360 Beach 59th St Unit A Dock · New York, NY 11692

$215,000

4 bd · 1.0 ba · 1,600 sqft · SingleFamily · 453 Days on market

Built 1980 ↓ 28% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step aboard "Ziggy Stardust, " a beautifully crafted and truly unique houseboat that blends artistry, comfort, and breathtaking views. Thoughtfully designed with love and creativity, this one-of-a-kind masterpiece offers panoramic vistas of Marina 59 in Rockaway Beach, making it the perfect retreat for surfers, fishing enthusiasts, and sunset lovers. With four spacious bedrooms, a full bath, and a fully equipped kitchen, this home provides modern comforts, including a bathroom, an outdoor shower for rinsing off after a day by the water, and an expansive upper deck, the perfect spot to enjoy unbeatable bay views and stunning sunsets. Thoughtfully designed with ample storage and an

Key facts

• Expansive upper deck
• Unique houseboat
• Panoramic vistas

Tags

• UNIQUE HOUSEBOAT
• PANORAMIC VISTAS
• OUTDOOR SHOWER
• EXPANSIVE UPPER DECK
• ACCESS TO THE BEACH

Property features AI

Finance

• HOA & community: Monthly additional fee of $2,100 for slip fee

Exterior

• Parking: Space for 2 vehicles (no carport)
• Utilities: Sewer: other; Public trash collection
• Home design: Single family residence
• Construction: Other foundation details; Building area about 2,000 total
• Exterior features: Waterfront property; Other construction materials

Interior

• Kitchen: Cooktop; Dishwasher; Oven; Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Other heating
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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: 80 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $3,906/mo this rent would consume 94% of the median local household income ($50k/yr) (locally 1734% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 453 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $85k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 453 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.82% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.89%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $684,800
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
627 Beach 65th St	0.39mi	3/2.0 (-1)	1,530 (-4%)	1mo	$577,000	$377	65
60-08 Beach Front Rd Unit 90A	0.40mi	3/2.0 (-1)	1,500 (-6%)	7mo	$749,000	$499	56
440 Beach 46th St	0.63mi	4/2.0	1,572 (-2%)	11mo	$575,000	$366	55
439 Beach 69th St	0.51mi	3/2.5 (-1)	1,530 (-4%)	6mo	$600,000	$392	52
64-07 Thursby Ave	0.26mi	3/2.0 (-1)	1,402 (-12%)	16mo	$600,000	$428	45
516 Beach 72nd St	0.61mi	4/2.0	1,400 (-12%)	10mo	$625,000	$446	38

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 4.19×
• Total profit: $192,150
• Equity at exit: $193,689

10-year hold

• IRR: 36.2%
• Equity multiple: 9.43×
• Total profit: $507,717
• Equity at exit: $417,698

Cash invested: $60,200 (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 11692

• Home prices YoY: 14.4%
• Active inventory: 80
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,906 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$820
• Net cashflow: $1,173

Break-even live

Break-even rent $2,421

Max offer price $215,000

Occupancy floor 65%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6261 De Costa Ave Arverne, NY	3.0	1.0	1117	$3,250	$2.91	4d	1	0.31mi
6935 Hessler Ave Arverne, NY	3.0	1.5	1596	$3,300	$2.07	24d	1	0.57mi
325 Beach 46th St Far Rockaway, NY	3.0	1.5	2250	$3,100	$1.38	24d	1	0.61mi
72-18 Elizabeth Ave Unit 2 Far Rockaway, NY	3.0	2.0	1125	$3,650	$3.24	24d	1	0.67mi
75-18 Aquatic Dr Unit B Arverne, NY	3.0	2.5	2034	$3,500	$1.72	24d	1	0.86mi

Listing history 16 events

1. 2026-06-18
   days on market $215,000 Active 453 DOM
2. 2026-06-17
   days on market $215,000 Active 452 DOM
3. 2026-06-15
   days on market $215,000 Active 450 DOM
4. 2026-06-13
   days on market $215,000 Active 448 DOM
5. 2026-06-10
   days on market $215,000 Active 444 DOM
6. 2026-06-08
   days on market $215,000 Active 443 DOM
7. 2026-06-03
   days on market $215,000 Active 438 DOM
8. 2026-06-01
   days on market $215,000 Active 436 DOM
9. 2026-05-31
   days on market $215,000 Active 435 DOM
10. 2026-03-26
    price $215,000
11. 2026-03-26
    status Active
12. 2026-03-25
    historical
13. 2025-09-08
    price $225,000
14. 2025-06-05
    price $300,000
15. 2025-04-17
    price $320,000
16. 2025-03-21
    listed $300,000 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,872
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$6,194
• − Repairs & maintenance: −$3,750
• − Management: −$3,750
• − Depreciation: −$6,255
• Taxable income: $11,656
• Est. tax owed @ 24.0%: −$2,797
• After-tax cash flow: $11,283/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): 22,734
• Household income: $49,720
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1734.0

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 0.64)
• Race & ethnicity: Black 53% Hispanic / Latino 24% Two or more races 15% White 13% Asian 6%
• Hispanic origin (detail): Puerto Rican 10% Dominican 5%
• Common ancestry: Romanian 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 3%

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: ▲ 44.49%
• Current HPI: 354.2007
• 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

-28.3% since first listed

7 events — show timeline

• 2026-03-26 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-08 Price Changed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Price Changed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $320,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-21 Listed $300,000 OneKey® MLS as Distributed by MLS Grid