94 Gary Pl · New York, NY 10314

$925,000

6 bd · 7.0 ba · 2,192 sqft · MultiFamily public records · 223 Days on market

Built 1975 2,900 sqft lot Est $886k · 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 +12.6/30.0
• ARV discount +5.5/15.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.8/10.0
• 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 MLS

Very Lovely,Large 3 Bedroom 2 Family Semi with Studio Rental. Hardwood Floors throughout, New bathroom in MBR. Den,Basement, Garage, Great Yard and much more. Beautiful Home. Studio Rental with New Kitchen & Bath, Dishwasher & Microwave. Must See. Level 1: LARGE DEN WITH SLIDERS TO YARD, 1/2 BATH, LARGE 2 ROOM STUDIO APT. Level 2: LR/DR COMBO, EIK, MBR W/ 3/4 BATH, BR, BR, MAIN BATH Basement: FULL UNFINISHED, WASHER/DRYER

Key facts

• Newer kitchen
• Near shopping
• 2 driveways

Tags

• NEWER KITCHEN
• 2 DRIVEWAYS
• NEAR TRANSPORTATION
• NEAR SHOPPING

Property features AI

Exterior

• Parking: Attached garage (1 garage space); Off-street parking
• Utilities: 220 volt electric
• Home design: Multi-family property with 2 total units; 2-story building; Zoned R3-1
• Construction: Stone and vinyl siding exterior; Approximately built (year not specified); Property in excellent condition
• Exterior features: Lot dimensions approximately 29 x 100; 0.07 acre lot

Interior

• Bedrooms: Unit 1: 3 bedrooms (level 1); Unit 2: bedrooms not specified
• Bathrooms: Total of 4 bathrooms: 1 full, 2 three-quarter, 1 half; Unit 1: 2 baths; Unit 2: bath count not specified
• Heating & cooling: Natural gas heating; Forced air heating; Has heating; Has cooling
• Interior features: Central air conditioning; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.5-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative. Per door: $-58/mo.
• To cash-flow at today's rent, offer at most $904k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $724k (21.8% below list).
• Recommended offer: $724k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Rents rising (+3.9%/yr); 487 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $7,237/mo this rent would consume 83% of the median local household income ($105k/yr) (locally 2168% 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 $28k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($814k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $485k; list at $925k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 51% 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 $723,700 (21.8% 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. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
11. 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.
12. 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.
13. 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: 0.78% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $885,568
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Bleeker Pl	0.14mi	5/5.5 (-1)	2,259 (+3%)	2mo	$965,000	$427	76
47 Grissom Ave	0.44mi	5/4.5 (-1)	2,322 (+6%)	2mo	$918,000	$395	53
57 Sleepy Hollow Rd	0.30mi	5/3.0 (-1)	2,375 (+8%)	5mo	$990,000	$417	48
16 Knapp St	0.32mi	5/3.5 (-1)	2,352 (+7%)	7mo	$950,000	$404	48
72 Carpenter Ave	0.50mi	5/2.0 (-1)	2,516 (+15%)	12mo	$815,000	$324	22

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 · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-150,739
• Equity at exit: $137,921

10-year hold

• IRR: -6.6%
• Equity multiple: 0.56×
• Total profit: $-113,223
• Equity at exit: $79,977

Cash invested: $259,000 (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 10314

• Rents YoY: 3.9%
• Active inventory: 487
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $7,237 medium
• Mortgage (P&I): −$4,851
• Tax from tax record: −$598 /mo · $7,176/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,520
• Net cashflow: $-117

Break-even live

Break-even rent $7,385

Max offer price $904,338

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3.5	$7,236
Total (2 units)			$7,237

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-13
   status Pending
2. 2026-01-10
   price $925,000
3. 2025-10-02
   listed $950,000 Active
4. 2008-06-17
   soldstatus $485,000
5. 2008-06-06
   soldstatus $485,000 433-char remark

   Show marketing remark (433 chars)

   Very Lovely,Large 3 Bedroom 2 Family Semi with Studio Rental. Hardwood Floors throughout, New bathroom in MBR. Den,Basement, Garage, Great Yard and much more. Beautiful Home. Studio Rental with New Kitchen & Bath, Dishwasher & Microwave. Must See. Level 1: LARGE DEN WITH SLIDERS TO YARD, 1/2 BATH, LARGE 2 ROOM STUDIO APT. Level 2: LR/DR COMBO, EIK, MBR W/ 3/4 BATH, BR, BR, MAIN BATH Basement: FULL UNFINISHED, WASHER/DRYER

6. 2008-01-07
   listed $499,900 433-char remark

   Show marketing remark (433 chars)

   Very Lovely,Large 3 Bedroom 2 Family Semi with Studio Rental. Hardwood Floors throughout, New bathroom in MBR. Den,Basement, Garage, Great Yard and much more. Beautiful Home. Studio Rental with New Kitchen & Bath, Dishwasher & Microwave. Must See. Level 1: LARGE DEN WITH SLIDERS TO YARD, 1/2 BATH, LARGE 2 ROOM STUDIO APT. Level 2: LR/DR COMBO, EIK, MBR W/ 3/4 BATH, BR, BR, MAIN BATH Basement: FULL UNFINISHED, WASHER/DRYER

7. 2005-01-25
   soldstatus $450,000

ⓘ 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: $7,176 · $598/mo
• Projected year-2 tax: $11,404 · $950/mo
• Expected delta: +$4,228/yr (+$352/mo · 58.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $86,844
• − Mortgage interest: −$51,814
• − Property taxes: −$7,176
• − Insurance: −$4,625
• − Repairs & maintenance: −$6,948
• − Management: −$6,948
• − Depreciation: −$26,909
• Taxable loss: −$17,575
• Est. tax savings @ 24.0%: +$4,218
• After-tax cash flow: $2,814/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 93,915
• Household income: $104,613
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 2168.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Asian 19% Hispanic / Latino 15% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 9% Chinese 7% Other Indo-European 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -553.73%
• Current HPI: 378.3872
• Rent YoY: ▲ 3.93%
• 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

+105.6% since first listed

7 events — show timeline

• 2026-05-13 Pending — SIBORMLS
• 2026-01-10 Price Changed $925,000 SIBORMLS
• 2025-10-02 Listed $950,000 SIBORMLS
• 2008-06-17 Sold (Public Records) $485,000 Public Records
• 2008-06-06 Sold (MLS) $485,000 SIBORMLS
• 2008-01-07 Listed $499,900 SIBORMLS
• 2005-01-25 Sold (Public Records) $450,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $7,176 · +0.2% YoY. Source: county tax records.