87-84 160th St · New York, NY 11432

$679,000

8 bd · 5.0 ba · 2,208 sqft · MultiFamily public records · 16 Days on market

Built 1910 1,700 sqft lot

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.2/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• 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

Two Family House in Jamaica, featuring 7 Bedrooms, 5 Full Bathrooms, 2 Living & Dining Rooms, 2 Kitchens and a Full Finished Basement with a Full Bathroom. Steps away from Buses, Public transportations, Shops and other community amenities. Selling as is.

Key facts

• 1,700 sq ft lot
• Built 1910
• Listed 16 days

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.5-bath units multifamily listed at $679k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $523/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $679k).
• Recommended offer: $669k (1.5% 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.
• 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 flat; 198 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,936/mo this rent would consume 112% of the median local household income ($74k/yr) (locally 4385% 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 16 days — a 2% lower offer ($669k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $79k; list at $679k implies a 760% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $668,815 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $1,638,336
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15926 Highland Ave	0.09mi	7/3.0 (-1)	2,011 (-9%)	6mo	$1,055,000	$525	63
152-19 85th Dr	0.30mi	7/3.0 (-1)	1,920 (-13%)	5mo	$1,425,000	$742	47

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-58,816
• Equity at exit: $101,241

10-year hold

• IRR: -2.2%
• Equity multiple: 0.86×
• Total profit: $-25,888
• Equity at exit: $58,708

Cash invested: $190,120 (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 11432

• Rents YoY: 0.8%
• Active inventory: 198
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $6,936 high
• Mortgage (P&I): −$3,561
• Tax from tax record: −$590 /mo · $7,077/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,457
• Net cashflow: $1,046

Break-even live

Break-even rent $5,612

Max offer price $679,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,430	-5% $1,238	+0% $1,046	+5% $854	+10% $662
Rent	-10% $498	-5% $772	+0% $1,046	+5% $1,320	+10% $1,594
Rate	-1.0pp $1,388	-0.5pp $1,219	base $1,046	+0.5pp $870	+1.0pp $691

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$6,936
Total (2 units)			$6,936

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: $169,750
• Closing costs: $20,370
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2024-05-31
   status Pending
2. 2024-05-31
   status Active
3. 2024-05-04
   status Pending
4. 2024-05-01
   status Active
5. 2024-04-06
   status Active
6. 2024-02-21
   listed $679,000 Active
7. 2021-10-28
   soldstatus $78,917
8. 2020-06-10
   status Active
9. 2020-03-30
   historical
10. 2020-03-27
    status Pending
11. 2020-02-19
    status Under Contract
12. 2019-12-10
    price $899,000
13. 2019-11-22
    listed $975,000 New
14. 2014-03-18
    soldstatus $578,917
15. 2013-04-21
    historical
16. 2012-07-19
    listed $390,000
17. 2004-04-13
    soldstatus $385,000
18. 2003-08-04
    soldstatus $245,000
19. 1997-04-21
    soldstatus $21,500

ⓘ 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: $7,077 · $590/mo
• Projected year-2 tax: $9,276 · $773/mo
• Expected delta: +$2,199/yr (+$183/mo · 31.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $83,232
• − Mortgage interest: −$38,035
• − Property taxes: −$7,077
• − Insurance: −$3,395
• − Repairs & maintenance: −$6,659
• − Management: −$6,659
• − Depreciation: −$19,753
• Taxable income: $1,656
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $12,155/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): 62,892
• Household income: $74,096
• Rent vs Own: 64.2% rent · 35.8% own
• Severe rent burden: 4385.0

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 0.73)
• Race & ethnicity: Asian 42% Hispanic / Latino 21% Black 17% White 12% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 57% · Canada, Jamaica, China
• Languages at home: 34% English-only · Other Indo-European 30% Spanish 19% Tagalog/Filipino 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: ▼ -457.06%
• Current HPI: 282.1513
• Rent YoY: ▲ 0.75%
• 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

+3058.1% since first listed

19 events — show timeline

• 2024-05-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-31 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-05-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-04-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-02-21 Listed $679,000 OneKey® MLS as Distributed by MLS Grid
• 2021-10-28 Sold (Public Records) $78,917 Public Records
• 2020-06-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2020-03-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-02-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-12-10 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-22 Listed $975,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-18 Sold (Public Records) $578,917 Public Records
• 2013-04-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-07-19 Listed $390,000 OneKey® MLS as Distributed by MLS Grid
• 2004-04-13 Sold (Public Records) $385,000 Public Records
• 2003-08-04 Sold (Public Records) $245,000 Public Records
• 1997-04-21 Sold (Public Records) $21,500 Public Records

Property tax history

+5.6%/yr

Latest (2024): $7,077 · +4.0% YoY. Source: county tax records.