57-20 Penrod St · New York, NY 11368

$667,800

4 bd · 2.0 ba · 1,616 sqft · MultiFamily public records · 30 Days on market

Built 1910 2,017 sqft lot Est $1071k · 38% 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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• Appreciation +8.7/10.0
• Schools +5.0/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• 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

2 family, 4-bedroom 2-bathroom duplex in heart of Flushing. Duplex located blocks from Zoo, Citi Field, Armstrong Stadium, Flushing Meadows-Corona Park and quick ride to LaGuardia Airport. Please view with caution damaged flooring, debris, wall and siding damage and exposed insulation and wires have been reported. It will need repairs but has so much potential. Property Make it your own. Jump on this great deal before it’s gone! All buyers are responsible to confirm City, County, Zoning, Tax, and other records to their satisfaction before bidding. No inspection contingencies in contract. Absolutely no repairs before closing. This property is sold As-Is. This is a REO auction property.

Key facts

• 2,017 sq ft lot
• Built 1910
• Listed 29 days

Property features AI

Exterior

• Parking: No carport; No designated parking features listed
• Utilities: Public sewer; Other utilities — see remarks
• Home design: Duplex; Total building area approximately 1664 total square feet (per appraiser)
• Construction: Construction materials listed as other; Foundation listed as other
• Exterior features: No waterfront; Construction materials: other; Foundation: other

Interior

• Bedrooms: Two 2-bedroom units (multi-unit duplex)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Other heating (unspecified)
• Interior features: Finished full basement; Other interior features (unspecified)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $668k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive. Per door: $90/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 $571k (14.5% below list).
• Recommended offer: $571k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: 243 active listings in the ZIP; 10 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 $5,708/mo this rent would consume 95% 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 $54k of equity ($5k loan paydown + $49k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $187k cash investment doubles in ~4 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 30 days — a 2% lower offer ($658k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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.
• Current owner paid $300k; list at $668k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $570,800 (14.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $1,071,408
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101-08/06 Christie Ave	0.28mi	4/2.0	1,788 (+11%)	3mo	$1,200,000	$671	66
102-56 46th Ave	0.50mi	3/2.0 (-1)	1,440 (-11%)	4mo	$810,000	$563	50
109-07 46 Ave	0.59mi	4/2.0	1,728 (+7%)	14mo	$1,145,000	$663	50

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: 19.5%
• Equity multiple: 2.40×
• Total profit: $261,031
• Equity at exit: $480,318

10-year hold

• IRR: 18.4%
• Equity multiple: 5.00×
• Total profit: $748,746
• Equity at exit: $928,742

Cash invested: $186,984 (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: 243
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $5,708 high
• Mortgage (P&I): −$3,502
• Tax from tax record: −$550 /mo · $6,595/yr
• Insurance: −$278
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,199
• Net cashflow: $179

Break-even live

Break-even rent $5,481

Max offer price $667,800

Occupancy floor 92%

Sensitivity live

Price	-10% $557	-5% $368	+0% $179	+5% $-10	+10% $-199
Rent	-10% $-271	-5% $-46	+0% $179	+5% $405	+10% $630
Rate	-1.0pp $516	-0.5pp $349	base $179	+0.5pp $6	+1.0pp $-170

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,708
Total (2 units)			$5,708

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: $166,950
• Closing costs: $20,034
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94-30 60th Ave Apt 1H Queens, NY	3.0	1.5	1200	$3,200	$2.67	25d	1	0.58mi
9209 43rd Ave Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	25d	1	0.89mi
91-04 43rd Ave Unit 2ND Elmhurst, NY	3.0	1.0	1100	$3,600	$3.27	25d	1	0.93mi
40-24 Aske St Unit 2FL Flushing, NY	3.0	2.0	2024	$3,450	$1.70	0d	1	1.02mi
40-85 Denman St Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	20d	1	1.07mi
58-28 84th St Unit 2 Flushing, NY	3.0	2.0	1200	$3,650	$3.04	25d	1	1.31mi
58-14 84th St Unit 2 Flushing, NY	3.0	2.0	1200	$3,650	$3.04	25d	1	1.32mi
6525 Alderton St Rego Park, NY	3.0	2.5	1782	$4,500	$2.53	25d	1	1.34mi
13225 58th Ave Flushing, NY	3.0	3.0	1300	$3,500	$2.69	5d	1	1.36mi
6543 Alderton St Rego Park, NY	3.0	1.5	1782	$4,800	$2.69	25d	1	1.37mi

Listing history 24 events

1. 2026-06-18
   days on market $667,800 Active 30 DOM
2. 2026-06-17
   days on market $667,800 Active 29 DOM
3. 2026-06-16
   days on market $667,800 Active 28 DOM
4. 2026-06-15
   days on market $667,800 Active 27 DOM
5. 2026-06-13
   days on market $667,800 Active 25 DOM
6. 2026-06-10
   days on market $667,800 Active 21 DOM
7. 2026-06-08
   days on market $667,800 Active 20 DOM
8. 2026-06-08
   days on market $667,800 Active 19 DOM
9. 2026-06-04
   days on market $667,800 Active 16 DOM
10. 2026-06-03
    days on market $667,800 Active 15 DOM
11. 2026-06-02
    days on market $667,800 Active 14 DOM
12. 2026-06-01
    days on market $667,800 Active 13 DOM
13. 2026-05-31
    days on market $667,800 Active 12 DOM
14. 2026-05-19
    listed $667,800 Active
15. 2020-06-05
    historical
16. 2019-08-15
    listed $899,000 New
17. 2019-01-05
    historical
18. 2019-01-05
    historical
19. 2018-10-01
    price $825,000
20. 2018-09-06
    listed $400,000 New
21. 2018-09-06
    listed $825,000 New
22. 2004-09-29
    soldstatus $300,000
23. 2003-07-16
    soldstatus $246,500
24. 1999-11-29
    soldstatus $113,500

ⓘ 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: $6,595 · $550/mo
• Projected year-2 tax: $8,940 · $745/mo
• Expected delta: +$2,345/yr (+$195/mo · 35.6%)

ⓘ 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: $68,496
• − Mortgage interest: −$37,407
• − Property taxes: −$6,595
• − Insurance: −$3,339
• − Repairs & maintenance: −$5,480
• − Management: −$5,480
• − Depreciation: −$19,427
• Taxable loss: −$9,231
• Est. tax savings @ 24.0%: +$2,216
• After-tax cash flow: $4,369/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

+488.4% since first listed

11 events — show timeline

• 2026-05-19 Listed $667,800 OneKey® MLS as Distributed by MLS Grid
• 2020-06-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-08-15 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-01-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-10-01 Price Changed $825,000 OneKey® MLS as Distributed by MLS Grid
• 2018-09-06 Listed $825,000 OneKey® MLS as Distributed by MLS Grid
• 2018-09-06 Listed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2004-09-29 Sold (Public Records) $300,000 Public Records
• 2003-07-16 Sold (Public Records) $246,500 Public Records
• 1999-11-29 Sold (Public Records) $113,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $6,595 · +0.8% YoY. Source: county tax records.