: $421,752
• − Mortgage interest: −$196,054
• − Property taxes: −$15,461
• − Insurance: −$17,500
• − Repairs & maintenance: −$33,740
• − Management: −$33,740
• − Depreciation: −$101,818
• Taxable income: $23,438
• Est. tax owed @ 24.0%: −$5,625
• After-tax cash flow: $74,345/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): 65,314
• Household income: $107,506
• Rent vs Own: 82.8% rent · 17.2% own
• Severe rent burden: 5879.0

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 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 26% Two or more races 9% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 6%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 21% German/W. Germanic 17% 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: ▲ 14.72%
• Current HPI: 588.2538
• Rent YoY: ▲ 6.06%
• 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

-30.0% since first listed

8 events — show timeline

• 2026-01-12 Price Changed $3,500,000 BNYMLS
• 2026-01-12 Price Changed $3,900,000 BNYMLS
• 2026-01-12 Price Changed $3,500,000 RLS at REBNY
• 2025-07-18 Listed $4,900,000 RLS at REBNY
• 2025-07-17 Listed $4,900,000 BNYMLS
• 2024-06-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-12 Price Changed $4,988,888 BNYMLS
• 2024-05-10 Listed $4,998,888 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $15,461 · +10.1% YoY. Source: county tax records.