61-20 Grand Central Pkwy Unit C 306 · New York, NY 11375

$320,000

2 bd · 2.0 ba · 1,250 sqft · SingleFamily · 58 Days on market

Built 1962 Fair condition ↓ 12% since listing

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and sun-filled 2 bedroom, 2 bathroom corner coop apartment offering approx. 1,250 sf. of comfortable living. The open layout features a bright living room with oversized windows and defined dining area perfect for entertaining. The master bedroom include a private ensuite bathroom . The second bedroom easily fits a king-size bed and offers a full wall of custom closets. The modern kitchen is fully equipped with a gas stove, dishwasher, and refrigerator. Apartment is very bright and sunny, plenty of closet space. Enjoy great amenities, 24 hour doorman service, 24/7 renovated laundry room, All utilities are included in the monthly maintenance fee. Central air conditioning is included

Key facts

• Open layout
• Defined dining area
• Oversized windows

Tags

• CORNER COOP APARTMENT
• OPEN LAYOUT
• OVERSIZED WINDOWS
• DEFINED DINING AREA
• PRIVATE ENSUITE BATHROOM
• FULL WALL OF CUSTOM CLOSETS

Property features AI

Finance

• HOA & community: Association: Fairview Owners Corp; Additional assessment fee of $94 monthly

Exterior

• Parking: Garage (1 space); No carport
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; One story; Entry level: 3
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Includes one bedroom on the first floor
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Eat-in kitchen; Entrance foyer; Finished full basement (common area)
• Laundry & utility: See remarks for utilities

🏢 Co-op / cooperative unit. The $320,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $320k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 rising fast (+5.3%/yr); 617 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37% 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 $10k 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 58 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 27% 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 $310,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.03% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $828,750
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11044 63rd Dr	0.25mi	2/1.5	1,345 (+8%)	12mo	$875,000	$651	64
102-03 62 Dr	0.49mi	3/1.0 (+1)	1,280 (+2%)	3mo	$848,000	$663	61
102-07 63rd Ave	0.50mi	3/2.0 (+1)	1,248 (-0%)	19mo	$1,050,000	$841	56
57-29 Waldron St	0.35mi	3/1.5 (+1)	1,400 (+12%)	10mo	$875,000	$625	48
108-50 50th Ave	0.59mi	3/2.0 (+1)	1,354 (+8%)	13mo	$780,000	$576	43
99-64 65th Ave	0.64mi	3/2.5 (+1)	1,400 (+12%)	2mo	$1,250,000	$893	41

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

Projected returns pro-forma

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

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-23,322
• Equity at exit: $47,713

10-year hold

• IRR: 5.5%
• Equity multiple: 1.45×
• Total profit: $40,180
• Equity at exit: $27,668

Cash invested: $89,600 (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: 617
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,294 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $324

Break-even live

Break-even rent $2,883

Max offer price $320,000

Occupancy floor 85%

Sensitivity live

Price	-10% $545	-5% $435	+0% $324	+5% $214	+10% $103
Rent	-10% $64	-5% $194	+0% $324	+5% $454	+10% $584
Rate	-1.0pp $485	-0.5pp $406	base $324	+0.5pp $241	+1.0pp $157

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 39 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	0.02mi
61-20 Grand Central Pkwy Unit A 106 Forest Hills, NY	2.0	2.0	1300	$3,100	$2.38	20d	1	0.14mi
110-55 64th Rd Unit 25 Forest Hills, NY	2.0	2.0	1300	$3,400	$2.62	9d	1	0.32mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	26d	2	0.46mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	26d	1	0.47mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	16d	1	0.49mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	26d	1	0.51mi
9941 64th Ave Unit C16 Rego Park, NY	2.0	1.0	1100	$3,200	$2.91	0d	1	0.59mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	2d	1	0.60mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$3,200	$3.28	20d	2	0.60mi
10869 50th Ave Corona, NY	3.0	1.0	912	$3,300	$3.62	26d	1	0.61mi
4911 108th St Unit 4A Corona, NY	3.0	2.0	1027	$3,600	$3.51	18d	1	0.66mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,850	$3.45	26d	3	0.68mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,775	$3.36	4d	3	0.68mi
6336 99th St Unit 5E Rego Park, NY	2.0	2.5	1333	$4,600	$3.45	6d	1	0.68mi
10210 66th Rd Unit 17B Forest Hills, NY	2.0	1.0	1175	$3,350	$2.85	6d	1	0.70mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	26d	1	0.80mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	14d	1	0.82mi
97-12 65th Rd Apt 23D Rego Park, NY	2.0	2.0	1400	$6,750	$4.82	0d	1	0.89mi
13225 58th Ave Flushing, NY	3.0	3.0	1300	$3,500	$2.69	5d	1	0.95mi
6945 108th St Unit 3F Forest Hills, NY	2.0	1.0	900	$3,600	$4.00	7d	1	0.97mi
94-30 60th Ave Apt 1H Queens, NY	3.0	1.5	1200	$3,200	$2.67	26d	1	0.99mi
10460 Queens Blvd Forest Hills, NY	1.0–2.0	1.0	916	$4,695	$5.12	6d	2	1.04mi
6739 Clyde St Ph -H Forest Hills, NY	2.0	2.0	1100	$4,100	$3.73	26d	1	1.18mi
68-36 Burns St Unit B4 Flushing, NY	2.0	1.0	1250	$3,800	$3.04	26d	1	1.20mi
68-42 Dartmouth St Apt 1 Flushing, NY	1.0	1.0	1782	$2,100	$1.18	5d	1	1.30mi
14803 61st Rd Flushing, NY	3.0	2.0	1594	$3,600	$2.26	26d	1	1.33mi
133-38 Avery Ave Unit 3F-B Flushing, NY	2.0	2.0	884	$2,600	$2.94	25d	1	1.35mi
6525 Alderton St Rego Park, NY	3.0	2.5	1782	$4,500	$2.53	26d	1	1.35mi
60-24 Wetherole St Unit 3rd Fl Elmhurst, NY	3.0	2.0	1000	$3,400	$3.40	4d	1	1.36mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$4,500	$5.90	4d	3	1.36mi
6543 Alderton St Rego Park, NY	3.0	1.5	1782	$4,800	$2.69	26d	1	1.38mi
142-23 Booth Memorial Ave Unit 1 Flushing, NY	3.0	1.0	1064	$3,200	$3.01	6d	1	1.39mi
65-68 Ellwell Cres Unit 2 Flushing, NY	3.0	1.0	900	$3,800	$4.22	26d	1	1.42mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	20d	1	1.42mi
9209 43rd Ave Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	26d	1	1.44mi
63127 Fitchett St Rego Park, NY	1.0	1.0	900	$2,800	$3.11	3d	1	1.45mi
631-27 Fitchett St Unit 1 Flushing, NY	2.0	1.0	1100	$3,800	$3.45	0d	1	1.45mi
91-04 43rd Ave Unit 2ND Elmhurst, NY	3.0	1.0	1100	$3,600	$3.27	26d	1	1.47mi

Listing history 20 events

1. 2026-06-21
   days on market $320,000 Active 58 DOM
2. 2026-06-18
   days on market $320,000 Active 55 DOM
3. 2026-06-17
   days on market $320,000 Active 54 DOM
4. 2026-06-16
   days on market $320,000 Active 53 DOM
5. 2026-06-15
   days on market $320,000 Active 52 DOM
6. 2026-06-13
   days on market $320,000 Active 50 DOM
7. 2026-06-10
   days on market $320,000 Active 46 DOM
8. 2026-06-08
   days on market $320,000 Active 45 DOM
9. 2026-06-08
   days on market $320,000 Active 44 DOM
10. 2026-06-04
    days on market $320,000 Active 41 DOM
11. 2026-06-03
    days on market $320,000 Active 40 DOM
12. 2026-06-01
    days on market $320,000 Active 38 DOM
13. 2026-05-31
    days on market $320,000 Active 37 DOM
14. 2026-04-24
    listed $330,000 Active
15. 2026-04-18
    historical
16. 2026-01-08
    price $330,000
17. 2025-10-20
    listed $340,000 Active
18. 2025-06-29
    price $340,000
19. 2025-06-13
    price $356,000
20. 2025-05-02
    price $375,000

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 76% 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 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: $39,525
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$2,398
• − Repairs & maintenance: −$3,162
• − Management: −$3,162
• − Depreciation: −$9,309
• Taxable loss: −$1,231
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $4,185/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

The home is in fair condition with minor repairs and maintenance needed. Painting, floor refinishing, and window treatments can significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen countertops — Visible wear and tear on the countertops.
• Minor Bathroom tiles — Visible wear and tear on the bathroom tiles.
• Minor Exterior paint — Signs of fading on exterior siding.
• Minor Living room carpet — Visible wear and tear on the carpet.
• Minor Wall paint — Signs of fading on the wall paint.
• Minor Windows — Visible wear and tear on the windows.

Value-add opportunities

• Resale Painting — Fresh paint can significantly improve the home's curb appeal and interior aesthetics.
• Resale Floor refinishing — Refinishing worn carpets and flooring can enhance the home's overall appearance and value.
• Both Window treatments — New window treatments can improve both the home's curb appeal and interior aesthetics.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Visible wear and tear on the countertops.	Minor	$500–3,000
Bathroom tiles · Visible wear and tear on the bathroom tiles.	Minor	$500–3,000
Exterior paint · Signs of fading on exterior siding.	Minor	$500–3,000
Living room carpet · Visible wear and tear on the carpet.	Minor	$500–3,000
Wall paint · Signs of fading on the wall paint.	Minor	$500–3,000
Windows · Visible wear and tear on the windows.	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Resale Painting — Fresh paint can significantly improve the home's curb appeal and interior aesthetics. ↑
• Resale Floor refinishing — Refinishing worn carpets and flooring can enhance the home's overall appearance and value. ↑
• Both Window treatments — New window treatments can improve both the home's curb appeal and interior aesthetics. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-12.0% since first listed

7 events — show timeline

• 2026-04-24 Listed $330,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-08 Price Changed $330,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-20 Listed $340,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-29 Price Changed $340,000 RLS at REBNY
• 2025-06-13 Price Changed $356,000 RLS at REBNY
• 2025-05-02 Price Changed $375,000 RLS at REBNY