28-08 21st St Unit 2-B · New York, NY 11102

$595,000

1 bd · 1.0 ba · 524 sqft · Condo · 83 Days on market

Built 2026 Good condition $364/mo HOA · 7% of rent

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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 +8.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• DSCR +2.4/10.0

Listing remarks

Welcome to Twenty8, Astoria’s newest boutique condominium collection, offering a fresh, modern lifestyle in one of New York’s most vibrant and inviting neighborhoods. Residence 2B is a thoughtfully designed one-bedroom residence that blends modern comfort with functional elegance in the heart of Astoria. This bright, east-facing home is filled with natural morning light and offers open views of the surrounding Queens cityscape. A private 42sqft balcony extends the living space outdoors—perfect for enjoying a quiet coffee or unwinding at the end of the day. The kitchens feature custom matte white-and-grey cabinetry paired with elegant white quartz countertops and a stunning

Key facts

• Custom cabinetry
• Quartz countertops
• Private balcony

Tags

• PRIVATE BALCONY
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• WATERFALL ISLAND
• IN-UNIT WASHER AND DRYER
• WIDE-PLANK HARDWOOD FLOORS

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: Monthly association fee of $364; Pets allowed in building

Exterior

• Parking: Has garage
• Security:
• Utilities:
• Home design: 8-story building; Entry on level 2; East exposures
• Construction:
• Exterior features: Balcony; Private outdoor space under 60 sqft; Building roof deck; Building storage

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: 3 total rooms
• Laundry & utility: In-unit washer; In-unit dryer; Building allows washer/dryer installation

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $595k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-509 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $521k (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $502k (15.6% below list).
• Recommended offer: $502k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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 (+4.8%/yr); 114 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $5,022/mo this rent would consume 62% of the median local household income ($97k/yr) (locally 2407% 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 $5k of equity ($4k loan paydown + $976 appreciation (0.2% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($559k) is reasonable based on typical stale-listing flexibility.

Recommended offer $502,155 (15.6% 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 83 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.84% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.67%
• DSCR: 0.84
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.16% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.79×
• Total profit: $-35,708
• Equity at exit: $177,668

10-year hold

• IRR: 2.7%
• Equity multiple: 1.31×
• Total profit: $50,863
• Equity at exit: $217,514

Cash invested: $166,600 (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 11102

• Home prices YoY: 0.1%
• Rents YoY: 4.8%
• Active inventory: 114
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $5,022 high
• Mortgage (P&I): −$3,120
• Tax est. 1.5%: −$744 /mo · $8,925/yr
• Insurance: −$248
• HOA: −$364
• Vacancy / Maint / Mgmt: −$1,055
• Net cashflow: $-509

Break-even live

Break-even rent $5,666

Max offer price $521,363

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-303	+0% $-509	+5% $-714	+10% $-920
Rent	-10% $-906	-5% $-707	+0% $-509	+5% $-311	+10% $-112
Rate	-1.0pp $-209	-0.5pp $-358	base $-509	+0.5pp $-663	+1.0pp $-820

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$3,237	$3.65	0d	10	0.15mi
888 Main St New York, NY	3.0	1.0–2.0	908	$4,928	$5.43	1d	8	0.90mi
515 E 86th St Unit 1760 New York, NY	1.0	1.0	485	$5,360	$11.05	1d	1	1.07mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	22d	1	1.07mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,050	$11.41	1d	2	1.08mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	26d	2	1.12mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	12d	3	1.14mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	24d	1	1.16mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$3,576	$5.83	0d	22	1.23mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,520	$7.97	1d	2	1.25mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	21d	1	1.26mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	5d	3	1.27mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	26d	1	1.34mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	26d	1	1.38mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	23d	1	1.39mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	5d	2	1.41mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	24d	1	1.41mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	26d	1	1.41mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	26d	1	1.45mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	24d	1	1.45mi
315 E 78th St Unit 1021847P New York, NY	1.0	1.0	516	$4,880	$9.46	22d	1	1.45mi
315 E 78th St Unit 1021885P New York, NY	1.0	1.0	516	$6,242	$12.10	1d	1	1.45mi
315 E 78th St Unit 1021994P New York, NY	1.0	1.0	441	$5,037	$11.42	23d	1	1.45mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,420	$7.32	1d	2	1.46mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	26d	2	1.47mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,810	$10.89	1d	1	1.48mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	20d	1	1.49mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	26d	1	1.49mi

HOA detail condo

• Monthly dues: $364 · $4,368/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $595,000 Active 83 DOM
2. 2026-06-18
   days on market $595,000 Active 80 DOM
3. 2026-06-17
   days on market $595,000 Active 79 DOM
4. 2026-06-15
   days on market $595,000 Active 77 DOM
5. 2026-06-13
   days on market $595,000 Active 75 DOM
6. 2026-06-10
   days on market $595,000 Active 71 DOM
7. 2026-06-08
   days on market $595,000 Active 70 DOM
8. 2026-06-08
   days on market $595,000 Active 69 DOM
9. 2026-06-04
   days on market $595,000 Active 66 DOM
10. 2026-06-03
    days on market $595,000 Active 65 DOM
11. 2026-06-01
    days on market $595,000 Active 63 DOM
12. 2026-05-31
    days on market $595,000 Active 62 DOM
13. 2026-03-30
    listed $595,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $60,259
• − Mortgage interest: −$33,329
• − Property taxes: −$8,925
• − Insurance: −$2,975
• − Repairs & maintenance: −$4,821
• − Management: −$4,821
• − HOA: −$4,368
• − Depreciation: −$17,309
• Taxable loss: −$16,289
• Est. tax savings @ 24.0%: +$3,909
• After-tax cash flow: $-2,197/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 · 5 photos

Good 80/100 Cosmetic rehab

This modern one-bedroom condo in Astoria is in excellent condition with minimal repairs needed. It offers a fresh, modern lifestyle with open views and a private balcony. Upgrades to the exterior and landscaping would significantly enhance its value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value
• Both Landscaping the front yard — Improves curb appeal and rental value
• Both Upgrading the HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and resale value ↑
• Both Landscaping the front yard — Improves curb appeal and rental value ↑
• Both Upgrading the HVAC system — Improves comfort and energy efficiency ↑

ⓘ 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): 28,503
• Household income: $96,617
• Rent vs Own: 86.6% rent · 13.4% own
• Severe rent burden: 2407.0

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 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 26% Asian 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 21% Other Indo-European 14% Russian/Polish/Slavic 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: ▲ 0.16%
• Current HPI: 144.3118
• Rent YoY: ▲ 4.79%
• 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

• 2026-03-30 Listed $595,000 RLS at REBNY