102-45 67th Rd Unit 1P · New York, NY 11375

$235,000

1 bd · 1.0 ba · 700 sqft · Condo · 78 Days on market

Built 1955

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to River Gardens, Pet friendly building in the heart of Forest Hills. High first floor, Lovely one bedroom apartment with spacious living room, dining area, windowed kitchen and bathroom, sizable bedroom , all hardwood floors throughout the apartment and 4 closets. Fantastic opportunity to bring your vision and creative ideas to design your home. The River Gardens is a pet-friendly, well maintained and financially sound co-op that consists of 4 beautifully landscaped buildings in the heart of Forest Hills. Centrally and conveniently located, only half block to 67th Road subway station M & R trains. Near shopping, restaurants, schools, parks, and major highways. Dog allowed up

Key facts

• Windowed kitchen
• 4 closets
• Hardwood floors

Tags

• SPACIOUS LIVING ROOM
• WINDOWED KITCHEN
• HARDWOOD FLOORS
• 4 CLOSETS
• HALF BLOCK TO SUBWAY STATION

Property features AI

Finance

• HOA & community: Association: River Gardens 25/55 Corp.; Association amenities include elevator(s), landscaping, live-in superintendent, grounds maintenance, parking, security, and trash service; Temporary assessment of $141.32 monthly

Exterior

• Parking: One garage space; Parking waitlist with a $150 parking fee
• Security: Building security; Smoke detectors
• Utilities: Electric service by Con Edison; Public sewer; Additional utility details: see remarks
• Home design: Stock cooperative; One-level entry; Located on the first floor; Six-story building
• Construction: Brick exterior; Brick/mortar foundation
• Exterior features: Brick construction; Building security; Smoke detectors; No waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: First-floor bedroom
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas; Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom and full bath; Formal dining area; Double-pane windows; Basement (see remarks); Cats and dogs allowed
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $221k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+5.3%/yr); 617 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 78 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $220,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.05% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.3% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-15,668
• Equity at exit: $35,039

10-year hold

• IRR: 6.1%
• Equity multiple: 1.50×
• Total profit: $33,038
• Equity at exit: $20,319

Cash invested: $65,800 (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 11375

• Rents YoY: 5.3%
• Active inventory: 617
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,468 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $259

Break-even live

Break-even rent $2,140

Max offer price $235,000

Occupancy floor 85%

Sensitivity live

Price	-10% $421	-5% $340	+0% $259	+5% $178	+10% $97
Rent	-10% $64	-5% $161	+0% $259	+5% $356	+10% $454
Rate	-1.0pp $377	-0.5pp $319	base $259	+0.5pp $198	+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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	20d	1	0.03mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	0.04mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	0.09mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	25d	1	0.12mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	25d	1	0.21mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	0.25mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	6d	1	0.27mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	25d	1	0.30mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	25d	1	0.30mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	18d	1	0.38mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.40mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	25d	2	0.40mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	6d	1	0.43mi
97-12 65th Rd Unit 18-E Rego Park, NY	1.0	1.0	600	$3,650	$6.08	0d	1	0.43mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	0.50mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	5d	1	0.52mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	6d	3	0.52mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	25d	1	0.52mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	25d	3	0.61mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	4d	3	0.61mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	3d	1	0.61mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	9d	1	0.65mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	5d	1	0.66mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	0.67mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	5d	1	0.71mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	0.72mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	25d	1	0.72mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	0.73mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	0.73mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	5d	1	0.76mi
9430 58th Ave Unit 3A Elmhurst, NY	—	1.0	530	$1,800	$3.40	12d	1	0.99mi
6820 Selfridge St Unit 3L Forest Hills, NY	—	1.0	500	$1,900	$3.80	25d	1	1.07mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	25d	1	1.20mi
86-16 60th Ave Unit 1K Queens, NY	1.0	1.0	750	$2,300	$3.07	25d	1	1.23mi

HOA detail condo

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

Listing history 2 events

1. 2026-05-05
   status Pending
2. 2026-02-16
   listed $235,000 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,612
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,972
• − Repairs & maintenance: −$2,369
• − Management: −$2,369
• − Depreciation: −$6,836
• Taxable loss: −$624
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $3,257/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): 76,839
• Household income: $105,904
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 4101.0

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 0.67)
• Race & ethnicity: White 47% Asian 28% Hispanic / Latino 16% Two or more races 11% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 4% Italian 2%
• Foreign-born: 43% · China, Canada, Jamaica
• Languages at home: 46% English-only · Chinese 12% Spanish 12% Russian/Polish/Slavic 11%

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: ▼ -155.54%
• Current HPI: 224.4903
• Rent YoY: ▲ 5.30%
• 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

2 events — show timeline

• 2026-05-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Listed $235,000 OneKey® MLS as Distributed by MLS Grid