41-08 43rd St Unit 1D · New York, NY 11104

$489,000

1 bd · 1.0 ba · 800 sqft · Condo · 43 Days on market

Built 1936

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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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.6/10.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing Spacious Pre-War 1 Bedroom Coop on North side of Queens Blvd. Sunken Living-room, Eat-in windowed Kitchen with new appliances installed in 2019 including Dishwasher. Gorgeous Hardwood Floors throughout. Large Dining Foyer. 3 Closets. The bathroom has been re-tiled and tub has been refinished. Corner bedroom has been divided into 2 bedrooms (Approx. 10'2" x 12' and smaller room approx. 6'3" x 12') Living room has 2 large windows also facing common gardens in rear of building. First floor raised from ground level (so seems like second floor unit). Laundry & Super on premises, Bicycle storage & Storage Lockers available for rent downstairs. No garage, street parking only. Beautiful, cozy Private garden towards the back. Sublet permitted after 5 years of occupancy for up to 5 years.

Key facts

• Custom cabinetry
• Cozy nook for dining
• Extra large foyer

Tags

• FULL SIZE SOUTH FACING WINDOW
• CUSTOM CABINETRY
• COZY NOOK FOR DINING
• EXTRA LARGE FOYER
• SUNKEN LIVING ROOM COMBO
• QUIET WEST FACING VIEWS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $489k.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $451k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $395k (19.3% below list).
• Recommended offer: $395k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 78 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $3,948/mo this rent would consume 59% 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 $13k 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 43 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1936 — 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 $394,766 (19.3% 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 43 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1936 — 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. 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. 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?
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: 0.81% ✗
• Cap rate: 5.65%
• Cash-on-cash: -2.28%
• DSCR: 0.90
• GRM: 10.3

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: -14.7%
• Equity multiple: 0.44×
• Total profit: $-76,231
• Equity at exit: $79,264

10-year hold

• IRR: -2.1%
• Equity multiple: 0.83×
• Total profit: $-22,721
• Equity at exit: $53,272

Cash invested: $136,920 (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: 10.3×

Monthly cashflow live

• Estimated rent: $3,948 medium
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$829
• Net cashflow: $-261

Break-even live

Break-even rent $4,278

Max offer price $451,274

Occupancy floor —

Sensitivity live

Price	-10% $77	-5% $-92	+0% $-261	+5% $-430	+10% $-599
Rent	-10% $-573	-5% $-417	+0% $-261	+5% $-105	+10% $51
Rate	-1.0pp $-14	-0.5pp $-136	base $-261	+0.5pp $-387	+1.0pp $-516

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	622	$3,576	$5.74	0d	23	0.55mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	13d	3	0.80mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	10d	2	1.09mi
3 Court Sq W #907 Long Island City, NY	2.0	2.0	930	$6,300	$6.77	27d	1	1.23mi

HOA detail condo

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

Listing history 5 events

1. 2026-04-08
   status Pending
2. 2026-02-24
   listed $489,000 Active
3. 2021-09-29
   soldstatus $440,000 Closed 815-char remark

   Show marketing remark (815 chars)

   Amazing Spacious Pre-War 1 Bedroom Coop on North side of Queens Blvd. Sunken Living-room, Eat-in windowed Kitchen with new appliances installed in 2019 including Dishwasher. Gorgeous Hardwood Floors throughout. Large Dining Foyer. 3 Closets. The bathroom has been re-tiled and tub has been refinished. Corner bedroom has been divided into 2 bedrooms (Approx. 10'2" x 12' and smaller room approx. 6'3" x 12') Living room has 2 large windows also facing common gardens in rear of building. First floor raised from ground level (so seems like second floor unit). Laundry & Super on premises, Bicycle storage & Storage Lockers available for rent downstairs. No garage, street parking only. Beautiful, cozy Private garden towards the back. Sublet permitted after 5 years of occupancy for up to 5 years.

4. 2021-06-26
   status Pending 815-char remark

   Show marketing remark (815 chars)

   Amazing Spacious Pre-War 1 Bedroom Coop on North side of Queens Blvd. Sunken Living-room, Eat-in windowed Kitchen with new appliances installed in 2019 including Dishwasher. Gorgeous Hardwood Floors throughout. Large Dining Foyer. 3 Closets. The bathroom has been re-tiled and tub has been refinished. Corner bedroom has been divided into 2 bedrooms (Approx. 10'2" x 12' and smaller room approx. 6'3" x 12') Living room has 2 large windows also facing common gardens in rear of building. First floor raised from ground level (so seems like second floor unit). Laundry & Super on premises, Bicycle storage & Storage Lockers available for rent downstairs. No garage, street parking only. Beautiful, cozy Private garden towards the back. Sublet permitted after 5 years of occupancy for up to 5 years.

5. 2021-06-10
   listed $419,000 Active 815-char remark

   Show marketing remark (815 chars)

   Amazing Spacious Pre-War 1 Bedroom Coop on North side of Queens Blvd. Sunken Living-room, Eat-in windowed Kitchen with new appliances installed in 2019 including Dishwasher. Gorgeous Hardwood Floors throughout. Large Dining Foyer. 3 Closets. The bathroom has been re-tiled and tub has been refinished. Corner bedroom has been divided into 2 bedrooms (Approx. 10'2" x 12' and smaller room approx. 6'3" x 12') Living room has 2 large windows also facing common gardens in rear of building. First floor raised from ground level (so seems like second floor unit). Laundry & Super on premises, Bicycle storage & Storage Lockers available for rent downstairs. No garage, street parking only. Beautiful, cozy Private garden towards the back. Sublet permitted after 5 years of occupancy for up to 5 years.

ⓘ 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: $47,372
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,790
• − Management: −$3,790
• − Depreciation: −$14,225
• Taxable loss: −$11,605
• Est. tax savings @ 24.0%: +$2,785
• After-tax cash flow: $-343/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

+16.7% since first listed

5 events — show timeline

• 2026-04-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Listed $489,000 OneKey® MLS as Distributed by MLS Grid
• 2021-09-29 Sold (MLS) $440,000 OneKey® MLS as Distributed by MLS Grid
• 2021-06-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-06-10 Listed $419,000 OneKey® MLS as Distributed by MLS Grid