14923 Sanford Ave · New York, NY 11355

$388,888

4 bd · 1.0 ba · 11,966 sqft · Condo public records · 37 Days on market

Built 2003

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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
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks

This is a 944 sqft condo locating in the lower level deed for community facility. Can be used for church, nonprofit organization, personal office. .etc. Monthly maintenance only $175. Taxes $800/month (can be reduced if used by church and/or nonprofit)

Key facts

• Built 2003
• Listed 36 days

Property features AI

Exterior

• Home design: Built in 2003
• Exterior features: Located in the Flushing subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $-4k ($-43k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Recommended offer: $377k (3.0% below list) — sets the bar for market timing.
• Cap rate -4.7% 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; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $4,025/mo this rent would consume 87% 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 $7k of equity ($3k 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 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($377k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 101% of rent.
• 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 $377,221 (3.0% 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 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.04% ✓
• Cap rate: -4.74%
• Cash-on-cash: -39.40%
• DSCR: -0.75
• GRM: 8.1

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: -38.7%
• Equity multiple: -0.95×
• Total profit: $-212,397
• Equity at exit: $134,562

10-year hold

• IRR: -26.7%
• Equity multiple: -2.46×
• Total profit: $-376,764
• Equity at exit: $180,223

Cash invested: $108,889 (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: 8.1×

Monthly cashflow live

• Estimated rent: $4,025 medium
• Mortgage (P&I): −$2,039
• Tax est. 1.5%: −$486 /mo · $5,833/yr
• Insurance: −$162
• HOA est. from 1 same-building comp: −$4,068
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $-3,576

Break-even live

Break-even rent $8,551

Max offer price —

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: $97,222
• Closing costs: $11,667
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 11 events

1. 2026-06-18
   days on market $388,888 Active 37 DOM
2. 2026-06-17
   days on market $388,888 Active 36 DOM
3. 2026-06-15
   days on market $388,888 Active 34 DOM
4. 2026-06-13
   days on market $388,888 Active 32 DOM
5. 2026-06-10
   days on market $388,888 Active 28 DOM
6. 2026-06-08
   days on market $388,888 Active 27 DOM
7. 2026-06-03
   days on market $388,888 Active 22 DOM
8. 2026-06-01
   days on market $388,888 Active 20 DOM
9. 2026-05-31
   days on market $388,888 Active 19 DOM
10. 2026-05-13
    listed $388,888 Active
11. 1986-10-29
    soldstatus $345,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $48,304
• − Mortgage interest: −$21,784
• − Property taxes: −$5,833
• − Insurance: −$1,944
• − Repairs & maintenance: −$3,864
• − Management: −$3,864
• − HOA: −$48,816
• − Depreciation: −$11,313
• Taxable loss: −$49,115
• Est. tax savings @ 24.0%: +$11,788
• After-tax cash flow: $-31,118/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

+12.7% since first listed

2 events — show timeline

• 2026-05-13 Listed $388,888 FSBO.com
• 1986-10-29 Sold (Public Records) $345,000 Public Records