22-14 120th St #6 · New York, NY 11356

$1,299,999

10 bd · 6.0 ba · 5,316 sqft · MultiFamily · 148 Days on market

Built 1931 Good condition 5,000 sqft lot $245/sqft · 46% below area Est $2.41M · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.5/30.0
• Schools +5.2/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• 1% rule +2.6/10.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Six-unit rent Stabilized Queens multifamily with stable in-place income, long-term tenant base, and future upside upon legal vacancy. Ideal for a patient investor seeking a durable NYC income asset. Excellent opportunity located in the desirable College Point neighborhood of Queens. This well-maintained multifamily building presents a strong investment opportunity. The property features an ideal unit mix consisting of two 1-bedroom apartments on the first floor and four 2-bedroom apartments located on the second and third floors, offering strong tenant appeal and consistent rental demand.

Key facts

• 5,000 sq ft lot
• 3 parking spots
• Built 1931

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.30M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-379/mo.
• To cash-flow at today's rent, offer at most $1.14M (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $993k (23.6% below list).
• Recommended offer: $993k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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.
• 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: Rents rising fast (+12.1%/yr); 203 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $3,311/mo per unit this rent would consume 46% of the median local household income ($87k/yr) — 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 $9k of loan paydown is wiped out by about $39k 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 148 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $993,200 (23.6% 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 148 days. Have you received any prior offers? Is the seller open to a 24% 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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 5.24%
• Cash-on-cash: -3.75%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $2,409,740
• List price: $1,299,999
• Delta: -46.05%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140-03 32nd Ave	1.28mi	11/8.0 (+1)	4,326 (-19%)	0mo	$2,560,000	$592	27
628 151st St	2.14mi	11/7.0 (+1)	4,432 (-17%)	5mo	$1,720,000	$388	27
111-13 38 Ave	1.86mi	10/10.0	6,375 (+20%)	51mo	$2,300,000	$361	4
34 Boulevard	1.28mi	8/4.0 (-2)	4,300 (-19%)	33mo	$1,650,000	$384	2

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.37×
• Total profit: $-230,480
• Equity at exit: $193,834

10-year hold

• IRR: -1.8%
• Equity multiple: 0.85×
• Total profit: $-54,499
• Equity at exit: $112,400

Cash invested: $364,000 (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 11356

• Home prices YoY: -28.9%
• Rents YoY: 12.1%
• Active inventory: 203
• Price-to-rent: 32.7×

Monthly cashflow live

• Estimated rent: $9,932 high
• Mortgage (P&I): −$6,817
• Tax est. 1.5%: −$1,625 /mo · $19,500/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,086
• Net cashflow: $-1,138

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$9,933
Total (3 units)			$9,932

Break-even live

Break-even rent $11,372

Max offer price $1,135,369

Occupancy floor —

Sensitivity live

Price	-10% $-239	-5% $-689	+0% $-1,138	+5% $-1,587	+10% $-2,036
Rent	-10% $-1,922	-5% $-1,530	+0% $-1,138	+5% $-745	+10% $-353
Rate	-1.0pp $-483	-0.5pp $-807	base $-1,138	+0.5pp $-1,475	+1.0pp $-1,817

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: $325,000
• Closing costs: $39,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22-11 119th St Unit 1FL Flushing, NY	1.0	1.0	650	$1,950	$3.00	65d	1	0.03mi
20-16 121st St Unit 2nd floor College Point, NY	2.0	1.0	—	$2,450	—	12d	1	0.09mi
2230 College Point Blvd Unit 2G College Point, NY	2.0	1.0	801	$2,650	$3.31	35d	1	0.10mi
20-22 College Point Blvd Unit 3B Flushing, NY	2.0	1.0	700	$2,600	$3.71	120d	1	0.12mi
20-23 College Point Blvd Flushing, NY	2.0	1.0	800	$2,800	$3.50	6d	1	0.14mi
20-12 123rd St Unit 1st Fl Flushing, NY	3.0	1.0	800	$2,600	$3.25	51d	1	0.17mi
12417 22nd Ave College Point, NY	3.0	1.0	2400	$2,600	$1.08	5d	1	0.24mi
20-36 126th St Unit 2 Flushing, NY	3.0	2.0	1100	$3,200	$2.91	12d	1	0.29mi
2353 124th St College Point, NY	1.0	1.0	1000	$2,650	$2.65	98d	1	0.29mi
2353 124th St College Point, NY	1.0	1.0	—	$2,800	—	89d	1	0.29mi
25-05 124th St Fl 1 Flushing, NY	2.0	1.0	750	$2,300	$3.07	114d	1	0.32mi
2030 127th St College Point, NY	3.0	1.5	2536	$3,000	$1.18	103d	1	0.33mi
1417 118th St College Point, NY	3.0	2.0	2040	$3,200	$1.57	51d	1	0.38mi
122-21 26th Ave #2 Flushing, NY	1.0	1.0	—	$2,450	—	112d	1	0.38mi
11918 14th Ave College Point, NY	3.0	2.0	2918	$2,400	$0.82	76d	1	0.40mi
25-11 127th St Unit 3 Flushing, NY	2.0	1.0	800	$1,900	$2.38	88d	1	0.43mi
2563 125th St Flushing, NY	3.0	2.0	1200	$3,500	$2.92	18d	1	0.43mi
14-20 114th St Apt 3 Flushing, NY	2.0	1.0	936	$2,800	$2.99	36d	1	0.46mi
110-43 15th Ave Unit 2 Flushing, NY	2.0	1.5	1800	$2,800	$1.56	88d	1	0.47mi
12507 14th Ave College Point, NY	2.0	2.0	3482	$2,800	$0.80	6d	1	0.47mi
13-11 123rd St Unit First Flushing, NY	1.0	1.0	—	$1,750	—	10d	1	0.48mi
11120 14th Rd College Point, NY	3.0	1.0	2300	$3,400	$1.48	47d	1	0.48mi
23-40 130th St #2 College Point, NY	3.0	1.0	—	$3,000	—	18d	1	0.49mi
29-7 119th St Queens, NY	2.0	2.0	4735	$3,200	$0.68	7d	1	0.57mi
1027 116th St College Point, NY	2.0	1.0	960	$2,500	$2.60	20d	1	0.58mi
9-22 College Pl Unit See Flushing, NY	1.0	2.0	1356	$1,800	$1.33	109d	1	0.61mi
1332 130th St College Point, NY	3.0	1.0	1388	$2,850	$2.05	120d	1	0.66mi
1332 130th St College Point, NY	3.0	1.0	1388	$3,000	$2.16	110d	1	0.66mi
11467 Taipei Ct College Point, NY	2.0	2.0	800	$2,700	$3.38	10d	1	0.66mi
13115 15th Ave College Point, NY	2.0	1.0	2236	$2,600	$1.16	101d	1	0.67mi
1312 130th St College Point, NY	2.0	1.0	700	$2,500	$3.57	70d	1	0.69mi
13-12 130th St Unit 1 Flushing, NY	2.0	1.0	700	$2,500	$3.57	69d	1	0.69mi
114-09 Taipei Ct Unit 2fl Flushing, NY	3.0	2.5	1600	$3,500	$2.19	120d	1	0.69mi
11-23 130th St Unit 1Fl Flushing, NY	3.0	1.5	1000	$4,000	$4.00	46d	1	0.71mi
11-23 130th St Unit 2Fl Flushing, NY	3.0	1.5	1000	$3,000	$3.00	46d	1	0.71mi
510 115th St Unit 510A College Point, NY	2.0	2.0	950	$3,300	$3.47	120d	1	0.75mi
542 115th St Unit 542A College Point, NY	2.0	2.0	928	$3,000	$3.23	38d	1	0.76mi
5-29 117th St Unit 1st Fl Flushing, NY	2.0	1.0	874	$2,800	$3.20	20d	1	0.77mi
520 115th St Unit 520E College Point, NY	2.0	2.0	928	$2,800	$3.02	120d	1	0.78mi
11917 6th Ave College Point, NY	3.0	2.0	1122	$4,100	$3.65	39d	1	0.81mi

Property features AI

Exterior

• Parking: Driveway parkingThree total parking spaces
• Security: Fire alarmFire escapeFire sprinkler systemSecurity systemVideo cameras
• Utilities: Public sewerCable availableElectricity availableNatural gas available
• Home design: Quadruplex
• Construction: Brick and stucco construction
• Exterior features: Brick and stucco exteriorChain link fencingNot waterfront

Interior

• Bedrooms: One 4-bedroom unit
• Flooring: Ceramic tileHardwoodLaminate
• Bathrooms: Six full bathrooms
• Heating & cooling: Natural gas heating with separate metersWall/window air conditioning units
• Interior features: First-floor bedroomFirst-floor full bathroomBuilt-in featuresNatural woodworkFull unfinished basement with storage space and walk-out access
• Laundry & utility: Laundry in basement

Listing history 50 events

1. 2026-08-19
   days on market $1,299,999 Active 148 DOM
2. 2026-08-17
   days on market $1,299,999 Active 146 DOM
3. 2026-08-16
   days on market $1,299,999 Active 145 DOM
4. 2026-08-15
   days on market $1,299,999 Active 143 DOM
5. 2026-08-11
   days on market $1,299,999 Active 140 DOM
6. 2026-08-10
   days on market $1,299,999 Active 139 DOM
7. 2026-08-09
   days on market $1,299,999 Active 138 DOM
8. 2026-08-06
   days on market $1,299,999 Active 135 DOM
9. 2026-08-05
   days on market $1,299,999 Active 134 DOM
10. 2026-08-04
    days on market $1,299,999 Active 133 DOM
11. 2026-08-03
    days on market $1,299,999 Active 132 DOM
12. 2026-07-31
    days on market $1,299,999 Active 129 DOM
13. 2026-07-30
    days on market $1,299,999 Active 128 DOM
14. 2026-07-30
    days on market $1,299,999 Active 127 DOM
15. 2026-07-26
    days on market $1,299,999 Active 124 DOM
16. 2026-07-24
    days on market $1,299,999 Active 122 DOM
17. 2026-07-23
    days on market $1,299,999 Active 121 DOM
18. 2026-07-22
    days on market $1,299,999 Active 120 DOM
19. 2026-07-21
    days on market $1,299,999 Active 119 DOM
20. 2026-07-20
    days on market $1,299,999 Active 118 DOM
21. 2026-07-18
    days on market $1,299,999 Active 116 DOM
22. 2026-07-18
    days on market $1,299,999 Active 115 DOM
23. 2026-07-16
    days on market $1,299,999 Active 114 DOM
24. 2026-07-14
    days on market $1,299,999 Active 112 DOM
25. 2026-07-14
    days on market $1,299,999 Active 111 DOM
26. 2026-07-13
    days on market $1,299,999 Active 110 DOM
27. 2026-07-11
    days on market $1,299,999 Active 109 DOM
28. 2026-07-10
    days on market $1,299,999 Active 108 DOM
29. 2026-07-09
    days on market $1,299,999 Active 107 DOM
30. 2026-07-07
    days on market $1,299,999 Active 105 DOM
31. 2026-07-06
    days on market $1,299,999 Active 104 DOM
32. 2026-07-05
    days on market $1,299,999 Active 102 DOM
33. 2026-07-03
    days on market $1,299,999 Active 101 DOM
34. 2026-07-02
    days on market $1,299,999 Active 100 DOM
35. 2026-07-01
    days on market $1,299,999 Active 99 DOM
36. 2026-06-30
    days on market $1,299,999 Active 98 DOM
37. 2026-06-29
    days on market $1,299,999 Active 97 DOM
38. 2026-06-28
    days on market $1,299,999 Active 96 DOM
39. 2026-06-27
    days on market $1,299,999 Active 95 DOM
40. 2026-06-26
    days on market $1,299,999 Active 94 DOM
41. 2026-06-24
    days on market $1,299,999 Active 92 DOM
42. 2026-06-22
    days on market $1,299,999 Active 90 DOM
43. 2026-06-21
    days on market $1,299,999 Active 89 DOM
44. 2026-06-18
    days on market $1,299,999 Active 86 DOM
45. 2026-06-17
    days on market $1,299,999 Active 85 DOM
46. 2026-06-15
    days on market $1,299,999 Active 83 DOM
47. 2026-06-13
    days on market $1,299,999 Active 81 DOM
48. 2026-06-10
    days on market $1,299,999 Active 77 DOM
49. 2026-06-08
    days on market $1,299,999 Active 76 DOM
50. 2026-06-08
    days on market $1,299,999 Active 75 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $119,184
• − Mortgage interest: −$72,820
• − Property taxes: −$19,500
• − Insurance: −$6,500
• − Repairs & maintenance: −$9,535
• − Management: −$9,535
• − Depreciation: −$37,818
• Taxable loss: −$36,524
• Est. tax savings @ 24.0%: +$8,766
• After-tax cash flow: $-4,887/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $26,580–$79,740 screening

This six-unit multifamily property is in good condition with no major repairs needed. It has a strong investment opportunity with a stable tenant base and future upside upon legal vacancy.

Value-add opportunities

• Both Paint the exterior walls and trim — Painting the exterior walls and trim will improve the curb appeal and increase the property's resale and rental value. ↑
• Both Upgrade the HVAC system — Upgrading the HVAC system will improve the comfort and energy efficiency of the property, which will increase its resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Ps 29 C+ NY #842/2,108 Nat'l #8,534/41,679 Middle Cornerstone Academy For Social Action Middle School (Casa) F NY #611/729 Nat'l #10,474/14,009 High New World High School B+ NY #665/1,100 Nat'l #1,809/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 2,546,320 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,824
• Household income: $86,730
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 42% Asian 35% White 21% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 8%
• Common ancestry: Romanian 1%
• Foreign-born: 53% · Canada, China, South Korea
• Languages at home: 26% English-only · Spanish 35% Chinese 23% Other Indo-European 8%

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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: ▼ -95.50%
• Current HPI: 235.1217
• Rent YoY: ▲ 12.13%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Exterior

• Parking: Driveway parkingThree total parking spaces
• Security: Fire alarmFire escapeFire sprinkler systemSecurity systemVideo cameras
• Utilities: Public sewerCable availableElectricity availableNatural gas available
• Home design: Quadruplex
• Construction: Brick and stucco construction
• Exterior features: Brick and stucco exteriorChain link fencingNot waterfront

Interior

• Bedrooms: One 4-bedroom unit
• Flooring: Ceramic tileHardwoodLaminate
• Bathrooms: Six full bathrooms
• Heating & cooling: Natural gas heating with separate metersWall/window air conditioning units
• Interior features: First-floor bedroomFirst-floor full bathroomBuilt-in featuresNatural woodworkFull unfinished basement with storage space and walk-out access
• Laundry & utility: Laundry in basement

Price history

+0.0% since first listed

2 events — show timeline

• 2026-03-24 Listed $1,299,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Coming Soon $1,299,999 OneKey® MLS as Distributed by MLS Grid