126-01 18th Ave · New York, NY 11356

$1,380,000

None bd · None ba · 4,000 sqft · MultiFamily · 33 Days on market

Built 1935 2,500 sqft lot

---

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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Rare investment opportunity in the heart of College Point. This semi-detached all-brick mixed-use building sits on a 25x100 lot with a 25x40 building footprint and rare M1-2 zoning. This property is a high-yield asset. The first floor is occupied by a stable commercial tenant with options to deliver vacant or keep for immediate cash flow. The second and third floors are fully renovated and delivered vacant, featuring a 2-bedroom 1.5-bathroom unit and a spacious 3-bedroom 1.5-bathroom unit respectively. The entire building has been updated internally and externally, including unit ACs, 3 separate gas meters, 3 electric meters, and 3 independent heating and hot water systems for easy manageme

Key facts

• M1-2 zoning
• Fully renovated
• Large backyard

Tags

• MIXED-USE BUILDING
• M1-2 ZONING
• FULLY RENOVATED
• DETACHED 2-CAR GARAGE
• LARGE BACKYARD
• BASEMENT WITH HALF-BATH

Property features AI

Exterior

• Parking: Garage; Other parking features; 1 garage space; Has garage
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Duplex; Measured building area ~4000 total
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: Ductless cooling; Natural gas heating; Other heating
• Interior features: Basement present (see remarks); Other interior features

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.38M.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.34M (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.17M (14.9% below list).
• Recommended offer: $1.17M (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Zoned schools: Ps 129 Patricia Larkin (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 1,162 students, 81% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+12.1%/yr); 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $11,746/mo this rent would consume 163% of the median local household income ($87k/yr) (locally 1545% 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 $10k of loan paydown is wiped out by about $41k 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 33 days — a 3% lower offer ($1.34M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,174,600 (14.9% 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 33 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.54×
• Total profit: $-177,769
• Equity at exit: $205,762

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $107,330
• Equity at exit: $119,317

Cash invested: $386,400 (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 11356

• Home prices YoY: -28.9%
• Rents YoY: 12.1%
• Active inventory: 133
• Price-to-rent: 38.5×

Monthly cashflow live

• Estimated rent: $11,746 high
• Mortgage (P&I): −$7,237
• Tax est. 1.5%: −$1,725 /mo · $20,700/yr
• Insurance: −$575
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,467
• Net cashflow: $-258

Break-even live

Break-even rent $12,072

Max offer price $1,342,735

Occupancy floor 97%

Sensitivity live

Price	-10% $696	-5% $219	+0% $-258	+5% $-734	+10% $-1,211
Rent	-10% $-1,185	-5% $-721	+0% $-258	+5% $206	+10% $670
Rate	-1.0pp $437	-0.5pp $93	base $-258	+0.5pp $-615	+1.0pp $-979

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$2,984
1× unit	3	1.5	$3,212
▸ 2× units	1	1.5	$5,550
Total (4 units)			$11,746

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: $345,000
• Closing costs: $41,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14541 Willets Point Blvd Whitestone, NY	3.0	1.5	3004	$3,200	$1.07	26d	1	1.09mi
14618 23rd Ave Whitestone, NY	3.0	1.5	3556	$3,400	$0.96	8d	1	1.16mi

Listing history 7 events

1. 2026-05-05
   status Pending
2. 2026-04-02
   listed $1,380,000 Active
3. 2014-10-05
   historical
4. 2013-04-15
   status Under Contract
5. 2013-01-30
   listed $669,000 New
6. 2012-11-29
   listed $699,000
7. 2012-11-28
   listed $669,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $140,952
• − Mortgage interest: −$77,301
• − Property taxes: −$20,700
• − Insurance: −$6,900
• − Repairs & maintenance: −$11,276
• − Management: −$11,276
• − Depreciation: −$40,145
• Taxable loss: −$26,647
• Est. tax savings @ 24.0%: +$6,395
• After-tax cash flow: $3,305/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): 25,824
• Household income: $86,730
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1545.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 42% Asian 35% White 21% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 8%
• Common ancestry: Romanian 1%
• Foreign-born: 53% · Canada, China, South Korea
• Languages at home: 26% English-only · Spanish 35% Chinese 23% Other Indo-European 8%

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: ▼ -95.50%
• Current HPI: 235.1217
• Rent YoY: ▲ 12.13%
• 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

+106.3% since first listed

7 events — show timeline

• 2026-05-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-02 Listed $1,380,000 OneKey® MLS as Distributed by MLS Grid
• 2014-10-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2013-01-30 Listed $669,000 OneKey® MLS as Distributed by MLS Grid
• 2012-11-29 Listed $699,000 RLS at REBNY
• 2012-11-28 Listed $669,000 RLS at REBNY