61-40 Saunders St Unit D24 · New York, NY 11374

$239,000

1 bd · 1.0 ba · 700 sqft · Condo · 119 Days on market

Built 1920

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Cash flow +4.4/30.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor friendly! This Co-op unit is not required a board approval and can be SUBLET immediately. Completely renovated apartment with new kitchen cabinets and new appliances. Heat and hot water is included. Building situated within few minutes from all shopping and major transportation. Only few short blocks to R/M train station.

Key facts

• Built 1920
• Listed 119 days

Property features AI

Finance

• HOA & community: Association fee includes heat, hot water, sewer, trash and water

Exterior

• Parking: No carport
• Utilities: Con Edison electric service; Natural gas available; Public sewer; Water connected; Trash collection (public)
• Home design: Stock cooperative; One level; 4-story building (total stories); Walk-up entry
• Construction: Block and brick construction
• Exterior features: Block and brick construction; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 3 rooms total (includes bedroom on first floor)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; High ceilings; Aluminum window frames; Double-pane windows; Walk-up building
• Laundry & utility: Laundry room; Common area laundry; In-basement laundry access

🏢 Co-op / cooperative unit. The $239,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $239k.

Deal economics

• At list price, monthly cash flow is $-627 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $239k).
• Recommended offer: $217k (9.0% 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 (+1.7%/yr); 345 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($91k/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 119 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 37% of rent; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $217,490 (9.0% 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 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.03% ✓
• Cap rate: 3.14%
• Cash-on-cash: -11.25%
• DSCR: 0.50
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.74% rent growth · sell at horizon

5-year hold

• IRR: -39.0%
• Equity multiple: -0.21×
• Total profit: $-81,175
• Equity at exit: $35,636

10-year hold

• IRR: -74.8%
• Equity multiple: -0.97×
• Total profit: $-132,040
• Equity at exit: $20,664

Cash invested: $66,920 (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 11374

• Rents YoY: 1.7%
• Active inventory: 345
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,466 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA est. from 1 same-building comp: −$924
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $-627

Break-even live

Break-even rent $3,260

Max offer price $148,205

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.26mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	24d	1	0.27mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	10d	1	0.34mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	4d	1	0.36mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.38mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	1d	1	0.39mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	4d	1	0.48mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	2d	3	0.52mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	24d	3	0.52mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.55mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.71mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	24d	2	0.72mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	4d	3	0.76mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	24d	1	0.77mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	16d	1	0.83mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.88mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	18d	1	0.92mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	7d	1	0.94mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	18d	1	0.95mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	4d	1	0.97mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	24d	1	0.98mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	0.98mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	24d	1	1.04mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	18d	1	1.05mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	24d	1	1.07mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	4d	1	1.24mi
6820 Selfridge St Unit 3L Forest Hills, NY	—	1.0	500	$1,900	$3.80	24d	1	1.35mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	1.36mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	24d	1	1.36mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	24d	1	1.41mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	18d	1	1.48mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	18d	1	1.50mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-18
   days on market $239,000 Active 119 DOM
2. 2026-06-17
   days on market $239,000 Active 118 DOM
3. 2026-06-15
   days on market $239,000 Active 116 DOM
4. 2026-06-13
   days on market $239,000 Active 114 DOM
5. 2026-06-10
   days on market $239,000 Active 110 DOM
6. 2026-06-08
   days on market $239,000 Active 109 DOM
7. 2026-06-04
   days on market $239,000 Active 105 DOM
8. 2026-06-03
   days on market $239,000 Active 104 DOM
9. 2026-06-01
   days on market $239,000 Active 102 DOM
10. 2026-05-31
    remarks 332-char remark
11. 2026-05-31
    listed $239,000 Active 101 DOM

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% 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: $29,593
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,367
• − Management: −$2,367
• − HOA: −$11,088
• − Depreciation: −$6,953
• Taxable loss: −$11,350
• Est. tax savings @ 24.0%: +$2,724
• After-tax cash flow: $-4,806/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): 46,989
• Household income: $90,631
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 3149.0

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 0.72)
• Race & ethnicity: White 38% Asian 29% Hispanic / Latino 22% Two or more races 13% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 3%
• Common ancestry: Scotch-Irish 6% Romanian 2% Subsaharan African 1%
• Foreign-born: 54% · Canada, China, Jamaica
• Languages at home: 28% English-only · Spanish 18% Russian/Polish/Slavic 15% Chinese 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: ▼ -163.20%
• Current HPI: 207.1869
• Rent YoY: ▲ 1.74%
• 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

+61.5% since first listed

15 events — show timeline

• 2026-05-27 Price Changed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-15 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Coming Soon $249,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-26 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-22 Listed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-10-18 Price Changed $269,777 OneKey® MLS as Distributed by MLS Grid
• 2023-10-16 Price Changed $275,777 OneKey® MLS as Distributed by MLS Grid
• 2023-08-14 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-02 Price Changed $319,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-21 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2013-07-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-05-03 Listed $148,000 OneKey® MLS as Distributed by MLS Grid