143-50 Hoover Ave #304 · New York, NY 11435

$255,000

2 bd · 1.0 ba · 824 sqft · Condo public records · 39 Days on market

Built 1948

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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
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Cash flow +3.6/30.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

Key facts

• Nearby supermarkets
• Large closet
• Bonus room

Tags

• BONUS ROOM
• SEPARATE DINING AREA
• LARGE CLOSET
• CLOSE PROXIMITY TO MANHATTAN
• NEARBY SUPERMARKETS
• NEARBY GAS STATIONS

Property features AI

Finance

• Other: Living area reported from public records
• HOA & community: Association: First Residential; Building has elevators; Association maintenance provided (grounds and exterior); Snow removal and trash service included; Association fee includes heat and hot water

Exterior

• Parking: Has garage; Parking availability on a waitlist
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Entry level: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Open floor plan; No basement; Home office

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $-761 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $247k (3.0% below list) — sets the bar for market timing.

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: Rents rising (+2.0%/yr); 170 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% of the median local income ($80k/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 $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 39 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $247,350 (3.0% 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 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — 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. 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: 1.05% ✓
• Cap rate: 2.71%
• Cash-on-cash: -12.80%
• DSCR: 0.43
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -41.9%
• Equity multiple: -0.29×
• Total profit: $-91,838
• Equity at exit: $38,021

10-year hold

• IRR: -82.4%
• Equity multiple: -1.11×
• Total profit: $-150,522
• Equity at exit: $22,048

Cash invested: $71,400 (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 11435

• Rents YoY: 2.0%
• Active inventory: 170
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,686 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA est. from 2 same-building comps: −$1,121
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $-761

Break-even live

Break-even rent $3,650

Max offer price $144,831

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	24d	1	0.10mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.13mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	0.15mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	20d	1	0.17mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	5d	1	0.29mi
81-18 138th St Unit 3 Jamaica, NY	3.0	2.0	1000	$3,900	$3.90	24d	1	0.39mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.40mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	0.41mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.44mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	19d	1	0.48mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.48mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	24d	1	0.48mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.48mi
144-41 78th Ave Unit 3 Flushing, NY	3.0	2.0	750	$3,500	$4.67	24d	1	0.48mi
144-41 78th Ave Unit 3 Flushing, NY	3.0	2.0	750	$3,300	$4.40	4d	1	0.48mi
16020 84th Rd Jamaica, NY	3.0	1.5	900	$900	$1.00	17d	1	0.50mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	17d	1	0.53mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	19d	1	0.53mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	2d	1	0.68mi
148-37 88th Ave Queens, NY	2.0	2.0	900	$3,500	$3.89	24d	1	0.69mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	0.70mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	24d	1	0.70mi
88-33 144th St Unit 2nd Fl Jamaica, NY	3.0	1.0	1100	$2,600	$2.36	3d	1	0.74mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	24d	1	0.77mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	24d	1	0.78mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	24d	1	0.78mi
144-07 Jamaica Ave Unit 3rd Floor Jamaica, NY	3.0	2.0	800	$2,750	$3.44	24d	1	0.81mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	24d	1	0.84mi
15501 90th Ave Unit 3R Jamaica, NY	1.0	1.0	950	$2,100	$2.21	24d	1	0.88mi
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	19d	1	0.90mi
88-56 162nd St Apt 2D Jamaica, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.91mi
7731 166th St Fresh Meadows, NY	3.0	1.0	1000	$2,700	$2.70	7d	1	0.92mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	0.96mi
71-82 Parsons Blvd Unit 503 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	24d	1	0.97mi
71-82 Parsons Blvd Unit 702 Kew Gardens Hills, NY	1.0	1.0	1000	$2,900	$2.90	20d	1	0.97mi
71-82 Parsons Blvd Unit 303 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	14d	1	0.97mi
71-82 Parsons Blvd Unit 516 Kew Gardens Hills, NY	2.0	1.5	900	$3,500	$3.89	3d	1	0.97mi
84-73 168th Pl Unit 2nd floor Jamaica, NY	3.0	2.0	1000	$3,200	$3.20	19d	1	0.97mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.99mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	24d	1	1.07mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-02
   status $255,000 Pending 39 DOM
2. 2026-06-01
   days on market $255,000 Active 39 DOM
3. 2026-05-31
   days on market $255,000 Active 38 DOM
4. 2026-04-12
   listed $255,000 Active
5. 2022-06-16
   soldstatus $240,000 Closed 462-char remark

   Show marketing remark (462 chars)

   Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

6. 2022-03-09
   status Pending 462-char remark

   Show marketing remark (462 chars)

   Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

7. 2022-02-16
   historical 462-char remark

   Show marketing remark (462 chars)

   Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

8. 2021-10-07
   price $248,000 462-char remark

   Show marketing remark (462 chars)

   Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

9. 2021-08-19
   listed $265,000 Active 462-char remark

   Show marketing remark (462 chars)

   Fully renovated 1 bedroom unit with a bonus room that can be used as an office, kitchen with granite countertops and stainless steel appliances. The building has a laundry room, as well as a garage and storage units. Easy street parking and a short walk to the E and F train station and express buses to Manhattan. Close to shops, parks, and more. Water, heat, and taxes are included in maintenance., Additional information: Interior Features:Efficiency Kitchen

10. 2014-02-22
    historical
11. 2012-08-27
    listed $173,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 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: $32,231
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,579
• − Management: −$2,579
• − HOA: −$13,452
• − Depreciation: −$7,418
• Taxable loss: −$13,180
• Est. tax savings @ 24.0%: +$3,163
• After-tax cash flow: $-5,973/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): 56,826
• Household income: $79,710
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 3361.0

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 0.78)
• Race & ethnicity: Hispanic / Latino 30% Black 25% Asian 23% White 13% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 5%
• Common ancestry: Scotch-Irish 2% Hispanic 1% Russian 1%
• Foreign-born: 53% · Canada, China, Jamaica
• Languages at home: 42% English-only · Spanish 29% Other Indo-European 14% Russian/Polish/Slavic 4%

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: ▼ -399.00%
• Current HPI: 206.3955
• Rent YoY: ▲ 1.97%
• 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

+47.4% since first listed

8 events — show timeline

• 2026-04-12 Listed $255,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-16 Sold (MLS) $240,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-02-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-10-07 Price Changed $248,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-19 Listed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-08-27 Listed $173,000 OneKey® MLS as Distributed by MLS Grid