112-50 Northern Blvd Unit 3B · New York, NY 11368

$285,000

2 bd · 1.0 ba · 850 sqft · Condo · 228 Days on market

Built 1950

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Why this score? — see what drove the B- 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 +22.3/30.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this 2 bedroom corner apartment. This spacious 2 bedroom welcomes you with 2 coat closets in the foyer. The dining room is perfectly located next to the kitchen and the living room. The kitchen enjoys a large window, great for ventilation. The living room has double panel window, hardwood floors and a closet. The hallway connects the primary bedroom with 2 opposite side windows in this room and a large closet, and the second bedroom with a window, closet and hardwood floors. The bathroom has been renovated recently. This building has a laundromat renovated on 2020, storage room and bicycle storage. There is a clubhouse with kitchen and bathroom. The building has on site in person

Key facts

• Garage
• Built 1950
• Listed 227 days

Property features AI

Finance

• HOA & community: Association: Dorie Miller

Exterior

• Parking: 1-car garage; No carport; Parking waitlist
• Utilities: Public sewer; Public water available; Trash collection
• Home design: Stock cooperative; 6-story building; Unit entry between 3rd and 5th floors
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Located between the 3rd and 5th floors
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; No central cooling
• Interior features: Elevator; Entrance foyer; Bicycle room; Outdoor space; Clubhouse
• Laundry & utility: Common area laundry; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 243 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $3,088/mo this rent would consume 51% of the median local household income ($72k/yr) (locally 6817% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $21k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $250,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.71×
• Total profit: $136,517
• Equity at exit: $204,987

10-year hold

• IRR: 22.2%
• Equity multiple: 5.69×
• Total profit: $373,991
• Equity at exit: $396,363

Cash invested: $79,800 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,088 high
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $470

Break-even live

Break-even rent $2,493

Max offer price $285,000

Occupancy floor 80%

Sensitivity live

Price	-10% $667	-5% $568	+0% $470	+5% $371	+10% $273
Rent	-10% $226	-5% $348	+0% $470	+5% $592	+10% $714
Rate	-1.0pp $613	-0.5pp $542	base $470	+0.5pp $396	+1.0pp $321

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	0d	1	0.37mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	25d	1	0.58mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	19d	1	0.58mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	25d	1	0.67mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	19d	1	0.78mi
98-07 37th Ave Flushing, NY	3.0	1.0	750	$3,350	$4.47	25d	1	0.78mi
31-40 98th St Unit 2 Flushing, NY	1.0	1.0	800	$2,100	$2.62	8d	1	0.80mi
25-61 99th St Unit 2nd Fl Flushing, NY	2.0	1.0	780	$3,200	$4.10	25d	1	0.83mi
10869 50th Ave Corona, NY	3.0	1.0	912	$3,300	$3.62	25d	1	0.87mi
4911 108th St Unit 4A Corona, NY	3.0	2.0	1027	$3,600	$3.51	18d	1	0.90mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$4,500	$5.90	4d	3	1.03mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	19d	3	1.03mi
9707 24th Ave East Elmhurst, NY	3.0	1.5	1100	$4,500	$4.09	25d	1	1.06mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	25d	1	1.10mi
4028 College Point Blvd #912 Flushing, NY	2.0	2.0	1083	$4,200	$3.88	25d	1	1.12mi
13101 40th Rd Unit 2P Flushing, NY	1.0	1.0	761	$3,300	$4.34	25d	1	1.13mi
40-24 Aske St Unit 1FL Flushing, NY	1.0	1.0	800	$2,800	$3.50	0d	1	1.13mi
4022 College Point Blvd Flushing, NY	1.0–2.0	1.0–2.0	983	$4,000	$4.07	25d	2	1.13mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	25d	1	1.18mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	4d	1	1.19mi
4142 College Point Blvd Unit 6A Flushing, NY	2.0	2.0	868	$3,000	$3.46	2d	1	1.20mi
13119 Fowler Ave Unit 7C Flushing, NY	2.0	2.0	810	$3,300	$4.07	19d	1	1.21mi
8910 35th Ave Unit E1L Jackson Heights, NY	2.0	1.0	850	$3,050	$3.59	25d	1	1.21mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	25d	1	1.23mi
13222 41st Rd #501 Flushing, NY	2.0	2.0	843	$3,400	$4.03	25d	1	1.24mi
4050 Case St Elmhurst, NY	3.0	2.0	988	$3,900	$3.95	8d	1	1.25mi
40-85 Denman St Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	20d	1	1.26mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	16d	2	1.27mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	25d	1	1.29mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	16d	1	1.29mi
3371 Prince St Unit 6K Flushing, NY	2.0	2.0	768	$4,000	$5.21	16d	1	1.29mi
3371 Prince St Unit 7C Flushing, NY	2.0	2.0	773	$4,025	$5.21	16d	1	1.29mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	16d	1	1.29mi
13208 Pople Ave Unit 4A Flushing, NY	1.0	1.0	650	$2,500	$3.85	25d	1	1.30mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.32mi
9209 43rd Ave Unit 2 Elmhurst, NY	3.0	1.5	1100	$3,200	$2.91	25d	1	1.33mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	5d	1	1.33mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	4d	1	1.34mi
137-02 Northern Blvd Unit 2F Flushing, NY	1.0	1.0	800	$2,550	$3.19	0d	1	1.37mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	11d	1	1.37mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $285,000 Active 228 DOM
2. 2026-06-17
   days on market $285,000 Active 227 DOM
3. 2026-06-15
   days on market $285,000 Active 225 DOM
4. 2026-06-13
   days on market $285,000 Active 223 DOM
5. 2026-06-10
   days on market $285,000 Active 219 DOM
6. 2026-06-08
   days on market $285,000 Active 218 DOM
7. 2026-06-04
   days on market $285,000 Active 214 DOM
8. 2026-06-03
   days on market $285,000 Active 213 DOM
9. 2026-06-01
   days on market $285,000 Active 211 DOM
10. 2026-05-31
    days on market $285,000 Active 210 DOM
11. 2026-05-04
    status Active
12. 2026-05-02
    historical
13. 2026-05-02
    price $285,000
14. 2025-11-02
    listed $270,000 Active
15. 2025-11-01
    historical $270,000

ⓘ 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 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: $37,051
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,964
• − Management: −$2,964
• − Depreciation: −$8,291
• Taxable income: $1,167
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $5,355/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): 105,716
• Household income: $72,270
• Rent vs Own: 76.9% rent · 23.1% own
• Severe rent burden: 6817.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 14% Asian 12% Black 8% White 4% Native American 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Dominican 14%
• Foreign-born: 60% · Canada, China, Jamaica
• Languages at home: 15% English-only · Spanish 70% Chinese 6% Other Indo-European 3%

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: ▲ 7.40%
• Current HPI: 282.8276
• Rent YoY: —
• 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

+5.6% since first listed

5 events — show timeline

• 2026-05-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-02 Price Changed $285,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-02 Listed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-01 Coming Soon $270,000 OneKey® MLS as Distributed by MLS Grid