3113 12th St · New York, NY 11106

$1,089,000

4 bd · 3.0 ba · 1,840 sqft · MultiFamily public records · 74 Days on market

Built 1910 1,953 sqft lot Est $1538k · 29% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Appreciation +6.0/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Welcome to 31-13 12th Street, a charming two-family home in the heart of Astoria, near Long Island City. Perfect for homeowners or investors, it offers two income-generating units and endless potential. The first-floor unit features 2 bedrooms, an eat-in kitchen, and a full bath. The second unit upstairs includes 3 spacious bedrooms, another eat-in kitchen, and a full bath. A fully finished walk-in basement with a separate entrance adds extra living space or rental possibilities. Outside, enjoy a large private backyard ideal for relaxing or entertaining. Conveniently close to shopping, public transportation, and more, this "as is" property will be delivered vacant, ready for your

Key facts

• Two family home
• Close to shopping
• 1,953 sq ft lot

Tags

• TWO FAMILY HOME
• INCOME GENERATING UNITS
• LARGE PRIVATE BACKYARD
• CLOSE TO SHOPPING
• PUBLIC TRANSPORTATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Cable available; Electricity available; Sewer: Other
• Home design: Duplex
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 2-bedroom unit (duplex property)
• Flooring: Hardwood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Oil heating; Attic fan; Wall/window air conditioning units
• Interior features: First-floor bedroom; Beamed ceilings; Bidet; Eat-in kitchen; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 1×3bd/1.5ba units multifamily listed at $1.09M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.09M).
• Recommended offer: $1.02M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 fast (+7.3%/yr); 106 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $12,574/mo this rent would consume 178% of the median local household income ($85k/yr) (locally 3679% 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 $30k of equity ($8k loan paydown + $22k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 7.3% rent growth), your $305k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $750k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $1,023,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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 1910 — 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: 1.15% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $1,538,240
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3004 14th St	0.24mi	5/2.0 (+1)	1,800 (-2%)	10mo	$1,150,000	$639	68
3361 29th St	0.60mi	4/—	1,890 (+3%)	6mo	$1,510,000	$799	62
31-71 32 St	0.67mi	4/2.0	1,764 (-4%)	1mo	$1,475,000	$836	57
2308 31 Dr	0.32mi	4/2.0	1,566 (-15%)	5mo	$1,130,000	$722	52
3329 29th St Unit 2FAM	0.57mi	5/2.0 (+1)	1,800 (-2%)	13mo	$1,725,000	$958	50
26-19 14th Pl	0.49mi	3/3.0 (-1)	1,600 (-13%)	4mo	$1,339,000	$837	47

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

Projected returns pro-forma

2.06% appreciation · 7.28% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 1.95×
• Total profit: $288,239
• Equity at exit: $433,321

10-year hold

• IRR: 21.7%
• Equity multiple: 4.22×
• Total profit: $981,420
• Equity at exit: $626,914

Cash invested: $304,920 (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 11106

• Home prices YoY: 0.6%
• Rents YoY: 7.3%
• Active inventory: 106
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $12,574 high
• Mortgage (P&I): −$5,711
• Tax est. 1.5%: −$1,361 /mo · $16,335/yr
• Insurance: −$454
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,641
• Net cashflow: $2,408

Break-even live

Break-even rent $9,526

Max offer price $1,089,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$5,946
1× unit	3	1.5	$6,628
Total (2 units)			$12,574

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: $272,250
• Closing costs: $32,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
888 Main St New York, NY	1.0–3.0	1.0–2.0	963	$7,375	$7.66	6d	7	0.52mi
2812 37th St Astoria, NY	3.0	1.5	2200	$4,700	$2.14	18d	1	0.96mi
344 E 84th St #1 New York, NY	3.0	2.5	2100	$14,000	$6.67	22d	1	1.05mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$8,790	$8.30	3d	3	1.37mi
200 E 69th St New York, NY	2.0–3.0	2.5–3.5	1958	$20,000	$10.21	2d	2	1.44mi

Listing history 28 events

1. 2026-06-18
   days on market $1,089,000 Active 74 DOM
2. 2026-06-17
   days on market $1,089,000 Active 73 DOM
3. 2026-06-15
   days on market $1,089,000 Active 71 DOM
4. 2026-06-13
   days on market $1,089,000 Active 69 DOM
5. 2026-06-10
   pricedays on market $1,089,000 Active 65 DOM
6. 2026-06-08
   days on market $1,095,000 Active 64 DOM
7. 2026-06-08
   days on market $1,095,000 Active 63 DOM
8. 2026-06-04
   days on market $1,095,000 Active 60 DOM
9. 2026-06-03
   days on market $1,095,000 Active 59 DOM
10. 2026-06-01
    days on market $1,095,000 Active 57 DOM
11. 2026-05-31
    days on market $1,095,000 Active 56 DOM
12. 2026-05-11
    price $1,095,000
13. 2026-04-05
    listed $1,098,888 Active
14. 2025-11-24
    historical
15. 2024-09-06
    price $1,100,000
16. 2024-08-02
    listed $1,200,000 Active
17. 2021-03-18
    historical
18. 2020-03-19
    listed $1,199,000 New
19. 2014-10-02
    historical
20. 2013-10-02
    listed $825,000
21. 2008-03-24
    soldstatus $750,000
22. 2004-07-03
    soldstatus $525,000
23. 2003-04-02
    soldstatus $315,000
24. 1997-07-16
    soldstatus $120,000
25. 1993-08-30
    soldstatus $165,500
26. 1990-03-21
    soldstatus $225,000
27. 1990-03-21
    soldstatus $225,000
28. 1988-11-02
    soldstatus $200,000

ⓘ 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 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 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: $150,888
• − Mortgage interest: −$61,001
• − Property taxes: −$16,335
• − Insurance: −$5,445
• − Repairs & maintenance: −$12,071
• − Management: −$12,071
• − Depreciation: −$31,680
• Taxable income: $12,285
• Est. tax owed @ 24.0%: −$2,948
• After-tax cash flow: $25,943/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): 40,930
• Household income: $84,867
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 3679.0

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: White 42% Hispanic / Latino 27% Asian 19% Two or more races 12% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 4%
• Common ancestry: Scotch-Irish 3% Romanian 3% Estonian 2%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 22% Other Indo-European 13% Russian/Polish/Slavic 4%

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: ▲ 2.06%
• Current HPI: 348.3009
• Rent YoY: ▲ 7.28%
• 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

+447.5% since first listed

17 events — show timeline

• 2026-05-11 Price Changed $1,095,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-05 Listed $1,098,888 OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-09-06 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-02 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-03-19 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid
• 2014-10-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-02 Listed $825,000 OneKey® MLS as Distributed by MLS Grid
• 2008-03-24 Sold (Public Records) $750,000 Public Records
• 2004-07-03 Sold (Public Records) $525,000 Public Records
• 2003-04-02 Sold (Public Records) $315,000 Public Records
• 1997-07-16 Sold (Public Records) $120,000 Public Records
• 1993-08-30 Sold (Public Records) $165,500 Public Records
• 1990-03-21 Sold (Public Records) $225,000 Public Records
• 1990-03-21 Sold (Public Records) $225,000 Public Records
• 1988-11-02 Sold (Public Records) $200,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,071 · +3.9% YoY. Source: county tax records.