448 Beach 64th St · New York, NY 11692

$799,000

None bd · None ba · 2,016 sqft · MultiFamily public records · 3 Days on market

Built 1940 2,550 sqft lot Est $790k · at est.

---

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 +16.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.0/15.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Renovated 2-family home offering an excellent opportunity for both investors and owner-occupants. The first-floor unit is currently occupied by a tenant paying $3,200/month, providing immediate rental income, while the second-floor unit is vacant and ready for occupancy or market rent. Features include updated kitchens and bathrooms, spacious bedrooms, hardwood flooring, tile flooring, modern cabinetry, stainless steel appliances, and abundant natural light throughout. Private driveway and separate living spaces make this a versatile investment. Conveniently located near transportation, shopping, schools, and local amenities.

Key facts

• Hardwood flooring
• Modern cabinetry
• Updated bathrooms

Tags

• RENOVATED 2-FAMILY HOME
• UPDATED KITCHENS
• UPDATED BATHROOMS
• HARDWOOD FLOORING
• TILE FLOORING
• MODERN CABINETRY

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Natural gas available
• Home design: Duplex; Total building area approximately 2,016 sq. ft.
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Not waterfront

Interior

• Bedrooms: Includes a bedroom on the first floor
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; No basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $-18 ($-211/yr) — negative. Per door: $-9/mo.
• To cash-flow at today's rent, offer at most $796k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $669k (16.3% below list).
• Recommended offer: $669k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 80 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $6,686/mo this rent would consume 161% 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 $85k of equity ($6k loan paydown + $80k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $224k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $450k; list at $799k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $668,600 (16.3% 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. 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.84% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $790,272
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6235 Burchell Rd	0.14mi	5/3.0	2,000 (-1%)	5mo	$867,347	$434	88
609 Beach 63rd St	0.21mi	5/2.0	2,068 (+3%)	7mo	$565,000	$273	80
193 Beach 59th St	0.28mi	5/3.0	2,052 (+2%)	6mo	$710,000	$346	79
65-05 Beach Channel Dr	0.14mi	5/2.0	2,024 (+0%)	21mo	$700,000	$346	76
463 Beach 68th St	0.24mi	7/4.0	2,200 (+9%)	1mo	$905,000	$411	73
618 Beach 67th St	0.27mi	4/2.0	1,946 (-4%)	12mo	$715,000	$367	72
69-43 Thursby Ave	0.36mi	5/2.0	2,068 (+3%)	11mo	$810,000	$392	69
62-04 Hillmeyer Rd	0.29mi	6/4.0	2,200 (+9%)	10mo	$995,000	$452	63
345 Beach 73rd St	0.48mi	5/2.0	1,926 (-4%)	13mo	$550,000	$286	59
6523 Seaspray Ave	0.42mi	4/3.0	2,258 (+12%)	8mo	$1,170,000	$518	54

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: 24.2%
• Equity multiple: 2.94×
• Total profit: $434,003
• Equity at exit: $719,803

10-year hold

• IRR: 21.5%
• Equity multiple: 6.72×
• Total profit: $1,278,875
• Equity at exit: $1,552,281

Cash invested: $223,720 (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: 19.9×

Monthly cashflow live

• Estimated rent: $6,686 medium
• Mortgage (P&I): −$4,190
• Tax from tax record: −$350 /mo · $4,200/yr
• Insurance: −$333
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,404
• Net cashflow: $-18

Break-even live

Break-even rent $6,708

Max offer price $795,899

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,686
Total (2 units)			$6,686

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	24d	1	0.35mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	24d	1	0.64mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	24d	1	0.82mi
1-76 Beach 97th St Unit 3 Rockaway Beach, NY	3.0	1.0	1500	$4,000	$2.67	7d	1	1.48mi

Listing history 4 events

1. 2026-06-18
   days on market $799,000 Active 3 DOM
2. 2026-06-17
   days on market $799,000 Active 2 DOM
3. 2026-06-15
   remarks 633-char remark
4. 2026-06-15
   listed $799,000 Active 1 DOM

ⓘ 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: $4,200 · $350/mo
• Projected year-2 tax: $8,851 · $738/mo
• Expected delta: +$4,652/yr (+$388/mo · 110.8%)

ⓘ 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 8/10 Severe 80% 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: $80,232
• − Mortgage interest: −$44,756
• − Property taxes: −$4,200
• − Insurance: −$9,114
• − Repairs & maintenance: −$6,419
• − Management: −$6,419
• − Depreciation: −$23,244
• Taxable loss: −$13,919
• Est. tax savings @ 24.0%: +$3,340
• After-tax cash flow: $3,130/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

+77.6% since first listed

4 events — show timeline

• 2026-06-15 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-28 Rental Removed — ONEKEY
• 2023-08-03 Listed for Rent — ONEKEY
• 2023-03-31 Sold (Public Records) $450,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $4,200 · -2.4% YoY. Source: county tax records.