12702 172nd St · New York, NY 11434

$1,299,000

9 bd · 6.0 ba · 3,000 sqft · MultiFamily public records · 80 Days on market

Built 2007 2,059 sqft lot Est $1611k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.9/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

This beautifully maintained legal 3-family semi-detached home built in 2007 offers 9 bedrooms and 6 full bathrooms across three generously sized units. Configured as a 3 over 3 over 3. Each floor features 3 bedrooms, 2 full baths, and a primary suite giving every occupant their own space to settle into. One unit can be delivered vacant, so you can move in, rent it out, or both. Live in one unit. Let the others work for you. Outside, a private driveway and fenced backyard give you the breathing room that's hard to find in this city. Inside, the layouts are spacious, functional, and built to attract quality tenants for the long haul. Located minutes from the LIRR, JFK Airport, major highways,

Key facts

• Minutes from lirr
• Private driveway
• Three family home

Tags

• PRIVATE DRIVEWAY
• FENCED BACKYARD
• THREE FAMILY HOME
• GENEROUSLY SIZED UNITS
• PRIMARY SUITE
• MINUTES FROM LIRR

Property features AI

Finance

• HOA & community: HOA fee of $25 monthly

Exterior

• Parking: Attached parking; Driveway; Parking for 2 vehicles
• Security: Fire sprinkler system; Security system; Smoke detectors; Video cameras
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Water connected
• Home design: Triplex; Approximately 3,000 total building area
• Construction: Brick construction; Stucco construction
• Exterior features: Brick and stucco exterior; Back yard fencing; Shed(s); Not waterfront

Interior

• Bedrooms: One 3-bedroom unit; Two 4-bedroom units
• Bathrooms: Six full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Primary bathroom; Recessed lighting; Storage

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $-339 ($-4k/yr) — negative. Per door: $-113/mo.
• To cash-flow at today's rent, offer at most $1.24M (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $982k (24.4% below list).
• Recommended offer: $982k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 245 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $9,820/mo this rent would consume 152% of the median local household income ($78k/yr) (locally 3168% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k 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 80 days — a 6% lower offer ($1.22M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 54% 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 $982,000 (24.4% 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 80 days. Have you received any prior offers? Is the seller open to a 24% 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. 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. 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?
10. 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.
11. 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.
12. 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: 0.76% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $1,611,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131-04 160th St	0.59mi	8/5.0 (-1)	3,000 (0%)	13mo	$1,627,000	$542	53
13435 161st St	0.57mi	8/5.0 (-1)	2,700 (-10%)	0mo	$1,450,000	$537	47
13332 Guy R Brewer Blvd	0.52mi	8/4.0 (-1)	2,713 (-10%)	5mo	$1,399,000	$516	42

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

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-232,481
• Equity at exit: $193,685

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-231,843
• Equity at exit: $112,314

Cash invested: $363,720 (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 11434

• Active inventory: 245
• Price-to-rent: 33.1×

Monthly cashflow live

• Estimated rent: $9,820 high
• Mortgage (P&I): −$6,812
• Tax from tax record: −$744 /mo · $8,922/yr
• Insurance: −$541
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,062
• Net cashflow: $-339

Break-even live

Break-even rent $10,249

Max offer price $1,239,104

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$9,819
Total (3 units)			$9,820

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: $324,750
• Closing costs: $38,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1,299,000 Active 80 DOM
2. 2026-06-17
   days on market $1,299,000 Active 79 DOM
3. 2026-06-15
   days on market $1,299,000 Active 77 DOM
4. 2026-06-13
   days on market $1,299,000 Active 75 DOM
5. 2026-06-10
   days on market $1,299,000 Active 71 DOM
6. 2026-06-08
   days on market $1,299,000 Active 70 DOM
7. 2026-06-08
   days on market $1,299,000 Active 69 DOM
8. 2026-06-04
   days on market $1,299,000 Active 66 DOM
9. 2026-06-03
   days on market $1,299,000 Active 65 DOM
10. 2026-06-01
    days on market $1,299,000 Active 63 DOM
11. 2026-05-31
    days on market $1,299,000 Active 62 DOM
12. 2026-03-25
    listed $1,299,000 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: $8,922 · $744/mo
• Projected year-2 tax: $15,438 · $1,286/mo
• Expected delta: +$6,515/yr (+$543/mo · 73.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $117,840
• − Mortgage interest: −$72,764
• − Property taxes: −$8,922
• − Insurance: −$6,495
• − Repairs & maintenance: −$9,427
• − Management: −$9,427
• − Depreciation: −$37,789
• Taxable loss: −$26,985
• Est. tax savings @ 24.0%: +$6,476
• After-tax cash flow: $2,408/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): 68,263
• Household income: $77,598
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 3168.0

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 Black (76%)
• Race & ethnicity: Black 76% Hispanic / Latino 12% Two or more races 7% Asian 4% White 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 37% · Canada, Mexico, Jamaica
• Languages at home: 82% English-only · Spanish 8% French/Haitian/Cajun 5% Other Indo-European 2%

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: ▼ -539.32%
• Current HPI: 111.2067
• 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

1 event — show timeline

• 2026-03-25 Listed $1,299,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $8,922 · +3.6% YoY. Source: county tax records.