487 E 93rd St · New York, NY 11212

$1,200,000

None bd · None ba · 3,440 sqft · MultiFamily public records · 66 Days on market

Built 1930 3,000 sqft lot Est $1087k · 10% over

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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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Legal 4 Family + Legal Basement investment Opportunity * % cap Rate INCREDIBLE INVESTMENT OPPORTUNITY!! PLEASE READ BELOW FOR NOI REPORT Legal 4 family with legal 3 bedroom basement for additional income Exceptional Four-Family Investment Property in East Flatbush "THIS PROPERTY IS "S IS " TENANTS WONT ALLOW ACCESS Discover an incredible investment opportunity with this well-maintained four-family property in the heart of East Flatbush, Brooklyn. Perfectly suited for investors looking to generate substantial rental income, this property offers a blend of modern amenities and classic charm in a prime location. Property Features: Four Family Units: This property featu

Key facts

• New boiler
• Legal basement unit
• Private backyard

Tags

• FOUR FAMILY UNITS
• LEGAL BASEMENT UNIT
• PRIVATE BACKYARD
• NEW ROOF
• NEW BOILER
• CONVENIENT ACCESS

Property features AI

Exterior

• Parking: Driveway; Total parking for 3 vehicles; 1-car garage
• Utilities: Electric service by Con-Edison; Sewer: other; No utilities listed
• Home design: Quadruplex; Actual condition
• Construction: Brick construction; Brick/mortar foundation; Brick fencing
• Exterior features: Back yard; Paved areas

Interior

• Heating & cooling: No central cooling; Other heating
• Interior features: Finished basement with storage space; Other interior features

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $642/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.20M).
• Recommended offer: $1.13M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 soft (-0.6%/yr); 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,134/mo this rent would consume 381% of the median local household income ($41k/yr) (locally 9035% 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 $36k 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 66 days — a 6% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 14y 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 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $1,128,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 1930 — 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: 1.09% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.17%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $1,087,040
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
348 E 92nd St	0.27mi	7/3.0	3,275 (-5%)	6mo	$900,000	$275	75
400 Rockaway Pkwy	0.22mi	1/1.0	3,198 (-7%)	4mo	$999,000	$312	75
2304 Strauss St	0.29mi	7/4.0	3,198 (-7%)	4mo	$1,081,500	$338	72
93 E 57th St	0.29mi	9/6.0	3,240 (-6%)	7mo	$13,100,000	$4,043	71
309 Rockaway Pkwy	0.35mi	7/4.0	3,198 (-7%)	8mo	$1,125,000	$352	65
181 E 59th St	0.40mi	7/3.0	3,275 (-5%)	13mo	$1,035,000	$316	63
197 East 55 St	0.40mi	6/3.0	3,200 (-7%)	10mo	$1,260,000	$394	62
432 E 98th St #4	0.25mi	8/4.0	3,198 (-7%)	18mo	$657,500	$206	62
252 E 91 St	0.46mi	6/3.5	3,360 (-2%)	17mo	$930,000	$277	60
432 Amboy St	0.44mi	6/3.0	3,198 (-7%)	9mo	$950,000	$297	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-69,594
• Equity at exit: $178,924

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $711
• Equity at exit: $103,754

Cash invested: $336,000 (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 11212

• Home prices YoY: -34.3%
• Rents YoY: -0.6%
• Active inventory: 65
• Price-to-rent: 30.5×

Monthly cashflow live

• Estimated rent: $13,134 medium
• Mortgage (P&I): −$6,293
• Tax from tax record: −$1,017 /mo · $12,200/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,758
• Net cashflow: $2,566

Break-even live

Break-even rent $9,886

Max offer price $1,200,000

Occupancy floor 75%

Sensitivity live

Price	-10% $3,246	-5% $2,906	+0% $2,566	+5% $2,227	+10% $1,887
Rent	-10% $1,529	-5% $2,047	+0% $2,566	+5% $3,085	+10% $3,604
Rate	-1.0pp $3,171	-0.5pp $2,871	base $2,566	+0.5pp $2,255	+1.0pp $1,939

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$13,132
Total (4 units)			$13,134

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1135 Eastern Pkwy Brooklyn, NY	2.0	1.0	4412	$2,997	$0.68	25d	1	1.18mi

Listing history 35 events

1. 2026-06-18
   days on market $1,200,000 Active 66 DOM
2. 2026-06-17
   days on market $1,200,000 Active 65 DOM
3. 2026-06-15
   days on market $1,200,000 Active 63 DOM
4. 2026-06-13
   days on market $1,200,000 Active 61 DOM
5. 2026-06-10
   days on market $1,200,000 Active 57 DOM
6. 2026-06-08
   days on market $1,200,000 Active 56 DOM
7. 2026-06-08
   days on market $1,200,000 Active 55 DOM
8. 2026-06-04
   days on market $1,200,000 Active 52 DOM
9. 2026-06-03
   days on market $1,200,000 Active 51 DOM
10. 2026-06-01
    days on market $1,200,000 Active 49 DOM
11. 2026-05-31
    days on market $1,200,000 Active 48 DOM
12. 2026-04-10
    listed $1,200,000 Active
13. 2025-10-30
    status Pending
14. 2025-10-16
    historical
15. 2025-10-16
    historical
16. 2025-09-17
    price $1,200,000
17. 2025-04-24
    listed $1,288,888 Active
18. 2025-04-20
    historical
19. 2025-03-28
    price $1,299,999
20. 2024-10-06
    price $1,350,000
21. 2024-07-29
    listed $1,399,999 Active
22. 2024-04-04
    soldstatus $1,300,000
23. 2023-06-03
    historical
24. 2022-05-09
    status Active
25. 2022-05-08
    status Active
26. 2022-03-22
    listed $1,500,000 Active
27. 2022-03-22
    listed $1,500,000 Active
28. 2013-08-29
    historical
29. 2013-03-05
    listed $699,000
30. 2013-03-04
    historical
31. 2012-04-18
    listed $750,000
32. 2011-12-22
    soldstatus $425,000
33. 2010-05-13
    soldstatus $664,112
34. 2007-07-26
    soldstatus $618,000
35. 1990-11-26
    soldstatus $215,000

ⓘ 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: $12,200 · $1,017/mo
• Projected year-2 tax: $16,240 · $1,353/mo
• Expected delta: +$4,040/yr (+$337/mo · 33.1%)

ⓘ 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 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: $157,608
• − Mortgage interest: −$67,219
• − Property taxes: −$12,200
• − Insurance: −$6,000
• − Repairs & maintenance: −$12,609
• − Management: −$12,609
• − Depreciation: −$34,909
• Taxable income: $12,063
• Est. tax owed @ 24.0%: −$2,895
• After-tax cash flow: $27,900/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): 89,020
• Household income: $41,355
• Rent vs Own: 86.8% rent · 13.2% own
• Severe rent burden: 9035.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 20% Two or more races 12% White 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 3% Ukrainian 1%
• Foreign-born: 34% · Canada, Mexico, China
• Languages at home: 77% English-only · Spanish 14% French/Haitian/Cajun 4% Arabic 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: ▼ -140.90%
• Current HPI: 269.7955
• Rent YoY: ▼ -0.59%
• 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

+458.1% since first listed

24 events — show timeline

• 2026-04-10 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-24 Listed $1,288,888 OneKey® MLS as Distributed by MLS Grid
• 2025-04-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-28 Price Changed $1,299,999 OneKey® MLS as Distributed by MLS Grid
• 2024-10-06 Price Changed $1,350,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-29 Listed $1,399,999 OneKey® MLS as Distributed by MLS Grid
• 2024-04-04 Sold (Public Records) $1,300,000 Public Records
• 2023-06-03 Rental Removed — RENT.
• 2022-05-09 Relisted — RLS at REBNY
• 2022-05-08 Relisted — RLS at REBNY
• 2022-03-22 Listed $1,500,000 RLS at REBNY
• 2022-03-22 Listed $1,500,000 RLS at REBNY
• 2013-08-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-03-05 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2013-03-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-04-18 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2011-12-22 Sold (Public Records) $425,000 Public Records
• 2010-05-13 Sold (Public Records) $664,112 Public Records
• 2007-07-26 Sold (Public Records) $618,000 Public Records
• 1990-11-26 Sold (Public Records) $215,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $12,200 · +6.9% YoY. Source: county tax records.