87-70 173rd St Unit 5E · New York, NY 11432

$234,000

2 bd · 1.0 ba · 850 sqft · Condo · 189 Days on market

Built 1962

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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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully Renovated 2 Bedroom, Living/Dining, Kitchen, Laundry Room (Basement), Security Camera, Express Buses, Few Blocks To F Train (Subway), Shopping Center, Restaurant And Much More. Price To Sell. Location! Location!! Location!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Walk to subways
• Super market
• Restaurants

Tags

• WALK TO SUBWAYS
• SUPER MARKET
• RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $234k.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Recommended offer: $206k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: Rents flat; 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,896/mo this rent would consume 47% of the median local household income ($74k/yr) (locally 4385% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 189 days — a 12% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 7 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.
• Current owner paid $141k; list at $234k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% 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 $205,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.24% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.28%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,567
• Equity at exit: $34,890

10-year hold

• IRR: 6.5%
• Equity multiple: 1.44×
• Total profit: $28,669
• Equity at exit: $20,232

Cash invested: $65,520 (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 11432

• Rents YoY: 0.8%
• Active inventory: 197
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,896 high
• Mortgage (P&I): −$1,227
• Tax est. 1.5%: −$292 /mo · $3,510/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $671

Break-even live

Break-even rent $2,047

Max offer price $234,000

Occupancy floor 72%

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8712 175th St Unit 6B Jamaica, NY	2.0	2.0	876	$3,000	$3.42	24d	1	0.06mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.18mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.21mi
177-30 Wexford Ter Apt 806 Jamaica, NY	2.0	1.0	1090	$3,400	$3.12	15d	1	0.21mi
177-30 Wexford Ter Unit 802 Jamaica, NY	2.0	1.0	900	$3,300	$3.67	3d	1	0.21mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	3d	1	0.21mi
177-30 Wexford Ter Unit 603 Jamaica, NY	2.0	1.0	800	$3,300	$4.12	24d	1	0.21mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	3d	1	0.21mi
177-30 Wexford Ter Unit 502 Jamaica, NY	2.0	1.0	1100	$3,270	$2.97	12d	1	0.21mi
90-48 171st St Jamaica, NY	2.0	1.0	1000	$2,750	$2.75	24d	1	0.23mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	24d	1	0.25mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	10d	1	0.25mi
17218 Jamaica Ave Unit 3D Jamaica, NY	1.0	1.0	638	$2,900	$4.55	18d	1	0.25mi
17218 Jamaica Ave Unit 4D Jamaica, NY	1.0	1.0	638	$2,900	$4.55	24d	1	0.25mi
17218 Jamaica Ave Unit 501 Jamaica, NY	2.0	2.0	939	$3,300	$3.51	24d	1	0.25mi
84-73 168th Pl Unit 2nd floor Jamaica, NY	3.0	2.0	1000	$3,200	$3.20	19d	1	0.40mi
103-20 168th Pl Unit 2nd floor Jamaica, NY	3.0	1.0	1000	$2,900	$2.90	24d	1	0.61mi
88-56 162nd St Apt 2D Jamaica, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.62mi
105-17 170th St Unit 1 Jamaica, NY	3.0	2.0	850	$3,200	$3.76	24d	1	0.69mi
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	19d	1	0.73mi
15501 90th Ave Unit 3R Jamaica, NY	1.0	1.0	950	$2,100	$2.21	24d	1	0.81mi
16020 84th Rd Jamaica, NY	3.0	1.5	900	$900	$1.00	17d	1	0.84mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	3d	1	0.94mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.98mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	0.98mi
148-37 88th Ave Queens, NY	2.0	2.0	900	$3,500	$3.89	24d	1	1.00mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	24d	1	1.01mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	24d	1	1.03mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	19d	1	1.05mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	24d	1	1.06mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	17d	1	1.09mi
7731 166th St Fresh Meadows, NY	3.0	1.0	1000	$2,700	$2.70	7d	1	1.11mi
7629 170th St Fresh Meadows, NY	2.0	1.0	924	$2,800	$3.03	3d	1	1.12mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	11d	1	1.17mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	24d	1	1.18mi
14725 94th Ave Jamaica, NY	1.0	1.0	525	$2,825	$5.38	4d	3	1.19mi
88-33 144th St Unit 2nd Fl Jamaica, NY	3.0	1.0	1100	$2,600	$2.36	3d	1	1.29mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	1.30mi
144-07 Jamaica Ave Unit 3rd Floor Jamaica, NY	3.0	2.0	800	$2,750	$3.44	24d	1	1.31mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	6d	1	1.33mi

HOA detail condo

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

Listing history 15 events

1. 2025-12-02
   status Pending
2. 2025-05-26
   listed $234,000 Active
3. 2025-05-23
   historical
4. 2025-01-02
   status Active
5. 2024-07-30
   status Pending
6. 2024-06-26
   listed $239,000 Active
7. 2015-10-26
   soldstatus $141,000 319-char remark

   Show marketing remark (319 chars)

   Fully Renovated 2 Bedroom, Living/Dining, Kitchen, Laundry Room (Basement), Security Camera, Express Buses, Few Blocks To F Train (Subway), Shopping Center, Restaurant And Much More. Price To Sell. Location! Location!! Location!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

8. 2015-10-26
   soldstatus $141,000 Closed

   Show marketing remark (319 chars)

   Fully Renovated 2 Bedroom, Living/Dining, Kitchen, Laundry Room (Basement), Security Camera, Express Buses, Few Blocks To F Train (Subway), Shopping Center, Restaurant And Much More. Price To Sell. Location! Location!! Location!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

9. 2015-08-03
   status Under Contract
10. 2015-06-08
    listed $159,000 New
11. 2015-05-29
    listed $159,000 319-char remark

    Show marketing remark (319 chars)

    Fully Renovated 2 Bedroom, Living/Dining, Kitchen, Laundry Room (Basement), Security Camera, Express Buses, Few Blocks To F Train (Subway), Shopping Center, Restaurant And Much More. Price To Sell. Location! Location!! Location!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

12. 2013-11-21
    historical
13. 2013-03-19
    listed $149,900
14. 2012-11-24
    historical
15. 2012-05-24
    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 1/10 Low FEMA zone X (unshaded) · 0% 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 50% 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: $34,752
• − Mortgage interest: −$13,108
• − Property taxes: −$3,510
• − Insurance: −$1,170
• − Repairs & maintenance: −$2,780
• − Management: −$2,780
• − Depreciation: −$6,807
• Taxable income: $4,597
• Est. tax owed @ 24.0%: −$1,103
• After-tax cash flow: $6,946/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): 62,892
• Household income: $74,096
• Rent vs Own: 64.2% rent · 35.8% own
• Severe rent burden: 4385.0

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 0.73)
• Race & ethnicity: Asian 42% Hispanic / Latino 21% Black 17% White 12% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 57% · Canada, Jamaica, China
• Languages at home: 34% English-only · Other Indo-European 30% Spanish 19% Tagalog/Filipino 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: ▼ -457.06%
• Current HPI: 282.1513
• Rent YoY: ▲ 0.75%
• 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

+57.0% since first listed

15 events — show timeline

• 2025-12-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-05-26 Listed $234,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-07-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-06-26 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-26 Sold (MLS) $141,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-26 Sold (MLS) $141,000 MLSLI
• 2015-08-03 Pending — MLSLI
• 2015-06-08 Listed $159,000 MLSLI
• 2015-05-29 Listed $159,000 OneKey® MLS as Distributed by MLS Grid
• 2013-11-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-03-19 Listed $149,900 OneKey® MLS as Distributed by MLS Grid
• 2012-11-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-05-24 Listed $149,000 OneKey® MLS as Distributed by MLS Grid