211-02 73rd Ave Unit 4P · New York, NY 11364

$269,980

1 bd · 1.0 ba · 700 sqft · Condo · 52 Days on market

Built 1950

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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).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 1-bedroom residence, situated on the 4th floor of a P-style building, is located within the Oakland Gardens school district (#26). It is within minutes to MS74 and PS205. The property is surrounded by Cunningham Park and two shopping centers on 73rd Avenue and Boulevard, with convenient access to buses Q88 (to Flushing and Queens Center) and QM5 & 35 (to NYC Downtown and Midtown). Amenities include a gym for $29/month, additional fees for tennis and basketball courts, and a seasonal in-ground swimming pool. The gated community features an onsite security service booth, video intercom, and playground. Note that this is a no-pet elevator building, and the maintenance fee of $808.05

Key facts

• Community pool
• Built 1950
• Listed 52 days

Property features AI

Finance

• Other: Basement: common storage with walk-out access; Property includes outdoor community amenities and shared facilities
• HOA & community: Association: Windsor Park

Exterior

• Parking: Assigned parking; Parking fee required
• Security: Building security; Key card entry; Security lights; Video cameras; Smoke detectors
• Utilities: Con-Edison electric; Public sewer; Natural gas connected
• Home design: Stock cooperative; Six-story building; Unit on one level; Between 3rd and 5th floors (location description)
• Construction: Brick construction
• Exterior features: Outdoor space; Community in-ground pool; Clubhouse; Fitness center; Playground; Tennis courts; Gated community; Sidewalks

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Located on entry level 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Formal dining; Granite and stone counters; Natural woodwork; Pantry; Insulated windows; Accessible common areas, entrance, hallways and stairway; Customized wheelchair accessible
• Laundry & utility: Common area laundry; Laundry room; Basement laundry access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-74 ($-892/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (12.9% below list).
• Recommended offer: $235k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+8.5%/yr); 249 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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).

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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% 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 $235,171 (12.9% 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 52 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — 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. 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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.52×
• Total profit: $-35,980
• Equity at exit: $40,255

10-year hold

• IRR: 2.9%
• Equity multiple: 1.26×
• Total profit: $19,446
• Equity at exit: $23,343

Cash invested: $75,594 (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 11364

• Rents YoY: 8.5%
• Active inventory: 249
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,352 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$337 /mo · $4,050/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-74

Break-even live

Break-even rent $2,446

Max offer price $259,218

Occupancy floor 98%

Sensitivity live

Price	-10% $112	-5% $19	+0% $-74	+5% $-168	+10% $-261
Rent	-10% $-260	-5% $-167	+0% $-74	+5% $19	+10% $111
Rate	-1.0pp $62	-0.5pp $-6	base $-74	+0.5pp $-144	+1.0pp $-216

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: $67,495
• Closing costs: $8,099
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	26d	1	0.98mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	26d	1	1.17mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	26d	1	1.24mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	12d	1	1.29mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	26d	1	1.29mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $269,980 Active 52 DOM
2. 2026-06-18
   days on market $269,980 Active 49 DOM
3. 2026-06-17
   days on market $269,980 Active 48 DOM
4. 2026-06-16
   days on market $269,980 Active 47 DOM
5. 2026-06-15
   days on market $269,980 Active 46 DOM
6. 2026-06-13
   days on market $269,980 Active 44 DOM
7. 2026-06-10
   days on market $269,980 Active 40 DOM
8. 2026-06-08
   days on market $269,980 Active 39 DOM
9. 2026-06-08
   days on market $269,980 Active 38 DOM
10. 2026-06-04
    days on market $269,980 Active 35 DOM
11. 2026-06-03
    days on market $269,980 Active 34 DOM
12. 2026-06-01
    days on market $269,980 Active 32 DOM
13. 2026-05-31
    days on market $269,980 Active 31 DOM
14. 2026-04-30
    price $269,980
15. 2026-04-30
    listed $269,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% 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 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: $28,221
• − Mortgage interest: −$15,123
• − Property taxes: −$4,050
• − Insurance: −$2,147
• − Repairs & maintenance: −$2,258
• − Management: −$2,258
• − Depreciation: −$7,854
• Taxable loss: −$5,469
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $420/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): 35,276
• Household income: $98,359
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1288.0

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 0.64)
• Race & ethnicity: Asian 50% White 29% Hispanic / Latino 15% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 44% · China, South Korea, Canada
• Languages at home: 41% English-only · Chinese 30% Spanish 9% 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: ▼ -179.50%
• Current HPI: 242.5386
• Rent YoY: ▲ 8.47%
• 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

+0.4% since first listed

2 events — show timeline

• 2026-04-30 Price Changed $269,980 OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Listed $269,000 OneKey® MLS as Distributed by MLS Grid