25-34 42nd St · New York, NY 11103

$1,395,000

4 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 113 Days on market

Built 1925 2,000 sqft lot Est $1382k · 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).

• Cash flow +8.5/30.0
• Appreciation +8.5/10.0
• ARV discount +7.1/15.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.7/10.0

Multi-family units

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

Listing remarks

Welcome to this stunning, fully renovated two-family home nestled on a picturesque, tree-lined street just moments from convenient transportation. This spacious residence features two bright and generously sized units, each offering modern kitchens equipped with stainless steel appliances and stylish, contemporary bathrooms. Additional highlights include a two-car garage, providing both comfort and functionality in a prime location.

Key facts

• Fully renovated
• Modern kitchens
• Two car garage

Tags

• FULLY RENOVATED
• MODERN KITCHENS
• STAINLESS STEEL APPLIANCES
• CONTEMPORARY BATHROOMS
• TWO CAR GARAGE
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-614/mo.
• To cash-flow at today's rent, offer at most $1.18M (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $936k (32.9% below list).
• Recommended offer: $936k (32.9% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: Rents rising fast (+6.6%/yr); 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $9,355/mo this rent would consume 120% of the median local household income ($93k/yr) (locally 2848% 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 $108k of equity ($10k loan paydown + $98k appreciation (7.0% 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 ~$172k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $935,500 (32.9% 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 113 days. Have you received any prior offers? Is the seller open to a 33% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.67% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.77%
• DSCR: 0.83
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $1,381,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24-41 43 St	0.13mi	3/2.0 (-1)	1,758 (-6%)	11mo	$1,100,000	$626	70
2364 35th St	0.39mi	4/3.0	1,768 (-6%)	1mo	$1,471,000	$832	68
35-03 24th Ave	0.34mi	4/2.0	2,052 (+10%)	1mo	$1,165,000	$568	67
2590 37th St	0.22mi	5/2.0 (+1)	2,150 (+15%)	6mo	$1,352,000	$629	55
31-71 32 St	0.74mi	4/2.0	1,764 (-6%)	2mo	$1,475,000	$836	55
3005 48th St	0.42mi	5/— (+1)	1,650 (-12%)	3mo	$1,300,000	$788	53
2219 28th St	0.72mi	4/2.0	1,634 (-13%)	0mo	$1,510,000	$924	45
45-28 Newtown Rd	0.61mi	4/2.0	2,100 (+12%)	10mo	$1,250,000	$595	42
20-61 42nd St	0.72mi	5/2.0 (+1)	2,032 (+8%)	8mo	$1,475,000	$726	41
31-30 43rd St	0.54mi	5/2.0 (+1)	2,120 (+13%)	13mo	$1,300,000	$613	37
23-80 28 St	0.61mi	5/2.0 (+1)	2,100 (+12%)	12mo	$1,549,000	$738	36
32-13 46th St	0.72mi	5/3.0 (+1)	1,628 (-13%)	11mo	$1,250,000	$768	26

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

Projected returns pro-forma

7.02% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 2.14×
• Total profit: $445,713
• Equity at exit: $968,902

10-year hold

• IRR: 16.6%
• Equity multiple: 4.68×
• Total profit: $1,436,795
• Equity at exit: $1,842,476

Cash invested: $390,600 (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 11103

• Home prices YoY: 2.0%
• Rents YoY: 6.6%
• Active inventory: 54
• Price-to-rent: 24.9×

Monthly cashflow live

• Estimated rent: $9,355 medium
• Mortgage (P&I): −$7,316
• Tax from tax record: −$722 /mo · $8,660/yr
• Insurance: −$581
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,965
• Net cashflow: $-1,228

Break-even live

Break-even rent $10,909

Max offer price $1,178,076

Occupancy floor —

Sensitivity live

Price	-10% $-438	-5% $-833	+0% $-1,228	+5% $-1,623	+10% $-2,018
Rent	-10% $-1,967	-5% $-1,597	+0% $-1,228	+5% $-858	+10% $-489
Rate	-1.0pp $-525	-0.5pp $-873	base $-1,228	+0.5pp $-1,589	+1.0pp $-1,957

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$9,354
Total (2 units)			$9,355

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: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2812 37th St Astoria, NY	3.0	1.5	2200	$4,700	$2.14	20d	1	0.25mi
3439 75th St Jackson Heights, NY	4.0	2.5	1876	$6,900	$3.68	20d	1	1.43mi

Listing history 7 events

1. 2025-09-24
   status Pending
2. 2025-09-23
   soldstatus $1,338,600
3. 2025-07-21
   price $1,395,000
4. 2025-07-07
   price $1,439,000
5. 2025-06-23
   price $1,485,000
6. 2025-06-03
   listed $1,549,000 Active
7. 2024-12-27
   soldstatus $920,000

ⓘ 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: $8,660 · $722/mo
• Projected year-2 tax: $16,118 · $1,343/mo
• Expected delta: +$7,458/yr (+$621/mo · 86.1%)

ⓘ 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 ≥99°F today · 14 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: $112,260
• − Mortgage interest: −$78,142
• − Property taxes: −$8,660
• − Insurance: −$6,975
• − Repairs & maintenance: −$8,981
• − Management: −$8,981
• − Depreciation: −$40,582
• Taxable loss: −$40,060
• Est. tax savings @ 24.0%: +$9,614
• After-tax cash flow: $-5,121/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): 35,163
• Household income: $93,324
• Rent vs Own: 83.8% rent · 16.2% own
• Severe rent burden: 2848.0

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 13% Asian 13% Black 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Estonian 2% Scotch-Irish 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 21% Other Indo-European 15% Russian/Polish/Slavic 7%

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: ▲ 7.02%
• Current HPI: 363.2787
• Rent YoY: ▲ 6.61%
• 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

+45.5% since first listed

7 events — show timeline

• 2025-09-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Sold (Public Records) $1,338,600 Public Records
• 2025-07-21 Price Changed $1,395,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Price Changed $1,439,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-23 Price Changed $1,485,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-03 Listed $1,549,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-27 Sold (Public Records) $920,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $8,660 · +3.4% YoY. Source: county tax records.