251-41 61st Ave #2 · New York, NY 11362

$358,000

2 bd · 1.0 ba · 960 sqft · Condo · 46 Days on market

Built 1952 Average condition

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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 +14.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Deep Dale Garden located in Northeast Queens . This Gorgeous apartment on Top floor is perfectly situated away from the busy street , and offers bright and sunny spacious and warm inviting living room & dining room with large windows with a nice view of the drive-in courtyard, plus a coat closet . & Nice Large eats in kitchen with a new refrigerator, microwave, beautiful cabinets Master Bedroom with double closets . Second bedroom has a closet. One fully upgraded bathroom with standing shower. Full size attic for plenty of storage space. & Low maintenance includes all Utilities( Elect , Gas, Heat and Water) , 2 Stickers for Parking , gardening and snow removal and Real Estate taxes NO FLIP TAX , 24 hours Security, New station for charging electric cars. Access to the playgrounds and Mini-Water Park and the outdoor areas are great for BBQ Ing, relaxing and summer fun! . SD#26 MS#67 PS#221. This coop is conveniently located close to several express Bus lines (QM#5 & QM#8 & QM#35) to Manhattan and easy access LIRR (QM#36) and a few minutes to highways LIE & GCP. Nearby are plenty shopping centers, restaurants and a library.

Key facts

• Large windows
• Drive-in courtyard
• New refrigerator

Tags

• TOP FLOOR
• BRIGHT AND SUNNY LIVING ROOM
• LARGE WINDOWS
• DRIVE-IN COURTYARD
• EATS IN KITCHEN
• NEW REFRIGERATOR

Property features AI

Finance

• HOA & community: Association amenities include basketball court, car wash area, grounds maintenance, parking and snow removal; Association fees cover air conditioning, utilities (electricity, gas, water, sewer, hot water), heat, exterior maintenance, grounds care and snow removal

Exterior

• Parking: Parking lot with two spaces; One garage space; No parking fee
• Security: Intercom (also listed under interior features)
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water; Trash collection (public)
• Home design: Stock cooperative; Two stories; Entry level on the first floor; Second-floor unit location
• Construction: Brick construction
• Exterior features: Brick construction; No waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Located on the second floor
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Intercom; Double-pane windows; Attic with full access, pull-down stairs and storage
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $358k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $51 ($618/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 $320k (10.7% below list).
• Recommended offer: $320k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 165 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 31% of the median local income ($122k/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 $11k 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 46 days — a 3% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $319,689 (10.7% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 11% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.89% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 9.3

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-54,684
• Equity at exit: $53,379

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-43,199
• Equity at exit: $30,953

Cash invested: $100,240 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 165
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,197 high
• Mortgage (P&I): −$1,877
• Tax est. 1.5%: −$448 /mo · $5,370/yr
• Insurance: −$149
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $51

Break-even live

Break-even rent $3,132

Max offer price $358,000

Occupancy floor 93%

Sensitivity live

Price	-10% $299	-5% $175	+0% $51	+5% $-72	+10% $-196
Rent	-10% $-201	-5% $-75	+0% $51	+5% $178	+10% $304
Rate	-1.0pp $232	-0.5pp $143	base $51	+0.5pp $-41	+1.0pp $-136

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: $89,500
• Closing costs: $10,740
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
253-15 60th Ave Unit 2nd Floor Flushing, NY	3.0	2.0	1100	$3,500	$3.18	5d	1	0.14mi
245-63 61st Ave Unit 1FL Flushing, NY	3.0	2.0	1000	$3,000	$3.00	26d	1	0.24mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	27d	1	0.71mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	21d	1	1.03mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	27d	1	1.07mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	27d	1	1.07mi
4245 247th St Little Neck, NY	3.0	1.0	1080	$3,800	$3.52	27d	1	1.08mi
7608 269th St New Hyde Park, NY	3.0	2.0	1031	$4,500	$4.36	0d	1	1.10mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	27d	1	1.11mi
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,200	$3.56	1d	1	1.12mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	6d	1	1.14mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.27mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	27d	1	1.43mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-22
   days on market $358,000 Active 46 DOM
2. 2026-06-21
   days on market $358,000 Active 45 DOM
3. 2026-06-18
   days on market $358,000 Active 42 DOM
4. 2026-06-17
   days on market $358,000 Active 41 DOM
5. 2026-06-16
   days on market $358,000 Active 40 DOM
6. 2026-06-15
   days on market $358,000 Active 39 DOM
7. 2026-06-13
   days on market $358,000 Active 37 DOM
8. 2026-06-10
   days on market $358,000 Active 33 DOM
9. 2026-06-08
   days on market $358,000 Active 32 DOM
10. 2026-06-08
    days on market $358,000 Active 31 DOM
11. 2026-06-04
    days on market $358,000 Active 28 DOM
12. 2026-06-03
    days on market $358,000 Active 27 DOM
13. 2026-06-01
    days on market $358,000 Active 25 DOM
14. 2026-05-31
    days on market $358,000 Active 24 DOM
15. 2026-05-07
    listed $358,000 Active

    Show marketing remark (1185 chars)

    Welcome to Deep Dale Garden located in Northeast Queens . This Gorgeous apartment on Top floor is perfectly situated away from the busy street , and offers bright and sunny spacious and warm inviting living room & dining room with large windows with a nice view of the drive-in courtyard, plus a coat closet . & Nice Large eats in kitchen with a new refrigerator, microwave, beautiful cabinets Master Bedroom with double closets . Second bedroom has a closet. One fully upgraded bathroom with standing shower. Full size attic for plenty of storage space. & Low maintenance includes all Utilities( Elect , Gas, Heat and Water) , 2 Stickers for Parking , gardening and snow removal and Real Estate taxes NO FLIP TAX , 24 hours Security, New station for charging electric cars. Access to the playgrounds and Mini-Water Park and the outdoor areas are great for BBQ Ing, relaxing and summer fun! . SD#26 MS#67 PS#221. This coop is conveniently located close to several express Bus lines (QM#5 & QM#8 & QM#35) to Manhattan and easy access LIRR (QM#36) and a few minutes to highways LIE & GCP. Nearby are plenty shopping centers, restaurants and a library.

16. 2026-05-07
    listed $358,000 Active 1185-char remark

    Show marketing remark (1185 chars)

    Welcome to Deep Dale Garden located in Northeast Queens . This Gorgeous apartment on Top floor is perfectly situated away from the busy street , and offers bright and sunny spacious and warm inviting living room & dining room with large windows with a nice view of the drive-in courtyard, plus a coat closet . & Nice Large eats in kitchen with a new refrigerator, microwave, beautiful cabinets Master Bedroom with double closets . Second bedroom has a closet. One fully upgraded bathroom with standing shower. Full size attic for plenty of storage space. & Low maintenance includes all Utilities( Elect , Gas, Heat and Water) , 2 Stickers for Parking , gardening and snow removal and Real Estate taxes NO FLIP TAX , 24 hours Security, New station for charging electric cars. Access to the playgrounds and Mini-Water Park and the outdoor areas are great for BBQ Ing, relaxing and summer fun! . SD#26 MS#67 PS#221. This coop is conveniently located close to several express Bus lines (QM#5 & QM#8 & QM#35) to Manhattan and easy access LIRR (QM#36) and a few minutes to highways LIE & GCP. Nearby are plenty shopping centers, restaurants and a library.

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,363
• − Mortgage interest: −$20,054
• − Property taxes: −$5,370
• − Insurance: −$1,790
• − Repairs & maintenance: −$3,069
• − Management: −$3,069
• − Depreciation: −$10,415
• Taxable loss: −$5,403
• Est. tax savings @ 24.0%: +$1,297
• After-tax cash flow: $1,915/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

Average 55/100 Cosmetic rehab

This townhouse presents as a good investment opportunity with cosmetic updates needed to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Paint — Paint appears slightly faded
• Minor Lighting — Lighting in living areas could be updated

Value-add opportunities

• Both Paint — Fresh paint can improve the overall appearance and value
• Both Lighting — Upgraded lighting can enhance the ambiance and value
• Both Flooring — New flooring can significantly improve the appearance and value
• Both Kitchen appliances — Upgraded appliances can increase the appeal and value
• Both Bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears slightly faded	Minor	$500–3,000
Lighting · Lighting in living areas could be updated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint — Fresh paint can improve the overall appearance and value ↑
• Both Lighting — Upgraded lighting can enhance the ambiance and value ↑
• Both Flooring — New flooring can significantly improve the appearance and value ↑
• Both Kitchen appliances — Upgraded appliances can increase the appeal and value ↑
• Both Bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and value ↑

ⓘ 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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 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: ▼ -117.12%
• Current HPI: 259.773
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-07 Listed $358,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Listed $358,000 RLS at REBNY