227-16 Hillside Ave · New York, NY 11427

$355,000

3 bd · 1.0 ba · 850 sqft · Condo · 283 Days on market

Built 1950

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!

Key facts

• Open floor plan
• Large dining room
• Granite countertops

Tags

• FULLY CUSTOM RENOVATED
• OPEN FLOOR PLAN
• FULLY REMODELED KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• LARGE DINING ROOM

Property features AI

Exterior

• Parking: No carport
• Utilities: Public sewer; Cable connected; Electricity connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Not waterfront; Public records listed living area

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Eat-in kitchen; Formal dining room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $-53 ($-638/yr) — negative.
• To cash-flow at today's rent, offer at most $347k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (14.4% below list).
• Recommended offer: $304k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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: 115 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 ($89k/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 $11k 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 283 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $172k; list at $355k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $303,822 (14.4% 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. It's been on market 283 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — 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: 0.86% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 9.7

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-60,863
• Equity at exit: $52,932

10-year hold

• IRR: -9.3%
• Equity multiple: 0.42×
• Total profit: $-57,170
• Equity at exit: $30,694

Cash invested: $99,400 (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 11427

• Active inventory: 115
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,038 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$638
• Net cashflow: $-53

Break-even live

Break-even rent $3,105

Max offer price $347,312

Occupancy floor 97%

Sensitivity live

Price	-10% $192	-5% $70	+0% $-53	+5% $-176	+10% $-298
Rent	-10% $-293	-5% $-173	+0% $-53	+5% $67	+10% $187
Rate	-1.0pp $126	-0.5pp $37	base $-53	+0.5pp $-145	+1.0pp $-239

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222-40 92nd Rd Unit 2nd Floor Jamaica, NY	2.0	1.0	1120	$3,200	$2.86	1d	1	0.54mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	22d	1	0.92mi
218-13 Jamaica Ave Jamaica, NY	4.0	2.0	750	$3,800	$5.07	9d	1	0.97mi
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	4d	1	1.09mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	20d	1	1.10mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	26d	1	1.12mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	6d	1	1.15mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	26d	1	1.34mi
8023 250 ST Unit 1st Bellerose, NY	3.0	1.5	950	$3,300	$3.47	4d	1	1.39mi
85-16 Little Neck Pkwy #1 Queens, NY	2.0	1.0	865	$2,750	$3.18	17d	1	1.44mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-21
   days on market $355,000 Active 283 DOM
2. 2026-06-18
   days on market $355,000 Active 280 DOM
3. 2026-06-17
   days on market $355,000 Active 279 DOM
4. 2026-06-15
   days on market $355,000 Active 277 DOM
5. 2026-06-13
   days on market $355,000 Active 275 DOM
6. 2026-06-10
   days on market $355,000 Active 271 DOM
7. 2026-06-08
   days on market $355,000 Active 270 DOM
8. 2026-06-03
   days on market $355,000 Active 265 DOM
9. 2026-06-01
   days on market $355,000 Active 263 DOM
10. 2026-05-31
    days on market $355,000 Active 262 DOM
11. 2026-05-01
    price $355,000
12. 2025-10-29
    price $369,000
13. 2025-09-11
    listed $380,000 Active
14. 2015-11-30
    soldstatus $172,000 Closed 309-char remark

    Show marketing remark (387 chars)

    Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!, Additional information: Appearance:Excellent,Interior Features:Combo Kitchen

15. 2015-11-30
    soldstatus $172,000 387-char remark

    Show marketing remark (387 chars)

    Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!, Additional information: Appearance:Excellent,Interior Features:Combo Kitchen

16. 2015-10-02
    status Under Contract 309-char remark

    Show marketing remark (309 chars)

    Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!

17. 2015-07-16
    listed $189,000 New 309-char remark

    Show marketing remark (387 chars)

    Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!, Additional information: Appearance:Excellent,Interior Features:Combo Kitchen

18. 2015-07-16
    listed $189,000 387-char remark

    Show marketing remark (387 chars)

    Beautiful And Rare Three Bedroom Co-Op In Desirable Bellpark Manor! This Beauty Is Bright And Sunny And Has Gorgeous Hardwood Floors Throughout. It Is In School District #26 And Is Unparalleled Insofar As Convenience To Ground Transportation, Access To Major Highways, Easy Shopping And Excellent Restaurants!, Additional information: Appearance:Excellent,Interior Features:Combo Kitchen

19. 2015-07-06
    historical
20. 2014-06-04
    listed $176,000
21. 2014-05-28
    historical
22. 2014-01-30
    soldstatus $186,000
23. 2013-03-06
    listed $183,000
24. 2012-01-04
    listed $186,000

ⓘ 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) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,459
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,917
• − Management: −$2,917
• − Depreciation: −$10,327
• Taxable loss: −$6,688
• Est. tax savings @ 24.0%: +$1,605
• After-tax cash flow: $967/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): 24,607
• Household income: $88,980
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 811.0

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 0.77)
• Race & ethnicity: Asian 37% Black 22% Hispanic / Latino 17% White 14% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 49% English-only · Other Indo-European 16% Spanish 14% Tagalog/Filipino 5%

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: ▼ -436.66%
• Current HPI: 297.7969
• 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

+90.9% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $355,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-29 Price Changed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-11 Listed $380,000 OneKey® MLS as Distributed by MLS Grid
• 2015-11-30 Sold (MLS) $172,000 OneKey® MLS as Distributed by MLS Grid
• 2015-11-30 Sold (MLS) $172,000 MLSLI
• 2015-10-02 Pending — MLSLI
• 2015-07-16 Listed $189,000 MLSLI
• 2015-07-16 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2015-07-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-06-04 Listed $176,000 OneKey® MLS as Distributed by MLS Grid
• 2014-05-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-01-30 Sold (MLS) $186,000 OneKey® MLS as Distributed by MLS Grid
• 2013-03-06 Listed $183,000 OneKey® MLS as Distributed by MLS Grid
• 2012-01-04 Listed $186,000 OneKey® MLS as Distributed by MLS Grid