91-16 43rd Ave · New York, NY 11373

$1,875,000

49 bd · 49.0 ba · 6,294 sqft · MultiFamily public records · 440 Days on market

Built 2002 2,500 sqft lot

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Why this score? — see what drove the B 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.5/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Elmhurst Investment Opportunity - 7.3 Cap Rate! Built in 2002, this well-maintained 4-story, 7-unit multifamily building with 1 commercial space offers a high-yield 7.3 cap rate in the heart of Elmhurst, Queens. Spanning 6,300 SF, the 25 ft x 54 ft building sits on a 25 ft x 100 ft lot and benefits from a 421a tax abatement. Fully 100% occupied, the property features separately metered electric and gas, with tenants covering their own utilities. Each unit has its own independent heating system, ensuring low low operating costs. Strong rental income and location make this an exceptional turn-key investment opportunity. Don't miss out on this rare find- contact us today!

Key facts

• 2,500 sq ft lot
• Built 2002
• Listed 439 days

Property features AI

Finance

• HOA & community: Pets allowed in building

Exterior

• Home design: 4-story building; Entry level at ground floor; Green building
• Exterior features: Private outdoor space (over 60 sq ft); Lot dimensions approximately 100 x 25 ft

Interior

• Bedrooms: Total rooms: 28; Total units: 8
• Bathrooms: 7 full bathrooms
• Heating & cooling: Window-unit cooling
• Interior features: Smoke-free building; Basement (other type)
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 7 × 7-bed/7.0-bath units multifamily listed at $1.88M.

Deal economics

• At list price, monthly cash flow is $6k ($78k/yr) — positive. Per door: $927/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.88M).
• Recommended offer: $1.65M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+7.2%/yr); 270 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $23,838/mo this rent would consume 400% of the median local household income ($71k/yr) (locally 7283% 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 (-1.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $18k 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.
• At projected returns (-1.0% appreciation + 7.2% rent growth), your $525k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 440 days — a 12% lower offer ($1.65M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $907k; list at $1.88M implies a 107% gain — meaningful room to come down on a strong offer.

Recommended offer $1,650,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 440 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.27% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.98% appreciation · 7.15% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.72×
• Total profit: $377,510
• Equity at exit: $454,224

10-year hold

• IRR: 23.8%
• Equity multiple: 3.82×
• Total profit: $1,478,947
• Equity at exit: $478,350

Cash invested: $525,000 (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 11373

• Home prices YoY: -0.4%
• Rents YoY: 7.2%
• Active inventory: 270
• Price-to-rent: 45.9×

Monthly cashflow live

• Estimated rent: $23,838 medium
• Mortgage (P&I): −$9,833
• Tax from tax record: −$1,726 /mo · $20,710/yr
• Insurance: −$781
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,006
• Net cashflow: $6,492

Break-even live

Break-even rent $15,620

Max offer price $1,875,000

Occupancy floor 68%

Sensitivity live

Price	-10% $7,554	-5% $7,023	+0% $6,492	+5% $5,962	+10% $5,431
Rent	-10% $4,609	-5% $5,551	+0% $6,492	+5% $7,434	+10% $8,375
Rate	-1.0pp $7,436	-0.5pp $6,969	base $6,492	+0.5pp $6,006	+1.0pp $5,512

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

Units	Beds	Baths	Est. rent
▸ 7× units	7	7	$23,835
Total (7 units)			$23,838

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: $468,750
• Closing costs: $56,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $1,875,000 Active 440 DOM
2. 2026-06-18
   days on market $1,875,000 Active 437 DOM
3. 2026-06-17
   days on market $1,875,000 Active 436 DOM
4. 2026-06-15
   days on market $1,875,000 Active 434 DOM
5. 2026-06-13
   days on market $1,875,000 Active 432 DOM
6. 2026-06-10
   days on market $1,875,000 Active 428 DOM
7. 2026-06-08
   days on market $1,875,000 Active 427 DOM
8. 2026-06-03
   days on market $1,875,000 Active 422 DOM
9. 2026-06-01
   days on market $1,875,000 Active 420 DOM
10. 2026-05-31
    days on market $1,875,000 Active 419 DOM
11. 2025-11-13
    price $1,875,000
12. 2025-05-13
    price $1,900,000
13. 2025-04-07
    listed $1,950,000 Active
14. 2003-12-10
    soldstatus $906,620
15. 2000-09-28
    soldstatus $136,000
16. 1997-07-18
    soldstatus $136,000
17. 1994-06-02
    soldstatus $236,000
18. 1988-12-05
    soldstatus $285,000

ⓘ 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: $20,710 · $1,726/mo
• Projected year-2 tax: $26,199 · $2,183/mo
• Expected delta: +$5,489/yr (+$457/mo · 26.5%)

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

Taxation est. · year 1

• Rental income: $286,056
• − Mortgage interest: −$105,029
• − Property taxes: −$20,710
• − Insurance: −$9,375
• − Repairs & maintenance: −$22,884
• − Management: −$22,884
• − Depreciation: −$54,545
• Taxable income: $50,627
• Est. tax owed @ 24.0%: −$12,151
• After-tax cash flow: $65,756/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): 98,403
• Household income: $71,480
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 7283.0

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 0.58)
• Race & ethnicity: Asian 48% Hispanic / Latino 43% Two or more races 8% White 5% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 66% · Canada, China, Jamaica
• Languages at home: 14% English-only · Spanish 40% Chinese 16% Other Indo-European 13%

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: ▼ -0.98%
• Current HPI: 244.1055
• Rent YoY: ▲ 7.15%
• 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

+557.9% since first listed

8 events — show timeline

• 2025-11-13 Price Changed $1,875,000 RLS at REBNY
• 2025-05-13 Price Changed $1,900,000 RLS at REBNY
• 2025-04-07 Listed $1,950,000 RLS at REBNY
• 2003-12-10 Sold (Public Records) $906,620 Public Records
• 2000-09-28 Sold (Public Records) $136,000 Public Records
• 1997-07-18 Sold (Public Records) $136,000 Public Records
• 1994-06-02 Sold (Public Records) $236,000 Public Records
• 1988-12-05 Sold (Public Records) $285,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $20,710 · +74.8% YoY. Source: county tax records.