18216 141st Ave · New York, NY 11413

$859,000

6 bd · 4.0 ba · 1,771 sqft · MultiFamily public records · 115 Days on market

Built 1930 3,500 sqft lot Est $916k · 6% under

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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 +14.3/30.0
• ARV discount +10.3/15.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• 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

Welcome to 182-16 141st Avenue in Springfield Gardens — a solid two-family home on a quiet residential block with incredible commuter convenience. Built in 1930, this property offers classic character, including a fireplace, and features two units — a two-bedroom on the first floor and a one-bedroom upstairs. Each unit has its own full bathroom, making it ideal for investors or end-users looking to offset their mortgage with rental income. Location is a major highlight. Just minutes from JFK Airport and close to the Long Island Rail Road with direct access to Penn Station in approximately 15 minutes. The Q5 and Q85 bus lines are one block away, making daily commuting simple. Eve

Key facts

• Commuter convenience
• Two family home
• Fireplace

Tags

• TWO FAMILY HOME
• FIREPLACE
• COMMUTER CONVENIENCE
• MINUTES FROM JFK AIRPORT
• CLOSE TO LONG ISLAND RAIL ROAD
• DIRECT ACCESS TO PENN STATION

Property features AI

Exterior

• Parking: Driveway; On-street parking; 1-car garage
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Duplex
• Construction: Brick and frame construction; Finished full basement with walk-out access
• Exterior features: Back yard; Front yard; Fenced yard; Near shops; Garage(s) on property

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bath; Covered porch

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $859k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive. Per door: $81/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 $710k (17.4% below list).
• Recommended offer: $710k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• 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; 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 115 days — a 9% lower offer ($782k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $465k; list at $859k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $709,500 (17.4% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 17% 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 1930 — 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. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $915,607
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14027 Coombs St	0.19mi	7/3.0 (+1)	1,932 (+9%)	2mo	$999,000	$517	65
14003 161st St	0.70mi	5/3.0 (-1)	2,016 (+14%)	7mo	$995,000	$494	29

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-129,096
• Equity at exit: $128,080

10-year hold

• IRR: -6.5%
• Equity multiple: 0.58×
• Total profit: $-99,955
• Equity at exit: $74,271

Cash invested: $240,520 (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: 20.2×

Monthly cashflow live

• Estimated rent: $7,095 high
• Mortgage (P&I): −$4,505
• Tax from tax record: −$581 /mo · $6,970/yr
• Insurance: −$358
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,490
• Net cashflow: $162

Break-even live

Break-even rent $6,890

Max offer price $859,000

Occupancy floor 93%

Sensitivity live

Price	-10% $648	-5% $405	+0% $162	+5% $-81	+10% $-325
Rent	-10% $-399	-5% $-119	+0% $162	+5% $442	+10% $722
Rate	-1.0pp $594	-0.5pp $380	base $162	+0.5pp $-61	+1.0pp $-287

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$7,096
Total (2 units)			$7,095

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: $214,750
• Closing costs: $25,770
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $859,000 Active 115 DOM
2. 2026-06-18
   days on market $859,000 Active 112 DOM
3. 2026-06-17
   days on market $859,000 Active 111 DOM
4. 2026-06-15
   days on market $859,000 Active 109 DOM
5. 2026-06-13
   days on market $859,000 Active 107 DOM
6. 2026-06-10
   days on market $859,000 Active 103 DOM
7. 2026-06-08
   days on market $859,000 Active 102 DOM
8. 2026-06-08
   days on market $859,000 Active 101 DOM
9. 2026-06-04
   days on market $859,000 Active 98 DOM
10. 2026-06-03
    days on market $859,000 Active 97 DOM
11. 2026-06-01
    days on market $859,000 Active 95 DOM
12. 2026-05-31
    days on market $859,000 Active 94 DOM
13. 2026-02-26
    listed $859,000 Active
14. 2025-05-26
    historical
15. 2024-11-25
    listed $860,000 Active
16. 2024-11-08
    historical
17. 2024-10-06
    historical $2,100
18. 2024-09-12
    listed $2,100
19. 2024-06-29
    listed $875,000 Active
20. 2024-03-02
    historical $1,850
21. 2024-02-19
    price $1,850
22. 2024-02-19
    price $1,875
23. 2024-02-01
    listed $2,000
24. 2016-10-04
    soldstatus $465,000
25. 1995-04-07
    soldstatus $150,000
26. 1992-07-21
    soldstatus $150,000

ⓘ 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: $6,970 · $581/mo
• Projected year-2 tax: $10,743 · $895/mo
• Expected delta: +$3,774/yr (+$314/mo · 54.1%)

ⓘ 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 ≥97°F today · 15 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: $85,140
• − Mortgage interest: −$48,117
• − Property taxes: −$6,970
• − Insurance: −$4,295
• − Repairs & maintenance: −$6,811
• − Management: −$6,811
• − Depreciation: −$24,989
• Taxable loss: −$12,854
• Est. tax savings @ 24.0%: +$3,085
• After-tax cash flow: $5,024/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

+472.7% since first listed

14 events — show timeline

• 2026-02-26 Listed $859,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-25 Listed $860,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-06 Rental Removed $2,100 ONEKEY
• 2024-09-12 Listed for Rent $2,100 ONEKEY
• 2024-06-29 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-02 Rental Removed $1,850 ONEKEY
• 2024-02-19 Price Changed $1,850 ONEKEY
• 2024-02-19 Price Changed $1,875 ONEKEY
• 2024-02-01 Listed for Rent $2,000 ONEKEY
• 2016-10-04 Sold (Public Records) $465,000 Public Records
• 1995-04-07 Sold (Public Records) $150,000 Public Records
• 1992-07-21 Sold (Public Records) $150,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $6,970 · +3.4% YoY. Source: county tax records.