2718 Collier Ave · New York, NY 11691

$749,000

6 bd · 6.0 ba · 3,014 sqft · MultiFamily public records · 93 Days on market

Built 1920 5,000 sqft lot Est $992k · 24% under ↓ 22% since listing

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.3/10.0
• 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 MLS

Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

Key facts

• Two-family home
• Corner lot
• 5,000 sq ft lot

Tags

• TWO-FAMILY HOME
• CORNER LOT
• CLOSE TO TRANSPORTATION
• SHORT DISTANCE TO BEACHES
• ACCESS TO OUTDOOR ACTIVITIES
• VARIETY OF LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $749k.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $749k).
• Recommended offer: $682k (9.0% 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.
• 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: 141 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $7,703/mo this rent would consume 165% of the median local household income ($56k/yr) (locally 4702% 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 $5k of loan paydown is wiped out by about $22k 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 93 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $210k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $681,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.03% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $991,606
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Beach 26th St	0.23mi	7/5.0 (+1)	2,824 (-6%)	7mo	$928,900	$329	63
420 Beach 27th St	0.06mi	6/2.0	3,375 (+12%)	13mo	$950,000	$281	50

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-61,729
• Equity at exit: $111,678

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $23,324
• Equity at exit: $64,760

Cash invested: $209,720 (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 11691

• Active inventory: 141
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $7,703 high
• Mortgage (P&I): −$3,928
• Tax from tax record: −$484 /mo · $5,809/yr
• Insurance: −$312
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,618
• Net cashflow: $935

Break-even live

Break-even rent $6,520

Max offer price $749,000

Occupancy floor 83%

Sensitivity live

Price	-10% $1,359	-5% $1,147	+0% $935	+5% $723	+10% $511
Rent	-10% $326	-5% $631	+0% $935	+5% $1,239	+10% $1,543
Rate	-1.0pp $1,312	-0.5pp $1,125	base $935	+0.5pp $741	+1.0pp $543

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$7,702
Total (2 units)			$7,703

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Roger Ave Inwood, NY	5.0	3.0	2328	$4,800	$2.06	45d	1	1.27mi

Listing history 7 events

1. 2026-03-18
   status Pending

   Show marketing remark (1102 chars)

   Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

2. 2026-03-18
   status Pending 1102-char remark

   Show marketing remark (1102 chars)

   Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

3. 2026-03-10
   status Active
4. 2025-12-03
   price $749,000 1102-char remark

   Show marketing remark (1102 chars)

   Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

5. 2025-12-03
   price $749,000

   Show marketing remark (1102 chars)

   Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

6. 2025-11-03
   listed $959,000 Active 1102-char remark

   Show marketing remark (1102 chars)

   Discover this spacious two-family home in the desirable Edgemere section of Far Rockaway. Situated on a 5,000 sq ft corner lot, this property offers versatile living options with significant potential. The first floor features 3 bedrooms and 2 bathrooms, while the second floor provides an additional unit with 1 bedroom and 1 bathroom. Please note that the property requires work and renovations, offering an excellent opportunity for investors or homeowners looking to customize a home to their preferences. This home is ideally located close to transportation options, making commuting convenient for residents. Additionally, it is just a short distance to the beautiful beaches of Far Rockaway, providing excellent access to outdoor activities and leisure. The vibrant community offers a variety of local amenities, shops, and eateries, creating a lively and inviting neighborhood environment. With its spacious layout, prime location, and the potential for renovation, this property presents a fantastic opportunity to create a comfortable and personalized living space in the heart of Edgemere.

7. 2025-11-01
   listed $959,000 Active

ⓘ 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: $5,809 · $484/mo
• Projected year-2 tax: $9,233 · $769/mo
• Expected delta: +$3,425/yr (+$285/mo · 59.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,436
• − Mortgage interest: −$41,956
• − Property taxes: −$5,809
• − Insurance: −$8,864
• − Repairs & maintenance: −$7,395
• − Management: −$7,395
• − Depreciation: −$21,789
• Taxable loss: −$771
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $11,403/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): 69,359
• Household income: $56,135
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 4702.0

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: Black 40% Hispanic / Latino 26% White 24% Two or more races 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Hispanic 3% Italian 2% Romanian 2%
• Foreign-born: 35% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 21% French/Haitian/Cajun 2% Russian/Polish/Slavic 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: ▼ -397.66%
• Current HPI: 281.4044
• 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

-21.9% since first listed

7 events — show timeline

• 2026-03-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-18 Pending — BNYMLS
• 2026-03-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-03 Price Changed $749,000 BNYMLS
• 2025-12-03 Price Changed $749,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-03 Listed $959,000 BNYMLS
• 2025-11-01 Listed $959,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $5,809 · -1.1% YoY. Source: county tax records.