210-15 23rd Ave Unit 4E · New York, NY 11360

$245,000

1 bd · 1.0 ba · 890 sqft · Condo · 308 Days on market

Built 1954 ↓ 2% since listing

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully maintained residence in the desirable area of Bay Terrace. This spacious 1-bedroom has an eat-in kitchen, an abundance of natural light showering the formal dining room, large living room, a nicely sized bedroom, and a bonus room with many potential uses. The updated bathroom has both tub and shower. Lots of closet space including a large walk-in for your comfort and use. The large and clean updated Laundry room is on the main floor off the beautiful lobby area, and a bike/storage room on the lobby floor as well. Beautifully landscaped with an outside seating area for year round enjoyment, and 1-car assigned parking available. Located across from the Bay Club, th

Key facts

• Formal dining room
• Walk-in closet
• Natural light

Tags

• EAT-IN KITCHEN
• NATURAL LIGHT
• FORMAL DINING ROOM
• BONUS ROOM
• UPDATED BATHROOM
• WALK-IN CLOSET

Property features AI

Exterior

• Parking: Assigned parking (1 space); Monthly parking fee of $60
• Security: Building security; Smoke detectors
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water; Trash collection
• Home design: Stock cooperative; 6-story building
• Construction: Brick exterior
• Exterior features: Brick construction; No waterfront

Interior

• Kitchen: Gas cooktop; Oven; Refrigerator
• Bedrooms: Rooms total: 6 (includes bedroom on first floor)
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Heating: see remarks
• Interior features: First-floor bedroom; First-floor full bath; Eat-in kitchen; Entrance foyer; Formal dining; Pantry; Walk-through kitchen; Walk-in closets; No pets allowed
• Laundry & utility: Common area laundry; Building laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: 219 active listings in the ZIP; 20 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 ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 308 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 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 1954 — 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 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 1954 — 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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.99×
• Total profit: $68,096
• Equity at exit: $113,760

10-year hold

• IRR: 18.5%
• Equity multiple: 3.76×
• Total profit: $189,093
• Equity at exit: $178,167

Cash invested: $68,600 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,842 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $552

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 76%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	11d	1	0.11mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	24d	1	0.11mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	24d	1	0.18mi
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	24d	1	0.21mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	19d	1	0.21mi
1816 Bell Blvd Bayside, NY	1.0	1.0	1000	$2,500	$2.50	24d	1	0.29mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	24d	1	0.31mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	2d	4	0.34mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.40mi
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	24d	1	0.46mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	0.64mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.66mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.23mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	24d	1	1.24mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.25mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.28mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	24d	1	1.29mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	19d	1	1.30mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	22d	1	1.38mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	19d	1	1.48mi

HOA detail condo

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

Listing history 10 events

1. 2026-06-18
   days on market $245,000 Active 308 DOM
2. 2026-06-17
   days on market $245,000 Active 307 DOM
3. 2026-06-15
   days on market $245,000 Active 305 DOM
4. 2026-06-13
   days on market $245,000 Active 303 DOM
5. 2026-06-10
   days on market $245,000 Active 299 DOM
6. 2026-06-08
   days on market $245,000 Active 298 DOM
7. 2026-06-03
   days on market $245,000 Active 293 DOM
8. 2026-06-01
   days on market $245,000 Active 291 DOM
9. 2026-05-31
   remarks 699-char remark
10. 2026-05-31
    listed $245,000 Active 290 DOM

ⓘ 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 ≥98°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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,104
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,728
• − Management: −$2,728
• − Depreciation: −$7,127
• Taxable income: $2,896
• Est. tax owed @ 24.0%: −$695
• After-tax cash flow: $5,929/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-2.0% since first listed

3 events — show timeline

• 2026-05-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-15 Listed $249,888 OneKey® MLS as Distributed by MLS Grid