6031 67th Ave · New York, NY 11385

$1,350,000

8 bd · 4.0 ba · 2,750 sqft · MultiFamily public records · 14 Days on market

Built 1930 2,102 sqft lot Est $1444k · 6% 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 +15.8/30.0
• ARV discount +10.4/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.7/5.0
• 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: 4 units. confirmed

Listing remarks

Investor Opportunity in Prime Ridgewood Location! Well-maintained 4-family brick attached building featuring four 2-bedroom, 1-bathroom apartments, with two units per floor (left and right layout). Excellent income-producing property located in one of Ridgewood, Queens’ most desirable rental markets. Situated just minutes from Fresh Pond Road, offering convenient access to shopping, restaurants, markets, and everyday essentials. Close to public transportation including the M Train – Fresh Pond Road Station, as well as B13 and B20 bus routes for easy commuting. This property offers strong rental demand, stable tenant appeal, and long-term investment potential. Ideal for investor

Key facts

• Strong rental demand
• Stable tenant appeal
• Two units per floor

Tags

• TWO UNITS PER FLOOR
• CONVENIENT ACCESS TO SHOPPING
• CLOSE TO PUBLIC TRANSPORTATION
• STRONG RENTAL DEMAND
• STABLE TENANT APPEAL
• LONG-TERM INVESTMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive. Per door: $154/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 $1.17M (13.1% below list).
• Recommended offer: $1.17M (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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.
• Market conditions: Rents rising fast (+5.0%/yr); 212 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $11,729/mo this rent would consume 158% of the median local household income ($89k/yr) (locally 5525% 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 $9k of loan paydown is wiped out by about $40k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $275k; list at $1.35M implies a 391% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,172,900 (13.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $1,443,750
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1816 Woodbine St	0.42mi	8/4.0	2,600 (-6%)	1mo	$1,044,750	$402	70
2135 Menahan St	0.47mi	7/5.0 (-1)	2,760 (+0%)	4mo	$1,450,000	$525	66

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-155,962
• Equity at exit: $201,289

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $15,128
• Equity at exit: $116,723

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 11385

• Rents YoY: 5.0%
• Active inventory: 212
• Price-to-rent: 38.4×

Monthly cashflow live

• Estimated rent: $11,729 medium
• Mortgage (P&I): −$7,080
• Tax from tax record: −$1,006 /mo · $12,075/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,463
• Net cashflow: $618

Break-even live

Break-even rent $10,947

Max offer price $1,350,000

Occupancy floor 90%

Sensitivity live

Price	-10% $1,382	-5% $1,000	+0% $618	+5% $235	+10% $-147
Rent	-10% $-309	-5% $154	+0% $618	+5% $1,081	+10% $1,544
Rate	-1.0pp $1,297	-0.5pp $961	base $618	+0.5pp $268	+1.0pp $-88

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$11,728
Total (4 units)			$11,729

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: —

Listing history 3 events

1. 2026-03-19
   status Pending
2. 2026-03-05
   listed $1,350,000 Active
3. 1990-04-24
   soldstatus $275,000

ⓘ 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: $12,075 · $1,006/mo
• Projected year-2 tax: $17,445 · $1,454/mo
• Expected delta: +$5,370/yr (+$447/mo · 44.5%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $140,748
• − Mortgage interest: −$75,621
• − Property taxes: −$12,075
• − Insurance: −$6,750
• − Repairs & maintenance: −$11,260
• − Management: −$11,260
• − Depreciation: −$39,273
• Taxable loss: −$15,491
• Est. tax savings @ 24.0%: +$3,718
• After-tax cash flow: $11,129/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): 101,704
• Household income: $88,838
• Rent vs Own: 69.3% rent · 30.7% own
• Severe rent burden: 5525.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 45% White 43% Two or more races 17% Asian 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 7% Scandinavian 1% Subsaharan African 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 42% English-only · Spanish 34% Russian/Polish/Slavic 9% Other Indo-European 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: ▼ -213.55%
• Current HPI: 300.9364
• Rent YoY: ▲ 4.97%
• 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

+390.9% since first listed

3 events — show timeline

• 2026-03-19 Pending — BNYMLS
• 2026-03-05 Listed $1,350,000 BNYMLS
• 1990-04-24 Sold (Public Records) $275,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $12,075 · -1.0% YoY. Source: county tax records.