96-18 Shore Front Pkwy · New York, NY 11693

$1,198,000

6 bd · 5.0 ba · 3,000 sqft · MultiFamily public records · 82 Days on market

Built 2003 1,541 sqft lot Est $939k · 28% over

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Why this score? — see what drove the F 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 +10.0/10.0
• Cash flow +7.8/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.4/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Welcome to beautiful Rockaway Beach view house. close to train . Huge 2 -family 4000 building size with 3000 sqft living area and 1000 sqft basement . 1 fl - 2 bedroom 2 bathroom and living room with own heating system and thermostat . perfect income. 2 fl duplex 3 fl 4 bedroom with 3 bathroom . expansive balcony with beautiful ocean viewing sea breezes. Must see.

Key facts

• Own heating system
• Expansive balcony
• Basement

Tags

• HUGE 2 FAMILY
• LIVING AREA
• BASEMENT
• OWN HEATING SYSTEM
• EXPANSIVE BALCONY
• OCEAN VIEWING

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Driveway; One garage space
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Duplex; 3,000 total building area (per appraiser)
• Construction: Aluminum siding construction
• Exterior features: Waterfront property; Aluminum siding

Interior

• Bedrooms: One 4-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Electric cooling; Heating via baseboard and natural gas
• Interior features: Other interior features; Basement with walk-out access

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative. Per door: $-664/mo.
• To cash-flow at today's rent, offer at most $963k (19.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $764k (36.3% below list).
• Recommended offer: $764k (36.3% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: 67 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• In year one you build about $128k of equity ($8k loan paydown + $120k appreciation (10.0% 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 ~$206k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $431k; list at $1.20M implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% 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 $763,700 (36.3% 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 82 days. Have you received any prior offers? Is the seller open to a 36% 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. 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: 0.64% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.75%
• DSCR: 0.79
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $939,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2-16 Beach 98 St	0.15mi	5/3.0 (-1)	2,902 (-3%)	5mo	$907,000	$313	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.69×
• Total profit: $567,396
• Equity at exit: $1,079,253

10-year hold

• IRR: 18.9%
• Equity multiple: 6.18×
• Total profit: $1,736,539
• Equity at exit: $2,327,451

Cash invested: $335,440 (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 11693

• Home prices YoY: 17.7%
• Active inventory: 67
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $7,637 high
• Mortgage (P&I): −$6,282
• Tax from tax record: −$580 /mo · $6,962/yr
• Insurance: −$499
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,604
• Net cashflow: $-1,329

Break-even live

Break-even rent $9,319

Max offer price $963,301

Occupancy floor —

Sensitivity live

Price	-10% $-650	-5% $-989	+0% $-1,329	+5% $-1,668	+10% $-2,007
Rent	-10% $-1,932	-5% $-1,630	+0% $-1,329	+5% $-1,027	+10% $-725
Rate	-1.0pp $-725	-0.5pp $-1,024	base $-1,329	+0.5pp $-1,639	+1.0pp $-1,955

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$7,636
Total (2 units)			$7,637

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: $299,500
• Closing costs: $35,940
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,198,000 Active 82 DOM
2. 2026-06-18
   days on market $1,198,000 Active 79 DOM
3. 2026-06-17
   days on market $1,198,000 Active 78 DOM
4. 2026-06-15
   days on market $1,198,000 Active 76 DOM
5. 2026-06-13
   days on market $1,198,000 Active 74 DOM
6. 2026-06-10
   pricedays on market $1,198,000 Active 70 DOM
7. 2026-06-08
   days on market $1,298,000 Active 69 DOM
8. 2026-06-08
   days on market $1,298,000 Active 68 DOM
9. 2026-06-04
   days on market $1,298,000 Active 65 DOM
10. 2026-06-03
    days on market $1,298,000 Active 64 DOM
11. 2026-06-01
    days on market $1,298,000 Active 62 DOM
12. 2026-05-31
    remarks 368-char remark
13. 2026-05-31
    days on market $1,298,000 Active 61 DOM
14. 2026-05-11
    price $1,298,000
15. 2026-03-31
    listed $1,398,000 Active
16. 2003-11-18
    soldstatus $431,059

ⓘ 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: $6,962 · $580/mo
• Projected year-2 tax: $13,604 · $1,134/mo
• Expected delta: +$6,642/yr (+$553/mo · 95.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 51% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,644
• − Mortgage interest: −$67,107
• − Property taxes: −$6,962
• − Insurance: −$5,990
• − Repairs & maintenance: −$7,332
• − Management: −$7,332
• − Depreciation: −$34,851
• Taxable loss: −$37,929
• Est. tax savings @ 24.0%: +$9,103
• After-tax cash flow: $-6,840/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): 13,066

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 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 11% Asian 5%
• Hispanic origin (detail): Puerto Rican 8% Dominican 4% Salvadoran 1%
• Common ancestry: Romanian 5% Scotch-Irish 4% Subsaharan African 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 16% Russian/Polish/Slavic 8% 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: ▲ 121.58%
• Current HPI: 807.44
• 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

+201.1% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $1,298,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $1,398,000 OneKey® MLS as Distributed by MLS Grid
• 2003-11-18 Sold (Public Records) $431,059 Public Records

Property tax history

+6.1%/yr

Latest (2025): $6,962 · +2.2% YoY. Source: county tax records.