83-20 98 St Unit 5J · New York, NY 11421

$199,000

1 bd · 1.0 ba · 750 sqft · Condo · 135 Days on market

Built 1952

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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

Great Development In Queens , Surrounded On Three Sides By Forest Park. O Low Maintenance Includes All Utilities O Close To Golf, Tennis, Running Track, Cross Country Trails, Bicycle Trails O Near To Train, Buses, Schools . O 100% Owner Occupied WALL TO WALL CARPETING WITH PADDING IS MANDATORY! or sound proofing floor, Additional information:Features:Lr/Dr

Key facts

• Tennis
• Close to golf
• Running track

Tags

• SURROUNDED ON THREE SIDES
• LOW MAINTENANCE
• INCLUDES ALL UTILITIES
• CLOSE TO GOLF
• TENNIS
• RUNNING TRACK

Property features AI

Exterior

• Parking: Has garage with 80 garage spaces; No carport; Parking features: Waitlist
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Public trash collection
• Home design: Stock cooperative; One-level unit; Entry level: 5
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator; Stainless steel appliances
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Gravity heating; Hot water heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Entrance foyer; No basement; Four total rooms; Six-story building
• Laundry & utility: Pets allowed: Cats OK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/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: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 138 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% 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 $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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 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 1952 — 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: 1.28% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 6.5

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $8,343
• Equity at exit: $29,672

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $59,637
• Equity at exit: $17,206

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 11421

• Active inventory: 138
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,547 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $637

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 70%

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 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8456 98th St Woodhaven, NY	1.0	1.0	1092	$2,500	$2.29	10d	1	0.30mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	5d	2	0.91mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,750	$3.44	2d	1	0.93mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	24d	1	0.96mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	12d	1	0.96mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	13d	1	0.98mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	24d	1	1.01mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$2,600	$2.89	24d	2	1.03mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	14d	1	1.03mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	24d	1	1.05mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	24d	1	1.05mi
78-68 84th St Unit 2 Flushing, NY	2.0	1.0	800	$3,500	$4.38	24d	1	1.08mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	24d	1	1.11mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	24d	1	1.11mi
91-19 75th St #1 Woodhaven, NY	1.0	1.0	600	$2,100	$3.50	7d	1	1.11mi
91-04 75th St Unit 1 Jamaica, NY	1.0	1.0	600	$2,100	$3.50	24d	1	1.12mi
9105 107th Ave Ozone Park, NY	1.0	1.0	648	$2,400	$3.70	19d	1	1.13mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	24d	1	1.14mi
9512 108th Ave Ozone Park, NY	2.0	1.0	1000	$2,800	$2.80	11d	1	1.19mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	24d	1	1.20mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	1.27mi
123-08 95th Ave Unit 2 South Richmond Hill, NY	2.0	1.5	1000	$2,400	$2.40	24d	1	1.28mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	24d	1	1.36mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	20d	2	1.49mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $199,000 Active 135 DOM
2. 2026-06-17
   days on market $199,000 Active 134 DOM
3. 2026-06-15
   days on market $199,000 Active 132 DOM
4. 2026-06-13
   days on market $199,000 Active 130 DOM
5. 2026-06-10
   days on market $199,000 Active 126 DOM
6. 2026-06-08
   days on market $199,000 Active 125 DOM
7. 2026-06-04
   days on market $199,000 Active 121 DOM
8. 2026-06-03
   days on market $199,000 Active 120 DOM
9. 2026-06-01
   days on market $199,000 Active 118 DOM
10. 2026-05-31
    days on market $199,000 Active 117 DOM
11. 2026-02-03
    listed $199,000 Active
12. 2026-01-01
    historical
13. 2025-12-31
    status Active
14. 2025-11-01
    status Pending
15. 2025-09-09
    listed $198,000 Active
16. 2025-09-01
    historical
17. 2025-07-07
    status Active
18. 2025-06-10
    status Pending
19. 2025-03-31
    listed $199,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,561
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,445
• − Management: −$2,445
• − Depreciation: −$5,789
• Taxable income: $4,755
• Est. tax owed @ 24.0%: −$1,141
• After-tax cash flow: $6,499/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): 40,612
• Household income: $90,685
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1540.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 56% Two or more races 24% Asian 20% White 13% Black 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 9% Dominican 18%
• Common ancestry: Romanian 2%
• Foreign-born: 52% · Canada, China, Jamaica
• Languages at home: 30% English-only · Spanish 46% Chinese 9% Other Indo-European 7%

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: ▼ -409.05%
• Current HPI: 298.1143
• 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

+0.0% since first listed

9 events — show timeline

• 2026-02-03 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-31 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-09 Listed $198,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-31 Listed $199,000 OneKey® MLS as Distributed by MLS Grid