457 Beach 66th St · New York, NY 11692

$499,000

3 bd · 2.0 ba · 1,592 sqft · SingleFamily public records · 212 Days on market

Built 1950 2,500 sqft lot Est $681k · 27% under ↓ 9% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.3/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks

CASH OFFERS ONLY!!! This well maintained single-family semi-attached brick-face home in the heart of Arverne is ready for a new owner! Built in 1950, the property spans 20 feet wide and 42 feet long. It sits on a 25' × 100' lot and features a built-in garage. The first floor includes a well-sized bedroom along with a convenient three-quarter bathroom. This level also provides direct walk-out access to the beautiful 20' × 24' private courtyard, perfect for outdoor dining, gardening, or simply unwinding in your own peaceful retreat. The second floor serves as the main living level. Here you’ll find a large, bright living room that offers plenty of space for gathering and rel

Key facts

• Private courtyard
• 2,500 sq ft lot
• Garage

Tags

• PRIVATE COURTYARD
• DIRECT WALK-OUT ACCESS
• CONVENIENT TRANSPORTATION

Property features AI

Finance

• Other: Zoning: R4-1
• Financial info: Financing options considered: exchange, bank mortgage, cash

Exterior

• Parking: Built-in garage; Other parking (single)
• Utilities: Electric: other; Hot water: other; Gas fuel; Steam/radiator heat delivery
• Home design: Semi-detached residential building; Second-floor entry level details include foyer; Building dimensions approximately 42.00 x 20.00
• Construction: Rubber roof; Other foundation; Building footprint approximately 840 sq ft
• Exterior features: Back yard; Side yard; Brick face exterior

Interior

• Kitchen: Kitchen/dining combo on the second floor; Stove
• Bedrooms: One bedroom on the first floor; Two bedrooms on the second floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the second floor; One three-quarter bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Gas heating fuel; One A/C unit
• Interior features: Central A/C (one unit); Stove; Finished basement; Hardwood floors
• Laundry & utility: Utility room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $-612 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $391k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $371k (25.6% below list).
• Recommended offer: $371k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 80 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,715/mo this rent would consume 90% of the median local household income ($50k/yr) (locally 1734% 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 $53k of equity ($3k loan paydown + $50k appreciation (10.0% 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 ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% 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 $371,464 (25.6% 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 212 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $681,376
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
627 Beach 65th St	0.23mi	3/2.0	1,530 (-4%)	1mo	$577,000	$377	82
439 Beach 69th St	0.16mi	3/2.5	1,530 (-4%)	6mo	$600,000	$392	78
64-07 Thursby Ave	0.10mi	3/2.0	1,402 (-12%)	16mo	$600,000	$428	62
60-08 Beach Front Rd Unit 90A	0.50mi	3/2.0	1,500 (-6%)	7mo	$749,000	$499	61
516 Beach 72nd St	0.26mi	4/2.0 (+1)	1,400 (-12%)	10mo	$625,000	$446	55

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.67×
• Total profit: $232,927
• Equity at exit: $449,539

10-year hold

• IRR: 18.7%
• Equity multiple: 6.13×
• Total profit: $716,799
• Equity at exit: $969,447

Cash invested: $139,720 (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 11692

• Home prices YoY: 14.4%
• Active inventory: 80
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,715 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$295 /mo · $3,540/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $-612

Break-even live

Break-even rent $4,489

Max offer price $390,946

Occupancy floor —

Sensitivity live

Price	-10% $-329	-5% $-470	+0% $-612	+5% $-753	+10% $-894
Rent	-10% $-905	-5% $-758	+0% $-612	+5% $-465	+10% $-318
Rate	-1.0pp $-360	-0.5pp $-485	base $-612	+0.5pp $-741	+1.0pp $-873

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	26d	1	0.21mi
6261 De Costa Ave Arverne, NY	3.0	1.0	1117	$3,250	$2.91	5d	1	0.29mi
72-18 Elizabeth Ave Unit 2 Far Rockaway, NY	3.0	2.0	1125	$3,650	$3.24	26d	1	0.30mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	26d	1	0.55mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	26d	1	0.97mi
1-76 Beach 97th St Unit 3 Rockaway Beach, NY	3.0	1.0	1500	$4,000	$2.67	9d	1	1.38mi
2-27R Beach 99th St Rockaway Park, NY	3.0	1.0	2208	$3,500	$1.59	26d	1	1.50mi

Listing history 13 events

1. 2026-06-21
   days on market $499,000 Active 212 DOM
2. 2026-06-18
   days on market $499,000 Active 209 DOM
3. 2026-06-17
   days on market $499,000 Active 208 DOM
4. 2026-06-15
   days on market $499,000 Active 206 DOM
5. 2026-06-13
   days on market $499,000 Active 204 DOM
6. 2026-06-10
   days on market $499,000 Active 200 DOM
7. 2026-06-08
   days on market $499,000 Active 199 DOM
8. 2026-06-04
   days on market $499,000 Active 195 DOM
9. 2026-06-03
   days on market $499,000 Active 194 DOM
10. 2026-06-01
    days on market $499,000 Active 192 DOM
11. 2026-05-31
    days on market $499,000 Active 191 DOM
12. 2026-02-10
    price $499,000
13. 2025-11-21
    listed $550,000 Active

ⓘ 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: $3,540 · $295/mo
• Projected year-2 tax: $5,986 · $499/mo
• Expected delta: +$2,447/yr (+$204/mo · 69.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,576
• − Mortgage interest: −$27,952
• − Property taxes: −$3,540
• − Insurance: −$7,614
• − Repairs & maintenance: −$3,566
• − Management: −$3,566
• − Depreciation: −$14,516
• Taxable loss: −$16,178
• Est. tax savings @ 24.0%: +$3,883
• After-tax cash flow: $-3,457/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): 22,734
• Household income: $49,720
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1734.0

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 0.64)
• Race & ethnicity: Black 53% Hispanic / Latino 24% Two or more races 15% White 13% Asian 6%
• Hispanic origin (detail): Puerto Rican 10% Dominican 5%
• Common ancestry: Romanian 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 44.49%
• Current HPI: 354.2007
• 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

-9.3% since first listed

2 events — show timeline

• 2026-02-10 Price Changed $499,000 BNYMLS
• 2025-11-21 Listed $550,000 BNYMLS

Property tax history

+4.3%/yr

Latest (2025): $3,540 · -2.4% YoY. Source: county tax records.