6074 54th Pl · New York, NY 11378

$800,000

4 bd · 2.0 ba · 1,550 sqft · MultiFamily public records · 38 Days on market

Built 1920 2,500 sqft lot Est $870k · 8% 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).

• Cash flow +14.0/30.0
• ARV discount +11.1/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• 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: 2 units. confirmed

Listing remarks

2 family attached frame home offering excellent potential for both end-users and investors. The first floor includes 2 bedrooms, a living room, dining room, kitchen, full bathroom, and access to the backyard. The second floor features 2 bedrooms plus a small office/nursery, an eat-in kitchen, living room, and full bathroom. A full basement provides substantial storage and room for future customization. Conveniently located near the Q54 and Q39 bus lines and within walking distance to the M train at Metropolitan Avenue, this property offers strong long-term value and versatility.

Key facts

• Attached frame home
• Full basement
• Conveniently located

Tags

• ATTACHED FRAME HOME
• ACCESS TO THE BACKYARD
• FULL BASEMENT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity available; Natural gas available; Trash collection (public); See remarks for additional utilities
• Home design: Townhouse-style duplex
• Construction: Frame and vinyl siding construction
• Exterior features: Frame construction; Vinyl siding; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two 2-bedroom units
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Other heating
• Interior features: Eat-in kitchen; Formal dining; Other interior features; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive. Per door: $54/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $606k (24.3% below list).
• Recommended offer: $606k (24.3% 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.
• 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: Rents rising fast (+11.9%/yr); 134 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,057/mo this rent would consume 85% 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 $6k of loan paydown is wiped out by about $24k 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 38 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 39% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $605,700 (24.3% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 24% 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. Built in 1920 — 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: 0.76% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $869,550
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62-48 60 Ave	0.59mi	3/2.0 (-1)	1,574 (+2%)	12mo	$955,000	$607	54
6127 62nd St	0.59mi	5/2.0 (+1)	1,720 (+11%)	5mo	$965,000	$561	44
62-47 64th St	0.72mi	3/2.0 (-1)	1,720 (+11%)	7mo	$850,000	$494	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.59×
• Total profit: $-91,188
• Equity at exit: $119,283

10-year hold

• IRR: 3.8%
• Equity multiple: 1.33×
• Total profit: $73,374
• Equity at exit: $69,169

Cash invested: $224,000 (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 11378

• Home prices YoY: -21.9%
• Rents YoY: 11.9%
• Active inventory: 134
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $6,057 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$149 /mo · $1,783/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,272
• Net cashflow: $108

Break-even live

Break-even rent $5,920

Max offer price $800,000

Occupancy floor 93%

Sensitivity live

Price	-10% $561	-5% $334	+0% $108	+5% $-119	+10% $-345
Rent	-10% $-371	-5% $-131	+0% $108	+5% $347	+10% $586
Rate	-1.0pp $511	-0.5pp $311	base $108	+0.5pp $-99	+1.0pp $-310

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$6,058
Total (2 units)			$6,057

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62-86 60th Pl Unit 3 Flushing, NY	4.0	2.0	1060	$4,899	$4.62	4d	1	0.44mi
1869 Madison St Ridgewood, NY	5.0	2.0	640	$1,120	$1.75	7d	1	0.79mi
56-54 Myrtle Ave Flushing, NY	4.0	2.0	665	$1,220	$1.83	22d	1	1.02mi
56-52 Myrtle Ave Ridgewood, NY	4.0	2.0	665	$1,310	$1.97	7d	1	1.02mi
1136 Willoughby Ave Brooklyn, NY	5.0	2.0	645	$1,280	$1.98	7d	1	1.12mi
358 Irving Ave Brooklyn, NY	5.0	4.0	844	$1,500	$1.78	22d	1	1.13mi
6071 70th St Maspeth, NY	3.0	1.5	1152	$4,500	$3.91	12d	1	1.31mi
987 Willoughby Ave Brooklyn, NY	5.0	1.5	650	$1,380	$2.12	22d	1	1.44mi
60-08 78th Ave Unit 2 Glendale, NY	3.0	1.0	2200	$3,099	$1.41	6d	1	1.47mi

Listing history 14 events

1. 2026-06-18
   status $800,000 Pending 38 DOM
2. 2026-06-18
   days on market $800,000 Active 38 DOM
3. 2026-06-17
   days on market $800,000 Active 37 DOM
4. 2026-06-16
   days on market $800,000 Active 36 DOM
5. 2026-06-15
   days on market $800,000 Active 35 DOM
6. 2026-06-13
   days on market $800,000 Active 33 DOM
7. 2026-06-10
   days on market $800,000 Active 29 DOM
8. 2026-06-08
   days on market $800,000 Active 28 DOM
9. 2026-06-08
   days on market $800,000 Active 27 DOM
10. 2026-06-04
    days on market $800,000 Active 24 DOM
11. 2026-06-03
    days on market $800,000 Active 23 DOM
12. 2026-06-01
    days on market $800,000 Active 21 DOM
13. 2026-05-31
    days on market $800,000 Active 20 DOM
14. 2026-05-09
    listed $800,000 Active

ⓘ 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: $1,783 · $149/mo
• Projected year-2 tax: $7,651 · $638/mo
• Expected delta: +$5,869/yr (+$489/mo · 329.2%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% 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: $72,684
• − Mortgage interest: −$44,812
• − Property taxes: −$1,783
• − Insurance: −$4,000
• − Repairs & maintenance: −$5,815
• − Management: −$5,815
• − Depreciation: −$23,273
• Taxable loss: −$12,813
• Est. tax savings @ 24.0%: +$3,075
• After-tax cash flow: $4,369/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

1 event — show timeline

• 2026-05-09 Listed $800,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $1,783 · +3.0% YoY. Source: county tax records.