18-05 215th St Unit 8C · New York, NY 11360

$289,900

1 bd · 1.0 ba · 625 sqft · Condo · 137 Days on market

Built 1966

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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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to worry-free living in this chic and modern 1 bedroom/ 1 bath co-op in the prestigious Waters Edge /Versailles building, on the 8th floor with great water, Bridge and city view from private terrace This unit offers a sophisticated layout with a cheery and bright exposure and central air/heat throughout. But the real value is in the monthly savings: Maintenance $1339 includes ALL utilities plus assessments. Say goodbye to your Con Edison bill! Enjoy the ultimate full-service lifestyle with a 24-hour doorman, a fully-equipped on-site gym, and a sparkling swimming pool for supreme summer relaxation, Indoor Garage parking for a fee of $190/m. The building defines convenience with its

Key facts

• Central air heat
• Garage
• Community pool

Tags

• CENTRAL AIR HEAT
• FULLY EQUIPPED ON SITE GYM
• SPARKLING SWIMMING POOL
• WALKING DISTANCE TO BUS

Property features AI

Finance

• HOA & community: Fitness center; Playground; Pool; Tennis courts

Exterior

• Parking: Assigned parking; Garage with 1 space
• Utilities: Public sewer; Electricity connected; Water connected; Natural gas available
• Home design: Stock cooperative; 17 total stories; Entry level: 8
• Construction: Brick construction
• Exterior features: Outdoor space; Pool/Spa; Waterfront location

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 3 rooms total (includes bedroom(s) on entry level 8)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: First-floor bedroom; Elevator access; Basement (see remarks)
• Laundry & utility: Utilities connected: electricity, water; Natural gas available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-13 ($-159/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 $261k (10.1% below list).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: 219 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 10 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.
• Current owner paid $245k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $255,112 (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 137 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.90% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.47×
• Total profit: $38,160
• Equity at exit: $134,608

10-year hold

• IRR: 10.6%
• Equity multiple: 2.63×
• Total profit: $132,279
• Equity at exit: $210,819

Cash invested: $81,172 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,605 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA est. from 1 same-building comp: −$68
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $-13

Break-even live

Break-even rent $2,622

Max offer price $287,981

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	2d	4	0.07mi
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	24d	1	0.09mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	24d	1	0.09mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.16mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.66mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	1.01mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.41mi

HOA detail condo

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

Listing history 37 events

1. 2026-06-18
   days on market $289,900 Active 137 DOM
2. 2026-06-17
   days on market $289,900 Active 136 DOM
3. 2026-06-15
   days on market $289,900 Active 134 DOM
4. 2026-06-13
   days on market $289,900 Active 132 DOM
5. 2026-06-10
   days on market $289,900 Active 128 DOM
6. 2026-06-08
   days on market $289,900 Active 127 DOM
7. 2026-06-04
   remarks 699-char remark
8. 2026-06-04
   days on market $289,900 Active 123 DOM
9. 2026-06-03
   days on market $289,900 Active 122 DOM
10. 2026-06-01
    days on market $289,900 Active 120 DOM
11. 2026-05-31
    days on market $289,900 Active 119 DOM
12. 2026-02-01
    listed $289,900 Active
13. 2025-03-26
    historical
14. 2025-02-03
    price $335,000
15. 2024-09-25
    listed $338,000 Active
16. 2023-11-24
    historical $2,400
17. 2023-11-23
    listed $2,400
18. 2023-11-16
    historical $2,400
19. 2023-10-21
    listed $2,400
20. 2016-12-01
    historical
21. 2016-09-08
    soldstatus $245,000
22. 2016-09-08
    soldstatus $245,000 Closed
23. 2016-05-19
    status Under Contract
24. 2016-03-14
    listed $259,000 New
25. 2016-03-14
    listed $259,000
26. 2016-01-25
    historical
27. 2016-01-20
    price $285,000
28. 2015-11-30
    listed $329,000 New
29. 2015-06-24
    listed $290,000
30. 2013-10-29
    soldstatus $225,000 Closed
31. 2013-10-29
    soldstatus $1,900
32. 2013-04-24
    status Under Contract
33. 2013-03-15
    price $245,000
34. 2012-12-29
    price $249,000 Price Change
35. 2012-06-15
    listed $259,000 New
36. 2012-06-15
    listed $245,000
37. 2007-05-01
    soldstatus $19,904,621

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,263
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,501
• − Management: −$2,501
• − HOA: −$816
• − Depreciation: −$8,433
• Taxable loss: −$5,025
• Est. tax savings @ 24.0%: +$1,206
• After-tax cash flow: $1,047/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-98.5% since first listed

26 events — show timeline

• 2026-02-01 Listed $289,900 OneKey® MLS as Distributed by MLS Grid
• 2025-03-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-03 Price Changed $335,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-25 Listed $338,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-24 Rental Removed $2,400 ONEKEY
• 2023-11-23 Listed for Rent $2,400 ONEKEY
• 2023-11-16 Rental Removed $2,400 ONEKEY
• 2023-10-21 Listed for Rent $2,400 ONEKEY
• 2016-12-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-09-08 Sold (MLS) $245,000 OneKey® MLS as Distributed by MLS Grid
• 2016-09-08 Sold (MLS) $245,000 MLSLI
• 2016-05-19 Pending — MLSLI
• 2016-03-14 Listed $259,000 MLSLI
• 2016-03-14 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2016-01-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-01-20 Price Changed $285,000 OneKey® MLS as Distributed by MLS Grid
• 2015-11-30 Listed $329,000 OneKey® MLS as Distributed by MLS Grid
• 2015-06-24 Listed $290,000 OneKey® MLS as Distributed by MLS Grid
• 2013-10-29 Sold (MLS) $1,900 OneKey® MLS as Distributed by MLS Grid
• 2013-10-29 Sold (MLS) $225,000 MLSLI
• 2013-04-24 Pending — MLSLI
• 2013-03-15 Price Changed $245,000 MLSLI
• 2012-12-29 Price Changed $249,000 MLSLI
• 2012-06-15 Listed $259,000 MLSLI
• 2012-06-15 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2007-05-01 Sold (Public Records) $19,904,621 Public Records