599 Liberty Ave · New York, NY 11207

$750,000

9 bd · 3.9 ba · — sqft · MultiFamily · 91 Days on market

Built 1910 2,200 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 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

599 Liberty Ave is a multi family dwelling, 3 story plus full finished basement, all units are 3 bedrooms and one full bathroom Buyers must have 30% downpayment or higher. This property can be purchased with next door property, 597 Liberty Ave, MLS # 3470446. The FAR for the two properties is 15,897 buildable Sq ft which make it a great investment for investor or business owner!

Key facts

• 2,200 sq ft lot
• Built 1910
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $750k).
• Recommended offer: $682k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+5.3%/yr); 254 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,496/mo this rent would consume 223% of the median local household income ($57k/yr) (locally 7510% 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 $5k of loan paydown is wiped out by about $22k 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $210k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $682,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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 1910 — 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: 1.40% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
590 Liberty Ave	0.03mi	8/3.0 (-1)	3,240	7mo	$1,050,000	$324	72
387 Jerome St	0.26mi	9/5.0	2,934	1mo	$1,175,000	$400	70
239 New Jersey Ave	0.41mi	9/5.0	—	2mo	$1,150,000	—	62
448 Ashford St #3	0.36mi	8/5.0 (-1)	2,970	3mo	$1,250,000	$421	59
2981 Fulton St	0.33mi	8/5.0 (-1)	4,875	7mo	$1,200,000	$246	57
117 Cleveland St	0.45mi	8/4.0 (-1)	2,520	5mo	$750,000	$298	57
390 Essex St	0.31mi	8/5.0 (-1)	2,812	8mo	$1,140,000	$405	56
80 Etna St	0.73mi	9/4.0	2,688	2mo	$1,165,000	$433	51
311 Sheffield Ave	0.62mi	9/6.0	4,163	8mo	$969,000	$233	44
1145 Sutter Ave	0.66mi	8/2.0 (-1)	3,800	3mo	$1,300,000	$342	42
301 Montauk Ave	0.65mi	8/3.0 (-1)	2,730	11mo	$985,000	$361	40
894 New Lots Ave	0.74mi	8/4.0 (-1)	2,600	10mo	$744,000	$286	39

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.48×
• Total profit: $101,360
• Equity at exit: $111,827

10-year hold

• IRR: 22.6%
• Equity multiple: 3.14×
• Total profit: $450,239
• Equity at exit: $64,846

Cash invested: $210,000 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 254
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $10,496 high
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,204
• Net cashflow: $3,109

Break-even live

Break-even rent $6,561

Max offer price $750,000

Occupancy floor 65%

Sensitivity live

Price	-10% $3,627	-5% $3,368	+0% $3,109	+5% $2,850	+10% $2,590
Rent	-10% $2,280	-5% $2,694	+0% $3,109	+5% $3,523	+10% $3,938
Rate	-1.0pp $3,486	-0.5pp $3,300	base $3,109	+0.5pp $2,914	+1.0pp $2,717

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$10,497
Total (3 units)			$10,496

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2023-07-11
   status Pending
2. 2023-04-10
   listed $750,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $125,952
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$3,750
• − Repairs & maintenance: −$10,076
• − Management: −$10,076
• − Depreciation: −$21,818
• Taxable income: $26,970
• Est. tax owed @ 24.0%: −$6,473
• After-tax cash flow: $30,832/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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 events — show timeline

• 2023-07-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-10 Listed $750,000 OneKey® MLS as Distributed by MLS Grid