187 Beach 59th St · New York, NY 11692

$750,000

4 bd · 3.0 ba · 2,052 sqft · MultiFamily public records · 31 Days on market

Built 2000 2,387 sqft lot Est $753k · at est.

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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 +17.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.7/15.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Well-maintained 2-family home offering separate living spaces with access to the backyard. The 1st floor features 2 bedrooms, 1 full bath, kitchen, living room, dining room, oven, refrigerator, and garage access. The 2nd floor offers 3 bedrooms, 2 full baths, kitchen, living room, dining room, oven, refrigerator, balcony, and backyard access. Conveniently located near the A train, S shuttle, Q52-SBS, Q22, RES Rockaway East, and QM17 express bus lines.

Key facts

• Backyard access
• Balcony
• 2,387 sq ft lot

Tags

• SEPARATE LIVING SPACES
• BACKYARD ACCESS
• BALCONY

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Garage (1 space); Total parking for 1 vehicle
• Utilities: Public sewer; Electricity available; Other utilities: see remarks
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Natural gas heating; No central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive. Per door: $223/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 $656k (12.5% below list).
• Recommended offer: $656k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: 80 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,565/mo this rent would consume 158% of the median local household income ($50k/yr) (locally 1734% 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 $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($728k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 77% 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 $656,500 (12.5% below list)

Questions for the listing agent

1. It's been on market 31 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.93%
• DSCR: 1.13
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $753,084
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
193 Beach 59th St	0.01mi	5/3.0 (+1)	2,052 (0%)	6mo	$710,000	$346	89
6235 Burchell Rd	0.37mi	5/3.0 (+1)	2,000 (-2%)	5mo	$867,347	$434	69
609 Beach 63rd St	0.45mi	5/2.0 (+1)	2,068 (+1%)	7mo	$565,000	$273	63
6523 Seaspray Ave	0.36mi	4/3.0	2,258 (+10%)	8mo	$1,170,000	$518	60
65-05 Beach Channel Dr	0.29mi	5/2.0 (+1)	2,024 (-1%)	21mo	$700,000	$346	58
69-43 Thursby Ave	0.61mi	5/2.0 (+1)	2,068 (+1%)	11mo	$810,000	$392	52
618 Beach 67th St	0.56mi	4/2.0	1,946 (-5%)	12mo	$715,000	$367	51
345 Beach 73rd St	0.67mi	5/2.0 (+1)	1,926 (-6%)	13mo	$550,000	$286	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 3.08×
• Total profit: $436,747
• Equity at exit: $675,659

10-year hold

• IRR: 22.9%
• Equity multiple: 7.02×
• Total profit: $1,263,429
• Equity at exit: $1,457,085

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 11692

• Home prices YoY: 14.4%
• Active inventory: 80
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $6,565 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$428 /mo · $5,131/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,379
• Net cashflow: $447

Break-even live

Break-even rent $6,000

Max offer price $750,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,566
Total (2 units)			$6,565

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	24d	1	0.58mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	24d	1	0.63mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	24d	1	0.79mi
8-27 Hartman Ln Unit 1ST Far Rockaway, NY	3.0	1.5	2937	$3,250	$1.11	21d	1	1.40mi

Listing history 10 events

1. 2026-06-17
   statusdays on market $750,000 Pending 31 DOM
2. 2026-06-10
   days on market $750,000 Active 28 DOM
3. 2026-06-08
   days on market $750,000 Active 27 DOM
4. 2026-06-08
   days on market $750,000 Active 26 DOM
5. 2026-06-04
   days on market $750,000 Active 23 DOM
6. 2026-06-03
   days on market $750,000 Active 22 DOM
7. 2026-06-02
   days on market $750,000 Active 21 DOM
8. 2026-06-01
   days on market $750,000 Active 20 DOM
9. 2026-05-31
   days on market $750,000 Active 19 DOM
10. 2026-05-12
    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.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,131 · $428/mo
• Projected year-2 tax: $8,903 · $742/mo
• Expected delta: +$3,772/yr (+$314/mo · 73.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,780
• − Mortgage interest: −$42,012
• − Property taxes: −$5,131
• − Insurance: −$4,548
• − Repairs & maintenance: −$6,302
• − Management: −$6,302
• − Depreciation: −$21,818
• Taxable loss: −$7,334
• Est. tax savings @ 24.0%: +$1,760
• After-tax cash flow: $7,120/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: Queens County · 1,914,869 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,734
• Household income: $49,720
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1734.0

Population outlook (Queens County) Hauer SSP2

• Today (2025): 2,546,320 people
• By 2030: 2,643,059 · +3.8%
• By 2040: 2,815,563 · +10.6%
• By 2050: 2,944,423 · +15.6%
• By 2075: 3,123,338 · +22.7%
• By 2100: 3,098,688 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 53% Hispanic / Latino 24% Two or more races 15% White 13% Asian 6%
• Hispanic origin (detail): Puerto Rican 10% Dominican 5%
• Common ancestry: Romanian 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Queens

• 2024 margin: Strong D (+24.6) · D 62.3% · R 37.7%
• 2008→2024 swing: -26.2pp toward R · 2008: 50.8pp · 2024: 24.6pp
• All cycles: 2024: D+24.6 2020: D+45.2 2016: D+53.4 2012: D+58.5 2008: D+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.49%
• Current HPI: 354.2007
• Rent YoY: —
• 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

• 2026-05-12 Listed $750,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+19.8%/yr

Latest (2025): $5,131 · -2.4% YoY. Source: county tax records.