484 Beach 44th St · New York, NY 11691

$899,999

6 bd · 5.0 ba · 2,288 sqft · MultiFamily public records · 105 Days on market

Built 2004 2,862 sqft lot Est $808k · 11% over

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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 +14.5/30.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• 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

Spacious 2-family property offering three full levels of living space. The first floor features 3 bedrooms, a living/dining room, open-concept kitchen, and 2 full bathrooms. The 2nd floor offers 3 bedrooms, living/dining room, open-concept kitchen, and 2 full bathrooms. Full finished basement with a separate entrance provides additional versatile space. This property also features a private driveway. Ideal opportunity for owner-occupants or investors seeking space and income potential.

Key facts

• Private driveway
• 2,862 sq ft lot
• 3 parking spots

Tags

• FULL FINISHED BASEMENT
• PRIVATE DRIVEWAY

Property features AI

Exterior

• Parking: 3-space carport; Driveway; Private parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Duplex
• Construction: Stucco and vinyl siding construction
• Exterior features: Not waterfront; Stucco and vinyl siding exterior

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 3-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Eat-in kitchen; ENERGY STAR qualified doors; Finished full basement (see remarks)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $-236 ($-3k/yr) — negative. Per door: $-118/mo.
• To cash-flow at today's rent, offer at most $858k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $726k (19.3% below list).
• Recommended offer: $726k (19.3% 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: 140 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $7,262/mo this rent would consume 155% 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 $6k of loan paydown is wiped out by about $27k 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 105 days — a 9% lower offer ($819k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $726,200 (19.3% 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 105 days. Have you received any prior offers? Is the seller open to a 19% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.81% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $807,664
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
449 Beach 45 St	0.09mi	6/4.0	2,400 (+5%)	6mo	$970,000	$404	78
472 Beach 43rd St	0.05mi	6/4.0	2,000 (-13%)	2mo	$800,000	$400	71
426 Beach 44th St	0.11mi	5/2.0 (-1)	2,080 (-9%)	1mo	$525,000	$252	62
1051 Bay 32nd St	0.48mi	6/4.0	2,392 (+4%)	6mo	$845,000	$353	61
2810 Brookhaven Ave	0.72mi	6/2.0	2,352 (+3%)	7mo	$790,400	$336	44

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-160,903
• Equity at exit: $134,193

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-159,626
• Equity at exit: $77,815

Cash invested: $252,000 (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 11691

• Active inventory: 140
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $7,262 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$452 /mo · $5,419/yr
• Insurance: −$375
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,525
• Net cashflow: $-236

Break-even live

Break-even rent $7,561

Max offer price $858,333

Occupancy floor 98%

Sensitivity live

Price	-10% $274	-5% $19	+0% $-236	+5% $-491	+10% $-745
Rent	-10% $-810	-5% $-523	+0% $-236	+5% $51	+10% $338
Rate	-1.0pp $217	-0.5pp $-7	base $-236	+0.5pp $-469	+1.0pp $-706

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$7,262
Total (2 units)			$7,262

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $899,999 Active 105 DOM
2. 2026-06-18
   days on market $899,999 Active 102 DOM
3. 2026-06-17
   days on market $899,999 Active 101 DOM
4. 2026-06-15
   days on market $899,999 Active 99 DOM
5. 2026-06-13
   days on market $899,999 Active 97 DOM
6. 2026-06-10
   days on market $899,999 Active 93 DOM
7. 2026-06-08
   days on market $899,999 Active 92 DOM
8. 2026-06-08
   days on market $899,999 Active 91 DOM
9. 2026-06-04
   days on market $899,999 Active 88 DOM
10. 2026-06-03
    days on market $899,999 Active 87 DOM
11. 2026-06-01
    days on market $899,999 Active 85 DOM
12. 2026-05-31
    days on market $899,999 Active 84 DOM
13. 2026-03-09
    price $899,999
14. 2026-03-08
    listed $8 Active
15. 2021-10-13
    soldstatus $800,000
16. 2019-01-24
    soldstatus $640,000

ⓘ 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: $5,419 · $452/mo
• Projected year-2 tax: $10,315 · $860/mo
• Expected delta: +$4,895/yr (+$408/mo · 90.3%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°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: $87,144
• − Mortgage interest: −$50,414
• − Property taxes: −$5,419
• − Insurance: −$9,618
• − Repairs & maintenance: −$6,972
• − Management: −$6,972
• − Depreciation: −$26,182
• Taxable loss: −$18,433
• Est. tax savings @ 24.0%: +$4,424
• After-tax cash flow: $1,593/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

+40.6% since first listed

4 events — show timeline

• 2026-03-09 Price Changed $899,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-08 Listed $8 OneKey® MLS as Distributed by MLS Grid
• 2021-10-13 Sold (Public Records) $800,000 Public Records
• 2019-01-24 Sold (Public Records) $640,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $5,419 · -2.4% YoY. Source: county tax records.