9902 43rd Ave · New York, NY 11368

$1,875,000

12 bd · 4.0 ba · 3,684 sqft · MultiFamily public records · 5 Days on market

Built 1931 2,000 sqft lot Est $1801k · at est.

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Why this score? — see what drove the D 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 +9.5/30.0
• Appreciation +8.7/10.0
• ARV discount +5.7/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent condition , 4 family home in Corona, close to public transportation, shopping

Key facts

• 2,000 sq ft lot
• Built 1931
• Listed 5 days

Property features AI

Exterior

• Parking: No carport
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Quadruplex; Updated/remodeled condition
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront; No additional parcels

Interior

• Bedrooms: One 1-bedroom unit; Two 3-bedroom units; One 4-bedroom unit
• Bathrooms: Four full bathrooms (total)
• Heating & cooling: Oil heating; Steam heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $1.88M.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative. Per door: $-325/mo.
• To cash-flow at today's rent, offer at most $1.65M (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.34M (28.6% below list).
• Recommended offer: $1.34M (28.6% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Ps 110 (math 52% / reading 47%, grade D, #1,085 of 2,108 statewide, top 56%, 864 students, 92% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 244 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $13,386/mo this rent would consume 222% of the median local household income ($72k/yr) (locally 6817% 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 $152k of equity ($13k loan paydown + $139k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$243k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.
• Current owner paid $650k; list at $1.88M implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $1,338,600 (28.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.97%
• DSCR: 0.87
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $1,801,476
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9902 43rd Ave	0.00mi	11/4.0 (-1)	3,684 (0%)	1mo	$1,800,000	$489	94
108-73 53rd Ave	0.69mi	11/8.0 (-1)	3,935 (+7%)	13mo	$1,725,000	$438	26

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

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.18×
• Total profit: $617,728
• Equity at exit: $1,348,601

10-year hold

• IRR: 15.9%
• Equity multiple: 4.53×
• Total profit: $1,853,085
• Equity at exit: $2,607,654

Cash invested: $525,000 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 244
• Price-to-rent: 46.7×

Monthly cashflow live

• Estimated rent: $13,386 high
• Mortgage (P&I): −$9,833
• Tax from tax record: −$1,262 /mo · $15,145/yr
• Insurance: −$781
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,811
• Net cashflow: $-1,301

Break-even live

Break-even rent $15,033

Max offer price $1,645,152

Occupancy floor —

Sensitivity live

Price	-10% $-240	-5% $-770	+0% $-1,301	+5% $-1,832	+10% $-2,363
Rent	-10% $-2,359	-5% $-1,830	+0% $-1,301	+5% $-772	+10% $-244
Rate	-1.0pp $-357	-0.5pp $-824	base $-1,301	+0.5pp $-1,787	+1.0pp $-2,281

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$13,388
Total (4 units)			$13,386

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: $468,750
• Closing costs: $56,250
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-20
   status Pending
2. 2026-05-20
   status Active
3. 2026-03-16
   status Pending
4. 2026-03-16
   historical
5. 2026-03-09
   listed $1,875,000 Active
6. 2026-03-04
   historical
7. 2025-12-03
   listed $1,875,000 Active
8. 2008-07-08
   soldstatus $650,000
9. 2007-10-19
   soldstatus $530,000
10. 1987-04-14
    soldstatus $60,000

ⓘ 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: $15,145 · $1,262/mo
• Projected year-2 tax: $23,416 · $1,951/mo
• Expected delta: +$8,271/yr (+$689/mo · 54.6%)

ⓘ 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 27% 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: $160,632
• − Mortgage interest: −$105,029
• − Property taxes: −$15,145
• − Insurance: −$9,375
• − Repairs & maintenance: −$12,851
• − Management: −$12,851
• − Depreciation: −$54,545
• Taxable loss: −$49,164
• Est. tax savings @ 24.0%: +$11,799
• After-tax cash flow: $-3,814/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 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: ▲ 7.40%
• Current HPI: 282.8276
• 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

+3025.0% since first listed

10 events — show timeline

• 2026-05-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-09 Listed $1,875,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-03 Listed $1,875,000 OneKey® MLS as Distributed by MLS Grid
• 2008-07-08 Sold (Public Records) $650,000 Public Records
• 2007-10-19 Sold (Public Records) $530,000 Public Records
• 1987-04-14 Sold (Public Records) $60,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $15,145 · -1.0% YoY. Source: county tax records.