16010 89th Ave Unit 15H · New York, NY 11432

$199,000

1 bd · 1.0 ba · 700 sqft · Condo · 78 Days on market

Built 1965

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

We have an updated large one bedroom Co-Op in Northwood Building at Jamaica Towers. Plenty of closet space. The building is conveniently located next to an abundance of grocery stores and authentic cuisines.

Key facts

• Large one bedroom
• Conveniently located
• Built 1965

Tags

• LARGE ONE BEDROOM
• PLENTY OF CLOSET SPACE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 flat; 197 active listings in the ZIP; 25 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).
• This rent runs 38% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $6k 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 78 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 50% 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 $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.18% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.20%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-11,433
• Equity at exit: $29,672

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $3,404
• Equity at exit: $17,206

Cash invested: $55,720 (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 11432

• Rents YoY: 0.8%
• Active inventory: 197
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,340 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $407

Break-even live

Break-even rent $1,825

Max offer price $199,000

Occupancy floor 78%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	19d	1	0.06mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	24d	1	0.34mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	17d	1	0.49mi
14725 94th Ave Jamaica, NY	1.0	1.0	525	$2,825	$5.38	4d	3	0.54mi
8449 168th St Jamaica, NY	—	1.0	500	$1,850	$3.70	24d	1	0.63mi
17218 Jamaica Ave Unit 4D Jamaica, NY	1.0	1.0	638	$2,900	$4.55	24d	1	0.68mi
17218 Jamaica Ave Unit 3D Jamaica, NY	1.0	1.0	638	$2,900	$4.55	18d	1	0.68mi
8720 175th St Jamaica, NY	—	1.0	400	$1,895	$4.74	22d	1	0.73mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.83mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.85mi
177-18 Wexford Ter Unit 601 Jamaica, NY	1.0	1.0	400	$2,600	$6.50	12d	1	0.86mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.88mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	3d	1	0.88mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	3d	1	0.88mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	0.96mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.97mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.97mi
138-28 Queens Blvd Unit 5B Briarwood, NY	1.0	1.0	500	$2,600	$5.20	24d	1	0.97mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	19d	1	0.97mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	14d	1	1.04mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	22d	1	1.06mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	1.26mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.27mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	1.36mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	1.45mi

HOA detail condo

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

Listing history 6 events

1. 2025-10-21
   status Pending
2. 2025-08-02
   listed $199,000 Active
3. 2015-10-10
   historical
4. 2014-10-10
   listed $112,000
5. 2013-07-11
   historical
6. 2012-12-06
   listed $95,000

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 78% 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 50% 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: $28,081
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,246
• − Management: −$2,246
• − Depreciation: −$5,789
• Taxable income: $1,874
• Est. tax owed @ 24.0%: −$450
• After-tax cash flow: $4,434/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): 62,892
• Household income: $74,096
• Rent vs Own: 64.2% rent · 35.8% own
• Severe rent burden: 4385.0

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 0.73)
• Race & ethnicity: Asian 42% Hispanic / Latino 21% Black 17% White 12% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 57% · Canada, Jamaica, China
• Languages at home: 34% English-only · Other Indo-European 30% Spanish 19% Tagalog/Filipino 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: ▼ -457.06%
• Current HPI: 282.1513
• Rent YoY: ▲ 0.75%
• 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

+109.5% since first listed

6 events — show timeline

• 2025-10-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-02 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2015-10-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-10-10 Listed $112,000 OneKey® MLS as Distributed by MLS Grid
• 2013-07-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-12-06 Listed $95,000 OneKey® MLS as Distributed by MLS Grid