141-05 Pershing Cres #202 · New York, NY 11432

$249,900

1 bd · 1.0 ba · 715 sqft · Condo public records · 156 Days on market

Built 1950 ↓ 11% since listing

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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 +16.0/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• 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 a dining nook/office space that adds an elegant touch. The western exposures provide an abundance of natural light, creating a bright and inviting atmosphere. The galley kitchen features older appliances and cabinetry but has a full size window and is primed for renovation. 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 ga

Key facts

• Galley kitchen
• Full size window
• Dining nook

Tags

• DINING NOOK
• WESTERN EXPOSURES
• GALLEY KITCHEN
• FULL SIZE WINDOW
• FOUR FULL-SIZED CLOSETS
• FULL-TIME SUPERINTENDENT

Property features AI

Finance

• HOA & community: Cooperative (co-op) ownership

Exterior

• Parking: 1-car garage; No carport; Waitlist for additional parking
• Security: Fire escape; Fire sprinkler system; Security system; Video cameras
• Utilities: Con Edison electric service; Natural gas available; Public sewer; Water connected; Trash collection (private); Electricity available; Sewer connected
• Home design: Stock cooperative; One level interior unit; Located on the 2nd entry level; 6-story building
• Construction: Brick construction; Block and brick/mortar foundation
• Exterior features: Courtyard; Mailbox

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Second floor location
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: Formal dining area; Galley-style kitchen; High ceilings; Open floor plan; Double-pane windows; Home office
• Laundry & utility: Laundry room; Common area laundry; Basement laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (6.2% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.
• Market conditions: Rents flat; 198 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 38% 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 $2k of loan paydown is wiped out by about $7k 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 156 days — a 12% lower offer ($220k) 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, 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 $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 1950 — 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. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 8.9

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: -15.5%
• Equity multiple: 0.46×
• Total profit: $-37,742
• Equity at exit: $37,261

10-year hold

• IRR: -11.4%
• Equity multiple: 0.39×
• Total profit: $-42,892
• Equity at exit: $21,607

Cash invested: $69,972 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,343 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $124

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 90%

Sensitivity live

Price	-10% $297	-5% $210	+0% $124	+5% $38	+10% $-49
Rent	-10% $-61	-5% $32	+0% $124	+5% $217	+10% $309
Rate	-1.0pp $250	-0.5pp $188	base $124	+0.5pp $59	+1.0pp $-7

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	15d	1	0.06mi
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	8d	1	0.29mi
138-28 Queens Blvd Unit 5B Briarwood, NY	1.0	1.0	500	$2,600	$5.20	25d	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 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
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
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	23d	1	0.55mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	415	$2,100	$5.06	0d	1	0.55mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	14d	1	0.56mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	25d	1	0.67mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	25d	1	0.78mi
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
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	20d	1	0.95mi
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
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
8449 168th St Jamaica, NY	—	1.0	500	$1,850	$3.70	25d	1	1.09mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	6d	2	1.11mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	25d	1	1.12mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	25d	1	1.29mi
163-07 72nd Ave Unit 2G Flushing, NY	1.0	1.0	402	$2,000	$4.98	25d	1	1.29mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	1.35mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	1.35mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	1.39mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	1.45mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-21
   days on market $249,900 Active 156 DOM
2. 2026-06-18
   days on market $249,900 Active 153 DOM
3. 2026-06-17
   days on market $249,900 Active 152 DOM
4. 2026-06-15
   days on market $249,900 Active 150 DOM
5. 2026-06-13
   days on market $249,900 Active 148 DOM
6. 2026-06-10
   days on market $249,900 Active 144 DOM
7. 2026-06-08
   days on market $249,900 Active 143 DOM
8. 2026-06-04
   days on market $249,900 Active 139 DOM
9. 2026-06-03
   days on market $249,900 Active 138 DOM
10. 2026-06-01
    days on market $249,900 Active 136 DOM
11. 2026-05-31
    days on market $249,900 Active 135 DOM
12. 2026-04-02
    price $249,900
13. 2026-01-16
    listed $279,900 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 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: $28,119
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,249
• − Management: −$2,249
• − Depreciation: −$7,270
• Taxable loss: −$2,647
• Est. tax savings @ 24.0%: +$635
• After-tax cash flow: $2,125/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

-10.7% since first listed

2 events — show timeline

• 2026-04-02 Price Changed $249,900 OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Listed $279,900 OneKey® MLS as Distributed by MLS Grid