665 Nasby Pl · New York, NY 11691

$479,000

3 bd · 2.0 ba · 1,404 sqft · SingleFamily public records · 147 Days on market

Built 1915 2,631 sqft lot Est $607k · 21% under ↓ 4% 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 +15.2/30.0
• ARV discount +15.0/15.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ideal Investment or User Opportunity! Welcome to 665 Nasby Place, a Colonial-style home with great potential, located in the heart of Far Rockaway, NY. This 3-bedroom, 2-bathroom property is priced to sell and offers an excellent opportunity for both investors and homeowners looking to put their personal touch on a home in a fantastic neighborhood. Spacious Living: Enjoy 1,404 sq. ft. of living space with a practical layout, offering plenty of room for customization and renovation to suit your style and needs. Cozy bedrooms, functional kitchen, private backyard & ideal location. While the home is in good condition, it's in need of some updates and personal touches. Priced to sell!

Key facts

• Practical layout
• Private backyard
• Colonial style

Tags

• COLONIAL STYLE
• PRACTICAL LAYOUT
• PRIVATE BACKYARD
• FANTASTIC NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $479k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $405k (15.5% below list).
• Recommended offer: $405k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 4 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).
• At $4,048/mo this rent would consume 87% 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 $3k of loan paydown is wiped out by about $14k 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 147 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $404,816 (15.5% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $606,528
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 Deerfield Rd	0.26mi	3/1.0	1,320 (-6%)	7mo	$572,990	$434	68
407 Beach 35th St	0.61mi	3/2.5	1,460 (+4%)	8mo	$600,000	$411	56
15 Williams Ct	0.57mi	3/2.0	1,479 (+5%)	11mo	$599,000	$405	55
17-16 Redfern Ave	0.42mi	4/2.0 (+1)	1,250 (-11%)	22mo	$540,000	$432	38

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-67,240
• Equity at exit: $71,420

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-45,490
• Equity at exit: $41,415

Cash invested: $134,120 (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: 9.9×

Monthly cashflow live

• Estimated rent: $4,048 medium
• Mortgage (P&I): −$2,512
• Tax from tax record: −$322 /mo · $3,862/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$850
• Net cashflow: $165

Break-even live

Break-even rent $3,840

Max offer price $479,000

Occupancy floor 91%

Sensitivity live

Price	-10% $436	-5% $300	+0% $165	+5% $29	+10% $-106
Rent	-10% $-155	-5% $5	+0% $165	+5% $325	+10% $484
Rate	-1.0pp $406	-0.5pp $286	base $165	+0.5pp $41	+1.0pp $-86

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 Collier Ave Far Rockaway, NY	2.0	1.0	1656	$2,800	$1.69	26d	1	0.25mi
13-15 Heyson Rd Unit 2 Far Rockaway, NY	3.0	1.0	1200	$3,600	$3.00	21d	1	0.73mi
11 Bayview Ave Inwood, NY	3.0	2.0	1246	$4,500	$3.61	26d	1	0.79mi
138 Eldorado St Atlantic Beach, NY	2.0	1.5	1200	$4,100	$3.42	21d	1	1.23mi

Listing history 6 events

1. 2025-11-07
   status Pending
2. 2025-06-13
   listed $479,000 Active
3. 2025-06-06
   historical
4. 2024-11-20
   price $425,580
5. 2024-07-26
   price $471,556
6. 2024-06-05
   listed $496,375 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: $3,862 · $322/mo
• Projected year-2 tax: $5,979 · $498/mo
• Expected delta: +$2,116/yr (+$176/mo · 54.8%)

ⓘ 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 ≥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: $48,578
• − Mortgage interest: −$26,831
• − Property taxes: −$3,862
• − Insurance: −$2,395
• − Repairs & maintenance: −$3,886
• − Management: −$3,886
• − Depreciation: −$13,935
• Taxable loss: −$6,218
• Est. tax savings @ 24.0%: +$1,492
• After-tax cash flow: $3,468/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

-3.5% since first listed

6 events — show timeline

• 2025-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-13 Listed $479,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-20 Price Changed $425,580 OneKey® MLS as Distributed by MLS Grid
• 2024-07-26 Price Changed $471,556 OneKey® MLS as Distributed by MLS Grid
• 2024-06-05 Listed $496,375 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $3,862 · -2.4% YoY. Source: county tax records.