141-19 78th Rd Unit 3-M · New York, NY 11367

$219,880

1 bd · 1.0 ba · 720 sqft · Condo · 179 Days on market

Built 1940 ↓ 12% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This bright and sunny third floor apartment sits in a three story building set within a quiet courtyard. The unit features east and west exposures, hardwood floors throughout, and a kitchen with plenty of cabinets. The apartment requires renovation and offers an excellent opportunity for a buyer to update and customize the space to their own taste. The building is investor-friendly, allowing immediate and unlimited subletting. Parking is available with a waitlist at $150 per month, and the monthly assessment is $12.60. Ideal for investors, or anyone looking for a comfortable home with great potential in a convenient location. Conveniently located, the apartment is close to shopping, parks,

Key facts

• Parking available
• Quiet courtyard
• Convenient location

Tags

• THIRD FLOOR APARTMENT
• QUIET COURTYARD
• EAST AND WEST EXPOSURES
• HARDWOOD FLOORS
• PARKING AVAILABLE
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: Additional assessment fee of $12.50 monthly

Exterior

• Parking: Garage (no carport)
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Galley type kitchen; Entry on 3rd level; Pets allowed with size limit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-421 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.0% 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: 260 active listings in the ZIP; 34 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 37% of the median local income ($75k/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 179 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $193,494 (12.0% 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 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.05% ✓
• Cap rate: 4.00%
• Cash-on-cash: -8.20%
• DSCR: 0.64
• GRM: 7.9

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: -30.4%
• Equity multiple: -0.01×
• Total profit: $-61,952
• Equity at exit: $32,785

10-year hold

• IRR: -30.9%
• Equity multiple: -0.41×
• Total profit: $-86,503
• Equity at exit: $19,011

Cash invested: $61,566 (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 11367

• Active inventory: 260
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,311 high
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA est. from 1 same-building comp: −$727
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-421

Break-even live

Break-even rent $2,844

Max offer price $158,984

Occupancy floor —

Sensitivity live

Price	-10% $-269	-5% $-345	+0% $-421	+5% $-497	+10% $-573
Rent	-10% $-603	-5% $-512	+0% $-421	+5% $-330	+10% $-238
Rate	-1.0pp $-310	-0.5pp $-365	base $-421	+0.5pp $-478	+1.0pp $-536

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: $54,970
• Closing costs: $6,596
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	0.04mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.12mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	7d	1	0.18mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	415	$2,100	$5.06	0d	1	0.41mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	23d	1	0.41mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	14d	1	0.43mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	0.47mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.55mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.66mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	0.67mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	8d	1	0.77mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	25d	1	0.77mi
138-28 Queens Blvd Unit 5B Briarwood, NY	1.0	1.0	500	$2,600	$5.20	25d	1	0.77mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	19d	1	0.77mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	25d	1	0.91mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	25d	1	0.95mi
163-07 72nd Ave Unit 2G Flushing, NY	1.0	1.0	402	$2,000	$4.98	25d	1	0.95mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	18d	1	0.96mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	1.12mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	14d	1	1.12mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	25d	1	1.16mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	1.19mi
8449 168th St Jamaica, NY	—	1.0	500	$1,850	$3.70	25d	1	1.21mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	25d	1	1.22mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	5d	2	1.23mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	14d	1	1.27mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	25d	1	1.27mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	1.30mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	25d	1	1.30mi
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	19d	1	1.32mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	6d	2	1.34mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	1.39mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	25d	1	1.39mi
14725 94th Ave Jamaica, NY	1.0	1.0	525	$2,825	$5.38	5d	3	1.50mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-04
   days on market $219,880 Active 179 DOM
2. 2026-06-03
   days on market $219,880 Active 178 DOM
3. 2026-06-01
   days on market $219,880 Active 176 DOM
4. 2026-05-31
   days on market $219,880 Active 175 DOM
5. 2026-04-24
   price $219,880
6. 2026-02-14
   price $234,880
7. 2025-12-06
   listed $249,880 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $27,732
• − Mortgage interest: −$12,317
• − Property taxes: −$3,298
• − Insurance: −$1,099
• − Repairs & maintenance: −$2,219
• − Management: −$2,219
• − HOA: −$8,724
• − Depreciation: −$6,397
• Taxable loss: −$8,540
• Est. tax savings @ 24.0%: +$2,050
• After-tax cash flow: $-3,000/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• 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

-12.0% since first listed

3 events — show timeline

• 2026-04-24 Price Changed $219,880 OneKey® MLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $234,880 OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Listed $249,880 OneKey® MLS as Distributed by MLS Grid