12212 6th Ave · New York, NY 11356

$679,999

4 bd · 2.0 ba · 1,296 sqft · MultiFamily public records · 45 Days on market

Built 1935 2,500 sqft lot Est $911k · 25% 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 +11.3/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• 1% rule +2.9/10.0
• 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

Detached Brick 2-family. 1st floor tenant occupied, 2nd floor vacant, no basement. House needs updating.

Key facts

• 2,500 sq ft lot
• 4 parking spots
• Built 1935

Property features AI

Exterior

• Parking: Private off-street parking accessed via driveway (4 parking spaces total); No carport
• Utilities: Con Edison electric service; Natural gas connected; Cable available; Public sewer
• Home design: Duplex; Fixer condition
• Construction: Brick construction; Slab foundation
• Exterior features: Garden; Mailbox

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: Two 2-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating; No central cooling
• Interior features: First-floor bedroom; Eat-in kitchen; Natural woodwork; Patio
• Laundry & utility: No basement (no lower-level utility space listed)

🏷️ Possibly a rental listed for sale. The $679,999 price doesn't fit this home's estimated sale value (~$911,088) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $680k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative. Per door: $-125/mo.
• To cash-flow at today's rent, offer at most $636k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $534k (21.5% below list).
• Recommended offer: $534k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Market conditions: Rents rising fast (+12.1%/yr); 132 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $5,340/mo this rent would consume 74% of the median local household income ($87k/yr) (locally 1545% 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 $5k of loan paydown is wiped out by about $20k 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 45 days — a 3% lower offer ($660k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $534,000 (21.5% 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 45 days. Have you received any prior offers? Is the seller open to a 21% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.79% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.58%
• DSCR: 0.93
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $911,088
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125-13 6th Ave	0.15mi	4/2.0	1,252 (-3%)	0mo	$880,000	$703	87
123-13 13th Ave	0.31mi	4/2.0	1,296 (0%)	10mo	$900,000	$694	78

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.49×
• Total profit: $-97,954
• Equity at exit: $101,390

10-year hold

• IRR: 1.4%
• Equity multiple: 1.12×
• Total profit: $22,393
• Equity at exit: $58,794

Cash invested: $190,400 (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 11356

• Home prices YoY: -28.9%
• Rents YoY: 12.1%
• Active inventory: 132
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $5,340 medium
• Mortgage (P&I): −$3,566
• Tax from tax record: −$619 /mo · $7,432/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,121
• Net cashflow: $-250

Break-even live

Break-even rent $5,656

Max offer price $635,830

Occupancy floor 100%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,340
Total (2 units)			$5,340

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: $170,000
• Closing costs: $20,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1332 130th St College Point, NY	3.0	1.0	1388	$3,000	$2.16	15d	1	0.47mi
1332 130th St College Point, NY	3.0	1.0	1388	$2,850	$2.05	25d	1	0.47mi
114-09 Taipei Ct Unit 2fl Flushing, NY	3.0	2.5	1600	$3,500	$2.19	25d	1	0.52mi
7 Dune Ct Unit 1 Bronx, NY	4.0	2.5	1600	$4,300	$2.69	25d	1	1.37mi

Listing history 3 events

1. 2026-05-04
   status Pending
2. 2026-03-21
   listed $679,999 Active
3. 2026-03-18
   historical $679,999

ⓘ 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: $7,432 · $619/mo
• Projected year-2 tax: $9,462 · $788/mo
• Expected delta: +$2,030/yr (+$169/mo · 27.3%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $64,080
• − Mortgage interest: −$38,091
• − Property taxes: −$7,432
• − Insurance: −$3,400
• − Repairs & maintenance: −$5,126
• − Management: −$5,126
• − Depreciation: −$19,782
• Taxable loss: −$14,877
• Est. tax savings @ 24.0%: +$3,570
• After-tax cash flow: $570/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): 25,824
• Household income: $86,730
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1545.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 42% Asian 35% White 21% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 8%
• Common ancestry: Romanian 1%
• Foreign-born: 53% · Canada, China, South Korea
• Languages at home: 26% English-only · Spanish 35% Chinese 23% Other Indo-European 8%

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: ▼ -95.50%
• Current HPI: 235.1217
• Rent YoY: ▲ 12.13%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-21 Listed $679,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-18 Coming Soon $679,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $7,432 · +3.4% YoY. Source: county tax records.