253-12 60th Ave · New York, NY 11362

$274,000

1 bd · 1.0 ba · 650 sqft · Condo · 82 Days on market

Built 1953

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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 +13.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained co-op in Deepdale Gardens! This bright and inviting lower corner unit offers triple exposure, filling the home with an abundance of natural light throughout the day. Nestled in a quiet, tree-lined court, the location provides easy access to the playground and convenient outdoor parking. Inside, the spacious living room and L-shaped dining area feature laminate flooring and recessed lighting, creating a warm and modern living space perfect for both relaxing and entertaining. The sunny kitchen boasts two windows and is equipped with updated cabinetry, marble flooring, and stainless steel appliances including a refrigerator, dishwasher, and gas range/oven. For added convenience, the unit includes an in-home washer and dryer. The newly updated bathroom showcases modern ceramic tile, sleek glass shower doors, a stylish vanity, and updated lighting. The oversized bedroom offers generous space along with a double closet featuring mirrored doors. Additional highlights include two ceiling fans, two air conditioning units, window treatments, and an intercom system. Maintenance covers all utilities—including electric—along with taxes and parking stickers, adding exceptional value. There is no flip tax, and the property is located in District 26 schools. Perfectly situated close to shopping and transportation, this home combines comfort, convenience, and a prime location—an excellent opportunity you won’t want to miss!

Key facts

• Laminate flooring
• Triple exposure
• Tree lined court

Tags

• TRIPLE EXPOSURE
• TREE LINED COURT
• EASY ACCESS TO PLAYGROUND
• OUTDOOR PARKING
• LAMINATE FLOORING
• RECESSED LIGHTING

Property features AI

Finance

• HOA & community: Playground and sidewalks in the community

Exterior

• Parking: Two parking spaces total; Common parking; Off-street and on-street parking available; Parking lot; Private spaces; Shared driveway; Unassigned parking; Electric vehicle charging station(s)
• Security: Building security; Security lights; Smoke detectors
• Utilities: Con Edison electric service; Natural gas connected; Public water; Public sewer; Cable connected; Phone connected; Trash collection (public)
• Home design: Stock cooperative property type; Updated/remodeled condition; One entry level (first floor); Two-story building
• Construction: Brick construction; Concrete perimeter foundation
• Exterior features: Garden; Exterior lighting; Playground on site; Rain gutters; Front yard; Landscaped grounds; Near golf course, public transit, shops and schools; Paved areas

Interior

• Kitchen: Cooktop (gas); Gas oven; Gas range; Dishwasher; Refrigerator; Stainless steel appliances; Galley-style layout
• Bedrooms: One bedroom on the first floor
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Entrance foyer; Galley kitchen; High ceilings; High-speed internet; Recessed lighting; Washer/dryer hookup; Storm door(s); Blinds and drapes; Double-pane insulated windows (some new); Screens; Tilt-turn windows; Accessible bedroom and common areas; In-unit intercom
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer located in kitchen (washer/dryer hookup available)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $274k.

Deal economics

• At list price, monthly cash flow is $11 ($135/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 $241k (12.0% below list).
• Recommended offer: $241k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 162 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 82 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 3 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 $139k; list at $274k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $241,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1953 — 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. 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: 0.88% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-43,648
• Equity at exit: $40,854

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-36,939
• Equity at exit: $23,691

Cash invested: $76,720 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,411 high
• Mortgage (P&I): −$1,437
• Tax est. 1.5%: −$342 /mo · $4,110/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $11

Break-even live

Break-even rent $2,397

Max offer price $274,000

Occupancy floor 95%

Sensitivity live

Price	-10% $201	-5% $106	+0% $11	+5% $-83	+10% $-178
Rent	-10% $-179	-5% $-84	+0% $11	+5% $106	+10% $202
Rate	-1.0pp $149	-0.5pp $81	base $11	+0.5pp $-60	+1.0pp $-132

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260-51 73rd Ave Queens, NY	1.0	1.0	518	$2,200	$4.25	7d	1	0.69mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	26d	1	1.05mi
24120 Northern Blvd Unit 3K Little Neck, NY	—	1.0	500	$2,800	$5.60	17d	1	1.06mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	1.14mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.28mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $274,000 Active 82 DOM
2. 2026-06-18
   days on market $274,000 Active 79 DOM
3. 2026-06-17
   days on market $274,000 Active 78 DOM
4. 2026-06-15
   days on market $274,000 Active 76 DOM
5. 2026-06-13
   days on market $274,000 Active 74 DOM
6. 2026-06-10
   days on market $274,000 Active 70 DOM
7. 2026-06-08
   days on market $274,000 Active 69 DOM
8. 2026-06-08
   days on market $274,000 Active 68 DOM
9. 2026-06-04
   days on market $274,000 Active 65 DOM
10. 2026-06-03
    days on market $274,000 Active 64 DOM
11. 2026-06-01
    days on market $274,000 Active 62 DOM
12. 2026-05-31
    pricedays on market $274,000 Active 61 DOM
13. 2026-03-31
    listed $279,000 Active

    Show marketing remark (1493 chars)

    Welcome to this beautifully maintained co-op in Deepdale Gardens! This bright and inviting lower corner unit offers triple exposure, filling the home with an abundance of natural light throughout the day. Nestled in a quiet, tree-lined court, the location provides easy access to the playground and convenient outdoor parking. Inside, the spacious living room and L-shaped dining area feature laminate flooring and recessed lighting, creating a warm and modern living space perfect for both relaxing and entertaining. The sunny kitchen boasts two windows and is equipped with updated cabinetry, marble flooring, and stainless steel appliances including a refrigerator, dishwasher, and gas range/oven. For added convenience, the unit includes an in-home washer and dryer. The newly updated bathroom showcases modern ceramic tile, sleek glass shower doors, a stylish vanity, and updated lighting. The oversized bedroom offers generous space along with a double closet featuring mirrored doors. Additional highlights include two ceiling fans, two air conditioning units, window treatments, and an intercom system. Maintenance covers all utilities—including electric—along with taxes and parking stickers, adding exceptional value. There is no flip tax, and the property is located in District 26 schools. Perfectly situated close to shopping and transportation, this home combines comfort, convenience, and a prime location—an excellent opportunity you won’t want to miss!

14. 2026-03-31
    listed $279,000 Active 1493-char remark

    Show marketing remark (1493 chars)

    Welcome to this beautifully maintained co-op in Deepdale Gardens! This bright and inviting lower corner unit offers triple exposure, filling the home with an abundance of natural light throughout the day. Nestled in a quiet, tree-lined court, the location provides easy access to the playground and convenient outdoor parking. Inside, the spacious living room and L-shaped dining area feature laminate flooring and recessed lighting, creating a warm and modern living space perfect for both relaxing and entertaining. The sunny kitchen boasts two windows and is equipped with updated cabinetry, marble flooring, and stainless steel appliances including a refrigerator, dishwasher, and gas range/oven. For added convenience, the unit includes an in-home washer and dryer. The newly updated bathroom showcases modern ceramic tile, sleek glass shower doors, a stylish vanity, and updated lighting. The oversized bedroom offers generous space along with a double closet featuring mirrored doors. Additional highlights include two ceiling fans, two air conditioning units, window treatments, and an intercom system. Maintenance covers all utilities—including electric—along with taxes and parking stickers, adding exceptional value. There is no flip tax, and the property is located in District 26 schools. Perfectly situated close to shopping and transportation, this home combines comfort, convenience, and a prime location—an excellent opportunity you won’t want to miss!

15. 2012-08-11
    soldstatus $139,000 68-char remark

    Show marketing remark (68 chars)

    , Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

16. 2012-02-15
    listed $142,000 68-char remark

    Show marketing remark (68 chars)

    , Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,933
• − Mortgage interest: −$15,348
• − Property taxes: −$4,110
• − Insurance: −$1,370
• − Repairs & maintenance: −$2,315
• − Management: −$2,315
• − Depreciation: −$7,971
• Taxable loss: −$4,495
• Est. tax savings @ 24.0%: +$1,079
• After-tax cash flow: $1,214/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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 9%

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: ▼ -117.12%
• Current HPI: 259.773
• Rent YoY: —
• 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

+96.5% since first listed

4 events — show timeline

• 2026-03-31 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $279,000 RLS at REBNY
• 2012-08-11 Sold (MLS) $139,000 OneKey® MLS as Distributed by MLS Grid
• 2012-02-15 Listed $142,000 OneKey® MLS as Distributed by MLS Grid