58-07 Van Cleef St · New York, NY 11368

$1,345,000

4 bd · 4.0 ba · 3,000 sqft · MultiFamily public records · 44 Days on market

Built 1989 1,500 sqft lot Est $1497k · 10% 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).

• ARV discount +12.1/15.0
• Appreciation +8.7/10.0
• Cash flow +7.6/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Multi-family units

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

Listing remarks

4 Family Investment Opportunity Located on desirable Van Cleef Street, this semi-detached, 3-story brick building is a must-see for investors and end-users alike. Set on a 20' x 75' lot, the property features four income-producing units: two 1BR/1BA duplexes on the first floor, and a spacious 2BR/2BA unit with a private balcony spanning the second and third floors. Enjoy a beautiful backyard! New roof. Close proximity to Queens Center Mall, Rego Park Shopping Complex, Flushing Meadows Park, the Hall of Science, and 108th St. buses—offering excellent convenience and tenant appeal. The building measures 20' x 40' and offers separated utilities and meters for each unit. Zoned R6B, this

Key facts

• High demand area
• Private balcony
• Separated utilities

Tags

• INCOME PRODUCING UNITS
• PRIVATE BALCONY
• NEW ROOF
• SEPARATED UTILITIES
• ZONED R6B
• HIGH DEMAND AREA

Property features AI

Finance

• Financial info: Tax information available (2025 tax year)

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Bathrooms: Six full bathrooms
• Heating & cooling: Wall/window air conditioning units; Natural gas heating; Other heating
• Interior features: Basement present (see agent remarks for details); Other interior features

What this means for you Summary

Snapshot

• This is a 4 × 1.0-bed/1.0-bath units multifamily listed at $1.34M.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative. Per door: $-409/mo.
• To cash-flow at today's rent, offer at most $1.06M (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.04M (22.8% below list).
• Recommended offer: $1.04M (22.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: Ps 14 Fairview (math 22% / reading 42%, grade F, #1,646 of 2,108 statewide, top 80%, 1,071 students, 81% FRL); Is 61 Leonardo Da Vinci (math 37% / reading 44%, grade F, #407 of 729 statewide, top 56%, 2,079 students, 94% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 244 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,387/mo this rent would consume 172% 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 $109k of equity ($9k loan paydown + $100k 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 ~$174k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($1.30M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $915k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $1,038,700 (22.8% 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 44 days. Have you received any prior offers? Is the seller open to a 23% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.77% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.21%
• DSCR: 0.77
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $1,497,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109-60 54th Ave	0.21mi	4/2.0	2,752 (-8%)	1mo	$1,530,000	$556	68
5822 Penrod St	0.24mi	4/2.0	2,716 (-10%)	8mo	$1,355,000	$499	58
10855 48th Ave	0.53mi	4/3.0	2,860 (-5%)	8mo	$1,100,000	$385	57

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: 14.6%
• Equity multiple: 2.06×
• Total profit: $399,185
• Equity at exit: $967,396

10-year hold

• IRR: 14.6%
• Equity multiple: 4.28×
• Total profit: $1,236,744
• Equity at exit: $1,870,557

Cash invested: $376,600 (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: 244
• Price-to-rent: 43.2×

Monthly cashflow live

• Estimated rent: $10,387 high
• Mortgage (P&I): −$7,053
• Tax from tax record: −$2,228 /mo · $26,736/yr
• Insurance: −$560
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,181
• Net cashflow: $-1,636

Break-even live

Break-even rent $12,458

Max offer price $1,055,984

Occupancy floor —

Sensitivity live

Price	-10% $-875	-5% $-1,255	+0% $-1,636	+5% $-2,017	+10% $-2,397
Rent	-10% $-2,457	-5% $-2,046	+0% $-1,636	+5% $-1,226	+10% $-815
Rate	-1.0pp $-959	-0.5pp $-1,294	base $-1,636	+0.5pp $-1,985	+1.0pp $-2,339

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

Units	Beds	Baths	Est. rent
▸ 4× units	1.0	1	$10,388
Total (4 units)			$10,387

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: $336,250
• Closing costs: $40,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94-28 53rd Ave Unit 3 Elmhurst, NY	3.0	2.0	3300	$3,500	$1.06	26d	1	0.92mi
6436 Austin St Rego Park, NY	3.0	2.5	3000	$5,500	$1.83	26d	1	1.10mi

Listing history 33 events

1. 2026-06-21
   days on market $1,345,000 Active 44 DOM
2. 2026-06-18
   days on market $1,345,000 Active 41 DOM
3. 2026-06-17
   days on market $1,345,000 Active 40 DOM
4. 2026-06-16
   days on market $1,345,000 Active 39 DOM
5. 2026-06-15
   days on market $1,345,000 Active 38 DOM
6. 2026-06-13
   days on market $1,345,000 Active 36 DOM
7. 2026-06-10
   days on market $1,345,000 Active 32 DOM
8. 2026-06-08
   days on market $1,345,000 Active 31 DOM
9. 2026-06-08
   days on market $1,345,000 Active 30 DOM
10. 2026-06-04
    days on market $1,345,000 Active 27 DOM
11. 2026-06-03
    days on market $1,345,000 Active 26 DOM
12. 2026-06-01
    days on market $1,345,000 Active 24 DOM
13. 2026-05-31
    days on market $1,345,000 Active 23 DOM
14. 2026-05-08
    listed $1,345,000 Active
15. 2025-12-26
    historical
16. 2025-07-02
    listed $1,299,999 Active
17. 2020-07-09
    soldstatus $915,000
18. 2020-04-11
    historical
19. 2019-11-06
    price $1,175,000
20. 2019-09-10
    listed $1,299,000 New
21. 2016-02-26
    historical
22. 2015-08-26
    listed $839,000
23. 2015-05-08
    historical
24. 2015-02-01
    listed $799,000
25. 2014-06-05
    historical
26. 2014-02-14
    listed $729,000
27. 2012-04-23
    soldstatus $615,000
28. 2008-03-10
    soldstatus $667,000
29. 2004-04-08
    soldstatus $635,000
30. 1998-08-18
    soldstatus $385,000
31. 1992-12-22
    soldstatus $285,000
32. 1992-08-17
    soldstatus $347,500
33. 1989-09-13
    soldstatus $425,000

ⓘ 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: $26,736 · $2,228/mo
• Projected year-2 tax: $26,736 · $2,228/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $124,644
• − Mortgage interest: −$75,341
• − Property taxes: −$26,736
• − Insurance: −$6,725
• − Repairs & maintenance: −$9,972
• − Management: −$9,972
• − Depreciation: −$39,127
• Taxable loss: −$43,229
• Est. tax savings @ 24.0%: +$10,375
• After-tax cash flow: $-9,258/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

+216.5% since first listed

20 events — show timeline

• 2026-05-08 Listed $1,345,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-02 Listed $1,299,999 OneKey® MLS as Distributed by MLS Grid
• 2020-07-09 Sold (Public Records) $915,000 Public Records
• 2020-04-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-11-06 Price Changed $1,175,000 OneKey® MLS as Distributed by MLS Grid
• 2019-09-10 Listed $1,299,000 OneKey® MLS as Distributed by MLS Grid
• 2016-02-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-08-26 Listed $839,000 OneKey® MLS as Distributed by MLS Grid
• 2015-05-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-02-01 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2014-06-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-02-14 Listed $729,000 OneKey® MLS as Distributed by MLS Grid
• 2012-04-23 Sold (Public Records) $615,000 Public Records
• 2008-03-10 Sold (Public Records) $667,000 Public Records
• 2004-04-08 Sold (Public Records) $635,000 Public Records
• 1998-08-18 Sold (Public Records) $385,000 Public Records
• 1992-12-22 Sold (Public Records) $285,000 Public Records
• 1992-08-17 Sold (Public Records) $347,500 Public Records
• 1989-09-13 Sold (Public Records) $425,000 Public Records

Property tax history

+37.0%/yr

Latest (2025): $26,736 · -6.7% YoY. Source: county tax records.