87-10 204 Unit B-61 · New York, NY 11427

$179,000

1 bd · 1.0 ba · 619 sqft · Condo · 83 Days on market

Built 1954 Fair condition

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

1 bedroom co-op available for immediate occupancy. Located in a beautiful building with close proximity to parks, schools, parkways, transportation, and other area amenities.

Key facts

• Built 1954
• Listed 83 days

Tags

• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO SCHOOLS
• CLOSE PROXIMITY TO PARKWAYS

Property features AI

Exterior

• Parking: On-street parking; No carport
• Utilities: Sewer: Other; Utilities: See remarks
• Home design: Stock cooperative; One level; Entry on level 6; Actual property condition
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas Range; Refrigerator
• Bedrooms: 2 rooms total (entry level 6)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Steam heating; Other heating; No cooling
• Interior features: Elevator; Common area laundry; Gas Range; Refrigerator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $179k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: 113 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 30% of the median local income ($89k/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 $5k 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 $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.26% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.08%
• DSCR: 1.58
• GRM: 6.6

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $5,823
• Equity at exit: $26,689

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $50,012
• Equity at exit: $15,477

Cash invested: $50,120 (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 11427

• Active inventory: 113
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,257 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $546

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 71%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	10d	1	0.28mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	0.35mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.71mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	0.71mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	24d	1	0.83mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.14mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	24d	1	1.24mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	1.43mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	3d	1	1.43mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	3d	1	1.43mi
177-18 Wexford Ter Unit 601 Jamaica, NY	1.0	1.0	400	$2,600	$6.50	12d	1	1.44mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	1.45mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $179,000 Active 83 DOM
2. 2026-06-17
   days on market $179,000 Active 82 DOM
3. 2026-06-15
   days on market $179,000 Active 80 DOM
4. 2026-06-13
   days on market $179,000 Active 78 DOM
5. 2026-06-10
   days on market $179,000 Active 74 DOM
6. 2026-06-08
   days on market $179,000 Active 73 DOM
7. 2026-06-08
   days on market $179,000 Active 72 DOM
8. 2026-06-04
   days on market $179,000 Active 69 DOM
9. 2026-06-03
   days on market $179,000 Active 68 DOM
10. 2026-06-01
    days on market $179,000 Active 66 DOM
11. 2026-05-31
    days on market $179,000 Active 65 DOM
12. 2026-03-26
    listed $179,000 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: $27,089
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,167
• − Management: −$2,167
• − Depreciation: −$5,207
• Taxable income: $3,940
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $5,610/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 · 5 photos

Fair 45/100 Cosmetic rehab

The property is a 1-bedroom co-op with a fair condition, requiring minor repairs and maintenance. The interior and exterior appear to be in average condition, and a touch-up of the paint and some landscaping would significantly increase its value.

Repairs flagged

• Minor Paint — The paint quality is not clear from the photos, but it appears to be in need of touch-up.

Value-add opportunities

• Resale Paint touch-up — Paint touch-up can improve the appearance of the interior and make the unit more appealing to potential buyers.
• Both Landscaping — Landscaping can improve the curb appeal and make the unit more attractive to both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · The paint quality is not clear from the photos, but it appears to be in need of touch-up.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Resale Paint touch-up — Paint touch-up can improve the appearance of the interior and make the unit more appealing to potential buyers. ↑
• Both Landscaping — Landscaping can improve the curb appeal and make the unit more attractive to both buyers and renters. ↑

ⓘ 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): 24,607
• Household income: $88,980
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 811.0

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 0.77)
• Race & ethnicity: Asian 37% Black 22% Hispanic / Latino 17% White 14% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 49% English-only · Other Indo-European 16% Spanish 14% Tagalog/Filipino 5%

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: ▼ -436.66%
• Current HPI: 297.7969
• 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

1 event — show timeline

• 2026-03-26 Listed $179,000 OneKey® MLS as Distributed by MLS Grid