1010 Bay 25th St · New York, NY 11691

$990,000

6 bd · 4.0 ba · 2,500 sqft · MultiFamily public records · 37 Days on market

Built 1950 5,421 sqft lot Est $840k · 18% over

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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 +12.9/30.0
• Schools +5.0/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Welcome to 1010 Bay 25th St in Far Rockaway. This spacious, well maintained brick duplex is located in a quiet neighborhood in Bayswater. This stunning home features 6 bedrooms, 3.5 bathrooms, and a semi finished basement. The first and second units feature an open plan with formal living and dining rooms, an eat in kitchen, and hardwood floors throughout. The upper level includes an updated, renovated kitchen, a mini balcony, and a half bath in the primary bedroom. This home features a newer roof, newer doors and windows, and a newer water heater and boiler. It is situated on a fenced property in an excellent location close to local amenities and transportation options. This is a rare oppo

Key facts

• 5,421 sq ft lot
• Parking
• Built 1950

Property features AI

Exterior

• Parking: Private off-street parking for 1 vehicle
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Duplex; Full basement
• Construction: Brick construction
• Exterior features: Brick exterior

Interior

• Kitchen: Eat-in kitchen; Granite counters
• Bedrooms: Two 3-bedroom units
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating; Wall/window AC units
• Interior features: Eat-in kitchen; Formal dining; Granite counters; Storage; Walk-in closet(s); Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 6.0-bed/3.5-bath units multifamily listed at $990k.

Deal economics

• At list price, monthly cash flow is $-76 ($-915/yr) — negative. Per door: $-38/mo.
• To cash-flow at today's rent, offer at most $977k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $781k (21.1% below list).
• Recommended offer: $781k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $7,811/mo this rent would consume 167% 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 $7k of loan paydown is wiped out by about $30k 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 37 days — a 3% lower offer ($960k) 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: 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 $781,100 (21.1% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 21% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.79% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $840,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2327 Mott Ave	0.25mi	6/4.0	2,340 (-6%)	1mo	$731,000	$312	77
1051 Bay 32nd St	0.30mi	6/4.0	2,392 (-4%)	6mo	$845,000	$353	74
2316 Beach Channel Dr	0.22mi	6/2.0	2,383 (-5%)	10mo	$550,000	$231	66
2324 Camp Rd	0.43mi	6/2.0	2,500 (0%)	10mo	$885,000	$354	64
2810 Brookhaven Ave	0.30mi	6/2.0	2,352 (-6%)	7mo	$790,400	$336	63
2215 Edgemere Ave	0.50mi	6/5.0	2,226 (-11%)	6mo	$845,000	$380	49
212 Beach 26th St	0.55mi	7/5.0 (+1)	2,824 (+13%)	7mo	$928,900	$329	38

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-165,524
• Equity at exit: $147,612

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-151,392
• Equity at exit: $85,597

Cash invested: $277,200 (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 11691

• Active inventory: 137
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $7,811 medium
• Mortgage (P&I): −$5,192
• Tax from tax record: −$643 /mo · $7,713/yr
• Insurance: −$412
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,640
• Net cashflow: $-76

Break-even live

Break-even rent $7,907

Max offer price $976,537

Occupancy floor 96%

Sensitivity live

Price	-10% $484	-5% $204	+0% $-76	+5% $-356	+10% $-637
Rent	-10% $-693	-5% $-385	+0% $-76	+5% $232	+10% $541
Rate	-1.0pp $422	-0.5pp $176	base $-76	+0.5pp $-333	+1.0pp $-594

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

Units	Beds	Baths	Est. rent
▸ 2× units	6.0	3.5	$7,812
Total (2 units)			$7,811

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: $247,500
• Closing costs: $29,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Roger Ave Inwood, NY	5.0	3.0	2328	$4,800	$2.06	44d	1	0.97mi

Listing history 18 events

1. 2026-06-18
   days on market $990,000 Active 37 DOM
2. 2026-06-17
   days on market $990,000 Active 36 DOM
3. 2026-06-16
   days on market $990,000 Active 35 DOM
4. 2026-06-15
   days on market $990,000 Active 34 DOM
5. 2026-06-13
   pricedays on market $990,000 Active 32 DOM
6. 2026-06-10
   days on market $1,150,000 Active 28 DOM
7. 2026-06-08
   days on market $1,150,000 Active 27 DOM
8. 2026-06-08
   days on market $1,150,000 Active 26 DOM
9. 2026-06-04
   days on market $1,150,000 Active 23 DOM
10. 2026-06-03
    days on market $1,150,000 Active 22 DOM
11. 2026-06-02
    days on market $1,150,000 Active 21 DOM
12. 2026-06-01
    days on market $1,150,000 Active 20 DOM
13. 2026-05-31
    days on market $1,150,000 Active 19 DOM
14. 2026-05-12
    status Active
15. 2026-05-04
    status Active
16. 2026-05-04
    status Active
17. 2026-05-04
    price $1,150,000
18. 2026-04-24
    historical $1,150,888

ⓘ 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: $7,713 · $643/mo
• Projected year-2 tax: $12,222 · $1,018/mo
• Expected delta: +$4,509/yr (+$376/mo · 58.5%)

ⓘ 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 ≥95°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: $93,732
• − Mortgage interest: −$55,455
• − Property taxes: −$7,713
• − Insurance: −$4,950
• − Repairs & maintenance: −$7,499
• − Management: −$7,499
• − Depreciation: −$28,800
• Taxable loss: −$18,183
• Est. tax savings @ 24.0%: +$4,364
• After-tax cash flow: $3,449/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

-0.1% since first listed

5 events — show timeline

• 2026-05-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-24 Coming Soon $1,150,888 OneKey® MLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $7,713 · +3.4% YoY. Source: county tax records.