88-01 35th Ave Unit 6D · New York, NY 11372

$175,000

1 bd · 1.0 ba · 700 sqft · Condo · 30 Days on market

Built 1953

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Why this score? — see what drove the B- 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 +25.8/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Appreciation +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

Bring your vision and contractor to this top-floor opportunity at Queens Mary Anne. This rarely available home is a true blank canvas, ready for a complete gut renovation and endless design possibilities. With windows in every room, the apartment is filled with natural light throughout the day, offering the perfect foundation to create your dream home from the ground up. Whether you envision a sleek modern renovation or a restoration of classic pre-war charm, this spacious layout offers incredible potential. Perfect for buyers with vision, creativity, and a desire to make a home entirely their own. Built in 1956, Queen Mary Anne occupies an entire block. All four building facades are beautifully landscaped and well maintained. Conveniently located for transportation, shops, schools, year round farmers market and newly renovated Travers Park. Building amenities include on-site Super, wait-list garage parking, laundry facilities and storage.

Key facts

• Natural light
• Building amenities
• Spacious layout

Tags

• NATURAL LIGHT
• SPACIOUS LAYOUT
• BUILDING AMENITIES

Property features AI

Exterior

• Parking: Garage (building has garage)
• Utilities: Public sewer; Other utilities (see remarks)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Non-waterfront; Brick construction

Interior

• Kitchen: Other appliances (details not provided)
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Finished common basement; 4 total rooms
• Laundry & utility: Washer/dryer info not specified

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 soft (-0.6%/yr); 303 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($79k/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 $1k of loan paydown is wiped out by about $5k 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 30 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-7,214
• Equity at exit: $26,093

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $5,390
• Equity at exit: $15,131

Cash invested: $49,000 (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 11372

• Home prices YoY: -1.5%
• Rents YoY: -0.6%
• Active inventory: 303
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $427

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 74%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	24d	1	0.27mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	18d	1	0.35mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	0.51mi
10006 32nd Ave East Elmhurst, NY	1.0	1.0	500	$2,500	$5.00	10d	1	0.69mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	18d	1	0.78mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	24d	1	0.80mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,750	$6.25	7d	1	0.90mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	24d	1	0.96mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	10d	1	1.38mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $175,000 Active 30 DOM
2. 2026-06-17
   days on market $175,000 Active 29 DOM
3. 2026-06-16
   days on market $175,000 Active 28 DOM
4. 2026-06-15
   days on market $175,000 Active 27 DOM
5. 2026-06-13
   days on market $175,000 Active 25 DOM
6. 2026-06-10
   days on market $175,000 Active 21 DOM
7. 2026-06-08
   days on market $175,000 Active 20 DOM
8. 2026-06-08
   days on market $175,000 Active 19 DOM
9. 2026-06-04
   days on market $175,000 Active 16 DOM
10. 2026-06-03
    days on market $175,000 Active 15 DOM
11. 2026-06-02
    days on market $175,000 Active 14 DOM
12. 2026-06-01
    days on market $175,000 Active 13 DOM
13. 2026-05-31
    days on market $175,000 Active 12 DOM
14. 2026-05-19
    listed $175,000 Active

    Show marketing remark (953 chars)

    Bring your vision and contractor to this top-floor opportunity at Queens Mary Anne. This rarely available home is a true blank canvas, ready for a complete gut renovation and endless design possibilities. With windows in every room, the apartment is filled with natural light throughout the day, offering the perfect foundation to create your dream home from the ground up. Whether you envision a sleek modern renovation or a restoration of classic pre-war charm, this spacious layout offers incredible potential. Perfect for buyers with vision, creativity, and a desire to make a home entirely their own. Built in 1956, Queen Mary Anne occupies an entire block. All four building facades are beautifully landscaped and well maintained. Conveniently located for transportation, shops, schools, year round farmers market and newly renovated Travers Park. Building amenities include on-site Super, wait-list garage parking, laundry facilities and storage.

15. 2026-05-19
    listed $175,000 Active 953-char remark

    Show marketing remark (953 chars)

    Bring your vision and contractor to this top-floor opportunity at Queens Mary Anne. This rarely available home is a true blank canvas, ready for a complete gut renovation and endless design possibilities. With windows in every room, the apartment is filled with natural light throughout the day, offering the perfect foundation to create your dream home from the ground up. Whether you envision a sleek modern renovation or a restoration of classic pre-war charm, this spacious layout offers incredible potential. Perfect for buyers with vision, creativity, and a desire to make a home entirely their own. Built in 1956, Queen Mary Anne occupies an entire block. All four building facades are beautifully landscaped and well maintained. Conveniently located for transportation, shops, schools, year round farmers market and newly renovated Travers Park. Building amenities include on-site Super, wait-list garage parking, laundry facilities and storage.

16. 2014-10-20
    historical
17. 2013-10-21
    listed $125,000
18. 2013-04-18
    historical
19. 2012-04-19
    listed $149,000

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,853
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$5,091
• Taxable income: $2,483
• Est. tax owed @ 24.0%: −$596
• After-tax cash flow: $4,525/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): 64,756
• Household income: $78,606
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4836.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 55% Asian 21% Two or more races 21% White 18% Black 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, China
• Languages at home: 24% English-only · Spanish 51% Other Indo-European 11% Russian/Polish/Slavic 4%

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: ▼ -3.57%
• Current HPI: 239.6404
• Rent YoY: ▼ -0.59%
• 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

+17.4% since first listed

6 events — show timeline

• 2026-05-19 Listed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-19 Listed $175,000 RLS at REBNY
• 2014-10-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-21 Listed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2013-04-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-04-19 Listed $149,000 OneKey® MLS as Distributed by MLS Grid