8811 Elmhurst Ave Unit C8 · New York, NY 11373

$425,000

3 bd · 1.0 ba · 1,000 sqft · Condo · 128 Days on market

Built 1937

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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 +9.2/30.0
• 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
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping., Additional information: Appearance:Excellent

Key facts

• Built 1937
• Listed 127 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas range
• Bedrooms: Entry level: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Steam heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Finished common basement; 6 total rooms; Pets allowed (cats and dogs)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $-315 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $379k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $332k (21.9% below list).
• Recommended offer: $332k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $3,319/mo this rent would consume 56% of the median local household income ($71k/yr) (locally 7283% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $4k 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 128 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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.
• Current owner paid $190k; list at $425k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $331,891 (21.9% 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 128 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.78% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• GRM: 10.7

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: -7.0%
• Equity multiple: 0.69×
• Total profit: $-37,240
• Equity at exit: $102,958

10-year hold

• IRR: 3.3%
• Equity multiple: 1.35×
• Total profit: $41,445
• Equity at exit: $108,426

Cash invested: $119,000 (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: 10.7×

Monthly cashflow live

• Estimated rent: $3,319 high
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $-315

Break-even live

Break-even rent $3,718

Max offer price $379,399

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40-85 Denman St Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	20d	1	0.16mi
4050 Case St Elmhurst, NY	3.0	2.0	988	$3,900	$3.95	8d	1	0.17mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	15d	1	0.21mi
91-04 43rd Ave Unit 2ND Elmhurst, NY	3.0	1.0	1100	$3,600	$3.27	25d	1	0.27mi
9209 43rd Ave Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	25d	1	0.29mi
8910 35th Ave Unit E1L Jackson Heights, NY	2.0	1.0	850	$3,050	$3.59	25d	1	0.43mi
98-07 37th Ave Flushing, NY	3.0	1.0	750	$3,350	$4.47	25d	1	0.65mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	19d	1	0.84mi
94-30 60th Ave Apt 1H Queens, NY	3.0	1.5	1200	$3,200	$2.67	25d	1	1.05mi
30-13 85th St Unit 2 Flushing, NY	3.0	1.0	1100	$3,800	$3.45	22d	1	1.08mi
60-24 Wetherole St Unit 3 Elmhurst, NY	4.0	2.0	1000	$4,200	$4.20	25d	1	1.11mi
60-24 Wetherole St Unit 3rd Fl Elmhurst, NY	3.0	2.0	1000	$3,400	$3.40	3d	1	1.11mi
54-40 80th St Unit 1 Elmhurst, NY	2.0	2.0	956	$3,000	$3.14	25d	1	1.17mi
5440 80th St Elmhurst, NY	2.0	2.0	996	$3,000	$3.01	2d	1	1.17mi
58-14 84th St Unit 2 Flushing, NY	3.0	2.0	1200	$3,650	$3.04	25d	1	1.17mi
4911 108th St Unit 4A Corona, NY	3.0	2.0	1027	$3,600	$3.51	17d	1	1.18mi
58-28 84th St Unit 2 Flushing, NY	3.0	2.0	1200	$3,650	$3.04	25d	1	1.19mi
25-45 97th St Unit 2 Flushing, NY	2.0	1.0	1260	$2,800	$2.22	8d	1	1.23mi
25-61 99th St Unit 2nd Fl Flushing, NY	2.0	1.0	780	$3,200	$4.10	25d	1	1.24mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	25d	1	1.28mi
10869 50th Ave Corona, NY	3.0	1.0	912	$3,300	$3.62	25d	1	1.30mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$3,200	$3.88	25d	3	1.32mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$3,200	$3.88	3d	3	1.32mi
9707 24th Ave East Elmhurst, NY	3.0	1.5	1100	$4,500	$4.09	25d	1	1.45mi
6336 99th St Unit 5E Rego Park, NY	2.0	2.5	1333	$4,600	$3.45	5d	1	1.45mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	25d	1	1.49mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $425,000 Active 128 DOM
2. 2026-06-17
   days on market $425,000 Active 127 DOM
3. 2026-06-15
   days on market $425,000 Active 125 DOM
4. 2026-06-13
   days on market $425,000 Active 123 DOM
5. 2026-06-10
   days on market $425,000 Active 119 DOM
6. 2026-06-08
   days on market $425,000 Active 118 DOM
7. 2026-06-04
   days on market $425,000 Active 114 DOM
8. 2026-06-03
   days on market $425,000 Active 113 DOM
9. 2026-06-01
   days on market $425,000 Active 111 DOM
10. 2026-05-31
    days on market $425,000 Active 110 DOM
11. 2026-04-24
    status Active
12. 2026-02-12
    status Pending
13. 2025-12-01
    listed $425,000 Active
14. 2015-12-30
    soldstatus $190,000 147-char remark

    Show marketing remark (101 chars)

    Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping.

15. 2015-12-30
    soldstatus $190,000 Closed 101-char remark

    Show marketing remark (101 chars)

    Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping.

16. 2015-08-12
    status Under Contract 101-char remark

    Show marketing remark (101 chars)

    Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping.

17. 2015-06-08
    listed $199,000 New 101-char remark

    Show marketing remark (147 chars)

    Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping., Additional information: Appearance:Excellent

18. 2015-06-08
    listed $199,000 147-char remark

    Show marketing remark (147 chars)

    Mint Condition, Lots Of Windows, Excellent Location. Close To Everything, Subway, Buses And Shopping., Additional information: Appearance:Excellent

ⓘ 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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $39,827
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,186
• − Management: −$3,186
• − Depreciation: −$12,364
• Taxable loss: −$11,216
• Est. tax savings @ 24.0%: +$2,692
• After-tax cash flow: $-1,090/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

+113.6% since first listed

8 events — show timeline

• 2026-04-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Listed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2015-12-30 Sold (MLS) $190,000 OneKey® MLS as Distributed by MLS Grid
• 2015-12-30 Sold (MLS) $190,000 MLSLI
• 2015-08-12 Pending — MLSLI
• 2015-06-08 Listed $199,000 MLSLI
• 2015-06-08 Listed $199,000 OneKey® MLS as Distributed by MLS Grid