1142 Welling Ct · New York, NY 11102

$750,000

3 bd · 3.0 ba · 1,064 sqft · SingleFamily public records · 124 Days on market

Built 1925 1,149 sqft lot

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bank Owned, Cash Only. Sold In As-Is Condition And Occupants. Check Nyc.Com For Violations., Additional information: Appearance:Fair,Separate Hotwater Heater:N

Key facts

• 1,149 sq ft lot
• Built 1925
• Listed 124 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $750k.

Deal economics

• At list price, monthly cash flow is $985 ($12k/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 $695k (7.3% below list).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 fast (+4.8%/yr); 114 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,951/mo this rent would consume 86% of the median local household income ($97k/yr) (locally 2407% 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 $6k of equity ($5k loan paydown + $1k appreciation (0.2% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.2% appreciation + 4.8% rent growth), your $210k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $456k; list at $750k implies a 64% 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, 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 $660,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $272,384
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30-55 Vernon Blvd Unit 8K	0.08mi	3/2.0	1,193 (+12%)	15mo	$305,000	$256	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.16% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.28×
• Total profit: $59,038
• Equity at exit: $223,951

10-year hold

• IRR: 11.9%
• Equity multiple: 2.38×
• Total profit: $290,164
• Equity at exit: $274,177

Cash invested: $210,000 (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 11102

• Home prices YoY: 0.1%
• Rents YoY: 4.8%
• Active inventory: 114
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $6,951 high
• Mortgage (P&I): −$3,933
• Tax from tax record: −$260 /mo · $3,125/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,460
• Net cashflow: $985

Break-even live

Break-even rent $5,704

Max offer price $750,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,410	-5% $1,197	+0% $985	+5% $773	+10% $561
Rent	-10% $436	-5% $711	+0% $985	+5% $1,260	+10% $1,534
Rate	-1.0pp $1,363	-0.5pp $1,176	base $985	+0.5pp $791	+1.0pp $593

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	4d	9	0.26mi
888 Main St New York, NY	3.0	1.0–2.0	908	$7,375	$8.12	0d	8	0.59mi
509 E 87th St Apt 4B New York, NY	4.0	2.0	900	$7,150	$7.94	23d	1	0.77mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	23d	1	0.85mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	943	$9,500	$10.07	8d	3	0.93mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$6,850	$9.89	0d	2	0.99mi
30-37 38th St Unit 4 Astoria, NY	3.0	2.0	1200	$5,200	$4.33	15d	1	1.02mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	4d	3	1.04mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	21d	1	1.04mi
305 E 86th St New York, NY	1.0–3.0	1.0–2.0	820	$14,500	$17.67	25d	10	1.06mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	25d	1	1.09mi
404 E 76th St New York, NY	1.0–2.0	1.0–2.0	1001	$7,500	$7.49	5d	2	1.10mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	11d	3	1.11mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$9,640	$10.15	4d	2	1.12mi
245 E 93rd St Unit 7E New York, NY	2.0	2.5	1262	$8,200	$6.50	25d	1	1.16mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$10,020	$14.31	0d	2	1.21mi
255 E 77th St Unit 12B New York, NY	2.0	2.5	1475	$17,500	$11.86	18d	1	1.22mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$6,100	$8.24	0d	2	1.24mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$7,960	$12.51	3d	3	1.24mi
1435 2nd Ave Unit 1021957P New York, NY	3.0	2.0	1194	$7,740	$6.48	13d	1	1.28mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$9,507	$12.76	25d	3	1.30mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	3d	2	1.31mi
1377 Lexington Ave Unit 5CC New York, NY	2.0	1.0	796	$5,100	$6.41	21d	1	1.32mi
411 E 68th St Unit 1021976P New York, NY	2.0	1.0	893	$6,792	$7.61	23d	1	1.32mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$6,380	$10.63	3d	2	1.34mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	0d	23	1.38mi
4126 27th St Unit 6D Long Island City, NY	2.0	2.0	1203	$4,990	$4.15	25d	1	1.40mi
300 E 69th St Unit 1294661P New York, NY	2.0	1.0	839	$6,870	$8.19	21d	1	1.42mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$8,460	$12.10	3d	2	1.43mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	0d	1	1.43mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$17,070	$21.58	4d	2	1.44mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$8,790	$8.30	4d	3	1.49mi
309 E 108th St New York, NY	3.0	1.0	1500	$5,400	$3.60	25d	1	1.49mi
900 Park Ave New York, NY	1.0–2.0	1.5–2.5	1200	$17,500	$14.58	25d	2	1.49mi
900 Park Ave Unit 5E New York, NY	2.0	2.5	1300	$15,750	$12.12	8d	1	1.49mi
885 Main St #705 New York, NY	2.0	2.0	1100	$4,800	$4.36	0d	1	1.50mi
885 Main St Unit 6B New York, NY	2.0	2.0	950	$5,300	$5.58	0d	1	1.50mi

Listing history 14 events

1. 2025-12-17
   status Pending
2. 2025-09-02
   price $750,000
3. 2025-08-15
   listed $799,999 Active
4. 2025-07-11
   historical
5. 2025-05-21
   listed $799,000 Active
6. 2019-08-07
   soldstatus $456,300
7. 2019-07-30
   soldstatus $450,000 Closed 159-char remark

   Show marketing remark (159 chars)

   Bank Owned, Cash Only. Sold In As-Is Condition And Occupants. Check Nyc.Com For Violations., Additional information: Appearance:Fair,Separate Hotwater Heater:N

8. 2019-02-13
   status Under Contract 159-char remark

   Show marketing remark (159 chars)

   Bank Owned, Cash Only. Sold In As-Is Condition And Occupants. Check Nyc.Com For Violations., Additional information: Appearance:Fair,Separate Hotwater Heater:N

9. 2019-01-08
   price $519,000 159-char remark

   Show marketing remark (159 chars)

   Bank Owned, Cash Only. Sold In As-Is Condition And Occupants. Check Nyc.Com For Violations., Additional information: Appearance:Fair,Separate Hotwater Heater:N

10. 2018-12-06
    listed $555,500 New 159-char remark

    Show marketing remark (159 chars)

    Bank Owned, Cash Only. Sold In As-Is Condition And Occupants. Check Nyc.Com For Violations., Additional information: Appearance:Fair,Separate Hotwater Heater:N

11. 2006-12-28
    soldstatus $595,000
12. 2005-06-21
    soldstatus $425,000
13. 1998-08-18
    soldstatus $132,500
14. 1985-09-05
    soldstatus $75,000

ⓘ 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: $3,125 · $260/mo
• Projected year-2 tax: $7,900 · $658/mo
• Expected delta: +$4,775/yr (+$398/mo · 152.8%)

ⓘ 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,409
• − Mortgage interest: −$42,012
• − Property taxes: −$3,125
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,673
• − Management: −$6,673
• − Depreciation: −$21,818
• Taxable loss: −$641
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $11,975/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): 28,503
• Household income: $96,617
• Rent vs Own: 86.6% rent · 13.4% own
• Severe rent burden: 2407.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 26% Asian 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 21% Other Indo-European 14% Russian/Polish/Slavic 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: ▲ 0.16%
• Current HPI: 144.3118
• Rent YoY: ▲ 4.79%
• 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

+900.0% since first listed

14 events — show timeline

• 2025-12-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Price Changed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-15 Listed $799,999 OneKey® MLS as Distributed by MLS Grid
• 2025-07-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-21 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-07 Sold (Public Records) $456,300 Public Records
• 2019-07-30 Sold (MLS) $450,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-01-08 Price Changed $519,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-06 Listed $555,500 OneKey® MLS as Distributed by MLS Grid
• 2006-12-28 Sold (Public Records) $595,000 Public Records
• 2005-06-21 Sold (Public Records) $425,000 Public Records
• 1998-08-18 Sold (Public Records) $132,500 Public Records
• 1985-09-05 Sold (Public Records) $75,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,125 · +3.4% YoY. Source: county tax records.