4720 42nd St Unit 5G · New York, NY 11104

$442,000

1 bd · 1.0 ba · 950 sqft · Condo · 35 Days on market

Built 1938

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Why this score? — see what drove the C- 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 +15.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.6/10.0
• Condition / age +2.5/5.0

Listing remarks

Sunnyside Spacious Extra Large One Bedroom Co-op in The Madison building! This apartment is truly one of the largest one bedrooms Sunnyside has to offer. This fifth-floor unit is streaming with morning sunlight. The apartment has hardwood floors throughout and features a windowed, eat-in kitchen with brand new stainless refrigerator and also has a dishwasher. Spacious corner bedroom with 2 windows and a closet. The enormous living room has open East facing views over the park. There is a renovated tiled bathroom with a storage closet. Monthly maintenance: $825 includes heat, water & taxes. Monthly ASSESSMENT of $161.08 through July 2026. Pet friendly (small to medium size - weight res

Key facts

• On-site laundry room
• Storage lockers
• Enormous living room

Tags

• WINDOWED EAT-IN KITCHEN
• ENORMOUS LIVING ROOM
• RENOVATED TILED BATHROOM
• ON-SITE LAUNDRY ROOM
• STORAGE LOCKERS
• CONVENIENT SUNNYSIDE LOCATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Con Edison electric service; Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Stock cooperative
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: No waterfront

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Stainless steel appliances
• Bedrooms: Total rooms: 4
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other heating; Wall/window AC unit(s)
• Interior features: Basement with storage space and walk-out access; Entry level: 1; Pets allowed (cats OK, breed restrictions)
• Laundry & utility: Laundry room; In-basement laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $442k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $409k (7.5% below list).
• Recommended offer: $409k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+6.3%/yr); 78 active listings in the ZIP; 5 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 $4,089/mo this rent would consume 61% of the median local household income ($81k/yr) (locally 1859% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.7%/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 35 days — a 3% lower offer ($429k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $408,884 (7.5% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.71% appreciation · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.67×
• Total profit: $-40,910
• Equity at exit: $71,645

10-year hold

• IRR: 4.2%
• Equity multiple: 1.37×
• Total profit: $45,470
• Equity at exit: $48,152

Cash invested: $123,760 (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 11104

• Home prices YoY: -1.2%
• Rents YoY: 6.3%
• Active inventory: 78
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $4,089 high
• Mortgage (P&I): −$2,318
• Tax est. 1.5%: −$552 /mo · $6,630/yr
• Insurance: −$184
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $176

Break-even live

Break-even rent $3,867

Max offer price $442,000

Occupancy floor 91%

Sensitivity live

Price	-10% $481	-5% $328	+0% $176	+5% $23	+10% $-130
Rent	-10% $-147	-5% $14	+0% $176	+5% $337	+10% $499
Rate	-1.0pp $398	-0.5pp $288	base $176	+0.5pp $61	+1.0pp $-55

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: $110,500
• Closing costs: $13,260
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$3,576	$5.83	0d	24	0.97mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	8d	2	1.06mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	11d	3	1.07mi
3 Court Sq W #907 Long Island City, NY	2.0	2.0	930	$6,300	$6.77	25d	1	1.22mi
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$4,240	$5.85	25d	2	1.42mi

HOA detail condo

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

Listing history 1 events

1. 2026-04-22
   listed $442,000 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 · 14 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: $49,066
• − Mortgage interest: −$24,759
• − Property taxes: −$6,630
• − Insurance: −$2,210
• − Repairs & maintenance: −$3,925
• − Management: −$3,925
• − Depreciation: −$12,858
• Taxable loss: −$5,242
• Est. tax savings @ 24.0%: +$1,258
• After-tax cash flow: $3,365/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): 26,132
• Household income: $80,709
• Rent vs Own: 79.6% rent · 20.4% own
• Severe rent burden: 1859.0

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 0.70)
• Race & ethnicity: White 38% Asian 28% Hispanic / Latino 27% Two or more races 16% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Scandinavian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 46% · Canada, Jamaica, China
• Languages at home: 38% English-only · Spanish 24% Other Indo-European 18% Other Asian/Pacific 6%

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: ▼ -2.71%
• Current HPI: 224.0688
• Rent YoY: ▲ 6.31%
• 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

• 2026-04-22 Listed $442,000 OneKey® MLS as Distributed by MLS Grid