144-55 Melbourne Ave Unit 3J · New York, NY 11367

$142,500

1 bd · 1.0 ba · 700 sqft · Condo · 350 Days on market

Built 1954 ↓ 5% since listing

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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).

• 1% rule +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * Owner Occupied, No Subletting * * * Bright 1 Bedroom And 1 Bathroom Coop Unit, Southern Exposure Lot Closets, Maintenance Includes All Utilities ( Heat, Hot water, Gas, Electric and property tax), indoor/outdoor Parking available ( short waiting list), Playground, Storage, Are Available. Sale May Be Subject To the Terms and Conditions Of An Offering Plan, All Transportation is convenient, Buses(Q44 & Q20), Easy Access To Lie, Close To Queens College, Supermarkets, Etc. All Information Deemed Accurate However Should Be Independently Verified.

Key facts

• Garage
• Built 1954
• Listed 350 days

🏢 Co-op / cooperative unit. The $142,500 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $142k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% 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: 260 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 38% of the median local income ($75k/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 $985 of loan paydown is wiped out by about $4k 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 350 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent; 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 $125,400 (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 350 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 1954 — 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: 1.67% ✓
• Cap rate: 5.55%
• Cash-on-cash: -2.65%
• DSCR: 0.88
• GRM: 5.0

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: -20.1%
• Equity multiple: 0.30×
• Total profit: $-28,051
• Equity at exit: $21,247

10-year hold

• IRR: -12.0%
• Equity multiple: 0.27×
• Total profit: $-29,029
• Equity at exit: $12,321

Cash invested: $39,900 (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 11367

• Active inventory: 260
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,386 high
• Mortgage (P&I): −$747
• Tax est. 1.5%: −$178 /mo · $2,138/yr
• Insurance: −$59
• HOA est. from 1 same-building comp: −$988
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-88

Break-even live

Break-even rent $2,497

Max offer price $129,769

Occupancy floor 99%

Sensitivity live

Price	-10% $10	-5% $-39	+0% $-88	+5% $-137	+10% $-186
Rent	-10% $-276	-5% $-182	+0% $-88	+5% $6	+10% $101
Rate	-1.0pp $-16	-0.5pp $-52	base $-88	+0.5pp $-125	+1.0pp $-162

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.59mi
163-07 72nd Ave Unit 2G Flushing, NY	1.0	1.0	402	$2,000	$4.98	25d	1	1.00mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	25d	1	1.00mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	7d	1	1.12mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	25d	1	1.13mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	1.14mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	1.14mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	23d	1	1.28mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	415	$2,100	$5.06	0d	1	1.28mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	5d	1	1.28mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	15d	1	1.30mi
13434 Franklin Ave Unit 4E Flushing, NY	1.0	1.0	477	$2,800	$5.87	2d	1	1.32mi
13208 Pople Ave Unit 4A Flushing, NY	1.0	1.0	650	$2,500	$3.85	25d	1	1.33mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	1.34mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	1.34mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	5d	1	1.36mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	25d	1	1.37mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	1.41mi
14065 Beech Ave Unit 6J Flushing, NY	—	1.0	366	$2,000	$5.46	7d	1	1.42mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	1.44mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	1.44mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	25d	1	1.44mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	5d	1	1.45mi
132-30 Sanford Ave Unit 4Af Queens, NY	1.0	1.0	470	$2,300	$4.89	25d	1	1.45mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	1.46mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	25d	1	1.48mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	1.48mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	25d	1	1.50mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	20d	1	1.50mi

HOA detail condo

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

Listing history 6 events

1. 2026-03-09
   status Pending
2. 2025-07-21
   price $142,500
3. 2025-03-24
   listed $150,000 Active
4. 2025-01-13
   status Pending
5. 2025-01-13
   historical
6. 2024-03-14
   listed $150,000 Active

ⓘ 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 ≥99°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: $28,630
• − Mortgage interest: −$7,982
• − Property taxes: −$2,138
• − Insurance: −$712
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − HOA: −$11,856
• − Depreciation: −$4,145
• Taxable loss: −$2,785
• Est. tax savings @ 24.0%: +$668
• After-tax cash flow: $-387/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• 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

-5.0% since first listed

6 events — show timeline

• 2026-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $142,500 OneKey® MLS as Distributed by MLS Grid
• 2025-03-24 Listed $150,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-14 Listed $150,000 OneKey® MLS as Distributed by MLS Grid