19617 73rd Ave Unit 2nd FL · New York, NY 11365

$205,000

1 bd · 1.0 ba · 700 sqft · Condo · 84 Days on market

Built 1952 Average condition

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Why this score? — see what drove the C+ 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this bright and spacious second floor 1 bedroom, 1 bath corner unit in the desirable Fresh Meadows neighborhood! This home features windows on three exposures (East/South/West), providing excellent natural light throughout the day. Corner unit with abundant natural light. Garage available with no waitlist ($140/month), includes EV charging station. Convenient to ransportation: QM8 express bus right outside, direct to Manhattan. Near parks, school, supermarkets, restaurants, shopping, and AMC movie theater. Cats allowed but no dogs; subletting permitted after 1 year. Maintenance: $1,011.70/month (all utilities included except electricity) Financial Requirements: Minimum income req

Key facts

• Ev charging station
• Near school
• Corner unit

Tags

• CORNER UNIT
• EXCELLENT NATURAL LIGHT
• EV CHARGING STATION
• CONVENIENT TO TRANSPORTATION
• NEAR PARKS
• NEAR SCHOOL

Property features AI

Exterior

• Parking: Assigned parking; Electric vehicle charging station(s); Garage with garage door opener; Off-street parking; Monthly parking fee $140; 1 garage space
• Utilities: Public sewer; Electricity available; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative
• Construction: Brick construction materials; Brick/mortar and concrete perimeter foundation
• Exterior features: Brick construction; No waterfront; No additional parcels

Interior

• Kitchen: Gas oven
• Bedrooms: Entry level on 2
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Other heating; Wall/window cooling units
• Interior features: Wall of windows; Other interior features; Common basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $205k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $193k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 fast (+6.2%/yr); 131 active listings in the ZIP; 8 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 35% of the median local income ($81k/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 $6k 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.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $57k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $192,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.16% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-116
• Equity at exit: $30,566

10-year hold

• IRR: 12.8%
• Equity multiple: 2.18×
• Total profit: $67,505
• Equity at exit: $17,725

Cash invested: $57,400 (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 11365

• Rents YoY: 6.2%
• Active inventory: 131
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,375 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $393

Break-even live

Break-even rent $1,877

Max offer price $205,000

Occupancy floor 78%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	25d	1	0.43mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	25d	1	0.55mi
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	25d	1	0.55mi
178-05 69th Ave Unit 2 Flushing, NY	2.0	1.0	750	$2,700	$3.60	25d	1	0.89mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	1.19mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	25d	1	1.40mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	1.40mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	25d	1	1.41mi

HOA detail condo

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

Listing history 9 events

1. 2026-06-13
   statusdays on market $205,000 Pending 84 DOM
2. 2026-06-10
   days on market $205,000 Active 83 DOM
3. 2026-06-08
   days on market $205,000 Active 82 DOM
4. 2026-06-08
   days on market $205,000 Active 81 DOM
5. 2026-06-04
   days on market $205,000 Active 78 DOM
6. 2026-06-03
   days on market $205,000 Active 77 DOM
7. 2026-06-01
   days on market $205,000 Active 75 DOM
8. 2026-05-31
   days on market $205,000 Active 74 DOM
9. 2026-03-18
   listed $205,000 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $28,499
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,822
• − Repairs & maintenance: −$2,280
• − Management: −$2,280
• − Depreciation: −$5,964
• Taxable income: $1,595
• Est. tax owed @ 24.0%: −$383
• After-tax cash flow: $4,334/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.

Condition & rehab AI · 13 photos

Average 55/100 Cosmetic rehab

This second-floor corner unit in Fresh Meadows requires some cosmetic updates to its kitchen, bathroom, and living areas, but is otherwise in good condition. The property is conveniently located with easy access to transportation and amenities.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Kitchen appliances — Worn appearance
• Minor Bathroom fixtures — Worn appearance
• Minor Living room carpet — Worn appearance
• Minor Interior paint — Faded appearance

Value-add opportunities

• Both New kitchen countertops and appliances — Fresh look and improved functionality
• Both New bathroom fixtures — Enhanced functionality and appearance
• Both New living room carpet — Fresh look and improved comfort
• Both Paint touch-up throughout — Enhanced appearance and improved curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Kitchen appliances · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Worn appearance	Minor	$500–3,000
Living room carpet · Worn appearance	Minor	$500–3,000
Interior paint · Faded appearance	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both New kitchen countertops and appliances — Fresh look and improved functionality ↑
• Both New bathroom fixtures — Enhanced functionality and appearance ↑
• Both New living room carpet — Fresh look and improved comfort ↑
• Both Paint touch-up throughout — Enhanced appearance and improved curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 42,322
• Household income: $81,258
• Rent vs Own: 53.6% rent · 46.4% own
• Severe rent burden: 1876.0

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: Asian 43% White 23% Hispanic / Latino 21% Two or more races 11% Black 11%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Scotch-Irish 4% Romanian 1% Slovak 1%
• Foreign-born: 46% · China, Canada, South Korea
• Languages at home: 41% English-only · Chinese 26% Spanish 13% 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: ▼ -298.48%
• Current HPI: 314.4015
• Rent YoY: ▲ 6.24%
• 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

• 2026-03-18 Listed $205,000 OneKey® MLS as Distributed by MLS Grid