35-44 104 St · New York, NY 11368

$1,590,000

9 bd · 3.0 ba · 2,545 sqft · MultiFamily public records · 156 Days on market

Built 2005 1,188 sqft lot Est $1219k · 30% over ↓ 4% since listing

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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).

• Appreciation +8.7/10.0
• Cash flow +7.5/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.3/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

* * Incredible Investment Opportunity – Three-Family Home in Prime Corona! * * Welcome to * * 35-44 104th Street * * , a rare * * three-family home * * in the heart of Corona, Queens! Whether you're an investor looking to maximize rental income or a homeowner seeking a multi-generational living setup, this property offers * * endless potential * * . Featuring * * three separate units * * plus a * * bonus basement space * * , this home provides excellent income-generating opportunities. Live in one unit while the * * rental income from the other two helps cover your mortgage! * * Nestled in a prime location, you’re just minutes from major highways, L

Key facts

• Three family home
• Bonus basement space
• Near major highways

Tags

• THREE FAMILY HOME
• THREE SEPARATE UNITS
• BONUS BASEMENT SPACE
• PRIME LOCATION
• NEAR MAJOR HIGHWAYS
• NEAR LAGUARDIA AIRPORT

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative. Per door: $-663/mo.
• To cash-flow at today's rent, offer at most $1.24M (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.00M (36.9% below list).
• Recommended offer: $1.00M (36.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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 $10,034/mo this rent would consume 167% 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 $129k of equity ($11k loan paydown + $118k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$206k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($1.40M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $1,003,400 (36.9% 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. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
10. 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.
11. 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.
12. 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: 0.63% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.36%
• DSCR: 0.76
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $1,219,055
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40-04 97 St	0.40mi	8/3.0 (-1)	2,723 (+7%)	8mo	$1,300,000	$477	58
31-15 101st St	0.52mi	8/— (-1)	2,400 (-6%)	7mo	$1,150,000	$479	55
102-33 46th Ave	0.54mi	8/3.0 (-1)	2,310 (-9%)	13mo	$1,400,000	$606	43
101-16 32nd Ave	0.42mi	10/6.0 (+1)	2,211 (-13%)	6mo	$1,360,000	$615	37
102-14 Corona Ave	0.68mi	8/3.0 (-1)	2,188 (-14%)	7mo	$730,000	$334	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 14.5%
• Equity multiple: 2.05×
• Total profit: $467,267
• Equity at exit: $1,143,614

10-year hold

• IRR: 14.5%
• Equity multiple: 4.25×
• Total profit: $1,449,002
• Equity at exit: $2,211,290

Cash invested: $445,200 (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: 39.6×

Monthly cashflow live

• Estimated rent: $10,034 high
• Mortgage (P&I): −$8,338
• Tax from tax record: −$916 /mo · $10,991/yr
• Insurance: −$662
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,107
• Net cashflow: $-1,990

Break-even live

Break-even rent $12,553

Max offer price $1,238,512

Occupancy floor —

Sensitivity live

Price	-10% $-1,090	-5% $-1,540	+0% $-1,990	+5% $-2,440	+10% $-2,890
Rent	-10% $-2,782	-5% $-2,386	+0% $-1,990	+5% $-1,593	+10% $-1,197
Rate	-1.0pp $-1,189	-0.5pp $-1,585	base $-1,990	+0.5pp $-2,402	+1.0pp $-2,821

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$10,035
Total (3 units)			$10,034

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: $397,500
• Closing costs: $47,700
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-12-07
   status Pending
2. 2025-07-04
   listed $1,590,000 Active
3. 2025-06-09
   historical
4. 2025-02-26
   listed $1,658,000 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: $10,991 · $916/mo
• Projected year-2 tax: $18,931 · $1,578/mo
• Expected delta: +$7,940/yr (+$662/mo · 72.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $120,408
• − Mortgage interest: −$89,065
• − Property taxes: −$10,991
• − Insurance: −$7,950
• − Repairs & maintenance: −$9,633
• − Management: −$9,633
• − Depreciation: −$46,255
• Taxable loss: −$53,118
• Est. tax savings @ 24.0%: +$12,748
• After-tax cash flow: $-11,128/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

-4.1% since first listed

4 events — show timeline

• 2025-12-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-04 Listed $1,590,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-26 Listed $1,658,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $10,991 · -2.4% YoY. Source: county tax records.