92-03 De Sota Rd

New York, NY 11693

$775,000D

4 bd · 2.0 ba · 1,446 sqft · Built 1920 · MultiFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,899/mo
• Mortgage (P&I): −$4,064
• Tax + insurance: −$787
• HOA: −$0
• Vac / Maint / Mgmt: −$1,029
• Net cashflow: $-981/mo
• Annual: $-11,776/yr
• Cap rate: 4.88%
• Cash-on-cash: -5.06%
• DSCR: 0.77
• 1% rule: 0.63%
• Cash to close: $217,000

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $775k.
• At list price, monthly cash flow is $-981 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $602k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $490k (36.8% below list).
• It's been on market 58 days — a 3% lower offer ($752k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $490k (36.8% below list) — sets the bar for 1% rule.
• In year one you build about $83k of equity ($5k loan paydown + $78k appreciation (10.0% local appreciation)).
• 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.
• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 67 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $423k; list at $775k implies a 83% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$133k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; major wind risk, 77% 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.
• Cap rate 4.9% 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.

Questions for listing agent

• 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?
• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?