97-19 87th St · New York, NY 11416

$825,000

6 bd · 2.0 ba · 1,880 sqft · MultiFamily public records · 28 Days on market

Built 1930 2,500 sqft lot Est $1032k · 20% 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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• 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: 2 units. confirmed

Listing remarks

This spacious two-family home is ideal for both investors and owner-occupants, offering exceptional value and versatility. Featuring three bedrooms on the first floor and three bedrooms on the second, along with a finished basement and a lot of storage space. The property also offers a beautiful, large backyard, perfect for outdoor enjoyment or entertaining. Conveniently located with close proximity to local schools, including P. S. 232 elementary school and John Adams High School, JFK airport as well as public transportation including the A train, grocery stores, parks, and everyday amenities. A fantastic opportunity at a great price! * Please note that select images have been digitally

Key facts

• Grocery stores
• Large backyard
• Finished basement

Tags

• FINISHED BASEMENT
• LARGE BACKYARD
• PUBLIC TRANSPORTATION
• GROCERY STORES
• PARKS

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Public water connected; Trash collection (public)
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not on the waterfront

Interior

• Bedrooms: One 3-bedroom unit
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Washer/dryer hookup; Common laundry area; Laundry room in basement
• Laundry & utility: Common area laundry; Basement laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $825k.

Deal economics

• At list price, monthly cash flow is $-2 ($-26/yr) — negative. Per door: $-1/mo.
• To cash-flow at today's rent, offer at most $825k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $658k (20.3% below list).
• Recommended offer: $658k (20.3% 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: 55 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 $6k of loan paydown is wiped out by about $25k 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 28 days — a 2% lower offer ($813k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $175k; list at $825k implies a 371% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $657,700 (20.3% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $1,032,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80-60 90 Ave	0.44mi	5/2.0 (-1)	1,848 (-2%)	2mo	$875,000	$473	70
95-15 84 St	0.16mi	6/3.0	1,684 (-10%)	2mo	$1,050,000	$624	69
10109 97th Ave	0.64mi	6/2.0	1,920 (+2%)	1mo	$1,300,000	$677	66
10118 94th St	0.34mi	6/2.0	2,096 (+12%)	2mo	$1,150,000	$549	63
91-49 86th St	0.26mi	6/3.0	2,160 (+15%)	2mo	$1,170,000	$542	57
9406 76th St	0.54mi	5/3.0 (-1)	1,814 (-4%)	4mo	$875,000	$482	57
10301 97th Ave	0.72mi	6/3.0	1,944 (+3%)	0mo	$1,100,000	$566	56
9018 77th St	0.61mi	7/3.0 (+1)	1,832 (-3%)	5mo	$950,000	$519	54
273 Grant Ave	0.74mi	6/2.0	2,000 (+6%)	5mo	$997,500	$499	51
9117 78th St	0.50mi	5/2.0 (-1)	1,696 (-10%)	5mo	$945,000	$557	51
87-44 89 St	0.56mi	5/2.0 (-1)	1,626 (-14%)	5mo	$910,000	$560	42
87-38 94th St	0.65mi	5/2.0 (-1)	2,160 (+15%)	6mo	$960,000	$444	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: $-134,034
• Equity at exit: $123,010

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-117,745
• Equity at exit: $71,331

Cash invested: $231,000 (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 11416

• Active inventory: 55
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $6,577 high
• Mortgage (P&I): −$4,326
• Tax from tax record: −$528 /mo · $6,334/yr
• Insurance: −$344
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,381
• Net cashflow: $-2

Break-even live

Break-even rent $6,580

Max offer price $824,617

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,576
Total (2 units)			$6,577

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: $206,250
• Closing costs: $24,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-20
   status Pending
2. 2026-04-21
   listed $825,000 Active
3. 1995-10-30
   soldstatus $175,000

ⓘ 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: $6,334 · $528/mo
• Projected year-2 tax: $10,138 · $845/mo
• Expected delta: +$3,804/yr (+$317/mo · 60.1%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $78,924
• − Mortgage interest: −$46,213
• − Property taxes: −$6,334
• − Insurance: −$4,125
• − Repairs & maintenance: −$6,314
• − Management: −$6,314
• − Depreciation: −$24,000
• Taxable loss: −$14,376
• Est. tax savings @ 24.0%: +$3,450
• After-tax cash flow: $3,424/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): 26,660

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 0.69)
• Race & ethnicity: Hispanic / Latino 43% Asian 33% Two or more races 17% White 12% Black 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Dominican 11%
• Common ancestry: Romanian 3%
• Foreign-born: 54% · Canada, Jamaica, China
• Languages at home: 35% English-only · Spanish 37% Other Indo-European 21% Russian/Polish/Slavic 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: ▼ -185.71%
• Current HPI: 274.1375
• 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

+371.4% since first listed

3 events — show timeline

• 2026-05-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-21 Listed $825,000 OneKey® MLS as Distributed by MLS Grid
• 1995-10-30 Sold (Public Records) $175,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $6,334 · +3.3% YoY. Source: county tax records.