340 Beach 84th St · New York, NY 11693

$649,000

6 bd · 1.0 ba · 1,870 sqft · MultiFamily public records · 112 Days on market

Built 2005 2,500 sqft lot Est $733k · 11% under

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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 +18.1/30.0
• ARV discount +12.7/15.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• 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

welcome to this beautiful legal 2 family house. 1st floor has 3 bedrooms and one full bathroom with a nice size kitchen and living room. second floor also has 3 bedrooms and kitchen with living room. first floor is being delivered empty. 2nd floor has a tenant with no missing rent payments. apartments has been updated recently and in a very nice, clean condition

Key facts

• 2,500 sq ft lot
• Built 2005
• Listed 111 days

Property features AI

Exterior

• Parking: Driveway (no carport)
• Utilities: Electricity available; Other sewer
• Home design: Duplex
• Construction: Duplex property type; Other construction materials; Other foundation details
• Exterior features: Non-waterfront property; Other exterior construction materials; Other foundation details

Interior

• Bedrooms: One 3-bedroom unit
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Other heating; No central cooling
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/0.5-bath units multifamily listed at $649k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive. Per door: $74/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 $590k (9.0% below list).
• Recommended offer: $590k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: 67 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• In year one you build about $69k of equity ($4k loan paydown + $65k 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 $182k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $590,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.91% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $733,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
345 Beach 73rd St	0.42mi	5/2.0 (-1)	1,926 (+3%)	13mo	$550,000	$286	56
69-43 Thursby Ave	0.55mi	5/2.0 (-1)	2,068 (+11%)	11mo	$810,000	$392	38

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: 25.0%
• Equity multiple: 3.00×
• Total profit: $362,962
• Equity at exit: $584,671

10-year hold

• IRR: 22.1%
• Equity multiple: 6.84×
• Total profit: $1,061,694
• Equity at exit: $1,260,864

Cash invested: $181,720 (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 11693

• Home prices YoY: 17.7%
• Active inventory: 67
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $5,904 medium
• Mortgage (P&I): −$3,403
• Tax from tax record: −$416 /mo · $4,996/yr
• Insurance: −$270
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,240
• Net cashflow: $147

Break-even live

Break-even rent $5,717

Max offer price $649,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	0.5	$5,904
Total (2 units)			$5,904

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-02-03
   listed $649,000 Active
2. 2017-10-15
   historical
3. 2017-08-02
   listed $315,000 New
4. 2017-07-24
   historical
5. 2017-07-12
   price $321,000
6. 2017-07-08
   listed $335,000 New

ⓘ 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: $4,996 · $416/mo
• Projected year-2 tax: $7,982 · $665/mo
• Expected delta: +$2,986/yr (+$249/mo · 59.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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: $70,848
• − Mortgage interest: −$36,354
• − Property taxes: −$4,996
• − Insurance: −$8,364
• − Repairs & maintenance: −$5,668
• − Management: −$5,668
• − Depreciation: −$18,880
• Taxable loss: −$9,081
• Est. tax savings @ 24.0%: +$2,179
• After-tax cash flow: $3,949/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): 13,066

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 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 11% Asian 5%
• Hispanic origin (detail): Puerto Rican 8% Dominican 4% Salvadoran 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Subsaharan African 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 16% Russian/Polish/Slavic 8% 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: ▲ 121.58%
• Current HPI: 807.44
• 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

+93.7% since first listed

6 events — show timeline

• 2026-02-03 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-08-02 Listed $315,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-07-12 Price Changed $321,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-08 Listed $335,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $4,996 · -2.4% YoY. Source: county tax records.