30-47 Hobart St Unit DDB · New York, NY 11377

$320,000

2 bd · 1.0 ba · 600 sqft · Condo · 286 Days on market

Built 1935 ↓ 16% 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 +21.4/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corner 1Br With Dining Area. Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border, On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available.

Key facts

• On site laundry
• Near all schools
• Private security

Tags

• PARK LIKE GROUNDS
• ON SITE LAUNDRY
• PRIVATE SECURITY
• NEAR ALL SCHOOLS
• LOCAL RETAIL SHOPPING
• M AND R SUBWAYS

Property features AI

Exterior

• Parking: No carport
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Six-story building; One level unit
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: 3 rooms total (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: High ceilings; No pets allowed
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising fast (+6.1%/yr); 351 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $4,324/mo this rent would consume 71% of the median local household income ($73k/yr) (locally 5474% 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 (-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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $90k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $174k; list at $320k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.35% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.35%
• DSCR: 1.28
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-7,296
• Equity at exit: $47,713

10-year hold

• IRR: 11.5%
• Equity multiple: 2.06×
• Total profit: $95,208
• Equity at exit: $27,668

Cash invested: $89,600 (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 11377

• Home prices YoY: -28.8%
• Rents YoY: 6.1%
• Active inventory: 351
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $4,324 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA est. from 1 same-building comp: −$731
• Vacancy / Maint / Mgmt: −$908
• Net cashflow: $474

Break-even live

Break-even rent $3,725

Max offer price $320,000

Occupancy floor 84%

Sensitivity live

Price	-10% $695	-5% $584	+0% $474	+5% $363	+10% $253
Rent	-10% $132	-5% $303	+0% $474	+5% $645	+10% $816
Rate	-1.0pp $635	-0.5pp $555	base $474	+0.5pp $391	+1.0pp $307

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	0d	23	0.67mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	20d	1	1.33mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	11d	3	1.38mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $320,000 Active 286 DOM
2. 2026-06-18
   days on market $320,000 Active 283 DOM
3. 2026-06-17
   days on market $320,000 Active 282 DOM
4. 2026-06-15
   days on market $320,000 Active 280 DOM
5. 2026-06-13
   days on market $320,000 Active 278 DOM
6. 2026-06-10
   days on market $320,000 Active 274 DOM
7. 2026-06-08
   days on market $320,000 Active 273 DOM
8. 2026-06-03
   days on market $320,000 Active 268 DOM
9. 2026-06-01
   days on market $320,000 Active 266 DOM
10. 2026-05-31
    days on market $320,000 Active 265 DOM
11. 2026-04-21
    price $320,000
12. 2026-03-02
    price $329,000
13. 2025-11-14
    price $340,000
14. 2025-09-08
    listed $350,000 Active
15. 2014-02-25
    soldstatus $174,000 Closed 365-char remark

    Show marketing remark (448 chars)

    Corner 1Br With Dining Area.Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border,On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available., Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

16. 2014-02-25
    soldstatus $174,000 448-char remark

    Show marketing remark (448 chars)

    Corner 1Br With Dining Area.Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border,On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available., Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

17. 2013-12-11
    status Under Contract 365-char remark

    Show marketing remark (365 chars)

    Corner 1Br With Dining Area. Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border, On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available.

18. 2013-09-04
    listed $185,000 New 365-char remark

    Show marketing remark (448 chars)

    Corner 1Br With Dining Area.Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border,On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available., Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

19. 2013-09-04
    listed $185,000 448-char remark

    Show marketing remark (448 chars)

    Corner 1Br With Dining Area.Windowed Kitchen And Windowed Bath. Oversized Windows Let In Good Light. Hardwood Floors Throughout. Located On The Woodside/Astoria Border,On Over 11 Acres Of Park-Like Setting, Offering The Best Of Both Neighborhoods. Live In Super & Assistant Super. On Site Management Office. Laundry Rms. Bike & Personal Storage Available., Additional information: Appearance:Mint,Interior Features:Efficiency Kitchen,Lr/Dr

20. 2013-02-05
    soldstatus $362,500
21. 2012-09-16
    listed $379,000

ⓘ 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 6 d/yr ≥99°F today · 12 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,894
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$4,152
• − Management: −$4,152
• − HOA: −$8,772
• − Depreciation: −$9,309
• Taxable income: $1,185
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $5,402/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): 81,690
• Household income: $73,073
• Rent vs Own: 70.5% rent · 29.5% own
• Severe rent burden: 5474.0

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: Hispanic / Latino 40% Asian 36% Two or more races 20% White 20% Black 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4% Dominican 5%
• Common ancestry: Romanian 2%
• Foreign-born: 56% · Canada, China, Jamaica
• Languages at home: 27% English-only · Spanish 34% Other Indo-European 16% Chinese 6%

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: ▼ -110.83%
• Current HPI: 273.9408
• Rent YoY: ▲ 6.09%
• 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

-15.6% since first listed

11 events — show timeline

• 2026-04-21 Price Changed $320,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $329,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $340,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-08 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-25 Sold (MLS) $174,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-25 Sold (MLS) $174,000 MLSLI
• 2013-12-11 Pending — MLSLI
• 2013-09-04 Listed $185,000 MLSLI
• 2013-09-04 Listed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2013-02-05 Sold (MLS) $362,500 OneKey® MLS as Distributed by MLS Grid
• 2012-09-16 Listed $379,000 OneKey® MLS as Distributed by MLS Grid