21-68 35th St Unit 3-C · New York, NY 11105

$214,250

2 bd · 1.0 ba · 700 sqft · SingleFamily · 141 Days on market

Built 1923 $1541/mo HOA · 38% of rent ↓ 26% since listing

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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 +18.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SPONSOR UNIT Contractor Special! NO BOARD APPLICATION! ALL CASH! This unit offers 700 sq ft of whatever your heart desires! Tons of light with south east facing windows. All interior walls can be taken down. 3rd floor. This Condop allows unlimited subletting after 2 years & pets. laundry in the building & beautiful treelined garden. Just 1 block from the NQ in the heart of Astoria!

Key facts

• 1 block from the nq
• $1,541 HOA
• Built 1923

Tags

• SOUTH EAST FACING WINDOWS
• LAUNDRY IN THE BUILDING
• 1 BLOCK FROM THE NQ

Property features AI

Finance

• Other: Pets allowed in building
• HOA & community: Monthly association fee of $1,541

Exterior

• Home design: 5-story building; Entry on 3rd level
• Exterior features: Building garden; East and south exposures

Interior

• Kitchen: Kitchen with window
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Interior features: Kitchen window
• Laundry & utility: Building allows washer/dryer installation; Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $214k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $214k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 (+6.7%/yr); 112 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $4,097/mo this rent would consume 48% of the median local household income ($102k/yr) (locally 2291% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1923 — 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 $188,540 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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 1923 — 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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $940,100
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22-66 46th St	0.49mi	2/2.0	700 (0%)	17mo	$940,000	$1,343	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.66% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-4,387
• Equity at exit: $31,945

10-year hold

• IRR: 13.9%
• Equity multiple: 2.45×
• Total profit: $87,102
• Equity at exit: $18,524

Cash invested: $59,990 (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 11105

• Home prices YoY: -11.2%
• Rents YoY: 6.7%
• Active inventory: 112
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $4,097 medium
• Mortgage (P&I): −$1,124
• Tax est. 1.5%: −$268 /mo · $3,214/yr
• Insurance: −$89
• HOA: −$1,541
• Vacancy / Maint / Mgmt: −$860
• Net cashflow: $215

Break-even live

Break-even rent $3,825

Max offer price $214,250

Occupancy floor 90%

Sensitivity live

Price	-10% $363	-5% $289	+0% $215	+5% $141	+10% $67
Rent	-10% $-109	-5% $53	+0% $215	+5% $377	+10% $538
Rate	-1.0pp $323	-0.5pp $269	base $215	+0.5pp $159	+1.0pp $103

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: $53,562
• Closing costs: $6,428
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	4d	9	1.04mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	0d	23	1.49mi

HOA detail

• Monthly dues: $1,541 · $18,492/yr

Listing history 15 events

1. 2026-06-21
   days on market $214,250 Active 141 DOM
2. 2026-06-18
   days on market $214,250 Active 138 DOM
3. 2026-06-17
   days on market $214,250 Active 137 DOM
4. 2026-06-15
   days on market $214,250 Active 135 DOM
5. 2026-06-13
   days on market $214,250 Active 133 DOM
6. 2026-06-10
   days on market $214,250 Active 129 DOM
7. 2026-06-08
   days on market $214,250 Active 128 DOM
8. 2026-06-04
   days on market $214,250 Active 124 DOM
9. 2026-06-03
   days on market $214,250 Active 123 DOM
10. 2026-06-01
    days on market $214,250 Active 121 DOM
11. 2026-05-31
    days on market $214,250 Active 120 DOM
12. 2026-05-06
    price $214,250
13. 2026-03-18
    status Active
14. 2026-03-18
    price $216,250
15. 2025-02-18
    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 1/10 Low FEMA zone X (unshaded) · 0% 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,161
• − Mortgage interest: −$12,001
• − Property taxes: −$3,214
• − Insurance: −$1,071
• − Repairs & maintenance: −$3,933
• − Management: −$3,933
• − HOA: −$18,492
• − Depreciation: −$6,233
• Taxable income: $284
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,509/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): 37,936
• Household income: $102,012
• Rent vs Own: 74.5% rent · 25.5% own
• Severe rent burden: 2291.0

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 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 22% Two or more races 11% Asian 10% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 3% Italian 1% Scotch-Irish 1%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 53% English-only · Other Indo-European 17% Spanish 16% Arabic 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: ▼ -62.96%
• Current HPI: 501.1392
• Rent YoY: ▲ 6.66%
• 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

-25.9% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $214,250 RLS at REBNY
• 2026-03-18 Relisted — RLS at REBNY
• 2026-03-18 Price Changed $216,250 RLS at REBNY
• 2025-02-18 Listed $289,000 RLS at REBNY