14227 122nd Ave · New York, NY 11436

$833,200

6 bd · 5.0 ba · 2,376 sqft · MultiFamily public records · 89 Days on market

Built 2002 5,332 sqft lot Est $1264k · 34% 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 +13.1/30.0
• Schools +5.0/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• 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

Occupied REO property being sold as is. No interior access available. Property features include approximately 6 beds, 2 full baths & 2 half baths, and approx. 2,376 square footage, based on available records. Conveniently located with access to nearby roads and amenities.

Key facts

• 5,332 sq ft lot
• Built 2002
• Listed 89 days

Property features AI

Finance

• Other: Property marketed as a multi-unit duplex
• Financial info: Tax year 2025

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Utilities: See remarks
• Home design: Duplex; Total building area approximately 2,376 sq. ft. (appraiser)
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Other heating; No cooling
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $833k.

Deal economics

• At list price, monthly cash flow is $-38 ($-451/yr) — negative. Per door: $-19/mo.
• To cash-flow at today's rent, offer at most $827k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $681k (18.3% below list).
• Recommended offer: $681k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: 97 active listings in the ZIP; 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 $6k of loan paydown is wiped out by about $25k 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 89 days — a 6% lower offer ($783k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $833k implies a 495% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 53% 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 $680,700 (18.3% 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 89 days. Have you received any prior offers? Is the seller open to a 18% 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. 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: 0.82% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $1,264,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117-18 145 St	0.25mi	6/5.0	2,500 (+5%)	3mo	$1,400,000	$560	78
13016 Inwood St	0.41mi	6/5.0	2,304 (-3%)	3mo	$1,225,000	$532	73
115-42 Inwood St	0.46mi	6/5.0	2,400 (+1%)	7mo	$1,415,000	$590	71
11628 Van Wyck Expy	0.44mi	6/3.0	2,350 (-1%)	8mo	$1,070,000	$455	63
130-47 145th St	0.46mi	6/5.0	2,510 (+6%)	10mo	$1,450,000	$578	61
153-23 123 Ave	0.50mi	6/4.0	2,500 (+5%)	5mo	$1,180,000	$472	60
13031 Inwood St	0.45mi	6/5.0	2,200 (-7%)	11mo	$1,325,000	$602	57
12808 Sutter Ave	0.73mi	6/3.0	2,300 (-3%)	6mo	$1,165,000	$507	47
13023 149th St	0.58mi	6/2.0	2,500 (+5%)	8mo	$991,000	$396	46
115-08 145 St	0.51mi	6/3.0	2,024 (-15%)	8mo	$999,999	$494	36
131-17 133 St	0.57mi	6/2.0	2,100 (-12%)	10mo	$1,180,000	$562	34
14717 N Conduit Ave	0.64mi	6/2.0	2,024 (-15%)	4mo	$995,000	$492	30

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-137,518
• Equity at exit: $124,233

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-123,271
• Equity at exit: $72,040

Cash invested: $233,296 (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 11436

• Home prices YoY: -30.8%
• Active inventory: 97
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $6,807 high
• Mortgage (P&I): −$4,369
• Tax from tax record: −$699 /mo · $8,383/yr
• Insurance: −$347
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,429
• Net cashflow: $-38

Break-even live

Break-even rent $6,855

Max offer price $826,556

Occupancy floor 96%

Sensitivity live

Price	-10% $434	-5% $198	+0% $-38	+5% $-273	+10% $-509
Rent	-10% $-575	-5% $-306	+0% $-38	+5% $231	+10% $500
Rate	-1.0pp $382	-0.5pp $174	base $-38	+0.5pp $-254	+1.0pp $-473

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$6,808
Total (2 units)			$6,807

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: $208,300
• Closing costs: $24,996
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $833,200 Active 89 DOM
2. 2026-06-18
   days on market $833,200 Active 86 DOM
3. 2026-06-17
   days on market $833,200 Active 85 DOM
4. 2026-06-15
   days on market $833,200 Active 83 DOM
5. 2026-06-13
   days on market $833,200 Active 81 DOM
6. 2026-06-10
   days on market $833,200 Active 77 DOM
7. 2026-06-08
   days on market $833,200 Active 76 DOM
8. 2026-06-08
   days on market $833,200 Active 75 DOM
9. 2026-06-04
   days on market $833,200 Active 72 DOM
10. 2026-06-03
    days on market $833,200 Active 71 DOM
11. 2026-06-01
    days on market $833,200 Active 69 DOM
12. 2026-05-31
    days on market $833,200 Active 68 DOM
13. 2026-04-24
    price $833,200
14. 2026-04-16
    price $837,400
15. 2026-03-26
    price $845,300
16. 2026-03-24
    listed $837,400 Active
17. 2001-06-12
    soldstatus $140,000

ⓘ 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: $8,383 · $699/mo
• Projected year-2 tax: $11,232 · $936/mo
• Expected delta: +$2,849/yr (+$237/mo · 34.0%)

ⓘ 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 · 16 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: $81,684
• − Mortgage interest: −$46,672
• − Property taxes: −$8,383
• − Insurance: −$4,166
• − Repairs & maintenance: −$6,535
• − Management: −$6,535
• − Depreciation: −$24,239
• Taxable loss: −$14,845
• Est. tax savings @ 24.0%: +$3,563
• After-tax cash flow: $3,111/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): 21,364

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 59% Hispanic / Latino 12% Two or more races 11% Asian 7% White 1%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Hispanic 4%
• Foreign-born: 48% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 8% French/Haitian/Cajun 5% Other Indo-European 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: ▼ -194.32%
• Current HPI: 437.2442
• 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

+495.1% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $833,200 OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $837,400 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $845,300 OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Listed $837,400 OneKey® MLS as Distributed by MLS Grid
• 2001-06-12 Sold (Public Records) $140,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $8,383 · -0.2% YoY. Source: county tax records.