1308 33rd Ave · New York, NY 11106

$1,439,000

4 bd · 3.0 ba · 2,262 sqft · MultiFamily public records · 158 Days on market

Built 1996 1,256 sqft lot Est $1269k · 13% over

---

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 +17.2/30.0
• Appreciation +6.0/10.0
• DSCR +5.4/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0

Multi-family units

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

Listing remarks

Welcome to this exceptional two-family home nestled in a quiet and highly desirable area of Astoria. This well-maintained property offers two spacious units, ideal for new homeowners, large families, or savvy investors seeking an income-producing opportunity in one of Queens’ most sought-after neighborhoods. Each unit features bright, open living spaces with large windows that fill the rooms with natural light and capture beautiful views of the city skyline and nearby park. The home offers private parking, a rare find in Astoria, providing convenience and peace of mind. Located on a tranquil tree-lined street, you’ll enjoy a perfect blend of privacy and accessibility—just

Key facts

• 1,256 sq ft lot
• 2 parking spots
• Built 1996

Property features AI

Finance

• HOA & community: HOA fee of $100 per month

Exterior

• Parking: Two parking spaces; On-street parking available; Assigned and common parking; Alley access
• Utilities: Public sewer; Water connected; Electricity connected; Natural gas connected; Cable connected; Phone connected; Trash collection (public)
• Home design: Duplex
• Construction: Brick construction; Crawl attic
• Exterior features: Brick exterior; Fenced front and back yards (chain link and vinyl); No waterfront

Interior

• Kitchen: Eat-in kitchen with granite countertops; Open kitchen layout; Pantry
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Flooring: Carpet; Hardwood
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Natural gas heating; Baseboard heating; Ductless cooling; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Chandelier; Eat-in kitchen; Entrance foyer; Formal dining room; Granite countertops; Open floorplan; Open kitchen; Pantry; Storage
• Laundry & utility: In-unit laundry; Washer hookup inside; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $1.44M.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $515/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 $1.24M (13.9% below list).
• Recommended offer: $1.24M (13.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $12,388/mo this rent would consume 175% 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 $40k of equity ($10k loan paydown + $30k 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 $403k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$100k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $330k; list at $1.44M implies a 336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,238,800 (13.9% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 14% 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. 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: 0.86% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $1,268,982
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1442 33rd Ave	0.11mi	5/3.0 (+1)	2,301 (+2%)	13mo	$1,290,000	$561	76

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: 10.0%
• Equity multiple: 1.56×
• Total profit: $224,133
• Equity at exit: $572,589

10-year hold

• IRR: 15.1%
• Equity multiple: 3.22×
• Total profit: $895,645
• Equity at exit: $828,401

Cash invested: $402,920 (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: 19.4×

Monthly cashflow live

• Estimated rent: $12,388 high
• Mortgage (P&I): −$7,546
• Tax from tax record: −$610 /mo · $7,316/yr
• Insurance: −$600
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,601
• Net cashflow: $1,031

Break-even live

Break-even rent $11,083

Max offer price $1,439,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$12,388
Total (2 units)			$12,388

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: $359,750
• Closing costs: $43,170
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2812 37th St Astoria, NY	3.0	1.5	2200	$4,700	$2.14	19d	1	1.01mi
422 E 72nd St Unit 32DE New York, NY	4.0	4.5	3368	$40,000	$11.88	25d	1	1.05mi
344 E 84th St #1 New York, NY	3.0	2.5	2100	$14,000	$6.67	22d	1	1.08mi
200 E 69th St New York, NY	2.0–3.0	2.5–3.5	1958	$20,000	$10.21	2d	2	1.39mi
120 E 87th St Unit R18BC New York, NY	3.0	3.0	2700	$24,000	$8.89	25d	1	1.45mi

Listing history 6 events

1. 2026-05-06
   status Pending
2. 2025-11-10
   listed $1,439,000 Active
3. 2025-11-06
   historical $1,439,000
4. 2005-12-28
   soldstatus $330,000
5. 1997-05-21
   soldstatus $307,500
6. 1997-05-21
   soldstatus $307,500

ⓘ 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: $7,316 · $610/mo
• Projected year-2 tax: $15,818 · $1,318/mo
• Expected delta: +$8,502/yr (+$708/mo · 116.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $148,656
• − Mortgage interest: −$80,606
• − Property taxes: −$7,316
• − Insurance: −$7,195
• − Repairs & maintenance: −$11,892
• − Management: −$11,892
• − Depreciation: −$41,862
• Taxable loss: −$12,108
• Est. tax savings @ 24.0%: +$2,906
• After-tax cash flow: $15,278/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

+368.0% since first listed

6 events — show timeline

• 2026-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-10 Listed $1,439,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-06 Coming Soon $1,439,000 OneKey® MLS as Distributed by MLS Grid
• 2005-12-28 Sold (Public Records) $330,000 Public Records
• 1997-05-21 Sold (Public Records) $307,500 Public Records
• 1997-05-21 Sold (Public Records) $307,500 Public Records

Property tax history

+13.5%/yr

Latest (2025): $7,316 · -2.4% YoY. Source: county tax records.