120-10 85 Ave Unit 2j · New York, NY 11415

$248,888

1 bd · 1.0 ba · 880 sqft · Condo · 163 Days on market

Built 1951

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

If you're looking for a place to make your own forever or a fabulous long term investment this unit is for you; as it does allow subletting forever after just a few short years! This HUGE corner unit one bedroom apartment boasting fabulous sunlight and windows in every room, extremely well maintained. This gorgeous apartment has magnificent closet space as well a KING SIZE bedroom. This amazing pre-war building is wheelchair accessible and centrally located and convenient to everything shopping, schools, restaurants and transportation (both bus and train) . This building is an absolute gem and located on a residential street, giving the feel of the suburbs while in the heart of Queens. The

Key facts

• Centrally located
• Natural light
• Residential street

Tags

• MAGNIFICENT CLOSET SPACE
• NATURAL LIGHT
• CENTRALLY LOCATED
• RESIDENTIAL STREET

Property features AI

Finance

• HOA & community: Association fee includes heat, hot water and water

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Electricity available; Natural gas connected; Phone available; Water available and connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Near public transit; Near shops; Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: Entry level: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: High ceilings; One-level living; Common area laundry; Cats allowed
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $-494 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.9% 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: Rents rising (+1.4%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 ($86k/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 $7k 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 163 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 52% 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 $219,021 (12.0% 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 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.01% ✓
• Cap rate: 3.91%
• Cash-on-cash: -8.51%
• DSCR: 0.62
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -34.0%
• Equity multiple: -0.08×
• Total profit: $-75,409
• Equity at exit: $37,110

10-year hold

• IRR: -60.3%
• Equity multiple: -0.73×
• Total profit: $-120,428
• Equity at exit: $21,519

Cash invested: $69,689 (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 11415

• Rents YoY: 1.4%
• Active inventory: 133
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,508 high
• Mortgage (P&I): −$1,305
• Tax est. 1.5%: −$311 /mo · $3,733/yr
• Insurance: −$104
• HOA est. from 3 same-building comps: −$756
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-494

Break-even live

Break-even rent $3,134

Max offer price $177,359

Occupancy floor —

Sensitivity live

Price	-10% $-322	-5% $-408	+0% $-494	+5% $-580	+10% $-666
Rent	-10% $-692	-5% $-593	+0% $-494	+5% $-395	+10% $-296
Rate	-1.0pp $-369	-0.5pp $-431	base $-494	+0.5pp $-559	+1.0pp $-624

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: $62,222
• Closing costs: $7,467
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	25d	1	0.15mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	25d	1	0.16mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$2,600	$2.89	25d	2	0.19mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	15d	1	0.19mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	25d	1	0.19mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	25d	1	0.20mi
12401 Hillside Ave Richmond Hill, NY	2.0	1.0	800	$2,700	$3.38	0d	1	0.21mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	25d	1	0.22mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	14d	1	0.22mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	0.23mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	25d	1	0.23mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	6d	2	0.24mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	25d	1	0.25mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,600	$3.25	0d	1	0.26mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	25d	1	0.36mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	25d	1	0.38mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	25d	1	0.61mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	0.61mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	25d	1	0.65mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	25d	1	0.75mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	20d	1	0.75mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	25d	1	0.75mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	9d	1	0.75mi
123-08 95th Ave Unit 2 South Richmond Hill, NY	2.0	1.5	1000	$2,400	$2.40	25d	1	0.78mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	6d	1	0.94mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	25d	1	0.94mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,600	$3.09	0d	1	0.96mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	22d	1	1.00mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	15d	1	1.02mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	25d	1	1.08mi
8456 98th St Woodhaven, NY	1.0	1.0	1092	$2,500	$2.29	11d	1	1.09mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	20d	1	1.11mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	22d	2	1.14mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	0d	2	1.14mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	20d	1	1.15mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	18d	1	1.19mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	3d	1	1.19mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	20d	1	1.23mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	1.24mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	1.27mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $248,888 Active 163 DOM
2. 2026-06-18
   days on market $248,888 Active 160 DOM
3. 2026-06-17
   days on market $248,888 Active 159 DOM
4. 2026-06-15
   days on market $248,888 Active 157 DOM
5. 2026-06-13
   days on market $248,888 Active 155 DOM
6. 2026-06-10
   days on market $248,888 Active 151 DOM
7. 2026-06-08
   days on market $248,888 Active 150 DOM
8. 2026-06-04
   days on market $248,888 Active 146 DOM
9. 2026-06-03
   days on market $248,888 Active 145 DOM
10. 2026-06-01
    days on market $248,888 Active 143 DOM
11. 2026-06-01
    days on market $248,888 Active 142 DOM
12. 2026-02-23
    price $248,888
13. 2026-01-06
    listed $270,000 Active
14. 2023-06-01
    historical
15. 2019-12-13
    historical
16. 2019-12-10
    listed $1,600 New

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% 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: $30,102
• − Mortgage interest: −$13,942
• − Property taxes: −$3,733
• − Insurance: −$1,244
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − HOA: −$9,072
• − Depreciation: −$7,240
• Taxable loss: −$9,946
• Est. tax savings @ 24.0%: +$2,387
• After-tax cash flow: $-3,545/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): 21,154
• Household income: $86,394
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1615.0

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 0.71)
• Race & ethnicity: White 43% Hispanic / Latino 25% Asian 20% Two or more races 11% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Scotch-Irish 6% Romanian 5% Scandinavian 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 18% Other Indo-European 12% Russian/Polish/Slavic 10%

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: ▼ -155.23%
• Current HPI: 184.7643
• Rent YoY: ▲ 1.35%
• 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

+15455.5% since first listed

5 events — show timeline

• 2026-02-23 Price Changed $248,888 OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Listed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-01 Rental Removed — ONEKEY
• 2019-12-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-12-10 Listed $1,600 OneKey® MLS as Distributed by MLS Grid