151-05 Cross Island Pkwy Unit 2C · New York, NY 11357

$289,000

1 bd · 1.0 ba · 800 sqft · Condo · 3 Days on market

Built 1965

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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
• Schools +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Cash flow +2.8/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1 Bedroom, 1 Bathroom Coop In The Heart Of Whitestone, Queens. This Unit Has An Over Sized Living Room And Dining Room With A Gally Kitchen Including A Stainless Steel Stove. There Are Beautiful Wood Floors Throughout And Extra Large Closets For Storage.It Is Located On The Second Floor & Has An Elevator. Also,There Is A Storage Room And Laundry Room On First Floor. Nearby Shopping, Restaurants, And Transportation Including The Express Bus To Manhattan Right In Front Of The Building!, Additional information: Interior Features:Lr/Dr

Key facts

• Updated appliances
• Spacious kitchen
• Elevator building

Tags

• ELEVATOR BUILDING
• SPACIOUS KITCHEN
• UPDATED APPLIANCES
• GENEROUS CABINET STORAGE
• PLENTY OF COUNTER SPACE
• PLENTY OF CLOSET SPACE

Property features AI

Finance

• HOA & community: Association: Dewitt Lewis

Exterior

• Parking: Private garage (1 space); Parking fee of $175
• Utilities: Public sewer; Cable available and connected; Electricity connected; Water connected; Private trash collection
• Home design: Stock cooperative; One level; Entry level: 2
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Convection oven; Dishwasher; Gas range; Refrigerator; Stainless steel appliances
• Bedrooms: Rooms total: 4
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Formal dining area; Open floorplan; Pantry; Smart thermostat; Storage
• Laundry & utility: Common area laundry; Basement laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $-961 ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (11.8% below list).
• Recommended offer: $255k (11.8% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+3.4%/yr); 291 active listings in the ZIP; 10 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 32% of the median local income ($97k/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 $9k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $226k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• 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 $254,825 (11.8% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.88% ✗
• Cap rate: 2.30%
• Cash-on-cash: -14.25%
• DSCR: 0.37
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -42.1%
• Equity multiple: -0.31×
• Total profit: $-106,349
• Equity at exit: $43,091

10-year hold

• IRR: -63.1%
• Equity multiple: -1.03×
• Total profit: $-164,465
• Equity at exit: $24,987

Cash invested: $80,920 (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 11357

• Rents YoY: 3.4%
• Active inventory: 291
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,548 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA est. from 1 same-building comp: −$977
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-961

Break-even live

Break-even rent $3,765

Max offer price $149,928

Occupancy floor —

Sensitivity live

Price	-10% $-761	-5% $-861	+0% $-961	+5% $-1,061	+10% $-1,161
Rent	-10% $-1,162	-5% $-1,062	+0% $-961	+5% $-860	+10% $-760
Rate	-1.0pp $-816	-0.5pp $-888	base $-961	+0.5pp $-1,036	+1.0pp $-1,112

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 154th St Whitestone, NY	2.0	1.0	900	$3,300	$3.67	26d	1	0.44mi
151-07 7th Ave Unit 2FL Flushing, NY	2.0	1.0	850	$2,900	$3.41	1d	1	0.61mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	20d	1	0.63mi
15019 26th Ave Flushing, NY	2.0	1.0	850	$2,800	$3.29	26d	1	0.89mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	23d	1	0.93mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	26d	1	1.19mi
2621 Union St Flushing, NY	1.0	1.0	800	$1,800	$2.25	20d	1	1.24mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	3d	1	1.44mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	4d	2	1.44mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	20d	1	1.48mi

HOA detail condo

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

Listing history 3 events

1. 2026-06-21
   days on market $289,000 Coming Soon 3 DOM
2. 2026-06-18
   remarks 577-char remark
3. 2026-06-18
   listed $289,000 Coming Soon 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 ≥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: $30,579
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,446
• − Management: −$2,446
• − HOA: −$11,724
• − Depreciation: −$8,407
• Taxable loss: −$16,413
• Est. tax savings @ 24.0%: +$3,939
• After-tax cash flow: $-7,594/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): 43,346
• Household income: $96,988
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 1296.0

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 0.61)
• Race & ethnicity: White 55% Asian 25% Hispanic / Latino 14% Two or more races 8% Native American 1%
• Hispanic origin (detail): Puerto Rican 2% Dominican 3%
• Common ancestry: Romanian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 35% · China, Canada, South Korea
• Languages at home: 50% English-only · Other Indo-European 14% Chinese 14% Spanish 12%

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: ▼ -810.81%
• Current HPI: 285.5469
• Rent YoY: ▲ 3.41%
• 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

+25.7% since first listed

4 events — show timeline

• 2026-06-18 Coming Soon $289,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-21 Sold (MLS) $226,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-11-16 Listed $230,000 OneKey® MLS as Distributed by MLS Grid