97-28 41st Ave · New York, NY 11368

$1,599,999

28 bd · 16.0 ba · 2,960 sqft · MultiFamily public records · 42 Days on market

Built 1931 2,367 sqft lot ↓ 5% since listing

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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).

• Appreciation +8.7/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.6/10.0

Multi-family units

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

Listing remarks MLS

Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

Key facts

• 2,367 sq ft lot
• Built 1931
• Listed 42 days

Property features AI

Finance

• Financial info: Property tax information recorded for 2026

Exterior

• Parking: Common parking (no carport)
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water connected; Trash collection (public)
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: One 4-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating; Steam heating; Wall/window air conditioning units
• Interior features: Finished full basement with walk-out access; Other interior features

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative. Per door: $-487/mo.
• To cash-flow at today's rent, offer at most $1.26M (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.06M (34.1% below list).
• Recommended offer: $1.06M (34.1% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: 243 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $10,551/mo this rent would consume 175% of the median local household income ($72k/yr) (locally 6817% 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 $129k of equity ($11k loan paydown + $118k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$207k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $1,055,100 (34.1% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.66% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.22%
• DSCR: 0.77
• GRM: 12.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 2.06×
• Total profit: $473,824
• Equity at exit: $1,150,805

10-year hold

• IRR: 14.5%
• Equity multiple: 4.27×
• Total profit: $1,466,465
• Equity at exit: $2,225,197

Cash invested: $448,000 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 48.9×

Monthly cashflow live

• Estimated rent: $10,551 high
• Mortgage (P&I): −$8,391
• Tax from tax record: −$1,226 /mo · $14,718/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,216
• Net cashflow: $-1,948

Break-even live

Break-even rent $13,017

Max offer price $1,255,800

Occupancy floor —

Sensitivity live

Price	-10% $-1,043	-5% $-1,496	+0% $-1,948	+5% $-2,401	+10% $-2,854
Rent	-10% $-2,782	-5% $-2,365	+0% $-1,948	+5% $-1,532	+10% $-1,115
Rate	-1.0pp $-1,143	-0.5pp $-1,541	base $-1,948	+0.5pp $-2,363	+1.0pp $-2,785

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,175
1× unit	1	1	$2,375
Total (4 units)			$10,551

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: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $1,599,999 Active 42 DOM
2. 2026-06-17
   days on market $1,599,999 Active 41 DOM
3. 2026-06-16
   days on market $1,599,999 Active 40 DOM
4. 2026-06-15
   days on market $1,599,999 Active 39 DOM
5. 2026-06-13
   days on market $1,599,999 Active 37 DOM
6. 2026-06-10
   days on market $1,599,999 Active 33 DOM
7. 2026-06-08
   days on market $1,599,999 Active 32 DOM
8. 2026-06-08
   days on market $1,599,999 Active 31 DOM
9. 2026-06-04
   days on market $1,599,999 Active 28 DOM
10. 2026-06-03
    days on market $1,599,999 Active 27 DOM
11. 2026-06-01
    days on market $1,599,999 Active 25 DOM
12. 2026-05-31
    days on market $1,599,999 Active 24 DOM
13. 2026-05-07
    listed $1,599,999 Active
14. 2026-04-01
    historical
15. 2025-09-30
    listed $1,600,000 Active
16. 2022-08-12
    soldstatus $1,510,000
17. 2022-07-29
    soldstatus $1,510,000 Closed 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

18. 2022-03-07
    status Pending 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

19. 2022-03-01
    historical 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

20. 2022-03-01
    status Active 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

21. 2022-02-19
    historical 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

22. 2022-02-15
    status Active 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

23. 2022-02-07
    historical 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

24. 2021-10-30
    listed $1,688,000 Active 1099-char remark

    Show marketing remark (1099 chars)

    Rare Opportunity to own an Income Producing Legal Four Family in prime location of North Corona, Queens. Situated two blocks to Roosevelt Avenue & 7-Line Express Subway into Manhattan (Junction Blvd Stop). Annual Income: $96,600. There are four apartments; Three apartments are 2-bedrooms w/ living room, full bath, & eat-in-kitchen. In addition there is one 1-bedroom apartment w/ a living room, full bath, eat-in-kitchen that may also be converted to a 2-bedroom apartment. Each apartment has high 10 foot ceilings & has many windows that give way for a lot of natural sunlight. There are separate gas & electric meters. The basement is finished, w/ high 7.5 foot ceilings, & three separate entrances: front, rear, & interior access. The boiler & water heater were recently maintained & replaced. This is a highly desirable location close to Laguardia Airport, Flushing Meadow Park, Citi Field, Mass Transit, Few Short Blocks to NYC Express Subway 7 Line, Buses, Shopping, Parks and Fine Dining., Additional information: Appearance:Excellent,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: $14,718 · $1,226/mo
• Projected year-2 tax: $20,879 · $1,740/mo
• Expected delta: +$6,161/yr (+$513/mo · 41.9%)

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $126,612
• − Mortgage interest: −$89,625
• − Property taxes: −$14,718
• − Insurance: −$8,000
• − Repairs & maintenance: −$10,129
• − Management: −$10,129
• − Depreciation: −$46,545
• Taxable loss: −$52,534
• Est. tax savings @ 24.0%: +$12,608
• After-tax cash flow: $-10,773/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% 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: ▲ 7.40%
• Current HPI: 282.8276
• Rent YoY: —
• 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

-5.2% since first listed

12 events — show timeline

• 2026-05-07 Listed $1,599,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-30 Listed $1,600,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-12 Sold (Public Records) $1,510,000 Public Records
• 2022-07-29 Sold (MLS) $1,510,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-03-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-02-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-02-15 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-02-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-10-30 Listed $1,688,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $14,718 · -1.0% YoY. Source: county tax records.