3368 21 St Unit 5D · New York, NY 11106

$575,000

3 bd · 1.5 ba · 1,074 sqft · Condo · 65 Days on market

Built 1958 Fair condition

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.0/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0

Listing remarks

This spacious 3 bedroom, 1.5 bathroom Astoria apartment offers almost 1,100 square feet of living space. It is a great opportunity to create a home tailored to your needs in one of Queens’ most desirable neighborhoods. The layout features a large, open living area that works well for both relaxing and entertaining, along with a separate dining space adjacent to the kitchen. The kitchen is functional in its current setup and offers plenty of potential for a modern redesign. Two bathrooms are located off the main hallway, and a small bonus room near the entry adds extra flexibility for storage needs. This apartment is part of North Queensview Co-op, built in 1958. The building offers th

Key facts

• Functional kitchen
• Laundry room
• Two elevators

Tags

• OPEN LIVING AREA
• SEPARATE DINING SPACE
• FUNCTIONAL KITCHEN
• SMALL BONUS ROOM
• TWO ELEVATORS
• LAUNDRY ROOM

Property features AI

Finance

• Other: Sub-lease permitted
• Financial info: Exchange considered; financing via bank mortgage or cash; Flip tax: 25%
• HOA & community: Monthly maintenance fee; Managed by Metro Management Development Inc.; Pets allowed: both cats and dogs; Co-op shares: 35

Exterior

• Parking: Street parking (wait-list)
• Utilities: Electric service; Gas service; Heat (steam/radiator); Sewer; Septic
• Home design: Residential property
• Exterior features: Located on the 5th floor; Building has 364 total units

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Three bedrooms on the first floor
• Flooring: Tile floors
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Steam/radiator heat; One AC unit (wall)
• Interior features: Wall A/C unit; Microwave; Refrigerator
• Laundry & utility: Card-operated laundry in the building

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $575k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $575k).
• Recommended offer: $540k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 (+7.3%/yr); 106 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $6,678/mo this rent would consume 94% of the median local household income ($85k/yr) (locally 3679% 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 $16k of equity ($4k loan paydown + $12k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 7.3% rent growth), your $161k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $540,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.16% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.71%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.06% appreciation · 7.28% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.96×
• Total profit: $154,339
• Equity at exit: $228,797

10-year hold

• IRR: 21.9%
• Equity multiple: 4.25×
• Total profit: $523,394
• Equity at exit: $331,015

Cash invested: $161,000 (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 11106

• Home prices YoY: 0.6%
• Rents YoY: 7.3%
• Active inventory: 106
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $6,678 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,402
• Net cashflow: $1,302

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 76%

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	10d	3	0.57mi
888 Main St New York, NY	1.0–3.0	1.0–2.0	963	$7,375	$7.66	6d	7	0.65mi
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	3d	9	0.73mi
4126 27th St Unit 6D Long Island City, NY	2.0	2.0	1203	$4,990	$4.15	24d	1	0.85mi
30-37 38th St Unit 4 Astoria, NY	3.0	2.0	1200	$5,200	$4.33	13d	1	0.92mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	1d	26	1.03mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	20d	1	1.04mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	943	$9,500	$10.07	7d	3	1.07mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	21d	1	1.09mi
509 E 87th St Apt 4B New York, NY	4.0	2.0	900	$7,150	$7.94	21d	1	1.12mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	24d	1	1.15mi
404 E 76th St New York, NY	1.0–2.0	1.0–2.0	1001	$7,500	$7.49	3d	2	1.16mi
885 Main St Unit 6B New York, NY	2.0	2.0	950	$5,320	$5.60	11d	1	1.17mi
885 Main St #705 New York, NY	2.0	2.0	1100	$4,950	$4.50	24d	1	1.17mi
3 Court Sq W #907 Long Island City, NY	2.0	2.0	930	$6,300	$6.77	24d	1	1.18mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$9,507	$12.76	24d	3	1.21mi
411 E 68th St Unit 1021976P New York, NY	2.0	1.0	893	$6,792	$7.61	21d	1	1.22mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	2d	2	1.23mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$17,070	$21.58	3d	2	1.29mi
255 E 77th St Unit 12B New York, NY	2.0	2.5	1475	$17,500	$11.86	16d	1	1.33mi
1435 2nd Ave Unit 1021957P New York, NY	3.0	2.0	1194	$7,740	$6.48	12d	1	1.33mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$8,790	$8.30	3d	3	1.34mi
305 E 86th St New York, NY	1.0–3.0	1.0–2.0	820	$14,500	$17.67	24d	10	1.36mi
300 E 69th St Unit 1294661P New York, NY	2.0	1.0	839	$6,870	$8.19	19d	1	1.36mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$8,460	$12.10	1d	2	1.37mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$6,840	$9.88	1d	2	1.38mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$9,640	$10.15	3d	2	1.41mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$7,960	$12.51	1d	3	1.45mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	3d	3	1.47mi
301 E 63rd St New York, NY	2.0	1.0	975	$6,650	$6.82	4d	1	1.48mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $575,000 Active 65 DOM
2. 2026-06-17
   days on market $575,000 Active 64 DOM
3. 2026-06-15
   days on market $575,000 Active 62 DOM
4. 2026-06-13
   days on market $575,000 Active 60 DOM
5. 2026-06-10
   days on market $575,000 Active 56 DOM
6. 2026-06-08
   days on market $575,000 Active 55 DOM
7. 2026-06-08
   days on market $575,000 Active 54 DOM
8. 2026-06-04
   days on market $575,000 Active 51 DOM
9. 2026-06-03
   days on market $575,000 Active 50 DOM
10. 2026-06-02
    price $575,000 Active 48 DOM
11. 2026-06-01
    days on market $625,000 Active 48 DOM
12. 2026-05-31
    days on market $625,000 Active 47 DOM
13. 2026-04-13
    listed $625,000 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 1/10 Low FEMA zone X (unshaded) · 0% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,140
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,411
• − Management: −$6,411
• − Depreciation: −$16,727
• Taxable income: $6,881
• Est. tax owed @ 24.0%: −$1,652
• After-tax cash flow: $13,975/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 1.5-bathroom Astoria condo requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, flooring, interior walls, and window treatments.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major flooring — dated and in poor condition
• Major interior walls — peeling paint and outdated wallpaper
• Major window treatments — dated and in poor condition

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value
• Both bathroom renovation — modernizing the bathrooms can increase both resale and rental value
• Both flooring replacement — replacing the dated flooring can increase both resale and rental value
• Both interior wall and paint refresh — refreshing the interior walls and paint can increase both resale and rental value
• Both window treatments — upgrading the window treatments can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
flooring · dated and in poor condition	Major	$15,000–50,000
interior walls · peeling paint and outdated wallpaper	Major	$15,000–50,000
window treatments · dated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathrooms can increase both resale and rental value ↑
• Both flooring replacement — replacing the dated flooring can increase both resale and rental value ↑
• Both interior wall and paint refresh — refreshing the interior walls and paint can increase both resale and rental value ↑
• Both window treatments — upgrading the window treatments can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 40,930
• Household income: $84,867
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 3679.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 42% Hispanic / Latino 27% Asian 19% Two or more races 12% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 4%
• Common ancestry: Scotch-Irish 3% Romanian 3% Estonian 2%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 22% Other Indo-European 13% Russian/Polish/Slavic 4%

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: ▲ 2.06%
• Current HPI: 348.3009
• Rent YoY: ▲ 7.28%
• 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

1 event — show timeline

• 2026-04-13 Listed $625,000 BNYMLS