11-32 31st Ave Unit PHA · New York, NY 11106

$710,000

1 bd · 1.0 ba · 571 sqft · SingleFamily · 96 Days on market

Built 2024 $214/mo HOA · 4% of rent ↓ 9% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Appreciation +6.0/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.1/10.0

Listing remarks

Introducing Residence PHA at VELA, a beautifully designed 1-bedroom and 1-bathroom condo in Astoria, a sanctuary that seamlessly blends the elegance of West Astoria with the allure of modern design. The entryway provides a coat closet and foyer leading into the kitchen. Outfitted with maintenance-free quartz countertops and backsplash that harmonizes perfectly with sleek imported chestnut and white-lacquer cabinetry, the open kitchen is the perfect place to prep a delicious meal. State-of-the-art stainless steel appliances include a Bertazzoni gas oven and paneled dishwasher-the stackable washer and dryer is whisper-quiet and efficient. And for that dash of Nordic charm, Scandinavian-desig

Key facts

• Private balcony
• $214 HOA
• Garage

Tags

• PRIVATE BALCONY

Property features AI

Finance

• Other: Building contains 29 total units
• HOA & community: Monthly association fee of $214; Pets allowed in building

Exterior

• Parking: Has garage
• Home design: Located on the 8th (entry) level; New construction; Zoning: R7A; 8-story building named Vela
• Construction: New construction
• Exterior features: Balcony; Building roof deck; Private outdoor space over 60 sqft; North exposure; Has a view

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless cooling
• Interior features: Total of 3 rooms; Basement: Other; Building allows bike storage
• Laundry & utility: Washer hookup in unit; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $710k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $555k (21.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $512k (27.8% below list).
• Recommended offer: $512k (27.8% below list) — sets the bar for 1% rule.
• Cap rate 4.5% 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 (+7.3%/yr); 109 active listings in the ZIP; 40 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 $5,124/mo this rent would consume 72% 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 $20k of equity ($5k loan paydown + $15k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($646k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $90k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $512,408 (27.8% 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 96 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.72% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.47%
• DSCR: 0.71
• GRM: 11.5

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: 0.5%
• Equity multiple: 1.03×
• Total profit: $5,910
• Equity at exit: $282,514

10-year hold

• IRR: 6.9%
• Equity multiple: 2.02×
• Total profit: $203,114
• Equity at exit: $408,732

Cash invested: $198,800 (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: 109
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $5,124 high
• Mortgage (P&I): −$3,723
• Tax est. 1.5%: −$888 /mo · $10,650/yr
• Insurance: −$296
• HOA: −$214
• Vacancy / Maint / Mgmt: −$1,076
• Net cashflow: $-1,073

Break-even live

Break-even rent $6,482

Max offer price $554,789

Occupancy floor —

Sensitivity live

Price	-10% $-582	-5% $-827	+0% $-1,073	+5% $-1,318	+10% $-1,563
Rent	-10% $-1,477	-5% $-1,275	+0% $-1,073	+5% $-870	+10% $-668
Rate	-1.0pp $-715	-0.5pp $-892	base $-1,073	+0.5pp $-1,257	+1.0pp $-1,444

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: $177,500
• Closing costs: $21,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$3,237	$3.65	5d	9	0.39mi
888 Main St New York, NY	3.0	1.0–2.0	908	$4,928	$5.43	1d	8	0.52mi
515 E 86th St Unit 1760 New York, NY	1.0	1.0	485	$5,360	$11.05	1d	1	0.80mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	22d	1	0.80mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	26d	2	0.81mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,050	$11.41	1d	2	0.83mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	24d	1	0.85mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	20d	1	0.92mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	12d	3	0.98mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	26d	1	1.00mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,520	$7.97	1d	2	1.04mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	26d	1	1.06mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	24d	1	1.06mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	26d	1	1.07mi
315 E 78th St Unit 1021847P New York, NY	1.0	1.0	516	$4,880	$9.46	22d	1	1.10mi
315 E 78th St Unit 1021885P New York, NY	1.0	1.0	516	$6,242	$12.10	1d	1	1.10mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	24d	1	1.10mi
315 E 78th St Unit 1021994P New York, NY	1.0	1.0	441	$5,037	$11.42	22d	1	1.10mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	26d	1	1.11mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	5d	3	1.11mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	26d	1	1.12mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	26d	2	1.13mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	5d	2	1.14mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	22d	1	1.16mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	26d	3	1.22mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	22d	1	1.22mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	4d	2	1.23mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$6,715	$10.55	3d	3	1.23mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	1d	2	1.24mi
240e E 75th St Unit 1021876P New York, NY	—	1.0	441	$5,981	$13.56	9d	1	1.24mi
240e E 75th St Unit 1021873P New York, NY	—	1.0	441	$5,227	$11.85	7d	1	1.24mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	20d	1	1.25mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$3,576	$5.83	0d	22	1.31mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,420	$7.32	1d	2	1.31mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	8d	1	1.33mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,810	$10.89	1d	1	1.34mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	5d	2	1.34mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	3d	2	1.35mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	4d	2	1.41mi
403 E 62nd St Unit 14C New York, NY	1.0	1.0	650	$4,900	$7.54	24d	1	1.46mi

HOA detail

• Monthly dues: $214 · $2,568/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-21
   days on market $710,000 Active 96 DOM
2. 2026-06-18
   days on market $710,000 Active 93 DOM
3. 2026-06-17
   days on market $710,000 Active 92 DOM
4. 2026-06-15
   days on market $710,000 Active 90 DOM
5. 2026-06-13
   days on market $710,000 Active 88 DOM
6. 2026-06-10
   days on market $710,000 Active 84 DOM
7. 2026-06-08
   days on market $710,000 Active 83 DOM
8. 2026-06-08
   days on market $710,000 Active 82 DOM
9. 2026-06-04
   days on market $710,000 Active 79 DOM
10. 2026-06-03
    days on market $710,000 Active 78 DOM
11. 2026-06-01
    days on market $710,000 Active 76 DOM
12. 2026-05-31
    days on market $710,000 Active 75 DOM
13. 2026-05-12
    price $710,000
14. 2026-04-19
    price $710,000
15. 2026-04-01
    price $750,000
16. 2026-03-26
    price $750,000
17. 2026-03-17
    listed $800,000 Active
18. 2026-03-17
    listed $800,000 Active
19. 2024-10-25
    price $785,000
20. 2024-10-24
    listed $778,000 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: $61,489
• − Mortgage interest: −$39,771
• − Property taxes: −$10,650
• − Insurance: −$3,550
• − Repairs & maintenance: −$4,919
• − Management: −$4,919
• − HOA: −$2,568
• − Depreciation: −$20,655
• Taxable loss: −$25,543
• Est. tax savings @ 24.0%: +$6,130
• After-tax cash flow: $-6,741/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): 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

-8.7% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $710,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $710,000 RLS at REBNY
• 2026-04-01 Price Changed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $750,000 RLS at REBNY
• 2026-03-17 Listed $800,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-17 Listed $800,000 RLS at REBNY
• 2024-10-25 Price Changed $785,000 RLS at REBNY
• 2024-10-24 Listed $778,000 RLS at REBNY