233-01 Mentone Ave · New York, NY 11413

$750,000

None bd · None ba · — sqft · MultiFamily · 495 Days on market

Built 1930 5,557 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 +14.3/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• 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: 2 units. confirmed

Listing remarks

Legal two family house with a massive lot size (40X 138.92) selling "As Is". Add an additional 1400 sqft to the building if you like by right. High basement ceilings with a side entrance door for access. Brand new heating furnace. Icing on the cake is a two car garage. Property needs work but has a ton of potential. , Additional information: Appearance:Poor, Separate Hotwater Heater:yes

Key facts

• Massive lot size
• Side entrance door
• Additional 1400 sqft

Tags

• TWO FAMILY HOUSE
• MASSIVE LOT SIZE
• ADDITIONAL 1400 SQFT
• HIGH BASEMENT CEILINGS
• SIDE ENTRANCE DOOR
• BRAND NEW HEATING FURNACE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive. Per door: $70/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 $674k (10.1% below list).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $5k of loan paydown is wiped out by about $22k 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.

Negotiation context

• It's been on market 495 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $660,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 495 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
179-12 145 Ave	0.00mi	6/3.0	2,080	2mo	$1,120,000	$538	86
14411 223rd St	0.22mi	6/5.0	2,271	0mo	$1,295,000	$570	77
14027 Coombs St	0.35mi	7/3.0	1,932	2mo	$999,000	$517	70
14019 183rd St	0.45mi	4/2.0	1,800	2mo	$790,000	$439	65
221-20 137th Ave	0.51mi	4/2.0	1,544	2mo	$850,000	$551	62
17808 137th Ave	0.60mi	6/5.0	2,124	2mo	$970,000	$457	58
22039 136th Ave	0.62mi	3/2.0	1,650	1mo	$940,000	$570	58
13526 219th St	0.65mi	6/—	2,340	2mo	$772,500	$330	56
146-06 228th St	0.61mi	5/5.0	2,752	5mo	$1,079,000	$392	55
225-15 147 Ave	0.63mi	6/3.0	2,800	4mo	$1,050,000	$375	55
223-12 134th Rd	0.72mi	6/5.0	—	0mo	$1,350,000	—	54
14746 223rd St	0.74mi	6/4.0	2,250	2mo	$1,100,000	$489	51

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-112,467
• Equity at exit: $111,827

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-85,980
• Equity at exit: $64,846

Cash invested: $210,000 (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 11413

• Active inventory: 197
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $6,739 high
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,415
• Net cashflow: $141

Break-even live

Break-even rent $6,561

Max offer price $750,000

Occupancy floor 93%

Sensitivity live

Price	-10% $659	-5% $400	+0% $141	+5% $-118	+10% $-378
Rent	-10% $-392	-5% $-125	+0% $141	+5% $407	+10% $673
Rate	-1.0pp $518	-0.5pp $331	base $141	+0.5pp $-54	+1.0pp $-251

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,738
Total (2 units)			$6,739

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14334 222nd St Laurelton, NY	3.0	1.0	700	$2,900	$4.14	19d	1	0.09mi
144-35 224th St Unit First Floor Jamaica, NY	3.0	2.0	1970	$3,800	$1.93	26d	1	0.28mi
228-20 Edgewood Ave Unit A Jamaica, NY	3.0	2.0	2208	$3,200	$1.45	26d	1	0.33mi
14519 220th St Springfield Gardens, NY	3.0	2.0	1200	$3,800	$3.17	26d	1	0.36mi
139-12 Springfield Blvd Unit 1 Jamaica, NY	3.0	4.0	840	$3,753	$4.47	26d	1	0.38mi
14356 230th St Laurelton, NY	2.0	1.0	—	$2,000	—	26d	1	0.40mi
145-20 227th St Unit 2nd Fl Jamaica, NY	3.0	1.0	1	$3,000	$3000.00	14d	1	0.43mi
14547 224th St Springfield Gardens, NY	3.0	1.0	1880	$3,500	$1.86	26d	1	0.43mi
14019 183rd St Springfield Gardens, NY	2.0	1.0	1800	$3,200	$1.78	20d	1	0.43mi
14578 226th St Springfield Gardens, NY	3.0	1.5	2100	$3,600	$1.71	26d	1	0.51mi
230-38 144th Ave Unit 1st Floor Jamaica, NY	3.0	1.0	1922	$3,400	$1.77	26d	1	0.51mi
18021 140th Ave Jamaica, NY	3.0	2.0	2102	$3,800	$1.81	26d	1	0.55mi
13719 Southgate St Springfield Gardens, NY	3.0	1.0	1672	$3,400	$2.03	26d	1	0.55mi
17930 142nd Ave Jamaica, NY	1.0	1.0	120	$1,300	$10.83	26d	1	0.55mi
13746 Bedell St Springfield Gardens, NY	3.0	1.0	2900	$3,500	$1.21	9d	1	0.56mi
138-41 230th Pl Unit 2ND Jamaica, NY	1.0	1.0	592	$2,600	$4.39	26d	1	0.58mi
13724 228th St Laurelton, NY	3.0	1.0	2478	$3,800	$1.53	26d	1	0.59mi
13722 Bedell St Springfield Gardens, NY	3.0	1.0	—	$3,100	—	20d	1	0.60mi
231-10 145th Ave Unit ONE Jamaica, NY	3.0	1.0	1872	$3,750	$2.00	23d	1	0.61mi
179-12 145th Ave Unit 1 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	4d	1	0.61mi
179-12 145th Ave Unit 2 Jamaica, NY	3.0	1.0	2080	$3,500	$1.68	26d	1	0.61mi
13525 223rd St Laurelton, NY	3.0	2.0	1200	$3,400	$2.83	26d	1	0.64mi
17845 145th Rd Jamaica, NY	3.0	1.0	2262	$3,150	$1.39	26d	1	0.65mi
146-38 230th Pl Unit 1st Floor Jamaica, NY	2.0	1.0	1389	$2,650	$1.91	5d	1	0.68mi
14720 226th St Springfield Gardens, NY	3.0	2.0	1100	$3,300	$3.00	22d	1	0.69mi
14720 228th St Springfield Gardens, NY	1.0	1.0	100	$1,100	$11.00	23d	1	0.71mi
147-29 Springfield Ln Unit 1 Jamaica, NY	3.0	2.0	1980	$3,500	$1.77	18d	1	0.72mi
147-36 Springfield Ln Unit 1 Springfield Gardens, NY	3.0	2.0	1750	$3,500	$2.00	26d	1	0.74mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	16d	1	0.77mi
170-16 143rd Rd Unit 2 Jamaica, NY	3.0	2.0	1125	$3,600	$3.20	26d	1	0.81mi
240-30 141st Ave Unit 2 Jamaica, NY	3.0	1.0	800	$3,600	$4.50	20d	1	0.83mi
21836 133rd Rd Springfield Gardens, NY	2.0	1.0	902	$2,895	$3.21	26d	1	0.83mi
14516 Guy R Brewer Blvd Jamaica, NY	2.0	2.0	1350	$3,000	$2.22	3d	1	0.85mi
241-25 144th Ave Unit 2nd Floor Jamaica, NY	2.0	1.0	1680	$2,800	$1.67	16d	1	0.90mi
24312 144th Ave Rosedale, NY	1.0	1.0	800	$2,200	$2.75	26d	1	0.96mi
144-87 176th St Unit 2fl Jamaica, NY	3.0	2.0	—	$3,200	—	26d	1	0.98mi
14019 247th St Rosedale, NY	3.0	2.0	2058	$4,100	$1.99	0d	1	1.07mi
238-23 148th Dr Unit 1st Floor Jamaica, NY	3.0	1.5	1435	$3,500	$2.44	20d	1	1.10mi
167-14 145th Ave Unit 2 Jamaica, NY	3.0	1.0	1000	$3,235	$3.23	26d	1	1.11mi
249-17 147th Rd Unit 1 Jamaica, NY	3.0	2.0	2000	$4,400	$2.20	0d	1	1.14mi

Listing history 6 events

1. 2026-01-02
   status Pending
2. 2025-01-29
   status Active
3. 2024-12-20
   status Pending
4. 2024-10-07
   price $750,000
5. 2024-07-26
   price $775,000
6. 2024-07-16
   listed $699,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $80,868
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,469
• − Management: −$6,469
• − Depreciation: −$21,818
• Taxable loss: −$10,901
• Est. tax savings @ 24.0%: +$2,616
• After-tax cash flow: $4,305/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

+7.3% since first listed

6 events — show timeline

• 2026-01-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-12-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-07 Price Changed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-26 Price Changed $775,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-16 Listed $699,000 OneKey® MLS as Distributed by MLS Grid