99-11 60th Ave Unit 3J · New York, NY 11368

$398,000

2 bd · 1.5 ba · 1,200 sqft · Condo · 104 Days on market

Built 1961

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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).

• Appreciation +8.7/10.0
• 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
• 1% rule +2.4/10.0
• Cash flow +1.3/30.0
• DSCR +0.0/10.0

Listing remarks MLS

Move In Ready 1200 Square Foot Spacious 2 Bedrooms 1.5 Baths Coop In The Convenient Location Of Corona. Features Modern Renovation Design, Spacious Living Room/Bedrooms, Formal Dining Area, Storage Room, Spacious Closets, And More. All Utilities Included In The Maintenance Fee. A/C Is $30 Per Month. Close To All/Easy Access To Daily Needs. Right Next To Great Wall Supermarket, LIE (495) Highway, Rego Center Mall, Costco, And Many More.

Key facts

• En-suite bath
• Updated bathrooms
• Ample storage

Tags

• THOUGHTFULLY DESIGNED LAYOUT
• AMPLE STORAGE
• LARGE LIVING AND DINING AREA
• WELL-APPOINTED KITCHEN
• EN-SUITE BATH
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $398k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $327k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (26.1% below list).
• Recommended offer: $294k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 1.5% 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: 243 active listings in the ZIP; 40 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).
• At $2,942/mo this rent would consume 49% of the median local household income ($72k/yr) (locally 6817% 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 $32k of equity ($3k loan paydown + $29k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $235k; list at $398k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% 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 $294,237 (26.1% 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 104 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — 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: 0.74% ✗
• Cap rate: 1.51%
• Cash-on-cash: -17.08%
• DSCR: 0.24
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $44,363
• Equity at exit: $286,263

10-year hold

• IRR: 7.8%
• Equity multiple: 2.87×
• Total profit: $208,568
• Equity at exit: $553,518

Cash invested: $111,440 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,942 high
• Mortgage (P&I): −$2,087
• Tax est. 1.5%: −$498 /mo · $5,970/yr
• Insurance: −$166
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,160
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $-1,652

Break-even live

Break-even rent $5,034

Max offer price $158,884

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: $99,500
• Closing costs: $11,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	0.18mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,775	$3.36	2d	3	0.22mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,850	$3.45	24d	3	0.22mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	24d	1	0.26mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.33mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.33mi
6336 99th St Unit 5E Rego Park, NY	2.0	2.5	1333	$4,600	$3.45	4d	1	0.36mi
94-30 60th Ave Apt 1H Queens, NY	3.0	1.5	1200	$3,200	$2.67	24d	1	0.37mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.38mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$3,200	$3.28	18d	2	0.44mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	24d	1	0.44mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	17d	2	0.46mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.47mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	18d	1	0.47mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.48mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	24d	2	0.52mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.52mi
4911 108th St Unit 4A Corona, NY	3.0	2.0	1027	$3,600	$3.51	17d	1	0.58mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	15d	1	0.60mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.60mi
61-20 Grand Central Pkwy Unit Bb706 Forest Hills, NY	2.0	1.0	970	$2,850	$2.94	18d	1	0.61mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.63mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	24d	1	0.64mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	0.66mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.66mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	12d	1	0.66mi
10869 50th Ave Corona, NY	3.0	1.0	912	$3,300	$3.62	24d	1	0.66mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	24d	1	0.69mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	4d	1	0.69mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	24d	1	0.72mi
61-20 Grand Central Pkwy Unit A 106 Forest Hills, NY	2.0	2.0	1300	$3,100	$2.38	18d	1	0.73mi
110-55 64th Rd Unit 25 Forest Hills, NY	2.0	2.0	1300	$3,400	$2.62	7d	1	0.73mi
10210 66th Rd Unit 17B Forest Hills, NY	2.0	1.0	1175	$3,350	$2.85	4d	1	0.73mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	18d	1	0.76mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	24d	1	0.76mi
60-24 Wetherole St Unit 3rd Fl Elmhurst, NY	3.0	2.0	1000	$3,400	$3.40	2d	1	0.76mi
11105 66th Ave Unit 2B Forest Hills, NY	1.0	1.0	850	$2,600	$3.06	15d	1	0.78mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	18d	1	0.79mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	18d	1	0.82mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$3,300	$4.71	24d	2	0.82mi

HOA detail condo

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

Listing history 11 events

1. 2025-11-20
   status Pending
2. 2025-08-08
   listed $398,000 Active
3. 2024-08-15
   status Pending 439-char remark

   Show marketing remark (439 chars)

   Move In Ready 1200 Square Foot Spacious 2 Bedrooms 1.5 Baths Coop In The Convenient Location Of Corona. Features Modern Renovation Design, Spacious Living Room/Bedrooms, Formal Dining Area, Storage Room, Spacious Closets, And More. All Utilities Included In The Maintenance Fee. A/C Is $30 Per Month. Close To All/Easy Access To Daily Needs. Right Next To Great Wall Supermarket, LIE (495) Highway, Rego Center Mall, Costco, And Many More.

4. 2024-08-01
   listed $398,000 Active 439-char remark

   Show marketing remark (439 chars)

   Move In Ready 1200 Square Foot Spacious 2 Bedrooms 1.5 Baths Coop In The Convenient Location Of Corona. Features Modern Renovation Design, Spacious Living Room/Bedrooms, Formal Dining Area, Storage Room, Spacious Closets, And More. All Utilities Included In The Maintenance Fee. A/C Is $30 Per Month. Close To All/Easy Access To Daily Needs. Right Next To Great Wall Supermarket, LIE (495) Highway, Rego Center Mall, Costco, And Many More.

5. 2017-05-03
   soldstatus $235,000 Closed 408-char remark

   Show marketing remark (408 chars)

   Subject To Board Approval. As Is Condition. Needs Updating Must Use Licensed, Insured, Bonded Contractors For All Repairs. This Large 2 Bedroom Apartment Has Enormous Potential. Hardwood Floors, Large Closets, Corner Unit With Lots Of Sun Exposure. No Pets. Has Flip Tax For $15 Per Share (598 Shares). No Subletting. Walking Distance To Queens Center Mall And Train., Additional information: Appearance:Poor

6. 2017-03-08
   status Under Contract 408-char remark

   Show marketing remark (408 chars)

   Subject To Board Approval. As Is Condition. Needs Updating Must Use Licensed, Insured, Bonded Contractors For All Repairs. This Large 2 Bedroom Apartment Has Enormous Potential. Hardwood Floors, Large Closets, Corner Unit With Lots Of Sun Exposure. No Pets. Has Flip Tax For $15 Per Share (598 Shares). No Subletting. Walking Distance To Queens Center Mall And Train., Additional information: Appearance:Poor

7. 2016-12-29
   listed $249,000 New 408-char remark

   Show marketing remark (408 chars)

   Subject To Board Approval. As Is Condition. Needs Updating Must Use Licensed, Insured, Bonded Contractors For All Repairs. This Large 2 Bedroom Apartment Has Enormous Potential. Hardwood Floors, Large Closets, Corner Unit With Lots Of Sun Exposure. No Pets. Has Flip Tax For $15 Per Share (598 Shares). No Subletting. Walking Distance To Queens Center Mall And Train., Additional information: Appearance:Poor

8. 2016-03-18
   historical
9. 2015-03-18
   listed $189,000
10. 2014-04-13
    historical
11. 2013-04-13
    listed $169,000

ⓘ 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 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: $35,308
• − Mortgage interest: −$22,294
• − Property taxes: −$5,970
• − Insurance: −$2,788
• − Repairs & maintenance: −$2,825
• − Management: −$2,825
• − HOA: −$13,920
• − Depreciation: −$11,578
• Taxable loss: −$26,891
• Est. tax savings @ 24.0%: +$6,454
• After-tax cash flow: $-13,376/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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 Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 3%

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: ▲ 7.40%
• Current HPI: 282.8276
• 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

+135.5% since first listed

11 events — show timeline

• 2025-11-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-08 Listed $398,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-08-01 Listed $398,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-03 Sold (MLS) $235,000 OneKey® MLS as Distributed by MLS Grid
• 2017-03-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2016-12-29 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-03-18 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-04-13 Listed $169,000 OneKey® MLS as Distributed by MLS Grid