99-05 59th Ave Unit 2A · New York, NY 11368

$319,000

2 bd · 1.0 ba · 950 sqft · Condo · 48 Days on market

Built 1962

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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 +13.9/30.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance.

Key facts

• Garage
• Built 1962
• Listed 47 days

Property features AI

Exterior

• Parking: Assigned parking; 1-car garage
• Utilities: Public sewer; Electricity available; Natural gas available; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Bedrooms: Entry level is 2
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning unit(s)
• Interior features: Recessed lighting

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $-32 ($-388/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (11.2% below list).
• Recommended offer: $283k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 243 active listings in the ZIP; 40 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 $2,834/mo this rent would consume 47% 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 $26k of equity ($2k loan paydown + $24k 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 $89k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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.
• Current owner paid $138k; list at $319k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $283,371 (11.2% 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 48 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.4

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: 18.3%
• Equity multiple: 2.31×
• Total profit: $117,296
• Equity at exit: $229,442

10-year hold

• IRR: 17.4%
• Equity multiple: 4.83×
• Total profit: $342,054
• Equity at exit: $443,649

Cash invested: $89,320 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,834 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-32

Break-even live

Break-even rent $2,875

Max offer price $314,317

Occupancy floor 96%

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	4d	1	0.18mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,850	$3.45	24d	3	0.22mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,775	$3.36	2d	3	0.22mi
102-45 62nd Rd Unit 7J Forest Hills, NY	1.0	1.0	770	$2,950	$3.83	24d	1	0.26mi
102-06 63rd Ave #2 Queens, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.33mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.33mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	1d	1	0.38mi
9941 64th Ave Rego Park, NY	1.0–2.0	1.0	975	$3,200	$3.28	18d	2	0.44mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	24d	1	0.44mi
9810 64th Ave Rego Park, NY	1.0	1.0	825	$2,125	$2.58	17d	2	0.46mi
9810 64th Ave Unit 3A Rego Park, NY	1.0	1.0	850	$2,450	$2.88	2d	1	0.47mi
9725 64th Ave Rego Park, NY	1.0	1.0	760	$1,800	$2.37	18d	1	0.47mi
9825 64th Rd Unit 8F Rego Park, NY	2.0	1.0	850	$2,400	$2.82	1d	1	0.48mi
6405 Yellowstone Blvd Flushing, NY	1.0	1.0–1.5	920	$3,075	$3.34	24d	2	0.52mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.52mi
4911 108th St Unit 4A Corona, NY	3.0	2.0	1027	$3,600	$3.51	17d	1	0.58mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	14d	1	0.60mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.60mi
61-20 Grand Central Pkwy Unit Bb706 Forest Hills, NY	2.0	1.0	970	$2,850	$2.94	18d	1	0.61mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.61mi
97-12 65th Rd Apt 5D Rego Park, NY	1.0	1.0	800	$3,395	$4.24	5d	1	0.63mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	24d	1	0.64mi
102-39 66th Ave Unit 1 Flushing, NY	2.0	1.0	981	$3,000	$3.06	1d	1	0.66mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.66mi
98-81 Queens Blvd Unit 14K Rego Park, NY	2.0	2.0	950	$4,490	$4.73	12d	1	0.66mi
10869 50th Ave Corona, NY	3.0	1.0	912	$3,300	$3.62	24d	1	0.66mi
9876 Queens Blvd Unit 3A Rego Park, NY	1.0	1.0	820	$2,900	$3.54	24d	1	0.69mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	4d	1	0.69mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	24d	1	0.72mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	18d	1	0.76mi
10025 Queens Blvd Unit 3M Forest Hills, NY	2.0	1.0	925	$2,900	$3.14	24d	1	0.76mi
60-24 Wetherole St Unit 3rd Fl Elmhurst, NY	3.0	2.0	1000	$3,400	$3.40	2d	1	0.76mi
11105 66th Ave Unit 2B Forest Hills, NY	1.0	1.0	850	$2,600	$3.06	15d	1	0.78mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	18d	1	0.79mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	0.80mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	18d	1	0.82mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$3,300	$4.71	24d	2	0.82mi
10010 67th Rd Unit 6L Forest Hills, NY	1.0	1.0	845	$2,700	$3.20	21d	1	0.85mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	4d	1	0.85mi
10240 67th Dr Unit 1C Forest Hills, NY	1.0	1.5	780	$2,500	$3.21	24d	1	0.86mi

HOA detail condo

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

Listing history 8 events

1. 2026-04-10
   listed $319,000 Active
2. 2015-03-23
   soldstatus $138,000 Closed 183-char remark

   Show marketing remark (267 chars)

   South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance., Additional information: Appearance:Excellent,Interior Features:Combo Kitchen,Lr/Dr

3. 2015-03-23
   soldstatus $138,000 267-char remark

   Show marketing remark (267 chars)

   South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance., Additional information: Appearance:Excellent,Interior Features:Combo Kitchen,Lr/Dr

4. 2014-12-01
   status Under Contract 183-char remark

   Show marketing remark (183 chars)

   South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance.

5. 2014-10-26
   listed $135,000 New 183-char remark

   Show marketing remark (267 chars)

   South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance., Additional information: Appearance:Excellent,Interior Features:Combo Kitchen,Lr/Dr

6. 2014-10-26
   listed $135,000 267-char remark

   Show marketing remark (267 chars)

   South Facing Bright Jr4 Unit In Fully Renovated Condition, Freshly Painted Throughout With Updated Kitchen And Bathroom. Must Be Owner Occupied. All Utilities Included In Maintenance., Additional information: Appearance:Excellent,Interior Features:Combo Kitchen,Lr/Dr

7. 2014-09-30
   historical
8. 2014-03-30
   listed $129,000

ⓘ 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 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: $34,005
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$2,392
• − Repairs & maintenance: −$2,720
• − Management: −$2,720
• − Depreciation: −$9,280
• Taxable loss: −$5,763
• Est. tax savings @ 24.0%: +$1,383
• After-tax cash flow: $995/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

+147.3% since first listed

8 events — show timeline

• 2026-04-10 Listed $319,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-23 Sold (MLS) $138,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-23 Sold (MLS) $138,000 MLSLI
• 2014-12-01 Pending — MLSLI
• 2014-10-26 Listed $135,000 MLSLI
• 2014-10-26 Listed $135,000 OneKey® MLS as Distributed by MLS Grid
• 2014-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-03-30 Listed $129,000 OneKey® MLS as Distributed by MLS Grid