1785 215th St Unit 4L · New York, NY 11360

$349,000

1 bd · 1.0 ba · 640 sqft · Condo · 48 Days on market

Built 1970

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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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0

Listing remarks MLS

Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

Key facts

• Fitness center
• Premium amenities
• Spa

Tags

• PRIVATE SOUTH-FACING TERRACE
• STUNNING WATER VIEWS
• PREMIUM AMENITIES
• FITNESS CENTER
• SPA
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Additional assessment of $125 monthly (assessment in place until 2027)

Exterior

• Parking: Garage; 1-car garage; Monthly parking fee of $190
• Utilities: Cesspool sewer; Cable available; Electricity connected
• Home design: Stock cooperative
• Construction: Brownstone construction
• Exterior features: Not waterfront

Interior

• Kitchen: Convection oven
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Ductless cooling
• Interior features: First-floor bedroom; 3 total rooms; No basement; No attic

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-453 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (25.2% below list).
• Recommended offer: $261k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: 219 active listings in the ZIP; 7 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 32% 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 $14k of equity ($2k loan paydown + $11k 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 ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($339k) 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 $2k; list at $349k implies a 13860% gain — meaningful room to come down on a strong offer.

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 $261,067 (25.2% 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 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 0.75% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.57%
• DSCR: 0.75
• GRM: 11.1

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: 3.2%
• Equity multiple: 1.19×
• Total profit: $18,083
• Equity at exit: $162,050

10-year hold

• IRR: 6.5%
• Equity multiple: 2.01×
• Total profit: $99,135
• Equity at exit: $253,797

Cash invested: $97,720 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,611 high
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA est. from 5 same-building comps: −$104
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $-453

Break-even live

Break-even rent $3,185

Max offer price $283,388

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	24d	1	0.03mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	2d	4	0.10mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.13mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	24d	1	0.13mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.63mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	1.07mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.48mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-18
   days on market $349,000 Active 48 DOM
2. 2026-06-17
   days on market $349,000 Active 47 DOM
3. 2026-06-16
   days on market $349,000 Active 46 DOM
4. 2026-06-15
   days on market $349,000 Active 45 DOM
5. 2026-06-13
   days on market $349,000 Active 43 DOM
6. 2026-06-09
   days on market $349,000 Active 39 DOM
7. 2026-06-08
   days on market $349,000 Active 38 DOM
8. 2026-06-07
   days on market $349,000 Active 37 DOM
9. 2026-06-04
   days on market $349,000 Active 34 DOM
10. 2026-06-03
    days on market $349,000 Active 33 DOM
11. 2026-06-02
    days on market $349,000 Active 32 DOM
12. 2026-06-01
    days on market $349,000 Active 31 DOM
13. 2026-05-31
    days on market $349,000 Active 30 DOM
14. 2026-05-01
    listed $349,000 Active
15. 2017-04-03
    soldstatus $2,500 Closed 456-char remark

    Show marketing remark (456 chars)

    Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

16. 2017-01-27
    status Under Contract 456-char remark

    Show marketing remark (456 chars)

    Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

17. 2017-01-05
    status Back On Market 456-char remark

    Show marketing remark (456 chars)

    Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

18. 2016-12-15
    status Under Contract 456-char remark

    Show marketing remark (456 chars)

    Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

19. 2016-11-15
    listed $349,000 New 456-char remark

    Show marketing remark (456 chars)

    Resort-Style Living, Totally High End Renovated One Bedroom, Hardwood Floors, Stainless Steel Appliances All Glass Shower, Terrace Facing South With Spectacular Waterviews, Dog Friendly, Reserved Indoor Parking, 24Hr Doorman, Pool, Tennis, Fitness Center, Stores, Spa, 30 Mins From City By Lirr Or Express Bus, Also Offered Furnished, Additional information: Appearance:Diamond,ExterioFeatures:Tennis,Green Features:Green Certified,Interior Features:Lr/Dr

20. 2015-05-12
    historical
21. 2015-01-03
    listed $349,000
22. 2014-01-29
    soldstatus $200,000
23. 2013-03-07
    listed $225,000
24. 2013-02-28
    historical
25. 2012-11-07
    listed $238,000
26. 2012-10-30
    historical
27. 2012-01-30
    listed $238,000

ⓘ 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) · 13% 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: $31,328
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,506
• − Management: −$2,506
• − HOA: −$1,248
• − Depreciation: −$10,153
• Taxable loss: −$11,615
• Est. tax savings @ 24.0%: +$2,788
• After-tax cash flow: $-2,654/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

+46.6% since first listed

14 events — show timeline

• 2026-05-01 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-03 Sold (MLS) $2,500 OneKey® MLS as Distributed by MLS Grid
• 2017-01-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-01-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2016-12-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2016-11-15 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2015-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-01-03 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-29 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2013-03-07 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2013-02-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-11-07 Listed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2012-10-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-01-30 Listed $238,000 OneKey® MLS as Distributed by MLS Grid