14024 184th St · New York, NY 11413

$775,000

4 bd · 3.0 ba · 1,800 sqft · MultiFamily public records · 70 Days on market

Built 1950 2,538 sqft lot Est $889k · 13% under

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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 +14.6/30.0
• ARV discount +13.3/15.0
• Schools +5.0/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• 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

Welcome to 140-24 & 140-26 184th Street in Springfield Gardens, a fully renovated (2017) two-family home offering 1,800 sq. ft. of living space on a 2,500 sq. ft. mid-block lot. This fully attached property features two spacious 2-bedroom, 1-bath units with updated kitchens, comfortable living areas, and a finished basement with a separate entrance, offering additional recreational space. Located near transportation, major highways, parks, and local amenities, this home provides a perfect blend of convenience and value. Subject to E & O.

Key facts

• Fully renovated
• Separate entrance
• Finished basement

Tags

• FULLY RENOVATED
• UPDATED KITCHENS
• FINISHED BASEMENT
• SEPARATE ENTRANCE
• NEAR TRANSPORTATION
• MAJOR HIGHWAYS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive. Per door: $96/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 $651k (16.0% below list).
• Recommended offer: $651k (16.0% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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: 197 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $230k; list at $775k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $650,700 (16.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 16% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $889,200
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14019 183rd St	0.02mi	4/2.0	1,800 (0%)	2mo	$790,000	$439	94
172-18 144th Rd	0.45mi	4/2.0	1,943 (+8%)	14mo	$933,000	$480	50
22039 136th Ave	0.65mi	3/2.0 (-1)	1,650 (-8%)	1mo	$940,000	$570	46
221-20 137th Ave	0.62mi	4/2.0	1,544 (-14%)	2mo	$850,000	$551	42
14003 161st St	0.74mi	5/3.0 (+1)	2,016 (+12%)	7mo	$995,000	$494	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-113,559
• Equity at exit: $115,555

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-83,822
• Equity at exit: $67,008

Cash invested: $217,000 (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 11413

• Active inventory: 197
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $6,507 high
• Mortgage (P&I): −$4,064
• Tax from tax record: −$562 /mo · $6,747/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,366
• Net cashflow: $191

Break-even live

Break-even rent $6,265

Max offer price $775,000

Occupancy floor 92%

Sensitivity live

Price	-10% $630	-5% $411	+0% $191	+5% $-28	+10% $-248
Rent	-10% $-323	-5% $-66	+0% $191	+5% $448	+10% $705
Rate	-1.0pp $581	-0.5pp $388	base $191	+0.5pp $-10	+1.0pp $-214

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,506
Total (2 units)			$6,507

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18021 140th Ave Jamaica, NY	3.0	2.0	2102	$3,800	$1.81	26d	1	0.16mi
13719 Southgate St Springfield Gardens, NY	3.0	1.0	1672	$3,400	$2.03	26d	1	0.19mi
176-34 133rd Ave Unit 2nd Floor Jamaica, NY	4.0	2.0	2244	$3,500	$1.56	26d	1	0.42mi
138-26 223rd St #1 Jamaica, NY	4.0	1.0	2085	$4,000	$1.92	26d	1	0.50mi
179-12 145th Ave Unit 1 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	4d	1	0.52mi
179-12 145th Ave Unit 2 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	26d	1	0.52mi
17845 145th Rd Jamaica, NY	3.0	1.0	2262	$3,150	$1.39	26d	1	0.55mi
144-35 224th St Unit First Floor Jamaica, NY	3.0	2.0	1970	$3,800	$1.93	26d	1	0.63mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	16d	1	0.64mi
14547 224th St Springfield Gardens, NY	3.0	1.0	1880	$3,500	$1.86	26d	1	0.74mi
228-20 Edgewood Ave Unit A Jamaica, NY	3.0	2.0	2208	$3,200	$1.45	26d	1	0.75mi
13724 228th St Laurelton, NY	3.0	1.0	2478	$3,800	$1.53	26d	1	0.80mi
14578 226th St Springfield Gardens, NY	3.0	1.5	2100	$3,600	$1.71	26d	1	0.83mi
230-38 144th Ave Unit 1st Floor Jamaica, NY	3.0	1.0	1922	$3,400	$1.77	26d	1	0.93mi
147-29 Springfield Ln Unit 1 Jamaica, NY	3.0	2.0	1980	$3,500	$1.77	18d	1	0.93mi
167-11 144th Dr Unit 2nd Floor Jamaica, NY	3.0	1.0	2016	$3,850	$1.91	26d	1	0.94mi
147-36 Springfield Ln Unit 1 Springfield Gardens, NY	3.0	2.0	1750	$3,500	$2.00	26d	1	0.94mi
231-10 145th Ave Unit ONE Jamaica, NY	3.0	1.0	1872	$3,750	$2.00	24d	1	1.02mi
13230 157th St Jamaica, NY	3.0	2.0	2316	$3,000	$1.30	4d	1	1.09mi
17129 119th Ave Jamaica, NY	3.0	2.0	2040	$3,700	$1.81	26d	1	1.18mi
15217 135th Ave Jamaica, NY	3.0	2.0	2478	$3,500	$1.41	26d	1	1.25mi
13031 229th St Laurelton, NY	3.0	3.5	2500	$5,200	$2.08	24d	1	1.28mi
11542 175th St Unit 2 Queens, NY	4.0	2.0	1650	$4,200	$2.55	26d	1	1.44mi
14019 247th St Rosedale, NY	3.0	2.0	2058	$4,100	$1.99	0d	1	1.47mi
238-23 148th Dr Unit 1st Floor Jamaica, NY	3.0	1.5	1435	$3,500	$2.44	20d	1	1.49mi

Listing history 7 events

1. 2026-02-04
   status Pending
2. 2026-01-06
   price $775,000
3. 2025-11-26
   listed $795,000 Active
4. 2017-05-09
   soldstatus $230,000
5. 2016-10-19
   historical
6. 2014-10-20
   listed $249,000 New
7. 2008-04-22
   soldstatus $590,000

ⓘ 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: $6,747 · $562/mo
• Projected year-2 tax: $9,922 · $827/mo
• Expected delta: +$3,175/yr (+$265/mo · 47.1%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,084
• − Mortgage interest: −$43,412
• − Property taxes: −$6,747
• − Insurance: −$3,875
• − Repairs & maintenance: −$6,247
• − Management: −$6,247
• − Depreciation: −$22,545
• Taxable loss: −$10,989
• Est. tax savings @ 24.0%: +$2,637
• After-tax cash flow: $4,931/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
• City population: 7,731,280
• Population (ZIP): 45,072

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 Black (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 9% Two or more races 4% Asian 2% White 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 39% · Canada, Mexico
• Languages at home: 84% English-only · French/Haitian/Cajun 7% Spanish 6% Other Indo-European 1%

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: ▼ -390.89%
• Current HPI: 311.5327
• Rent YoY: —
• Metro: —
• 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

+31.4% since first listed

7 events — show timeline

• 2026-02-04 Pending — BNYMLS
• 2026-01-06 Price Changed $775,000 BNYMLS
• 2025-11-26 Listed $795,000 BNYMLS
• 2017-05-09 Sold (Public Records) $230,000 Public Records
• 2016-10-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-10-20 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2008-04-22 Sold (Public Records) $590,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $6,747 · -1.7% YoY. Source: county tax records.