2317 33rd Ave · New York, NY 11106

$1,598,000

5 bd · 3.0 ba · 2,100 sqft · MultiFamily public records · 35 Days on market

Built 1901 1,312 sqft lot Est $1386k · 15% over

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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 +23.2/30.0
• DSCR +7.5/10.0
• Appreciation +6.0/10.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Just Listed in Astoria! 23-17 33rd Avenue, Astoria, NY 11106 Exceptional opportunity to own a spacious property on a beautiful tree-lined block near Broadway in Astoria. Conveniently located near the N/W trains, restaurants, cafes, shopping, and neighborhood amenities. Ideal for end users or investors seeking strong long-term value in one of Queens’ most desirable neighborhoods. Private showings available by appointment.

Key facts

• Near broadway
• Near shopping
• Near restaurants

Tags

• TREE-LINED BLOCK
• NEAR BROADWAY
• NEAR N/W TRAINS
• NEAR RESTAURANTS
• NEAR CAFES
• NEAR SHOPPING

Property features AI

Exterior

• Parking: No dedicated parking; No carport
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water connected; Public trash collection
• Home design: Triplex
• Construction: Block and brick construction
• Exterior features: No waterfront; Block and brick construction

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor full bathroom; Formal dining room; Original details

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.60M).
• Recommended offer: $1.55M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Rents rising fast (+7.3%/yr); 106 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $16,068/mo this rent would consume 227% of the median local household income ($85k/yr) (locally 3679% 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 $44k of equity ($11k loan paydown + $33k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 7.3% rent growth), your $447k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,550,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.78%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $1,386,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23-19 33rd Ave	0.00mi	6/3.0 (+1)	2,100 (0%)	10mo	$1,385,000	$660	86
1442 33rd Ave	0.17mi	5/3.0	2,301 (+10%)	13mo	$1,290,000	$561	65
3361 29th St	0.23mi	4/— (-1)	1,890 (-10%)	6mo	$1,510,000	$799	63
3329 29th St Unit 2FAM	0.20mi	5/2.0	1,800 (-14%)	13mo	$1,725,000	$958	52
3004 14th St	0.49mi	5/2.0	1,800 (-14%)	10mo	$1,150,000	$639	41

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

Projected returns pro-forma

2.06% appreciation · 7.28% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.83×
• Total profit: $371,137
• Equity at exit: $635,856

10-year hold

• IRR: 19.6%
• Equity multiple: 3.89×
• Total profit: $1,291,841
• Equity at exit: $919,934

Cash invested: $447,440 (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 11106

• Home prices YoY: 0.6%
• Rents YoY: 7.3%
• Active inventory: 106
• Price-to-rent: 24.9×

Monthly cashflow live

• Estimated rent: $16,068 high
• Mortgage (P&I): −$8,380
• Tax from tax record: −$748 /mo · $8,974/yr
• Insurance: −$666
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,374
• Net cashflow: $2,900

Break-even live

Break-even rent $12,397

Max offer price $1,598,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$16,068
Total (3 units)			$16,068

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: $399,500
• Closing costs: $47,940
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,598,000 Active 35 DOM
2. 2026-06-17
   days on market $1,598,000 Active 34 DOM
3. 2026-06-16
   days on market $1,598,000 Active 33 DOM
4. 2026-06-15
   days on market $1,598,000 Active 32 DOM
5. 2026-06-13
   days on market $1,598,000 Active 30 DOM
6. 2026-06-10
   days on market $1,598,000 Active 26 DOM
7. 2026-06-08
   days on market $1,598,000 Active 25 DOM
8. 2026-06-08
   days on market $1,598,000 Active 24 DOM
9. 2026-06-04
   days on market $1,598,000 Active 21 DOM
10. 2026-06-03
    days on market $1,598,000 Active 20 DOM
11. 2026-06-02
    days on market $1,598,000 Active 19 DOM
12. 2026-06-01
    days on market $1,598,000 Active 18 DOM
13. 2026-05-31
    days on market $1,598,000 Active 17 DOM
14. 2026-05-08
    listed $1,598,000 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: $8,974 · $748/mo
• Projected year-2 tax: $17,990 · $1,499/mo
• Expected delta: +$9,016/yr (+$751/mo · 100.5%)

ⓘ 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $192,816
• − Mortgage interest: −$89,513
• − Property taxes: −$8,974
• − Insurance: −$7,990
• − Repairs & maintenance: −$15,425
• − Management: −$15,425
• − Depreciation: −$46,487
• Taxable income: $9,001
• Est. tax owed @ 24.0%: −$2,160
• After-tax cash flow: $32,639/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): 40,930
• Household income: $84,867
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 3679.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 42% Hispanic / Latino 27% Asian 19% Two or more races 12% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 4%
• Common ancestry: Scotch-Irish 3% Romanian 3% Estonian 2%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 22% Other Indo-European 13% Russian/Polish/Slavic 4%

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: ▲ 2.06%
• Current HPI: 348.3009
• Rent YoY: ▲ 7.28%
• 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

• 2026-05-08 Listed $1,598,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $8,974 · +11.8% YoY. Source: county tax records.