67-50 Thornton Pl Unit 4D · New York, NY 11375

$289,000

2 bd · 1.0 ba · 800 sqft · Condo · 122 Days on market

Built 1963

---

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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This wonderful Jr 4 room (convertible two-bedroom) one bath apartment is spacious and bright. It needs a whole new renovation but has a lot of potential. The apartment features with great light and open views, a very spacious living room, a large primary bedroom and a home office or 2nd bedroom, a nice-size entry foyer excellent closets, and an East-facing balcony perfect for your morning cup of coffee and the newspaper. Thornton Place Owner's Inc. is a well-run, well-maintained coop in the heart of Forest Hills, surrounded by private houses. Street parking is very easy. Maintenance includes heat, hot water and cooking gas. Thornton Place Owner's Inc. has a live-in superintendent, indoor pa

Key facts

• Gorgeous courtyard
• Indoor parking
• East-facing balcony

Tags

• SPACIOUS LIVING ROOM
• EAST-FACING BALCONY
• RENOVATED ENTRANCE & LOBBY
• INDOOR PARKING
• GORGEOUS COURTYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $289k).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+5.3%/yr); 612 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($106k/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 $9k 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 122 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 49% 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 $254,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.3% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-13,382
• Equity at exit: $43,091

10-year hold

• IRR: 7.9%
• Equity multiple: 1.66×
• Total profit: $53,295
• Equity at exit: $24,987

Cash invested: $80,920 (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 11375

• Rents YoY: 5.3%
• Active inventory: 612
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,049 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $411

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 82%

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6725 Dartmouth St Unit 3L Forest Hills, NY	2.0	1.0	800	$2,700	$3.38	25d	1	0.12mi
65-68 Ellwell Cres Unit 2 Flushing, NY	3.0	1.0	900	$3,800	$4.22	25d	1	0.15mi
6739 Clyde St Ph -H Forest Hills, NY	2.0	2.0	1100	$4,100	$3.73	25d	1	0.17mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	5d	3	0.23mi
66-01 Burns St Apt 3v Rego Park, NY	1.0	1.0	820	$2,300	$2.80	20d	1	0.29mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	17d	1	0.30mi
67-19 Austin St Unit 4C Flushing, NY	2.0	1.0	800	$3,500	$4.38	14d	1	0.30mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$3,300	$4.71	25d	2	0.36mi
10010 67th Rd Unit 6L Forest Hills, NY	1.0	1.0	845	$2,700	$3.20	22d	1	0.43mi
10460 Queens Blvd Forest Hills, NY	1.0–2.0	1.0	916	$4,695	$5.12	5d	2	0.46mi
63-127 Fitchett St Unit 1FL Rego Park, NY	2.0	1.0	1100	$3,800	$3.45	2d	1	0.47mi
63127 Fitchett St Rego Park, NY	1.0	1.0	900	$2,800	$3.11	2d	1	0.48mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	25d	1	0.50mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.55mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	25d	1	0.55mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	13d	1	0.56mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.56mi
10620 70th Ave Unit 6B Forest Hills, NY	1.0	1.0	765	$3,600	$4.71	25d	1	0.56mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.56mi
10240 67th Dr Unit 1C Forest Hills, NY	1.0	1.5	780	$2,500	$3.21	25d	1	0.59mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	19d	1	0.62mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	0.63mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	0.65mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	25d	1	0.65mi
6945 108th St Unit 3F Forest Hills, NY	2.0	1.0	900	$3,600	$4.00	6d	1	0.70mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.70mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.71mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	18d	2	0.71mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	19d	1	0.72mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	25d	1	0.72mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	19d	1	0.73mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	21d	2	0.74mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	0.75mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,900	$5.57	5d	2	0.77mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$3,200	$3.28	19d	2	0.81mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	25d	1	0.81mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	11d	1	0.81mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	5d	1	0.81mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.82mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	25d	1	0.83mi

HOA detail condo

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

Listing history 2 events

1. 2024-11-07
   status Pending
2. 2024-07-08
   listed $289,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% 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: $36,583
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,927
• − Management: −$2,927
• − Depreciation: −$8,407
• Taxable income: $354
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $4,849/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): 76,839
• Household income: $105,904
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 4101.0

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 0.67)
• Race & ethnicity: White 47% Asian 28% Hispanic / Latino 16% Two or more races 11% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 4% Italian 2%
• Foreign-born: 43% · China, Canada, Jamaica
• Languages at home: 46% English-only · Chinese 12% Spanish 12% Russian/Polish/Slavic 11%

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: ▼ -155.54%
• Current HPI: 224.4903
• Rent YoY: ▲ 5.30%
• 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

2 events — show timeline

• 2024-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-07-08 Listed $289,000 OneKey® MLS as Distributed by MLS Grid