155-17 Sanford Ave Unit 5B · New York, NY 11355

$358,000

2 bd · 1.0 ba · 861 sqft · Condo · 24 Days on market

Built 1928

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Why this score? — see what drove the F 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).

• 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 +2.7/10.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks

Rare Find Sponsor Unit – No Board Approval Needed and No Application Needed! Move right into this newly renovated, corner two-bedroom, one-bathroom co-op located in a well-maintained elevator building. As a Sponsor Unit, no board approval is required—making this a smooth and hassle-free purchase opportunity. The apartment features beautiful parquet flooring, abundant natural light, and city views. The updated kitchen is equipped with stainless steel appliances, custom cabinetry, and plenty of storage. Both bedrooms are well-sized, and there’s generous closet space throughout the unit. Maintenance includes heat and hot water, and the building offers convenient laundry faci

Key facts

• Built 1928
• Listed 23 days

Property features AI

Finance

• HOA & community: Monthly association fee; Association covers heat, hot water and water; Association amenities include a park

Exterior

• Parking: No designated parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Public trash collection; Water connected
• Home design: Stock cooperative; One-level unit; Entry level: 5
• Construction: Brick construction
• Exterior features: Brick exterior; Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Other interior features; Dining area
• Laundry & utility: Gas water heater

🏢 Co-op / cooperative unit. The $358,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $358k.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (23.4% below list).
• Recommended offer: $274k (23.4% below list) — sets the bar for 1% rule.
• Cap rate -0.2% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.9%/yr); 405 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 $2,741/mo this rent would consume 59% 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 ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($353k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 59% of rent; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $274,094 (23.4% 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. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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. 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?
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: 0.77% ✗
• Cap rate: -0.18%
• Cash-on-cash: -23.11%
• DSCR: -0.03
• GRM: 10.9

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: -21.9%
• Equity multiple: -0.11×
• Total profit: $-111,087
• Equity at exit: $123,874

10-year hold

• IRR: -13.4%
• Equity multiple: -0.70×
• Total profit: $-170,877
• Equity at exit: $165,909

Cash invested: $100,240 (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: 405
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,741 high
• Mortgage (P&I): −$1,877
• Tax est. 1.5%: −$448 /mo · $5,370/yr
• Insurance: −$149
• HOA est. from 2 same-building comps: −$1,622
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $-1,931

Break-even live

Break-even rent $5,185

Max offer price $78,623

Occupancy floor —

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: $89,500
• Closing costs: $10,740
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43-12 157th St Unit 2 Flushing, NY	3.0	1.5	1100	$3,200	$2.91	24d	1	0.23mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	18d	1	0.28mi
4156 149th St Flushing, NY	3.0	1.0	1000	$3,000	$3.00	24d	1	0.30mi
40-10 149th St Fl 1 Flushing, NY	2.0	1.0	900	$2,200	$2.44	14d	1	0.34mi
40-10 149th St Fl 3 Flushing, NY	3.0	2.0	1030	$2,900	$2.82	12d	1	0.34mi
14731 Barclay Ave Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.35mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	24d	1	0.36mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	1d	1	0.43mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	2d	2	0.44mi
14809 Northern Blvd Flushing, NY	2.0–3.0	2.0	1056	$3,500	$3.31	14d	2	0.48mi
165-02 Sanford Ave #204 Flushing, NY	2.0	2.0	800	$3,100	$3.88	24d	1	0.50mi
14489 38th Ave Unit 4C Flushing, NY	1.0	1.0	790	$2,400	$3.04	24d	1	0.52mi
4229 Parsons Blvd Unit 6B Flushing, NY	3.0	2.0	860	$3,400	$3.95	24d	1	0.54mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	24d	1	0.55mi
4531 163rd St Unit 1 Flushing, NY	1.0	1.0	600	$2,250	$3.75	7d	1	0.58mi
16710 Crocheron Ave Unit 3L Flushing, NY	1.0	1.0	850	$2,350	$2.76	18d	1	0.61mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	24d	1	0.63mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	7d	2	0.64mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	18d	1	0.65mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	1d	1	0.72mi
36-20 Parsons Blvd Unit 5D Flushing, NY	2.0	1.0	900	$2,600	$2.89	14d	1	0.72mi
141-25 Northern Blvd Unit A14 Flushing, NY	1.0	1.0	880	$2,350	$2.67	10d	1	0.81mi
14238 37th Ave Unit 4C Flushing, NY	2.0	2.0	820	$2,800	$3.41	24d	1	0.84mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	21d	1	0.84mi
15019 26th Ave Flushing, NY	2.0	1.0	850	$2,800	$3.29	24d	1	0.89mi
3641 Union St Unit 2B Flushing, NY	2.0	1.0	968	$3,100	$3.20	24d	1	0.92mi
13835 39th Ave Flushing, NY	2.0–3.0	2.0	1000	$4,500	$4.50	1d	2	0.93mi
13835 39th Ave Flushing, NY	2.0	2.0	1014	$4,350	$4.29	24d	2	0.93mi
140-16 34th Ave Unit 1113 Flushing, NY	2.0	1.0	900	$3,000	$3.33	24d	1	0.93mi
14016 34th Ave Unit 1210 Flushing, NY	2.0	1.0	900	$3,000	$3.33	6d	1	0.93mi
140-16 34th Ave Apt 1003 Flushing, NY	2.0	2.0	1100	$3,300	$3.00	24d	1	0.93mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	11d	1	0.94mi
13702 Northern Blvd Flushing, NY	1.0–2.0	1.0	850	$2,850	$3.35	7d	2	0.99mi
139-31 34th Ave Unit 3rd fl Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.00mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	7d	1	1.01mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	18d	1	1.02mi
13618 Maple Ave Unit 5B Flushing, NY	2.0	2.0	836	$3,490	$4.17	24d	1	1.02mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.03mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	10d	1	1.08mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	1.08mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $358,000 Active 24 DOM
2. 2026-06-17
   days on market $358,000 Active 23 DOM
3. 2026-06-16
   days on market $358,000 Active 22 DOM
4. 2026-06-15
   days on market $358,000 Active 21 DOM
5. 2026-06-13
   days on market $358,000 Active 19 DOM
6. 2026-06-10
   days on market $358,000 Active 15 DOM
7. 2026-06-08
   days on market $358,000 Active 14 DOM
8. 2026-06-08
   days on market $358,000 Active 13 DOM
9. 2026-06-04
   days on market $358,000 Active 10 DOM
10. 2026-06-03
    days on market $358,000 Active 9 DOM
11. 2026-06-02
    days on market $358,000 Active 8 DOM
12. 2026-06-01
    days on market $358,000 Active 7 DOM
13. 2026-05-31
    days on market $358,000 Active 6 DOM
14. 2026-05-21
    historical $358,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $32,891
• − Mortgage interest: −$20,054
• − Property taxes: −$5,370
• − Insurance: −$1,790
• − Repairs & maintenance: −$2,631
• − Management: −$2,631
• − HOA: −$19,464
• − Depreciation: −$10,415
• Taxable loss: −$29,463
• Est. tax savings @ 24.0%: +$7,071
• After-tax cash flow: $-16,097/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

1 event — show timeline

• 2026-05-21 Coming Soon $358,000 OneKey® MLS as Distributed by MLS Grid