144-22 78th Ave Unit 3K · New York, NY 11367

$238,000

1 bd · 1.0 ba · 750 sqft · Condo · 60 Days on market

Built 1949

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

Key facts

• Sublet allowed
• New flooring
• North/south exposure

Tags

• NEW FLOORING
• FRESHLY PAINTED WALLS
• TREE-LINED VIEWS
• NORTH/SOUTH EXPOSURE
• CONVENIENTLY LOCATED
• SUBLET ALLOWED

Property features AI

Finance

• HOA & community: Association: Kew Terrace

Exterior

• Parking: No carport; Parking: waitlist
• Utilities: Electric service by Con-Edison; Public sewer; Natural gas connected
• Home design: Stock cooperative; 3 stories total; Entry on 3rd level
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range
• Bedrooms: 3rd level entry
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window unit air conditioning; Oil heating; Other heating
• Interior features: Elevator; Other interior features

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 $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $238k).
• Recommended offer: $231k (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: 259 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 40% of the median local income ($75k/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.
• 5 sale attempts since 12y ago 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.
• Current owner paid $148k; list at $238k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 1949 — 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: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• 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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-17,484
• Equity at exit: $35,487

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $12,028
• 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 11367

• Active inventory: 259
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,500 high
• Mortgage (P&I): −$1,248
• Tax est. 1.5%: −$298 /mo · $3,570/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $330

Break-even live

Break-even rent $2,082

Max offer price $238,000

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

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.05mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	0.07mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.17mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	1d	1	0.40mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	24d	1	0.46mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	4d	1	0.48mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	13d	1	0.52mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	20d	1	0.54mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.57mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	18d	1	0.57mi
71-82 Parsons Blvd Unit 303 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	13d	1	0.62mi
71-82 Parsons Blvd Unit 702 Kew Gardens Hills, NY	1.0	1.0	1000	$2,900	$2.90	20d	1	0.62mi
71-82 Parsons Blvd Unit 516 Kew Gardens Hills, NY	2.0	1.5	900	$3,500	$3.89	2d	1	0.62mi
71-82 Parsons Blvd Unit 503 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	24d	1	0.62mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	24d	1	0.75mi
7157 161 St Apt 5B Flushing, NY	2.0	2.0	1100	$2,600	$2.36	24d	1	0.77mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	24d	1	0.78mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	0.79mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	24d	1	0.79mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	24d	1	0.83mi
7133 162nd St Unit 3F Fresh Meadows, NY	2.0	2.0	850	$2,700	$3.18	24d	1	0.83mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	24d	1	0.84mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.84mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.84mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	18d	1	0.84mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	16d	1	0.97mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	18d	1	0.97mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	24d	1	1.02mi
7629 170th St Fresh Meadows, NY	2.0	1.0	924	$2,800	$3.03	3d	1	1.03mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,990	$3.56	24d	1	1.10mi
148-37 88th Ave Queens, NY	2.0	2.0	900	$3,500	$3.89	24d	1	1.12mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	24d	1	1.15mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	1.19mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	18d	1	1.20mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	13d	1	1.22mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	24d	1	1.22mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	24d	1	1.28mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	11d	1	1.29mi
88-56 162nd St Apt 2D Jamaica, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	1.29mi
15501 90th Ave Unit 3R Jamaica, NY	1.0	1.0	950	$2,100	$2.21	24d	1	1.30mi

HOA detail condo

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

Listing history 11 events

1. 2026-05-16
   status Pending
2. 2026-03-16
   listed $238,000 Active
3. 2025-10-25
   historical
4. 2025-07-27
   listed $249,000 Active
5. 2015-03-03
   soldstatus $148,000 Closed 151-char remark

   Show marketing remark (151 chars)

   Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

6. 2015-03-03
   soldstatus $148,000

   Show marketing remark (151 chars)

   Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

7. 2014-10-20
   status Under Contract 151-char remark

   Show marketing remark (151 chars)

   Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

8. 2014-09-08
   listed $163,000 New 151-char remark

   Show marketing remark (151 chars)

   Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

9. 2014-09-08
   listed $163,000

   Show marketing remark (151 chars)

   Great Location!! Living Room, Kitchen, Bedroom, And Bathroom. Beautiful, Nice And Clean! Close To All! Transportation Q44, Q20A, Q20B Q46. Must See. ..

10. 2014-08-28
    historical
11. 2014-04-29
    listed $165,000

ⓘ 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 53% 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: $30,003
• − Mortgage interest: −$13,332
• − Property taxes: −$3,570
• − Insurance: −$1,190
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,924
• Taxable income: $187
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $3,920/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• 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

+44.2% since first listed

11 events — show timeline

• 2026-05-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Listed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-27 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-03 Sold (MLS) $148,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-03 Sold (MLS) $148,000 MLSLI
• 2014-10-20 Pending — MLSLI
• 2014-09-08 Listed $163,000 MLSLI
• 2014-09-08 Listed $163,000 OneKey® MLS as Distributed by MLS Grid
• 2014-08-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-04-29 Listed $165,000 OneKey® MLS as Distributed by MLS Grid