83-25 98th St Unit 2C · New York, NY 11421

$259,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 75 Days on market

Built 1954

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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 +10.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Development In Queens , Surrounded On Three Sides By Forest Park. O Low Maintenance Includes All Utilities O Close To Golf, Tennis, Running Track, Cross Country Trails, Bicycle Trails O Near To Train, Buses, Schools . O 100% Owner Occupied WALL TO WALL CARPETING WITH PADDING IS MANDATORY! or sound proofing floor, Additional information:Features:Lr/Dr

Key facts

• Near to train
• Close to golf
• Close to tennis

Tags

• CLOSE TO GOLF
• CLOSE TO TENNIS
• CLOSE TO RUNNING TRACK
• CLOSE TO CROSS COUNTRY TRAILS
• CLOSE TO BICYCLE TRAILS
• NEAR TO TRAIN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $243k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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: 138 active listings in the ZIP; 38 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 41% of the median local income ($91k/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 $8k 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 75 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 49% 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 $243,460 (6.0% 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 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 5.65%
• Cash-on-cash: -2.28%
• DSCR: 0.90
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.8%
• Equity multiple: 0.31×
• Total profit: $-50,239
• Equity at exit: $38,618

10-year hold

• IRR: -12.2%
• Equity multiple: 0.27×
• Total profit: $-52,959
• Equity at exit: $22,394

Cash invested: $72,520 (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 11421

• Active inventory: 138
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,062 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA est. from 2 same-building comps: −$767
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $-138

Break-even live

Break-even rent $3,237

Max offer price $239,036

Occupancy floor 100%

Sensitivity live

Price	-10% $41	-5% $-48	+0% $-138	+5% $-227	+10% $-317
Rent	-10% $-380	-5% $-259	+0% $-138	+5% $-17	+10% $104
Rate	-1.0pp $-8	-0.5pp $-72	base $-138	+0.5pp $-205	+1.0pp $-273

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-40 98th St Unit 2FL Woodhaven, NY	3.0	2.0	1200	$3,300	$2.75	21d	1	0.08mi
8456 98th St Woodhaven, NY	1.0	1.0	1092	$2,500	$2.29	11d	1	0.09mi
88-39 82nd Ave Unit 1 Flushing, NY	3.0	1.0	1150	$3,850	$3.35	25d	1	0.42mi
85-20 85th Rd Unit 2nd Floor Jamaica, NY	3.0	1.0	1100	$3,200	$2.91	19d	1	0.54mi
94-17 90th Ave Unit 2nd Floor Jamaica, NY	3.0	2.0	1040	$3,000	$2.88	8d	1	0.62mi
88-23 85th St Unit 1L Jamaica, NY	3.0	1.0	1000	$3,300	$3.30	25d	1	0.78mi
78-68 84th St Unit 2 Flushing, NY	2.0	1.0	800	$3,500	$4.38	25d	1	0.78mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,750	$3.44	3d	1	0.87mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	5d	2	0.87mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	25d	1	0.94mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	25d	1	0.95mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	15d	1	0.98mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$3,200	$3.56	25d	2	0.98mi
76-09 88th Ave Unit 1 Woodhaven, NY	3.0	2.0	960	$3,700	$3.85	20d	1	1.01mi
88-18 77th St Unit 2 Jamaica, NY	3.0	1.0	913	$3,295	$3.61	25d	1	1.03mi
90-18 77th St Unit 2 Jamaica, NY	3.0	1.0	913	$3,295	$3.61	25d	1	1.12mi
97-56 105th St #2 Ozone Park, NY	3.0	2.0	1000	$3,811	$3.81	25d	1	1.13mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	25d	1	1.13mi
67-49 Juno St Unit 1 Flushing, NY	3.0	2.0	1400	$4,500	$3.21	5d	1	1.17mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	21d	2	1.19mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	0d	2	1.19mi
67-12 Juno St Unit Duplex Flushing, NY	3.0	2.0	1400	$4,500	$3.21	25d	1	1.19mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	25d	1	1.20mi
91-04 75th St Unit 2 Jamaica, NY	3.0	1.0	800	$3,700	$4.62	25d	1	1.25mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	25d	1	1.26mi
8711 123rd St Richmond Hill, NY	3.0	1.0	1000	$3,000	$3.00	4d	1	1.26mi
12401 Hillside Ave Richmond Hill, NY	2.0	1.0	800	$2,700	$3.38	0d	1	1.27mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	25d	1	1.27mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,600	$3.09	0d	1	1.32mi
8329 Talbot St Kew Gardens, NY	3.0	2.0	1300	$2,800	$2.15	25d	1	1.36mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	19d	1	1.39mi
68-36 Burns St Unit B4 Flushing, NY	2.0	1.0	1250	$3,800	$3.04	25d	1	1.44mi
65-68 Ellwell Cres Unit 2 Flushing, NY	3.0	1.0	900	$3,800	$4.22	25d	1	1.45mi
108-25 72nd Ave Unit 6B Flushing, NY	2.0	1.0	800	$3,900	$4.88	0d	1	1.46mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,900	$5.57	5d	2	1.47mi
10541 90th St Ozone Park, NY	3.0	2.0	1264	$4,111	$3.25	25d	1	1.47mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	25d	1	1.49mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	1.49mi

HOA detail condo

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

Listing history 2 events

1. 2025-11-04
   status Pending
2. 2025-08-21
   listed $259,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,743
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,939
• − Management: −$2,939
• − HOA: −$9,204
• − Depreciation: −$7,535
• Taxable loss: −$5,562
• Est. tax savings @ 24.0%: +$1,335
• After-tax cash flow: $-321/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): 40,612
• Household income: $90,685
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1540.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 56% Two or more races 24% Asian 20% White 13% Black 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 9% Dominican 18%
• Common ancestry: Romanian 2%
• Foreign-born: 52% · Canada, China, Jamaica
• Languages at home: 30% English-only · Spanish 46% Chinese 9% Other Indo-European 7%

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: ▼ -409.05%
• Current HPI: 298.1143
• 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

2 events — show timeline

• 2025-11-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-21 Listed $259,000 OneKey® MLS as Distributed by MLS Grid