245-11 149th Rd · New York, NY 11422

$999,999

6 bd · 2.0 ba · 2,750 sqft · MultiFamily public records · 14 Days on market

Built 1960 4,000 sqft lot Est $1540k · 35% 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 +12.0/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Welcome to 245-11 149th Drive, a well-maintained duplex located in the heart of Rosedale, Queens! This home offers a flexible layout with multiple living spaces, making it ideal for a variety of living arrangements. Conveniently located near major highways, public transportation, local shops, restaurants, schools, and parks, this property provides easy access to everything you need for everyday living. Situated on a quiet residential block while still close to it all, this home blends comfort, space, and convenience. Photos coming soon!

Key facts

• 4,000 sq ft lot
• Built 1960
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $-238 ($-3k/yr) — negative. Per door: $-119/mo.
• To cash-flow at today's rent, offer at most $958k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $764k (23.6% below list).
• Recommended offer: $764k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $300k; list at $1000k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $764,100 (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. 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.76% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $1,540,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147- 26 240th St	0.42mi	6/5.0	2,658 (-3%)	6mo	$1,325,000	$498	57
243-33 Caney Rd	0.56mi	6/2.0	2,338 (-15%)	5mo	$800,000	$342	45
13937 253rd St	0.70mi	6/5.0	2,500 (-9%)	8mo	$1,400,000	$560	33
257-16 145 Ave	0.52mi	6/5.0	2,400 (-13%)	14mo	$1,350,000	$563	31

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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-177,505
• Equity at exit: $149,103

10-year hold

• IRR: -10.3%
• Equity multiple: 0.37×
• Total profit: $-175,242
• Equity at exit: $86,462

Cash invested: $280,000 (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 11422

• Active inventory: 107
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $7,641 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$614 /mo · $7,369/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,605
• Net cashflow: $-238

Break-even live

Break-even rent $7,943

Max offer price $957,877

Occupancy floor 98%

Sensitivity live

Price	-10% $328	-5% $45	+0% $-238	+5% $-521	+10% $-805
Rent	-10% $-842	-5% $-540	+0% $-238	+5% $63	+10% $365
Rate	-1.0pp $265	-0.5pp $16	base $-238	+0.5pp $-498	+1.0pp $-761

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$7,642
Total (2 units)			$7,641

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
559 Linda Ln Woodmere, NY	5.0	4.5	2390	$7,000	$2.93	44d	1	1.29mi

Listing history 4 events

1. 2026-04-16
   status Pending
2. 2026-02-05
   listed $999,999 Active
3. 1999-07-15
   soldstatus $300,000
4. 1993-05-26
   soldstatus $260,000

ⓘ 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: $7,369 · $614/mo
• Projected year-2 tax: $12,134 · $1,011/mo
• Expected delta: +$4,766/yr (+$397/mo · 64.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $91,692
• − Mortgage interest: −$56,015
• − Property taxes: −$7,369
• − Insurance: −$5,000
• − Repairs & maintenance: −$7,335
• − Management: −$7,335
• − Depreciation: −$29,091
• Taxable loss: −$20,454
• Est. tax savings @ 24.0%: +$4,909
• After-tax cash flow: $2,048/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
• City population: 7,731,280
• Population (ZIP): 33,085

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 9% Two or more races 7% White 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12%
• Foreign-born: 40% · Canada, Mexico, China
• Languages at home: 73% English-only · French/Haitian/Cajun 13% Spanish 8% Other Indo-European 1%

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: ▼ -394.74%
• Current HPI: 284.6464
• Rent YoY: —
• Metro: —
• 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

+284.6% since first listed

4 events — show timeline

• 2026-04-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-05 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 1999-07-15 Sold (Public Records) $300,000 Public Records
• 1993-05-26 Sold (Public Records) $260,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $7,369 · -2.5% YoY. Source: county tax records.