22008 Linden Blvd · New York, NY 11411

$899,000

15 bd · 9.0 ba · 2,308 sqft · MultiFamily public records · 189 Days on market

Built 1960

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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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• 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 well-maintained 3-family gem, offering bright, sun-filled interiors in every unit. Each apartment features a spacious layout designed for comfort and everyday living, with abundant natural light throughout the entire building. The property is fully occupied with paying tenants. Conveniently located near shopping centers, grocery stores, dining, and other essential amenities. Property is being sold AS IS. Please DO NOT disturb the tenants.

Key facts

• Sun-filled interiors
• Spacious layout
• Conveniently located

Tags

• SUN-FILLED INTERIORS
• SPACIOUS LAYOUT
• ABUNDANT NATURAL LIGHT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: On-street parking; 1-car garage
• Utilities: Public sewer; Electricity available
• Home design: Triplex
• Construction: Brick construction; Full basement
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 2-bedroom unit
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Wall/window AC units
• Interior features: Eat-in kitchen; Natural woodwork; Full basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $845k (6.1% below list).
• Recommended offer: $791k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: 76 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

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

• It's been on market 189 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $185k; list at $899k implies a 386% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 54% 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 $791,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.94% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-80,436
• Equity at exit: $134,044

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $13,351
• 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 11411

• Active inventory: 76
• Price-to-rent: 26.6×

Monthly cashflow live

• Estimated rent: $8,446 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$555 /mo · $6,666/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,774
• Net cashflow: $1,028

Break-even live

Break-even rent $7,145

Max offer price $899,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$8,445
Total (3 units)			$8,446

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 14 events

1. 2026-06-18
   days on market $899,000 Active 189 DOM
2. 2026-06-17
   days on market $899,000 Active 188 DOM
3. 2026-06-15
   days on market $899,000 Active 186 DOM
4. 2026-06-13
   days on market $899,000 Active 184 DOM
5. 2026-06-10
   days on market $899,000 Active 180 DOM
6. 2026-06-08
   days on market $899,000 Active 179 DOM
7. 2026-06-04
   days on market $899,000 Active 175 DOM
8. 2026-06-03
   days on market $899,000 Active 174 DOM
9. 2026-06-01
   days on market $899,000 Active 172 DOM
10. 2026-05-31
    days on market $899,000 Active 171 DOM
11. 2025-12-11
    listed $899,000 Active
12. 1999-02-11
    soldstatus $185,000
13. 1988-10-20
    soldstatus $210,000
14. 1986-03-21
    soldstatus $125,000

ⓘ 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: $6,666 · $555/mo
• Projected year-2 tax: $10,929 · $911/mo
• Expected delta: +$4,264/yr (+$355/mo · 64.0%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $101,352
• − Mortgage interest: −$50,358
• − Property taxes: −$6,666
• − Insurance: −$4,495
• − Repairs & maintenance: −$8,108
• − Management: −$8,108
• − Depreciation: −$26,153
• Taxable loss: −$2,536
• Est. tax savings @ 24.0%: +$609
• After-tax cash flow: $12,942/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
• City population: 7,731,280
• Population (ZIP): 20,501

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 Black (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 8% Two or more races 5% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 8%
• Foreign-born: 41% · Canada, Mexico, China
• Languages at home: 80% English-only · French/Haitian/Cajun 9% Spanish 7% Other Indo-European 1%

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: ▼ -298.42%
• Current HPI: 299.6176
• Rent YoY: —
• Metro: —
• 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

+619.2% since first listed

4 events — show timeline

• 2025-12-11 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 1999-02-11 Sold (Public Records) $185,000 Public Records
• 1988-10-20 Sold (Public Records) $210,000 Public Records
• 1986-03-21 Sold (Public Records) $125,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $6,666 · -1.7% YoY. Source: county tax records.