316 Beach 45th St · New York, NY 11691

$695,000

4 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 12 Days on market

Built 1920 2,873 sqft lot Est $810k · 14% under

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Why this score? — see what drove the C+ 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 +22.4/30.0
• ARV discount +13.9/15.0
• DSCR +7.2/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• 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

Great 2-Family Opportunity in the Edgemere section of Far Rockaway! Located just a few blocks from the beach, this well-maintained property features two spacious units, each offering 2 bedrooms, 1 full bathroom, an updated kitchen, and a comfortable living room. Both units include central A/C and heat for year-round comfort. The home also boasts a finished walkout basement, providing additional living or recreational space. Enjoy a large driveway for ample parking and a low-maintenance paved patio backyard - perfect for relaxing or entertaining. Ideal for investors or end-users seeking rental income in a prime coastal location!

Key facts

• Large driveway
• Updated kitchen
• 2,873 sq ft lot

Tags

• UPDATED KITCHEN
• FINISHED WALKOUT BASEMENT
• LARGE DRIVEWAY
• PRIME COASTAL LOCATION

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Duplex property
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Not waterfront

Interior

• Kitchen: Granite counters
• Bedrooms: Two 2-bedroom units (duplex/multi-unit configuration)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Finished full basement with walk-out access
• Interior features: First-floor bedroom; First-floor full bathroom; Granite countertops; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $695k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive. Per door: $368/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $674k (3.0% below list).
• Recommended offer: $674k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 8.3% 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: 137 active listings in the ZIP; 5 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 $6,743/mo this rent would consume 144% of the median local household income ($56k/yr) (locally 4702% 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 $21k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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 $470k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $674,300 (3.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 8.30%
• Cash-on-cash: 7.17%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $809,640
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Beach 44th St	0.16mi	5/2.0 (+1)	2,080 (-11%)	1mo	$525,000	$252	68
326 Beach 37 St	0.37mi	4/3.0	2,068 (-12%)	10mo	$788,684	$381	51
193 Beach 59th St	0.70mi	5/3.0 (+1)	2,052 (-12%)	6mo	$710,000	$346	33

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-65,803
• Equity at exit: $103,627

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $2,906
• Equity at exit: $60,091

Cash invested: $194,600 (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 11691

• Active inventory: 137
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $6,743 medium
• Mortgage (P&I): −$3,645
• Tax from tax record: −$231 /mo · $2,768/yr
• Insurance: −$290
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,416
• Net cashflow: $736

Break-even live

Break-even rent $5,812

Max offer price $695,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,129	-5% $932	+0% $736	+5% $539	+10% $342
Rent	-10% $203	-5% $469	+0% $736	+5% $1,002	+10% $1,268
Rate	-1.0pp $1,086	-0.5pp $912	base $736	+0.5pp $555	+1.0pp $372

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,742
Total (2 units)			$6,743

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: $173,750
• Closing costs: $20,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	25d	1	0.08mi
8-27 Hartman Ln Unit 1ST Far Rockaway, NY	3.0	1.5	2937	$3,250	$1.11	21d	1	0.74mi
1-57 Beach 25th St Far Rockaway, NY	3.0	2.0	3000	$3,700	$1.23	25d	1	0.92mi
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	25d	1	1.25mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	25d	1	1.49mi

Listing history 16 events

1. 2026-04-28
   status Pending
2. 2026-04-16
   listed $695,000 Active
3. 2018-03-12
   historical
4. 2018-02-01
   status Under Contract
5. 2017-12-24
   price $409,000
6. 2017-12-15
   status Back On Market
7. 2017-12-04
   status Under Contract
8. 2017-11-20
   listed $449,500 New
9. 2016-07-17
   historical
10. 2016-05-06
    historical
11. 2016-04-28
    price $325,000
12. 2016-04-13
    listed $350,000 New
13. 2015-01-14
    status Under Contract
14. 2014-07-29
    listed $220,000 New
15. 2009-11-04
    soldstatus $470,000
16. 1993-12-17
    soldstatus $100,000

ⓘ 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: $2,768 · $231/mo
• Projected year-2 tax: $7,257 · $605/mo
• Expected delta: +$4,489/yr (+$374/mo · 162.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,916
• − Mortgage interest: −$38,931
• − Property taxes: −$2,768
• − Insurance: −$8,594
• − Repairs & maintenance: −$6,473
• − Management: −$6,473
• − Depreciation: −$20,218
• Taxable loss: −$2,541
• Est. tax savings @ 24.0%: +$610
• After-tax cash flow: $9,436/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): 69,359
• Household income: $56,135
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 4702.0

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 0.71)
• Race & ethnicity: Black 40% Hispanic / Latino 26% White 24% Two or more races 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Hispanic 3% Italian 2% Romanian 2%
• Foreign-born: 35% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 21% French/Haitian/Cajun 2% Russian/Polish/Slavic 2%

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: ▼ -397.66%
• Current HPI: 281.4044
• 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

+595.0% since first listed

16 events — show timeline

• 2026-04-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Listed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2018-03-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-02-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-12-24 Price Changed $409,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-15 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2017-12-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-11-20 Listed $449,500 OneKey® MLS as Distributed by MLS Grid
• 2016-07-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-05-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-04-28 Price Changed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2016-04-13 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2015-01-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2014-07-29 Listed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2009-11-04 Sold (Public Records) $470,000 Public Records
• 1993-12-17 Sold (Public Records) $100,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,768 · -2.4% YoY. Source: county tax records.