40-45 99th St · New York, NY 11368

$1,398,000

66 bd · 36.0 ba · 4,800 sqft · MultiFamily public records · 367 Days on market

Built 1931 2,558 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Semi-detached 6 family brick in Corona, a great investment opportunity. Three floor building. Each floor features 2 units, totaling 11 bedrooms and 6 bathrooms. The first floor features a 1 bedroom & 1 bathroom unit, and a 2 bedroom 1 bathroom unit. The second and third floors feature 2 units, each with 2 bedrooms and 1 bathroom. Every unit has a kitchen and living room. 2 parking spots, Tenants pay for electricity and cooking gas. Close to numerous shops and restaurants. Close to the 7 train. Close to the Q72 bus. , Additional information: Appearance: Good, Building Size:20x80

Key facts

• Close to the q72 bus
• Three floor building
• Close to the 7 train

Tags

• THREE FLOOR BUILDING
• EACH FLOOR FEATURES 2 UNITS
• EVERY UNIT HAS A KITCHEN
• CLOSE TO NUMEROUS SHOPS
• CLOSE TO THE 7 TRAIN
• CLOSE TO THE Q72 BUS

Property features AI

Exterior

• Parking: Detached, private parking (2 spaces total)
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront; Near public transit; Near schools; Near shops

Interior

• Flooring: Hardwood floors
• Bathrooms: Six full bathrooms
• Heating & cooling: Natural gas heating; Baseboard heating; Other heating; Wall/window air conditioning units
• Interior features: Other interior features; Hardwood floors; Basement present (no finished basement listed); Six full bathrooms

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/6.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $7k ($80k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.40M).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: 243 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $21,135/mo this rent would consume 351% of the median local household income ($72k/yr) (locally 6817% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $113k of equity ($10k loan paydown + $103k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $391k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$181k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 367 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $990k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $1,230,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 367 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 1931 — 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: 1.51% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.1%
• Equity multiple: 3.42×
• Total profit: $948,654
• Equity at exit: $1,005,517

10-year hold

• IRR: 31.6%
• Equity multiple: 7.23×
• Total profit: $2,437,593
• Equity at exit: $1,944,267

Cash invested: $391,440 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 33.1×

Monthly cashflow live

• Estimated rent: $21,135 medium
• Mortgage (P&I): −$7,331
• Tax from tax record: −$2,104 /mo · $25,243/yr
• Insurance: −$582
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,438
• Net cashflow: $6,679

Break-even live

Break-even rent $12,680

Max offer price $1,398,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	6	$21,138
Total (6 units)			$21,135

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: $349,500
• Closing costs: $41,940
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $1,398,000 Active 367 DOM
2. 2026-06-17
   days on market $1,398,000 Active 366 DOM
3. 2026-06-15
   days on market $1,398,000 Active 364 DOM
4. 2026-06-13
   days on market $1,398,000 Active 362 DOM
5. 2026-06-10
   days on market $1,398,000 Active 358 DOM
6. 2026-06-08
   days on market $1,398,000 Active 357 DOM
7. 2026-06-03
   days on market $1,398,000 Active 352 DOM
8. 2026-06-01
   days on market $1,398,000 Active 350 DOM
9. 2026-05-31
   days on market $1,398,000 Active 349 DOM
10. 2025-10-02
    price $1,398,000
11. 2025-06-16
    listed $1,498,000 Active
12. 2024-09-14
    price $1,498,000
13. 2018-01-10
    soldstatus $990,000
14. 2015-10-28
    soldstatus $880,000
15. 1997-12-08
    soldstatus $305,000

ⓘ 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: $25,243 · $2,104/mo
• Projected year-2 tax: $25,243 · $2,104/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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $253,620
• − Mortgage interest: −$78,310
• − Property taxes: −$25,243
• − Insurance: −$6,990
• − Repairs & maintenance: −$20,290
• − Management: −$20,290
• − Depreciation: −$40,669
• Taxable income: $61,828
• Est. tax owed @ 24.0%: −$14,839
• After-tax cash flow: $65,312/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 3%

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: ▲ 7.40%
• Current HPI: 282.8276
• 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

+358.4% since first listed

6 events — show timeline

• 2025-10-02 Price Changed $1,398,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-16 Listed $1,498,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-14 Price Changed $1,498,000 OneKey® MLS as Distributed by MLS Grid
• 2018-01-10 Sold (Public Records) $990,000 Public Records
• 2015-10-28 Sold (Public Records) $880,000 Public Records
• 1997-12-08 Sold (Public Records) $305,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $25,243 · -1.0% YoY. Source: county tax records.