36-35 171st St #30 · New York, NY 11358

$318,000

2 bd · 1.0 ba · 762 sqft · Condo public records · 126 Days on market

Built 1952 ↓ 6% since listing

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-kept second-floor, two-bedroom garden apartment located on a quiet, tree-lined street. Features a brand-new kitchen countertop, all new stainless steel appliances, and new carpeting throughout. The bathroom offers updated tile work and a modern vanity. Sun-filled windows in every room create a warm, cozy, and comfortable living space. Conveniently located just one block from the Q28 bus to Main Street and within walking distance to shops, schools, parks, Northern Boulevard, and the LIRR. Easy access to major highways. Close to all—don’t miss the opportunity to see this beautiful unit.

Key facts

• Sun-filled windows
• Modern vanity
• Updated tile work

Tags

• BRAND-NEW KITCHEN COUNTERTOP
• NEW STAINLESS STEEL APPLIANCES
• UPDATED TILE WORK
• MODERN VANITY
• SUN-FILLED WINDOWS
• WALKING DISTANCE TO SHOPS

Property features AI

Exterior

• Parking: No carport
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Garden

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator; Stainless steel appliances
• Bedrooms: Entry level: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Entrance foyer; Granite counters; Cats allowed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $318k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (16.3% below list).
• Recommended offer: $266k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Ps 32 State Street (math 80% / reading 79%, grade A, #188 of 2,108 statewide, top 11%, 866 students, 66% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Francis Lewis High School (math 97% / reading 92%, grade A+, #117 of 1,100 statewide, top 11%, 4,265 students, 70% FRL).
• Market conditions: Rents rising fast (+12.7%/yr); 179 active listings in the ZIP; 40 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).
• This rent runs 36% of the median local income ($88k/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 $10k 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 126 days — a 12% lower offer ($280k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $266,142 (16.3% 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 126 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 5.93%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• GRM: 10.0

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: -13.0%
• Equity multiple: 0.51×
• Total profit: $-43,482
• Equity at exit: $47,415

10-year hold

• IRR: 2.4%
• Equity multiple: 1.21×
• Total profit: $18,516
• Equity at exit: $27,495

Cash invested: $89,040 (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 11358

• Rents YoY: 12.7%
• Active inventory: 179
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,661 high
• Mortgage (P&I): −$1,668
• Tax est. 1.5%: −$398 /mo · $4,770/yr
• Insurance: −$132
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-95

Break-even live

Break-even rent $2,782

Max offer price $304,238

Occupancy floor 99%

Sensitivity live

Price	-10% $125	-5% $15	+0% $-95	+5% $-205	+10% $-315
Rent	-10% $-305	-5% $-200	+0% $-95	+5% $10	+10% $115
Rate	-1.0pp $65	-0.5pp $-14	base $-95	+0.5pp $-178	+1.0pp $-261

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: $79,500
• Closing costs: $9,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	20d	1	0.14mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	9d	2	0.15mi
16710 Crocheron Ave Unit 3L Flushing, NY	1.0	1.0	850	$2,350	$2.76	20d	1	0.19mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	9d	1	0.25mi
165-02 Sanford Ave #204 Flushing, NY	2.0	2.0	800	$3,100	$3.88	26d	1	0.36mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	26d	1	0.41mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	26d	1	0.41mi
4334 192nd St Unit 2 Queens, NY	2.0	1.0	900	$2,650	$2.94	4d	1	0.45mi
42-47 194th St Unit 1FL Queens, NY	2.0	1.0	820	$2,800	$3.41	26d	1	0.47mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	26d	1	0.48mi
4531 163rd St Unit 1 Flushing, NY	1.0	1.0	600	$2,250	$3.75	9d	1	0.64mi
196-42 44th Ave #2 Flushing, NY	1.0	1.0	600	$2,000	$3.33	0d	1	0.67mi
43-12 157th St Unit 2 Flushing, NY	3.0	1.5	1100	$3,200	$2.91	26d	1	0.78mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	20d	1	0.81mi
208-12 39th Ave Bayside, NY	3.0	1.0	950	$3,150	$3.32	9d	1	0.93mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	23d	1	1.00mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	26d	1	1.07mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	20d	1	1.07mi
4156 149th St Flushing, NY	3.0	1.0	1000	$3,000	$3.00	26d	1	1.08mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	26d	1	1.08mi
40-10 149th St Fl 1 Flushing, NY	2.0	1.0	900	$2,200	$2.44	16d	1	1.13mi
40-10 149th St Fl 3 Flushing, NY	3.0	2.0	1030	$2,900	$2.82	14d	1	1.13mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	3d	1	1.13mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	4d	2	1.13mi
14731 Barclay Ave Flushing, NY	2.0	1.0	900	$2,500	$2.78	26d	1	1.14mi
14809 Northern Blvd Flushing, NY	2.0–3.0	2.0	1056	$3,500	$3.31	16d	2	1.23mi
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	26d	1	1.23mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	20d	1	1.24mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	26d	1	1.27mi
4229 Parsons Blvd Unit 6B Flushing, NY	3.0	2.0	860	$3,400	$3.95	26d	1	1.29mi
14489 38th Ave Unit 4C Flushing, NY	1.0	1.0	790	$2,400	$3.04	26d	1	1.30mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	26d	1	1.32mi
15019 26th Ave Flushing, NY	2.0	1.0	850	$2,800	$3.29	26d	1	1.33mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	26d	1	1.33mi
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	13d	1	1.35mi
203-06 53rd Ave Unit 2 Flushing, NY	1.0	1.0	850	$2,200	$2.59	26d	1	1.36mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	6d	1	1.36mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	26d	1	1.37mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	26d	1	1.41mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	3d	1	1.46mi

HOA detail condo

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

Listing history 4 events

1. 2026-05-31
   statusdays on market $318,000 Pending 126 DOM
2. 2026-05-04
   price $318,000
3. 2026-04-06
   price $328,000
4. 2026-01-21
   listed $338,000 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 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: $31,937
• − Mortgage interest: −$17,813
• − Property taxes: −$4,770
• − Insurance: −$1,590
• − Repairs & maintenance: −$2,555
• − Management: −$2,555
• − Depreciation: −$9,251
• Taxable loss: −$6,597
• Est. tax savings @ 24.0%: +$1,583
• After-tax cash flow: $442/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): 37,665
• Household income: $88,165
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1845.0

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 0.65)
• Race & ethnicity: Asian 49% White 28% Hispanic / Latino 17% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 1% Scotch-Irish 1%
• Foreign-born: 50% · China, South Korea, Canada
• Languages at home: 33% English-only · Chinese 25% Spanish 14% Korean 13%

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: ▼ -593.47%
• Current HPI: 304.3857
• Rent YoY: ▲ 12.74%
• 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

-5.9% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $318,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $328,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-21 Listed $338,000 OneKey® MLS as Distributed by MLS Grid