4201 Newtown Rd · New York, NY 11103

$999,000

3 bd · 2.0 ba · 1,023 sqft · MultiFamily public records · 31 Days on market

Built 1930 1,980 sqft lot

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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).

• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +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

Welcome to 42-01 Newtown Road, a rare opportunity to own a legal two-family home currently configured and enjoyed as a spacious single-family residence in the heart of Astoria. Thoughtfully laid out across three levels, this unique property combines flexibility, functionality, and an unbeatable Queens location. The first floor features an oversized sunlit living room, a generously sized eat-in kitchen with ample cabinet space, and a full bathroom, creating an inviting layout ideal for both everyday living and entertaining. Upstairs, the second level offers three well-proportioned bedrooms, additional closet space, and a full bath. The finished lower level provides valuable bonus space inclu

Key facts

• Ample cabinet space
• Recreation area
• Finished lower level

Tags

• LEGAL TWO-FAMILY HOME
• OVERSIZED SUNLIT LIVING ROOM
• AMPLE CABINET SPACE
• FINISHED LOWER LEVEL
• RECREATION AREA
• HOME OFFICE

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Electricity available and connected; Water available and connected; Sewer available and connected
• Home design: Townhouse structure; Duplex property
• Construction: Brick construction
• Exterior features: Brick exterior; Irregular lot

Interior

• Bedrooms: One 3-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Oil heating; No central air
• Interior features: First-floor full bathroom; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $633k (36.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $477k (52.3% below list).
• Recommended offer: $477k (52.3% below list) — sets the bar for 1% rule.
• Cap rate 3.8% 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 (+6.6%/yr); 54 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $4,768/mo this rent would consume 61% of the median local household income ($93k/yr) (locally 2848% 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 $77k of equity ($7k loan paydown + $70k appreciation (7.0% 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 ~$123k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $476,772 (52.3% 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 31 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
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: 0.48% ✗
• Cap rate: 3.81%
• Cash-on-cash: -8.89%
• DSCR: 0.60
• GRM: 17.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.02% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.84×
• Total profit: $235,779
• Equity at exit: $693,859

10-year hold

• IRR: 13.1%
• Equity multiple: 3.95×
• Total profit: $825,473
• Equity at exit: $1,319,451

Cash invested: $279,720 (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 11103

• Home prices YoY: 2.0%
• Rents YoY: 6.6%
• Active inventory: 54
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $4,768 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$183 /mo · $2,190/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,001
• Net cashflow: $-2,071

Break-even live

Break-even rent $7,389

Max offer price $633,126

Occupancy floor —

Sensitivity live

Price	-10% $-1,506	-5% $-1,788	+0% $-2,071	+5% $-2,354	+10% $-3,828
Rent	-10% $-2,448	-5% $-2,259	+0% $-2,071	+5% $-1,883	+10% $-1,694
Rate	-1.0pp $-1,568	-0.5pp $-1,817	base $-2,071	+0.5pp $-2,330	+1.0pp $-2,593

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30-37 38th St Unit 4 Astoria, NY	3.0	2.0	1200	$5,200	$4.33	14d	1	0.17mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	2d	26	0.47mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	11d	3	0.99mi
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	4d	9	1.08mi
4126 27th St Unit 6D Long Island City, NY	2.0	2.0	1203	$4,990	$4.15	25d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $999,000 Active 31 DOM
2. 2026-06-17
   days on market $999,000 Active 30 DOM
3. 2026-06-16
   days on market $999,000 Active 29 DOM
4. 2026-06-15
   days on market $999,000 Active 28 DOM
5. 2026-06-13
   days on market $999,000 Active 26 DOM
6. 2026-06-10
   days on market $999,000 Active 22 DOM
7. 2026-06-08
   days on market $999,000 Active 21 DOM
8. 2026-06-08
   days on market $999,000 Active 20 DOM
9. 2026-06-04
   days on market $999,000 Active 17 DOM
10. 2026-06-03
    days on market $999,000 Active 16 DOM
11. 2026-06-02
    days on market $999,000 Active 15 DOM
12. 2026-06-01
    days on market $999,000 Active 14 DOM
13. 2026-05-31
    days on market $999,000 Active 13 DOM
14. 2026-05-18
    listed $999,000 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: $2,190 · $183/mo
• Projected year-2 tax: $9,537 · $795/mo
• Expected delta: +$7,346/yr (+$612/mo · 335.4%)

ⓘ 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,213
• − Mortgage interest: −$55,960
• − Property taxes: −$2,190
• − Insurance: −$4,995
• − Repairs & maintenance: −$4,577
• − Management: −$4,577
• − Depreciation: −$29,062
• Taxable loss: −$44,148
• Est. tax savings @ 24.0%: +$10,595
• After-tax cash flow: $-14,258/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): 35,163
• Household income: $93,324
• Rent vs Own: 83.8% rent · 16.2% own
• Severe rent burden: 2848.0

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 13% Asian 13% Black 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Estonian 2% Scotch-Irish 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 21% Other Indo-European 15% Russian/Polish/Slavic 7%

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: ▲ 7.02%
• Current HPI: 363.2787
• Rent YoY: ▲ 6.61%
• 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

1 event — show timeline

• 2026-05-18 Listed $999,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $2,190 · +14.9% YoY. Source: county tax records.