209-25 18th Ave Unit 6D · New York, NY 11360

$398,000

3 bd · 2.0 ba · 1,165 sqft · Condo · 27 Days on market

Built 1960 Average condition ↓ 12% since listing

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Cash flow +1.6/30.0
• DSCR +0.0/10.0

Listing remarks

Very Rare spacious 3 Bedroom 2 full bath corner apartment in Bay Terrace. Total Maintenance Of $1969 Includes 2 Air Conditioners, Dishwasher, Gas & Electric. Purchaser will get 1 assigned parking space for an additional $20/month. Dining Room can be converted to 4th bedroom/office. Laundry room in Lobby. Playground, Basketball court. Close to Bay Terrace shopping center, Library, Elementary / Middle School, Express Bus, Local Bus. Common Point (Pool, Tennis & Pickleball) Fort Totten, Little Bay Park, Clearview Golf Course.

Key facts

• Laundry room
• Basketball court
• Corner apartment

Tags

• CORNER APARTMENT
• ASSIGNED PARKING SPACE
• LAUNDRY ROOM
• PLAYGROUND
• BASKETBALL COURT
• BAY TERRACE SHOPPING CENTER

Property features AI

Exterior

• Parking: Assigned parking (1 space); Parking fee required
• Security: Video cameras
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative; 6-story building; One-level unit; Top floor / entry level 6
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Basketball hoop; Playground; Bicycle room

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven
• Bedrooms: Top floor unit (entry level: 6)
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Steam heat; Wall/window unit(s) for cooling
• Interior features: Elevator; Entrance foyer; Walk-through kitchen; Walk-in closet(s); Accessible entrance; Laundry room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $398k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $352k (11.5% below list).
• Recommended offer: $352k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 1.7% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 219 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 43% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($392k) 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: HOA is 44% of rent.
• 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 $352,241 (11.5% 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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 0.89% ✗
• Cap rate: 1.67%
• Cash-on-cash: -16.52%
• DSCR: 0.27
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.61×
• Total profit: $-43,234
• Equity at exit: $184,802

10-year hold

• IRR: -1.2%
• Equity multiple: 0.80×
• Total profit: $-22,285
• Equity at exit: $289,431

Cash invested: $111,440 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,522 high
• Mortgage (P&I): −$2,087
• Tax est. 1.5%: −$498 /mo · $5,970/yr
• Insurance: −$166
• HOA est. from 2 same-building comps: −$1,566
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $-1,534

Break-even live

Break-even rent $5,464

Max offer price $176,059

Occupancy floor —

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: $99,500
• Closing costs: $11,940
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15-47 209th St #2 Flushing, NY	3.0	2.0	1250	$3,800	$3.04	24d	1	0.19mi
14-21 Bell Blvd Unit 2 Flushing, NY	3.0	2.0	1250	$3,600	$2.88	15d	1	0.44mi
27-30 Francis Lewis Blvd Unit 2nd FLOOR Flushing, NY	4.0	1.0	1100	$3,150	$2.86	12d	1	0.92mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	24d	1	1.05mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	1.11mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	22d	1	1.29mi
208-12 39th Ave Bayside, NY	3.0	1.0	950	$3,150	$3.32	7d	1	1.33mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.36mi
1001 154th St Whitestone, NY	2.0	1.0	900	$3,300	$3.67	24d	1	1.41mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.43mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	3d	1	1.44mi
207-07 42nd Ave Unit 2 Flushing, NY	2.0	2.0	1395	$3,900	$2.80	3d	1	1.45mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $398,000 Active 27 DOM
2. 2026-06-17
   days on market $398,000 Active 26 DOM
3. 2026-06-16
   days on market $398,000 Active 25 DOM
4. 2026-06-15
   days on market $398,000 Active 24 DOM
5. 2026-06-13
   days on market $398,000 Active 22 DOM
6. 2026-06-10
   days on market $398,000 Active 18 DOM
7. 2026-06-08
   days on market $398,000 Active 17 DOM
8. 2026-06-08
   days on market $398,000 Active 16 DOM
9. 2026-06-04
   days on market $398,000 Active 13 DOM
10. 2026-06-03
    days on market $398,000 Active 12 DOM
11. 2026-06-02
    days on market $398,000 Active 11 DOM
12. 2026-06-01
    days on market $398,000 Active 10 DOM
13. 2026-05-31
    days on market $398,000 Active 9 DOM
14. 2026-05-22
    listed $398,000 Active
15. 2026-03-10
    status Pending
16. 2026-01-16
    price $398,000
17. 2025-11-08
    listed $450,000 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 ≥98°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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,269
• − Mortgage interest: −$22,294
• − Property taxes: −$5,970
• − Insurance: −$1,990
• − Repairs & maintenance: −$3,382
• − Management: −$3,382
• − HOA: −$18,792
• − Depreciation: −$11,578
• Taxable loss: −$25,118
• Est. tax savings @ 24.0%: +$6,028
• After-tax cash flow: $-12,377/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 spacious 3-bedroom condo in Bay Terrace requires minor cosmetic updates to its kitchen and bathrooms, along with fresh paint and new flooring. The property's location and amenities make it a good investment opportunity.

Repairs flagged

• Minor Kitchen cabinets — Worn wood cabinets need touch-up paint.
• Minor Bathroom tiles — Blue tiles need cleaning and touch-up paint.
• Minor Living room carpet — Carpet needs cleaning and possibly replacement.

Value-add opportunities

• Both Painting throughout — Fresh paint enhances curb appeal and interior aesthetics.
• Both New flooring in living areas — New carpet or hardwood flooring improves aesthetics and value.
• Both New kitchen cabinets and countertops — Modern kitchen updates attract more buyers and renters.
• Both New bathroom tiles and fixtures — Fresh bathroom updates improve functionality and aesthetics.
• Both Landscaping and curb appeal improvements — Enhanced landscaping increases curb appeal and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn wood cabinets need touch-up paint.	Minor	$500–3,000
Bathroom tiles · Blue tiles need cleaning and touch-up paint.	Minor	$500–3,000
Living room carpet · Carpet needs cleaning and possibly replacement.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting throughout — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both New flooring in living areas — New carpet or hardwood flooring improves aesthetics and value. ↑
• Both New kitchen cabinets and countertops — Modern kitchen updates attract more buyers and renters. ↑
• Both New bathroom tiles and fixtures — Fresh bathroom updates improve functionality and aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhanced landscaping increases curb appeal and property 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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-11.6% since first listed

4 events — show timeline

• 2026-05-22 Listed $398,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Price Changed $398,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-08 Listed $450,000 OneKey® MLS as Distributed by MLS Grid