41-08 111th St · New York, NY 11368

$1,259,000

None bd · None ba · 4,350 sqft · MultiFamily public records · 23 Days on market

Built 1973 2,500 sqft lot Est $1905k · 34% 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 +25.7/30.0
• ARV discount +15.0/15.0
• Appreciation +8.7/10.0
• DSCR +8.6/10.0
• 1% rule +7.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Six Dwelling property. Building Size:25x58. Prime location near the 7 train exceptional 6 units investment opportunity property. 3 Vacant units ready for immediate current market rents. 3 Occupied units providing steady rental income. Lot size 25x100 Building Size:25x58. 2 units with 2 bedrooms, 1 bath, and 4 units with 1 bedroom, 1 bath, kitchen and living room. ..

Key facts

• 3 vacant units
• 3 occupied units
• Steady rental income

Tags

• 6 UNITS INVESTMENT OPPORTUNITY
• 3 VACANT UNITS
• 3 OCCUPIED UNITS
• STEADY RENTAL INCOME

Property features AI

Finance

• Financial info: Tax year 2025 (tax amount displayed in original data excluded per instructions)

Exterior

• Parking: No carport; Other parking features
• Utilities: Sewer: Other; Utilities: see remarks
• Home design: Quadruplex property; Total building area approximately 4350 (source: other)
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: Natural gas heating; Additional heating details available in remarks; No cooling system
• Interior features: Additional interior details listed as 'Other'

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.26M.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.26M).
• Recommended offer: $1.24M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Market conditions: 243 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $15,440/mo this rent would consume 256% of the median local household income ($72k/yr) (locally 6817% 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 $102k of equity ($9k loan paydown + $93k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $353k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$163k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($1.24M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $475k; list at $1.26M implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,240,115 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.25%
• DSCR: 1.46
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $1,905,300
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50-41 103 St	0.57mi	9/5.0	3,975 (-9%)	6mo	$1,300,000	$327	54
108-73 53rd Ave	0.52mi	11/8.0	3,935 (-10%)	12mo	$1,725,000	$438	50

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

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.88×
• Total profit: $663,005
• Equity at exit: $905,541

10-year hold

• IRR: 24.3%
• Equity multiple: 6.06×
• Total profit: $1,782,395
• Equity at exit: $1,750,953

Cash invested: $352,520 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 38.0×

Monthly cashflow live

• Estimated rent: $15,440 high
• Mortgage (P&I): −$6,602
• Tax from tax record: −$2,060 /mo · $24,723/yr
• Insurance: −$525
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,242
• Net cashflow: $3,010

Break-even live

Break-even rent $11,629

Max offer price $1,259,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,516
▸ 4× units	1	1	$9,924
Total (6 units)			$15,440

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: $314,750
• Closing costs: $37,770
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94-28 53rd Ave Unit 3 Elmhurst, NY	3.0	2.0	3300	$3,500	$1.06	24d	1	1.01mi
33-30 89th St Unit 3 Flushing, NY	3.0	1.0	3713	$3,400	$0.92	21d	1	1.24mi
9212 25th Ave East Elmhurst, NY	2.0	1.0	5360	$3,000	$0.56	24d	1	1.42mi

Listing history 37 events

1. 2026-06-18
   days on market $1,259,000 Active 23 DOM
2. 2026-06-17
   days on market $1,259,000 Active 22 DOM
3. 2026-06-16
   days on market $1,259,000 Active 21 DOM
4. 2026-06-15
   days on market $1,259,000 Active 20 DOM
5. 2026-06-13
   days on market $1,259,000 Active 18 DOM
6. 2026-06-10
   days on market $1,259,000 Active 14 DOM
7. 2026-06-08
   days on market $1,259,000 Active 13 DOM
8. 2026-06-08
   days on market $1,259,000 Active 12 DOM
9. 2026-06-04
   days on market $1,259,000 Active 9 DOM
10. 2026-06-03
    days on market $1,259,000 Active 8 DOM
11. 2026-06-02
    days on market $1,259,000 Active 7 DOM
12. 2026-06-01
    days on market $1,259,000 Active 6 DOM
13. 2026-05-31
    days on market $1,259,000 Active 5 DOM
14. 2026-05-26
    listed $1,259,000 Active
15. 2025-10-25
    price $995,000
16. 2024-08-30
    historical
17. 2024-05-28
    listed $1,298,000 Active
18. 2024-04-30
    historical
19. 2024-03-26
    price $1,399,000
20. 2024-03-01
    price $13,909,000
21. 2023-11-03
    listed $1,550,000 Active
22. 2023-10-07
    historical
23. 2023-07-10
    listed $1,190,000 Active
24. 2022-04-06
    historical
25. 2021-07-25
    price $1,059,000
26. 2020-11-09
    listed $1,100,000 Active
27. 2018-10-22
    soldstatus $475,000
28. 2017-12-18
    historical
29. 2017-05-09
    price $1,100,000
30. 2017-05-09
    price $1,000,100
31. 2017-04-19
    price $1,000,000
32. 2017-01-17
    price $1,300,000
33. 2016-10-17
    listed $1,400,000 New
34. 1987-05-18
    soldstatus $268,000
35. 1985-06-26
    soldstatus $225,000
36. 1985-03-13
    soldstatus $225,000
37. 1985-02-28
    soldstatus $145,000

ⓘ 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: $24,723 · $2,060/mo
• Projected year-2 tax: $24,723 · $2,060/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $185,280
• − Mortgage interest: −$70,524
• − Property taxes: −$24,723
• − Insurance: −$6,295
• − Repairs & maintenance: −$14,822
• − Management: −$14,822
• − Depreciation: −$36,625
• Taxable income: $17,468
• Est. tax owed @ 24.0%: −$4,192
• After-tax cash flow: $31,933/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 3%

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: ▲ 7.40%
• Current HPI: 282.8276
• Rent YoY: —
• 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

+768.3% since first listed

24 events — show timeline

• 2026-05-26 Listed $1,259,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-25 Price Changed $995,000 FSBO.com
• 2024-08-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-28 Listed $1,298,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-26 Price Changed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-01 Price Changed $13,909,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-03 Listed $1,550,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-10 Listed $1,190,000 OneKey® MLS as Distributed by MLS Grid
• 2022-04-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-07-25 Price Changed $1,059,000 OneKey® MLS as Distributed by MLS Grid
• 2020-11-09 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-22 Sold (Public Records) $475,000 Public Records
• 2017-12-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-05-09 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-09 Price Changed $1,000,100 OneKey® MLS as Distributed by MLS Grid
• 2017-04-19 Price Changed $1,000,000 OneKey® MLS as Distributed by MLS Grid
• 2017-01-17 Price Changed $1,300,000 OneKey® MLS as Distributed by MLS Grid
• 2016-10-17 Listed $1,400,000 OneKey® MLS as Distributed by MLS Grid
• 1987-05-18 Sold (Public Records) $268,000 Public Records
• 1985-06-26 Sold (Public Records) $225,000 Public Records
• 1985-03-13 Sold (Public Records) $225,000 Public Records
• 1985-02-28 Sold (Public Records) $145,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $24,723 · -39.9% YoY. Source: county tax records.