117-68 126th St · New York, NY 11420

$829,000

6 bd · 6.0 ba · 1,104 sqft · MultiFamily public records · 104 Days on market

Built 1930 3,000 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.2/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

TWO FAMILY IN MINT CONDITION 2/1 BEDROOMS FULL FINISHED BASEMENT , WIDE PVT DRIVEWAY , HUGE BACK YARD, MINI SPLIT AC , NEW CUSTOM KITCHEN AND BATHS , CLOSE TO ALL PUBLIC TRANS AND SHOPPING. SOLAR PANELS SAVE ON ELECTRIC VERY VERY MOTIVATED OWNER, Additional information: Appearance:EXCELLENT, Separate Hotwater Heater:1

Key facts

• 3,000 sq ft lot
• Built 1930
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $829k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-567/mo.
• To cash-flow at today's rent, offer at most $629k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $498k (40.0% below list).
• Recommended offer: $498k (40.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k 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

• It's been on market 104 days — a 9% lower offer ($754k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $408k; list at $829k implies a 103% 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, 66% 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 $497,800 (40.0% 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 104 days. Have you received any prior offers? Is the seller open to a 40% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.60% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.87%
• DSCR: 0.74
• GRM: 13.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-206,924
• Equity at exit: $123,607

10-year hold

• IRR: -23.8%
• Equity multiple: -0.18×
• Total profit: $-274,577
• Equity at exit: $71,677

Cash invested: $232,120 (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 11420

• Active inventory: 161
• Price-to-rent: 27.8×

Monthly cashflow live

• Estimated rent: $4,978 medium
• Mortgage (P&I): −$4,347
• Tax from tax record: −$374 /mo · $4,492/yr
• Insurance: −$345
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $-1,135

Break-even live

Break-even rent $6,414

Max offer price $628,581

Occupancy floor —

Sensitivity live

Price	-10% $-665	-5% $-900	+0% $-1,135	+5% $-1,369	+10% $-1,604
Rent	-10% $-1,528	-5% $-1,331	+0% $-1,135	+5% $-938	+10% $-741
Rate	-1.0pp $-717	-0.5pp $-924	base $-1,135	+0.5pp $-1,349	+1.0pp $-1,568

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$4,978
Total (2 units)			$4,978

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: $207,250
• Closing costs: $24,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11515 141st St Jamaica, NY	5.0	2.0	1425	$5,200	$3.65	15d	1	0.86mi

Listing history 5 events

1. 2024-05-07
   status Pending
2. 2024-02-14
   price $829,000
3. 2024-01-24
   listed $849,000 Active
4. 2013-02-20
   soldstatus $408,100
5. 2012-04-16
   soldstatus $218,500

ⓘ 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: $4,492 · $374/mo
• Projected year-2 tax: $9,251 · $771/mo
• Expected delta: +$4,759/yr (+$397/mo · 105.9%)

ⓘ 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 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $59,736
• − Mortgage interest: −$46,437
• − Property taxes: −$4,492
• − Insurance: −$4,145
• − Repairs & maintenance: −$4,779
• − Management: −$4,779
• − Depreciation: −$24,116
• Taxable loss: −$29,012
• Est. tax savings @ 24.0%: +$6,963
• After-tax cash flow: $-6,651/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): 50,060

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: Highly diverse neighborhood (Simpson 0.80)
• Race & ethnicity: Asian 34% Hispanic / Latino 22% Black 20% Two or more races 17% White 4% Native American 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 1%
• Foreign-born: 53% · Canada, China, Jamaica
• Languages at home: 70% English-only · Spanish 17% Other Indo-European 8% Chinese 1%

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: ▼ -492.54%
• Current HPI: 325.7782
• 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

+279.4% since first listed

5 events — show timeline

• 2024-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-02-14 Price Changed $829,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-24 Listed $849,000 OneKey® MLS as Distributed by MLS Grid
• 2013-02-20 Sold (Public Records) $408,100 Public Records
• 2012-04-16 Sold (Public Records) $218,500 Public Records

Property tax history

+11.2%/yr

Latest (2025): $4,492 · -1.1% YoY. Source: county tax records.