18-65 211th St Unit 3K · New York, NY 11360

$489,900

3 bd · 2.0 ba · 1,500 sqft · Condo · 25 Days on market

Built 1960

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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 +8.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks

Spacious and inviting LARGEST CORNER 3-bedroom, 2-bath Coop with approximately 1,500 square feet of well-designed living space located in sought-after Bell Apartments is priced for a quick sale. Unbeatable prime location and is situated in the heart of the very convenient Bay Terrace neighborhood. This bright and comfortable residence is NEWLY REFRESHED and has been painted throughout and the wooden floors have all been sanded and polished. New Appliances and extras throughout the apartment. Highlights of the coop include central air conditioning, exceptional closet space, and the option to install an in-unit washer and dryer for added convenience. And of course, a dedicated parking spot

Key facts

• Easy access to lirr
• Parking
• Built 1960

Tags

• CENTRAL AIR CONDITIONING
• EXCEPTIONAL CLOSET SPACE
• DEDICATED PARKING SPOT
• EASY ACCESS TO MAJOR HIGHWAYS
• EASY ACCESS TO LIRR
• EASY ACCESS TO EXPRESS BUSES

Property features AI

Finance

• Other: Living area reported as 1500 (source: Other)
• HOA & community: Association: Bell Apartments Owners Corp; Association amenities include elevator(s), grounds maintenance, parking, playground, and trash service; Additional monthly fee: $35 for parking

Exterior

• Parking: Assigned off-street parking in a parking lot; 1 parking space; Monthly parking fee of $35
• Utilities: Electric service by Con-Edison; Public sewer; Cable available; Electricity connected; Natural gas connected; Water connected
• Home design: Stock cooperative; 6-story building; Entry level is 3rd floor; Front-facing exposure
• Construction: Brick construction
• Exterior features: Brick exterior; Bicycle room; Not waterfront; Front-facing unit (between 3rd and 5th floors); Park and playground nearby

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Located on entry level (3rd floor)
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Central air conditioning
• Interior features: Elevator; Entrance foyer; Primary bathroom; Walk-through kitchen; Walk-in closet(s); No basement; Updated/remodeled condition; 6 total rooms
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $490k.

Deal economics

• At list price, monthly cash flow is $-480 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $368k (24.9% below list).
• Recommended offer: $368k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: 219 active listings in the ZIP; 10 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 45% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($3k loan paydown + $16k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($483k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $367,848 (24.9% 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 1960 — 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: 0.75% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.26×
• Total profit: $35,287
• Equity at exit: $227,473

10-year hold

• IRR: 7.5%
• Equity multiple: 2.17×
• Total profit: $160,286
• Equity at exit: $356,261

Cash invested: $137,172 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,678 high
• Mortgage (P&I): −$2,569
• Tax est. 1.5%: −$612 /mo · $7,348/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$772
• Net cashflow: $-480

Break-even live

Break-even rent $4,286

Max offer price $420,503

Occupancy floor —

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15-47 209th St #2 Flushing, NY	3.0	2.0	1250	$3,800	$3.04	24d	1	0.27mi
14-21 Bell Blvd Unit 2 Flushing, NY	3.0	2.0	1250	$3,600	$2.88	15d	1	0.45mi
16606 Willets Point Blvd Whitestone, NY	2.0	1.0	2127	$3,075	$1.45	24d	1	0.84mi
27-30 Francis Lewis Blvd Unit 2nd FLOOR Flushing, NY	4.0	1.0	1100	$3,150	$2.86	12d	1	0.97mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	24d	1	1.04mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	1.10mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	3d	1	1.31mi
207-07 42nd Ave Unit 2 Flushing, NY	2.0	2.0	1395	$3,900	$2.80	3d	1	1.36mi
42-04 216th St Unit 2 Bayside, NY	3.0	2.0	1250	$3,200	$2.56	18d	1	1.46mi
15425 13th Ave Whitestone, NY	3.0	2.5	1620	$6,000	$3.70	24d	1	1.48mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $489,900 Active 25 DOM
2. 2026-06-17
   days on market $489,900 Active 24 DOM
3. 2026-06-16
   days on market $489,900 Active 23 DOM
4. 2026-06-15
   days on market $489,900 Active 22 DOM
5. 2026-06-13
   days on market $489,900 Active 20 DOM
6. 2026-06-10
   days on market $489,900 Active 16 DOM
7. 2026-06-08
   days on market $489,900 Active 15 DOM
8. 2026-06-08
   days on market $489,900 Active 14 DOM
9. 2026-06-04
   days on market $489,900 Active 11 DOM
10. 2026-06-03
    days on market $489,900 Active 10 DOM
11. 2026-06-02
    days on market $489,900 Active 9 DOM
12. 2026-06-01
    days on market $489,900 Active 8 DOM
13. 2026-05-31
    days on market $489,900 Active 7 DOM
14. 2026-05-23
    listed $489,900 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 ≥98°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: $44,142
• − Mortgage interest: −$27,442
• − Property taxes: −$7,348
• − Insurance: −$2,450
• − Repairs & maintenance: −$3,531
• − Management: −$3,531
• − Depreciation: −$14,252
• Taxable loss: −$14,413
• Est. tax savings @ 24.0%: +$3,459
• After-tax cash flow: $-2,296/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

1 event — show timeline

• 2026-05-23 Listed $489,900 OneKey® MLS as Distributed by MLS Grid