1815 215th St Unit 6C · New York, NY 11360

$279,000

1 bd · 1.0 ba · 645 sqft · Condo · 11 Days on market

Built 1970 ↓ 18% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.5/30.0
• DSCR +0.0/10.0

Listing remarks

Resort-Style Living at the Seville Towers at Waters Edge – Bayside Enjoy luxury living in this sun-drenched one-bedroom residence with breathtaking panoramic water views. The spacious living area features oversized windows and sliding glass doors leading to a private balcony—perfect for morning coffee or sunset views over the bay. This apartment offers a welcoming foyer entry hall, updated kitchen with newer appliances, parquet floors and an updated bathroom. The generously sized bedroom provides ample closet space. Full-service building with 24-hour doorman and security, state-of-the-art gym, seasonal heated pool, tennis, pickleball courts, party room and an on-site shopping ar

Key facts

• Pickleball courts
• Private balcony
• Seasonal heated pool

Tags

• PRIVATE BALCONY
• UPDATED KITCHEN
• STATE-OF-THE-ART GYM
• SEASONAL HEATED POOL
• TENNIS COURTS
• PICKLEBALL COURTS

Property features AI

Finance

• Other: Property condition listed as actual; Located near public transit, schools, and shops; cul-de-sac and landscaped lot features; Additional parcels associated with the property
• HOA & community: Monthly association dues; Association amenities include clubhouse, concierge, dog park, elevators, fitness center, gated entry, landscaping, lounge, grounds maintenance, receiving room, recreation facilities, snow removal, tennis courts, pool, playground, parking, and trash service; Association fees cover air conditioning, utilities, cable TV, electricity, gas, grounds care, heat, hot water, sewer, snow removal, trash, and water; Additional monthly fee for utilities

Exterior

• Parking: Has garage; Parking available on a waitlist; Parking fee applies
• Security: Building security; Concierge / Door person; Video cameras; Fire alarm; Fire escape; Fire sprinkler system; Smoke detectors
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Trash collection (private); Water connected
• Home design: Stock cooperative; 17-story building; Entry level 1; Brick construction
• Construction: Brick construction
• Exterior features: Balcony; Dog run; Garden; Mailbox; Playground; Tennis courts; Community pool (fenced, in-ground, outdoor, salt water)

Interior

• Kitchen: Cooktop; Dishwasher; Electric range / Oven / Range; Refrigerator; Stainless steel appliances
• Bedrooms: 3 total rooms (includes bedroom count within rooms total)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; High ceilings; Pantry; Storage; Oversized windows; Covered terrace; Pets allowed with size limit; Finished basement; Bicycle room; Outdoor space; Pool/Spa
• Laundry & utility: Common area laundry

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 $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (5.2% below list).
• Recommended offer: $264k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 1.6% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 222 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 32% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 48% of rent.
• 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 $264,404 (5.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.95% ✗
• Cap rate: 1.58%
• Cash-on-cash: -16.84%
• DSCR: 0.25
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.60×
• Total profit: $-31,552
• Equity at exit: $129,547

10-year hold

• IRR: -1.4%
• Equity multiple: 0.77×
• Total profit: $-18,030
• Equity at exit: $202,892

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 11360

• Home prices YoY: 1.6%
• Active inventory: 222
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,644 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA est. from 4 same-building comps: −$1,257
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $-1,096

Break-even live

Break-even rent $4,032

Max offer price $120,362

Occupancy floor —

Sensitivity live

Price	-10% $-904	-5% $-1,000	+0% $-1,096	+5% $-1,193	+10% $-1,289
Rent	-10% $-1,305	-5% $-1,201	+0% $-1,096	+5% $-992	+10% $-887
Rate	-1.0pp $-956	-0.5pp $-1,025	base $-1,096	+0.5pp $-1,169	+1.0pp $-1,242

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	25d	1	0.09mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	0d	5	0.12mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	25d	1	0.15mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	25d	1	0.20mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	25d	1	0.71mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	20d	1	1.04mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	6d	1	1.40mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-21
   days on market $279,000 Active 11 DOM
2. 2026-06-18
   days on market $279,000 Active 8 DOM
3. 2026-06-17
   days on market $279,000 Active 7 DOM
4. 2026-06-16
   days on market $279,000 Active 6 DOM
5. 2026-06-15
   days on market $279,000 Active 5 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $279,000 Active 3 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,728
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − HOA: −$15,084
• − Depreciation: −$8,116
• Taxable loss: −$17,757
• Est. tax savings @ 24.0%: +$4,262
• After-tax cash flow: $-8,894/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-17.7% since first listed

4 events — show timeline

• 2026-06-10 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $279,999 OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Listed $339,000 OneKey® MLS as Distributed by MLS Grid