216-23 136th Rd · New York, NY 11413

$1,200,000

6 bd · 3.9 ba · 2,640 sqft · MultiFamily public records · 106 Days on market

Built 1935 3,300 sqft lot Est $1272k · 6% under

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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 +13.2/30.0
• ARV discount +10.1/15.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• 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: 3 units. confirmed

Listing remarks

Welcome to this beautifully renovated colonial home in the heart of Laurelton, New York, offering the perfect blend of classic charm and modern comfort. This legal three-family residence boasts a spacious layout with 7 bedrooms and 4 bathrooms, ideal for multi-generational living or as an investment opportunity. The inviting first-floor unit features 3 generously sized bedrooms and 2 bathrooms, providing ample space. The well-appointed second-floor unit includes 2 bedrooms and 1 bathroom. The third unit also comprises 2 bedrooms and 1 bathroom, offering a cozy and comfortable living environment with all the modern upgrades. The property includes a private driveway, ensuring convenience and

Key facts

• Private driveway
• Generous backyard
• 3,300 sq ft lot

Tags

• RENOVATED COLONIAL HOME
• LEGAL THREE-FAMILY RESIDENCE
• PRIVATE DRIVEWAY
• GENEROUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-12 ($-149/yr) — negative. Per door: $-4/mo.
• To cash-flow at today's rent, offer at most $1.20M (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $939k (21.7% below list).
• Recommended offer: $939k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 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 $8k of loan paydown is wiped out by about $36k 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 106 days — a 9% lower offer ($1.09M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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 $545k; list at $1.20M implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $939,200 (21.7% 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 106 days. Have you received any prior offers? Is the seller open to a 22% 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.78% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $1,272,480
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13526 219th St	0.12mi	6/—	2,340 (-11%)	2mo	$772,500	$330	74
13416 Garrett St	0.57mi	6/4.0	2,544 (-4%)	13mo	$1,225,000	$482	56
17836 Eveleth Rd	0.52mi	5/3.0 (-1)	2,500 (-5%)	7mo	$910,000	$364	52
13012 178th St	0.57mi	6/4.0	2,352 (-11%)	6mo	$1,250,000	$531	50
130-16 178th St	0.56mi	6/5.0	2,400 (-9%)	23mo	$1,330,000	$554	35

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-195,631
• Equity at exit: $178,924

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-172,946
• Equity at exit: $103,754

Cash invested: $336,000 (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: 193
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $9,392 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$639 /mo · $7,670/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,972
• Net cashflow: $-12

Break-even live

Break-even rent $9,408

Max offer price $1,197,802

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$9,393
Total (3 units)			$9,392

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   status $1,200,000 Pending 106 DOM
2. 2026-06-18
   days on market $1,200,000 Active 106 DOM
3. 2026-06-17
   days on market $1,200,000 Active 105 DOM
4. 2026-06-15
   days on market $1,200,000 Active 103 DOM
5. 2026-06-13
   days on market $1,200,000 Active 101 DOM
6. 2026-06-10
   days on market $1,200,000 Active 97 DOM
7. 2026-06-08
   days on market $1,200,000 Active 96 DOM
8. 2026-06-08
   days on market $1,200,000 Active 95 DOM
9. 2026-06-04
   statusdays on market $1,200,000 Active 92 DOM
10. 2026-03-25
    status Pending
11. 2026-03-03
    status Active
12. 2026-03-03
    historical
13. 2026-02-25
    status Active
14. 2026-02-19
    status Pending
15. 2026-01-20
    price $1,200,000
16. 2025-12-16
    listed $1,250,000 Active
17. 2025-06-05
    historical
18. 2025-05-28
    price $1,275,000
19. 2025-05-23
    status Active
20. 2024-10-02
    status Pending
21. 2024-08-29
    listed $1,350,000 Active
22. 2019-11-18
    historical
23. 2019-08-17
    listed $689,000 New
24. 2019-05-17
    historical
25. 2019-04-23
    status Under Contract
26. 2019-02-05
    listed $829,900 New
27. 2009-10-22
    soldstatus $545,000
28. 2004-07-21
    soldstatus $360,000

ⓘ 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: $7,670 · $639/mo
• Projected year-2 tax: $13,975 · $1,165/mo
• Expected delta: +$6,305/yr (+$525/mo · 82.2%)

ⓘ 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 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $112,704
• − Mortgage interest: −$67,219
• − Property taxes: −$7,670
• − Insurance: −$6,000
• − Repairs & maintenance: −$9,016
• − Management: −$9,016
• − Depreciation: −$34,909
• Taxable loss: −$21,127
• Est. tax savings @ 24.0%: +$5,070
• After-tax cash flow: $4,921/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

+233.3% since first listed

19 events — show timeline

• 2026-03-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Listed $1,250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $1,275,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-10-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-08-29 Listed $1,350,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-08-17 Listed $689,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-04-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-05 Listed $829,900 OneKey® MLS as Distributed by MLS Grid
• 2009-10-22 Sold (Public Records) $545,000 Public Records
• 2004-07-21 Sold (Public Records) $360,000 Public Records

Property tax history

+6.0%/yr

Latest (2024): $7,670 · +4.8% YoY. Source: county tax records.