105-52 88th St · New York, NY 11417

$923,000

5 bd · 2.0 ba · 1,592 sqft · MultiFamily public records · 44 Days on market

Built 1925 2,000 sqft lot Est $941k · at est.

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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).

• Cash flow +14.9/30.0
• ARV discount +8.4/15.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

This Is A Charming Two Dwelling Home. Move In Condition. Basement: Full Finished with half Bath. 1st Floor: Living, Eat in Kitchen, Bedroom, and another Huge Bedroom & Bathroom. 2nd Floor: Eat in Kitchen, Living, Bedroom with Huge Closets, Bathroom. 3rd Floor: Bedroom, Bedroom. No driveway/No Garage. House Condition: Mint.

Key facts

• 2,000 sq ft lot
• Built 1925
• Listed 44 days

Property features AI

Exterior

• Parking: No carport; Other parking
• Utilities: Public sewer; Utilities: see remarks
• Home design: Duplex; Total building area approximately 1592
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating (natural gas); No central air conditioning
• Interior features: Finished full basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $923k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/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 $766k (17.0% below list).
• Recommended offer: $766k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Ps 63 Old South (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 1,016 students, 79% 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: 116 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $7,660/mo this rent would consume 106% 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 $28k 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 44 days — a 3% lower offer ($895k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.
• Current owner paid $465k; list at $923k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $766,000 (17.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.83% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $940,872
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10112 93rd St	0.37mi	6/2.0 (+1)	1,548 (-3%)	8mo	$1,210,000	$782	66
8915 102nd Rd	0.23mi	4/2.0 (-1)	1,722 (+8%)	8mo	$999,000	$580	64
95-15 84 St	0.50mi	6/3.0 (+1)	1,684 (+6%)	2mo	$1,050,000	$624	56
10010 133rd Ave	0.68mi	4/2.0 (-1)	1,560 (-2%)	6mo	$750,000	$481	55
105-18 77th St	0.55mi	4/2.0 (-1)	1,720 (+8%)	5mo	$710,000	$413	52
9134 81st St	0.72mi	5/3.0	1,520 (-4%)	6mo	$990,000	$651	50
88-16 97 Ave	0.42mi	4/3.0 (-1)	1,480 (-7%)	14mo	$645,000	$436	48
97-15 91 st St	0.43mi	6/3.0 (+1)	1,818 (+14%)	8mo	$1,075,000	$591	40
9415 Atlantic Ave	0.70mi	4/2.0 (-1)	1,386 (-13%)	2mo	$980,000	$707	39
97-24 Linden Blvd	0.70mi	5/2.5	1,448 (-9%)	22mo	$865,000	$597	32
84-04 91st Ave	0.74mi	4/2.0 (-1)	1,368 (-14%)	13mo	$745,000	$545	26

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-132,516
• Equity at exit: $137,622

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-94,138
• Equity at exit: $79,804

Cash invested: $258,440 (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 11417

• Active inventory: 116
• Price-to-rent: 30.1×

Monthly cashflow live

• Estimated rent: $7,660 medium
• Mortgage (P&I): −$4,840
• Tax from tax record: −$555 /mo · $6,658/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,609
• Net cashflow: $272

Break-even live

Break-even rent $7,316

Max offer price $923,000

Occupancy floor 91%

Sensitivity live

Price	-10% $794	-5% $533	+0% $272	+5% $10	+10% $-251
Rent	-10% $-333	-5% $-31	+0% $272	+5% $574	+10% $877
Rate	-1.0pp $736	-0.5pp $506	base $272	+0.5pp $32	+1.0pp $-211

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,659
Total (3 units)			$7,660

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: $230,750
• Closing costs: $27,690
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9210 104th St Richmond Hill, NY	4.0	2.0	2240	$3,600	$1.61	5d	1	1.01mi
8836 77th St Woodhaven, NY	4.0	2.0	1500	$4,200	$2.80	26d	1	1.05mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	26d	1	1.10mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	9d	1	1.10mi
8617 102nd St Richmond Hill, NY	4.0	1.0	1100	$2,850	$2.59	26d	1	1.25mi
9519 116th St South Richmond Hill, NY	4.0	3.0	1900	$3,800	$2.00	20d	1	1.42mi

Listing history 24 events

1. 2026-06-21
   days on market $923,000 Active 44 DOM
2. 2026-06-18
   days on market $923,000 Active 41 DOM
3. 2026-06-17
   days on market $923,000 Active 40 DOM
4. 2026-06-16
   days on market $923,000 Active 39 DOM
5. 2026-06-15
   price $923,000 Active 38 DOM
6. 2026-06-15
   days on market $941,000 Active 38 DOM
7. 2026-06-13
   days on market $941,000 Active 36 DOM
8. 2026-06-10
   days on market $941,000 Active 32 DOM
9. 2026-06-08
   days on market $941,000 Active 31 DOM
10. 2026-06-08
    days on market $941,000 Active 30 DOM
11. 2026-06-04
    days on market $941,000 Active 27 DOM
12. 2026-06-03
    days on market $941,000 Active 26 DOM
13. 2026-06-01
    days on market $941,000 Active 24 DOM
14. 2026-05-31
    days on market $941,000 Active 23 DOM
15. 2026-05-08
    listed $969,000 Active
16. 2014-04-04
    soldstatus $465,000
17. 2014-03-20
    soldstatus $465,000
18. 2014-03-20
    soldstatus $465,000 Closed
19. 2014-01-16
    status Under Contract
20. 2013-11-01
    price $489,000 Price Change
21. 2013-08-31
    listed $539,999 New
22. 2013-08-31
    listed $489,000
23. 2003-06-28
    soldstatus $202,000
24. 1987-03-06
    soldstatus $180,000

ⓘ 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: $6,658 · $555/mo
• Projected year-2 tax: $11,128 · $927/mo
• Expected delta: +$4,470/yr (+$373/mo · 67.1%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $91,920
• − Mortgage interest: −$51,702
• − Property taxes: −$6,658
• − Insurance: −$4,615
• − Repairs & maintenance: −$7,354
• − Management: −$7,354
• − Depreciation: −$26,851
• Taxable loss: −$12,614
• Est. tax savings @ 24.0%: +$3,027
• After-tax cash flow: $6,287/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

+438.3% since first listed

10 events — show timeline

• 2026-05-08 Listed $969,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-04 Sold (Public Records) $465,000 Public Records
• 2014-03-20 Sold (MLS) $465,000 MLSLI
• 2014-03-20 Sold (MLS) $465,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-16 Pending — MLSLI
• 2013-11-01 Price Changed $489,000 MLSLI
• 2013-08-31 Listed $539,999 MLSLI
• 2013-08-31 Listed $489,000 OneKey® MLS as Distributed by MLS Grid
• 2003-06-28 Sold (Public Records) $202,000 Public Records
• 1987-03-06 Sold (Public Records) $180,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $6,658 · +3.4% YoY. Source: county tax records.