104-61 Roosevelt Ave · New York, NY 11368

$1,499,999

8 bd · 4.0 ba · 2,184 sqft · MultiFamily public records · 159 Days on market

Built 1931 3,124 sqft lot Est $1247k · 20% over

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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
• 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
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Rare OPPORTUNITY !!! FOUR Family , Currently Zoning is "R6B " with a C1- 4 Overlay --Lot size 25 X 125, --Half block to #7 train, --Prime Wall to All Location on Roosevelt Ave in Corona. This property offers incredible potential, allowing for up to 9,200 sq. ft. of mixed-use development, ideal for both commercial and residential condos. Don't miss this chance to capitalize on a high-demand area! -1st floor-Living room / FOUR Bedroom / Kitchen / Bathroom -2nd floor-Apt#1 Living room / 2 bedrooms/ Kitchen/bathroom , Apt # 2 Living room/ bedrm/bath -3rd floor- Living Room / 2 Bedrooms / Eat-in- Kitchen / Bathroom - Full Finished Basement, Additional information: Separate Hotwater

Key facts

• 3,124 sq ft lot
• Built 1931
• Listed 159 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-264/mo.
• To cash-flow at today's rent, offer at most $1.31M (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.06M (29.3% below list).
• Recommended offer: $1.06M (29.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,605/mo this rent would consume 176% 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 $121k of equity ($10k loan paydown + $111k 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 ~$194k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $210k; list at $1.50M implies a 614% 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 $1,060,500 (29.3% 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 159 days. Have you received any prior offers? Is the seller open to a 29% 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 1931 — 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: 0.71% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.02%
• DSCR: 0.87
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $1,247,064
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104-65 42 Ave	0.10mi	7/4.0 (-1)	2,313 (+6%)	6mo	$1,775,000	$767	76
10205 46th Ave	0.35mi	8/5.0	2,070 (-5%)	3mo	$1,183,000	$571	69
102-14 Corona Ave	0.47mi	8/3.0	2,188 (+0%)	7mo	$730,000	$334	68
3758 100th St	0.36mi	7/5.0 (-1)	2,229 (+2%)	8mo	$1,450,000	$651	64
102-33 46th Ave	0.31mi	8/3.0	2,310 (+6%)	13mo	$1,400,000	$606	60
11149 41st Ave	0.31mi	7/2.0 (-1)	2,060 (-6%)	5mo	$1,080,000	$524	59
10413 Martense Ave	0.68mi	7/3.0 (-1)	1,940 (-11%)	9mo	$996,400	$514	33

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: 2.17×
• Total profit: $493,206
• Equity at exit: $1,078,880

10-year hold

• IRR: 15.8%
• Equity multiple: 4.52×
• Total profit: $1,480,241
• Equity at exit: $2,086,122

Cash invested: $420,000 (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: 243
• Price-to-rent: 47.1×

Monthly cashflow live

• Estimated rent: $10,605 high
• Mortgage (P&I): −$7,866
• Tax from tax record: −$942 /mo · $11,308/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,227
• Net cashflow: $-1,056

Break-even live

Break-even rent $11,941

Max offer price $1,313,532

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,604
Total (4 units)			$10,605

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: $375,000
• Closing costs: $45,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-03-29
   status Pending
2. 2024-10-17
   listed $1,499,999 Active
3. 1996-05-01
   soldstatus $210,000

ⓘ 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: $11,308 · $942/mo
• Projected year-2 tax: $18,329 · $1,527/mo
• Expected delta: +$7,021/yr (+$585/mo · 62.1%)

ⓘ 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $127,260
• − Mortgage interest: −$84,023
• − Property taxes: −$11,308
• − Insurance: −$7,500
• − Repairs & maintenance: −$10,181
• − Management: −$10,181
• − Depreciation: −$43,636
• Taxable loss: −$39,569
• Est. tax savings @ 24.0%: +$9,497
• After-tax cash flow: $-3,170/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

+614.3% since first listed

3 events — show timeline

• 2025-03-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-17 Listed $1,499,999 OneKey® MLS as Distributed by MLS Grid
• 1996-05-01 Sold (Public Records) $210,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $11,308 · -1.0% YoY. Source: county tax records.