87-50 204 St Unit A68 · New York, NY 11423

$265,000

2 bd · 1.0 ba · 900 sqft · Condo · 131 Days on market

Built 1954

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• 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

, Additional information: Appearance:Excellent

Key facts

• Sizable kitchen
• Formal dining room
• Ample closet space

Tags

• FORMAL DINING ROOM
• ADDITIONAL CLOSET SPACE
• SPACIOUS LIVING ROOM
• SIZABLE KITCHEN
• SUN DRENCHED VIEWS
• AMPLE CLOSET SPACE

Property features AI

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Public sewer; Electricity available; Natural gas available; Public trash collection; Water available
• Home design: Stock cooperative
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Convection oven; Refrigerator
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Formal dining area; Entry level is 1

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: 119 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 131 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $195k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1954 — 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: 1.07% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• GRM: 7.8

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-16,372
• Equity at exit: $39,512

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $20,076
• Equity at exit: $22,912

Cash invested: $74,200 (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 11423

• Active inventory: 119
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,845 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $416

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 80%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	10d	1	0.23mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	0.25mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	6d	1	0.30mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.65mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.65mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	11d	1	0.67mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	24d	1	0.69mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	11d	1	0.97mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	24d	1	1.00mi
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	24d	1	1.08mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	24d	1	1.15mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.25mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	24d	1	1.35mi
177-30 Wexford Ter Apt 806 Jamaica, NY	2.0	1.0	1090	$3,400	$3.12	14d	1	1.41mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	13d	1	1.41mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	3d	1	1.41mi
177-30 Wexford Ter Unit 603 Jamaica, NY	2.0	1.0	800	$3,300	$4.12	24d	1	1.41mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	2d	1	1.41mi
177-30 Wexford Ter Unit 502 Jamaica, NY	2.0	1.0	1100	$3,270	$2.97	11d	1	1.41mi
177-30 Wexford Ter Unit 802 Jamaica, NY	2.0	1.0	900	$3,300	$3.67	2d	1	1.41mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	3d	1	1.42mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	13d	1	1.43mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	24d	1	1.45mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	10d	1	1.45mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	20d	1	1.48mi

HOA detail condo

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

Listing history 8 events

1. 2026-05-12
   status Pending
2. 2026-01-01
   listed $265,000 Active
3. 2025-02-10
   status Active
4. 2025-01-16
   status Pending
5. 2024-12-07
   listed $259,000 Active
6. 2018-07-24
   soldstatus $195,000 Closed 46-char remark

   Show marketing remark (46 chars)

   , Additional information: Appearance:Excellent

7. 2018-06-26
   status Under Contract 46-char remark

   Show marketing remark (46 chars)

   , Additional information: Appearance:Excellent

8. 2018-02-25
   listed $205,000 New 46-char remark

   Show marketing remark (46 chars)

   , Additional information: Appearance:Excellent

ⓘ 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 6/10 Major 6 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $34,145
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,732
• − Management: −$2,732
• − Depreciation: −$7,709
• Taxable income: $828
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $4,799/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
• City population: 7,731,280
• Population (ZIP): 29,105

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 0.76)
• Race & ethnicity: Black 34% Asian 31% Hispanic / Latino 15% White 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 2% Dominican 4%
• Common ancestry: Hispanic 5% Danish 1% Scotch-Irish 1%
• Foreign-born: 55% · Canada, China, Jamaica
• Languages at home: 57% English-only · Other Indo-European 14% Spanish 14% French/Haitian/Cajun 6%

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: ▼ -490.74%
• Current HPI: 273.0152
• Rent YoY: —
• Metro: —
• 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

+29.3% since first listed

8 events — show timeline

• 2026-05-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-01-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-12-07 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-24 Sold (MLS) $195,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-02-25 Listed $205,000 OneKey® MLS as Distributed by MLS Grid