186-46 139th Ave · New York, NY 11413

$850,000

4 bd · 3.0 ba · 1,858 sqft · MultiFamily public records · 284 Days on market

Built 1960 Est $892k · at est. ↓ 14% since listing

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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 +12.4/30.0
• ARV discount +9.6/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +2.8/10.0
• 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

This is a Two-family high ranch with a finished basement. This property was constructed in 1960 and is solid brick. It is fully tenanted, and seller occupies the basement. Please do not disturb tenant. Basement will be emptied at closing.

Key facts

• 320 garage spots
• Built 1960
• Listed 284 days

Property features AI

Exterior

• Parking: Has garage (listed garage spaces available)
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Public trash collection; Water available
• Home design: Duplex
• Construction: Block and brick construction
• Exterior features: No waterfront; No additional parcels

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One bedroom with four-bedroom count indicated (multi-unit info)
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Finished full basement
• Laundry & utility: Utilities include water and natural gas connections

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative. Per door: $-106/mo.
• To cash-flow at today's rent, offer at most $812k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $660k (22.3% below list).
• Recommended offer: $660k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: 197 active listings in the ZIP; 27 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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 284 days — a 12% lower offer ($748k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $250k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $660,400 (22.3% 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 284 days. Have you received any prior offers? Is the seller open to a 22% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.78% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $891,840
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14019 183rd St	0.22mi	4/2.0	1,800 (-3%)	2mo	$790,000	$439	79
22039 136th Ave	0.46mi	3/2.0 (-1)	1,650 (-11%)	1mo	$940,000	$570	50
172-18 144th Rd	0.65mi	4/2.0	1,943 (+5%)	14mo	$933,000	$480	47

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-151,438
• Equity at exit: $126,738

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-149,994
• Equity at exit: $73,492

Cash invested: $238,000 (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 11413

• Active inventory: 197
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $6,604 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$551 /mo · $6,617/yr
• Insurance: −$354
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,387
• Net cashflow: $-212

Break-even live

Break-even rent $6,873

Max offer price $812,479

Occupancy floor 98%

Sensitivity live

Price	-10% $269	-5% $28	+0% $-212	+5% $-453	+10% $-694
Rent	-10% $-734	-5% $-473	+0% $-212	+5% $48	+10% $309
Rate	-1.0pp $216	-0.5pp $4	base $-212	+0.5pp $-433	+1.0pp $-657

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,604
Total (2 units)			$6,604

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13719 Southgate St Springfield Gardens, NY	3.0	1.0	1672	$3,400	$2.03	26d	1	0.18mi
18021 140th Ave Jamaica, NY	3.0	2.0	2102	$3,800	$1.81	26d	1	0.32mi
138-26 223rd St #1 Jamaica, NY	4.0	1.0	2085	$4,000	$1.92	26d	1	0.35mi
176-34 133rd Ave Unit 2nd Floor Jamaica, NY	4.0	2.0	2244	$3,500	$1.56	26d	1	0.48mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	16d	1	0.49mi
13724 228th St Laurelton, NY	3.0	1.0	2478	$3,800	$1.53	26d	1	0.64mi
144-35 224th St Unit First Floor Jamaica, NY	3.0	2.0	1970	$3,800	$1.93	26d	1	0.64mi
179-12 145th Ave Unit 1 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	4d	1	0.67mi
179-12 145th Ave Unit 2 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	26d	1	0.67mi
228-20 Edgewood Ave Unit A Jamaica, NY	3.0	2.0	2208	$3,200	$1.45	26d	1	0.69mi
17845 145th Rd Jamaica, NY	3.0	1.0	2262	$3,150	$1.39	26d	1	0.70mi
14547 224th St Springfield Gardens, NY	3.0	1.0	1880	$3,500	$1.86	26d	1	0.77mi
14578 226th St Springfield Gardens, NY	3.0	1.5	2100	$3,600	$1.71	26d	1	0.86mi
230-38 144th Ave Unit 1st Floor Jamaica, NY	3.0	1.0	1922	$3,400	$1.77	26d	1	0.88mi
231-10 145th Ave Unit ONE Jamaica, NY	3.0	1.0	1872	$3,750	$2.00	24d	1	0.99mi
147-29 Springfield Ln Unit 1 Jamaica, NY	3.0	2.0	1980	$3,500	$1.77	18d	1	1.01mi
147-36 Springfield Ln Unit 1 Springfield Gardens, NY	3.0	2.0	1750	$3,500	$2.00	26d	1	1.02mi
167-11 144th Dr Unit 2nd Floor Jamaica, NY	3.0	1.0	2016	$3,850	$1.91	26d	1	1.11mi
13031 229th St Laurelton, NY	3.0	3.5	2500	$5,200	$2.08	24d	1	1.11mi
17129 119th Ave Jamaica, NY	3.0	2.0	2040	$3,700	$1.81	26d	1	1.24mi
13230 157th St Jamaica, NY	3.0	2.0	2316	$3,000	$1.30	4d	1	1.25mi
14019 247th St Rosedale, NY	3.0	2.0	2058	$4,100	$1.99	0d	1	1.36mi
15217 135th Ave Jamaica, NY	3.0	2.0	2478	$3,500	$1.41	26d	1	1.41mi
11542 175th St Unit 2 Queens, NY	4.0	2.0	1650	$4,200	$2.55	26d	1	1.47mi
238-23 148th Dr Unit 1st Floor Jamaica, NY	3.0	1.5	1435	$3,500	$2.44	20d	1	1.48mi
248-13 139th Ave Unit 2F Jamaica, NY	4.0	2.0	1500	$4,000	$2.67	6d	1	1.49mi
249-17 147th Rd Unit 1 Jamaica, NY	3.0	2.0	2000	$4,400	$2.20	0d	1	1.50mi

Listing history 19 events

1. 2026-06-21
   days on market $850,000 Active 284 DOM
2. 2026-06-18
   days on market $850,000 Active 281 DOM
3. 2026-06-17
   days on market $850,000 Active 280 DOM
4. 2026-06-15
   days on market $850,000 Active 278 DOM
5. 2026-06-13
   days on market $850,000 Active 276 DOM
6. 2026-06-10
   days on market $850,000 Active 272 DOM
7. 2026-06-08
   days on market $850,000 Active 271 DOM
8. 2026-06-03
   days on market $850,000 Active 266 DOM
9. 2026-06-01
   days on market $850,000 Active 264 DOM
10. 2026-05-31
    days on market $850,000 Active 263 DOM
11. 2025-11-24
    price $850,000
12. 2025-10-25
    price $950,000
13. 2025-09-09
    listed $1,100,000 Active
14. 2023-09-14
    historical
15. 2023-08-08
    price $759,000
16. 2023-07-29
    listed $900,000 Active
17. 2019-05-01
    historical
18. 2019-02-07
    price $759,000
19. 2018-09-04
    listed $989,000 New

ⓘ 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: $6,617 · $551/mo
• Projected year-2 tax: $10,491 · $874/mo
• Expected delta: +$3,874/yr (+$323/mo · 58.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $79,248
• − Mortgage interest: −$47,613
• − Property taxes: −$6,617
• − Insurance: −$5,048
• − Repairs & maintenance: −$6,340
• − Management: −$6,340
• − Depreciation: −$24,727
• Taxable loss: −$17,437
• Est. tax savings @ 24.0%: +$4,185
• After-tax cash flow: $1,636/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): 45,072

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 (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 9% Two or more races 4% Asian 2% White 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 39% · Canada, Mexico
• Languages at home: 84% English-only · French/Haitian/Cajun 7% Spanish 6% 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: ▼ -390.89%
• Current HPI: 311.5327
• 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

-14.1% since first listed

9 events — show timeline

• 2025-11-24 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-25 Price Changed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-09 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-08-08 Price Changed $759,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-29 Listed $900,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-02-07 Price Changed $759,000 OneKey® MLS as Distributed by MLS Grid
• 2018-09-04 Listed $989,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $6,617 · +3.4% YoY. Source: county tax records.