103-58 103rd St Unit MULTIFAM · New York, NY 11417

$1,700,000

12 bd · 7.2 ba · 3,420 sqft · MultiFamily public records · 18 Days on market

Built 2007

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +2.6/10.0
• 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: 4 units. confirmed

Listing remarks

Discover this well-maintained vacant multi-family residence located at 103-58 103rd Street in the desirable neighborhood of Ozone Park, Queens. This solid and thoughtfully cared-for property offers multiple spacious residential units, each designed with practical layouts and quality finishes. The building features hardwood flooring, updated interiors, and efficient heating and cooling systems throughout. Situated on a quiet, residential block, the property presents a clean exterior, well-kept common areas, and the added convenience of off-street parking, a valuable asset in the area. Its location provides excellent access to public transportation, major roadways, schools, shopping, and neig

Key facts

• Hardwood flooring
• Clean exterior
• Updated interiors

Tags

• MULTI FAMILY RESIDENCE
• SPACIOUS RESIDENTIAL UNITS
• HARDWOOD FLOORING
• UPDATED INTERIORS
• CLEAN EXTERIOR
• WELL KEPT COMMON AREAS

Property features AI

Finance

• Financial info: Pets not allowed in building
• HOA & community: Association fee frequency: Monthly

Exterior

• Home design: 3 stories; Entry level is 1
• Exterior features: Lot dimensions: 0.060000 x 0.000000

Interior

• Bedrooms: Total of 14 rooms (includes bedrooms and living spaces); Property contains 3 separate units
• Bathrooms: 7 full bathrooms
• Heating & cooling: Baseboard heating; Wall furnace; Wall unit cooling
• Interior features: Unfurnished; Full basement
• Laundry & utility: Laundry details: see remarks

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative. Per door: $-75/mo.
• To cash-flow at today's rent, offer at most $1.65M (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.29M (24.4% below list).
• Recommended offer: $1.29M (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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: 117 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $12,853/mo this rent would consume 177% 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 $12k of loan paydown is wiped out by about $51k 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 18 days — a 2% lower offer ($1.67M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $740k; list at $1.70M implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $1,285,300 (24.4% 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. 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. 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: 0.76% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 11.0

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-295,203
• Equity at exit: $253,476

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-284,131
• Equity at exit: $146,985

Cash invested: $476,000 (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 11417

• Active inventory: 117
• Price-to-rent: 44.1×

Monthly cashflow live

• Estimated rent: $12,853 high
• Mortgage (P&I): −$8,915
• Tax from tax record: −$764 /mo · $9,173/yr
• Insurance: −$708
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,699
• Net cashflow: $-300

Break-even live

Break-even rent $13,233

Max offer price $1,646,945

Occupancy floor 97%

Sensitivity live

Price	-10% $662	-5% $181	+0% $-300	+5% $-781	+10% $-1,263
Rent	-10% $-1,316	-5% $-808	+0% $-300	+5% $207	+10% $715
Rate	-1.0pp $556	-0.5pp $132	base $-300	+0.5pp $-741	+1.0pp $-1,189

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$12,852
Total (4 units)			$12,853

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-16
   days on market $1,700,000 Active 18 DOM
2. 2026-06-15
   days on market $1,700,000 Active 17 DOM
3. 2026-06-13
   days on market $1,700,000 Active 15 DOM
4. 2026-06-09
   days on market $1,700,000 Active 11 DOM
5. 2026-06-08
   days on market $1,700,000 Active 10 DOM
6. 2026-06-08
   days on market $1,700,000 Active 9 DOM
7. 2026-06-04
   days on market $1,700,000 Active 6 DOM
8. 2026-06-03
   days on market $1,700,000 Active 5 DOM
9. 2026-06-02
   days on market $1,700,000 Active 4 DOM
10. 2026-06-01
    days on market $1,700,000 Active 3 DOM
11. 2026-05-31
    days on market $1,700,000 Active 2 DOM

ⓘ 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: $9,173 · $764/mo
• Projected year-2 tax: $18,952 · $1,579/mo
• Expected delta: +$9,778/yr (+$815/mo · 106.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $154,236
• − Mortgage interest: −$95,226
• − Property taxes: −$9,173
• − Insurance: −$9,298
• − Repairs & maintenance: −$12,339
• − Management: −$12,339
• − Depreciation: −$49,455
• Taxable loss: −$33,593
• Est. tax savings @ 24.0%: +$8,062
• After-tax cash flow: $4,458/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

+129.7% since first listed

2 events — show timeline

• 2026-05-29 Listed $1,700,000 RLS at REBNY
• 2012-01-18 Sold (Public Records) $740,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $9,173 · +3.4% YoY. Source: county tax records.