108-05 Astoria Blvd Unit 1B · New York, NY 11369

$199,999

1 bd · 1.0 ba · 700 sqft · Condo · 116 Days on market

Built 1965

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Updated cabinets
• New renovations
• Prime location

Tags

• PRIME LOCATION
• NEW RENOVATIONS
• MODERN DESIGNED KITCHEN
• CUSTOM BREAKFAST BAR
• UPDATED CABINETS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $813 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: Ps 127 Aerospace Science Magnet School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 1,056 students, 81% 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: 112 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $172k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $181,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.39% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.8%
• Equity multiple: 1.35×
• Total profit: $19,395
• Equity at exit: $29,821

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $83,710
• Equity at exit: $17,292

Cash invested: $56,000 (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 11369

• Home prices YoY: -26.6%
• Active inventory: 112
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,778 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $813

Break-even live

Break-even rent $1,750

Max offer price $199,999

Occupancy floor 66%

Sensitivity live

Price	-10% $951	-5% $882	+0% $813	+5% $744	+10% $674
Rent	-10% $593	-5% $703	+0% $813	+5% $922	+10% $1,032
Rate	-1.0pp $913	-0.5pp $864	base $813	+0.5pp $761	+1.0pp $708

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	1d	1	0.24mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	26d	1	0.31mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	26d	1	0.33mi
10006 32nd Ave East Elmhurst, NY	1.0	1.0	500	$2,500	$5.00	13d	1	0.42mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	21d	1	0.63mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	26d	1	1.30mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$3,675	$4.82	5d	3	1.33mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	21d	3	1.33mi
25-05 124th St Fl 1 Flushing, NY	2.0	1.0	750	$2,300	$3.07	21d	1	1.38mi
13336 37th Ave Unit 3K Flushing, NY	—	1.0	500	$3,200	$6.40	26d	1	1.43mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.44mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	26d	1	1.44mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	6d	1	1.48mi
3371 Prince St Unit 13L Flushing, NY	1.0	1.0	452	$2,800	$6.19	26d	1	1.49mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	17d	1	1.49mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	17d	1	1.49mi

HOA detail condo

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

Listing history 7 events

1. 2025-12-28
   status Pending
2. 2025-08-20
   listed $199,999 Active
3. 2020-05-21
   soldstatus $172,000 Closed 186-char remark

   Show marketing remark (186 chars)

   1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

4. 2020-03-27
   status Pending 186-char remark

   Show marketing remark (186 chars)

   1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

5. 2020-01-04
   status Under Contract 186-char remark

   Show marketing remark (186 chars)

   1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

6. 2019-10-11
   price $185,000 186-char remark

   Show marketing remark (186 chars)

   1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

7. 2019-10-01
   listed $180,000 New 186-char remark

   Show marketing remark (186 chars)

   1 Bedroom, Kitchen, Full Bathroom, Living Room and Dinning Room Combo. Washer and Dryer on Each Floor., Additional information: Appearance:Good,Interior Features:Efficiency Kitchen,Lr/Dr

ⓘ 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 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,339
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − Depreciation: −$5,818
• Taxable income: $6,984
• Est. tax owed @ 24.0%: −$1,676
• After-tax cash flow: $8,076/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
• City population: 7,731,280
• Population (ZIP): 33,354

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 0.60)
• Race & ethnicity: Hispanic / Latino 59% Black 17% Two or more races 14% Asian 14% White 7%
• Hispanic origin (detail): Mexican 11% Puerto Rican 4% Dominican 12%
• Common ancestry: Hispanic 1% Lithuanian 1% Estonian 1%
• Foreign-born: 53% · Canada, Jamaica, China
• Languages at home: 28% English-only · Spanish 56% Other Indo-European 6% Chinese 4%

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: ▼ -134.70%
• Current HPI: 371.5179
• Rent YoY: —
• Metro: —
• 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

+11.1% since first listed

7 events — show timeline

• 2025-12-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-20 Listed $199,999 OneKey® MLS as Distributed by MLS Grid
• 2020-05-21 Sold (MLS) $172,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-01-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-10-11 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-01 Listed $180,000 OneKey® MLS as Distributed by MLS Grid