154-20 132nd Ave · New York, NY 11434

$1,199,000

12 bd · 9.0 ba · 2,170 sqft · MultiFamily public records · 16 Days on market

Built 1950 6,000 sqft lot

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Why this score? — see what drove the F 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 +8.0/30.0
• 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
• DSCR +2.1/10.0
• 1% rule +1.5/10.0
• 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

2 Family Home with 6 Bedrooms, 4.5 Bathrooms And Over 2,200 SF! 3 Bedrooms Over 3 Bedrooms. Each Unit Has Large Closets, Living Rooms With Hardwood Floors, Laundry Areas With Washers & Driers And Gas Cooking. 1st Floor Features An Open Concept Kitchen, Dining Room And Access To the Fenced Side Yard. 2nd Floor Features An Eat-In-Kitchen, Large Living Room And Central Heat & AC. Full Finished Basement With Rec Room. Property Situated On 2 Lots With A Combined Size Of 60x100. Solar Panels For Energy Savings. Home Has Many Updates. This?Property Offers Spacious Living Arrangements, Modern Amenities And Thoughtful Updates Making It A Potentially Attractive Investment Or Living Option

Key facts

• 6,000 sq ft lot
• 2 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2 × 6.0-bed/4.5-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-601/mo.
• To cash-flow at today's rent, offer at most $987k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $778k (35.1% below list).
• Recommended offer: $778k (35.1% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: 245 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $7,777/mo this rent would consume 120% of the median local household income ($78k/yr) (locally 3168% 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 $8k of loan paydown is wiped out by about $36k 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 16 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $777,700 (35.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.65% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.30%
• DSCR: 0.81
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -23.6%
• Equity multiple: 0.19×
• Total profit: $-271,325
• Equity at exit: $178,775

10-year hold

• IRR: -18.7%
• Equity multiple: -0.00×
• Total profit: $-336,737
• Equity at exit: $103,668

Cash invested: $335,720 (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 11434

• Active inventory: 245
• Price-to-rent: 25.7×

Monthly cashflow live

• Estimated rent: $7,777 medium
• Mortgage (P&I): −$6,288
• Tax from tax record: −$559 /mo · $6,706/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,633
• Net cashflow: $-1,202

Break-even live

Break-even rent $9,299

Max offer price $986,609

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	6.0	4.5	$7,778
Total (2 units)			$7,777

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2024-10-18
   status Pending
2. 2024-03-06
   status Pending
3. 2024-02-19
   listed $1,199,000 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: $6,706 · $559/mo
• Projected year-2 tax: $13,485 · $1,124/mo
• Expected delta: +$6,778/yr (+$565/mo · 101.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $93,324
• − Mortgage interest: −$67,163
• − Property taxes: −$6,706
• − Insurance: −$5,995
• − Repairs & maintenance: −$7,466
• − Management: −$7,466
• − Depreciation: −$34,880
• Taxable loss: −$36,352
• Est. tax savings @ 24.0%: +$8,724
• After-tax cash flow: $-5,703/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): 68,263
• Household income: $77,598
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 3168.0

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 Black (76%)
• Race & ethnicity: Black 76% Hispanic / Latino 12% Two or more races 7% Asian 4% White 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 37% · Canada, Mexico, Jamaica
• Languages at home: 82% English-only · Spanish 8% French/Haitian/Cajun 5% Other Indo-European 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: ▼ -539.32%
• Current HPI: 111.2067
• 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

3 events — show timeline

• 2024-10-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-03-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-02-19 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $6,706 · -1.7% YoY. Source: county tax records.