54-33 44th St · New York, NY 11378

$549,900

3 bd · 1.0 ba · 1,141 sqft · MultiFamily public records · 14 Days on market

Built 1925 1,700 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 +13.6/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Semi-detached single-family home located in desirable Maspeth. This property features 3 bedrooms, 1 full bath, a bright sunporch, spacious living room, formal dining room, and a work-in kitchen. Full basement offers additional storage or potential. Shared driveway leads to a 1-car garage. Private backyard—perfect for outdoor enjoyment. It is conveniently located near shopping, transportation, and local amenities. Some photos have been digitally enhanced.

Key facts

• Sunporch
• Formal dining room
• Private backyard

Tags

• SUNPORCH
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• WORK-IN KITCHEN
• FULL BASEMENT
• PRIVATE BACKYARD

Property features AI

Finance

• Other: Property information sourced from public records

Exterior

• Parking: Garage (1 space); No carport
• Utilities: Electric service: Con-Edison; Public sewer; No additional utilities listed
• Home design: Single family residence; Living area reported from public records
• Construction: Frame construction
• Exterior features: Back yard; Not waterfront

Interior

• Kitchen: No appliances listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other heating; No central cooling
• Interior features: Full basement; 7 total rooms; Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $34 ($409/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $436k (20.7% below list).
• Recommended offer: $436k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Ps 153 Maspeth Elementary (math 67% / reading 77%, grade A-, #378 of 2,108 statewide, top 20%, 847 students, 68% 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: Rents rising fast (+11.9%/yr); 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $4,361/mo this rent would consume 61% of the median local household income ($86k/yr) (locally 1573% 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 $4k of loan paydown is wiped out by about $16k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $300k; list at $550k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $436,121 (20.7% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.5

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: -11.0%
• Equity multiple: 0.58×
• Total profit: $-64,064
• Equity at exit: $81,992

10-year hold

• IRR: 3.8%
• Equity multiple: 1.33×
• Total profit: $51,205
• Equity at exit: $47,545

Cash invested: $153,972 (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 11378

• Home prices YoY: -21.9%
• Rents YoY: 11.9%
• Active inventory: 134
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $4,361 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$298 /mo · $3,581/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$916
• Net cashflow: $34

Break-even live

Break-even rent $4,318

Max offer price $549,900

Occupancy floor 94%

Sensitivity live

Price	-10% $345	-5% $190	+0% $34	+5% $-122	+10% $-277
Rent	-10% $-310	-5% $-138	+0% $34	+5% $206	+10% $379
Rate	-1.0pp $311	-0.5pp $174	base $34	+0.5pp $-108	+1.0pp $-253

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: $137,475
• Closing costs: $16,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$6,380	$8.80	26d	2	1.05mi

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-04-17
   listed $549,900 Active
3. 2005-05-11
   soldstatus $300,000
4. 2003-08-19
   soldstatus $320,000
5. 2002-04-16
   soldstatus $340,000
6. 2002-04-16
   soldstatus $160,000
7. 1998-10-27
   soldstatus $156,000

ⓘ 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: $3,581 · $298/mo
• Projected year-2 tax: $6,437 · $536/mo
• Expected delta: +$2,856/yr (+$238/mo · 79.7%)

ⓘ 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 27% 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: $52,335
• − Mortgage interest: −$30,803
• − Property taxes: −$3,581
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,187
• − Management: −$4,187
• − Depreciation: −$15,997
• Taxable loss: −$9,170
• Est. tax savings @ 24.0%: +$2,201
• After-tax cash flow: $2,609/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): 36,392
• Household income: $85,830
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1573.0

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 0.63)
• Race & ethnicity: White 48% Hispanic / Latino 35% Asian 15% Two or more races 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Dominican 4%
• Common ancestry: Romanian 16% Italian 1% Scotch-Irish 1%
• Foreign-born: 41% · Canada, China, Jamaica
• Languages at home: 39% English-only · Spanish 27% Russian/Polish/Slavic 16% Chinese 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: ▼ -100.25%
• Current HPI: 358.595
• Rent YoY: ▲ 11.88%
• 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

+252.5% since first listed

7 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Listed $549,900 OneKey® MLS as Distributed by MLS Grid
• 2005-05-11 Sold (Public Records) $300,000 Public Records
• 2003-08-19 Sold (Public Records) $320,000 Public Records
• 2002-04-16 Sold (Public Records) $160,000 Public Records
• 2002-04-16 Sold (Public Records) $340,000 Public Records
• 1998-10-27 Sold (Public Records) $156,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,581 · +2.5% YoY. Source: county tax records.