3819 Cypress Ave · New York, NY 11224

$949,000

6 bd · 3.0 ba · 2,293 sqft · MultiFamily public records · 75 Days on market

Built 1930 3,000 sqft lot Est $988k · at est.

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Why this score? — see what drove the A- 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 +9.3/10.0
• ARV discount +9.3/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to a fully detached three-family residence nestled in the exclusive, gated community of Seagate. Just moments from a private beach, this well-maintained property currently has 2 apartments occupied with short-term tenants. The top-floor apartment, 2 bedrooms, is vacant, offering excellent income potential. Whether you're seeking a savvy investment or a spacious home with income-producing units, this property checks all the boxes. Enjoy the charm of seaside living with the security and amenities of a private community—all while collecting steady rental income.

Key facts

• Gated community
• Fully detached
• Income potential

Tags

• FULLY DETACHED
• GATED COMMUNITY
• PRIVATE BEACH
• WELL-MAINTAINED
• INCOME POTENTIAL
• SEASIDE LIVING

Property features AI

Finance

• Other: Three residential units total; Total of 13 rooms across the property
• Financial info: Financing options include cash, bank mortgage, or exchange considered; Unit-level rents: Unit 1 (3BR) currently $2,200, projected $2,500; Unit 2 (2BR) currently $2,200, projected $2,500; Unit 3 (1BR) currently $1,900

Exterior

• Parking: Private drive; Space for 3 vehicles
• Utilities: 200 Amp electric service; Gas for hot water and heating
• Home design: Detached residential building; Pitched roof; Block foundation; Building footprint approximately 748 (units); Building dimensions about 34.00 x 22.00
• Construction: Block construction
• Exterior features: Back yard; Side yard; Aluminum siding

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Three-unit property with units configured as: one 3-bedroom, one 2-bedroom, and one 1-bedroom
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms total (each unit has one full bath)
• Heating & cooling: Steam/radiator heat; Gas hot water and heating; Two AC units
• Interior features: Deck; Refrigerator; Stove; Hardwood floors; Full basement
• Laundry & utility: Utility expense reported (approx. $400)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $949k.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $949k).
• Recommended offer: $892k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 (+7.0%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,581/mo this rent would consume 373% of the median local household income ($44k/yr) (locally 4426% 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 $54k of equity ($7k loan paydown + $47k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $266k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($892k) is reasonable based on typical stale-listing flexibility.
• 3 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 flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $892,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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: 1.43% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.62%
• DSCR: 1.92
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $988,283
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3735 Oceanic Ave	0.26mi	5/3.5 (-1)	2,053 (-10%)	1mo	$885,000	$431	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 3.13×
• Total profit: $565,863
• Equity at exit: $536,748

10-year hold

• IRR: 33.8%
• Equity multiple: 6.99×
• Total profit: $1,591,930
• Equity at exit: $925,498

Cash invested: $265,720 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $13,581 high
• Mortgage (P&I): −$4,977
• Tax from tax record: −$790 /mo · $9,484/yr
• Insurance: −$395
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,852
• Net cashflow: $4,567

Break-even live

Break-even rent $7,801

Max offer price $949,000

Occupancy floor 61%

Sensitivity live

Price	-10% $5,104	-5% $4,835	+0% $4,567	+5% $4,298	+10% $4,029
Rent	-10% $3,494	-5% $4,030	+0% $4,567	+5% $5,103	+10% $5,639
Rate	-1.0pp $5,044	-0.5pp $4,808	base $4,567	+0.5pp $4,321	+1.0pp $4,070

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$13,581
Total (3 units)			$13,581

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: $237,250
• Closing costs: $28,470
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $949,000 Active 75 DOM
2. 2026-06-18
   days on market $949,000 Active 72 DOM
3. 2026-06-17
   days on market $949,000 Active 71 DOM
4. 2026-06-15
   days on market $949,000 Active 69 DOM
5. 2026-06-13
   pricedays on market $949,000 Active 67 DOM
6. 2026-06-10
   days on market $998,000 Active 63 DOM
7. 2026-06-08
   days on market $998,000 Active 62 DOM
8. 2026-06-08
   days on market $998,000 Active 61 DOM
9. 2026-06-04
   days on market $998,000 Active 58 DOM
10. 2026-06-03
    days on market $998,000 Active 57 DOM
11. 2026-06-01
    days on market $998,000 Active 55 DOM
12. 2026-05-31
    days on market $998,000 Active 54 DOM
13. 2026-04-07
    listed $998,000 Active
14. 2025-07-09
    price $998,000
15. 2022-04-26
    price $1,100,000
16. 2022-03-21
    price $1,150,000
17. 2022-02-16
    price $1,175,000
18. 2020-06-30
    soldstatus $999,000
19. 2020-04-15
    soldstatus $635,000 Sold
20. 2016-03-18
    soldstatus $635,520
21. 2016-03-03
    historical
22. 2016-03-03
    status Pending
23. 2015-08-11
    price $700,000
24. 2015-06-10
    price $750,000
25. 2015-04-30
    listed $799,000 Active
26. 2012-05-15
    listed $298,000
27. 2007-02-02
    soldstatus $825,000
28. 2004-07-26
    soldstatus $450,500
29. 2003-08-28
    soldstatus $410,000
30. 1999-05-11
    soldstatus $390,000
31. 1999-05-11
    soldstatus $214,000
32. 1985-03-22
    soldstatus $84,500

ⓘ 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: $9,484 · $790/mo
• Projected year-2 tax: $12,761 · $1,063/mo
• Expected delta: +$3,277/yr (+$273/mo · 34.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $162,972
• − Mortgage interest: −$53,159
• − Property taxes: −$9,484
• − Insurance: −$4,745
• − Repairs & maintenance: −$13,038
• − Management: −$13,038
• − Depreciation: −$27,607
• Taxable income: $41,901
• Est. tax owed @ 24.0%: −$10,056
• After-tax cash flow: $44,743/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+1081.1% since first listed

20 events — show timeline

• 2026-04-07 Listed $998,000 BNYMLS
• 2025-07-09 Price Changed $998,000 BNYMLS
• 2022-04-26 Price Changed $1,100,000 BNYMLS
• 2022-03-21 Price Changed $1,150,000 BNYMLS
• 2022-02-16 Price Changed $1,175,000 BNYMLS
• 2020-06-30 Sold (Public Records) $999,000 Public Records
• 2020-04-15 Sold (MLS) $635,000 BNYMLS
• 2016-03-18 Sold (Public Records) $635,520 Public Records
• 2016-03-03 Delisted — BNYMLS
• 2016-03-03 Pending — BNYMLS
• 2015-08-11 Price Changed $700,000 BNYMLS
• 2015-06-10 Price Changed $750,000 BNYMLS
• 2015-04-30 Listed $799,000 BNYMLS
• 2012-05-15 Listed $298,000 BNYMLS
• 2007-02-02 Sold (Public Records) $825,000 Public Records
• 2004-07-26 Sold (Public Records) $450,500 Public Records
• 2003-08-28 Sold (Public Records) $410,000 Public Records
• 1999-05-11 Sold (Public Records) $214,000 Public Records
• 1999-05-11 Sold (Public Records) $390,000 Public Records
• 1985-03-22 Sold (Public Records) $84,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $9,484 · -1.7% YoY. Source: county tax records.