196-58 69th Ave #1 · New York, NY 11365

$238,000

1 bd · 1.0 ba · 700 sqft · Condo · 60 Days on market

Built 1952 ↓ 8% 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a spacious 1-bedroom, 1-bathroom apartment located in a desirable neighborhood. Corner unit with additional windows. Hard wood floors throughout. The dining area features a window that brings in abundant natural sunlight. Conveniently located near Cunningham Park, supermarkets, restaurants, shopping, the QM8 express bus, AMC movie theater, schools, and more. Low monthly maintenance of $920.12 includes all utilities except electricity. Garage parking with an electric car charger is available for $140/month — no waitlist. Cats are welcome, but no dogs please. Renting allowed in one year. Minimum income for cash buyers: $75,000. Debt-to-income ratio must be 25% or lower. Move-in

Key facts

• Hard wood floors
• Move-in ready
• Dining area

Tags

• HARD WOOD FLOORS
• DINING AREA
• NATURAL SUNLIGHT
• GARAGE PARKING
• ELECTRIC CAR CHARGER
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $238k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/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 $237k (0.5% below list).
• Recommended offer: $231k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: Rents rising fast (+6.2%/yr); 133 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 35% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 60 days — a 3% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 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: flood insurance adds $66/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $230,860 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 0.99% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.69×
• Total profit: $-20,394
• Equity at exit: $35,487

10-year hold

• IRR: 5.4%
• Equity multiple: 1.46×
• Total profit: $30,542
• Equity at exit: $20,578

Cash invested: $66,640 (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 11365

• Rents YoY: 6.2%
• Active inventory: 133
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,367 high
• Mortgage (P&I): −$1,248
• Tax est. 1.5%: −$298 /mo · $3,570/yr
• Insurance: −$99
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $159

Break-even live

Break-even rent $2,166

Max offer price $238,000

Occupancy floor 88%

Sensitivity live

Price	-10% $323	-5% $241	+0% $159	+5% $77	+10% $-5
Rent	-10% $-28	-5% $65	+0% $159	+5% $253	+10% $346
Rate	-1.0pp $279	-0.5pp $220	base $159	+0.5pp $97	+1.0pp $35

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: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	26d	1	0.48mi
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	26d	1	0.49mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	26d	1	0.55mi
178-05 69th Ave Unit 2 Flushing, NY	2.0	1.0	750	$2,700	$3.60	26d	1	0.92mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	13d	1	1.25mi
196-42 44th Ave #2 Flushing, NY	1.0	1.0	600	$2,000	$3.33	1d	1	1.44mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	26d	1	1.46mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	26d	1	1.46mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	17d	1	1.46mi

HOA detail condo

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

Listing history 4 events

1. 2026-03-04
   status Pending
2. 2026-01-03
   listed $238,000 Active
3. 2025-08-21
   price $248,000
4. 2025-06-26
   listed $258,000 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,409
• − Mortgage interest: −$13,332
• − Property taxes: −$3,570
• − Insurance: −$1,988
• − Repairs & maintenance: −$2,273
• − Management: −$2,273
• − Depreciation: −$6,924
• Taxable loss: −$1,950
• Est. tax savings @ 24.0%: +$468
• After-tax cash flow: $2,376/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): 42,322
• Household income: $81,258
• Rent vs Own: 53.6% rent · 46.4% own
• Severe rent burden: 1876.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Asian 43% White 23% Hispanic / Latino 21% Two or more races 11% Black 11%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Scotch-Irish 4% Romanian 1% Slovak 1%
• Foreign-born: 46% · China, Canada, South Korea
• Languages at home: 41% English-only · Chinese 26% Spanish 13% 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: ▼ -298.48%
• Current HPI: 314.4015
• Rent YoY: ▲ 6.24%
• 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

-7.8% since first listed

4 events — show timeline

• 2026-03-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-03 Listed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-21 Price Changed $248,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Listed $258,000 OneKey® MLS as Distributed by MLS Grid