58-03 Calloway St Unit 4JJ · New York, NY 11368

$229,999

1 bd · 1.0 ba · 622 sqft · Condo · 127 Days on market

Built 1968 ↓ 8% since listing

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Why this score? — see what drove the D- 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).

• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Cash flow +3.3/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Welcome to this Bright and well-maintained one-bedroom at the FOREST HILLS CHATEAU featuring ample closet space, hardwood floors, and a recently renovated kitchen and bathroom. Located in an elevator co-op that is sublet-friendly after three years of ownership, offering flexibility for future planning, including the ability to purchase for another person if desired. Building amenities include 24-hour laundry, storage availability, indoor garage and outdoor parking (waitlist), a private park for shareholders, a community room for events, and a live-in superintendent. Monthly maintenance includes heat, gas, and water. Conveniently located near Rego Park subway stations (63 Dr–Rego Park

Key facts

• Renovated bathroom
• Ample closet space
• Renovated kitchen

Tags

• AMPLE CLOSET SPACE
• HARDWOOD FLOORS
• RENOVATED KITCHEN
• RENOVATED BATHROOM
• BUILDING AMENITIES
• PRIVATE PARK

Property features AI

Exterior

• Parking: Garage; Parking lot; Waitlist for parking; 31 garage spaces
• Utilities: Public sewer; Electricity available; Natural gas connected; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Microwave; Refrigerator
• Bedrooms: Entry level: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Other heating; Wall/window air conditioning units
• Interior features: Common basement; Basement present; Cats allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-783 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.

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; 32 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 40% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (7.4% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 42% of rent.
• 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 $202,399 (12.0% 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 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.04% ✓
• Cap rate: 2.55%
• Cash-on-cash: -13.36%
• DSCR: 0.41
• GRM: 8.0

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: 7.8%
• Equity multiple: 1.57×
• Total profit: $36,811
• Equity at exit: $165,428

10-year hold

• IRR: 9.6%
• Equity multiple: 3.26×
• Total profit: $145,306
• Equity at exit: $319,871

Cash invested: $64,400 (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 11368

• Home prices YoY: 2.7%
• Active inventory: 243
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,384 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,450/yr
• Insurance: −$96
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,011
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-783

Break-even live

Break-even rent $3,376

Max offer price $116,667

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 32 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	0.26mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	3d	3	0.29mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	24d	3	0.29mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	4d	1	0.37mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	4d	1	0.41mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	4d	1	0.43mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	11d	1	0.44mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	2d	1	0.46mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	24d	1	0.50mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	0.53mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	19d	1	0.60mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	5d	1	0.68mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	24d	1	0.69mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	0.71mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	19d	1	0.82mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	0.83mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	5d	1	0.84mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	19d	1	0.84mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	24d	1	0.85mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	24d	2	0.89mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	24d	1	0.92mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	24d	1	0.95mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	24d	1	0.96mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	17d	1	0.98mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	5d	3	1.02mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	19d	1	1.04mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	8d	1	1.22mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	24d	1	1.31mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	24d	1	1.40mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,750	$6.25	8d	1	1.40mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	5d	2	1.47mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	24d	1	1.48mi

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 $229,999 Active 127 DOM
2. 2026-06-17
   days on market $229,999 Active 126 DOM
3. 2026-06-15
   days on market $229,999 Active 124 DOM
4. 2026-06-13
   days on market $229,999 Active 122 DOM
5. 2026-06-10
   days on market $229,999 Active 118 DOM
6. 2026-06-08
   days on market $229,999 Active 117 DOM
7. 2026-06-04
   days on market $229,999 Active 113 DOM
8. 2026-06-03
   days on market $229,999 Active 112 DOM
9. 2026-06-01
   days on market $229,999 Active 110 DOM
10. 2026-05-31
    days on market $229,999 Active 109 DOM
11. 2026-05-15
    price $229,999
12. 2026-04-28
    price $234,888
13. 2026-02-09
    listed $250,000 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 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $28,613
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,947
• − Repairs & maintenance: −$2,289
• − Management: −$2,289
• − HOA: −$12,132
• − Depreciation: −$6,691
• Taxable loss: −$13,069
• Est. tax savings @ 24.0%: +$3,136
• After-tax cash flow: $-6,262/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

-8.0% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $229,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $234,888 OneKey® MLS as Distributed by MLS Grid
• 2026-02-09 Listed $250,000 OneKey® MLS as Distributed by MLS Grid