87-30 204th St Unit B-56 · New York, NY 11423

$250,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 132 Days on market

Built 1954

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Why this score? — see what drove the B- 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful 2 br co-op is centrally located in Queens, it boasts lots of extras from the extra cabinet space in the kitchen. To the ceramic tile work in the bathroom with recessed lighting and a jacuzzi tub. It also features two large double closets in the master bedroom. And lots of additional storage place throughout the unit. There is both indoor and outdoor parking available (waiting list) . Laundry room on the first fl, close to shops, airport, and major highways. will not last !!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Parking
• Built 1954
• Listed 131 days

Property features AI

Finance

• HOA & community: Association: AKAM; Association amenities include elevators; Association fee includes cable TV, electricity, and heat

Exterior

• Parking: 1 parking space (waitlist)
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected
• Home design: Stock cooperative; Unit located on 5th level of a 7-story building; One-level unit
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: Entry level: 5; Total rooms: 5; Stories in building: 7; Unit on one level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Window/wall air conditioning unit(s)
• Interior features: Elevator; Casement windows; Unfinished/none basement (no finished basement)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $739 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 119 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $8k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $208k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.25% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.67%
• DSCR: 1.56
• GRM: 6.7

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: 2.5%
• Equity multiple: 1.09×
• Total profit: $6,621
• Equity at exit: $37,276

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $66,586
• Equity at exit: $21,615

Cash invested: $70,000 (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 11423

• Active inventory: 119
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,123 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $739

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 71%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	0.18mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	6d	1	0.27mi
8789 191st St Hollis, NY	3.0	2.0	1374	$3,600	$2.62	24d	1	0.58mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	0.61mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.61mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	11d	1	0.65mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	24d	1	0.99mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	12d	1	0.99mi
200-03 109th Ave Unit 2nd flr Jamaica, NY	3.0	2.0	1300	$3,200	$2.46	5d	1	1.03mi
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	24d	1	1.05mi
10933 Francis Lewis Blvd Queens Village, NY	3.0	1.5	1492	$4,000	$2.68	24d	1	1.15mi
177-30 Wexford Ter Apt 806 Jamaica, NY	2.0	1.0	1090	$3,400	$3.12	15d	1	1.36mi
177-30 Wexford Ter Unit 802 Jamaica, NY	2.0	1.0	900	$3,300	$3.67	3d	1	1.36mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	1.36mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	3d	1	1.36mi
177-30 Wexford Ter Unit 603 Jamaica, NY	2.0	1.0	800	$3,300	$4.12	24d	1	1.36mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	3d	1	1.36mi
177-30 Wexford Ter Unit 502 Jamaica, NY	2.0	1.0	1100	$3,270	$2.97	12d	1	1.36mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	24d	1	1.37mi
90-32 179th St Unit 2nd fl Jamaica, NY	3.0	1.0	1200	$3,000	$2.50	24d	1	1.37mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	4d	1	1.37mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	1.38mi
17545 88th Ave Unit 6F Jamaica, NY	2.0	2.0	1224	$2,950	$2.41	24d	1	1.39mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	10d	1	1.40mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	24d	1	1.40mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $250,000 Active 132 DOM
2. 2026-06-17
   days on market $250,000 Active 131 DOM
3. 2026-06-15
   days on market $250,000 Active 129 DOM
4. 2026-06-13
   days on market $250,000 Active 127 DOM
5. 2026-06-10
   days on market $250,000 Active 123 DOM
6. 2026-06-08
   days on market $250,000 Active 122 DOM
7. 2026-06-04
   days on market $250,000 Active 118 DOM
8. 2026-06-03
   days on market $250,000 Active 117 DOM
9. 2026-06-01
   days on market $250,000 Active 115 DOM
10. 2026-05-31
    days on market $250,000 Active 114 DOM
11. 2026-02-07
    listed $250,000 Active
12. 2026-02-05
    historical $250,000
13. 2019-11-01
    soldstatus $208,000 Closed 585-char remark

    Show marketing remark (585 chars)

    This beautiful 2 br co-op is centrally located in Queens, it boasts lots of extras from the extra cabinet space in the kitchen. To the ceramic tile work in the bathroom with recessed lighting and a jacuzzi tub. It also features two large double closets in the master bedroom. And lots of additional storage place throughout the unit. There is both indoor and outdoor parking available (waiting list) . Laundry room on the first fl, close to shops, airport, and major highways. will not last !!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

14. 2019-06-28
    status Under Contract 585-char remark

    Show marketing remark (585 chars)

    This beautiful 2 br co-op is centrally located in Queens, it boasts lots of extras from the extra cabinet space in the kitchen. To the ceramic tile work in the bathroom with recessed lighting and a jacuzzi tub. It also features two large double closets in the master bedroom. And lots of additional storage place throughout the unit. There is both indoor and outdoor parking available (waiting list) . Laundry room on the first fl, close to shops, airport, and major highways. will not last !!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

15. 2019-04-23
    listed $210,000 New 585-char remark

    Show marketing remark (585 chars)

    This beautiful 2 br co-op is centrally located in Queens, it boasts lots of extras from the extra cabinet space in the kitchen. To the ceramic tile work in the bathroom with recessed lighting and a jacuzzi tub. It also features two large double closets in the master bedroom. And lots of additional storage place throughout the unit. There is both indoor and outdoor parking available (waiting list) . Laundry room on the first fl, close to shops, airport, and major highways. will not last !!!!, Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $37,473
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,998
• − Management: −$2,998
• − Depreciation: −$7,273
• Taxable income: $5,201
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $7,623/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): 29,105

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: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Black 34% Asian 31% Hispanic / Latino 15% White 10% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 2% Dominican 4%
• Common ancestry: Hispanic 5% Danish 1% Scotch-Irish 1%
• Foreign-born: 55% · Canada, China, Jamaica
• Languages at home: 57% English-only · Other Indo-European 14% Spanish 14% French/Haitian/Cajun 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: ▼ -490.74%
• Current HPI: 273.0152
• 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

+19.0% since first listed

5 events — show timeline

• 2026-02-07 Listed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-05 Coming Soon $250,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-01 Sold (MLS) $208,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-04-23 Listed $210,000 OneKey® MLS as Distributed by MLS Grid