1316 33rd Ave · New York, NY 11106

$1,420,000

6 bd · 2.0 ba · 2,262 sqft · MultiFamily public records · 369 Days on market

Built 1996 1,256 sqft lot Est $1493k · at est.

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Why this score? — see what drove the B- 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 +23.3/30.0
• ARV discount +9.7/15.0
• DSCR +7.5/10.0
• Appreciation +6.0/10.0
• 1% rule +5.0/10.0
• 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: 2 units. confirmed

Listing remarks

This 2 Family Style Home Features 6 Bedrooms, 2 Full Baths, 2 Kitchens. The information provided is estimated to the best of our abilities at this time.

Key facts

• 1,256 sq ft lot
• Built 1996
• Listed 368 days

Property features AI

Finance

• HOA & community: HOA fee of $720 per month (described as HOA); Association amenities: other

Exterior

• Parking: No carport
• Utilities: Sewer: other; Utilities: see remarks
• Home design: Townhouse; Duplex
• Construction: Brick construction
• Exterior features: Near public transit; Near shops; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two 3-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating (natural gas); No central cooling
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $1.42M.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.42M).
• Recommended offer: $1.25M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Market conditions: Rents rising fast (+7.3%/yr); 109 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $14,251/mo this rent would consume 202% of the median local household income ($85k/yr) (locally 3679% 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 $39k of equity ($10k loan paydown + $29k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 7.3% rent growth), your $398k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$99k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 369 days — a 12% lower offer ($1.25M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $308k; list at $1.42M implies a 362% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,249,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 369 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.00% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $1,492,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23-19 33rd Ave	0.27mi	6/3.0	2,100 (-7%)	10mo	$1,385,000	$660	63

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

Projected returns pro-forma

2.06% appreciation · 7.28% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.83×
• Total profit: $331,767
• Equity at exit: $565,028

10-year hold

• IRR: 19.7%
• Equity multiple: 3.90×
• Total profit: $1,151,713
• Equity at exit: $817,463

Cash invested: $397,600 (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 11106

• Home prices YoY: 0.6%
• Rents YoY: 7.3%
• Active inventory: 109
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $14,251 high
• Mortgage (P&I): −$7,447
• Tax from tax record: −$610 /mo · $7,316/yr
• Insurance: −$592
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,993
• Net cashflow: $2,610

Break-even live

Break-even rent $10,947

Max offer price $1,420,000

Occupancy floor 77%

Sensitivity live

Price	-10% $3,414	-5% $3,012	+0% $2,610	+5% $2,208	+10% $1,806
Rent	-10% $1,484	-5% $2,047	+0% $2,610	+5% $3,173	+10% $3,736
Rate	-1.0pp $3,325	-0.5pp $2,971	base $2,610	+0.5pp $2,242	+1.0pp $1,868

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$14,252
Total (2 units)			$14,251

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: $355,000
• Closing costs: $42,600
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $1,420,000 Active 369 DOM
2. 2026-06-18
   days on market $1,420,000 Active 366 DOM
3. 2026-06-17
   days on market $1,420,000 Active 365 DOM
4. 2026-06-15
   days on market $1,420,000 Active 363 DOM
5. 2026-06-13
   days on market $1,420,000 Active 361 DOM
6. 2026-06-10
   days on market $1,420,000 Active 357 DOM
7. 2026-06-08
   days on market $1,420,000 Active 356 DOM
8. 2026-06-03
   days on market $1,420,000 Active 351 DOM
9. 2026-06-01
   days on market $1,420,000 Active 349 DOM
10. 2026-05-31
    days on market $1,420,000 Active 348 DOM
11. 2025-06-17
    listed $1,420,000 Active
12. 1997-05-27
    soldstatus $307,500

ⓘ 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: $7,316 · $610/mo
• Projected year-2 tax: $15,657 · $1,305/mo
• Expected delta: +$8,341/yr (+$695/mo · 114.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $171,012
• − Mortgage interest: −$79,542
• − Property taxes: −$7,316
• − Insurance: −$7,100
• − Repairs & maintenance: −$13,681
• − Management: −$13,681
• − Depreciation: −$41,309
• Taxable income: $8,383
• Est. tax owed @ 24.0%: −$2,012
• After-tax cash flow: $29,312/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): 40,930
• Household income: $84,867
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 3679.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 42% Hispanic / Latino 27% Asian 19% Two or more races 12% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 4%
• Common ancestry: Scotch-Irish 3% Romanian 3% Estonian 2%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 22% Other Indo-European 13% Russian/Polish/Slavic 4%

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: ▲ 2.06%
• Current HPI: 348.3009
• Rent YoY: ▲ 7.28%
• 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

+361.8% since first listed

2 events — show timeline

• 2025-06-17 Listed $1,420,000 OneKey® MLS as Distributed by MLS Grid
• 1997-05-27 Sold (Public Records) $307,500 Public Records

Property tax history

+13.9%/yr

Latest (2025): $7,316 · +1.2% YoY. Source: county tax records.