1325 Gipson St · New York, NY 11691

$999,999

6 bd · 5.0 ba · 2,754 sqft · MultiFamily public records · 84 Days on market

Built 2023 3,450 sqft lot

---

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 +14.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• 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

New construction 2 family house Build on 17x80 each floor is about 1360 square fool 3 large bedroom on each floor, 2 full bath on each floor, full basement with tiles and 1 full bath, separate electric and gas meter for each floor, private drive and nice backyard.

Key facts

• 3,450 sq ft lot
• Built 2023
• Listed 84 days

🏗️ New construction. The $999,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $925,344.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive. Per door: $72/mo.
• To cash-flow at today's rent, offer at most $946k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $828k (17.2% below list).
• Recommended offer: $828k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $8,276/mo this rent would consume 177% of the median local household income ($56k/yr) (locally 4702% 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 $6k of loan paydown is wiped out by about $28k 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 84 days — a 6% lower offer ($940k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $600k; list at $1000k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $827,600 (17.2% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 17% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $925,344
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2327 Mott Ave	0.09mi	6/4.0	2,340 (-15%)	1mo	$731,000	$312	66
2316 Beach Channel Dr	0.28mi	6/2.0	2,383 (-14%)	10mo	$550,000	$231	44
1051 Bay 32nd St	0.60mi	6/4.0	2,392 (-13%)	6mo	$845,000	$353	41
2324 Camp Rd	0.64mi	6/2.0	2,500 (-9%)	10mo	$885,000	$354	35
2810 Brookhaven Ave	0.58mi	6/2.0	2,352 (-15%)	7mo	$790,400	$336	31

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-140,700
• Equity at exit: $137,972

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-110,268
• Equity at exit: $80,007

Cash invested: $259,096 (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 11691

• Active inventory: 137
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $8,276 medium
• Mortgage (P&I): −$4,853
• Tax est. 1.5%: −$1,157 /mo · $13,880/yr
• Insurance: −$386
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,738
• Net cashflow: $143

Break-even live

Break-even rent $8,095

Max offer price $925,344

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$8,276
Total (2 units)			$8,276

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: $231,336
• Closing costs: $27,760
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Roger Ave Inwood, NY	5.0	3.0	2328	$4,800	$2.06	43d	1	0.64mi

Listing history 4 events

1. 2024-05-02
   status Pending
2. 2024-02-08
   listed $999,999 Active
3. 2017-06-29
   soldstatus $600,000
4. 2016-11-21
   soldstatus $285,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°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: $99,312
• − Mortgage interest: −$51,834
• − Property taxes: −$13,880
• − Insurance: −$4,627
• − Repairs & maintenance: −$7,945
• − Management: −$7,945
• − Depreciation: −$26,919
• Taxable loss: −$13,838
• Est. tax savings @ 24.0%: +$3,321
• After-tax cash flow: $5,039/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): 69,359
• Household income: $56,135
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 4702.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 40% Hispanic / Latino 26% White 24% Two or more races 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Hispanic 3% Italian 2% Romanian 2%
• Foreign-born: 35% · Canada, China, Jamaica
• Languages at home: 66% English-only · Spanish 21% French/Haitian/Cajun 2% Russian/Polish/Slavic 2%

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: ▼ -397.66%
• Current HPI: 281.4044
• Rent YoY: —
• 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

+250.9% since first listed

4 events — show timeline

• 2024-05-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-02-08 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2017-06-29 Sold (Public Records) $600,000 Public Records
• 2016-11-21 Sold (Public Records) $285,000 Public Records

Property tax history

-5.5%/yr

Latest (2025): $1,011 · -2.4% YoY. Source: county tax records.