61-20 Grand Central Pkwy Unit A608 · New York, NY 11375

$305,000

1 bd · 1.0 ba · 850 sqft · Condo · 452 Days on market

Built 1964

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Cash flow +0.7/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Private terrace
• 24-hour doorman
• Prime location

Tags

• PRIVATE TERRACE
• UPDATED HARDWOOD FLOORS
• LUXURY HIGH-RISE LIVING
• 24-HOUR DOORMAN
• ALL-INCLUSIVE MAINTENANCE
• PRIME LOCATION

Property features AI

Finance

• Other: Playground in the community
• HOA & community: Building amenities include basketball court, doorman, and elevators; Monthly additional fee of $58.42 for RE tax assessment

Exterior

• Parking: On-street parking
• Security: Doorman
• Utilities: Electricity connected; Natural gas connected; Water connected; Public sewer; Trash collection (public)
• Home design: Stock cooperative; Updated/remodeled
• Construction: Brick construction
• Exterior features: Balcony; Basketball court; Bicycle room

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Includes a first-floor bedroom
• Flooring: Hardwood
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: First-floor bedroom; First-floor full bathroom; Built-in features; Accessible approach with ramp; Library/Den
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (12.7% below list).
• Recommended offer: $266k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 1.2% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); Jhs 157 Stephen A Halsey (math 74% / reading 80%, grade A, #41 of 729 statewide, top 6%, 1,542 students, 55% 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 (+5.3%/yr); 618 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 30% of the median local income ($106k/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 $9k 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 452 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $266,227 (12.7% 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 452 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.87% ✗
• Cap rate: 1.18%
• Cash-on-cash: -18.25%
• DSCR: 0.19
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.3% rent growth · sell at horizon

5-year hold

• IRR: -47.1%
• Equity multiple: -0.46×
• Total profit: $-124,994
• Equity at exit: $45,476

10-year hold

• IRR: -55.1%
• Equity multiple: -1.16×
• Total profit: $-184,840
• Equity at exit: $26,371

Cash invested: $85,400 (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 11375

• Rents YoY: 5.3%
• Active inventory: 618
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA est. from 4 same-building comps: −$1,294
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-1,299

Break-even live

Break-even rent $4,306

Max offer price $117,092

Occupancy floor —

Sensitivity live

Price	-10% $-1,088	-5% $-1,193	+0% $-1,299	+5% $-1,404	+10% $-1,509
Rent	-10% $-1,509	-5% $-1,404	+0% $-1,299	+5% $-1,193	+10% $-1,088
Rate	-1.0pp $-1,145	-0.5pp $-1,221	base $-1,299	+0.5pp $-1,378	+1.0pp $-1,458

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61-20 Grand Central Pkwy Unit Bb706 Forest Hills, NY	2.0	1.0	970	$2,850	$2.94	20d	1	0.16mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	26d	1	0.35mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	26d	1	0.45mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	26d	1	0.53mi
11105 66th Ave Unit 2B Forest Hills, NY	1.0	1.0	850	$2,600	$3.06	17d	1	0.55mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.57mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	26d	2	0.60mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	26d	1	0.61mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	0.63mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	26d	1	0.64mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	16d	1	0.64mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	26d	1	0.67mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	6d	1	0.70mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	26d	1	0.71mi
9941 64th Ave Unit C16 Rego Park, NY	2.0	1.0	1100	$3,200	$2.91	1d	1	0.73mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$2,400	$2.46	20d	2	0.74mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	3d	1	0.74mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	26d	3	0.79mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	4d	3	0.79mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	0.81mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	6d	1	0.83mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	21d	1	0.88mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	0.89mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	3d	1	0.91mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	26d	1	0.92mi
9810 64th Ave Rego Park, NY	1.0–2.0	1.0–2.0	850	$2,450	$2.88	0d	2	0.92mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	19d	2	0.92mi
10240 67th Dr Unit 1C Forest Hills, NY	1.0	1.5	780	$2,500	$3.21	26d	1	0.94mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	6d	1	0.95mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	26d	1	0.95mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	6d	1	0.96mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	3d	1	0.96mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	14d	1	0.96mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	7d	1	0.96mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	20d	1	0.99mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	20d	1	1.00mi
13119 Fowler Ave Unit 7C Flushing, NY	2.0	2.0	810	$3,300	$4.07	20d	1	1.01mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	26d	1	1.02mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	7d	1	1.03mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	7d	1	1.04mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $305,000 Active 452 DOM
2. 2026-06-18
   days on market $305,000 Active 449 DOM
3. 2026-06-17
   days on market $305,000 Active 448 DOM
4. 2026-06-15
   days on market $305,000 Active 446 DOM
5. 2026-06-13
   days on market $305,000 Active 444 DOM
6. 2026-06-10
   days on market $305,000 Active 440 DOM
7. 2026-06-08
   days on market $305,000 Active 439 DOM
8. 2026-06-03
   days on market $305,000 Active 434 DOM
9. 2026-06-01
   days on market $305,000 Active 432 DOM
10. 2026-05-31
    days on market $305,000 Active 431 DOM
11. 2026-03-27
    status Active
12. 2026-03-24
    historical
13. 2025-03-23
    listed $305,000 Active
14. 2019-07-10
    soldstatus $286,000 Closed 401-char remark

    Show marketing remark (401 chars)

    Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

15. 2019-04-17
    status Under Contract 401-char remark

    Show marketing remark (401 chars)

    Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

16. 2019-02-13
    price $288,000 401-char remark

    Show marketing remark (401 chars)

    Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

17. 2018-10-16
    price $299,000 401-char remark

    Show marketing remark (401 chars)

    Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

18. 2018-10-09
    listed $318,000 New 401-char remark

    Show marketing remark (401 chars)

    Newly Renovated Very Modern Apartment, Large Living Room, Brand New Kitchen And Bath, Lots Of Closets. New Hardwood Floors, Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

19. 2017-11-22
    soldstatus $223,000 Closed 363-char remark

    Show marketing remark (363 chars)

    Very Bright And Sunny Apartment, Hardwood Floors, Lots Of Closets. Updated Bathroom. Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

20. 2017-08-22
    status Under Contract 363-char remark

    Show marketing remark (363 chars)

    Very Bright And Sunny Apartment, Hardwood Floors, Lots Of Closets. Updated Bathroom. Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

21. 2017-07-17
    listed $225,000 New 363-char remark

    Show marketing remark (363 chars)

    Very Bright And Sunny Apartment, Hardwood Floors, Lots Of Closets. Updated Bathroom. Large Balcony, The Building Offers A 24 Hour Doorman, Seasonal Swimming Pool. All Utilities Included In The Maintenance, Garage Available, Pets Friendly Building. Close To All. Must See., Additional information: ExterioFeatures:Tennis,Interior Features:Efficiency Kitchen,Lr/Dr

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,947
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,556
• − Management: −$2,556
• − HOA: −$15,528
• − Depreciation: −$8,873
• Taxable loss: −$20,750
• Est. tax savings @ 24.0%: +$4,980
• After-tax cash flow: $-10,603/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): 76,839
• Household income: $105,904
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 4101.0

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 0.67)
• Race & ethnicity: White 47% Asian 28% Hispanic / Latino 16% Two or more races 11% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 4% Italian 2%
• Foreign-born: 43% · China, Canada, Jamaica
• Languages at home: 46% English-only · Chinese 12% Spanish 12% Russian/Polish/Slavic 11%

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: ▼ -155.54%
• Current HPI: 224.4903
• Rent YoY: ▲ 5.30%
• 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

+35.6% since first listed

11 events — show timeline

• 2026-03-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-23 Listed $305,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-10 Sold (MLS) $286,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-13 Price Changed $288,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-16 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-09 Listed $318,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-22 Sold (MLS) $223,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-07-17 Listed $225,000 OneKey® MLS as Distributed by MLS Grid