18910 114th Dr · New York, NY 11412

$649,000

None bd · None ba · 1,473 sqft · MultiFamily public records · 31 Days on market

Built 1930 4,000 sqft lot Est $764k · 15% 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 +15.2/30.0
• ARV discount +14.3/15.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• 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: 2 units. confirmed

Listing remarks

Quiet street with 1 & 2 family houses. 3 rooms over 5 rooms, needs complete gut renovation.

Key facts

• 4,000 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Driveway; Garage; Attached or detached 2-car garage; 1-car carport
• Utilities: Public sewer; Electricity connected
• Home design: Duplex; Total building area 1,473
• Construction: Brick construction; Finished full basement
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: No heating; No cooling
• Interior features: First-floor bedroom; Finished full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $649k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive. Per door: $110/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 $550k (15.2% below list).
• Recommended offer: $550k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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: 146 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $4k of loan paydown is wiped out by about $19k 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 31 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $550,500 (15.2% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 15% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $764,487
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
189-18 114 Dr	0.01mi	4/2.0	1,473 (0%)	8mo	$880,000	$597	93
19124 Murdock Ave	0.16mi	6/4.0	1,509 (+2%)	2mo	$980,000	$649	86
194-56 Murdock Ave	0.32mi	4/2.0	1,516 (+3%)	2mo	$896,700	$591	79
116-42 193rd St	0.35mi	3/3.0	1,480 (+0%)	11mo	$750,000	$507	74
114-88 177th Pl	0.51mi	4/2.0	1,517 (+3%)	2mo	$755,000	$498	70
11509 196th St	0.35mi	4/3.0	1,580 (+7%)	9mo	$820,000	$519	64
188-25 Mangin Ave	0.27mi	5/4.0	1,680 (+14%)	2mo	$835,000	$497	63
118-32 200th St	0.69mi	6/4.0	1,368 (-7%)	6mo	$1,310,000	$958	51
203-10 Murdock Ave	0.70mi	5/2.0	1,652 (+12%)	2mo	$840,000	$508	46

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-91,297
• Equity at exit: $96,768

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-62,018
• Equity at exit: $56,114

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 11412

• Active inventory: 146
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $5,505 high
• Mortgage (P&I): −$3,403
• Tax from tax record: −$455 /mo · $5,463/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,156
• Net cashflow: $220

Break-even live

Break-even rent $5,227

Max offer price $649,000

Occupancy floor 91%

Sensitivity live

Price	-10% $587	-5% $404	+0% $220	+5% $36	+10% $-147
Rent	-10% $-215	-5% $2	+0% $220	+5% $437	+10% $655
Rate	-1.0pp $547	-0.5pp $385	base $220	+0.5pp $52	+1.0pp $-119

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,506
Total (2 units)			$5,505

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: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191-28 114th Dr Unit 1 St. Albans, NY	3.0	2.0	1767	$3,150	$1.78	26d	1	0.17mi
11516 199th St Saint Albans, NY	3.0	2.0	1000	$3,800	$3.80	26d	1	0.49mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	26d	1	0.69mi
20207 Linden Blvd Saint Albans, NY	3.0	1.0	1584	$3,400	$2.15	26d	1	0.74mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	26d	1	0.78mi
200-03 109th Ave Unit 2nd flr Jamaica, NY	3.0	2.0	1300	$3,200	$2.46	6d	1	0.79mi
10940 175th St Jamaica, NY	3.0	1.5	1300	$4,000	$3.08	20d	1	0.83mi
12054 194th St Saint Albans, NY	3.0	1.0	1099	$3,200	$2.91	26d	1	0.84mi
20120 120th Ave Saint Albans, NY	3.0	2.0	1040	$3,500	$3.37	20d	1	0.91mi
12033 200th St Saint Albans, NY	1.0	1.0	1099	$2,000	$1.82	15d	1	0.91mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	14d	1	0.93mi
177-47 106th Ave Unit First floor Jamaica, NY	3.0	1.0	1600	$3,300	$2.06	16d	1	0.93mi
17724 106th Ave Jamaica, NY	3.0	1.0	1600	$3,500	$2.19	26d	1	0.93mi
17203 119th Ave Jamaica, NY	3.0	2.0	1090	$3,300	$3.03	26d	1	0.95mi
10933 Francis Lewis Blvd Queens Village, NY	3.0	1.5	1492	$4,000	$2.68	26d	1	1.01mi
120-06 172nd St Unit 2 Jamaica, NY	3.0	2.0	900	$3,000	$3.33	26d	1	1.07mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	13d	1	1.12mi
16515 Foch Blvd Jamaica, NY	1.0	1.0	1600	$1,200	$0.75	12d	1	1.20mi
12606 172nd St Jamaica, NY	3.0	2.0	1050	$3,200	$3.05	20d	1	1.20mi
18419 89th Ave Hollis, NY	2.0	1.0	1544	$2,700	$1.75	14d	1	1.29mi
9055 178th St Jamaica, NY	3.0	1.0	1664	$3,500	$2.10	26d	1	1.31mi
90-32 179th St Unit 2nd fl Jamaica, NY	3.0	1.0	1200	$3,000	$2.50	26d	1	1.34mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	16d	1	1.37mi
21511 111th Rd Queens Village, NY	2.0	1.0	1812	$3,100	$1.71	26d	1	1.37mi
8789 191st St Hollis, NY	3.0	2.0	1374	$3,600	$2.62	26d	1	1.38mi
16842 Liberty Ave Jamaica, NY	2.0	1.0	1688	$2,997	$1.78	26d	1	1.39mi
103-20 168th Pl Unit 2nd floor Jamaica, NY	3.0	1.0	1000	$2,900	$2.90	26d	1	1.41mi
115-32 158th St Unit 2 Jamaica, NY	3.0	1.0	1600	$2,800	$1.75	8d	1	1.42mi
21836 133rd Rd Springfield Gardens, NY	2.0	1.0	902	$2,895	$3.21	26d	1	1.42mi
17218 Jamaica Ave Unit 501 Jamaica, NY	2.0	2.0	939	$3,300	$3.51	26d	1	1.42mi
120-23 Guy R Brewer Blvd Unit 1 Jamaica, NY	3.0	1.5	1200	$3,250	$2.71	20d	1	1.44mi
11521 222nd St Cambria Heights, NY	3.0	1.5	1250	$3,500	$2.80	26d	1	1.48mi

Listing history 15 events

1. 2026-06-21
   days on market $649,000 Active 31 DOM
2. 2026-06-18
   days on market $649,000 Active 28 DOM
3. 2026-06-17
   days on market $649,000 Active 27 DOM
4. 2026-06-16
   days on market $649,000 Active 26 DOM
5. 2026-06-15
   days on market $649,000 Active 25 DOM
6. 2026-06-13
   days on market $649,000 Active 23 DOM
7. 2026-06-10
   days on market $649,000 Active 19 DOM
8. 2026-06-08
   days on market $649,000 Active 18 DOM
9. 2026-06-08
   days on market $649,000 Active 17 DOM
10. 2026-06-04
    days on market $649,000 Active 14 DOM
11. 2026-06-03
    days on market $649,000 Active 13 DOM
12. 2026-06-02
    days on market $649,000 Active 12 DOM
13. 2026-06-01
    days on market $649,000 Active 11 DOM
14. 2026-05-31
    days on market $649,000 Active 10 DOM
15. 2026-05-21
    listed $649,000 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: $5,463 · $455/mo
• Projected year-2 tax: $8,215 · $685/mo
• Expected delta: +$2,753/yr (+$229/mo · 50.4%)

ⓘ 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 ≥97°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: $66,060
• − Mortgage interest: −$36,354
• − Property taxes: −$5,463
• − Insurance: −$3,245
• − Repairs & maintenance: −$5,285
• − Management: −$5,285
• − Depreciation: −$18,880
• Taxable loss: −$8,451
• Est. tax savings @ 24.0%: +$2,028
• After-tax cash flow: $4,667/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): 41,350

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 (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 9% Two or more races 5% Asian 4% White 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 7%
• Foreign-born: 42% · Canada
• Languages at home: 82% English-only · French/Haitian/Cajun 6% Spanish 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: ▼ -413.59%
• Current HPI: 302.063
• 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

1 event — show timeline

• 2026-05-21 Listed $649,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $5,463 · +2.7% YoY. Source: county tax records.