195 Beach 26th St · New York, NY 11691

$675,000

4 bd · 3.0 ba · 2,430 sqft · MultiFamily public records · 102 Days on market

Built 2006 980 sqft lot Est $926k · 27% under

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Why this score? — see what drove the B- 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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.8/10.0
• 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: 2 units. confirmed

Listing remarks

2 Family House - Close to the Beach - Needs some TLC - Great Pricing, Additional information: Appearance:Needs TLC, Separate Hotwater Heater:Yes

Key facts

• Close to the beach
• Built 2006
• Listed 102 days

Tags

• CLOSE TO THE BEACH

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $538/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $675k).
• Recommended offer: $614k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: 140 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $7,297/mo this rent would consume 156% of the median local household income ($56k/yr) (locally 4702% 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 102 days — a 9% lower offer ($614k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $576k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $614,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 1.08% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $925,830
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 Beach 37 St	0.53mi	4/3.0	2,068 (-15%)	10mo	$788,684	$381	43
598 Beach 19th St	0.55mi	5/2.0 (+1)	2,106 (-13%)	4mo	$800,000	$380	40

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-40,676
• Equity at exit: $100,645

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $53,391
• Equity at exit: $58,362

Cash invested: $189,000 (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 11691

• Active inventory: 140
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $7,297 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$440 /mo · $5,284/yr
• Insurance: −$281
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,532
• Net cashflow: $1,077

Break-even live

Break-even rent $5,934

Max offer price $675,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,459	-5% $1,268	+0% $1,077	+5% $886	+10% $695
Rent	-10% $500	-5% $789	+0% $1,077	+5% $1,365	+10% $1,653
Rate	-1.0pp $1,417	-0.5pp $1,248	base $1,077	+0.5pp $902	+1.0pp $724

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$7,298
Total (2 units)			$7,297

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1-57 Beach 25th St Far Rockaway, NY	3.0	2.0	3000	$3,700	$1.23	25d	1	0.10mi
8-27 Hartman Ln Unit 1ST Far Rockaway, NY	3.0	1.5	2937	$3,250	$1.11	21d	1	0.53mi
2175 Bay Blvd Atlantic Beach, NY	3.0	2.5	2178	$6,499	$2.98	25d	1	0.92mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	25d	1	0.97mi
2105 Bay Blvd Atlantic Beach, NY	4.0	4.0	2100	$6,500	$3.10	44d	1	1.05mi
29 Cayuga Ave Atlantic Beach, NY	3.0	3.0	2424	$30,000	$12.38	44d	1	1.38mi
94 Roger Ave Inwood, NY	5.0	3.0	2328	$4,800	$2.06	44d	1	1.44mi
128 Hards Ln Lawrence, NY	4.0	2.5	2685	$8,000	$2.98	44d	1	1.48mi

Listing history 3 events

1. 2025-01-12
   status Pending
2. 2024-10-02
   listed $675,000 Active
3. 2007-06-06
   soldstatus $575,800

ⓘ 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: $5,284 · $440/mo
• Projected year-2 tax: $8,346 · $695/mo
• Expected delta: +$3,062/yr (+$255/mo · 57.9%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $87,564
• − Mortgage interest: −$37,810
• − Property taxes: −$5,284
• − Insurance: −$8,494
• − Repairs & maintenance: −$7,005
• − Management: −$7,005
• − Depreciation: −$19,636
• Taxable income: $2,330
• Est. tax owed @ 24.0%: −$559
• After-tax cash flow: $12,362/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): 69,359
• Household income: $56,135
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 4702.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 40% Hispanic / Latino 26% White 24% Two or more races 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Hispanic 3% Italian 2% Romanian 2%
• Foreign-born: 35% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 21% French/Haitian/Cajun 2% 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: ▼ -397.66%
• Current HPI: 281.4044
• 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

+17.2% since first listed

3 events — show timeline

• 2025-01-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-02 Listed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2007-06-06 Sold (Public Records) $575,800 Public Records

Property tax history

+2.1%/yr

Latest (2025): $5,284 · -0.2% YoY. Source: county tax records.