88-17 Shore Pkwy #016 · New York, NY 11414

$325,000

2 bd · 1.0 ba · 756 sqft · Condo · 37 Days on market

Built 1958 Good condition

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Why this score? — see what drove the D 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 +12.3/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained 2 bedroom, 1 bath garden apartment located in a peaceful courtyard setting. This inviting home features elegant crown molding that adds a touch of sophistication throughout the living space. The apartment offers a comfortable layout with spacious bedrooms, a bright living area, and a well-maintained kitchen. Enjoy the tranquility and charm of the courtyard while still being conveniently close to shopping, dining, and transportation. A wonderful opportunity for comfortable and convenient living.

Key facts

• Built 1958
• Listed 37 days

Property features AI

Finance

• HOA & community: Association: Delkap; Association covers utilities, electricity, gas, grounds care, heat, hot water, sewer, snow removal, trash and water; Additional monthly maintenance fee of $1,002.84

Exterior

• Parking: On-street parking (waitlist)
• Security: Smoke detector(s)
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Stock cooperative property; Actual property condition reported
• Construction: Brick exterior
• Exterior features: Brick construction; Smoke detectors installed; Not waterfront

Interior

• Kitchen: Range; Microwave; Refrigerator; Dryer
• Bedrooms: 2nd level entry
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: Galley-style kitchen; Dining area; No basement; Pets allowed (contact association)
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-57 ($-689/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (14.8% below list).
• Recommended offer: $277k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: 258 active listings in the ZIP; 6 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 35% of the median local income ($95k/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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,037 (14.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 9.8

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-56,279
• Equity at exit: $48,459

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-53,545
• Equity at exit: $28,100

Cash invested: $91,000 (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 11414

• Active inventory: 258
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,770 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $-57

Break-even live

Break-even rent $2,843

Max offer price $316,693

Occupancy floor 97%

Sensitivity live

Price	-10% $167	-5% $55	+0% $-57	+5% $-170	+10% $-282
Rent	-10% $-276	-5% $-167	+0% $-57	+5% $52	+10% $161
Rate	-1.0pp $106	-0.5pp $25	base $-57	+0.5pp $-142	+1.0pp $-227

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-29 155th Ave Unit 5J Queens, NY	1.0	1.0	800	$2,500	$3.12	25d	1	0.15mi
8439 153rd Ave Unit 5A Howard Beach, NY	1.0	1.0	800	$2,500	$3.12	25d	1	0.20mi
149-09 84th St Unit 2 Howard Beach, NY	3.0	1.5	750	$3,200	$4.27	25d	1	0.37mi
9512 108th Ave Ozone Park, NY	2.0	1.0	1000	$2,800	$2.80	12d	1	0.93mi
9105 107th Ave Ozone Park, NY	1.0	1.0	648	$2,400	$3.70	19d	1	0.94mi
10215 Dunton Ct Howard Beach, NY	3.0	2.0	1100	$3,500	$3.18	25d	1	1.13mi

HOA detail condo

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

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-03-16
   listed $325,000 Active
3. 2026-03-11
   historical $325,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $33,244
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,660
• − Management: −$2,660
• − Depreciation: −$9,455
• Taxable loss: −$6,234
• Est. tax savings @ 24.0%: +$1,496
• After-tax cash flow: $807/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 · 14 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 1-bath garden apartment is in good condition with a good condition score of 75. It has a good roof, exterior, and interior walls. The kitchen and bathroom may benefit from minor repairs and updates to improve their appearance and functionality. The home is move-in ready and has a good potential for increasing its value through cosmetic updates.

Repairs flagged

• Minor Kitchen cabinets — The cabinets are standard and may benefit from a fresh coat of paint or some minor repairs.
• Minor Bathroom fixtures — The fixtures may need updating to improve the overall look and functionality of the bathroom.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the appearance of a home and can improve its resale value.
• Rental Update bathroom fixtures — Upgrading the bathroom fixtures can make the home more appealing to renters and can increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are standard and may benefit from a fresh coat of paint or some minor repairs.	Minor	$500–3,000
Bathroom fixtures · The fixtures may need updating to improve the overall look and functionality of the bathroom.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the appearance of a home and can improve its resale value. ↑
• Rental Update bathroom fixtures — Upgrading the bathroom fixtures can make the home more appealing to renters and can increase its rental value. ↑

ⓘ 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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

3 events — show timeline

• 2026-05-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Listed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Coming Soon $325,000 OneKey® MLS as Distributed by MLS Grid