136-05 Sanford Ave Unit 3D · New York, NY 11355

$340,000

1 bd · 1.0 ba · 600 sqft · Condo · 112 Days on market

Built 1929 ↓ 2% 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).

• Cash flow +9.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Located in the Heart of Flushing –1bed Coop! Only 1-minute walk to the post office, supermarket, and library. Just 5-minute walk to the subway – unbeatable location for daily life and commuting! Approx. 600 sq. ft. of practical space. Smartly converted to 2 bedrooms for maximum functionality. Bathroom with window – great ventilation and natural light. Maintenance only $780/month (includes water & heat; excludes electricity & gas). Surrounded by everything you need – shops, schools, restaurants, and more. Perfect for self-use or rental investment

Key facts

• Surrounded by shops
• Bathroom with window
• Built 1929

Tags

• 1 MINUTE WALK TO POST OFFICE
• 5 MINUTE WALK TO SUBWAY
• CONVERTED TO 2 BEDROOMS
• BATHROOM WITH WINDOW
• SURROUNDED BY SHOPS
• SURROUNDED BY SCHOOLS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (22.5% below list).
• Recommended offer: $264k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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.
• Zoned schools: Ps 20 John Bowne (math 58% / reading 55%, grade C+, #899 of 2,108 statewide, top 43%, 1,033 students, 87% 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 (+3.9%/yr); 408 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,635/mo this rent would consume 57% of the median local household income ($55k/yr) (locally 6765% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $263,533 (22.5% 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 112 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.38%
• DSCR: 0.85
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.09% appreciation · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.93×
• Total profit: $-6,685
• Equity at exit: $117,646

10-year hold

• IRR: 4.1%
• Equity multiple: 1.51×
• Total profit: $48,467
• Equity at exit: $157,567

Cash invested: $95,200 (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 11355

• Home prices YoY: 0.4%
• Rents YoY: 3.9%
• Active inventory: 408
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,635 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-268

Break-even live

Break-even rent $2,974

Max offer price $301,256

Occupancy floor —

Sensitivity live

Price	-10% $-33	-5% $-150	+0% $-268	+5% $-385	+10% $-503
Rent	-10% $-476	-5% $-372	+0% $-268	+5% $-164	+10% $-60
Rate	-1.0pp $-97	-0.5pp $-181	base $-268	+0.5pp $-356	+1.0pp $-445

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13680 41st Ave Unit 7D Flushing, NY	—	1.0	428	$2,650	$6.19	7d	1	0.14mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	27d	1	0.16mi
13434 Franklin Ave Unit 4E Flushing, NY	1.0	1.0	477	$2,800	$5.87	4d	1	0.23mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	18d	2	0.25mi
132-30 Sanford Ave Unit 4Af Queens, NY	1.0	1.0	470	$2,300	$4.89	27d	1	0.25mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	6d	1	0.29mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	7d	1	0.29mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	27d	1	0.30mi
14065 Beech Ave Unit 6J Flushing, NY	—	1.0	366	$2,000	$5.46	8d	1	0.33mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	27d	1	0.34mi
13208 Pople Ave Unit 4A Flushing, NY	1.0	1.0	650	$2,500	$3.85	27d	1	0.35mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	6d	1	0.36mi
13336 37th Ave Unit 3K Flushing, NY	—	1.0	500	$3,200	$6.40	27d	1	0.37mi
13675 37th Ave Unit 3H Flushing, NY	1.0	1.0	750	$3,500	$4.67	2d	1	0.37mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	21d	3	0.46mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$3,675	$4.82	6d	3	0.46mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	27d	1	0.46mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	14d	1	0.47mi
3532 Leavitt St Unit 11I Flushing, NY	—	1.0	422	$2,900	$6.87	7d	1	0.50mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	27d	1	0.54mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	27d	1	0.56mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	18d	1	0.60mi
3371 Prince St Unit 13L Flushing, NY	1.0	1.0	452	$2,800	$6.19	27d	1	0.60mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	18d	1	0.60mi
140-16 34th Ave Unit 412 Flushing, NY	—	1.0	600	$2,250	$3.75	8d	1	0.65mi
140-16 34th Ave Unit 308 Flushing, NY	—	1.0	600	$2,250	$3.75	27d	1	0.65mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	21d	1	0.75mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	4d	1	0.75mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	10d	1	0.84mi
149-35 Northern Blvd Unit 4Z Flushing, NY	—	1.0	500	$1,800	$3.60	21d	1	0.85mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	21d	1	0.87mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	5d	2	0.92mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	4d	1	0.93mi
4531 163rd St Unit 1 Flushing, NY	1.0	1.0	600	$2,250	$3.75	10d	1	1.29mi

HOA detail condo

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

Listing history 3 events

1. 2025-11-25
   status Pending
2. 2025-10-30
   price $340,000
3. 2025-08-05
   listed $348,000 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 6/10 Major FEMA zone X (unshaded) · 27% 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: $31,624
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,530
• − Management: −$2,530
• − Depreciation: −$9,891
• Taxable loss: −$9,172
• Est. tax savings @ 24.0%: +$2,201
• After-tax cash flow: $-1,012/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): 80,801
• Household income: $55,326
• Rent vs Own: 66.6% rent · 33.4% own
• Severe rent burden: 6765.0

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: Predominantly Asian (75%)
• Race & ethnicity: Asian 75% Hispanic / Latino 14% White 7% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 72% · China, Canada, South Korea
• Languages at home: 16% English-only · Chinese 58% Spanish 12% Other Indo-European 6%

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: ▲ 1.09%
• Current HPI: 253.1482
• Rent YoY: ▲ 3.93%
• 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

-2.3% since first listed

3 events — show timeline

• 2025-11-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $340,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-05 Listed $348,000 OneKey® MLS as Distributed by MLS Grid