13-03 A 128th St · New York, NY 11356

$1,450,000

48 bd · 24.0 ba · 1,962 sqft · MultiFamily · 52 Days on market

Built 2003

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 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: 6 units. estimate disagrees with records

Listing remarks MLS

, Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

Key facts

• Garage
• Built 2003
• Listed 51 days

Property features AI

Exterior

• Parking: One-car garage; One-car carport
• Utilities: Public sewer; Cable available
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Contains a 4-bedroom unit
• Flooring: Hardwood floors
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Finished full basement with walk-out access
• Laundry & utility: Gas dryer hookup in the basement

What this means for you Summary

Snapshot

• This is a 6 × 4-bed/2.0-bath units multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive. Per door: $685/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.45M).
• Recommended offer: $1.41M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+12.1%/yr); 133 active listings in the ZIP; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $17,884/mo this rent would consume 247% of the median local household income ($87k/yr) (locally 1545% 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 (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $44k 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 + 8.0% rent growth), your $406k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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.
• Current owner paid $6k; list at $1.45M implies a 26264% gain — meaningful room to come down on a strong offer.

Recommended offer $1,406,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.30×
• Total profit: $121,444
• Equity at exit: $216,200

10-year hold

• IRR: 20.5%
• Equity multiple: 3.15×
• Total profit: $873,897
• Equity at exit: $125,369

Cash invested: $406,000 (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 11356

• Home prices YoY: -28.9%
• Rents YoY: 12.1%
• Active inventory: 133
• Price-to-rent: 40.5×

Monthly cashflow live

• Estimated rent: $17,884 medium
• Mortgage (P&I): −$7,604
• Tax est. 1.5%: −$1,812 /mo · $21,750/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,756
• Net cashflow: $4,108

Break-even live

Break-even rent $12,684

Max offer price $1,450,000

Occupancy floor 72%

Sensitivity live

Price	-10% $5,110	-5% $4,609	+0% $4,108	+5% $3,607	+10% $3,106
Rent	-10% $2,695	-5% $3,401	+0% $4,108	+5% $4,814	+10% $5,521
Rate	-1.0pp $4,838	-0.5pp $4,477	base $4,108	+0.5pp $3,732	+1.0pp $3,350

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

Units	Beds	Baths	Est. rent
▸ 6× units	4	2	$17,886
Total (6 units)			$17,884

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $1,450,000 Active 52 DOM
2. 2026-06-18
   days on market $1,450,000 Active 49 DOM
3. 2026-06-17
   days on market $1,450,000 Active 48 DOM
4. 2026-06-16
   days on market $1,450,000 Active 47 DOM
5. 2026-06-15
   days on market $1,450,000 Active 46 DOM
6. 2026-06-13
   days on market $1,450,000 Active 44 DOM
7. 2026-06-10
   days on market $1,450,000 Active 40 DOM
8. 2026-06-08
   days on market $1,450,000 Active 39 DOM
9. 2026-06-08
   days on market $1,450,000 Active 38 DOM
10. 2026-06-04
    days on market $1,450,000 Active 35 DOM
11. 2026-06-03
    days on market $1,450,000 Active 34 DOM
12. 2026-06-01
    days on market $1,450,000 Active 32 DOM
13. 2026-05-31
    days on market $1,450,000 Active 31 DOM
14. 2026-04-30
    listed $1,450,000 Active
15. 2019-04-24
    soldstatus $5,500 Closed 95-char remark

    Show marketing remark (95 chars)

    , Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

16. 2019-02-01
    status Under Contract 95-char remark

    Show marketing remark (95 chars)

    , Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

17. 2019-01-11
    price $1,100,000 95-char remark

    Show marketing remark (95 chars)

    , Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

18. 2018-12-29
    price $1,150,000 95-char remark

    Show marketing remark (95 chars)

    , Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

19. 2018-11-05
    listed $1,178,000 New 95-char remark

    Show marketing remark (95 chars)

    , Additional information: Appearance:Diamond,Interior Features:Lr/Dr,Separate Hotwater Heater:2

20. 2018-11-01
    historical
21. 2018-07-15
    listed $1,195,000 New
22. 2018-07-12
    historical
23. 2018-06-21
    price $1,198,000
24. 2018-06-04
    price $1,228,000
25. 2018-05-21
    historical
26. 2018-05-21
    listed $1,298,000 New
27. 2018-04-24
    listed $1,298,000 New
28. 2018-04-07
    historical
29. 2018-03-30
    listed $1,298,000 New
30. 2017-07-01
    historical
31. 2017-03-26
    listed $1,058,000 New

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

Taxation est. · year 1

• Rental income: $214,608
• − Mortgage interest: −$81,223
• − Property taxes: −$21,750
• − Insurance: −$7,250
• − Repairs & maintenance: −$17,169
• − Management: −$17,169
• − Depreciation: −$42,182
• Taxable income: $27,866
• Est. tax owed @ 24.0%: −$6,688
• After-tax cash flow: $42,605/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): 25,824
• Household income: $86,730
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1545.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 42% Asian 35% White 21% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 8%
• Common ancestry: Romanian 1%
• Foreign-born: 53% · Canada, China, South Korea
• Languages at home: 26% English-only · Spanish 35% Chinese 23% Other Indo-European 8%

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: ▼ -95.50%
• Current HPI: 235.1217
• Rent YoY: ▲ 12.13%
• 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

+37.1% since first listed

18 events — show timeline

• 2026-04-30 Listed $1,450,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-24 Sold (MLS) $5,500 OneKey® MLS as Distributed by MLS Grid
• 2019-02-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-01-11 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-29 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2018-11-05 Listed $1,178,000 OneKey® MLS as Distributed by MLS Grid
• 2018-11-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-07-15 Listed $1,195,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-06-21 Price Changed $1,198,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-04 Price Changed $1,228,000 OneKey® MLS as Distributed by MLS Grid
• 2018-05-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-05-21 Listed $1,298,000 OneKey® MLS as Distributed by MLS Grid
• 2018-04-24 Listed $1,298,000 OneKey® MLS as Distributed by MLS Grid
• 2018-04-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-03-30 Listed $1,298,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-03-26 Listed $1,058,000 OneKey® MLS as Distributed by MLS Grid