2120 202 St Unit 1-189 · New York, NY 11360

$385,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 50 Days on market

Built 1950

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Why this score? — see what drove the D 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 +8.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks

Welcome to a beautiful new availability at Clearview Gardens. Move in ready unit has an open and expansive layout. Sleek hardwood flooring all throughout, large east facing windows in the living room and kitchen animate the entire open living room , dining and kitchen area. There is an in unit washer and dryer as well as dishwasher for your convenience. Quaint Bayside location with serenity and proximity to local shops , transportation and expressways. The two bedrooms are adequate size with additional storage and well lit as well. This is a first floor apartment, the maintenance is 1208 per month with all utilities included.

Key facts

• Garage
• Built 1950
• Listed 49 days

Property features AI

Exterior

• Parking: Assigned parking; Common parking; Garage (1 space); 1 total parking space
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Convection oven; Dishwasher; Exhaust fan
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; 4 total rooms; No basement; Pets allowed (contact listing)
• Laundry & utility: In-unit laundry; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $385k.

Deal economics

• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (23.0% below list).
• Recommended offer: $296k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: 219 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 36% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($3k loan paydown + $13k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $296,377 (23.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.29×
• Total profit: $31,403
• Equity at exit: $178,766

10-year hold

• IRR: 8.0%
• Equity multiple: 2.24×
• Total profit: $133,892
• Equity at exit: $279,977

Cash invested: $107,800 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,964 high
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $-319

Break-even live

Break-even rent $3,368

Max offer price $338,801

Occupancy floor —

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	24d	1	0.49mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	18d	1	0.51mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	18d	1	0.52mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	24d	1	0.55mi
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	11d	1	0.58mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	24d	1	0.61mi
15-47 209th St #2 Flushing, NY	3.0	2.0	1250	$3,800	$3.04	24d	1	0.66mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.75mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	24d	1	0.76mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	0.78mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	21d	1	0.79mi
1816 Bell Blvd Bayside, NY	1.0	1.0	1000	$2,500	$2.50	24d	1	0.85mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.88mi
14-21 Bell Blvd Unit 2 Flushing, NY	3.0	2.0	1250	$3,600	$2.88	15d	1	0.91mi
15167 27th Ave Flushing, NY	3.0	1.5	1146	$3,800	$3.32	21d	1	1.02mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.04mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	18d	1	1.06mi
15115 25th Ave Whitestone, NY	3.0	2.0	1160	$4,500	$3.88	18d	1	1.06mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	18d	1	1.11mi
16710 Crocheron Ave Unit 3L Flushing, NY	1.0	1.0	850	$2,350	$2.76	18d	1	1.12mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	7d	2	1.12mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	24d	1	1.13mi
15019 26th Ave Flushing, NY	2.0	1.0	850	$2,800	$3.29	24d	1	1.19mi
4032 191st St Flushing, NY	3.0	1.0	1500	$2,700	$1.80	24d	1	1.24mi
208-12 39th Ave Bayside, NY	3.0	1.0	950	$3,150	$3.32	7d	1	1.26mi
1001 154th St Whitestone, NY	2.0	1.0	900	$3,300	$3.67	24d	1	1.29mi
149-14 21st Ave Unit 1 Flushing, NY	3.0	2.5	1100	$4,000	$3.64	24d	1	1.30mi
165-02 Sanford Ave #204 Flushing, NY	2.0	2.0	800	$3,100	$3.88	24d	1	1.36mi
207-07 42nd Ave Unit 2 Flushing, NY	2.0	2.0	1395	$3,900	$2.80	2d	1	1.37mi
42-47 194th St Unit 1FL Queens, NY	2.0	1.0	820	$2,800	$3.41	24d	1	1.38mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	24d	1	1.40mi
4334 192nd St Unit 2 Queens, NY	2.0	1.0	900	$2,650	$2.94	2d	1	1.46mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	1d	1	1.47mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	2d	2	1.47mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	24d	1	1.48mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	2d	1	1.48mi
147-17 15th Ave Unit 1FL Whitestone, NY	3.0	1.0	798	$3,500	$4.39	24d	1	1.49mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.50mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $385,000 Active 50 DOM
2. 2026-06-17
   days on market $385,000 Active 49 DOM
3. 2026-06-16
   days on market $385,000 Active 48 DOM
4. 2026-06-15
   days on market $385,000 Active 47 DOM
5. 2026-06-13
   days on market $385,000 Active 45 DOM
6. 2026-06-10
   days on market $385,000 Active 41 DOM
7. 2026-06-08
   days on market $385,000 Active 40 DOM
8. 2026-06-08
   days on market $385,000 Active 39 DOM
9. 2026-06-04
   days on market $385,000 Active 36 DOM
10. 2026-06-03
    days on market $385,000 Active 35 DOM
11. 2026-06-01
    days on market $385,000 Active 33 DOM
12. 2026-05-31
    days on market $385,000 Active 32 DOM
13. 2026-04-29
    listed $385,000 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 14 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: $35,565
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,845
• − Management: −$2,845
• − Depreciation: −$11,200
• Taxable loss: −$10,591
• Est. tax savings @ 24.0%: +$2,542
• After-tax cash flow: $-1,289/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% 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: ▲ 3.26%
• Current HPI: 204.1422
• 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

1 event — show timeline

• 2026-04-29 Listed $385,000 OneKey® MLS as Distributed by MLS Grid