958 Crescent St · New York, NY 11208

$815,000

8 bd · 4.4 ba · 2,600 sqft · MultiFamily public records · 113 Days on market

Built 1920 4,000 sqft lot Est $980k · 17% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• 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: 2 units. confirmed

Listing remarks

958 Crescent Street Oversized Corner Lot 3 Units 4,000 Buildable Sq Ft Parking for 2 Cars Sitting proudly on a sprawling 40 x 100 corner lot, 958 Crescent Street presents a rare opportunity to reimagine and maximize a substantial Brooklyn property with approximately 4,000 square feet of buildable potential. The existing structure spans 20 x 65 and is currently built out to roughly 2,600 square feet, offering significant upside for expansion and redevelopment. This three-unit home is ideal for investors, developers, or end-users looking to create a custom multi-generational residence or high-yield income property. Current Configuration Owner's Duplex + Basement Main level: 3.5 bed

Key facts

• Oversized corner lot
• Corner exposure
• Gated entry

Tags

• OVERSIZED CORNER LOT
• PARKING FOR 2 CARS
• MASSIVE WRAPAROUND YARD
• GATED ENTRY
• CORNER EXPOSURE

Property features AI

Finance

• Other: Property listed by Corcoran Group

Exterior

• Parking: Has garage
• Home design: 2-story building; Entry level on first floor; Green building
• Exterior features: Private outdoor space (over 60 sqft); Lot approximately 4,000 sq ft (100 x 40)

Interior

• Bedrooms: Total of 3 dwelling units (multi-unit property)
• Bathrooms: 4 full bathrooms; 1 half bathroom
• Interior features: Smoke-free property; Basement (other type)
• Laundry & utility: In-unit washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $815k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $565/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $793k (2.7% below list).
• Recommended offer: $742k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,933/mo this rent would consume 153% of the median local household income ($62k/yr) (locally 7574% 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 $6k of loan paydown is wiped out by about $24k 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 + 6.1% rent growth), your $228k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($742k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $741,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.97% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $980,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
894 New Lots Ave	0.63mi	8/4.0	2,600 (0%)	10mo	$744,000	$286	60
306 Sheridan Ave	0.72mi	8/5.0	2,652 (+2%)	19mo	$1,000,000	$377	45
301 Montauk Ave	0.71mi	8/3.0	2,730 (+5%)	11mo	$985,000	$361	44
304 Sheridan Ave	0.73mi	7/5.0 (-1)	2,340 (-10%)	19mo	$1,100,000	$470	26

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-34,391
• Equity at exit: $121,519

10-year hold

• IRR: 8.8%
• Equity multiple: 1.77×
• Total profit: $175,176
• Equity at exit: $70,466

Cash invested: $228,200 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $7,933 high
• Mortgage (P&I): −$4,274
• Tax from tax record: −$456 /mo · $5,478/yr
• Insurance: −$340
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,666
• Net cashflow: $1,131

Break-even live

Break-even rent $6,502

Max offer price $815,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,592	-5% $1,361	+0% $1,131	+5% $900	+10% $669
Rent	-10% $504	-5% $817	+0% $1,131	+5% $1,444	+10% $1,757
Rate	-1.0pp $1,541	-0.5pp $1,338	base $1,131	+0.5pp $919	+1.0pp $705

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$7,934
Total (2 units)			$7,933

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: $203,750
• Closing costs: $24,450
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $815,000 Active 113 DOM
2. 2026-06-18
   days on market $815,000 Active 110 DOM
3. 2026-06-17
   days on market $815,000 Active 109 DOM
4. 2026-06-15
   days on market $815,000 Active 107 DOM
5. 2026-06-13
   days on market $815,000 Active 105 DOM
6. 2026-06-10
   days on market $815,000 Active 101 DOM
7. 2026-06-08
   days on market $815,000 Active 100 DOM
8. 2026-06-08
   days on market $815,000 Active 99 DOM
9. 2026-06-04
   days on market $815,000 Active 96 DOM
10. 2026-06-03
    days on market $815,000 Active 95 DOM
11. 2026-06-01
    days on market $815,000 Active 93 DOM
12. 2026-05-31
    days on market $815,000 Active 92 DOM
13. 2026-02-28
    listed $815,000 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: $5,478 · $456/mo
• Projected year-2 tax: $9,626 · $802/mo
• Expected delta: +$4,148/yr (+$346/mo · 75.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 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: $95,196
• − Mortgage interest: −$45,653
• − Property taxes: −$5,478
• − Insurance: −$4,872
• − Repairs & maintenance: −$7,616
• − Management: −$7,616
• − Depreciation: −$23,709
• Taxable income: $253
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $13,507/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

1 event — show timeline

• 2026-02-28 Listed $815,000 RLS at REBNY

Property tax history

+5.4%/yr

Latest (2025): $5,478 · -1.5% YoY. Source: county tax records.