58-03 Calloway St Unit 3EE · New York, NY 11369

$185,000

1 bd · 1.0 ba · 680 sqft · Condo · 253 Days on market

Built 1968

---

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).

• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Cash flow +4.8/30.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Great Value & Potential! This studio apartment, thoughtfully converted into a one-bedroom, presents an excellent opportunity for buyers looking to renovate and make it their own. Situated on the 3rd floor of an elevator building, the unit features large windows in the living area that bring in plenty of natural light. The bedroom is modest in size but provides privacy and flexibility. The building boasts desirable amenities including a residents' clubhouse, laundry room, storage space, and parking (waitlist). Enjoy low monthly maintenance and the option to rent after 3 years of ownership, making this a smart choice for both end users and future investors. Bring your contractor and ima

Key facts

• Large windows
• 3rd floor
• Residents clubhouse

Tags

• ONE-BEDROOM
• 3RD FLOOR
• ELEVATOR BUILDING
• LARGE WINDOWS
• NATURAL LIGHT
• RESIDENTS CLUBHOUSE

Property features AI

Finance

• HOA & community: Association managed by Kaled Management; Community clubhouse

Exterior

• Parking: Has garage; No carport
• Utilities: Public sewer; Public water available; Trash collection (public)
• Home design: Stock cooperative; Fixer condition; Living area based on plans
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 rooms total (includes bedrooms and other rooms)
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; No central cooling
• Interior features: Elevator; Finished full basement with walk-out access (common area)
• Laundry & utility: No washer/dryer listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-519 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.4% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 109 active listings in the ZIP; 32 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 253 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 45% of rent.
• Climate carrying-cost: severe flood risk; 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 $162,800 (12.0% 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 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.32% ✓
• Cap rate: 3.36%
• Cash-on-cash: -10.48%
• DSCR: 0.53
• GRM: 6.3

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: -37.6%
• Equity multiple: -0.20×
• Total profit: $-62,274
• Equity at exit: $27,584

10-year hold

• IRR: -50.3%
• Equity multiple: -0.81×
• Total profit: $-93,711
• Equity at exit: $15,995

Cash invested: $51,800 (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 11369

• Home prices YoY: -26.6%
• Active inventory: 109
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,446 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,106
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-519

Break-even live

Break-even rent $3,102

Max offer price $109,905

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	4d	1	0.26mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	2d	3	0.29mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	24d	3	0.29mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	4d	1	0.37mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.41mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	4d	1	0.43mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	10d	1	0.44mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	1d	1	0.46mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	24d	1	0.50mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.53mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	18d	1	0.60mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.68mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.69mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.71mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	18d	1	0.82mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	0.83mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	4d	1	0.84mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	18d	1	0.84mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	24d	1	0.85mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	24d	2	0.89mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	24d	1	0.92mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	24d	1	0.95mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	24d	1	0.96mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	16d	1	0.98mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	4d	3	1.02mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	18d	1	1.04mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	7d	1	1.22mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	24d	1	1.31mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	24d	1	1.40mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,750	$6.25	7d	1	1.40mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	4d	2	1.47mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	1.48mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $185,000 Active 253 DOM
2. 2026-06-17
   days on market $185,000 Active 252 DOM
3. 2026-06-15
   days on market $185,000 Active 250 DOM
4. 2026-06-13
   days on market $185,000 Active 248 DOM
5. 2026-06-10
   days on market $185,000 Active 244 DOM
6. 2026-06-08
   days on market $185,000 Active 243 DOM
7. 2026-06-03
   days on market $185,000 Active 238 DOM
8. 2026-06-01
   days on market $185,000 Active 236 DOM
9. 2026-05-31
   days on market $185,000 Active 235 DOM
10. 2026-04-24
    status Active
11. 2026-01-06
    status Pending
12. 2025-10-22
    status Active
13. 2025-10-11
    historical
14. 2025-06-10
    listed $185,000 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 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,347
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,348
• − Management: −$2,348
• − HOA: −$13,272
• − Depreciation: −$5,382
• Taxable loss: −$8,863
• Est. tax savings @ 24.0%: +$2,127
• After-tax cash flow: $-4,100/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
• City population: 7,731,280
• Population (ZIP): 33,354

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: Hispanic / Latino 59% Black 17% Two or more races 14% Asian 14% White 7%
• Hispanic origin (detail): Mexican 11% Puerto Rican 4% Dominican 12%
• Common ancestry: Hispanic 1% Lithuanian 1% Estonian 1%
• Foreign-born: 53% · Canada, Jamaica, China
• Languages at home: 28% English-only · Spanish 56% Other Indo-European 6% Chinese 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: ▼ -134.70%
• Current HPI: 371.5179
• Rent YoY: —
• Metro: —
• 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

5 events — show timeline

• 2026-04-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Listed $185,000 OneKey® MLS as Distributed by MLS Grid