73-44 Austin St Unit 5/S · New York, NY 11375

$339,000

1 bd · 1.0 ba · 800 sqft · Condo · 23 Days on market

Built 1953 Good condition ↓ 3% 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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Prime Location - Spacious 1 Bedroom with Southern Exposure, Low Maintenance, and IMMEDIATE PARKING. Welcome to this king-size 1-bedroom Co-op with a smart, functional layout and incredible southern light. The entry foyer offers two generous double closets, leading into a bright, spacious living room and a windowed kitchen featuring granite countertops, ample prep space, and rich cherry cabinets. Oak hardwood floors and double-pane windows run throughout. The oversized bedroom overlooks Austin Street and includes double closets, with a clean, windowed full bath completing the home. Austin Gardens is a well-maintained, financially strong coop with exceptionally low maintenance at just $626.61

Key facts

• Double closets
• Entry foyer
• Windowed kitchen

Tags

• ENTRY FOYER
• DOUBLE CLOSETS
• WINDOWED KITCHEN
• GRANITE COUNTERTOPS
• RICH CHERRY CABINETS
• OAK HARDWOOD FLOORS

Property features AI

Finance

• HOA & community: Has association; Building amenities include elevators and other shared features; Association fees include gas, heat, hot water, sewer, trash, water, snow removal and other items

Exterior

• Parking: Garage; On-street parking; Other parking options; 1 garage space; Parking fee applies
• Utilities: Sewer: Other; Utilities: See remarks
• Home design: Stock cooperative; Estimated condition; Situated between 3rd and 5th floors; One level (unit); Total building stories: 6
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront; Near public transit, schools, and shops

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Bedrooms: Located between 3rd and 5th floors
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Other heating
• Interior features: Eat-in kitchen; Entrance foyer; Granite counters; Cats allowed, no dogs
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $339k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-68 ($-822/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (15.1% below list).
• Recommended offer: $288k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 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 33% 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 23 days — a 2% lower offer ($334k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $287,882 (15.1% 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. Built in 1953 — 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. 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 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: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 9.8

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: -15.2%
• Equity multiple: 0.45×
• Total profit: $-52,436
• Equity at exit: $50,546

10-year hold

• IRR: -3.1%
• Equity multiple: 0.77×
• Total profit: $-21,787
• Equity at exit: $29,311

Cash invested: $94,920 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,879 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $-68

Break-even live

Break-even rent $2,966

Max offer price $329,090

Occupancy floor 97%

Sensitivity live

Price	-10% $166	-5% $49	+0% $-68	+5% $-186	+10% $-303
Rent	-10% $-296	-5% $-182	+0% $-68	+5% $45	+10% $159
Rate	-1.0pp $102	-0.5pp $18	base $-68	+0.5pp $-156	+1.0pp $-246

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	20d	1	0.07mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	13d	1	0.11mi
108-25 72nd Ave Unit 6B Flushing, NY	2.0	1.0	800	$3,900	$4.88	1d	1	0.17mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	0.17mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	22d	2	0.18mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	1d	2	0.18mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	0.19mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,600	$3.09	1d	1	0.24mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	26d	1	0.34mi
10620 70th Ave Unit 6B Forest Hills, NY	1.0	1.0	765	$3,600	$4.71	26d	1	0.37mi
6945 108th St Unit 3F Forest Hills, NY	2.0	1.0	900	$3,600	$4.00	8d	1	0.46mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	26d	1	0.54mi
10460 Queens Blvd Forest Hills, NY	1.0–2.0	1.0	916	$3,350	$3.66	7d	2	0.56mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	26d	1	0.72mi
10240 67th Dr Unit 1C Forest Hills, NY	1.0	1.5	780	$2,500	$3.21	26d	1	0.76mi
6739 Clyde St Ph -H Forest Hills, NY	2.0	2.0	1100	$4,100	$3.73	26d	1	0.79mi
6725 Dartmouth St Unit 3L Forest Hills, NY	2.0	1.0	800	$2,700	$3.38	26d	1	0.81mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	0.81mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	21d	1	0.81mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	26d	1	0.82mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	0.82mi
10010 67th Rd Unit 6L Forest Hills, NY	1.0	1.0	845	$2,700	$3.20	24d	1	0.82mi
67-19 Austin St Unit 4C Flushing, NY	2.0	1.0	800	$3,500	$4.38	15d	1	0.84mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	18d	1	0.85mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	9d	1	0.86mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	3d	1	0.87mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	26d	1	0.87mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	26d	1	0.88mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	26d	1	0.88mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	26d	1	0.92mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	26d	1	0.93mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	26d	1	0.93mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	6d	3	0.94mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	6d	1	0.95mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	26d	2	0.96mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	3d	1	0.96mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.97mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,600	$3.25	0d	1	0.97mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	15d	1	0.97mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	0.98mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-21
   days on market $339,000 Active 23 DOM
2. 2026-06-18
   days on market $339,000 Active 20 DOM
3. 2026-06-17
   days on market $339,000 Active 19 DOM
4. 2026-06-16
   days on market $339,000 Active 18 DOM
5. 2026-06-15
   days on market $339,000 Active 17 DOM
6. 2026-06-13
   days on market $339,000 Active 15 DOM
7. 2026-06-09
   days on market $339,000 Active 11 DOM
8. 2026-06-08
   days on market $339,000 Active 10 DOM
9. 2026-06-08
   days on market $339,000 Active 9 DOM
10. 2026-06-04
    days on market $339,000 Active 6 DOM
11. 2026-06-03
    days on market $339,000 Active 5 DOM
12. 2026-06-02
    days on market $339,000 Active 4 DOM
13. 2026-06-01
    days on market $339,000 Active 3 DOM
14. 2026-05-31
    days on market $339,000 Active 2 DOM
15. 2026-05-14
    price $339,000
16. 2025-11-28
    listed $349,000 Active
17. 2025-11-23
    historical $349,000

ⓘ 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: $34,546
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$2,764
• − Management: −$2,764
• − Depreciation: −$9,862
• Taxable loss: −$6,613
• Est. tax savings @ 24.0%: +$1,587
• After-tax cash flow: $765/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 · 12 photos

Good 75/100 Cosmetic rehab

This 1-bedroom Co-op is in good condition with a good condition score of 75. It has a good kitchen, good bathroom, good flooring, good exterior, good interior walls/paint, good roof, good windows, good foundation/structure, good HVAC/mechanicals, and good landscaping/curb appeal. The property is in need of painting interior walls, upgrading HVAC system, and landscaping improvements to increase its value.

Value-add opportunities

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both upgrading HVAC system — modern HVAC system improves comfort and energy efficiency
• Both landscaping improvements — enhanced landscaping increases curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both upgrading HVAC system — modern HVAC system improves comfort and energy efficiency ↑
• Both landscaping improvements — enhanced landscaping increases curb appeal and property value ↑

ⓘ 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

-2.9% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $339,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-28 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-23 Coming Soon $349,000 OneKey® MLS as Distributed by MLS Grid