30-40 71st St · New York, NY 11370

$1,349,999

None bd · None ba · 2,622 sqft · MultiFamily public records · 1 Days on market

Built 1960 1,967 sqft lot Est $1476k · 9% under

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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 +16.9/30.0
• ARV discount +11.3/15.0
• Appreciation +8.4/10.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This solid brick investment property presents an excellent opportunity, featuring five bedrooms and two bathrooms. The second-floor apartment includes a door from the second bedroom that opens to a private terrace, providing a serene space to relax and enjoy the outdoors. The property is equipped with natural gas heating and a separate hot water tank, ensuring comfort and efficiency. Additionally, it offers a one-car garage and is conveniently located close to transportation, shopping, and houses of worship. This is a fantastic chance to own a valuable investment property that combines comfort and convenience.

Key facts

• Natural gas heating
• Private terrace
• Conveniently located

Tags

• PRIVATE TERRACE
• NATURAL GAS HEATING
• SEPARATE HOT WATER TANK
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Private driveway; Garage (1-car); 3 total parking spaces
• Utilities: Public sewer; Electricity available; Natural gas available; Sewer connected; Water connected
• Home design: Duplex; 2,622 total building area
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: Hot water heating (natural gas); No central cooling
• Interior features: Formal dining area; No basement

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.20M (10.8% below list).
• Recommended offer: $1.20M (10.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Market conditions: 72 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $12,040/mo this rent would consume 190% of the median local household income ($76k/yr) (locally 1451% 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 (6.9% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $378k cash investment doubles in ~4 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $285k; list at $1.35M implies a 374% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $1,204,000 (10.8% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $1,476,186
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3243 71st St	0.24mi	7/3.0	2,622 (0%)	8mo	$1,500,000	$572	82
3241 71st St	0.24mi	7/3.0	2,560 (-2%)	6mo	$1,440,000	$563	80
30-43 69th St	0.08mi	7/3.0	2,594 (-1%)	21mo	$1,340,000	$517	77
32-42 69th St	0.26mi	7/3.0	2,650 (+1%)	11mo	$1,500,000	$566	77
73-09 31st Ave	0.14mi	6/2.0	2,422 (-8%)	21mo	$1,325,000	$547	64
76-14 31 Ave	0.30mi	5/3.0	2,902 (+11%)	12mo	$1,550,000	$534	58
7720 31st Ave	0.36mi	6/3.0	2,970 (+13%)	10mo	$1,350,000	$455	53
31-29 68th St	0.17mi	5/3.0	2,280 (-13%)	22mo	$1,250,000	$548	52
3318 83rd St	0.69mi	6/3.0	2,340 (-11%)	5mo	$1,645,000	$703	46
2134 74th St	0.71mi	4/3.0	2,242 (-14%)	2mo	$1,310,000	$584	41
46-10 28th Ave	0.69mi	6/3.0	2,310 (-12%)	10mo	$1,450,000	$628	40

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

Projected returns pro-forma

6.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.36×
• Total profit: $512,428
• Equity at exit: $923,783

10-year hold

• IRR: 18.5%
• Equity multiple: 4.84×
• Total profit: $1,451,128
• Equity at exit: $1,744,249

Cash invested: $378,000 (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 11370

• Home prices YoY: 1.7%
• Active inventory: 72
• Price-to-rent: 28.0×

Monthly cashflow live

• Estimated rent: $12,040 medium
• Mortgage (P&I): −$7,080
• Tax from tax record: −$983 /mo · $11,792/yr
• Insurance: −$562
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,528
• Net cashflow: $820

Break-even live

Break-even rent $11,002

Max offer price $1,349,999

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	2	$12,039
Total (3 units)			$12,040

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33-30 89th St Unit 3 Flushing, NY	3.0	1.0	3713	$3,400	$0.92	21d	1	0.98mi
2812 37th St Astoria, NY	3.0	1.5	2200	$4,700	$2.14	18d	1	1.10mi
31-33 97th St Unit 1st Floor Flushing, NY	1.0	1.0	2500	$2,650	$1.06	24d	1	1.33mi

Listing history 2 events

1. 2026-06-02
   remarks 617-char remark
2. 2026-06-02
   listed $1,349,999 Pending 1 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: $11,792 · $983/mo
• Projected year-2 tax: $17,304 · $1,442/mo
• Expected delta: +$5,511/yr (+$459/mo · 46.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $144,480
• − Mortgage interest: −$75,621
• − Property taxes: −$11,792
• − Insurance: −$7,547
• − Repairs & maintenance: −$11,558
• − Management: −$11,558
• − Depreciation: −$39,273
• Taxable loss: −$12,870
• Est. tax savings @ 24.0%: +$3,089
• After-tax cash flow: $12,934/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): 30,267
• Household income: $76,009
• Rent vs Own: 53.5% rent · 46.5% own
• Severe rent burden: 1451.0

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: Hispanic / Latino 39% White 27% Asian 25% Two or more races 13% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Dominican 2%
• Common ancestry: Scotch-Irish 1% Slovak 1% Romanian 1%
• Foreign-born: 47% · Canada, Jamaica, China
• Languages at home: 35% English-only · Spanish 33% Other Indo-European 17% Chinese 7%

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: ▲ 6.87%
• Current HPI: 411.1525
• 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

+373.7% since first listed

3 events — show timeline

• 2026-06-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-11 Listed $1,349,999 OneKey® MLS as Distributed by MLS Grid
• 1996-08-19 Sold (Public Records) $285,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $11,792 · +3.4% YoY. Source: county tax records.