59-32 164th St · New York, NY 11365

$818,000

3 bd · 2.0 ba · 1,428 sqft · MultiFamily public records · 19 Days on market

Built 1935 1,948 sqft lot Est $918k · 11% under

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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).

• Cash flow +13.0/30.0
• ARV discount +12.4/15.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Newly renovated — a perfect opportunity for both end-users and investors. Separate entrances for the first and second floors offer excellent flexibility and privacy. The first floor features 1 bedroom, 1 living room, 1 full bathroom, and a kitchen. The second floor offers 2 bedrooms, 1 living room, 1 full bathroom, a kitchen, plus in-unit washer and dryer. The property also includes a private backyard which can be accessed from the 1st floor or the deck of the 2nd floor, an indoor garage, and an additional driveway parking space. Excellent investment potential with strong rental income possibilities. Ideally located just south of Kissena Park, near the I495 highway. Only a 3-minute wa

Key facts

• Private backyard
• Investment potential
• Separate entrances

Tags

• SEPARATE ENTRANCES
• PRIVATE BACKYARD
• INDOOR GARAGE
• DRIVEWAY PARKING SPACE
• INVESTMENT POTENTIAL
• 3 MINUTE WALK TO PARK

Property features AI

Exterior

• Parking: Driveway; Garage; Two parking spaces (one garage space)
• Utilities: Public sewer; Water connected; Electricity connected; Natural gas connected; Cable available; Trash collection (public)
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Garden; Back yard; Front yard

Interior

• Kitchen: Eat-in kitchen; Galley-style layout
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bath; Ceiling fans; Eat-in kitchen; Formal dining room; Galley-style kitchen; Deck

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $818k.

Deal economics

• At list price, monthly cash flow is $-41 ($-487/yr) — negative.
• To cash-flow at today's rent, offer at most $811k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $675k (17.4% below list).
• Recommended offer: $675k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• 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); Francis Lewis High School (math 97% / reading 92%, grade A+, #117 of 1,100 statewide, top 11%, 4,265 students, 70% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 133 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $6,754/mo this rent would consume 100% of the median local household income ($81k/yr) (locally 1876% 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 $25k 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 19 days — a 2% lower offer ($806k) is reasonable based on typical stale-listing flexibility.
• 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 $585k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $675,400 (17.4% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.83% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $918,204
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59-28 159 St	0.24mi	3/2.0	1,552 (+9%)	11mo	$998,000	$643	65
57-25 156th St	0.40mi	4/2.0 (+1)	1,560 (+9%)	13mo	$980,000	$628	50
154-18 65th Ave	0.50mi	3/1.5	1,550 (+8%)	15mo	$1,100,000	$710	48

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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.51×
• Total profit: $-112,475
• Equity at exit: $121,966

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-1,840
• Equity at exit: $70,726

Cash invested: $229,040 (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 11365

• Rents YoY: 6.2%
• Active inventory: 133
• Price-to-rent: 33.4×

Monthly cashflow live

• Estimated rent: $6,754 medium
• Mortgage (P&I): −$4,290
• Tax from tax record: −$746 /mo · $8,949/yr
• Insurance: −$341
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,418
• Net cashflow: $-41

Break-even live

Break-even rent $6,805

Max offer price $810,824

Occupancy floor 96%

Sensitivity live

Price	-10% $422	-5% $191	+0% $-41	+5% $-272	+10% $-504
Rent	-10% $-574	-5% $-307	+0% $-41	+5% $226	+10% $493
Rate	-1.0pp $371	-0.5pp $167	base $-41	+0.5pp $-253	+1.0pp $-468

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$2,040
▸ 2× units	2	1	$4,714
Total (3 units)			$6,754

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: $204,500
• Closing costs: $24,540
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165-23 65th Ave Unit 2 Flushing, NY	3.0	1.5	1200	$3,000	$2.50	24d	1	0.18mi
61-41 173rd St Unit 3rd fl Flushing, NY	2.0	1.0	1000	$2,500	$2.50	24d	1	0.48mi
56-40 175th Pl Unit A Fresh Meadows, NY	4.0	2.0	1500	$3,600	$2.40	4d	1	0.61mi
150-32 Booth Memorial Ave Unit 1st FL Flushing, NY	3.0	2.0	1080	$3,350	$3.10	19d	1	0.71mi
15022 58th Ave Flushing, NY	3.0	1.5	1224	$3,300	$2.70	17d	1	0.71mi
7157 161 St Apt 5B Flushing, NY	2.0	2.0	1100	$2,600	$2.36	26d	1	0.72mi
175-03 Peck Ave Unit 2 Floor Flushing, NY	3.0	2.0	1824	$4,200	$2.30	8d	1	0.74mi
71-82 Parsons Blvd Unit 516 Kew Gardens Hills, NY	2.0	1.5	900	$3,500	$3.89	5d	1	0.83mi
71-82 Parsons Blvd Unit 303 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	16d	1	0.83mi
71-82 Parsons Blvd Unit 503 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	26d	1	0.83mi
5644 187th St Fresh Meadows, NY	4.0	3.0	1147	$4,800	$4.18	21d	1	0.88mi
14803 61st Rd Flushing, NY	3.0	2.0	1594	$3,600	$2.26	26d	1	0.89mi
76-40 170th St #1 Flushing, NY	2.0	1.0	924	$2,800	$3.03	1d	1	1.00mi
142-23 Booth Memorial Ave Unit 1 Flushing, NY	3.0	1.0	1064	$3,200	$3.01	7d	1	1.03mi
16910 77th Rd Fresh Meadows, NY	3.0	3.0	1200	$4,300	$3.58	26d	1	1.04mi
7731 166th St Fresh Meadows, NY	3.0	1.0	1000	$2,700	$2.70	10d	1	1.07mi
78-18 166th St Unit 2 Flushing, NY	4.0	1.5	1000	$3,650	$3.65	12d	1	1.14mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	26d	1	1.15mi
15325 77th Rd Flushing, NY	3.0	1.0	1224	$3,200	$2.61	26d	1	1.15mi
16612 Union Tpke Fresh Meadows, NY	3.0	2.5	1292	$4,900	$3.79	26d	1	1.17mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	26d	1	1.21mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	6d	1	1.30mi
15006 78th Rd Flushing, NY	4.0	2.5	1332	$4,700	$3.53	21d	1	1.34mi
79-29 153rd St Unit 1st Floor Flushing, NY	3.0	1.0	1200	$3,000	$2.50	26d	1	1.35mi
8023 159th St Jamaica, NY	3.0	1.5	1392	$3,000	$2.16	7d	1	1.35mi
43-12 157th St Unit 2 Flushing, NY	3.0	1.5	1100	$3,200	$2.91	26d	1	1.38mi
43-15 156th St Unit 2nd Fl Flushing, NY	4.0	2.0	1600	$2,995	$1.87	16d	1	1.38mi
4255 Colden St Unit 16P Flushing, NY	2.0	1.5	1150	$3,500	$3.04	5d	1	1.45mi
4334 192nd St Unit 2 Queens, NY	2.0	1.0	900	$2,650	$2.94	4d	1	1.47mi

Listing history 12 events

1. 2026-06-21
   days on market $818,000 Active 19 DOM
2. 2026-06-18
   days on market $818,000 Active 16 DOM
3. 2026-06-17
   days on market $818,000 Active 15 DOM
4. 2026-06-16
   days on market $818,000 Active 14 DOM
5. 2026-06-15
   days on market $818,000 Active 13 DOM
6. 2026-06-13
   days on market $818,000 Active 11 DOM
7. 2026-06-09
   days on market $818,000 Active 7 DOM
8. 2026-06-08
   days on market $818,000 Active 6 DOM
9. 2026-06-08
   days on market $818,000 Active 5 DOM
10. 2026-06-04
    days on market $818,000 Active 2 DOM
11. 2026-06-02
    remarks 693-char remark
12. 2026-06-02
    listed $818,000 Active 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: $8,949 · $746/mo
• Projected year-2 tax: $11,387 · $949/mo
• Expected delta: +$2,438/yr (+$203/mo · 27.2%)

ⓘ 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,048
• − Mortgage interest: −$45,821
• − Property taxes: −$8,949
• − Insurance: −$4,090
• − Repairs & maintenance: −$6,484
• − Management: −$6,484
• − Depreciation: −$23,796
• Taxable loss: −$14,576
• Est. tax savings @ 24.0%: +$3,498
• After-tax cash flow: $3,011/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): 42,322
• Household income: $81,258
• Rent vs Own: 53.6% rent · 46.4% own
• Severe rent burden: 1876.0

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: Asian 43% White 23% Hispanic / Latino 21% Two or more races 11% Black 11%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Scotch-Irish 4% Romanian 1% Slovak 1%
• Foreign-born: 46% · China, Canada, South Korea
• Languages at home: 41% English-only · Chinese 26% Spanish 13% Korean 8%

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: ▼ -298.48%
• Current HPI: 314.4015
• Rent YoY: ▲ 6.24%
• 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

+12.2% since first listed

16 events — show timeline

• 2026-06-02 Listed $818,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-21 Price Changed $835,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Listed $860,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-10-14 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-05-10 Price Changed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2019-03-02 Listed $838,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-26 Sold (Public Records) $585,000 Public Records
• 2017-10-18 Sold (MLS) $585,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-07-20 Price Changed $629,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-08 Price Changed $659,999 OneKey® MLS as Distributed by MLS Grid
• 2017-03-28 Price Changed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2017-02-23 Listed $729,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $8,949 · +3.4% YoY. Source: county tax records.