92-31 57th Ave Unit 4M · New York, NY 11373

$265,000

1 bd · 1.0 ba · 750 sqft · Condo · 353 Days on market

Built 1965 ↓ 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 +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Appreciation +4.5/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to the vibrant community of Elmhurst. One spacious bedroom apartment with LOW maintenance and large living room. Make this your warm sanctuary with personal touch. This unit is a refined sanctuary nestled in the heart of Queens. This large 1-bedroom, 1-bathroom residence offers a perfect blend of comfort and style. As you enter, the inviting foyer greets you with the warmth of rich hardwood floors that flow seamlessly throughout the space. The living area is both spacious and inviting, ideal for entertaining guests or enjoying quiet evenings at home. The efficient kitchen is equipped with a gas range and refrigerator, making meal preparations effortless. The bedroom is a serene retr

Key facts

• Garage
• Built 1965
• Listed 353 days

Property features AI

Finance

• Other: Community features: Park, sidewalks
• HOA & community: Association: Blue Owl; Building amenities: Elevator(s), live-in super, grounds maintenance, park access, security, snow removal, trash service

Exterior

• Parking: Assigned parking; Garage (has garage)
• Utilities: Con Edison electric; Public sewer; Electricity connected; Natural gas connected; Public water; Public trash collection
• Home design: Stock cooperative; Located between 3rd and 5th floors
• Construction: Brick exterior; Finished common basement
• Exterior features: Brick construction

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total rooms: 4
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window cooling unit(s)
• Interior features: Eat-in kitchen; Entrance foyer; Natural woodwork; Finished common basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/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 $252k (5.0% below list).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 (+7.2%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 42% 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 $2k of loan paydown is wiped out by about $3k 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.
• At projected returns (-1.0% appreciation + 7.2% rent growth), your $74k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 353 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 353 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 1965 — 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. 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: 0.95% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.8

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,313
• Equity at exit: $64,197

10-year hold

• IRR: 10.3%
• Equity multiple: 2.15×
• Total profit: $85,026
• Equity at exit: $67,607

Cash invested: $74,200 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,518 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $158

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 89%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	11d	1	0.17mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	4d	1	0.39mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	24d	1	0.43mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	4d	1	0.47mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.48mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.54mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.55mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	3d	3	0.56mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	24d	3	0.56mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	19d	1	0.63mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.69mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	17d	2	0.70mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.74mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.77mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	24d	1	0.77mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.78mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	15d	1	0.80mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$2,400	$2.46	19d	2	0.81mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.82mi
5440 80th St Elmhurst, NY	2.0	2.0	996	$3,000	$3.01	2d	1	0.87mi
54-40 80th St Unit 1 Elmhurst, NY	2.0	2.0	956	$3,000	$3.14	24d	1	0.87mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	19d	1	0.89mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	24d	1	0.89mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.92mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	13d	1	0.92mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	24d	1	0.92mi
63127 Fitchett St Rego Park, NY	1.0	1.0	900	$2,800	$3.11	2d	1	0.96mi
63-127 Fitchett St Unit 1FL Rego Park, NY	2.0	1.0	1100	$3,800	$3.45	2d	1	0.96mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.97mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	24d	2	0.97mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	24d	2	0.99mi
66-01 Burns St Apt 3v Rego Park, NY	1.0	1.0	820	$2,300	$2.80	20d	1	1.00mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	19d	1	1.02mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	15d	1	1.03mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	1.05mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	24d	1	1.05mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	24d	1	1.06mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	24d	1	1.06mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	5d	3	1.06mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	24d	1	1.08mi

HOA detail condo

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

Listing history 4 events

1. 2026-05-13
   status Pending
2. 2026-02-04
   price $265,000
3. 2025-05-26
   listed $300,000 Active
4. 2025-05-12
   historical $300,000

ⓘ 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: $30,217
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$7,709
• Taxable loss: −$2,471
• Est. tax savings @ 24.0%: +$593
• After-tax cash flow: $2,488/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

-11.7% since first listed

4 events — show timeline

• 2026-05-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-26 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-12 Coming Soon $300,000 OneKey® MLS as Distributed by MLS Grid