18-65 211 St Unit 1F · New York, NY 11360

$398,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 83 Days on market

Built 1961 ↓ 12% 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 +8.5/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks

Beautiful and sunny 2-bedroom, 2-bath co-op in the Bay Terrace area of Bayside. South and West exposure with hardwood floors, spacious living and dining area with chandelier, and abundant closet space. Eat-in kitchen features a dishwasher, refrigerator, gas oven, lighting fan, and hot water dispenser. Master bedroom includes a private bath, walk-in closet and one more closet. Laundry room in building and playground behind. One outdoor Parking space is available for this unit. No renting; primary residence only. No flip tax; no pets. Prime location near Bay Terrace Shopping Mall, movie theater, supermarket, restaurants, clinic, post office, recreation facilities, schools, and library. Conven

Key facts

• Garage
• Built 1961
• Listed 83 days

Property features AI

Exterior

• Parking: Assigned parking; 1-car garage; Parking fee applies
• Security: Key card entry; Security system; Video cameras
• Utilities: Electric service by Con-Edison; Public sewer; Cable available; Electricity connected; Natural gas connected; Phone connected; Sewer connected; Private trash collection; Water connected
• Home design: Stock cooperative; One level (entry level 1); Building with 6 total stories; Located on 6th floor or higher
• Construction: Brick construction
• Exterior features: Brick construction; No waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: Bedroom on first floor
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bath; Chandelier; Eat-in kitchen; Entrance foyer; Open kitchen; Pantry; Walk-in closet(s); Accessible elevator installed
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $398k.

Deal economics

• At list price, monthly cash flow is $-348 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $348k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (23.6% below list).
• Recommended offer: $304k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: 219 active listings in the ZIP; 23 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 37% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $52k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $304,104 (23.6% 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 83 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — 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: 0.76% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.75%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.28×
• Total profit: $31,315
• Equity at exit: $184,802

10-year hold

• IRR: 7.8%
• Equity multiple: 2.22×
• Total profit: $135,935
• Equity at exit: $289,431

Cash invested: $111,440 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,041 high
• Mortgage (P&I): −$2,087
• Tax est. 1.5%: −$498 /mo · $5,970/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $-348

Break-even live

Break-even rent $3,482

Max offer price $347,634

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: $99,500
• Closing costs: $11,940
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	11d	1	0.18mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	24d	1	0.18mi
1816 Bell Blvd Bayside, NY	1.0	1.0	1000	$2,500	$2.50	24d	1	0.24mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	24d	1	0.25mi
15-47 209th St #2 Flushing, NY	3.0	2.0	1250	$3,800	$3.04	24d	1	0.27mi
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	24d	1	0.27mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	18d	1	0.28mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.33mi
14-21 Bell Blvd Unit 2 Flushing, NY	3.0	2.0	1250	$3,600	$2.88	15d	1	0.45mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.60mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	18d	1	0.70mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	24d	1	1.04mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	1.10mi
208-12 39th Ave Bayside, NY	3.0	1.0	950	$3,150	$3.32	7d	1	1.22mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	18d	1	1.26mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.29mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	3d	1	1.31mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	24d	1	1.31mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.34mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	24d	1	1.35mi
207-07 42nd Ave Unit 2 Flushing, NY	2.0	2.0	1395	$3,900	$2.80	2d	1	1.36mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	22d	1	1.41mi
42-04 216th St Unit 2 Bayside, NY	3.0	2.0	1250	$3,200	$2.56	18d	1	1.46mi

HOA detail condo

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

Listing history 7 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   status Active
3. 2026-05-07
   status Pending
4. 2026-04-21
   price $398,000
5. 2026-03-28
   price $429,000
6. 2026-02-18
   listed $449,900 Active
7. 2026-02-17
   historical $449,900

ⓘ 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 ≥98°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: $36,492
• − Mortgage interest: −$22,294
• − Property taxes: −$5,970
• − Insurance: −$1,990
• − Repairs & maintenance: −$2,919
• − Management: −$2,919
• − Depreciation: −$11,578
• Taxable loss: −$11,179
• Est. tax savings @ 24.0%: +$2,683
• After-tax cash flow: $-1,494/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-11.5% since first listed

7 events — show timeline

• 2026-05-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $398,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $429,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Listed $449,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-17 Coming Soon $449,900 OneKey® MLS as Distributed by MLS Grid