442 Beach 68th St · New York, NY 11692

$899,999

None bd · None ba · 2,160 sqft · MultiFamily public records · 18 Days on market

Built 1950 3,500 sqft lot Est $793k · 14% 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 +15.5/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• DSCR +4.8/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0

Multi-family units

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

Listing remarks

Welcome to 442 Beach 68th Street, an incredible residential opportunity nestled in the heart of Arverne/Far Rockaway. This pristine, legal two-family home sits on a beautiful, quiet, tree-lined street and is ready for its next chapter. Whether you are looking for a high-yield investment or a spacious primary residence where the tenant pays your mortgage, this property checks every single box. The Layout: Unit 1: A sun-drenched 3-bedroom apartment with a spacious layout and modern finishes. Unit 2: A matching, bright 3-bedroom apartment perfect for premium rental income or extended family. Highlights: Delivered 100% Vacant: No tenant drama or lease handovers. Close and start renting or mov

Key facts

• Tree-lined street
• 3,500 sq ft lot
• Built 1950

Tags

• LEGAL TWO-FAMILY HOME
• TREE-LINED STREET
• DELIVERED 100 PERCENT VACANT
• TRUE MOVE-IN CONDITION
• PEACEFUL NEIGHBORHOOD VIBE
• CLOSE TO LOCAL SHOPPING

Property features AI

Exterior

• Parking: Private parking
• Utilities: Public sewer; Electricity connected; Water connected; Cable available; Sewer connected
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: Includes at least one bedroom on the first floor
• Bathrooms: Includes at least one full bath on the first floor
• Heating & cooling: Baseboard heating; No central cooling reported
• Interior features: First-floor bedroom; First-floor full bath; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $-70 ($-846/yr) — negative. Per door: $-35/mo.
• To cash-flow at today's rent, offer at most $888k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $736k (18.2% below list).
• Recommended offer: $736k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: 80 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $7,359/mo this rent would consume 178% 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 $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% 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 $735,900 (18.2% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $792,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
463 Beach 68th St	0.06mi	7/4.0	2,200 (+2%)	1mo	$905,000	$411	94
69-43 Thursby Ave	0.16mi	5/2.0	2,068 (-4%)	11mo	$810,000	$392	76
609 Beach 63rd St	0.32mi	5/2.0	2,068 (-4%)	7mo	$565,000	$273	72
6235 Burchell Rd	0.29mi	5/3.0	2,000 (-7%)	5mo	$867,347	$434	70
62-04 Hillmeyer Rd	0.44mi	6/4.0	2,200 (+2%)	10mo	$995,000	$452	68
6523 Seaspray Ave	0.40mi	4/3.0	2,258 (+4%)	8mo	$1,170,000	$518	67
193 Beach 59th St	0.44mi	5/3.0	2,052 (-5%)	6mo	$710,000	$346	66
65-05 Beach Channel Dr	0.16mi	5/2.0	2,024 (-6%)	21mo	$700,000	$346	65
618 Beach 67th St	0.25mi	4/2.0	1,946 (-10%)	12mo	$715,000	$367	62
156 Beach 60th St	0.46mi	6/2.0	2,386 (+10%)	2mo	$505,000	$212	60
345 Beach 73rd St	0.28mi	5/2.0	1,926 (-11%)	13mo	$550,000	$286	58
160 Beach 60 St	0.46mi	6/4.0	2,386 (+10%)	7mo	$760,000	$319	55

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: 24.0%
• Equity multiple: 2.93×
• Total profit: $485,579
• Equity at exit: $810,790

10-year hold

• IRR: 21.3%
• Equity multiple: 6.69×
• Total profit: $1,433,291
• Equity at exit: $1,748,500

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 11692

• Home prices YoY: 14.4%
• Active inventory: 80
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $7,359 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$363 /mo · $4,354/yr
• Insurance: −$375
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,545
• Net cashflow: $-70

Break-even live

Break-even rent $7,448

Max offer price $887,548

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$7,358
Total (2 units)			$7,359

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: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	24d	1	0.14mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	24d	1	0.47mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	24d	1	1.03mi
1-76 Beach 97th St Unit 3 Rockaway Beach, NY	3.0	1.0	1500	$4,000	$2.67	7d	1	1.30mi
2-27R Beach 99th St Rockaway Park, NY	3.0	1.0	2208	$3,500	$1.59	24d	1	1.42mi

Listing history 7 events

1. 2026-06-08
   days on market $899,999 Active 18 DOM
2. 2026-06-04
   days on market $899,999 Active 15 DOM
3. 2026-06-03
   days on market $899,999 Active 14 DOM
4. 2026-06-02
   days on market $899,999 Active 13 DOM
5. 2026-06-01
   days on market $899,999 Active 12 DOM
6. 2026-05-31
   days on market $899,999 Active 11 DOM
7. 2026-05-20
   listed $899,999 Active

ⓘ 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: $4,354 · $363/mo
• Projected year-2 tax: $9,782 · $815/mo
• Expected delta: +$5,428/yr (+$452/mo · 124.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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 6/10 Major 77% 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: $88,308
• − Mortgage interest: −$50,414
• − Property taxes: −$4,354
• − Insurance: −$9,618
• − Repairs & maintenance: −$7,065
• − Management: −$7,065
• − Depreciation: −$26,182
• Taxable loss: −$16,390
• Est. tax savings @ 24.0%: +$3,934
• After-tax cash flow: $3,088/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 event — show timeline

• 2026-05-20 Listed $899,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $4,354 · +6.8% YoY. Source: county tax records.