112-24 Northern Blvd Unit 3E · New York, NY 11368

$199,000

1 bd · 1.0 ba · 750 sqft · Condo · 54 Days on market

Built 1953 Good condition

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Why this score? — see what drove the A- 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 +9.2/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

Welcome to this historic coop building in Corona Queens. Known for it's connection to Jazz legends and WWII Hero, Dorie Miller. This sun filled residence offers a warm plus inviting feel from the moment you step inside. Spacious living and dining area accented with rich hardwood floors add charm and character. King sized bedroom offer ample space to unwind while the updated features boasts modern finishes. On site laundry as well as parking with fee waitlist.

Key facts

• Garage
• Built 1953
• Listed 53 days

Property features AI

Finance

• Other: Location described as between 3rd and 5th floors; Living area reported as approximately 750 sq ft
• HOA & community: Monthly association fee; Association fee covers grounds care, heat, hot water and water; Additional monthly energy assessment fee ($49)

Exterior

• Parking: Attached garage space (1); Parking waitlist; Monthly parking fee
• Security: Security system
• Utilities: Electric service by Con-Edison; Public sewer; Electricity and natural gas available
• Home design: Stock cooperative; Six-story building; Unit located between 3rd and 5th floors
• Construction: Brick/mortar foundation; Brick exterior
• Exterior features: Brick construction; Park and sidewalks nearby

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Located between the 3rd and 5th floors (unit on entry level 3)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); No central cooling
• Interior features: Elevator; Common basement; Dining area
• Laundry & utility: Laundry room; Laundry in basement

🏢 Co-op / cooperative unit. The $199,000 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 $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 243 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $2,828/mo this rent would consume 47% of the median local household income ($72k/yr) (locally 6817% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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: built in 1953 — 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 $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.42% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.49%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 3.32×
• Total profit: $129,127
• Equity at exit: $143,132

10-year hold

• IRR: 30.1%
• Equity multiple: 7.00×
• Total profit: $334,130
• Equity at exit: $276,759

Cash invested: $55,720 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,828 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $858

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 65%

Sensitivity live

Price	-10% $996	-5% $927	+0% $858	+5% $790	+10% $721
Rent	-10% $635	-5% $747	+0% $858	+5% $970	+10% $1,082
Rate	-1.0pp $959	-0.5pp $909	base $858	+0.5pp $807	+1.0pp $754

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 38 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	0d	1	0.32mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	25d	1	0.53mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	19d	1	0.55mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	25d	1	0.62mi
31-40 98th St Unit 2 Flushing, NY	1.0	1.0	800	$2,100	$2.62	8d	1	0.75mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	19d	1	0.76mi
25-61 99th St Unit 2nd Fl Flushing, NY	2.0	1.0	780	$3,200	$4.10	25d	1	0.78mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	19d	3	1.08mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$3,675	$4.82	4d	3	1.08mi
40-24 Aske St Unit 1FL Flushing, NY	1.0	1.0	800	$2,800	$3.50	0d	1	1.09mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	25d	1	1.10mi
8910 35th Ave Unit E1L Jackson Heights, NY	2.0	1.0	850	$3,050	$3.59	25d	1	1.16mi
4028 College Point Blvd #912 Flushing, NY	2.0	2.0	1083	$4,200	$3.88	25d	1	1.17mi
13101 40th Rd Unit 2P Flushing, NY	1.0	1.0	761	$3,300	$4.34	25d	1	1.18mi
4022 College Point Blvd Flushing, NY	1.0–2.0	1.0–2.0	983	$3,200	$3.25	25d	2	1.18mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	25d	1	1.23mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	5d	1	1.24mi
4142 College Point Blvd Unit 6A Flushing, NY	2.0	2.0	868	$3,000	$3.46	3d	1	1.25mi
13119 Fowler Ave Unit 7C Flushing, NY	2.0	2.0	810	$3,300	$4.07	19d	1	1.26mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	25d	1	1.28mi
13222 41st Rd #501 Flushing, NY	2.0	2.0	843	$3,400	$4.03	25d	1	1.29mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	16d	2	1.32mi
3371 Prince St Unit 6K Flushing, NY	2.0	2.0	768	$4,000	$5.21	16d	1	1.34mi
3371 Prince St Unit 7C Flushing, NY	2.0	2.0	773	$4,025	$5.21	16d	1	1.34mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	16d	1	1.34mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	16d	1	1.34mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	25d	1	1.34mi
13208 Pople Ave Unit 4A Flushing, NY	1.0	1.0	650	$2,500	$3.85	25d	1	1.35mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	25d	1	1.36mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.37mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	5d	1	1.38mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	4d	1	1.39mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	11d	1	1.42mi
137-02 Northern Blvd Unit 2F Flushing, NY	1.0	1.0	800	$2,550	$3.19	0d	1	1.42mi
25-05 124th St Fl 1 Flushing, NY	2.0	1.0	750	$2,300	$3.07	19d	1	1.43mi
133-38 Avery Ave Unit 3F-B Flushing, NY	2.0	2.0	884	$2,600	$2.94	25d	1	1.44mi
2353 124th St College Point, NY	1.0	1.0	1000	$2,650	$2.65	3d	1	1.47mi
61-20 Grand Central Pkwy Unit Bb706 Forest Hills, NY	2.0	1.0	970	$2,850	$2.94	19d	1	1.47mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-21
   days on market $199,000 Active 54 DOM
2. 2026-06-18
   days on market $199,000 Active 51 DOM
3. 2026-06-17
   days on market $199,000 Active 50 DOM
4. 2026-06-16
   days on market $199,000 Active 49 DOM
5. 2026-06-15
   days on market $199,000 Active 48 DOM
6. 2026-06-13
   days on market $199,000 Active 46 DOM
7. 2026-06-10
   days on market $199,000 Active 42 DOM
8. 2026-06-08
   days on market $199,000 Active 41 DOM
9. 2026-06-08
   days on market $199,000 Active 40 DOM
10. 2026-06-04
    days on market $199,000 Active 37 DOM
11. 2026-06-03
    days on market $199,000 Active 36 DOM
12. 2026-06-01
    days on market $199,000 Active 34 DOM
13. 2026-05-31
    days on market $199,000 Active 33 DOM
14. 2026-04-28
    listed $199,000 Active
15. 2023-03-31
    historical
16. 2022-10-10
    price $105,000
17. 2022-07-06
    price $108,000
18. 2021-11-10
    price $115,000
19. 2021-11-10
    status Active
20. 2021-11-07
    historical
21. 2021-10-06
    price $125,000
22. 2021-07-06
    listed $132,500 Active

ⓘ 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: $33,930
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,714
• − Management: −$2,714
• − Depreciation: −$5,789
• Taxable income: $7,585
• Est. tax owed @ 24.0%: −$1,820
• After-tax cash flow: $8,482/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated condo in a historic building offers a good investment opportunity with minimal repairs and updates needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value.
• Both Clean gutters — Improves drainage and property value.
• Both Replace window treatments — Fresh window treatments improve aesthetics and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value. ↑
• Both Clean gutters — Improves drainage and property value. ↑
• Both Replace window treatments — Fresh window treatments improve aesthetics and energy efficiency. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 3%

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: ▲ 7.40%
• Current HPI: 282.8276
• Rent YoY: —
• 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

+50.2% since first listed

9 events — show timeline

• 2026-04-28 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2023-03-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-10-10 Price Changed $105,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-06 Price Changed $108,000 OneKey® MLS as Distributed by MLS Grid
• 2021-11-10 Price Changed $115,000 OneKey® MLS as Distributed by MLS Grid
• 2021-11-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-11-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-10-06 Price Changed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2021-07-06 Listed $132,500 OneKey® MLS as Distributed by MLS Grid