None · New York, NY 11368

$999,000

None bd · None ba · 4,278 sqft · MultiFamily public records · 34 Days on market

Built 1972 3,429 sqft lot Est $1399k · 29% under

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Why this score? — see what drove the A 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Appreciation +8.7/10.0
• Schools +5.0/10.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Well-Maintained 6-Family Property Ideally situated just steps from the Q58 bus, local dining, and shopping, this turnkey 6-family building is perfect for investors seeking stable rental income. Each of the six units features a comfortable 1-bedroom, 1-bathroom layout, with tenants paying their own electric. The property includes a coveted private parking spot and boasts a cellar with a Medical Certificate of Occupancy (C/O)—offering excellent additional potential.

Key facts

• Private parking spot
• 3,429 sq ft lot
• 6 parking spots

Tags

• PRIVATE PARKING SPOT

Property features AI

Finance

• Financial info: Tax year 2025 (tax amount reported)

Exterior

• Parking: Driveway with space for 6 vehicles
• Utilities: Public sewer; Cable connected; Electricity connected; Public trash collection; Water connected
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Bedroom on the first floor
• Bathrooms: Full bathroom on the first floor
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First floor bedroom; First floor full bathroom; Finished basement

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $999k).
• Recommended offer: $969k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 243 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $14,674/mo this rent would consume 244% of the median local household income ($72k/yr) (locally 6817% 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 $81k of equity ($7k loan paydown + $74k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $355k; list at $999k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.
• Climate carrying-cost: major wind risk, 27% 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 $969,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.47% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.43%
• DSCR: 1.60
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $1,398,906
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59-38 Xenia St	0.31mi	6/3.0	4,250 (-1%)	2mo	$1,370,000	$322	83
108-73 53rd Ave	0.17mi	11/8.0	3,935 (-8%)	13mo	$1,725,000	$438	68
50-41 103 St	0.41mi	9/5.0	3,975 (-7%)	6mo	$1,300,000	$327	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 3.05×
• Total profit: $574,056
• Equity at exit: $718,535

10-year hold

• IRR: 26.6%
• Equity multiple: 6.43×
• Total profit: $1,519,948
• Equity at exit: $1,389,358

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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 34.0×

Monthly cashflow live

• Estimated rent: $14,674 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$2,807 /mo · $33,688/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,082
• Net cashflow: $3,130

Break-even live

Break-even rent $10,712

Max offer price $999,000

Occupancy floor 74%

Sensitivity live

Price	-10% $3,696	-5% $3,413	+0% $3,130	+5% $2,847	+10% $2,565
Rent	-10% $1,971	-5% $2,550	+0% $3,130	+5% $3,710	+10% $4,289
Rate	-1.0pp $3,633	-0.5pp $3,384	base $3,130	+0.5pp $2,871	+1.0pp $2,608

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$14,676
Total (6 units)			$14,674

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94-28 53rd Ave Unit 3 Elmhurst, NY	3.0	2.0	3300	$3,500	$1.06	25d	1	0.88mi
6436 Austin St Rego Park, NY	3.0	2.5	3000	$5,500	$1.83	25d	1	1.14mi

Listing history 16 events

1. 2026-06-21
   days on market $999,000 Active 34 DOM
2. 2026-06-18
   days on market $999,000 Active 31 DOM
3. 2026-06-17
   days on market $999,000 Active 30 DOM
4. 2026-06-16
   days on market $999,000 Active 29 DOM
5. 2026-06-15
   days on market $999,000 Active 28 DOM
6. 2026-06-13
   days on market $999,000 Active 26 DOM
7. 2026-06-10
   days on market $999,000 Active 22 DOM
8. 2026-06-08
   days on market $999,000 Active 21 DOM
9. 2026-06-08
   days on market $999,000 Active 20 DOM
10. 2026-06-04
    days on market $999,000 Active 17 DOM
11. 2026-06-03
    days on market $999,000 Active 16 DOM
12. 2026-06-02
    days on market $999,000 Active 15 DOM
13. 2026-06-01
    days on market $999,000 Active 14 DOM
14. 2026-05-31
    days on market $999,000 Active 13 DOM
15. 2026-05-18
    listed $1,180,000 Active
16. 1999-04-26
    soldstatus $355,000

ⓘ 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: $33,688 · $2,807/mo
• Projected year-2 tax: $33,688 · $2,807/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $176,088
• − Mortgage interest: −$55,960
• − Property taxes: −$33,688
• − Insurance: −$4,995
• − Repairs & maintenance: −$14,087
• − Management: −$14,087
• − Depreciation: −$29,062
• Taxable income: $24,210
• Est. tax owed @ 24.0%: −$5,810
• After-tax cash flow: $31,750/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% 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: ▲ 7.40%
• Current HPI: 282.8276
• 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

+232.4% since first listed

2 events — show timeline

• 2026-05-18 Listed $1,180,000 OneKey® MLS as Distributed by MLS Grid
• 1999-04-26 Sold (Public Records) $355,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $33,688 · -1.0% YoY. Source: county tax records.