83-15 116 St Unit 6K · New York, NY 11418

$190,000

1 bd · 1.0 ba · 400 sqft · Condo public records · 83 Days on market

Built 1931

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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 +8.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect canvas for your dream home in this top-floor, one-bedroom, one-bath co-op located in a charming, elevator building in the heart of Kew Gardens. This spacious apartment has 9’ ceilings throughout, a bedroom measuring 18’ x 12'7'', and a walk-in closet. The building offers a peaceful courtyard, laundry room, bike storage, and a live-in super for your convenience. Best of all, pets are welcome! With a low maintenance of only $636/month, this is a fantastic opportunity for first-time buyers, downsizers, or anyone seeking value and potential in a well-maintained, pre-war co-op community. Enjoy a prime location near Forest Park, Metropolitan Avenue’s shops

Key facts

• Laundry room
• Peaceful courtyard
• Live-in super

Tags

• TOP-FLOOR
• ELEVATOR BUILDING
• PEACEFUL COURTYARD
• LAUNDRY ROOM
• BIKE STORAGE
• LIVE-IN SUPER

Property features AI

Finance

• HOA & community: Elevator(s); Building Link; Landscaping; Live-in super; HOA covers common area maintenance, exterior maintenance, grounds care, heat, hot water, sewer, snow removal, trash, and water

Exterior

• Parking: On-street parking
• Utilities: Con Edison electric; Public sewer; Cable available; Electricity connected
• Home design: Stock cooperative
• Construction: Brick construction; Basement (common)
• Exterior features: Outdoor space; Bicycle room

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: 2 total rooms
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning unit(s)
• Interior features: Ceiling fans; Entrance foyer; High ceilings; Open kitchen; Storage; Walk-in closet(s)

🏢 Co-op / cooperative unit. The $190,000 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 1-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-171 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.2% 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 (+6.6%/yr); 102 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 83 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,600 (6.0% 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 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1931 — 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: 1.05% ✓
• Cap rate: 5.21%
• Cash-on-cash: -3.85%
• DSCR: 0.83
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.56% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.36×
• Total profit: $-33,966
• Equity at exit: $28,330

10-year hold

• IRR: -2.2%
• Equity multiple: 0.82×
• Total profit: $-9,676
• Equity at exit: $16,428

Cash invested: $53,200 (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 11418

• Rents YoY: 6.6%
• Active inventory: 102
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA est. from 1 same-building comp: −$435
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-171

Break-even live

Break-even rent $2,213

Max offer price $165,277

Occupancy floor —

Sensitivity live

Price	-10% $-40	-5% $-105	+0% $-171	+5% $-237	+10% $-302
Rent	-10% $-329	-5% $-250	+0% $-171	+5% $-92	+10% $-13
Rate	-1.0pp $-75	-0.5pp $-123	base $-171	+0.5pp $-220	+1.0pp $-270

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 5 events

1. 2026-04-15
   status Pending
2. 2026-03-14
   status Active
3. 2025-12-16
   status Pending
4. 2025-12-16
   price $190,000
5. 2025-10-23
   listed $160,000 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 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,957
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − HOA: −$5,220
• − Depreciation: −$5,527
• Taxable loss: −$5,066
• Est. tax savings @ 24.0%: +$1,216
• After-tax cash flow: $-834/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): 35,481
• Household income: $90,156
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 1757.0

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 0.74)
• Race & ethnicity: Hispanic / Latino 41% Asian 24% White 18% Two or more races 16% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Dominican 7%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 49% · Canada, Jamaica, China
• Languages at home: 41% English-only · Spanish 35% Other Indo-European 15% Russian/Polish/Slavic 3%

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: ▼ -254.94%
• Current HPI: 300.6551
• Rent YoY: ▲ 6.56%
• 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

+18.8% since first listed

5 events — show timeline

• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Listed $160,000 OneKey® MLS as Distributed by MLS Grid