10223 164th Dr · New York, NY 11414

$899,000

6 bd · 3.0 ba · 2,280 sqft · MultiFamily public records · 11 Days on market

Built 1930 1,840 sqft lot Est $1067k · 16% 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 +25.2/30.0
• ARV discount +14.6/15.0
• DSCR +8.3/10.0
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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: 3 units. confirmed

Listing remarks

Welcome to this beautifully maintained three-family home in the desirable Hamilton Beach section of Howard Beach! This versatile property features three separate entryways and three individual electric meters, offering complete privacy for each unit. All units include eat-in kitchens, spacious living rooms, and two comfortable bedrooms, making it perfect for multigenerational living or rental income. Enjoy an excellent investment opportunity with strong rental potential, conveniently located near Queens Center Mall, Belt Parkway, and JFK Airport. Don’t miss your chance to own a prime property in a sought-after neighborhood!

Key facts

• Three family home
• Eat in kitchens
• 1,840 sq ft lot

Tags

• THREE FAMILY HOME
• THREE SEPARATE ENTRYWAYS
• EAT IN KITCHENS
• SPACIOUS LIVING ROOMS
• STRONG RENTAL POTENTIAL

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Natural gas available and connected; Water available and connected; No sewer information provided
• Home design: Triplex
• Construction: Frame construction; Shingle siding
• Exterior features: Frame construction with shingle siding; Not waterfront

Interior

• Kitchen: Open kitchen layout
• Bedrooms: Three 2-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Open floor plan; Open kitchen

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $532/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $899k).
• Cap rate 9.0% 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: 260 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $9,492/mo this rent would consume 120% of the median local household income ($95k/yr) (locally 985% 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 $6k of loan paydown is wiped out by about $27k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $625k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $899,000

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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $1,067,040
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
163-18 97th St	0.35mi	5/2.0 (-1)	2,190 (-4%)	1mo	$995,000	$454	68
16140 98th St	0.43mi	6/5.0	2,183 (-4%)	3mo	$1,200,000	$550	62
9519 160th Ave	0.66mi	5/2.0 (-1)	2,286 (+0%)	5mo	$950,000	$416	56
9706 159th Ave	0.69mi	6/2.0	2,244 (-2%)	13mo	$1,050,000	$468	50
96-15 165th Ave	0.32mi	7/4.0 (+1)	2,599 (+14%)	4mo	$1,325,000	$510	50
9702 159th Ave	0.70mi	5/2.0 (-1)	2,100 (-8%)	8mo	$915,000	$436	39

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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-44,018
• Equity at exit: $134,044

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $92,438
• Equity at exit: $77,729

Cash invested: $251,720 (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 11414

• Active inventory: 260
• Price-to-rent: 23.7×

Monthly cashflow live

• Estimated rent: $9,492 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$386 /mo · $4,635/yr
• Insurance: −$375
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,993
• Net cashflow: $1,597

Break-even live

Break-even rent $7,471

Max offer price $899,000

Occupancy floor 78%

Sensitivity live

Price	-10% $2,106	-5% $1,851	+0% $1,597	+5% $1,342	+10% $1,088
Rent	-10% $847	-5% $1,222	+0% $1,597	+5% $1,972	+10% $2,347
Rate	-1.0pp $2,050	-0.5pp $1,826	base $1,597	+0.5pp $1,364	+1.0pp $1,127

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,492
Total (3 units)			$9,492

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $899,000 Active 11 DOM
2. 2026-06-18
   days on market $899,000 Active 8 DOM
3. 2026-06-17
   days on market $899,000 Active 7 DOM
4. 2026-06-16
   days on market $899,000 Active 6 DOM
5. 2026-06-15
   days on market $899,000 Active 5 DOM
6. 2026-06-13
   remarks 633-char remark
7. 2026-06-13
   listed $899,000 Active 3 DOM

ⓘ 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: $4,635 · $386/mo
• Projected year-2 tax: $9,914 · $826/mo
• Expected delta: +$5,279/yr (+$440/mo · 113.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $113,904
• − Mortgage interest: −$50,358
• − Property taxes: −$4,635
• − Insurance: −$9,614
• − Repairs & maintenance: −$9,112
• − Management: −$9,112
• − Depreciation: −$26,153
• Taxable income: $4,921
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $17,982/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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

+957.6% since first listed

18 events — show timeline

• 2026-06-10 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-19 Listed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-06 Price Changed $999,900 OneKey® MLS as Distributed by MLS Grid
• 2025-01-07 Price Changed $1,049,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-18 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-17 Sold (Public Records) $625,000 Public Records
• 2023-12-15 Sold (MLS) $625,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-26 Listed $625,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-05 Sold (Public Records) $715,000 Public Records
• 2017-11-29 Sold (MLS) $715,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-09-20 Listed $725,000 OneKey® MLS as Distributed by MLS Grid
• 2010-07-01 Sold (Public Records) $490,000 Public Records
• 2001-11-28 Sold (Public Records) $206,000 Public Records
• 1986-04-03 Sold (Public Records) $85,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,635 · -1.5% YoY. Source: county tax records.