141-05 Pershing Cres #210 · New York, NY 11432

$189,900

1 bd · 1.0 ba · 750 sqft · Condo · 243 Days on market

Built 1940

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Why this score? — see what drove the B- 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to The Griswald, a well-maintained pre-war cooperative that blends timeless charm with modern conveniences. This spacious one-bedroom, one-bathroom apartment is filled with classic details, including 9-foot ceilings, hardwood floors, and an elevated dining nook that adds an elegant touch. The northeast exposures provide an abundance of natural light, creating a bright and inviting atmosphere. The kitchen features well-maintained appliances, including a dishwasher, making meal prep and cleanup a breeze. Storage is never an issue with four full-sized closets throughout the unit. Building amenities include a full-time superintendent, card-operated common laundry facilities, and garage

Key facts

• Elevated dining nook
• Northeast exposures
• Hardwood floors

Tags

• HARDWOOD FLOORS
• ELEVATED DINING NOOK
• NORTHEAST EXPOSURES
• WELL-MAINTAINED APPLIANCES
• FOUR FULL-SIZED CLOSETS
• FULL-TIME SUPERINTENDENT

Property features AI

Exterior

• Parking: Attached covered underground parking; Parking fee: $125; Has garage
• Security: Security system; Video cameras
• Utilities: Con-Edison electric; Natural gas connected; Public sewer; Sewer connected; Public trash collection; Water available
• Home design: Stock cooperative; One level entry; 6-story building; Actual property condition
• Construction: Brick construction
• Exterior features: Brick construction; No waterfront

Interior

• Kitchen: Cooktop; Gas oven; Oven; Refrigerator
• Bedrooms: Second floor location
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning units
• Interior features: Eat-in kitchen; High ceilings; Double-pane windows; Finished basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Rents flat; 198 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 41% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.32% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.75% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.12×
• Total profit: $6,548
• Equity at exit: $28,315

10-year hold

• IRR: 10.6%
• Equity multiple: 1.74×
• Total profit: $39,204
• Equity at exit: $16,419

Cash invested: $53,172 (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 11432

• Rents YoY: 0.8%
• Active inventory: 198
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,513 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $673

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 68%

Sensitivity live

Price	-10% $804	-5% $738	+0% $673	+5% $607	+10% $541
Rent	-10% $474	-5% $573	+0% $673	+5% $772	+10% $871
Rate	-1.0pp $768	-0.5pp $721	base $673	+0.5pp $624	+1.0pp $573

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	22d	1	0.04mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	15d	1	0.06mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	25d	1	0.12mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	6d	1	0.15mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	20d	1	0.17mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	9d	1	0.29mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	25d	1	0.29mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	25d	1	0.29mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	20d	1	0.29mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	0.48mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.51mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	0.51mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	25d	1	0.52mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	18d	1	0.53mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	7d	1	0.54mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	20d	1	0.55mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	25d	1	0.60mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	3d	1	0.66mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	25d	1	0.67mi
148-37 88th Ave Queens, NY	2.0	2.0	900	$3,500	$3.89	25d	1	0.69mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	25d	1	0.75mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	25d	1	0.78mi
12401 Hillside Ave Richmond Hill, NY	2.0	1.0	800	$2,700	$3.38	0d	1	0.83mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	25d	1	0.86mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	25d	1	0.90mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	25d	1	0.92mi
15501 90th Ave Unit 3R Jamaica, NY	1.0	1.0	950	$2,100	$2.21	25d	1	0.92mi
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	20d	1	0.95mi
88-56 162nd St Apt 2D Jamaica, NY	2.0	1.0	1000	$3,000	$3.00	25d	1	0.99mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$2,600	$2.89	25d	2	0.99mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	15d	1	0.99mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	25d	1	0.99mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	25d	1	1.02mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	25d	1	1.03mi
14725 94th Ave Jamaica, NY	1.0	1.0	525	$2,825	$5.38	5d	3	1.03mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	14d	1	1.04mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	25d	1	1.04mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	25d	1	1.05mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	1.07mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	25d	1	1.07mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-21
   days on market $189,900 Active 243 DOM
2. 2026-06-18
   days on market $189,900 Active 240 DOM
3. 2026-06-17
   days on market $189,900 Active 239 DOM
4. 2026-06-15
   days on market $189,900 Active 237 DOM
5. 2026-06-13
   days on market $189,900 Active 235 DOM
6. 2026-06-10
   pricedays on market $189,900 Active 231 DOM
7. 2026-06-08
   days on market $199,900 Active 230 DOM
8. 2026-06-04
   days on market $199,900 Active 226 DOM
9. 2026-06-03
   days on market $199,900 Active 225 DOM
10. 2026-06-01
    days on market $199,900 Active 223 DOM
11. 2026-05-31
    days on market $199,900 Active 222 DOM
12. 2026-04-02
    status Active
13. 2026-04-01
    historical
14. 2026-04-01
    historical
15. 2026-01-02
    status Active
16. 2025-12-20
    status Active
17. 2025-09-24
    status Pending
18. 2025-08-28
    price $199,900
19. 2025-07-25
    listed $209,900 Active
20. 2025-07-01
    historical
21. 2025-05-30
    price $210,900
22. 2024-12-08
    listed $215,900 Active
23. 2024-09-09
    price $199,000
24. 2024-05-23
    price $210,000
25. 2024-02-23
    price $185,000

ⓘ 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 · 14 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: $30,153
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,412
• − Management: −$2,412
• − Depreciation: −$5,524
• Taxable income: $5,369
• Est. tax owed @ 24.0%: −$1,289
• After-tax cash flow: $6,784/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): 62,892
• Household income: $74,096
• Rent vs Own: 64.2% rent · 35.8% own
• Severe rent burden: 4385.0

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 0.73)
• Race & ethnicity: Asian 42% Hispanic / Latino 21% Black 17% White 12% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 57% · Canada, Jamaica, China
• Languages at home: 34% English-only · Other Indo-European 30% Spanish 19% Tagalog/Filipino 4%

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: ▼ -457.06%
• Current HPI: 282.1513
• Rent YoY: ▲ 0.75%
• 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

+8.1% since first listed

14 events — show timeline

• 2026-04-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-28 Price Changed $199,900 OneKey® MLS as Distributed by MLS Grid
• 2025-07-25 Listed $209,900 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-30 Price Changed $210,900 OneKey® MLS as Distributed by MLS Grid
• 2024-12-08 Listed $215,900 OneKey® MLS as Distributed by MLS Grid
• 2024-09-09 Price Changed $199,000 RLS at REBNY
• 2024-05-23 Price Changed $210,000 RLS at REBNY
• 2024-02-23 Price Changed $185,000 RLS at REBNY