44 Taft Ave · New York, NY 10301

$374,000

2 bd · 1.0 ba · 1,808 sqft · MultiFamily public records · 37 Days on market

Built 1901 3,700 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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Short sale subject to third-party approval. Cash offers only. Drive-by only—no interior access. Property has been vacant for over 10 years and has been fully stripped: no plumbing, pipes, or electrical. Windows and doors have been cemented shut. Sold strictly as-is, with no access.

Key facts

• 3,700 sq ft lot
• Built 1901
• Listed 37 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: 110V electric service
• Home design: 3-story building; Approximate year built
• Construction: Aluminum siding; Building area total approximately 1,808
• Exterior features: Lot approximately 0.08 acres (about 3,700 sq ft); Lot dimensions approximately 37 x 100; Zoned R3A

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (located on the 2nd level)
• Bathrooms: Unit 1: 1 bathroom; Total: 1 bathroom
• Heating & cooling: Steam heating; Oil heating
• Interior features: Two-unit building configuration

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $374k.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $374k).
• Recommended offer: $363k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 61 William A Morris (math 22% / reading 57%, grade F, #418 of 729 statewide, top 59%, 932 students, 84% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 265 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $4,151/mo this rent would consume 58% of the median local household income ($86k/yr) (locally 2008% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $105k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($363k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $362,780 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.50%
• DSCR: 1.38
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $860,608
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
98 Taft Ave	0.09mi	3/1.0 (+1)	1,556 (-14%)	12mo	$740,000	$476	57

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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-135
• Equity at exit: $55,765

10-year hold

• IRR: 12.5%
• Equity multiple: 2.13×
• Total profit: $118,588
• Equity at exit: $32,337

Cash invested: $104,720 (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 10301

• Rents YoY: 6.1%
• Active inventory: 265
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $4,151 high
• Mortgage (P&I): −$1,961
• Tax from tax record: −$421 /mo · $5,051/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$872
• Net cashflow: $741

Break-even live

Break-even rent $3,213

Max offer price $374,000

Occupancy floor 77%

Sensitivity live

Price	-10% $953	-5% $847	+0% $741	+5% $636	+10% $530
Rent	-10% $413	-5% $577	+0% $741	+5% $905	+10% $1,069
Rate	-1.0pp $930	-0.5pp $837	base $741	+0.5pp $644	+1.0pp $546

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: $93,500
• Closing costs: $11,220
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Westervelt Ave Unit 1 Staten Island, NY	2.0	1.0	2100	$2,600	$1.24	26d	1	0.25mi
90 Bay Street Lndg Unit 4B Staten Island, NY	2.0	2.5	1600	$6,000	$3.75	3d	1	0.59mi
90 Bay Street Lndg Staten Island, NY	2.0	2.5	1670	$5,250	$3.14	5d	2	0.59mi
24 Clinton Ave Unit 2 Staten Island, NY	3.0	1.0	1680	$3,753	$2.23	17d	1	0.75mi
65 Bard Ave Staten Island, NY	3.0	2.0	1400	$2,950	$2.11	26d	1	1.23mi
703 Bay St Staten Island, NY	2.0	2.5	1337	$3,500	$2.62	26d	1	1.24mi

Listing history 8 events

1. 2026-06-10
   days on market $374,000 Active 37 DOM
2. 2026-06-08
   days on market $374,000 Active 36 DOM
3. 2026-06-08
   days on market $374,000 Active 35 DOM
4. 2026-06-04
   days on market $374,000 Active 32 DOM
5. 2026-06-03
   days on market $374,000 Active 31 DOM
6. 2026-06-01
   days on market $374,000 Active 29 DOM
7. 2026-05-31
   days on market $374,000 Active 28 DOM
8. 2026-05-03
   listed $374,000 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: $5,051 · $421/mo
• Projected year-2 tax: $5,686 · $474/mo
• Expected delta: +$635/yr (+$53/mo · 12.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,814
• − Mortgage interest: −$20,950
• − Property taxes: −$5,051
• − Insurance: −$1,870
• − Repairs & maintenance: −$3,985
• − Management: −$3,985
• − Depreciation: −$10,880
• Taxable income: $3,093
• Est. tax owed @ 24.0%: −$742
• After-tax cash flow: $8,154/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

1 event — show timeline

• 2026-05-03 Listed $374,000 SIBORMLS

Property tax history

+7.7%/yr

Latest (2025): $5,051 · +0.9% YoY. Source: county tax records.