90-10 32nd Ave #305 · New York, NY 11369

$235,000

1 bd · 1.0 ba · 708 sqft · Condo public records · 210 Days on market

Built 1952 ↓ 6% since listing

---

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 +17.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the sun-drenched sanctuary you have been searching for! This spacious one-bedroom co-op at 90-10 32nd Avenue offers a superb opportunity in the desirable Northridge II complex. The apartment receives tons of natural daylight, creating a bright and welcoming atmosphere throughout. You will love the airy feel created by the fantastic light that pours in from its southern and western exposures. Beyond the great light, this unit offers exceptional storage, a rare and coveted find! You will find a place for everything with the three generous closets, including a convenient coat closet, a dedicated linen closet, and a sizable bedroom closet that easily accommodates your wardrobe. The s

Key facts

• Built 1952
• Listed 209 days

Property features AI

Finance

• HOA & community: Fitness center in community; Park in community

Exterior

• Parking: On-street parking; Private parking; Underground parking; Parking fee (monthly) $45; Waitlist for parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Stock cooperative
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Range
• Bedrooms: 3 rooms total
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: Entrance foyer; Outdoor space (building feature)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $157 ($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 $226k (4.0% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: 112 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 210 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 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 1952 — 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. 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: 0.96% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 8.7

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-28,020
• Equity at exit: $35,039

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-11,351
• Equity at exit: $20,319

Cash invested: $65,800 (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 11369

• Home prices YoY: -26.6%
• Active inventory: 112
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,255 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $157

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 88%

Sensitivity live

Price	-10% $320	-5% $239	+0% $157	+5% $76	+10% $-5
Rent	-10% $-21	-5% $68	+0% $157	+5% $246	+10% $336
Rate	-1.0pp $276	-0.5pp $217	base $157	+0.5pp $97	+1.0pp $35

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10006 32nd Ave East Elmhurst, NY	1.0	1.0	500	$2,500	$5.00	12d	1	0.50mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	26d	1	0.60mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	26d	1	0.62mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	20d	1	0.67mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	26d	1	0.70mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	1d	1	0.79mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	20d	1	0.83mi
40-38 82nd St Apt 3C Elmhurst, NY	—	1.0	350	$1,600	$4.57	25d	1	0.85mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $235,000 Active 210 DOM
2. 2026-06-18
   days on market $235,000 Active 207 DOM
3. 2026-06-17
   days on market $235,000 Active 206 DOM
4. 2026-06-15
   days on market $235,000 Active 204 DOM
5. 2026-06-13
   days on market $235,000 Active 202 DOM
6. 2026-06-10
   days on market $235,000 Active 198 DOM
7. 2026-06-08
   days on market $235,000 Active 197 DOM
8. 2026-06-04
   days on market $235,000 Active 193 DOM
9. 2026-06-03
   days on market $235,000 Active 192 DOM
10. 2026-06-01
    days on market $235,000 Active 190 DOM
11. 2026-05-31
    days on market $235,000 Active 189 DOM
12. 2026-05-05
    price $235,000
13. 2025-11-24
    listed $249,000 Active
14. 2025-11-12
    historical $249,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $27,060
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,165
• − Management: −$2,165
• − Depreciation: −$6,836
• Taxable loss: −$1,970
• Est. tax savings @ 24.0%: +$473
• After-tax cash flow: $2,362/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
• City population: 7,731,280
• Population (ZIP): 33,354

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 59% Black 17% Two or more races 14% Asian 14% White 7%
• Hispanic origin (detail): Mexican 11% Puerto Rican 4% Dominican 12%
• Common ancestry: Hispanic 1% Lithuanian 1% Estonian 1%
• Foreign-born: 53% · Canada, Jamaica, China
• Languages at home: 28% English-only · Spanish 56% Other Indo-European 6% Chinese 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: ▼ -134.70%
• Current HPI: 371.5179
• Rent YoY: —
• Metro: —
• 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

-5.6% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-12 Coming Soon $249,000 OneKey® MLS as Distributed by MLS Grid