119-41 27th Ave · New York, NY 11354

$678,000

3 bd · 2.0 ba · 1,360 sqft · MultiFamily public records · 7 Days on market

Built 1940 2,125 sqft lot Est $948k · 28% under

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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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Mint-condition, 3-Bedroom, 2-Full Bath, All-Brick, Fully-Detached, Sun-splashed Single-Family Colonial, conveniently located in beautiful Flushing residential neighborhood. This move-in ready home offers 3 Spacious bedrooms, Extra-Large, Sun-drenched Living Room, Formal Dining-room, and modern Eat-in Kitchen, Plus a large Stand-up Attic. Additionally, this gorgeous home offers a large finished basement, with a legalized full-bath, and a separate side-entrance, plus large private yard. 25 x 85 lot, R-4 ZONING! Close to all highways, Public Transportations, Schools and shopping . Absolutely won’t last!

Key facts

• R-4 zoning
• Large private yard
• 2,125 sq ft lot

Tags

• MODERN EAT-IN KITCHEN
• LARGE FINISHED BASEMENT
• SEPARATE SIDE-ENTRANCE
• LARGE PRIVATE YARD
• R-4 ZONING
• CLOSE TO ALL HIGHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $678k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $678k).
• Cap rate 10.0% 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 (+2.8%/yr); 656 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $8,272/mo this rent would consume 150% of the median local household income ($66k/yr) (locally 4119% 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 $20k 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 + 2.8% rent growth), your $190k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $678,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.15%
• DSCR: 1.59
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $947,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2201 125th St	0.47mi	4/2.0 (+1)	1,256 (-8%)	6mo	$875,000	$697	55

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 · 2.78% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $20,770
• Equity at exit: $101,092

10-year hold

• IRR: 12.2%
• Equity multiple: 1.95×
• Total profit: $181,142
• Equity at exit: $58,621

Cash invested: $189,840 (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 11354

• Home prices YoY: -33.9%
• Rents YoY: 2.8%
• Active inventory: 656
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $8,272 medium
• Mortgage (P&I): −$3,556
• Tax from tax record: −$617 /mo · $7,402/yr
• Insurance: −$282
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,737
• Net cashflow: $2,080

Break-even live

Break-even rent $5,639

Max offer price $678,000

Occupancy floor 70%

Sensitivity live

Price	-10% $2,464	-5% $2,272	+0% $2,080	+5% $1,888	+10% $1,696
Rent	-10% $1,427	-5% $1,753	+0% $2,080	+5% $2,407	+10% $2,734
Rate	-1.0pp $2,421	-0.5pp $2,252	base $2,080	+0.5pp $1,904	+1.0pp $1,726

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$8,271
Total (3 units)			$8,272

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: $169,500
• Closing costs: $20,340
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110-43 15th Ave Unit 2 Flushing, NY	2.0	1.5	1800	$3,000	$1.67	25d	1	0.79mi
1332 130th St College Point, NY	3.0	1.0	1388	$3,000	$2.16	16d	1	0.98mi
1332 130th St College Point, NY	3.0	1.0	1388	$2,850	$2.05	25d	1	0.98mi
25-29 Butler St Unit 1 FL East Elmhurst, NY	3.0	2.0	1350	$3,500	$2.59	3d	1	1.06mi
114-09 Taipei Ct Unit 2fl Flushing, NY	3.0	2.5	1600	$3,500	$2.19	25d	1	1.07mi
510 115th St Unit 510A College Point, NY	2.0	2.0	950	$3,300	$3.47	25d	1	1.15mi
139-31 34th Ave Unit 3rd fl Flushing, NY	2.0	1.0	900	$2,500	$2.78	25d	1	1.16mi
520 115th St Unit 520E College Point, NY	2.0	2.0	928	$2,800	$3.02	25d	1	1.17mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	11d	1	1.21mi
13702 Northern Blvd Flushing, NY	1.0–2.0	1.0	850	$2,850	$3.35	8d	2	1.22mi
14016 34th Ave Unit 1210 Flushing, NY	2.0	1.0	900	$3,000	$3.33	7d	1	1.23mi
140-16 34th Ave Apt 1003 Flushing, NY	2.0	2.0	1100	$3,300	$3.00	25d	1	1.23mi
140-16 34th Ave Unit 1113 Flushing, NY	2.0	1.0	900	$3,000	$3.33	25d	1	1.23mi
33-19 143rd St Flushing, NY	3.0	2.0	1224	$4,300	$3.51	25d	1	1.24mi
4028 College Point Blvd #912 Flushing, NY	2.0	2.0	1083	$4,200	$3.88	25d	1	1.32mi
3641 Union St Unit 2B Flushing, NY	2.0	1.0	968	$3,100	$3.20	25d	1	1.32mi
4022 College Point Blvd Flushing, NY	1.0–2.0	1.0–2.0	983	$4,000	$4.07	25d	2	1.32mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$4,500	$5.90	4d	3	1.38mi
23-15 97th St Unit 1 Flushing, NY	4.0	2.0	1150	$3,800	$3.30	21d	1	1.38mi
13835 39th Ave Flushing, NY	2.0–3.0	2.0	1000	$4,700	$4.70	2d	2	1.38mi
13835 39th Ave Flushing, NY	2.0	2.0	1014	$4,350	$4.29	25d	2	1.38mi
9707 24th Ave East Elmhurst, NY	3.0	1.5	1100	$4,500	$4.09	25d	1	1.39mi
309 Soundview Ln College Point, NY	2.0	2.0	1200	$2,900	$2.42	25d	1	1.44mi
36-20 Parsons Blvd Unit 5D Flushing, NY	2.0	1.0	900	$2,600	$2.89	15d	1	1.46mi
25-45 97th St Unit 2 Flushing, NY	2.0	1.0	1260	$2,800	$2.22	8d	1	1.47mi

Listing history 2 events

1. 2026-03-30
   status Pending
2. 2026-03-23
   listed $678,000 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: $7,402 · $617/mo
• Projected year-2 tax: $9,430 · $786/mo
• Expected delta: +$2,028/yr (+$169/mo · 27.4%)

ⓘ 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 ≥99°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: $99,264
• − Mortgage interest: −$37,979
• − Property taxes: −$7,402
• − Insurance: −$3,390
• − Repairs & maintenance: −$7,941
• − Management: −$7,941
• − Depreciation: −$19,724
• Taxable income: $14,888
• Est. tax owed @ 24.0%: −$3,573
• After-tax cash flow: $21,388/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): 53,028
• Household income: $66,010
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 4119.0

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: Majority Asian (64%)
• Race & ethnicity: Asian 64% White 15% Hispanic / Latino 14% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 1% Italian 1%
• Foreign-born: 66% · China, Canada, South Korea
• Languages at home: 22% English-only · Chinese 43% Spanish 14% Korean 11%

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: ▼ -131.64%
• Current HPI: 257.0828
• Rent YoY: ▲ 2.78%
• 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

2 events — show timeline

• 2026-03-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $678,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $7,402 · +3.3% YoY. Source: county tax records.