89-35 155th Ave Unit 6K · New York, NY 11414

$399,000

3 bd · 2.0 ba · 1,134 sqft · Condo public records · 19 Days on market

Built 1962

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.9/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover elevated living at Howard Beach’s premier cooperative high rise. This extremely spacious three bedroom, two full bathroom corner terrace unit offers excellent light and flow, and is the largest unit in the building. The oversized living space leads to a private terrace with impressive views. On a clear day, you can see both the Manhattan skyline and Resorts World to the northeast. Fully renovated galley kitchen featuring sleek modern cabinetry, quartz countertops, and modern black appliances. Both bathrooms have been gut renovated with clean, modern finishes and frameless anti fog LED vanity mirrors. One bathroom offers a full bathtub while the second features a spacious walk

Key facts

• Garage
• Built 1962
• Listed 19 days

Property features AI

Finance

• HOA & community: Association: Eastwood

Exterior

• Parking: Assigned parking; Garage; Parking lot
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Water connected; Sewer connected
• Home design: Stock cooperative; Updated/remodeled condition
• Construction: Brick construction
• Exterior features: Balcony

Interior

• Kitchen: Gas cooktop; Gas oven; Microwave; Refrigerator
• Bedrooms: Entry located on level 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Elevator; Entrance foyer; Formal dining room; Laundry room; Cats allowed
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $354k (11.3% below list).
• Recommended offer: $354k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 1.8% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 260 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 45% of the median local income ($95k/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 $3k of loan paydown is wiped out by about $12k 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 19 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $353,857 (11.3% 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. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.89% ✗
• Cap rate: 1.83%
• Cash-on-cash: -15.93%
• DSCR: 0.29
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -46.7%
• Equity multiple: -0.42×
• Total profit: $-158,115
• Equity at exit: $59,492

10-year hold

• IRR: -84.2%
• Equity multiple: -1.29×
• Total profit: $-255,288
• Equity at exit: $34,498

Cash invested: $111,720 (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 11414

• Active inventory: 260
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,539 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA est. from 1 same-building comp: −$1,521
• Vacancy / Maint / Mgmt: −$743
• Net cashflow: $-1,483

Break-even live

Break-even rent $5,416

Max offer price $184,418

Occupancy floor —

Sensitivity live

Price	-10% $-1,207	-5% $-1,345	+0% $-1,483	+5% $-1,621	+10% $-1,759
Rent	-10% $-1,762	-5% $-1,623	+0% $-1,483	+5% $-1,343	+10% $-1,203
Rate	-1.0pp $-1,282	-0.5pp $-1,381	base $-1,483	+0.5pp $-1,586	+1.0pp $-1,692

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149-09 84th St Unit 2 Howard Beach, NY	3.0	1.5	750	$3,200	$4.27	26d	1	0.29mi
14912 83rd St Howard Beach, NY	3.0	2.0	1250	$3,200	$2.56	26d	1	0.35mi
155-69 99th St Unit 2nd Floor Jamaica, NY	3.0	1.5	1500	$3,200	$2.13	22d	1	0.62mi
156-49 76th St Unit 2 Jamaica, NY	3.0	2.0	1250	$3,300	$2.64	18d	1	0.71mi
132-13 81st St #1 Jamaica, NY	3.0	1.0	1280	$4,100	$3.20	5d	1	0.72mi
13214 81st St Ozone Park, NY	3.0	1.0	1280	$4,100	$3.20	13d	1	0.73mi
9512 108th Ave Ozone Park, NY	2.0	1.0	1000	$2,800	$2.80	13d	1	0.80mi
10541 90th St Ozone Park, NY	3.0	2.0	1264	$4,111	$3.25	26d	1	0.82mi
10929 103rd St Ozone Park, NY	3.0	2.0	1200	$3,400	$2.83	22d	1	0.93mi
10215 Dunton Ct Howard Beach, NY	3.0	2.0	1100	$3,500	$3.18	26d	1	1.22mi
97-56 105th St #2 Ozone Park, NY	3.0	2.0	1000	$3,811	$3.81	26d	1	1.41mi

HOA detail condo

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

Listing history 2 events

1. 2026-05-05
   status Pending
2. 2026-04-16
   listed $399,000 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $42,463
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,397
• − Management: −$3,397
• − HOA: −$18,252
• − Depreciation: −$11,607
• Taxable loss: −$24,521
• Est. tax savings @ 24.0%: +$5,885
• After-tax cash flow: $-11,910/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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

2 events — show timeline

• 2026-05-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Listed $399,000 OneKey® MLS as Distributed by MLS Grid