51-40 30th Ave Unit 5B · New York, NY 11377

$280,000

1 bd · 1.0 ba · 700 sqft · Condo · 87 Days on market

Built 1935 Good condition ↓ 6% since listing

---

Why this score? — see what drove the C- 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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Astoria/Woodside beautifully maintained one-bedroom co-op located on the top floor of an elevator building in the desirable Boulevard Gardens community. This sun-drenched home features an open and spacious layout, including a full kitchen, comfortable living room, generously sized bedroom, and a windowed bathroom. Enjoy hardwood floors throughout and unobstructed landscape views that fill the space with natural light, creating a warm and inviting atmosphere. Maintenance includes gas cooking, heating, water and on site management office. Conveniently located near shopping, dining, and public transportation including buses Q18 and R & M trains, making commuting a breeze. Additional amen

Key facts

• Built 1935
• Listed 87 days

Property features AI

Finance

• HOA & community: Curbs and sidewalks in the community

Exterior

• Parking: On-street parking (waitlist)
• Security: Fire escape; Video cameras
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Stock cooperative; Located between 3rd and 5th floors; Entry at level 5; One level unit; Building has 6 total stories
• Construction: Brick construction
• Exterior features: Courtyard; Garden; Landscaped grounds; Near public transit; Near shops; Near schools; Paved areas

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: 3 rooms total
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Double-pane windows; Walk-out basement access; Bicycle room
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $263 ($3k/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 $278k (0.6% below list).
• Recommended offer: $263k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 rising fast (+6.1%/yr); 349 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,782/mo this rent would consume 46% of the median local household income ($73k/yr) (locally 5474% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 87 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-19,652
• Equity at exit: $41,749

10-year hold

• IRR: 6.5%
• Equity multiple: 1.56×
• Total profit: $43,636
• Equity at exit: $24,209

Cash invested: $78,400 (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 11377

• Home prices YoY: -28.8%
• Rents YoY: 6.1%
• Active inventory: 349
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,782 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $263

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 86%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$3,576	$5.83	2d	26	0.74mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	19d	1	1.31mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	1.40mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	11d	3	1.45mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	25d	1	1.47mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $280,000 Active 87 DOM
2. 2026-06-17
   days on market $280,000 Active 86 DOM
3. 2026-06-15
   days on market $280,000 Active 84 DOM
4. 2026-06-13
   days on market $280,000 Active 82 DOM
5. 2026-06-10
   days on market $280,000 Active 78 DOM
6. 2026-06-08
   days on market $280,000 Active 77 DOM
7. 2026-06-08
   days on market $280,000 Active 76 DOM
8. 2026-06-04
   days on market $280,000 Active 73 DOM
9. 2026-06-03
   days on market $280,000 Active 72 DOM
10. 2026-06-01
    days on market $280,000 Active 70 DOM
11. 2026-05-31
    days on market $280,000 Active 69 DOM
12. 2026-05-01
    price $280,000
13. 2026-03-23
    listed $299,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 12 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: $33,390
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,671
• − Management: −$2,671
• − Depreciation: −$8,145
• Taxable loss: −$1,382
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $3,490/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained one-bedroom co-op in Boulevard Gardens is ready for a fresh coat of paint and minor updates to the kitchen and flooring, which would significantly enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Updating the kitchen appliances — Modern appliances can attract more buyers
• Both Upgrading the flooring in the living areas — Hardwood flooring can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Updating the kitchen appliances — Modern appliances can attract more buyers ↑
• Both Upgrading the flooring in the living areas — Hardwood flooring can increase both resale and rental value ↑

ⓘ 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): 81,690
• Household income: $73,073
• Rent vs Own: 70.5% rent · 29.5% own
• Severe rent burden: 5474.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 40% Asian 36% Two or more races 20% White 20% Black 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4% Dominican 5%
• Common ancestry: Romanian 2%
• Foreign-born: 56% · Canada, China, Jamaica
• Languages at home: 27% English-only · Spanish 34% Other Indo-European 16% Chinese 6%

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: ▼ -110.83%
• Current HPI: 273.9408
• Rent YoY: ▲ 6.09%
• 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

-6.4% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $299,000 OneKey® MLS as Distributed by MLS Grid