97-40 62 Dr Unit 11G · New York, NY 11374

$275,000

1 bd · 1.0 ba · 700 sqft · Condo · 75 Days on market

Built 1957

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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
• Schools +5.0/10.0
• Cash flow +4.4/30.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

x

Key facts

• Community pool
• Built 1957
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-792 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (8.6% below list).
• Recommended offer: $251k (8.6% below list) — sets the bar for 1% rule.

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); Jhs 157 Stephen A Halsey (math 74% / reading 80%, grade A, #41 of 729 statewide, top 6%, 1,542 students, 55% 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 (+1.7%/yr); 346 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 33% of the median local income ($91k/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 75 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 32% of rent; built in 1957 — 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 $251,380 (8.6% 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 75 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.91% ✗
• Cap rate: 3.13%
• Cash-on-cash: -11.31%
• DSCR: 0.50
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.74% rent growth · sell at horizon

5-year hold

• IRR: -41.1%
• Equity multiple: -0.27×
• Total profit: $-97,576
• Equity at exit: $41,003

10-year hold

• IRR: -81.7%
• Equity multiple: -1.08×
• Total profit: $-160,170
• Equity at exit: $23,777

Cash invested: $77,000 (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 11374

• Rents YoY: 1.7%
• Active inventory: 346
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,514 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 2 same-building comps: −$811
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-792

Break-even live

Break-even rent $3,516

Max offer price $160,394

Occupancy floor —

Sensitivity live

Price	-10% $-602	-5% $-697	+0% $-792	+5% $-887	+10% $-982
Rent	-10% $-991	-5% $-891	+0% $-792	+5% $-693	+10% $-593
Rate	-1.0pp $-654	-0.5pp $-722	base $-792	+0.5pp $-863	+1.0pp $-936

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	6d	1	0.07mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	4d	3	0.09mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	26d	3	0.09mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	3d	1	0.10mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	6d	1	0.11mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	6d	1	0.13mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	26d	1	0.34mi
97-12 65th Rd Unit 18-E Rego Park, NY	1.0	1.0	600	$3,650	$6.08	1d	1	0.35mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	7d	1	0.35mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	12d	1	0.36mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	7d	1	0.43mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	26d	1	0.46mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	0.51mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	6d	1	0.52mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	26d	1	0.56mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	26d	2	0.57mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	26d	1	0.60mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	0.63mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	21d	1	0.65mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	18d	1	0.67mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	6d	3	0.68mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	0.69mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	26d	1	0.71mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	26d	1	0.72mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	26d	1	0.75mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.83mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	9d	1	0.89mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	26d	1	1.10mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	1.28mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	13d	1	1.34mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	1.35mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	26d	1	1.35mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	20d	1	1.35mi
6820 Selfridge St Unit 3L Forest Hills, NY	—	1.0	500	$1,900	$3.80	26d	1	1.36mi

HOA detail condo

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

Listing history 2 events

1. 2025-12-19
   status Pending
2. 2025-10-05
   listed $275,000 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 7/10 Severe FEMA zone X (unshaded) · 76% 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,166
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$2,172
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − HOA: −$9,732
• − Depreciation: −$8,000
• Taxable loss: −$14,095
• Est. tax savings @ 24.0%: +$3,383
• After-tax cash flow: $-6,122/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): 46,989
• Household income: $90,631
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 3149.0

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 38% Asian 29% Hispanic / Latino 22% Two or more races 13% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 3%
• Common ancestry: Scotch-Irish 6% Romanian 2% Subsaharan African 1%
• Foreign-born: 54% · Canada, China, Jamaica
• Languages at home: 28% English-only · Spanish 18% Russian/Polish/Slavic 15% Chinese 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: ▼ -163.20%
• Current HPI: 207.1869
• Rent YoY: ▲ 1.74%
• 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

2 events — show timeline

• 2025-12-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-05 Listed $275,000 OneKey® MLS as Distributed by MLS Grid