45-36 220th Pl · New York, NY 11361

$1,450,000

20 bd · 20.0 ba · 2,486 sqft · MultiFamily public records · 55 Days on market

Built 1979 2,267 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.1/30.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

This is an amazing opportunity to own this Rare 4 family Brick House in center of Bayside. Half block to Northern Blvd. Near Park, Oakland Lake. Close to all, Bus Q12 To Flushing & Long Island. Close to LIRR. 10 Minutes Drive To Bay Terrace Mall. School District Queens 26. (Ps. 203, Bayside H. S), near QCC Convenient To All. Separate electric and gas meters for each unit. Perfect For Owner occupied & Investment. Cap rate approx. 5%, price to sell won't last!

Key facts

• Close to lirr
• Near park
• Oakland lake

Tags

• RARE 4 FAMILY BRICK HOUSE
• HALF BLOCK TO NORTHERN BLVD
• NEAR PARK
• OAKLAND LAKE
• CLOSE TO LIRR
• SCHOOL DISTRICT QUEENS 26

Property features AI

Finance

• HOA & community: Community park access

Exterior

• Parking: Attached private parking; Driveway; Two total parking spaces; One garage space
• Utilities: Public sewer; Electricity connected; Natural gas connected; Public water connected; Trash collection (public)
• Home design: Townhouse structure; Quadruplex property
• Construction: Brick construction
• Exterior features: Brick construction; Near public transit; Near schools; Near shops; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units; One 3-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning units
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $-3k ($-40k/yr) — negative. Per door: $-834/mo.
• To cash-flow at today's rent, offer at most $861k (40.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $987k (31.9% below list).
• Recommended offer: $861k (40.6% below list) — sets the bar for cash-flow.
• Cap rate 3.5% 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.
• Market conditions: Rents rising fast (+5.4%/yr); 168 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $9,869/mo this rent would consume 112% of the median local household income ($106k/yr) (locally 1087% 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 $10k of loan paydown is wiped out by about $44k 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 55 days — a 3% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $1.26M; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $860,948 (40.6% 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 55 days. Have you received any prior offers? Is the seller open to a 41% 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.68% ✗
• Cap rate: 3.53%
• Cash-on-cash: -9.86%
• DSCR: 0.56
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.41% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.04×
• Total profit: $-422,001
• Equity at exit: $216,200

10-year hold

• IRR: -23.4%
• Equity multiple: -0.31×
• Total profit: $-531,909
• Equity at exit: $125,369

Cash invested: $406,000 (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 11361

• Rents YoY: 5.4%
• Active inventory: 168
• Price-to-rent: 49.0×

Monthly cashflow live

• Estimated rent: $9,869 medium
• Mortgage (P&I): −$7,604
• Tax from tax record: −$2,923 /mo · $35,075/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,072
• Net cashflow: $-3,334

Break-even live

Break-even rent $14,090

Max offer price $860,948

Occupancy floor —

Sensitivity live

Price	-10% $-2,514	-5% $-2,924	+0% $-3,334	+5% $-3,745	+10% $-4,155
Rent	-10% $-4,114	-5% $-3,724	+0% $-3,334	+5% $-2,945	+10% $-2,555
Rate	-1.0pp $-2,604	-0.5pp $-2,966	base $-3,334	+0.5pp $-3,710	+1.0pp $-4,092

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$9,868
Total (4 units)			$9,869

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $1,450,000 Active 55 DOM
2. 2026-06-18
   days on market $1,450,000 Active 52 DOM
3. 2026-06-17
   days on market $1,450,000 Active 51 DOM
4. 2026-06-16
   days on market $1,450,000 Active 50 DOM
5. 2026-06-15
   days on market $1,450,000 Active 49 DOM
6. 2026-06-13
   days on market $1,450,000 Active 47 DOM
7. 2026-06-10
   days on market $1,450,000 Active 43 DOM
8. 2026-06-08
   days on market $1,450,000 Active 42 DOM
9. 2026-06-08
   days on market $1,450,000 Active 41 DOM
10. 2026-06-04
    days on market $1,450,000 Active 38 DOM
11. 2026-06-03
    days on market $1,450,000 Active 37 DOM
12. 2026-06-01
    days on market $1,450,000 Active 35 DOM
13. 2026-05-31
    days on market $1,450,000 Active 34 DOM
14. 2026-04-27
    listed $1,450,000 Active
15. 2025-08-29
    status Pending
16. 2025-06-18
    listed $1,450,000 Active
17. 2024-12-06
    historical
18. 2024-06-08
    listed $1,630,000 Active
19. 2024-06-08
    historical
20. 2023-12-01
    historical $2,000
21. 2023-11-14
    listed $2,000
22. 2023-06-20
    price $1,630,000
23. 2023-03-08
    price $1,680,000
24. 2023-02-13
    listed $1,780,000 Active
25. 2017-01-03
    soldstatus $1,260,000
26. 2016-12-15
    soldstatus $1,260,000
27. 2016-03-26
    listed $1,330,000
28. 2012-02-16
    soldstatus $700,000

ⓘ 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: $35,075 · $2,923/mo
• Projected year-2 tax: $35,075 · $2,923/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 27% 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: $118,428
• − Mortgage interest: −$81,223
• − Property taxes: −$35,075
• − Insurance: −$7,250
• − Repairs & maintenance: −$9,474
• − Management: −$9,474
• − Depreciation: −$42,182
• Taxable loss: −$66,249
• Est. tax savings @ 24.0%: +$15,900
• After-tax cash flow: $-24,114/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): 30,127
• Household income: $105,932
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1087.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Asian 42% White 37% Hispanic / Latino 15% Two or more races 7% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 22% Korean 11% Spanish 9%

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: ▼ -190.52%
• Current HPI: 317.8526
• Rent YoY: ▲ 5.41%
• 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

+107.1% since first listed

15 events — show timeline

• 2026-04-27 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-18 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-06-08 Listed $1,630,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-12-01 Rental Removed $2,000 ONEKEY
• 2023-11-14 Listed for Rent $2,000 ONEKEY
• 2023-06-20 Price Changed $1,630,000 OneKey® MLS as Distributed by MLS Grid
• 2023-03-08 Price Changed $1,680,000 OneKey® MLS as Distributed by MLS Grid
• 2023-02-13 Listed $1,780,000 OneKey® MLS as Distributed by MLS Grid
• 2017-01-03 Sold (Public Records) $1,260,000 Public Records
• 2016-12-15 Sold (MLS) $1,260,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-26 Listed $1,330,000 OneKey® MLS as Distributed by MLS Grid
• 2012-02-16 Sold (Public Records) $700,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $35,075 · +0.2% YoY. Source: county tax records.