11603 217th St · New York, NY 11411

$358,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 16 Days on market

Built 1950 1,975 sqft lot Est $693k · 48% under

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Why this score? — see what drove the C 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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One Family Brick home with a private entrance to a walk-in basement. Excellent location, Lovely block.

Key facts

• Private entrance
• Walk-in basement
• Excellent location

Tags

• PRIVATE ENTRANCE
• WALK-IN BASEMENT
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $358k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (3.1% below list).
• Recommended offer: $347k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: 76 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $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 16 days — a 2% lower offer ($353k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 54% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $346,957 (3.1% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $693,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11802 Springfield Blvd	0.25mi	3/1.5	1,296 (0%)	3mo	$625,000	$482	84
115-116 221st St	0.17mi	3/2.0	1,344 (+4%)	3mo	$540,000	$402	83
117-47 222 St	0.32mi	3/1.0	1,300 (+0%)	2mo	$710,000	$546	78
Withheld Withheld St	0.33mi	4/3.0 (+1)	1,344 (+4%)	1mo	$660,000	$491	69
11411 207th St	0.40mi	4/3.5 (+1)	1,344 (+4%)	1mo	$660,000	$491	64
11909 224th St	0.51mi	4/3.0 (+1)	1,268 (-2%)	0mo	$800,000	$631	63
115-45 199th St	0.64mi	3/1.0	1,274 (-2%)	2mo	$620,000	$487	62
117-16 205th St	0.33mi	3/2.5	1,152 (-11%)	3mo	$768,000	$667	62
205-22 112th Ave	0.65mi	3/2.0	1,394 (+8%)	1mo	$700,000	$502	56
21231 113th Ave	0.51mi	3/3.0	1,426 (+10%)	2mo	$800,000	$561	54
120-31 Francis Lewis Blvd	0.56mi	4/3.0 (+1)	1,400 (+8%)	1mo	$749,000	$535	51
22717 113th Dr	0.73mi	4/3.0 (+1)	1,380 (+6%)	2mo	$848,000	$614	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-43,925
• Equity at exit: $53,379

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-19,886
• Equity at exit: $30,953

Cash invested: $100,240 (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 11411

• Active inventory: 76
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,470 high
• Mortgage (P&I): −$1,877
• Tax from tax record: −$495 /mo · $5,934/yr
• Insurance: −$149
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $220

Break-even live

Break-even rent $3,191

Max offer price $358,000

Occupancy floor 89%

Sensitivity live

Price	-10% $423	-5% $321	+0% $220	+5% $119	+10% $17
Rent	-10% $-54	-5% $83	+0% $220	+5% $357	+10% $494
Rate	-1.0pp $400	-0.5pp $311	base $220	+0.5pp $127	+1.0pp $33

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: $89,500
• Closing costs: $10,740
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11521 222nd St Cambria Heights, NY	3.0	1.5	1250	$3,500	$2.80	25d	1	0.35mi
20207 Linden Blvd Saint Albans, NY	3.0	1.0	1584	$3,400	$2.15	25d	1	0.45mi
20120 120th Ave Saint Albans, NY	3.0	2.0	1040	$3,500	$3.37	19d	1	0.56mi
21511 111th Rd Queens Village, NY	2.0	1.0	1812	$3,100	$1.71	25d	1	0.66mi
11516 199th St Saint Albans, NY	3.0	2.0	1000	$3,800	$3.80	25d	1	0.67mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	25d	1	0.77mi
22518 112th Ave Queens Village, NY	3.0	1.0	1452	$3,500	$2.41	19d	1	0.78mi
10933 Francis Lewis Blvd Queens Village, NY	3.0	1.5	1492	$4,000	$2.68	25d	1	0.90mi
10713 220th St Queens Village, NY	4.0	2.0	1350	$4,999	$3.70	21d	1	0.91mi
12054 194th St Saint Albans, NY	3.0	1.0	1099	$3,200	$2.91	25d	1	0.95mi
2225 Leighton Rd Elmont, NY	3.0	1.0	1316	$3,500	$2.66	17d	1	0.97mi
191-28 114th Dr Unit 1 St. Albans, NY	3.0	2.0	1767	$3,150	$1.78	25d	1	0.98mi
104-18 220th St Unit 2nd flr Queens Village, NY	3.0	2.0	1150	$3,200	$2.78	19d	1	1.04mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	12d	1	1.08mi
200-03 109th Ave Unit 2nd flr Jamaica, NY	3.0	2.0	1300	$3,200	$2.46	5d	1	1.11mi
21836 133rd Rd Springfield Gardens, NY	2.0	1.0	902	$2,895	$3.21	25d	1	1.27mi
21707 134th Rd Springfield Gardens, NY	3.0	1.0	1848	$3,800	$2.06	15d	1	1.35mi
24301 130th Ave Rosedale, NY	2.0	1.0	1456	$3,000	$2.06	25d	1	1.48mi
218-13 Jamaica Ave Unit 2FL Jamaica, NY	4.0	2.0	1200	$3,800	$3.17	25d	1	1.49mi
13525 223rd St Laurelton, NY	3.0	2.0	1200	$3,400	$2.83	25d	1	1.49mi

Listing history 4 events

1. 2025-04-23
   status Pending
2. 2025-04-07
   listed $358,000 Active
3. 2014-04-15
   historical
4. 2013-05-18
   listed $289,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,934 · $495/mo
• Projected year-2 tax: $5,992 · $499/mo
• Expected delta: +$58/yr (+$5/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $41,635
• − Mortgage interest: −$20,054
• − Property taxes: −$5,934
• − Insurance: −$1,790
• − Repairs & maintenance: −$3,331
• − Management: −$3,331
• − Depreciation: −$10,415
• Taxable loss: −$3,219
• Est. tax savings @ 24.0%: +$773
• After-tax cash flow: $3,411/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): 20,501

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 Black (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 8% Two or more races 5% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 8%
• Foreign-born: 41% · Canada, Mexico, China
• Languages at home: 80% English-only · French/Haitian/Cajun 9% Spanish 7% Other Indo-European 1%

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: ▼ -298.42%
• Current HPI: 299.6176
• 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

+23.9% since first listed

4 events — show timeline

• 2025-04-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-07 Listed $358,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-05-18 Listed $289,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+11.9%/yr

Latest (2025): $5,934 · -1.7% YoY. Source: county tax records.