68-09 79 St · New York, NY 11379

$1,099,000

12 bd · 12.0 ba · 1,986 sqft · MultiFamily public records · 155 Days on market

Built 1920 2,658 sqft lot ↓ 12% 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• 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: 3 units. confirmed

Listing remarks

Excellent investment or end-user opportunity in the heart of Middle Village! This well-maintained semi-detached brick legal 3-family property features a spacious 5-room apartment on the first floor plus two 1-bedroom apartments on the second floor. The first floor, finished basement, and front second-floor apartment will be delivered vacant, offering excellent flexibility for owner occupancy or additional rental income. Full finished basement with separate access provides added living/recreation space. Property also includes a detached 2-car garage. Conveniently located near shopping, transportation, schools, and local amenities. Great opportunity for investors or users alike!

Key facts

• Remodeled
• 2 car garage
• 2,658 sq ft lot

Tags

• FULL FINISHED BASEMENT
• 2 CAR GARAGE
• REMODELED

Property features AI

Exterior

• Parking: Garage; 2-car garage
• Utilities: Public sewer; Electricity connected
• Home design: Duplex; Property condition: Actual
• Construction: Aluminum siding; Brick construction
• Exterior features: Patio; Aluminum siding and brick exterior

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 2-bedroom unit (multi-unit property)
• Flooring: Wood flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Patio

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/4.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $557/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (2.5% below list).
• Recommended offer: $967k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising (+3.8%/yr); 134 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,717/mo this rent would consume 137% of the median local household income ($94k/yr) (locally 1573% 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 $8k of loan paydown is wiped out by about $33k 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 155 days — a 12% lower offer ($967k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% 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 $967,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.98% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.75% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-63,860
• Equity at exit: $163,864

10-year hold

• IRR: 4.9%
• Equity multiple: 1.37×
• Total profit: $114,016
• Equity at exit: $95,021

Cash invested: $307,720 (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 11379

• Rents YoY: 3.8%
• Active inventory: 134
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $10,717 medium
• Mortgage (P&I): −$5,763
• Tax from tax record: −$575 /mo · $6,895/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,251
• Net cashflow: $1,671

Break-even live

Break-even rent $8,602

Max offer price $1,099,000

Occupancy floor 79%

Sensitivity live

Price	-10% $2,293	-5% $1,982	+0% $1,671	+5% $1,360	+10% $1,049
Rent	-10% $824	-5% $1,247	+0% $1,671	+5% $2,094	+10% $2,517
Rate	-1.0pp $2,224	-0.5pp $1,950	base $1,671	+0.5pp $1,386	+1.0pp $1,096

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	4	$10,716
Total (3 units)			$10,717

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: $274,750
• Closing costs: $32,970
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,099,000 Active 155 DOM
2. 2026-06-17
   days on market $1,099,000 Active 154 DOM
3. 2026-06-15
   days on market $1,099,000 Active 152 DOM
4. 2026-06-13
   days on market $1,099,000 Active 150 DOM
5. 2026-06-10
   days on market $1,099,000 Active 146 DOM
6. 2026-06-08
   days on market $1,099,000 Active 145 DOM
7. 2026-06-04
   days on market $1,099,000 Active 141 DOM
8. 2026-06-03
   days on market $1,099,000 Active 140 DOM
9. 2026-06-01
   days on market $1,099,000 Active 138 DOM
10. 2026-05-31
    days on market $1,099,000 Active 137 DOM
11. 2026-05-07
    price $1,099,000
12. 2026-03-30
    price $1,100,000
13. 2026-03-03
    price $1,198,000
14. 2026-01-14
    listed $1,250,000 Active

ⓘ 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: $6,895 · $575/mo
• Projected year-2 tax: $12,734 · $1,061/mo
• Expected delta: +$5,839/yr (+$487/mo · 84.7%)

ⓘ 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 51% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $128,604
• − Mortgage interest: −$61,561
• − Property taxes: −$6,895
• − Insurance: −$5,495
• − Repairs & maintenance: −$10,288
• − Management: −$10,288
• − Depreciation: −$31,971
• Taxable income: $2,106
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $19,543/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): 36,773
• Household income: $93,558
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 1573.0

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 23% Asian 11% Two or more races 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 11% Scandinavian 2% Scotch-Irish 1%
• Foreign-born: 37% · Canada, China, Jamaica
• Languages at home: 51% English-only · Spanish 17% Russian/Polish/Slavic 11% Other Indo-European 10%

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: ▼ -176.05%
• Current HPI: 310.0656
• Rent YoY: ▲ 3.75%
• 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

-12.1% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $1,099,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $1,198,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Listed $1,250,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $6,895 · +1.2% YoY. Source: county tax records.