11-41 123 St · New York, NY 11361

$1,748,888

21 bd · 7.0 ba · 8,928 sqft · MultiFamily · 173 Days on market

Built 1857 ↓ 22% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Ideal 1031 Exchange and Calling All Investors! All APARTMENTS ARE VACANT! Very Unique Legal 7 Family Investment Property in the Heart of College Point. Detached & All Brick Property features Very Sunny Rooms w/ High Ceilings & Spacious Rooms Throughout! Main Level features TWO Apartments (LR w/ fplc, Open & Updated KIT, 2 Bdrms, plus Sunroom/Office, Bath), Second Level features TWO Apartments (LR w/ fplc, Open & Updated KIT, 2 Bdrms, Bath), Third Level features Two (3 Bedroom Apartments Each). Walk In Level - Additional Apartment features LR, KIT, 4 Bedroom Apartment. Additional Finished Bsmt w/ Sep Entrance. Updated Heating System, Updated Electric. There are Multip

Key facts

• Spacious rooms
• Updated kit
• High ceilings

Tags

• DETACHED ALL BRICK PROPERTY
• HIGH CEILINGS
• SPACIOUS ROOMS
• UPDATED KIT
• ADDITIONAL FINISHED BSMT
• UPDATED HEATING SYSTEM

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Driveway; Carport
• Utilities: Public sewer; Utilities: see remarks
• Home design: Quadruplex (multi-family property); Total building area approximately 8,928 sq ft
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Four 4-bedroom units
• Bathrooms: Seven full bathrooms
• Heating & cooling: Oil heating; Other heating; No central cooling
• Interior features: Finished full basement; Other interior features

What this means for you Summary

Snapshot

• This is a 7 × 3-bed/1.0-bath units multifamily listed at $1.75M.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.75M).
• Recommended offer: $1.54M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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); 166 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $24,770/mo this rent would consume 281% 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 $12k of loan paydown is wiped out by about $52k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $490k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($1.54M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1857 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,539,021 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% 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 1857 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.42% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.34%
• DSCR: 1.82
• GRM: 5.9

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: 12.7%
• Equity multiple: 1.52×
• Total profit: $255,026
• Equity at exit: $260,765

10-year hold

• IRR: 23.4%
• Equity multiple: 3.25×
• Total profit: $1,102,386
• Equity at exit: $151,212

Cash invested: $489,689 (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: 166
• Price-to-rent: 41.2×

Monthly cashflow live

• Estimated rent: $24,770 high
• Mortgage (P&I): −$9,171
• Tax est. 1.5%: −$2,186 /mo · $26,233/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,202
• Net cashflow: $7,482

Break-even live

Break-even rent $15,299

Max offer price $1,748,888

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 7× units	3	1	$24,773
Total (7 units)			$24,770

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: $437,222
• Closing costs: $52,467
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-01
   days on market $1,748,888 Active 173 DOM
2. 2026-05-31
   days on market $1,748,888 Active 172 DOM
3. 2026-04-21
   price $1,748,888
4. 2026-03-10
   price $1,848,888
5. 2025-12-22
   price $1,938,888
6. 2025-12-10
   listed $2,248,888 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $297,240
• − Mortgage interest: −$97,965
• − Property taxes: −$26,233
• − Insurance: −$8,744
• − Repairs & maintenance: −$23,779
• − Management: −$23,779
• − Depreciation: −$50,877
• Taxable income: $65,862
• Est. tax owed @ 24.0%: −$15,807
• After-tax cash flow: $73,979/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

-22.2% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $1,748,888 OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $1,848,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-22 Price Changed $1,938,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-10 Listed $2,248,888 OneKey® MLS as Distributed by MLS Grid