10601 53rd Ave · New York, NY 11368

$899,000

4 bd · 1.0 ba · 1,830 sqft · MultiFamily public records · 149 Days on market

Built 1901 2,500 sqft lot Est $1213k · 26% under

---

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).

• ARV discount +15.0/15.0
• Appreciation +8.7/10.0
• Cash flow +8.2/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.6/10.0

Multi-family units

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

Listing remarks

Rare fully detached 2-family with private driveway & detached garage for 4–5 cars — impossible to find in Corona at this price point. First-floor walk-in + two full floors above, ideal for end-user or investor. LOW TAX (˜ $5,000/yr) keeps monthly cost down. R5 zoning = value-add upside for future expansion (buyers to verify). Month-to-month tenants offer flexibility for vacant delivery or rental income. About 10 min to Flushing Main Street for transportation, dining & supermarkets. Big lot • Big parking • Low tax • High upside. A rare opportunity. Text/Call listing agent for fastest response.

Key facts

• Private driveway
• Two family home
• Close to shopping

Tags

• TWO FAMILY HOME
• FINISHED WALK-IN UNIT
• PRIVATE DRIVEWAY
• DETACHED GARAGE
• CLOSE TO SHOPPING
• CLOSE TO TRANSPORTATIONS

Property features AI

Finance

• Other: Two-unit multi-family property with both units on month-to-month tenancy
• Financial info: Financing options may include cash, bank mortgage, or exchange considered

Exterior

• Parking: Detached garage; Approximately 5 parking spaces
• Utilities: 110V electric; Gas hot water; Gas heating
• Home design: Detached residential building; Two-story (two levels with separate units); Lot zoned R5
• Construction: Wood frame construction; Siding exterior; Pitched roof; Poured concrete foundation; Building footprint approximately 560 (dimensions ~28 x 20)
• Exterior features: Front yard; Private drive

Interior

• Kitchen: Oven/Range; Stove
• Bedrooms: Two bedrooms on the first floor; Two bedrooms on the second floor; Property has two separate units (each a 2-bedroom unit)
• Flooring: Other flooring (see remarks)
• Bathrooms: One full bath on the first floor; One full bath on the second floor; Each unit includes one full bathroom
• Heating & cooling: Steam/radiator heat; Gas-fired hot water
• Interior features: Stove; Finished full walk-in basement
• Laundry & utility: Heat included in each unit; Water included in each unit

🏷️ Possibly a rental listed for sale. The $899,000 price doesn't fit this home's estimated sale value (~$1,213,290) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/0.5-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $-838 ($-10k/yr) — negative. Per door: $-419/mo.
• To cash-flow at today's rent, offer at most $751k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $591k (34.3% below list).
• Recommended offer: $591k (34.3% 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.
• Market conditions: 243 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $5,906/mo this rent would consume 98% 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 $73k of equity ($6k loan paydown + $67k appreciation (7.4% 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 ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $99k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $610k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1901 — 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 $590,600 (34.3% 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 149 days. Have you received any prior offers? Is the seller open to a 34% 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 1901 — 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: 0.66% ✗
• Cap rate: 5.17%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $1,213,290
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101-08/06 Christie Ave	0.29mi	4/2.0	1,788 (-2%)	3mo	$1,200,000	$671	76
55-12 Van Cleef St	0.16mi	5/2.0 (+1)	1,964 (+7%)	6mo	$980,000	$499	66
109-07 46 Ave	0.37mi	4/2.0	1,728 (-6%)	14mo	$1,145,000	$663	58
11214 Roosevelt Ave	0.65mi	5/— (+1)	1,760 (-4%)	7mo	$1,060,000	$602	52
9626 Corona Ave	0.59mi	5/2.0 (+1)	1,960 (+7%)	8mo	$1,480,000	$755	45
108-26 49th Ave	0.19mi	5/4.0 (+1)	2,044 (+12%)	15mo	$995,000	$487	42

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: 15.5%
• Equity multiple: 2.12×
• Total profit: $282,438
• Equity at exit: $646,609

10-year hold

• IRR: 15.3%
• Equity multiple: 4.41×
• Total profit: $858,483
• Equity at exit: $1,250,283

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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $5,906 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$414 /mo · $4,972/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,240
• Net cashflow: $-838

Break-even live

Break-even rent $6,966

Max offer price $751,025

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	0.5	$5,906
Total (2 units)			$5,906

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 58th Ave Flushing, NY	3.0	3.0	1300	$3,500	$2.69	4d	1	1.21mi

Listing history 12 events

1. 2026-04-10
   status Pending
2. 2026-03-15
   price $899,000
3. 2026-02-28
   price $950,000
4. 2025-11-19
   price $1,118,000
5. 2025-11-12
   listed $998,000 Active
6. 2022-08-19
   historical
7. 2022-07-30
   listed $880,000 Active
8. 2022-07-24
   listed $880,000 Active
9. 2016-07-28
   soldstatus $610,000
10. 2014-04-26
    historical
11. 2013-10-26
    listed $489,000
12. 1999-03-15
    soldstatus $157,000

ⓘ 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: $4,972 · $414/mo
• Projected year-2 tax: $10,083 · $840/mo
• Expected delta: +$5,110/yr (+$426/mo · 102.8%)

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,872
• − Mortgage interest: −$50,358
• − Property taxes: −$4,972
• − Insurance: −$4,495
• − Repairs & maintenance: −$5,670
• − Management: −$5,670
• − Depreciation: −$26,153
• Taxable loss: −$26,445
• Est. tax savings @ 24.0%: +$6,347
• After-tax cash flow: $-3,705/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

+472.6% since first listed

12 events — show timeline

• 2026-04-10 Pending — BNYMLS
• 2026-03-15 Price Changed $899,000 BNYMLS
• 2026-02-28 Price Changed $950,000 BNYMLS
• 2025-11-19 Price Changed $1,118,000 BNYMLS
• 2025-11-12 Listed $998,000 BNYMLS
• 2022-08-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-07-30 Listed $880,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-24 Listed $880,000 RLS at REBNY
• 2016-07-28 Sold (Public Records) $610,000 Public Records
• 2014-04-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-26 Listed $489,000 OneKey® MLS as Distributed by MLS Grid
• 1999-03-15 Sold (Public Records) $157,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $4,972 · -2.4% YoY. Source: county tax records.