136 Meridian Blvd · New York, NY 11692

$1,055,000

4 bd · 3.0 ba · 2,220 sqft · MultiFamily public records · 55 Days on market

Built 2007 2,207 sqft lot Est $815k · 29% 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.2/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Live the beach lifestyle without sacrificing space, convenience, or income potential at 136 Meridian Boulevard in the highly desirable Arverne by the Sea community. Located just moments from the sand, this beautifully maintained duplex offers a rare opportunity to enjoy modern coastal living in one of Queens’ most unique waterfront neighborhoods. The main residence spans three levels and features a spacious three-bedroom layout designed for both everyday comfort and entertaining. Enjoy central air, central vacuum, first-floor laundry, private backyard space, rear-access garage parking, and an incredible rooftop deck with ocean views — the perfect place to unwind after a day at t

Key facts

• 2,207 sq ft lot
• Garage
• Built 2007

Property features AI

Finance

• HOA & community: HOA/community maintenance fee of $275 quarterly; Community features include playground and sidewalks

Exterior

• Parking: Driveway; Private garage; 5 parking spaces (total); 1 garage space
• Utilities: Con-Edison electric service; Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone connected; Sewer connected; Public trash collection; Water connected
• Home design: Duplex
• Construction: Vinyl siding
• Exterior features: Private roof; Back yard; Views; Waterfront

Interior

• Bedrooms: One 1‑bedroom unit; One 3‑bedroom unit
• Flooring: Wood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Central vacuum; Pantry; Storage; Oversized windows; Terrace
• Laundry & utility: Laundry in multiple locations

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-620/mo.
• To cash-flow at today's rent, offer at most $836k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $656k (37.8% below list).
• Recommended offer: $656k (37.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: 80 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,563/mo this rent would consume 158% of the median local household income ($50k/yr) (locally 1734% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $113k of equity ($7k loan paydown + $106k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$181k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $656,300 (37.8% 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 55 days. Have you received any prior offers? Is the seller open to a 38% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.62% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 13.4

CMA / ARV

• ARV (on-the-fly): $814,740
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6523 Seaspray Ave	0.26mi	4/3.0	2,258 (+2%)	8mo	$1,170,000	$518	79
193 Beach 59th St	0.60mi	5/3.0 (+1)	2,052 (-8%)	6mo	$710,000	$346	49
69-43 Thursby Ave	0.45mi	5/2.0 (+1)	2,068 (-7%)	12mo	$810,000	$392	49
345 Beach 73rd St	0.31mi	5/2.0 (+1)	1,926 (-13%)	13mo	$550,000	$286	43
6235 Burchell Rd	0.68mi	5/3.0 (+1)	2,000 (-10%)	5mo	$867,347	$434	42
65-05 Beach Channel Dr	0.42mi	5/2.0 (+1)	2,024 (-9%)	21mo	$700,000	$346	40
609 Beach 63rd St	0.74mi	5/2.0 (+1)	2,068 (-7%)	7mo	$565,000	$273	39
618 Beach 67th St	0.68mi	4/2.0	1,946 (-12%)	12mo	$715,000	$367	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $495,221
• Equity at exit: $950,428

10-year hold

• IRR: 18.8%
• Equity multiple: 6.14×
• Total profit: $1,519,548
• Equity at exit: $2,049,633

Cash invested: $295,400 (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 11692

• Home prices YoY: 14.4%
• Active inventory: 80
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $6,563 medium
• Mortgage (P&I): −$5,533
• Tax from tax record: −$452 /mo · $5,422/yr
• Insurance: −$440
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,378
• Net cashflow: $-1,239

Break-even live

Break-even rent $8,132

Max offer price $836,086

Occupancy floor —

Sensitivity live

Price	-10% $-642	-5% $-941	+0% $-1,239	+5% $-1,538	+10% $-1,836
Rent	-10% $-1,758	-5% $-1,498	+0% $-1,239	+5% $-980	+10% $-721
Rate	-1.0pp $-708	-0.5pp $-971	base $-1,239	+0.5pp $-1,513	+1.0pp $-1,791

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$6,562
Total (2 units)			$6,563

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: $263,750
• Closing costs: $31,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	26d	1	0.26mi
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	26d	1	0.41mi
1-76 Beach 97th St Unit 3 Rockaway Beach, NY	3.0	1.0	1500	$4,000	$2.67	9d	1	1.04mi
2-27R Beach 99th St Rockaway Park, NY	3.0	1.0	2208	$3,500	$1.59	26d	1	1.18mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	26d	1	1.21mi

Listing history 16 events

1. 2026-06-21
   days on market $1,055,000 Active 55 DOM
2. 2026-06-18
   days on market $1,055,000 Active 52 DOM
3. 2026-06-17
   days on market $1,055,000 Active 51 DOM
4. 2026-06-16
   days on market $1,055,000 Active 50 DOM
5. 2026-06-15
   days on market $1,055,000 Active 49 DOM
6. 2026-06-13
   days on market $1,055,000 Active 47 DOM
7. 2026-06-10
   days on market $1,055,000 Active 43 DOM
8. 2026-06-08
   days on market $1,055,000 Active 42 DOM
9. 2026-06-08
   days on market $1,055,000 Active 41 DOM
10. 2026-06-04
    days on market $1,055,000 Active 38 DOM
11. 2026-06-03
    days on market $1,055,000 Active 37 DOM
12. 2026-06-01
    days on market $1,055,000 Active 35 DOM
13. 2026-05-31
    days on market $1,055,000 Active 34 DOM
14. 2026-04-28
    listed $1,055,000 Active
15. 2026-04-27
    price $1,055,000
16. 2026-04-27
    historical $1,045,000

ⓘ 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: $5,422 · $452/mo
• Projected year-2 tax: $11,626 · $969/mo
• Expected delta: +$6,204/yr (+$517/mo · 114.4%)

ⓘ 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 ≥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: $78,756
• − Mortgage interest: −$59,096
• − Property taxes: −$5,422
• − Insurance: −$5,275
• − Repairs & maintenance: −$6,300
• − Management: −$6,300
• − Depreciation: −$30,691
• Taxable loss: −$34,330
• Est. tax savings @ 24.0%: +$8,239
• After-tax cash flow: $-6,632/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): 22,734
• Household income: $49,720
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1734.0

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 0.64)
• Race & ethnicity: Black 53% Hispanic / Latino 24% Two or more races 15% White 13% Asian 6%
• Hispanic origin (detail): Puerto Rican 10% Dominican 5%
• Common ancestry: Romanian 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 3%

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: ▲ 44.49%
• Current HPI: 354.2007
• 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

+1.0% since first listed

3 events — show timeline

• 2026-04-28 Listed $1,055,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $1,055,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Coming Soon $1,045,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+11.3%/yr

Latest (2025): $5,422 · +11.8% YoY. Source: county tax records.