155-19 81st St #46 · New York, NY 11414

$249,000

2 bd · 1.0 ba · 778 sqft · Condo · 27 Days on market

Built 1966 Average condition

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you’ve been searching for a pet-friendly co-op with incredible potential, space, and value, this 1st floor 2 bedroom unit may be exactly the opportunity you’ve been waiting for. Yes, it’s ready for a new kitchen and bathroom, but that’s exactly where the opportunity begins. Why pay a premium for someone else’s taste when you can create a space that’s truly your own? With the right vision, this unit can be transformed into something absolutely amazing. Featuring a spacious and functional layout with a dedicated dining room, wood floors throughout the living room and bedrooms, and all new windows throughout the entire unit, this home already has the foun

Key facts

• Wood floors
• Natural light
• Multiple closets

Tags

• DEDICATED DINING ROOM
• WOOD FLOORS
• NEW WINDOWS
• MULTIPLE CLOSETS
• NATURAL LIGHT
• LANDSCAPED COURTYARDS

Property features AI

Exterior

• Parking: Assigned parking; Garage parking; Parking lot
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Water connected; Sewer connected
• Home design: Stock cooperative; Entry level is 1; Two levels
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Refrigerator included
• Bedrooms: Two levels (bedrooms across two levels)
• Flooring: Combination flooring; Hardwood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: New windows; Other interior features; Six total rooms; No basement
• Laundry & utility: Laundry room; Laundry available in multiple locations

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $249k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 260 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 35% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 27 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 69% 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 $245,265 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 7.4

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-9,346
• Equity at exit: $37,127

10-year hold

• IRR: 6.1%
• Equity multiple: 1.46×
• Total profit: $31,900
• Equity at exit: $21,529

Cash invested: $69,720 (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 11414

• Active inventory: 260
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,794 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $486

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 78%

Sensitivity live

Price	-10% $658	-5% $572	+0% $486	+5% $400	+10% $314
Rent	-10% $265	-5% $376	+0% $486	+5% $596	+10% $707
Rate	-1.0pp $612	-0.5pp $549	base $486	+0.5pp $422	+1.0pp $356

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-29 155th Ave Unit 5J Queens, NY	1.0	1.0	800	$2,500	$3.12	25d	1	0.20mi
8439 153rd Ave Unit 5A Howard Beach, NY	1.0	1.0	800	$2,500	$3.12	25d	1	0.28mi
149-09 84th St Unit 2 Howard Beach, NY	3.0	1.5	750	$3,200	$4.27	25d	1	0.36mi
9105 107th Ave Ozone Park, NY	1.0	1.0	648	$2,400	$3.70	20d	1	1.05mi
9512 108th Ave Ozone Park, NY	2.0	1.0	1000	$2,800	$2.80	12d	1	1.10mi
10215 Dunton Ct Howard Beach, NY	3.0	2.0	1100	$3,500	$3.18	25d	1	1.35mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-16
   status $249,000 Pending 27 DOM
2. 2026-06-15
   days on market $249,000 Active 27 DOM
3. 2026-06-13
   days on market $249,000 Active 25 DOM
4. 2026-06-10
   days on market $249,000 Active 21 DOM
5. 2026-06-08
   days on market $249,000 Active 20 DOM
6. 2026-06-08
   days on market $249,000 Active 19 DOM
7. 2026-06-04
   days on market $249,000 Active 16 DOM
8. 2026-06-03
   days on market $249,000 Active 15 DOM
9. 2026-06-02
   days on market $249,000 Active 14 DOM
10. 2026-06-01
    days on market $249,000 Active 13 DOM
11. 2026-05-31
    days on market $249,000 Active 12 DOM
12. 2026-05-19
    listed $249,000 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 5/10 Major FEMA zone X (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $33,522
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,682
• − Management: −$2,682
• − Depreciation: −$7,244
• Taxable income: $1,987
• Est. tax owed @ 24.0%: −$477
• After-tax cash flow: $5,356/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.

Condition & rehab AI · 11 photos

Average 55/100 Moderate rehab

This 2-bedroom townhouse requires moderate renovations to modernize the kitchen and bathroom, but the spacious layout and well-maintained exterior make it a solid investment opportunity.

Repairs flagged

• Major kitchen cabinets — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major kitchen flooring — dated and in poor condition

Value-add opportunities

• Resale new kitchen cabinets and flooring — modernizes the space and increases appeal
• Resale new bathroom fixtures and flooring — modernizes the space and increases appeal
• Both landscaping improvements — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
kitchen flooring · dated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale new kitchen cabinets and flooring — modernizes the space and increases appeal ↑
• Resale new bathroom fixtures and flooring — modernizes the space and increases appeal ↑
• Both landscaping improvements — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

1 event — show timeline

• 2026-05-19 Listed $249,000 OneKey® MLS as Distributed by MLS Grid