83-40 Austin St Unit 7K · New York, NY 11415

$245,000

1 bd · 1.0 ba · 850 sqft · Condo · 169 Days on market

Built 1956

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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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare Opportunity ~ One Block From Lirr, Near E,F Trains. Spacious, Sunny,1 Bedroom Corner Unit. Beautiful Hard- Wood Floors. Large Lr/Dr, Contemporary Eat In Kitchen W Window. Lg Master W Dbl Wide Closet. Garage (Wait List), Storage, Laundry Room, Bike Room, Quiet Street, Restaurants, Shops, Forest Park.**Pet Friendly** All Utilities Included, Communal Outdoor Patio Space, Additional information: Appearance:Excllent,Interior Features:Lr/Dr

Key facts

• 2 laundry rooms
• Sun filled
• Eat in kitchen

Tags

• SUN FILLED
• EXTRA LARGE
• EAT IN KITCHEN
• MULTIPLE CLOSETS
• 2 LAUNDRY ROOMS
• GYM

Property features AI

Finance

• HOA & community: Association: Texas Owners Corp.

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity available; Natural gas available; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; 7 total stories; Entry level listed as 7
• Construction: Brick exterior; Living area based on plans
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Cooktop; Gas oven; Refrigerator
• Bedrooms: 3 total rooms (includes bedroom on first floor)
• Flooring: Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window cooling unit(s)
• Interior features: First-floor bedroom; Eat-in kitchen; Elevator access; Entrance foyer; Pets allowed (cats and dogs, size limits apply)
• Laundry & utility: No basement; Full basement (listed as Full under basement — no finished basement indicated)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 (+1.4%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 35% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 169 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $13k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 52% 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.02% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-30,595
• Equity at exit: $36,530

10-year hold

• IRR: -6.3%
• Equity multiple: 0.63×
• Total profit: $-25,595
• Equity at exit: $21,183

Cash invested: $68,600 (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 11415

• Rents YoY: 1.4%
• Active inventory: 133
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,488 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $206

Break-even live

Break-even rent $2,227

Max offer price $245,000

Occupancy floor 87%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	24d	1	0.02mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	0.24mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	24d	1	0.24mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	24d	1	0.25mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	0.25mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	14d	1	0.31mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$2,600	$2.89	24d	2	0.31mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	24d	1	0.34mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	24d	1	0.36mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	13d	1	0.36mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	12d	1	0.39mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	24d	1	0.39mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	24d	1	0.41mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	24d	1	0.42mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,750	$3.44	2d	1	0.42mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	5d	2	0.43mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	24d	1	0.52mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.56mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.56mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	24d	1	0.56mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	18d	1	0.56mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	5d	1	0.62mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	24d	1	0.63mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,990	$3.56	24d	1	0.70mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	20d	1	0.73mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	0.75mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	24d	1	0.79mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	2d	1	0.83mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	18d	1	0.85mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.89mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	24d	1	0.89mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	18d	1	0.90mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	20d	2	0.96mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.01mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	11d	1	1.04mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	17d	1	1.05mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	14d	1	1.05mi
123-08 95th Ave Unit 2 South Richmond Hill, NY	2.0	1.5	1000	$2,400	$2.40	24d	1	1.06mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	1.07mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	18d	1	1.08mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-18
   days on market $245,000 Active 169 DOM
2. 2026-06-17
   days on market $245,000 Active 168 DOM
3. 2026-06-15
   days on market $245,000 Active 166 DOM
4. 2026-06-13
   days on market $245,000 Active 164 DOM
5. 2026-06-10
   days on market $245,000 Active 160 DOM
6. 2026-06-08
   days on market $245,000 Active 159 DOM
7. 2026-06-04
   days on market $245,000 Active 155 DOM
8. 2026-06-03
   days on market $245,000 Active 154 DOM
9. 2026-06-01
   days on market $245,000 Active 152 DOM
10. 2026-05-31
    days on market $245,000 Active 151 DOM
11. 2026-03-16
    price $245,000
12. 2025-12-31
    listed $258,000 Active
13. 2017-09-27
    soldstatus $220,000 Closed 443-char remark

    Show marketing remark (443 chars)

    Rare Opportunity ~ One Block From Lirr, Near E,F Trains. Spacious, Sunny,1 Bedroom Corner Unit. Beautiful Hard- Wood Floors. Large Lr/Dr, Contemporary Eat In Kitchen W Window. Lg Master W Dbl Wide Closet. Garage (Wait List), Storage, Laundry Room, Bike Room, Quiet Street, Restaurants, Shops, Forest Park.**Pet Friendly** All Utilities Included, Communal Outdoor Patio Space, Additional information: Appearance:Excllent,Interior Features:Lr/Dr

14. 2017-06-16
    status Under Contract 443-char remark

    Show marketing remark (443 chars)

    Rare Opportunity ~ One Block From Lirr, Near E,F Trains. Spacious, Sunny,1 Bedroom Corner Unit. Beautiful Hard- Wood Floors. Large Lr/Dr, Contemporary Eat In Kitchen W Window. Lg Master W Dbl Wide Closet. Garage (Wait List), Storage, Laundry Room, Bike Room, Quiet Street, Restaurants, Shops, Forest Park.**Pet Friendly** All Utilities Included, Communal Outdoor Patio Space, Additional information: Appearance:Excllent,Interior Features:Lr/Dr

15. 2017-05-27
    price $229,900 443-char remark

    Show marketing remark (443 chars)

    Rare Opportunity ~ One Block From Lirr, Near E,F Trains. Spacious, Sunny,1 Bedroom Corner Unit. Beautiful Hard- Wood Floors. Large Lr/Dr, Contemporary Eat In Kitchen W Window. Lg Master W Dbl Wide Closet. Garage (Wait List), Storage, Laundry Room, Bike Room, Quiet Street, Restaurants, Shops, Forest Park.**Pet Friendly** All Utilities Included, Communal Outdoor Patio Space, Additional information: Appearance:Excllent,Interior Features:Lr/Dr

16. 2017-02-22
    listed $238,000 New 443-char remark

    Show marketing remark (443 chars)

    Rare Opportunity ~ One Block From Lirr, Near E,F Trains. Spacious, Sunny,1 Bedroom Corner Unit. Beautiful Hard- Wood Floors. Large Lr/Dr, Contemporary Eat In Kitchen W Window. Lg Master W Dbl Wide Closet. Garage (Wait List), Storage, Laundry Room, Bike Room, Quiet Street, Restaurants, Shops, Forest Park.**Pet Friendly** All Utilities Included, Communal Outdoor Patio Space, Additional information: Appearance:Excllent,Interior Features:Lr/Dr

17. 2013-08-05
    soldstatus $149,000 Closed 237-char remark

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

18. 2013-08-05
    soldstatus $149,000

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

19. 2013-07-30
    status Under Contract 237-char remark

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

20. 2013-02-13
    price $149,900 Price Change 237-char remark

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

21. 2012-10-23
    listed $157,000 New 237-char remark

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

22. 2012-10-23
    listed $149,900

    Show marketing remark (237 chars)

    Spacious Sunshine Filled Top Floor 1 Bedroom In The Heart Of Kew Gardens. Renovated Eik, Polished Hardwood Floors. Southern Exposure. Maintenance Includes All Utilities. Steps To Lirr, E And F Trains, Shops And Restaurants. Pet Friendly.

23. 2012-10-17
    historical
24. 2012-04-17
    listed $157,000

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% 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 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,850
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$2,022
• − Repairs & maintenance: −$2,388
• − Management: −$2,388
• − Depreciation: −$7,127
• Taxable loss: −$1,474
• Est. tax savings @ 24.0%: +$354
• After-tax cash flow: $2,820/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): 21,154
• Household income: $86,394
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1615.0

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: White 43% Hispanic / Latino 25% Asian 20% Two or more races 11% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Scotch-Irish 6% Romanian 5% Scandinavian 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 18% Other Indo-European 12% Russian/Polish/Slavic 10%

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: ▼ -155.23%
• Current HPI: 184.7643
• Rent YoY: ▲ 1.35%
• 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

+56.1% since first listed

14 events — show timeline

• 2026-03-16 Price Changed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-31 Listed $258,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-27 Sold (MLS) $220,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-05-27 Price Changed $229,900 OneKey® MLS as Distributed by MLS Grid
• 2017-02-22 Listed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-05 Sold (MLS) $149,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-05 Sold (MLS) $149,000 MLSLI
• 2013-07-30 Pending — MLSLI
• 2013-02-13 Price Changed $149,900 MLSLI
• 2012-10-23 Listed $157,000 MLSLI
• 2012-10-23 Listed $149,900 OneKey® MLS as Distributed by MLS Grid
• 2012-10-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-04-17 Listed $157,000 OneKey® MLS as Distributed by MLS Grid