86-16 60th Ave Unit 6H · New York, NY 11373

$99,999

1 bd · 1.0 ba · 775 sqft · Condo · 36 Days on market

Built 1963

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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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.5/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Cash flow +3.0/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Welcome to Caroline Gardens — This top-Floor Co-op is situated in the Heart of Elmhurst, perched on the 6th and top floor of the well-established Caroline Gardens co-op, this bright 1-bedroom, 1-bathroom residence is a fantastic opportunity for first-time buyers or someone looking for a space that requires low maintenance. Enjoy elevated views, all-day natural light, generous closet space, and a quiet setting — all at an accessible price point. The building has been a cornerstone of the Elmhurst community since 1963, offering 96 units, on-site garage parking (a rare Queens perk!), and a welcoming atmosphere that newer buildings simply can’t replicate. The location is unbea

Key facts

• Natural light
• Top floor
• Elevated views

Tags

• TOP FLOOR
• ELEVATED VIEWS
• NATURAL LIGHT
• GENEROUS CLOSET SPACE
• ON SITE GARAGE PARKING
• UNBEATABLE LOCATION

Property features AI

Finance

• HOA & community: Community features: Other

Exterior

• Parking: Private garage; 1-car garage
• Utilities: Con-Edison electric; Public sewer; Cable available; Electricity available and connected; Natural gas available and connected; Phone available; Sewer available and connected; Trash collection (private); Water available and connected; See remarks for additional utility details
• Home design: Stock cooperative; Three or more levels
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Not waterfront; No additional parcels

Interior

• Kitchen: Gas oven; Gas range; Range; Oven; Refrigerator; Other kitchen appliances
• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Other heating; Wall/window air conditioning unit(s)
• Interior features: Other interior features; Six-story building; Entry on 1st level; Pets allowed with size limits
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

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 (+7.2%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 43% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $981 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 36 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 65% of rent.
• 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 $96,999 (3.0% 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 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.53% ✓
• Cap rate: 2.39%
• Cash-on-cash: -13.94%
• DSCR: 0.38
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.98% appreciation · 7.15% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.43×
• Total profit: $-16,093
• Equity at exit: $24,225

10-year hold

• IRR: 5.5%
• Equity multiple: 1.75×
• Total profit: $21,064
• Equity at exit: $25,512

Cash invested: $28,000 (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 11373

• Home prices YoY: -0.4%
• Rents YoY: 7.2%
• Active inventory: 266
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,534 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA est. from 1 same-building comp: −$1,636
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $-325

Break-even live

Break-even rent $2,946

Max offer price $52,944

Occupancy floor —

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	25d	1	0.03mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	11d	1	0.50mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	25d	1	0.51mi
5440 80th St Elmhurst, NY	2.0	2.0	996	$3,000	$3.01	2d	1	0.54mi
54-40 80th St Unit 1 Elmhurst, NY	2.0	2.0	956	$3,000	$3.14	25d	1	0.54mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	5d	1	0.60mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.64mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.65mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	19d	1	0.70mi
63127 Fitchett St Rego Park, NY	1.0	1.0	900	$2,800	$3.11	2d	1	0.71mi
63-127 Fitchett St Unit 1FL Rego Park, NY	2.0	1.0	1100	$3,800	$3.45	2d	1	0.71mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	5d	1	0.72mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	3d	3	0.77mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	25d	3	0.77mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.78mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	18d	2	0.79mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.80mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.83mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.84mi
66-01 Burns St Apt 3v Rego Park, NY	1.0	1.0	820	$2,300	$2.80	20d	1	0.91mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	25d	1	0.94mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	25d	2	0.95mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	15d	1	0.96mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.96mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	13d	1	0.96mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$2,400	$2.46	19d	2	0.96mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	5d	3	0.97mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	25d	1	0.97mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	25d	1	1.03mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	17d	1	1.06mi
67-19 Austin St Unit 4C Flushing, NY	2.0	1.0	800	$3,500	$4.38	14d	1	1.07mi
10010 67th Rd Unit 6L Forest Hills, NY	1.0	1.0	845	$2,700	$3.20	22d	1	1.11mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	25d	1	1.11mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	8d	1	1.12mi
6739 Clyde St Ph -H Forest Hills, NY	2.0	2.0	1100	$4,100	$3.73	25d	1	1.12mi
6725 Dartmouth St Unit 3L Forest Hills, NY	2.0	1.0	800	$2,700	$3.38	25d	1	1.12mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	25d	1	1.14mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	25d	2	1.15mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	1.17mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	19d	1	1.19mi

HOA detail condo

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

Listing history 30 events

1. 2026-06-18
   days on market $99,999 Active 36 DOM
2. 2026-06-17
   days on market $99,999 Active 35 DOM
3. 2026-06-16
   days on market $99,999 Active 34 DOM
4. 2026-06-15
   days on market $99,999 Active 33 DOM
5. 2026-06-13
   days on market $99,999 Active 31 DOM
6. 2026-06-10
   days on market $99,999 Active 27 DOM
7. 2026-06-08
   days on market $99,999 Active 26 DOM
8. 2026-06-08
   days on market $99,999 Active 25 DOM
9. 2026-06-04
   days on market $99,999 Active 22 DOM
10. 2026-06-03
    days on market $99,999 Active 21 DOM
11. 2026-06-02
    days on market $99,999 Active 20 DOM
12. 2026-06-01
    days on market $99,999 Active 19 DOM
13. 2026-05-31
    days on market $99,999 Active 18 DOM
14. 2026-05-13
    listed $99,999 Active
15. 2026-04-30
    historical
16. 2025-06-23
    price $125,000
17. 2025-02-15
    listed $190,000 Active
18. 2020-04-30
    historical
19. 2020-04-23
    historical Permanently Off Market
20. 2020-03-19
    price $190,000
21. 2020-03-19
    price $190,000
22. 2020-02-20
    price $200,000
23. 2020-02-19
    price $200,000
24. 2020-01-18
    price $220,000
25. 2020-01-15
    price $220,000
26. 2019-11-20
    price $235,000
27. 2019-11-19
    price $235,000
28. 2019-10-25
    listed $258,000 New
29. 2019-10-25
    listed $258,000 Active
30. 2019-10-25
    listed $190,000

ⓘ 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,408
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − HOA: −$19,632
• − Depreciation: −$2,909
• Taxable loss: −$4,600
• Est. tax savings @ 24.0%: +$1,104
• After-tax cash flow: $-2,798/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): 98,403
• Household income: $71,480
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 7283.0

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 0.58)
• Race & ethnicity: Asian 48% Hispanic / Latino 43% Two or more races 8% White 5% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 66% · Canada, China, Jamaica
• Languages at home: 14% English-only · Spanish 40% Chinese 16% Other Indo-European 13%

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: ▼ -0.98%
• Current HPI: 244.1055
• Rent YoY: ▲ 7.15%
• 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

-61.2% since first listed

17 events — show timeline

• 2026-05-13 Listed $99,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-23 Price Changed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-15 Listed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2020-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-04-23 Delisted — RLS at REBNY
• 2020-03-19 Price Changed $190,000 RLS at REBNY
• 2020-03-19 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-20 Price Changed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-19 Price Changed $200,000 RLS at REBNY
• 2020-01-18 Price Changed $220,000 RLS at REBNY
• 2020-01-15 Price Changed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-20 Price Changed $235,000 RLS at REBNY
• 2019-11-19 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-25 Listed $190,000 RLS at REBNY
• 2019-10-25 Listed $258,000 RLS at REBNY
• 2019-10-25 Listed $258,000 OneKey® MLS as Distributed by MLS Grid