21-66 33rd Rd Unit 12B · New York, NY 11106

$575,000

2 bd · 1.0 ba · 875 sqft · Condo · 25 Days on market

Built 1950 Good condition

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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 +18.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Rent growth +4.3/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0

Listing remarks

Check out this immaculate and recently renovated two-bedroom apartment in Astoria's highly sought-after Queensview co-op. This terrific home is perched on the twelfth floor of a post-war elevator building. Its high-floor location in the complex ensures it is an exceptionally quiet and peaceful place to live. You will love the beautiful hardwood floors, the updated kitchen with lots of cabinets and counter space, and the abundance of large closets for storage. While the apartment doesn't come with AC, you can easily install window AC units. The building also features a renovated laundry room as well as a convenient bike/stroller room on the ground level. Queensview is truly like no other co-

Key facts

• High-floor location
• Large closets
• Park-like grounds

Tags

• HIGH-FLOOR LOCATION
• HARDWOOD FLOORS
• UPDATED KITCHEN
• LARGE CLOSETS
• RENOVATED LAUNDRY ROOM
• PARK-LIKE GROUNDS

Property features AI

Finance

• HOA & community: Part of Queensview cooperative association

Exterior

• Parking: Common driveway and off-street parking; Parking lot with private unassigned spaces; Parking fee applicable
• Security: Building security; Fire alarm; Fire sprinkler system
• Utilities: Electricity connected (Con Edison); Natural gas connected; Public sewer; Cable available/connected; Phone available; Public trash collection
• Home design: Stock cooperative; Measured living area
• Construction: Brick construction
• Exterior features: Courtyard; Garden; Outdoor lighting; Playground; Basketball court; Bicycle room; Outdoor space

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: One-level unit with rooms on entry level 12
• Flooring: Hardwood; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Eat-in kitchen; Elevator access; Galley-style kitchen; High-speed internet; Pantry; Quartz or quartzite counters; Double-pane windows; Common-area laundry; Energy Star qualified and stainless steel appliances
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $575k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $516 ($6k/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 $568k (1.2% below list).
• Recommended offer: $566k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+7.3%/yr); 106 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $5,683/mo this rent would consume 80% 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 $16k of equity ($4k loan paydown + $12k appreciation (2.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 7.3% rent growth), your $161k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($566k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $566,375 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 8.4

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: 11.1%
• Equity multiple: 1.62×
• Total profit: $99,765
• Equity at exit: $228,797

10-year hold

• IRR: 16.4%
• Equity multiple: 3.43×
• Total profit: $391,271
• Equity at exit: $331,015

Cash invested: $161,000 (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: 106
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $5,683 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,193
• Net cashflow: $516

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 86%

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	11d	3	0.56mi
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	3d	9	0.69mi
888 Main St New York, NY	1.0–3.0	1.0–2.0	963	$5,903	$6.13	6d	7	0.78mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	2d	26	0.90mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$5,580	$10.63	25d	2	1.17mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	25d	1	1.17mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	21d	1	1.19mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	20d	1	1.20mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	943	$7,500	$7.95	8d	3	1.20mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	22d	1	1.21mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	19d	1	1.23mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,890	$12.77	2d	2	1.24mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	8d	2	1.25mi
3 Court Sq W #907 Long Island City, NY	2.0	2.0	930	$6,300	$6.77	25d	1	1.26mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	25d	1	1.29mi
404 E 76th St New York, NY	1.0–2.0	1.0–2.0	1001	$7,500	$7.49	4d	2	1.30mi
435 E 86th St Unit 2001 New York, NY	1.0	1.0	800	$5,480	$6.85	25d	1	1.30mi
885 Main St Unit 6B New York, NY	2.0	2.0	950	$5,320	$5.60	12d	1	1.32mi
885 Main St #705 New York, NY	2.0	2.0	1100	$4,950	$4.50	25d	1	1.32mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	25d	1	1.34mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	25d	1	1.35mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	22d	1	1.35mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$6,748	$9.06	25d	3	1.37mi
411 E 68th St Unit 1021976P New York, NY	2.0	1.0	893	$6,792	$7.61	22d	1	1.38mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	3d	2	1.38mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	22d	1	1.40mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$5,340	$9.71	25d	2	1.41mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	25d	1	1.42mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$17,070	$21.58	4d	2	1.45mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	25d	1	1.46mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$6,840	$9.88	2d	2	1.46mi
305 E 86th St New York, NY	1.0–3.0	1.0–2.0	820	$8,885	$10.83	25d	10	1.47mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$6,815	$6.44	4d	3	1.49mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	21d	1	1.50mi

HOA detail condo

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

Listing history 8 events

1. 2026-06-10
   statusdays on market $575,000 Pending 25 DOM
2. 2026-06-08
   days on market $575,000 Active 24 DOM
3. 2026-06-04
   days on market $575,000 Active 21 DOM
4. 2026-06-03
   days on market $575,000 Active 20 DOM
5. 2026-06-02
   days on market $575,000 Active 19 DOM
6. 2026-06-01
   days on market $575,000 Active 18 DOM
7. 2026-05-31
   days on market $575,000 Active 17 DOM
8. 2026-05-14
   listed $575,000 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: $68,194
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,456
• − Management: −$5,456
• − Depreciation: −$16,727
• Taxable loss: −$3,153
• Est. tax savings @ 24.0%: +$757
• After-tax cash flow: $6,946/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This recently renovated two-bedroom apartment in Astoria is move-in ready with modern amenities and a great location.

Value-add opportunities

• Both install window AC units — improves comfort and energy efficiency
• Both install a smart thermostat — saves energy and improves comfort
• Both install a smart lock — enhances security and convenience

Renovation cost estimate screening

Value-add ROI direction

• Both install window AC units — improves comfort and energy efficiency ↑
• Both install a smart thermostat — saves energy and improves comfort ↑
• Both install a smart lock — enhances security and convenience ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-14 Listed $575,000 OneKey® MLS as Distributed by MLS Grid