87-50 204 St Unit B46 · New York, NY 11423

$270,000

2 bd · 1.0 ba · 900 sqft · Condo · 32 Days on market

Built 1954 Good condition

---

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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Hilltop Village, where this beautifully updated coop offering comfort and style throughout. This inviting coop features a modern kitchen with stainless steel appliances, elegant marble tile flooring, and gleaming hardwood floors throughout the living space. Enjoy the spa-like bathroom designed for relaxation, along with two oversized bedrooms offering generous closet space. Conveniently located near transportation, schools, and parks, this coop combines affordability and convenience. This unit will not last.

Key facts

• Marble tile flooring
• Spa-like bathroom
• Modern kitchen

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• MARBLE TILE FLOORING
• HARDWOOD FLOORS
• SPA-LIKE BATHROOM
• GENEROUS CLOSET SPACE

Property features AI

Exterior

• Parking: No carport; Parking: waitlist
• Utilities: Public sewer; Electricity available; Sewer available; Water available
• Home design: Stock cooperative; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: 5 rooms total (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: Other interior features
• Laundry & utility: No pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $262k (3.0% 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: 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 32 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 3 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: 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 $261,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 7.9

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-19,383
• Equity at exit: $40,258

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $14,620
• Equity at exit: $23,345

Cash invested: $75,600 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,845 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$338 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $382

Break-even live

Break-even rent $2,362

Max offer price $270,000

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: $67,500
• Closing costs: $8,100
• 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	11d	1	0.23mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	25d	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	25d	1	0.65mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	0.65mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	12d	1	0.67mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	25d	1	0.69mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	12d	1	0.97mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	25d	1	1.00mi
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	25d	1	1.08mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	25d	1	1.15mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	25d	1	1.25mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	25d	1	1.35mi
177-30 Wexford Ter Apt 806 Jamaica, NY	2.0	1.0	1090	$3,400	$3.12	15d	1	1.41mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	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	25d	1	1.41mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	3d	1	1.41mi
177-30 Wexford Ter Unit 502 Jamaica, NY	2.0	1.0	1100	$3,270	$2.97	12d	1	1.41mi
177-30 Wexford Ter Unit 802 Jamaica, NY	2.0	1.0	900	$3,300	$3.67	3d	1	1.41mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	4d	1	1.42mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	1.43mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	25d	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	21d	1	1.48mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $270,000 Active 32 DOM
2. 2026-06-17
   days on market $270,000 Active 31 DOM
3. 2026-06-16
   days on market $270,000 Active 30 DOM
4. 2026-06-15
   days on market $270,000 Active 29 DOM
5. 2026-06-13
   days on market $270,000 Active 27 DOM
6. 2026-06-10
   days on market $270,000 Active 23 DOM
7. 2026-06-08
   days on market $270,000 Active 22 DOM
8. 2026-06-08
   days on market $270,000 Active 21 DOM
9. 2026-06-04
   days on market $270,000 Active 18 DOM
10. 2026-06-03
    days on market $270,000 Active 17 DOM
11. 2026-06-02
    days on market $270,000 Active 16 DOM
12. 2026-06-01
    days on market $270,000 Active 15 DOM
13. 2026-05-31
    days on market $270,000 Active 14 DOM
14. 2026-05-17
    listed $270,000 Active
15. 2026-05-14
    historical
16. 2026-05-01
    price $230,000
17. 2026-01-07
    status Active
18. 2025-10-17
    status Pending
19. 2025-06-10
    listed $240,000 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 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: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,732
• − Management: −$2,732
• − Depreciation: −$7,855
• Taxable income: $303
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $4,511/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated coop offers a good condition with minor cosmetic improvements needed to maximize its value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replacing carpet with hardwood flooring in bedrooms — Improves living experience and resale value
• Both Upgrading kitchen countertops — Enhances functionality and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replacing carpet with hardwood flooring in bedrooms — Improves living experience and resale value ↑
• Both Upgrading kitchen countertops — Enhances functionality and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+12.5% since first listed

6 events — show timeline

• 2026-05-17 Listed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Listed $240,000 OneKey® MLS as Distributed by MLS Grid