264-17 73rd. Ave Unit E-2 · New York, NY 11004

$384,900

2 bd · 1.0 ba · 766 sqft · Condo · 1 Days on market

Built 1950 Good condition

---

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 +12.5/30.0
• 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 +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large 2 Bedroom Upper "E" set in beautiful garden courtyard, Private entry, Remodeled kitchen with eating peninsula and 2 windows, Large living/dining area, Laundry closet off bath with washer and dryer, Redone bath, Large primary bedroom with large slider closet, 3 air conditioners, Pull-down stairs to large storage attic.

Key facts

• Eating peninsula
• Garden courtyard
• Remodeled kitchen

Tags

• GARDEN COURTYARD
• PRIVATE ENTRY
• REMODELED KITCHEN
• EATING PENINSULA
• LARGE LIVING DINING AREA
• LAUNDRY CLOSET

Property features AI

Exterior

• Parking: Off-street private parking lot
• Utilities: Electricity connected (Con Edison); Natural gas connected; Public sewer; Water connected; Private trash collection
• Home design: Stock cooperative; Entry level is first floor; Two total stories
• Construction: Brick construction; Attic with pull-down stairs and storage; No basement
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Total rooms: 4; Entry level: 1; Two-story building
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/window air conditioning units
• Interior features: Additional interior features (other)
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $385k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-55 ($-659/yr) — negative.
• To cash-flow at today's rent, offer at most $377k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (14.3% below list).
• Recommended offer: $330k (14.3% 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: 82 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $329,748 (14.3% 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. Built in 1950 — 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. 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?
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: 0.86% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 9.7

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-65,820
• Equity at exit: $57,390

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-61,619
• Equity at exit: $33,279

Cash invested: $107,772 (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 11004

• Active inventory: 82
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,297 high
• Mortgage (P&I): −$2,018
• Tax est. 1.5%: −$481 /mo · $5,774/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $-55

Break-even live

Break-even rent $3,367

Max offer price $376,949

Occupancy floor 97%

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: $96,225
• Closing costs: $11,547
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7608 269th St New Hyde Park, NY	3.0	2.0	1031	$4,500	$4.36	1d	1	0.47mi
253-15 60th Ave Unit 2nd Floor Flushing, NY	3.0	2.0	1100	$3,500	$3.18	3d	1	0.67mi
245-63 61st Ave Unit 1FL Flushing, NY	3.0	2.0	1000	$3,000	$3.00	24d	1	0.83mi
48 79th Ave New Hyde Park, NY	3.0	2.0	1109	$4,500	$4.06	44d	1	0.87mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	19d	1	0.89mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	25d	1	0.90mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	25d	1	0.92mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	25d	1	1.14mi
85-16 Little Neck Pkwy #1 Queens, NY	2.0	1.0	865	$2,750	$3.18	15d	1	1.42mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-17
   remarks 325-char remark
2. 2026-06-17
   listed $384,900 Active 1 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 ≥97°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,570
• − Mortgage interest: −$21,560
• − Property taxes: −$5,774
• − Insurance: −$1,924
• − Repairs & maintenance: −$3,166
• − Management: −$3,166
• − Depreciation: −$11,197
• Taxable loss: −$7,217
• Est. tax savings @ 24.0%: +$1,732
• After-tax cash flow: $1,073/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 townhouse in a beautiful garden setting offers a good starting point for potential buyers or renters, with minor touch-ups and maintenance to enhance its value.

Value-add opportunities

• Both Paint freshening — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and adds value.
• Both HVAC service — A functional HVAC system ensures comfort and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint freshening — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and adds value. ↑
• Both HVAC service — A functional HVAC system ensures comfort 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
• City population: 7,731,280
• Population (ZIP): 14,296

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 0.65)
• Race & ethnicity: Asian 52% White 27% Hispanic / Latino 10% Two or more races 6% Black 6%
• Hispanic origin (detail): Puerto Rican 4% Salvadoran 1%
• Common ancestry: Romanian 2% Scotch-Irish 1% Danish 1%
• Foreign-born: 47% · Canada, China, South Korea
• Languages at home: 45% English-only · Other Indo-European 25% Other Asian/Pacific 10% Spanish 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: ▼ -218.37%
• Current HPI: 162.6149
• Rent YoY: —
• Metro: —
• 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

• 2026-06-17 Listed $384,900 OneKey® MLS as Distributed by MLS Grid