111-22 66th Ave Unit 2C · New York, NY 11375

$200,000

1 bd · 1.0 ba · 600 sqft · Condo · 196 Days on market

Built 1949 ↓ 5% since listing

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming sunlit 1-bedroom, 1-bathroom co-op located on the 2nd floor of a building in the heart of Forest Hills. This cozy unit boasts an inviting layout with hardwood floors throughout and ample natural light streaming through large windows. The spacious living room is perfect for entertaining or unwinding after a long day, while the kitchen offers abundant cabinet space, making meal prep a breeze. The generously sized bedroom accommodates a king or queen bed and offers closet storage. The bathroom is bright and classic, providing a relaxing retreat. Located just a block from Forest Hills High School, this prime location provides easy access to public transportation, shoppi

Key facts

• Built 1949
• Listed 195 days

Property features AI

Finance

• Other: Living area reported from CubiCasa
• HOA & community: Association: The Gardens at Forest Hills; Association provides landscaping, grounds maintenance, snow removal and trash service

Exterior

• Parking: On-street parking
• Security: Security lights; Smoke detectors
• Utilities: Con Edison electric; Public sewer; Cable available; Electricity available and connected; Natural gas available and connected; Public water available and connected; Trash collection (public)
• Home design: Stock cooperative; One-level unit; Entry on level 2
• Construction: Brick construction
• Exterior features: Brick construction; Security lights; Smoke detectors; Not waterfront

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Room level details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Steam heating; Wall/window air conditioning units
• Interior features: Galley-style kitchen; Storage; Walk-through kitchen; Basement present; One-level unit (entry level 2); Total of 4 rooms; 3 total stories in building; Cats allowed
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: Rents rising fast (+5.3%/yr); 617 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 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 1949 — 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: 1.21% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.3% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,776
• Equity at exit: $29,821

10-year hold

• IRR: 14.7%
• Equity multiple: 2.32×
• Total profit: $73,680
• Equity at exit: $17,292

Cash invested: $56,000 (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 11375

• Rents YoY: 5.3%
• Active inventory: 617
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,414 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $525

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 73%

Sensitivity live

Price	-10% $663	-5% $594	+0% $525	+5% $456	+10% $387
Rent	-10% $334	-5% $430	+0% $525	+5% $620	+10% $716
Rate	-1.0pp $626	-0.5pp $576	base $525	+0.5pp $473	+1.0pp $420

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.06mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	0.29mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	0.34mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	25d	1	0.37mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	20d	1	0.38mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	25d	1	0.39mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	25d	1	0.41mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	0.42mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	5d	1	0.46mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	25d	1	0.55mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	6d	1	0.62mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	0.64mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	25d	1	0.67mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	0.74mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	0.74mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	0.75mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	18d	1	0.75mi
97-12 65th Rd Unit 18-E Rego Park, NY	1.0	1.0	600	$3,650	$6.08	0d	1	0.77mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	6d	1	0.77mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	25d	2	0.78mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	3d	3	0.80mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	25d	3	0.80mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	0.80mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	3d	1	0.87mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	5d	1	0.89mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	6d	3	0.89mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	5d	1	0.90mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	5d	1	0.98mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	8d	1	1.01mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	25d	1	1.04mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	12d	1	1.19mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	25d	1	1.39mi
6820 Selfridge St Unit 3L Forest Hills, NY	—	1.0	500	$1,900	$3.80	25d	1	1.39mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	25d	1	1.48mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $200,000 Active 196 DOM
2. 2026-06-18
   days on market $200,000 Active 193 DOM
3. 2026-06-17
   days on market $200,000 Active 192 DOM
4. 2026-06-15
   days on market $200,000 Active 190 DOM
5. 2026-06-13
   pricedays on market $200,000 Active 188 DOM
6. 2026-06-10
   days on market $210,000 Active 184 DOM
7. 2026-06-08
   days on market $210,000 Active 183 DOM
8. 2026-06-04
   days on market $210,000 Active 179 DOM
9. 2026-06-03
   days on market $210,000 Active 178 DOM
10. 2026-06-01
    days on market $210,000 Active 176 DOM
11. 2026-05-31
    days on market $210,000 Active 175 DOM
12. 2026-03-26
    price $210,000
13. 2026-02-09
    price $215,000
14. 2025-12-08
    listed $220,000 Active
15. 2025-12-01
    historical $220,000

ⓘ 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 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,968
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − Depreciation: −$5,818
• Taxable income: $3,312
• Est. tax owed @ 24.0%: −$795
• After-tax cash flow: $5,504/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): 76,839
• Household income: $105,904
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 4101.0

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 0.67)
• Race & ethnicity: White 47% Asian 28% Hispanic / Latino 16% Two or more races 11% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 4% Italian 2%
• Foreign-born: 43% · China, Canada, Jamaica
• Languages at home: 46% English-only · Chinese 12% Spanish 12% Russian/Polish/Slavic 11%

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: ▼ -155.54%
• Current HPI: 224.4903
• Rent YoY: ▲ 5.30%
• 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

-4.5% since first listed

4 events — show timeline

• 2026-03-26 Price Changed $210,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-08 Listed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Coming Soon $220,000 OneKey® MLS as Distributed by MLS Grid