86-05 60th Rd Unit 3B · New York, NY 11373

$279,000

1 bd · 1.0 ba · 850 sqft · Condo · 10 Days on market

Built 1964

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Appreciation +4.5/10.0
• Rent growth +4.3/5.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Location, Location, Location! Excellent investment opportunity in the heart of Elmhurst. This spacious 1-bedroom co-op is located on the 3rd floor. Investor-friendly building with immediate subletting permitted. The apartment is currently tenant-occupied with a lease in place through April, 2027, providing immediate and stable rental income. Building amenities include on-site laundry facilities, a live-in superintendent, and indoor parking (waitlist). Conveniently located near multiple subway lines, bus routes, shopping, dining, Queens Center Mall, and major highways, offering easy access throughout Queens and NYC. Maintenance includes heat, hot water, cooking gas, real estate taxes, and ex

Key facts

• Private balcony
• Garage
• Built 1964

Tags

• PRIVATE BALCONY
• ON SITE LAUNDRY FACILITIES
• LIVE IN SUPERINTENDENT
• INDOOR PARKING WAITLIST

Property features AI

Exterior

• Parking: Has garage; Carport: none; Parking features: waitlist
• Utilities: Con-Edison electric; Natural gas connected; Public water; Public sewer; Sewer connected; Trash collection (public); Phone available
• Home design: Townhouse; Stock cooperative; Four-story building; Entry on level 3
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Elevator
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/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 $255k (8.5% below list).
• Recommended offer: $255k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Rents rising fast (+7.2%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 43% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k 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.
• At projected returns (-1.0% appreciation + 7.2% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $227k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $255,354 (8.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.92% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.98% appreciation · 7.15% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.95×
• Total profit: $-3,954
• Equity at exit: $67,589

10-year hold

• IRR: 8.9%
• Equity multiple: 1.98×
• Total profit: $76,645
• Equity at exit: $71,179

Cash invested: $78,120 (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 11373

• Home prices YoY: -0.4%
• Rents YoY: 7.2%
• Active inventory: 266
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,554 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $89

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 92%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	24d	1	0.04mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.49mi
54-40 80th St Unit 1 Elmhurst, NY	2.0	2.0	956	$3,000	$3.14	24d	1	0.54mi
5440 80th St Elmhurst, NY	2.0	2.0	996	$3,000	$3.01	2d	1	0.54mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	10d	1	0.54mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	4d	1	0.62mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.65mi
63127 Fitchett St Rego Park, NY	1.0	1.0	900	$2,800	$3.11	1d	1	0.66mi
63-127 Fitchett St Unit 1FL Rego Park, NY	2.0	1.0	1100	$3,800	$3.45	1d	1	0.66mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.66mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	18d	1	0.69mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	4d	1	0.74mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.78mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	17d	2	0.79mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.79mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	2d	3	0.79mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	24d	3	0.79mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.82mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.82mi
66-01 Burns St Apt 3v Rego Park, NY	1.0	1.0	820	$2,300	$2.80	20d	1	0.88mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	24d	2	0.92mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	24d	1	0.92mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	4d	3	0.93mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	12d	1	0.95mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.95mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$2,400	$2.46	18d	2	0.97mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.99mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	15d	1	1.02mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	16d	1	1.03mi
67-19 Austin St Unit 4C Flushing, NY	2.0	1.0	800	$3,500	$4.38	14d	1	1.04mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	24d	1	1.05mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	7d	1	1.07mi
6725 Dartmouth St Unit 3L Forest Hills, NY	2.0	1.0	800	$2,700	$3.38	24d	1	1.08mi
6739 Clyde St Ph -H Forest Hills, NY	2.0	2.0	1100	$4,100	$3.73	24d	1	1.08mi
10010 67th Rd Unit 6L Forest Hills, NY	1.0	1.0	845	$2,700	$3.20	22d	1	1.08mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	24d	1	1.10mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	1.15mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	24d	2	1.15mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	1.17mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	18d	1	1.19mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $279,000 Active 10 DOM
2. 2026-06-17
   days on market $279,000 Active 9 DOM
3. 2026-06-16
   days on market $279,000 Active 8 DOM
4. 2026-06-15
   days on market $279,000 Active 7 DOM
5. 2026-06-13
   days on market $279,000 Active 5 DOM
6. 2026-06-08
   remarks 699-char remark
7. 2026-06-08
   listed $279,000 Active 1 DOM

ⓘ 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 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: $30,642
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$8,116
• Taxable loss: −$3,585
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $1,931/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): 98,403
• Household income: $71,480
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 7283.0

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 0.58)
• Race & ethnicity: Asian 48% Hispanic / Latino 43% Two or more races 8% White 5% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 66% · Canada, China, Jamaica
• Languages at home: 14% English-only · Spanish 40% Chinese 16% Other Indo-European 13%

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: ▼ -0.98%
• Current HPI: 244.1055
• Rent YoY: ▲ 7.15%
• 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

+87.2% since first listed

26 events — show timeline

• 2026-06-07 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-01 Price Changed $259,900 BNYMLS
• 2024-07-01 Price Changed $259,999 BNYMLS
• 2024-07-01 Price Changed $259,900 OneKey® MLS as Distributed by MLS Grid
• 2024-03-09 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-08 Sold (MLS) $227,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-08 Sold (MLS) $227,000 OneKey® MLS as Distributed by MLS Grid
• 2019-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-19 Listed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-07-30 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-09-25 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-07-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2016-06-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2016-02-06 Listed $210,000 OneKey® MLS as Distributed by MLS Grid
• 2013-11-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-08-14 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-05-09 Listed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2013-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-01-13 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2012-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-04-09 Listed $149,000 OneKey® MLS as Distributed by MLS Grid