33-24 Junction Blvd Unit 6R · New York, NY 11372

$235,000

1 bd · 1.0 ba · 700 sqft · Condo · 66 Days on market

Built 1950 ↓ 16% 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 +15.8/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Appreciation +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Welcome to Southridge Section 4 Affordable One-Bedroom This bright and quiet sixth-floor (top-floor) unit offers a peaceful setting facing the back of the building with open courtyard views and beautiful tree-lined surroundings. With no units above, you’ll enjoy added privacy and minimal noise. The layout features a comfortable living room with a designated dining area, leading into a well-positioned kitchen. The bedroom is privately situated on the opposite side, providing a quiet retreat. The apartment has been freshly painted and is in move-in ready condition — perfect for buyers seeking comfort, convenience, and value in a desirable community.

Key facts

• Open courtyard views
• Sixth floor
• Built 1950

Tags

• SIXTH FLOOR
• OPEN COURTYARD VIEWS
• TREE LINED SURROUNDINGS
• DESIGNATED DINING AREA
• MOVE IN READY CONDITION

Property features AI

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Public sewer; Electricity available
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas oven; Microwave; Refrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning units
• Interior features: First-floor bedroom; 4 total rooms; No basement; No attic
• Laundry & utility: Pets allowed: cats

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (6.7% below list).
• Recommended offer: $219k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Rents soft (-0.6%/yr); 303 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 ($79k/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 66 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $219,319 (6.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.43×
• Total profit: $-37,558
• Equity at exit: $35,039

10-year hold

• IRR: -15.0%
• Equity multiple: 0.26×
• Total profit: $-48,505
• Equity at exit: $20,319

Cash invested: $65,800 (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 11372

• Home prices YoY: -1.5%
• Rents YoY: -0.6%
• Active inventory: 303
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,193 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $109

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 90%

Sensitivity live

Price	-10% $271	-5% $190	+0% $109	+5% $27	+10% $-54
Rent	-10% $-65	-5% $22	+0% $109	+5% $195	+10% $282
Rate	-1.0pp $227	-0.5pp $168	base $109	+0.5pp $48	+1.0pp $-14

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10006 32nd Ave East Elmhurst, NY	1.0	1.0	500	$2,500	$5.00	11d	1	0.32mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	25d	1	0.42mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	19d	1	0.53mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	0d	1	0.54mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	25d	1	0.60mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	25d	1	0.60mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	19d	1	0.73mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	0.87mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	11d	1	1.45mi

HOA detail condo

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

Listing history 37 events

1. 2026-06-18
   days on market $235,000 Active 66 DOM
2. 2026-06-17
   days on market $235,000 Active 65 DOM
3. 2026-06-15
   days on market $235,000 Active 63 DOM
4. 2026-06-13
   days on market $235,000 Active 61 DOM
5. 2026-06-10
   days on market $235,000 Active 57 DOM
6. 2026-06-08
   days on market $235,000 Active 56 DOM
7. 2026-06-08
   days on market $235,000 Active 55 DOM
8. 2026-06-04
   days on market $235,000 Active 52 DOM
9. 2026-06-03
   days on market $235,000 Active 51 DOM
10. 2026-06-01
    days on market $235,000 Active 49 DOM
11. 2026-05-31
    days on market $235,000 Active 48 DOM
12. 2026-04-10
    listed $235,000 Active
13. 2026-03-01
    historical
14. 2025-11-05
    price $220,000
15. 2025-09-17
    price $235,000
16. 2025-07-08
    listed $245,000 Active
17. 2025-05-14
    historical
18. 2025-04-04
    listed $235,000 Active
19. 2025-03-21
    historical
20. 2025-02-26
    price $235,000
21. 2024-09-16
    price $249,999
22. 2024-07-17
    price $255,000
23. 2024-05-23
    historical
24. 2024-05-22
    listed $279,000 Active
25. 2024-01-05
    listed $230,000 Active
26. 2023-12-13
    status Pending
27. 2023-11-18
    historical
28. 2023-11-18
    historical
29. 2023-09-25
    price $230,000
30. 2022-11-18
    listed $249,000 Active
31. 2020-08-14
    historical
32. 2020-08-14
    status Active
33. 2020-08-13
    historical
34. 2019-09-18
    price $249,000
35. 2019-08-14
    listed $274,990 New
36. 2019-08-08
    historical
37. 2019-03-02
    listed $279,000 New

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,318
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$6,836
• Taxable loss: −$2,593
• Est. tax savings @ 24.0%: +$622
• After-tax cash flow: $1,925/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): 64,756
• Household income: $78,606
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4836.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 55% Asian 21% Two or more races 21% White 18% Black 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, China
• Languages at home: 24% English-only · Spanish 51% Other Indo-European 11% 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: ▼ -3.57%
• Current HPI: 239.6404
• Rent YoY: ▼ -0.59%
• 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

-15.8% since first listed

26 events — show timeline

• 2026-04-10 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-08 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-04 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-26 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-16 Price Changed $249,999 OneKey® MLS as Distributed by MLS Grid
• 2024-07-17 Price Changed $255,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-22 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-05 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-11-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-09-25 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2022-11-18 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-08-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2020-08-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-18 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-14 Listed $274,990 OneKey® MLS as Distributed by MLS Grid
• 2019-08-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-03-02 Listed $279,000 OneKey® MLS as Distributed by MLS Grid