99-68 Rau Ct · New York, NY 11414

$324,900

None bd · None ba · — sqft · MultiFamily · 32 Days on market

4,781 sqft lot ↓ 21% since listing

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Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

A rare buildable lot tucked into one of Queens' most under-the-radar waterfront pockets. 99-68 Rau Court sits in Hamilton Beach, the small, tight-knit waterfront stretch on the eastern edge of Howard Beach. It's the kind of block most New Yorkers don't know exists. Quiet dead-end streets, Jamaica Bay a few minutes away, and neighbors who've been here for generations. The lot fronts Rau Court near Davenport, with the Hawtree Basin and bridge just down the road. The parcel measures 45' x 106.26' for a total of 4,781 square feet. Zoning is R3A and the lot supports a 1 or 2-family detached residence with a maximum floor area of approximately 3,586 square feet, with additional area potentially a

Key facts

• Buildable lot
• Hawtree basin
• Zoning r3a

Tags

• BUILDABLE LOT
• WATERFRONT POCKETS
• QUIET DEAD-END STREETS
• HAWTREE BASIN
• ZONING R3A
• MAXIMUM FLOOR AREA

Property features AI

Finance

• Financial info: Financing available: Bank mortgage or cash

Exterior

• Home design: Property type: Land; Located in Queens, Howard Beach; near 104th Street
• Exterior features: Vacant land parcel; R3A zoning

What this means for you Summary

Snapshot

• This is a multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (3.9% below list).
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $312k (3.9% below list) — sets the bar for cash-flow.
• Cap rate 7.5% 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: 260 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 41% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 32 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 70% 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 $312,257 (3.9% 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 32 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102-34 1st St St	0.11mi	—/—	—	4mo	$960,000	—	79
163-18 97th St	0.35mi	5/2.0	2,190	1mo	$995,000	$454	71
16140 98th St	0.33mi	6/5.0	2,183	3mo	$1,200,000	$550	69
96-15 165th Ave	0.42mi	7/4.0	2,599	4mo	$1,325,000	$510	65
159-06 100th St	0.49mi	3/2.0	1,623	0mo	$975,000	$601	64
96-20 160th Ave	0.48mi	5/2.0	1,911	3mo	$870,000	$455	63
15951 160th Ave	0.55mi	4/2.0	2,300	4mo	$1,048,000	$456	59
160-12 95th St	0.55mi	3/4.0	2,420	4mo	$1,245,000	$514	59
9519 160th Ave	0.53mi	5/2.0	2,286	5mo	$950,000	$416	59
15633 100th St	0.66mi	5/3.0	1,690	3mo	$850,000	$503	55
15721 98th St	0.70mi	5/2.0	2,348	1mo	$1,150,000	$490	54
15744 97th St	0.70mi	5/3.0	3,360	4mo	$1,030,000	$307	51

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: $-57,901
• Equity at exit: $48,444

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-56,320
• Equity at exit: $28,091

Cash invested: $90,972 (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 11414

• Active inventory: 260
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,271 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,874/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $-87

Break-even live

Break-even rent $3,382

Max offer price $312,257

Occupancy floor 98%

Sensitivity live

Price	-10% $137	-5% $25	+0% $-87	+5% $-200	+10% $-312
Rent	-10% $-346	-5% $-217	+0% $-87	+5% $42	+10% $171
Rate	-1.0pp $76	-0.5pp $-5	base $-87	+0.5pp $-172	+1.0pp $-257

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10215 Dunton Ct Howard Beach, NY	3.0	2.0	1100	$3,500	$3.18	25d	1	0.09mi
155-69 99th St Unit 2nd Floor Jamaica, NY	3.0	1.5	1500	$3,200	$2.13	21d	1	0.78mi
84-29 155th Ave Unit 5J Queens, NY	1.0	1.0	800	$2,500	$3.12	25d	1	1.34mi
8918 S Conduit Ave Howard Beach, NY	3.0	1.0	—	$3,760	—	25d	1	1.40mi
8439 153rd Ave Unit 5A Howard Beach, NY	1.0	1.0	800	$2,500	$3.12	25d	1	1.41mi

Listing history 29 events

1. 2026-06-21
   days on market $324,900 Active 32 DOM
2. 2026-06-18
   days on market $324,900 Active 29 DOM
3. 2026-06-17
   days on market $324,900 Active 28 DOM
4. 2026-06-16
   days on market $324,900 Active 27 DOM
5. 2026-06-15
   days on market $324,900 Active 26 DOM
6. 2026-06-13
   days on market $324,900 Active 24 DOM
7. 2026-06-10
   days on market $324,900 Active 20 DOM
8. 2026-06-08
   days on market $324,900 Active 19 DOM
9. 2026-06-08
   days on market $324,900 Active 18 DOM
10. 2026-06-04
    days on market $324,900 Active 15 DOM
11. 2026-06-03
    days on market $324,900 Active 14 DOM
12. 2026-06-02
    days on market $324,900 Active 13 DOM
13. 2026-06-01
    days on market $324,900 Active 12 DOM
14. 2026-05-31
    days on market $324,900 Active 11 DOM
15. 2026-05-20
    listed $324,900 Active
16. 2023-07-19
    price $275,000
17. 2021-11-22
    price $279,000
18. 2021-10-22
    price $298,000
19. 2021-05-05
    historical
20. 2020-11-05
    price $279,000
21. 2020-10-26
    price $299,000
22. 2020-03-12
    price $499,000
23. 2020-01-16
    price $289,000
24. 2019-11-21
    listed $309,000 New
25. 2019-10-11
    historical
26. 2019-07-27
    price $349,000
27. 2019-06-28
    price $364,000
28. 2019-05-27
    price $394,900
29. 2019-04-10
    listed $409,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $39,258
• − Mortgage interest: −$18,199
• − Property taxes: −$4,874
• − Insurance: −$6,743
• − Repairs & maintenance: −$3,141
• − Management: −$3,141
• − Depreciation: −$9,452
• Taxable loss: −$6,291
• Est. tax savings @ 24.0%: +$1,510
• After-tax cash flow: $461/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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

-20.6% since first listed

15 events — show timeline

• 2026-05-20 Listed $324,900 BNYMLS
• 2023-07-19 Price Changed $275,000 BNYMLS
• 2021-11-22 Price Changed $279,000 BNYMLS
• 2021-10-22 Price Changed $298,000 BNYMLS
• 2021-05-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-11-05 Price Changed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-26 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-12 Price Changed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2020-01-16 Price Changed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-21 Listed $309,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-07-27 Price Changed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-28 Price Changed $364,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-27 Price Changed $394,900 OneKey® MLS as Distributed by MLS Grid
• 2019-04-10 Listed $409,000 OneKey® MLS as Distributed by MLS Grid