224-20 141st Ave · New York, NY 11413

$630

4 bd · None ba · 1,728 sqft · MultiFamily public records · 48 Days on market

Built 1955 2,704 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Short sale, sold as is, subject to bank approval

Key facts

• 2,704 sq ft lot
• Built 1955
• Listed 48 days

🏷️ Possibly a rental listed for sale. The $630 price doesn't fit this home's estimated sale value (~$952,128) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $630.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $630).
• Recommended offer: $611 (3.0% below list) — sets the bar for market timing.
• Cap rate 5485.6% 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: 193 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4 of loan paydown is wiped out by about $19 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 (-3.0% appreciation + 3.0% rent growth), your $176 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($611) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $699k (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $611 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 578.86% ✓
• Cap rate: 5485.61%
• Cash-on-cash: 19568.99%
• DSCR: 871.71
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $952,128
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14019 183rd St	0.57mi	4/2.0	1,800 (+4%)	2mo	$790,000	$439	65
221-20 137th Ave	0.37mi	4/2.0	1,544 (-11%)	2mo	$850,000	$551	64
22039 136th Ave	0.50mi	3/2.0 (-1)	1,650 (-4%)	1mo	$940,000	$570	63
13826 Brookville Blvd	0.69mi	5/2.0 (+1)	1,724 (-0%)	6mo	$849,000	$492	57

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: —
• Equity multiple: 1015.60×
• Total profit: $178,976
• Equity at exit: $94

10-year hold

• IRR: —
• Equity multiple: 2193.21×
• Total profit: $386,707
• Equity at exit: $54

Cash invested: $176 (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 11413

• Active inventory: 193

Monthly cashflow live

• Estimated rent: $3,647 high
• Mortgage (P&I): −$3
• Tax est. 1.5%: −$1 /mo · $9/yr
• Insurance: −$0
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $2,810

Break-even live

Break-even rent $90

Max offer price $630

Occupancy floor 18%

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: $158
• Closing costs: $19
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138-26 223rd St #1 Jamaica, NY	4.0	1.0	2085	$4,000	$1.92	24d	1	0.24mi
219-16 141st Ave Unit 2 Jamaica, NY	4.0	2.0	1050	$4,400	$4.19	24d	1	0.25mi
228-20 Edgewood Ave Unit A Jamaica, NY	3.0	2.0	2208	$3,200	$1.45	24d	1	0.27mi
144-35 224th St Unit First Floor Jamaica, NY	3.0	2.0	1970	$3,800	$1.93	24d	1	0.42mi
230-38 144th Ave Unit 1st Floor Jamaica, NY	3.0	1.0	1922	$3,400	$1.77	24d	1	0.47mi
13525 223rd St Laurelton, NY	3.0	2.0	1200	$3,400	$2.83	24d	1	0.49mi
14519 220th St Springfield Gardens, NY	3.0	2.0	1200	$3,800	$3.17	24d	1	0.56mi
14547 224th St Springfield Gardens, NY	3.0	1.0	1880	$3,500	$1.86	24d	1	0.57mi
231-10 145th Ave Unit ONE Jamaica, NY	3.0	1.0	1872	$3,750	$2.00	22d	1	0.60mi
14578 226th St Springfield Gardens, NY	3.0	1.5	2100	$3,600	$1.71	24d	1	0.63mi
13719 Southgate St Springfield Gardens, NY	3.0	1.0	1672	$3,400	$2.03	24d	1	0.64mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	14d	1	0.71mi
18021 140th Ave Jamaica, NY	3.0	2.0	2102	$3,800	$1.81	24d	1	0.71mi
14720 226th St Springfield Gardens, NY	3.0	2.0	1100	$3,300	$3.00	20d	1	0.82mi
179-12 145th Ave Unit 1 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	2d	1	0.83mi
179-12 145th Ave Unit 2 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	24d	1	0.83mi
147-29 Springfield Ln Unit 1 Jamaica, NY	3.0	2.0	1980	$3,500	$1.77	17d	1	0.89mi
14019 247th St Rosedale, NY	3.0	2.0	2058	$4,100	$1.99	1d	1	0.90mi
147-36 Springfield Ln Unit 1 Springfield Gardens, NY	3.0	2.0	1750	$3,500	$2.00	24d	1	0.91mi
176-34 133rd Ave Unit 2nd Floor Jamaica, NY	4.0	2.0	2244	$3,500	$1.56	24d	1	0.94mi
170-16 143rd Rd Unit 2 Jamaica, NY	3.0	2.0	1125	$3,600	$3.20	24d	1	1.02mi
248-13 139th Ave Unit 2F Jamaica, NY	4.0	2.0	1500	$4,000	$2.67	5d	1	1.04mi
249-17 147th Rd Unit 1 Jamaica, NY	3.0	2.0	2000	$4,400	$2.20	1d	1	1.05mi
249-10 139th Ave Unit 1 Jamaica, NY	4.0	2.0	1500	$4,600	$3.07	18d	1	1.06mi
238-23 148th Dr Unit 1st Floor Jamaica, NY	3.0	1.5	1435	$3,500	$2.44	19d	1	1.10mi
245-09 148th Rd Unit 2 Jamaica, NY	3.0	2.0	2086	$3,373	$1.62	22d	1	1.13mi
12054 194th St Saint Albans, NY	3.0	1.0	1099	$3,200	$2.91	24d	1	1.27mi
167-11 144th Dr Unit 2nd Floor Jamaica, NY	3.0	1.0	2016	$3,850	$1.91	24d	1	1.37mi
12606 172nd St Jamaica, NY	3.0	2.0	1050	$3,200	$3.05	19d	1	1.41mi

Listing history 12 events

1. 2025-12-26
   status Pending
2. 2025-11-28
   price $630
3. 2025-11-08
   listed $700,000 Active
4. 2020-08-11
   historical
5. 2020-03-26
   status Pending
6. 2019-12-12
   historical
7. 2019-12-11
   status Pending Bank Approval (Short Sale)
8. 2019-10-09
   listed $450,000 New
9. 2016-03-04
   historical
10. 2015-04-08
    listed $379,990
11. 2004-08-19
    soldstatus $520,000
12. 1997-12-23
    soldstatus $205,000

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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 72% 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: $43,762
• − Mortgage interest: −$35
• − Property taxes: −$9
• − Insurance: −$801
• − Repairs & maintenance: −$3,501
• − Management: −$3,501
• − Depreciation: −$18
• Taxable income: $35,896
• Est. tax owed @ 24.0%: −$8,615
• After-tax cash flow: $25,107/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): 45,072

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 (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 9% Two or more races 4% Asian 2% White 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 3%
• Common ancestry: Hispanic 6%
• Foreign-born: 39% · Canada, Mexico
• Languages at home: 84% English-only · French/Haitian/Cajun 7% Spanish 6% Other Indo-European 1%

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: ▼ -390.89%
• Current HPI: 311.5327
• 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

+241.5% since first listed

12 events — show timeline

• 2025-12-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-28 Price Changed $630 OneKey® MLS as Distributed by MLS Grid
• 2025-11-08 Listed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-03-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-12-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-12-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-10-09 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-04-08 Listed $379,990 OneKey® MLS as Distributed by MLS Grid
• 2004-08-19 Sold (Public Records) $520,000 Public Records
• 1997-12-23 Sold (Public Records) $205,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $7,804 · +2.2% YoY. Source: county tax records.