182 Beach 97th St · New York, NY 11693

$979,000

4 bd · 5.6 ba · 2,893 sqft · MultiFamily public records · 28 Days on market

Built 2004 2,250 sqft lot Est $906k · 8% over

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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).

• Cash flow +13.3/30.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• ARV discount +3.8/15.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

, Additional information: Interior Features:Lr/Dr

Key facts

• Private terrace
• Converted garage
• Finished basement

Tags

• STAINLESS STEEL APPLIANCES
• IN-UNIT WASHER DRYER
• PRIVATE TERRACE
• FINISHED BASEMENT
• PRIVATE EXTERIOR ACCESS
• CONVERTED GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.8-bath units multifamily listed at $979k.

Deal economics

• At list price, monthly cash flow is $-75 ($-897/yr) — negative. Per door: $-37/mo.
• To cash-flow at today's rent, offer at most $966k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $763k (22.1% below list).
• Recommended offer: $763k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 67 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).

Forward outlook

• In year one you build about $105k of equity ($7k loan paydown + $98k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $274k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$168k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($964k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.
• Current owner paid $380k; list at $979k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% 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 $762,800 (22.1% 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. 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 0.78% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $905,509
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2-16 Beach 98 St	0.09mi	5/3.0 (+1)	2,902 (+0%)	4mo	$907,000	$313	76

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.93×
• Total profit: $528,133
• Equity at exit: $881,961

10-year hold

• IRR: 21.3%
• Equity multiple: 6.69×
• Total profit: $1,558,427
• Equity at exit: $1,901,982

Cash invested: $274,120 (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 11693

• Home prices YoY: 17.7%
• Active inventory: 67
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $7,628 medium
• Mortgage (P&I): −$5,134
• Tax from tax record: −$493 /mo · $5,911/yr
• Insurance: −$408
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,602
• Net cashflow: $-75

Break-even live

Break-even rent $7,723

Max offer price $965,790

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2.8	$7,628
Total (2 units)			$7,628

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: $244,750
• Closing costs: $29,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2-27R Beach 99th St Rockaway Park, NY	3.0	1.0	2208	$3,500	$1.59	25d	1	0.17mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	25d	1	0.82mi

Listing history 9 events

1. 2026-03-02
   status Pending
2. 2026-02-02
   listed $979,000 Active
3. 2022-04-18
   price $2,500
4. 2014-06-18
   historical
5. 2014-06-17
   soldstatus $380,000 Closed

   Show marketing remark (49 chars)

   , Additional information: Interior Features:Lr/Dr

6. 2014-06-17
   soldstatus $380,000 49-char remark

   Show marketing remark (49 chars)

   , Additional information: Interior Features:Lr/Dr

7. 2014-03-18
   status Under Contract
8. 2014-02-03
   listed $385,000 New

   Show marketing remark (49 chars)

   , Additional information: Interior Features:Lr/Dr

9. 2014-02-03
   listed $385,000 49-char remark

   Show marketing remark (49 chars)

   , Additional information: Interior Features:Lr/Dr

ⓘ 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: $5,911 · $493/mo
• Projected year-2 tax: $11,228 · $936/mo
• Expected delta: +$5,317/yr (+$443/mo · 90.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,536
• − Mortgage interest: −$54,839
• − Property taxes: −$5,911
• − Insurance: −$5,692
• − Repairs & maintenance: −$7,323
• − Management: −$7,323
• − Depreciation: −$28,480
• Taxable loss: −$18,032
• Est. tax savings @ 24.0%: +$4,328
• After-tax cash flow: $3,430/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): 13,066

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 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 11% Asian 5%
• Hispanic origin (detail): Puerto Rican 8% Dominican 4% Salvadoran 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Subsaharan African 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 16% Russian/Polish/Slavic 8% 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: ▲ 121.58%
• Current HPI: 807.44
• 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

+154.3% since first listed

9 events — show timeline

• 2026-03-02 Pending — BNYMLS
• 2026-02-02 Listed $979,000 BNYMLS
• 2022-04-18 Price Changed $2,500 RENT.
• 2014-06-18 Delisted — MLSLI
• 2014-06-17 Sold (MLS) $380,000 OneKey® MLS as Distributed by MLS Grid
• 2014-06-17 Sold (MLS) $380,000 MLSLI
• 2014-03-18 Pending — MLSLI
• 2014-02-03 Listed $385,000 MLSLI
• 2014-02-03 Listed $385,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2025): $5,911 · -2.4% YoY. Source: county tax records.