13803 Lafayette St · New York, NY 11417

$825,000

4 bd · 2.0 ba · 2,772 sqft · MultiFamily public records · 21 Days on market

Built 1960 2,167 sqft lot Est $1491k · 45% 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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Schools +5.0/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• 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

Wonderful opportunity to own this 2 family brick home. Spacious 2 bedroom over two bedroom legal two family home offering strong potential for end users or investors. The property features a new roof (1.5 years old), gas heating and gas cooking, full basement with walk out access to the backyard. Additional highlights include a garage, private driveway and fenced in backyard. While the home does need work, it presents a great opportunity to renovate and add value. Ideal for rental income, multi-generational living, or owner-occupied investment. Don't miss chance to create something special at this home that is conveniently located to shopping, parkways, airports and public transportation

Key facts

• 2,167 sq ft lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $825k.

Deal economics

• At list price, monthly cash flow is $-28 ($-334/yr) — negative. Per door: $-14/mo.
• To cash-flow at today's rent, offer at most $820k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $657k (20.4% below list).
• Recommended offer: $657k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 116 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,571/mo this rent would consume 91% of the median local household income ($87k/yr) (locally 1206% 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 $6k of loan paydown is wiped out by about $25k 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 ($813k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 67% 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 $657,100 (20.4% 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. 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $1,491,336
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15007 Huron St	0.50mi	5/4.0 (+1)	2,530 (-9%)	11mo	$1,360,000	$538	40

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-135,657
• Equity at exit: $123,010

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-121,215
• Equity at exit: $71,331

Cash invested: $231,000 (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 11417

• Active inventory: 116
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $6,571 high
• Mortgage (P&I): −$4,326
• Tax from tax record: −$549 /mo · $6,586/yr
• Insurance: −$344
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,380
• Net cashflow: $-28

Break-even live

Break-even rent $6,606

Max offer price $820,078

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,570
Total (2 units)			$6,571

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: $206,250
• Closing costs: $24,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10144 98th St Ozone Park, NY	3.0	1.0	2112	$3,450	$1.63	25d	1	0.89mi
97-30 91st St Unit 2 Jamaica, NY	3.0	2.0	3465	$3,000	$0.87	15d	1	0.94mi
10124 78th St Ozone Park, NY	3.0	1.0	2299	$3,500	$1.52	24d	1	0.98mi
10716 112th St South Richmond Hill, NY	3.0	1.0	2411	$3,000	$1.24	25d	1	1.13mi
9210 104th St Richmond Hill, NY	4.0	2.0	2240	$3,600	$1.61	4d	1	1.41mi
8812 86th St Woodhaven, NY	3.0	2.0	2200	$3,000	$1.36	14d	1	1.49mi

Listing history 3 events

1. 2026-02-09
   status Pending
2. 2026-01-10
   listed $825,000 Active
3. 2026-01-06
   historical $825,000

ⓘ 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: $6,586 · $549/mo
• Projected year-2 tax: $10,264 · $855/mo
• Expected delta: +$3,678/yr (+$307/mo · 55.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $78,852
• − Mortgage interest: −$46,213
• − Property taxes: −$6,586
• − Insurance: −$4,125
• − Repairs & maintenance: −$6,308
• − Management: −$6,308
• − Depreciation: −$24,000
• Taxable loss: −$14,688
• Est. tax savings @ 24.0%: +$3,525
• After-tax cash flow: $3,191/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): 30,578
• Household income: $87,006
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1206.0

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 0.74)
• Race & ethnicity: Hispanic / Latino 37% Asian 29% White 17% Two or more races 16% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 10%
• Common ancestry: Romanian 1%
• Foreign-born: 44% · Canada, China, Jamaica
• Languages at home: 46% English-only · Spanish 28% Other Indo-European 16% Chinese 4%

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: ▼ -407.81%
• Current HPI: 307.7585
• 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

+0.0% since first listed

3 events — show timeline

• 2026-02-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-10 Listed $825,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Coming Soon $825,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $6,586 · +133.9% YoY. Source: county tax records.