10643 156th St · New York, NY 11433

$1,399,000

8 bd · 4.0 ba · 2,200 sqft · MultiFamily public records · 146 Days on market

Built 1931 2,500 sqft lot Est $1155k · 21% 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 +14.0/30.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Four Family Semi-Detached Brick Residential Home that includes a Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 1st Floor Rear Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 1 Bedroom and 1 Full Bath on the 1st Floor Front Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 3 Bedrooms and 1 Full Bath on the 2nd Floor Front Apartment and Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 2nd Floor Rear Apartment. Also there is a Full Basement., Additional information: Interior Features:Lr/Dr

Key facts

• Outside entrance
• Solid brick property
• 2,500 sq ft lot

Tags

• RENOVATED LEGAL 4-FAMILY
• SOLID BRICK PROPERTY
• FULL UNFINISHED BASEMENT
• OUTSIDE ENTRANCE

Property features AI

Exterior

• Parking: No carport; No designated parking features
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Trash collection (public); Water available
• Home design: Quadruplex; Updated / remodeled condition
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Back yard

Interior

• Kitchen: Open kitchen layout; Quartz/quartzite countertops
• Bedrooms: Four 2-bedroom units
• Flooring: Vinyl flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bath; Open kitchen; Quartz/quartzite counters; Full unfinished basement with walk-out access
• Laundry & utility: Utilities connected (electricity, natural gas, water, sewer)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive. Per door: $46/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.08M (22.9% below list).
• Recommended offer: $1.08M (22.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 120 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,791/mo this rent would consume 167% of the median local household income ($78k/yr) (locally 1701% 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 $10k of loan paydown is wiped out by about $42k 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 146 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago 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.
• Current owner paid $423k; list at $1.40M implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $1,079,100 (22.9% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.77% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.57%
• DSCR: 1.03
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $1,155,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10551 Remington St	0.64mi	7/5.0 (-1)	2,200 (0%)	4mo	$1,155,000	$525	58
145-50 107th Ave	0.43mi	7/4.0 (-1)	2,016 (-8%)	5mo	$970,000	$481	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-215,584
• Equity at exit: $208,595

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-175,228
• Equity at exit: $120,960

Cash invested: $391,720 (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 11433

• Active inventory: 120
• Price-to-rent: 43.2×

Monthly cashflow live

• Estimated rent: $10,791 high
• Mortgage (P&I): −$7,337
• Tax from tax record: −$421 /mo · $5,048/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,266
• Net cashflow: $185

Break-even live

Break-even rent $10,557

Max offer price $1,399,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,792
Total (4 units)			$10,791

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: $349,750
• Closing costs: $41,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $1,399,000 Active 146 DOM
2. 2026-06-17
   days on market $1,399,000 Active 145 DOM
3. 2026-06-15
   days on market $1,399,000 Active 143 DOM
4. 2026-06-13
   days on market $1,399,000 Active 141 DOM
5. 2026-06-10
   days on market $1,399,000 Active 137 DOM
6. 2026-06-08
   days on market $1,399,000 Active 136 DOM
7. 2026-06-04
   days on market $1,399,000 Active 132 DOM
8. 2026-06-03
   days on market $1,399,000 Active 131 DOM
9. 2026-06-01
   days on market $1,399,000 Active 129 DOM
10. 2026-05-31
    days on market $1,399,000 Active 128 DOM
11. 2026-01-23
    listed $1,399,000 Active
12. 2025-08-11
    historical
13. 2025-03-20
    price $1,299,000
14. 2025-02-10
    listed $1,399,000 Active
15. 2025-02-10
    historical
16. 2022-03-04
    soldstatus $422,573
17. 2022-02-15
    soldstatus $415,000 Closed 576-char remark

    Show marketing remark (576 chars)

    Four Family Semi-Detached Brick Residential Home that includes a Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 1st Floor Rear Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 1 Bedroom and 1 Full Bath on the 1st Floor Front Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 3 Bedrooms and 1 Full Bath on the 2nd Floor Front Apartment and Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 2nd Floor Rear Apartment. Also there is a Full Basement., Additional information: Interior Features:Lr/Dr

18. 2021-04-25
    historical 576-char remark

    Show marketing remark (576 chars)

    Four Family Semi-Detached Brick Residential Home that includes a Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 1st Floor Rear Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 1 Bedroom and 1 Full Bath on the 1st Floor Front Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 3 Bedrooms and 1 Full Bath on the 2nd Floor Front Apartment and Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 2nd Floor Rear Apartment. Also there is a Full Basement., Additional information: Interior Features:Lr/Dr

19. 2021-01-26
    listed $460,000 Active 576-char remark

    Show marketing remark (576 chars)

    Four Family Semi-Detached Brick Residential Home that includes a Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 1st Floor Rear Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 1 Bedroom and 1 Full Bath on the 1st Floor Front Apartment; Living Room/Dining Room Combo, Eat-In-Kitchen, 3 Bedrooms and 1 Full Bath on the 2nd Floor Front Apartment and Living Room/Dining Room Combo, Eat-In-Kitchen, 2 Bedrooms and 1 Full Bath on the 2nd Floor Rear Apartment. Also there is a Full Basement., Additional information: Interior Features:Lr/Dr

20. 2020-03-27
    status Pending
21. 2019-01-14
    historical
22. 2017-07-11
    status Under Contract
23. 2017-07-11
    historical
24. 2017-06-29
    listed $239,000 New
25. 2006-04-20
    soldstatus $650,000
26. 2003-07-31
    soldstatus $310,000
27. 2002-03-13
    soldstatus $150,000
28. 1985-08-26
    soldstatus $18,500

ⓘ 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: $5,048 · $421/mo
• Projected year-2 tax: $14,346 · $1,195/mo
• Expected delta: +$9,297/yr (+$775/mo · 184.2%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $129,492
• − Mortgage interest: −$78,366
• − Property taxes: −$5,048
• − Insurance: −$6,995
• − Repairs & maintenance: −$10,359
• − Management: −$10,359
• − Depreciation: −$40,698
• Taxable loss: −$22,334
• Est. tax savings @ 24.0%: +$5,360
• After-tax cash flow: $7,577/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): 37,884
• Household income: $77,519
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1701.0

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 0.65)
• Race & ethnicity: Black 55% Asian 17% Hispanic / Latino 13% Two or more races 5% White 2% Native American 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 4%
• Common ancestry: Hispanic 2%
• Foreign-born: 42% · Canada, China, United Kingdom
• Languages at home: 69% English-only · Other Indo-European 13% Spanish 11% French/Haitian/Cajun 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: ▼ -250.63%
• Current HPI: 383.7055
• 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

+7462.2% since first listed

18 events — show timeline

• 2026-01-23 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $1,299,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-10 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-10 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2022-03-04 Sold (Public Records) $422,573 Public Records
• 2022-02-15 Sold (MLS) $415,000 OneKey® MLS as Distributed by MLS Grid
• 2021-04-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-01-26 Listed $460,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-01-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-07-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-07-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-06-29 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2006-04-20 Sold (Public Records) $650,000 Public Records
• 2003-07-31 Sold (Public Records) $310,000 Public Records
• 2002-03-13 Sold (Public Records) $150,000 Public Records
• 1985-08-26 Sold (Public Records) $18,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $5,048 · -1.0% YoY. Source: county tax records.