83-20 98 St Unit 1H · New York, NY 11421

$269,900

2 bd · 1.0 ba · 900 sqft · Condo · 194 Days on market

Built 1954 ↓ 7% 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).

• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-kept two-bedroom co-op apartment in the highly sought-after Forest Park Co-op. Nestled among lush trees and greenery, this residence offers a peaceful and scenic environment that’s truly a pleasure to come home to. The Apartment is located on high first floor and features a spacious living room, a dedicated dining area, two comfortable bedrooms, and an eat-in kitchen—making it ideal for both everyday living and entertaining guests. One of the standout features is the all-inclusive monthly maintenance fee, which covers electric, gas, water, heat, and real estate taxes—adding exceptional value and simplicity to your monthly expenses. Residents enjoy prac

Key facts

• Security cameras
• Bike room
• Eat-in kitchen

Tags

• DEDICATED DINING AREA
• EAT-IN KITCHEN
• ON-SITE LAUNDRY FACILITIES
• BIKE ROOM
• SECURITY CAMERAS
• CONVENIENT LOCATION NEAR SHOPS

Property features AI

Finance

• Other: Located in Queens County
• HOA & community: Monthly association fee; Additional monthly fee of $25 for each A/C

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Cats allowed
• Laundry & utility: No basement

🏢 Co-op / cooperative unit. The $269,900 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 $270k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.9% 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: 140 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 38% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 194 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,512 (12.0% 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 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.07% ✓
• Cap rate: 4.87%
• Cash-on-cash: -5.08%
• DSCR: 0.77
• GRM: 7.8

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: -24.7%
• Equity multiple: 0.16×
• Total profit: $-63,612
• Equity at exit: $40,243

10-year hold

• IRR: -19.6%
• Equity multiple: -0.05×
• Total profit: $-79,622
• Equity at exit: $23,336

Cash invested: $75,572 (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 11421

• Active inventory: 140
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,880 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA est. from 1 same-building comp: −$730
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $-320

Break-even live

Break-even rent $3,285

Max offer price $223,623

Occupancy floor —

Sensitivity live

Price	-10% $-133	-5% $-227	+0% $-320	+5% $-413	+10% $-506
Rent	-10% $-547	-5% $-434	+0% $-320	+5% $-206	+10% $-92
Rate	-1.0pp $-184	-0.5pp $-251	base $-320	+0.5pp $-390	+1.0pp $-461

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8456 98th St Woodhaven, NY	1.0	1.0	1092	$2,500	$2.29	12d	1	0.06mi
85-20 85th Rd Unit 2nd Floor Jamaica, NY	3.0	1.0	1100	$3,200	$2.91	20d	1	0.46mi
94-17 90th Ave Unit 2nd Floor Jamaica, NY	3.0	2.0	1040	$3,000	$2.88	8d	1	0.56mi
88-23 85th St Unit 1L Jamaica, NY	3.0	1.0	1000	$3,300	$3.30	26d	1	0.69mi
78-68 84th St Unit 2 Flushing, NY	2.0	1.0	800	$3,500	$4.38	26d	1	0.76mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	26d	1	0.89mi
76-09 88th Ave Unit 1 Woodhaven, NY	3.0	2.0	960	$3,700	$3.85	21d	1	0.93mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	6d	2	0.94mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,600	$3.25	0d	1	0.94mi
88-18 77th St Unit 2 Jamaica, NY	3.0	1.0	913	$3,295	$3.61	26d	1	0.95mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	26d	1	0.98mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	0.98mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	26d	1	1.02mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	26d	1	1.02mi
90-18 77th St Unit 2 Jamaica, NY	3.0	1.0	913	$3,295	$3.61	26d	1	1.04mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$3,200	$3.56	26d	2	1.06mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	16d	1	1.06mi
97-56 105th St #2 Ozone Park, NY	3.0	2.0	1000	$3,811	$3.81	26d	1	1.11mi
91-04 75th St Unit 1 Jamaica, NY	1.0	1.0	600	$2,100	$3.50	26d	1	1.16mi
91-04 75th St Unit 2 Jamaica, NY	3.0	1.0	800	$3,700	$4.62	26d	1	1.16mi
91-19 75th St #1 Woodhaven, NY	1.0	1.0	600	$2,100	$3.50	9d	1	1.16mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	26d	1	1.19mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	26d	1	1.26mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	22d	2	1.27mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	0d	2	1.27mi
8711 123rd St Richmond Hill, NY	3.0	1.0	1000	$3,000	$3.00	5d	1	1.32mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	26d	1	1.32mi
12401 Hillside Ave Richmond Hill, NY	2.0	1.0	800	$2,700	$3.38	0d	1	1.34mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	26d	1	1.34mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,600	$3.09	0d	1	1.40mi
9105 107th Ave Ozone Park, NY	1.0	1.0	648	$2,400	$3.70	20d	1	1.43mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	20d	1	1.47mi

HOA detail condo

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

Listing history 8 events

1. 2026-05-08
   status Pending
2. 2026-04-20
   price $269,900
3. 2026-03-27
   price $272,000
4. 2026-03-09
   price $282,000
5. 2025-12-26
   status Active
6. 2025-09-27
   status Pending
7. 2025-09-10
   status Active
8. 2025-07-09
   listed $289,000 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 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $34,563
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,765
• − Management: −$2,765
• − HOA: −$8,760
• − Depreciation: −$7,852
• Taxable loss: −$8,095
• Est. tax savings @ 24.0%: +$1,943
• After-tax cash flow: $-1,895/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): 40,612
• Household income: $90,685
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1540.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 56% Two or more races 24% Asian 20% White 13% Black 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 9% Dominican 18%
• Common ancestry: Romanian 2%
• Foreign-born: 52% · Canada, China, Jamaica
• Languages at home: 30% English-only · Spanish 46% Chinese 9% Other Indo-European 7%

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: ▼ -409.05%
• Current HPI: 298.1143
• 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

-6.6% since first listed

8 events — show timeline

• 2026-05-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $269,900 OneKey® MLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $272,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $282,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-09 Listed $289,000 OneKey® MLS as Distributed by MLS Grid