144-55 Melbourne Ave Unit 4A · New York, NY 11367

$169,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 493 Days on market

Built 1954 ↓ 27% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner Occupied (No Sublets) This is the largest 2BR/1BA Coop Unit In The Building, Well Maintained, and has a Lot of Closets, and an Eat-in kitchen DR/LR, and All utilities are included. Eat in Kitchen, Dishwasher. Laundry, Outdoor / Indoor Parking, Bike-room, Storage Room, Outdoor Sitting Area. Close To Transportation, City-Bus, Easy Access To major highways, Close To Shopping Center, Queens Library, Post Office, Schools, Supermarket, Etc. All Information Deemed Accurate However Should Be Independently Verified

Key facts

• Indoor parking
• Bike-room
• Eat in kitchen

Tags

• EAT IN KITCHEN
• DISHWASHER
• LAUNDRY
• OUTDOOR PARKING
• INDOOR PARKING
• BIKE-ROOM

Property features AI

Finance

• HOA & community: Building amenities include elevator(s), live-in superintendent, grounds maintenance, parking, playground, security, snow removal, and trash service

Exterior

• Parking: 1-car garage; Parking fee required
• Security: Building security (association amenity)
• Utilities: Public sewer; See remarks for additional utilities
• Home design: Stock cooperative; 6 total stories; Actual property condition
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total rooms: 4 (includes bedroom count in rooms total)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Wall/window air conditioning unit(s)
• Interior features: Eat-in kitchen; Elevator access; Entrance foyer; Accessible entrance
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $169,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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: 259 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $2,954/mo this rent would consume 47% of the median local household income ($75k/yr) (locally 2010% 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 (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $47k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 493 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 493 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 1954 — 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: 1.75% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.56%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.1%
• Equity multiple: 1.99×
• Total profit: $46,893
• Equity at exit: $25,198

10-year hold

• IRR: 31.9%
• Equity multiple: 3.89×
• Total profit: $136,602
• Equity at exit: $14,612

Cash invested: $47,320 (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 11367

• Active inventory: 259
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,954 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $1,166

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 56%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63-39 136th St Unit 2 Flushing, NY	3.0	2.0	800	$3,200	$4.00	24d	1	0.44mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.62mi
15022 58th Ave Flushing, NY	3.0	1.5	1224	$3,300	$2.70	15d	1	0.73mi
150-32 Booth Memorial Ave Unit 1st FL Flushing, NY	3.0	2.0	1080	$3,350	$3.10	17d	1	0.78mi
142-23 Booth Memorial Ave Unit 1 Flushing, NY	3.0	1.0	1064	$3,200	$3.01	5d	1	0.83mi
71-82 Parsons Blvd Unit 702 Kew Gardens Hills, NY	1.0	1.0	1000	$2,900	$2.90	20d	1	0.83mi
71-82 Parsons Blvd Unit 503 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	24d	1	0.83mi
71-82 Parsons Blvd Unit 303 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	14d	1	0.83mi
71-82 Parsons Blvd Unit 516 Kew Gardens Hills, NY	2.0	1.5	900	$3,500	$3.89	3d	1	0.83mi
13225 58th Ave Flushing, NY	3.0	3.0	1300	$3,500	$2.69	4d	1	0.92mi
7157 161 St Apt 5B Flushing, NY	2.0	2.0	1100	$2,600	$2.36	24d	1	0.96mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	2d	1	1.00mi
7133 162nd St Unit 3F Fresh Meadows, NY	2.0	2.0	850	$2,700	$3.18	24d	1	1.00mi
144-41 78th Ave Unit 3 Flushing, NY	3.0	2.0	750	$3,500	$4.67	24d	1	1.01mi
144-41 78th Ave Unit 3 Flushing, NY	3.0	2.0	750	$3,300	$4.40	4d	1	1.01mi
15325 77th Rd Flushing, NY	3.0	1.0	1224	$3,200	$2.61	24d	1	1.04mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	24d	1	1.07mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	1.09mi
110-55 64th Rd Unit 25 Forest Hills, NY	2.0	2.0	1300	$3,400	$2.62	7d	1	1.09mi
11105 66th Ave Unit 2B Forest Hills, NY	1.0	1.0	850	$2,600	$3.06	15d	1	1.09mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	1.10mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.10mi
61-20 Grand Central Pkwy Unit A 106 Forest Hills, NY	2.0	2.0	1300	$3,100	$2.38	19d	1	1.15mi
165-23 65th Ave Unit 2 Flushing, NY	3.0	1.5	1200	$3,000	$2.50	22d	1	1.17mi
61-20 Grand Central Pkwy Unit Bb706 Forest Hills, NY	2.0	1.0	970	$2,850	$2.94	19d	1	1.21mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	14d	1	1.22mi
79-29 153rd St Unit 1st Floor Flushing, NY	3.0	1.0	1200	$3,000	$2.50	24d	1	1.24mi
6945 108th St Unit 3F Forest Hills, NY	2.0	1.0	900	$3,600	$4.00	6d	1	1.25mi
10530 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	800	$2,200	$2.75	24d	1	1.28mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	19d	1	1.29mi
10533 66th Ave Unit 3F Forest Hills, NY	1.0	1.0	775	$2,200	$2.84	4d	1	1.30mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	4d	1	1.32mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,900	$5.57	5d	2	1.32mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	24d	1	1.32mi
13119 Fowler Ave Unit 7C Flushing, NY	2.0	2.0	810	$3,300	$4.07	19d	1	1.32mi
81-18 138th St Unit 3 Jamaica, NY	3.0	2.0	1000	$3,900	$3.90	24d	1	1.33mi
10523 65th Rd Forest Hills, NY	2.0	2.0	760	$3,200	$4.21	24d	1	1.33mi
133-38 Avery Ave Unit 3F-B Flushing, NY	2.0	2.0	884	$2,600	$2.94	24d	1	1.34mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	19d	1	1.34mi
10525 65th Ave Unit 4F Forest Hills, NY	2.0	1.0	980	$3,998	$4.08	15d	1	1.34mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $169,000 Active 493 DOM
2. 2026-06-17
   days on market $169,000 Active 492 DOM
3. 2026-06-15
   days on market $169,000 Active 490 DOM
4. 2026-06-13
   days on market $169,000 Active 488 DOM
5. 2026-06-10
   days on market $169,000 Active 484 DOM
6. 2026-06-08
   days on market $169,000 Active 483 DOM
7. 2026-06-03
   days on market $169,000 Active 478 DOM
8. 2026-06-01
   days on market $169,000 Active 476 DOM
9. 2026-05-31
   days on market $169,000 Active 475 DOM
10. 2026-04-27
    price $169,000
11. 2026-04-10
    price $179,999
12. 2026-03-04
    price $189,999
13. 2026-03-04
    price $189,900
14. 2026-01-13
    price $199,000
15. 2025-05-19
    price $215,000
16. 2025-02-10
    listed $230,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $35,445
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$2,836
• − Management: −$2,836
• − Depreciation: −$4,916
• Taxable income: $12,011
• Est. tax owed @ 24.0%: −$2,883
• After-tax cash flow: $11,104/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• Rent YoY: —
• 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

-26.5% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $179,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $189,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $189,900 OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-19 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-10 Listed $230,000 OneKey® MLS as Distributed by MLS Grid