88-10 34 Ave Unit 3K · New York, NY 11372

$299,000

1 bd · 1.0 ba · 841 sqft · SingleFamily · 34 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 +11.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Appreciation +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

This well-maintained 1-bedroom, 1-bath co-op features a functional layout with a generously sized bedroom and seamless flow between living spaces. The kitchen and bathroom have been updated, offering a move-in ready option with flexibility to customize over time. Situated in a well-kept building near local shops, restaurants, parks, and public transportation, this Queens residence presents a strong opportunity for both end-users and investors. Subleasing is permitted immediately, subject to building rules and board approval.

Key facts

• Well-kept building
• Close to restaurants
• Spacious bedroom

Tags

• SPACIOUS BEDROOM
• GOOD CONDITION KITCHEN
• GOOD CONDITION BATHROOM
• WELL-KEPT BUILDING
• CLOSE TO NEIGHBORHOOD SHOPS
• CLOSE TO RESTAURANTS

🏢 Co-op / cooperative unit. The $299,000 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 1-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (16.9% below list).
• Recommended offer: $249k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% 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 soft (-0.6%/yr); 304 active listings in the ZIP; 13 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 38% of the median local income ($79k/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 34 days — a 3% lower offer ($290k) 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,589 (16.9% 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 34 days. Have you received any prior offers? Is the seller open to a 17% 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. 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. 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?
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: 0.83% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $798,109
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25-48 89th St	0.56mi	2/2.0 (+1)	827 (-2%)	2mo	$785,000	$949	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.26×
• Total profit: $-62,225
• Equity at exit: $44,582

10-year hold

• IRR: -25.9%
• Equity multiple: -0.08×
• Total profit: $-90,590
• Equity at exit: $25,852

Cash invested: $83,720 (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 11372

• Home prices YoY: -1.5%
• Rents YoY: -0.6%
• Active inventory: 304
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,486 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-102

Break-even live

Break-even rent $2,616

Max offer price $284,173

Occupancy floor 99%

Sensitivity live

Price	-10% $104	-5% $1	+0% $-102	+5% $-206	+10% $-309
Rent	-10% $-299	-5% $-201	+0% $-102	+5% $-4	+10% $94
Rate	-1.0pp $48	-0.5pp $-26	base $-102	+0.5pp $-180	+1.0pp $-259

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8910 35th Ave Unit E1L Jackson Heights, NY	2.0	1.0	850	$3,050	$3.59	26d	1	0.14mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	26d	1	0.34mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	20d	1	0.41mi
40-24 Aske St Unit 1FL Flushing, NY	1.0	1.0	800	$2,800	$3.50	1d	1	0.50mi
31-40 98th St Unit 2 Flushing, NY	1.0	1.0	800	$2,100	$2.62	9d	1	0.57mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	17d	1	0.72mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	26d	1	0.76mi
25-61 99th St Unit 2nd Fl Flushing, NY	2.0	1.0	780	$3,200	$4.10	26d	1	0.77mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	20d	1	0.79mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	1d	1	0.88mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	26d	1	0.91mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	20d	1	0.98mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	12d	1	1.44mi

Listing history 2 events

1. 2026-03-26
   status Pending
2. 2026-02-20
   listed $299,000 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) · 24% 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,831
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$8,698
• Taxable loss: −$6,369
• Est. tax savings @ 24.0%: +$1,529
• After-tax cash flow: $299/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): 64,756
• Household income: $78,606
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4836.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 55% Asian 21% Two or more races 21% White 18% Black 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, China
• Languages at home: 24% English-only · Spanish 51% Other Indo-European 11% Russian/Polish/Slavic 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: ▼ -3.57%
• Current HPI: 239.6404
• Rent YoY: ▼ -0.59%
• 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

2 events — show timeline

• 2026-03-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Listed $299,000 OneKey® MLS as Distributed by MLS Grid