11625 Merrick Blvd · New York, NY 11434

$599,900

8 bd · 5.0 ba · 2,000 sqft · MultiFamily public records · 21 Days on market

Built 2005 1,928 sqft lot Est $1092k · 45% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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 this Two-family home, perfectly positioned in Jamaica, NY. This versatile property exudes a welcoming atmosphere and offers an array of desirable features that cater to your ideal living situation. It has everything that you'd expect from a home of this caliber. The fully finished basement, provides additional living space, complete with a large room and another full bathroom. This semi-detached house offers the advantage of a backyard, ideal for outdoor gatherings and leisure. Nestled in the heart of Jamaica, you'll experience the best of both worlds - a tranquil suburban lifestyle in a charming, while still benefiting from convenient proximity to shopping and transportation op

Key facts

• 1,928 sq ft lot
• Parking
• Built 2005

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.5-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $695/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $600k).
• Recommended offer: $591k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 245 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,908/mo this rent would consume 107% of the median local household income ($78k/yr) (locally 3168% 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 $4k of loan paydown is wiped out by about $18k 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 21 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $590,901 (1.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $1,092,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116-29 166th St	0.29mi	8/3.0	1,856 (-7%)	1mo	$1,100,000	$593	66
120-14 165th St	0.52mi	7/5.0 (-1)	2,160 (+8%)	2mo	$1,180,000	$546	56
115-11 165 Th	0.37mi	8/3.5	2,036 (+2%)	22mo	$980,000	$481	56

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-8,681
• Equity at exit: $89,447

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $106,592
• Equity at exit: $51,868

Cash invested: $167,972 (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 11434

• Active inventory: 245
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $6,908 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$672 /mo · $8,068/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,451
• Net cashflow: $1,389

Break-even live

Break-even rent $5,150

Max offer price $599,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,729	-5% $1,559	+0% $1,389	+5% $1,219	+10% $1,049
Rent	-10% $843	-5% $1,116	+0% $1,389	+5% $1,662	+10% $1,935
Rate	-1.0pp $1,691	-0.5pp $1,542	base $1,389	+0.5pp $1,234	+1.0pp $1,075

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$6,908
Total (2 units)			$6,908

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-09
   status Pending
2. 2026-02-16
   listed $599,900 Active
3. 2007-03-08
   soldstatus $565,000

ⓘ 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: $8,068 · $672/mo
• Projected year-2 tax: $9,103 · $759/mo
• Expected delta: +$1,035/yr (+$86/mo · 12.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $82,896
• − Mortgage interest: −$33,604
• − Property taxes: −$8,068
• − Insurance: −$3,000
• − Repairs & maintenance: −$6,632
• − Management: −$6,632
• − Depreciation: −$17,452
• Taxable income: $7,510
• Est. tax owed @ 24.0%: −$1,802
• After-tax cash flow: $14,867/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): 68,263
• Household income: $77,598
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 3168.0

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 Black (76%)
• Race & ethnicity: Black 76% Hispanic / Latino 12% Two or more races 7% Asian 4% White 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 37% · Canada, Mexico, Jamaica
• Languages at home: 82% English-only · Spanish 8% French/Haitian/Cajun 5% Other Indo-European 2%

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: ▼ -539.32%
• Current HPI: 111.2067
• 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

+6.2% since first listed

3 events — show timeline

• 2026-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Listed $599,900 OneKey® MLS as Distributed by MLS Grid
• 2007-03-08 Sold (Public Records) $565,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $8,068 · +1.3% YoY. Source: county tax records.