3416 103rd St · New York, NY 11368

$1,449,000

9 bd · 3.9 ba · 2,360 sqft · MultiFamily public records · 168 Days on market

Built 1933 2,759 sqft lot Est $1430k · at est.

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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).

• Appreciation +8.7/10.0
• Cash flow +8.6/30.0
• ARV discount +6.9/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

, Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

Key facts

• Multifamily property
• Major roadways
• Local amenities

Tags

• MULTIFAMILY PROPERTY
• PRIVATE GATED FRONT ENTRANCE
• HIGH-DEMAND NEIGHBORHOOD
• PUBLIC TRANSPORTATION
• MAJOR ROADWAYS
• LOCAL AMENITIES

Property features AI

Finance

• Financial info: Tax year 2024 (tax amount reported)

Exterior

• Parking: On-street parking
• Utilities: Con-Edison electric service; Public sewer; Cable available and connected; Electricity available and connected; Natural gas available and connected; Public trash collection
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick construction; Back yard; Front yard; Fully fenced yard; Irregular lot

Interior

• Bedrooms: Four 1-bedroom units
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative. Per door: $-442/mo.
• To cash-flow at today's rent, offer at most $1.21M (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.00M (30.8% below list).
• Recommended offer: $1.00M (30.8% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: Ps 92 Harry T Stewart Sr (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 829 students, 81% 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: 246 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,027/mo this rent would consume 166% of the median local household income ($72k/yr) (locally 6817% 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 $117k of equity ($10k loan paydown + $107k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$188k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $960k; list at $1.45M implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $1,002,700 (30.8% 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 168 days. Have you received any prior offers? Is the seller open to a 31% 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 1933 — 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: 0.69% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $1,430,160
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31-15 101st St	0.40mi	8/— (-1)	2,400 (+2%)	7mo	$1,150,000	$479	68
101-16 32nd Ave	0.29mi	10/6.0 (+1)	2,211 (-6%)	6mo	$1,360,000	$615	58
102-33 46th Ave	0.66mi	8/3.0 (-1)	2,310 (-2%)	14mo	$1,400,000	$606	46
10205 46th Ave	0.67mi	8/5.0 (-1)	2,070 (-12%)	3mo	$1,183,000	$571	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 2.13×
• Total profit: $457,077
• Equity at exit: $1,042,199

10-year hold

• IRR: 15.3%
• Equity multiple: 4.42×
• Total profit: $1,388,343
• Equity at exit: $2,015,195

Cash invested: $405,720 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 246
• Price-to-rent: 36.1×

Monthly cashflow live

• Estimated rent: $10,027 high
• Mortgage (P&I): −$7,599
• Tax from tax record: −$977 /mo · $11,727/yr
• Insurance: −$604
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,106
• Net cashflow: $-1,325

Break-even live

Break-even rent $11,704

Max offer price $1,214,955

Occupancy floor —

Sensitivity live

Price	-10% $-505	-5% $-915	+0% $-1,325	+5% $-1,735	+10% $-2,145
Rent	-10% $-2,117	-5% $-1,721	+0% $-1,325	+5% $-929	+10% $-533
Rate	-1.0pp $-595	-0.5pp $-956	base $-1,325	+0.5pp $-1,700	+1.0pp $-2,082

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$10,026
Total (3 units)			$10,027

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: $362,250
• Closing costs: $43,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $1,449,000 Active 168 DOM
2. 2026-06-21
   days on market $1,449,000 Active 167 DOM
3. 2026-06-18
   days on market $1,449,000 Active 164 DOM
4. 2026-06-17
   days on market $1,449,000 Active 163 DOM
5. 2026-06-15
   days on market $1,449,000 Active 161 DOM
6. 2026-06-13
   days on market $1,449,000 Active 159 DOM
7. 2026-06-10
   days on market $1,449,000 Active 155 DOM
8. 2026-06-08
   days on market $1,449,000 Active 154 DOM
9. 2026-06-04
   days on market $1,449,000 Active 150 DOM
10. 2026-06-03
    days on market $1,449,000 Active 149 DOM
11. 2026-06-01
    days on market $1,449,000 Active 147 DOM
12. 2026-05-31
    days on market $1,449,000 Active 146 DOM
13. 2026-04-07
    price $1,449,000
14. 2026-01-05
    listed $1,499,000 Active
15. 2017-04-06
    soldstatus $960,000
16. 2017-03-31
    soldstatus $960,000 Closed 75-char remark

    Show marketing remark (75 chars)

    , Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

17. 2016-07-29
    status Under Contract 75-char remark

    Show marketing remark (75 chars)

    , Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

18. 2016-06-21
    listed $959,000 New 75-char remark

    Show marketing remark (75 chars)

    , Additional information: Appearance:Excellent,Separate Hotwater Heater:Yes

ⓘ 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: $11,727 · $977/mo
• Projected year-2 tax: $18,108 · $1,509/mo
• Expected delta: +$6,380/yr (+$532/mo · 54.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $120,324
• − Mortgage interest: −$81,167
• − Property taxes: −$11,727
• − Insurance: −$8,042
• − Repairs & maintenance: −$9,626
• − Management: −$9,626
• − Depreciation: −$42,153
• Taxable loss: −$42,017
• Est. tax savings @ 24.0%: +$10,084
• After-tax cash flow: $-5,814/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% 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: ▲ 7.40%
• Current HPI: 282.8276
• 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

+51.1% since first listed

6 events — show timeline

• 2026-04-07 Price Changed $1,449,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Listed $1,499,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-06 Sold (Public Records) $960,000 Public Records
• 2017-03-31 Sold (MLS) $960,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2016-06-21 Listed $959,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2024): $11,727 · +5.2% YoY. Source: county tax records.