33-24 Junction Blvd Unit 3M · New York, NY 11372

$230,000

1 bd · 1.0 ba · 800 sqft · Condo · 418 Days on market

Built 1958 ↓ 2% since listing

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Appreciation +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

This one-bedroom apartment boasts a spacious living room/dining area which is partially carpeted. The large bedroom can easily accommodate a king size bed, two end tables, dresser and armoire. There are two large closet and linen closet. Low maintenance including all utilities included. NO DOGS. Private courtyard with sitting area. Transportation, schools, shopping and restaurants within walking distances. State of the are laundry room. Storage bins (waitlisted), private parking garage (waitlisted). Subletting not allowed, subject to Board approval

Key facts

• Garage
• Built 1958
• Listed 418 days

Property features AI

Finance

• HOA & community: Association amenities include elevators and a park; Association covers electricity, gas, hot water, sewer, trash, water, air conditioning and heat

Exterior

• Parking: Garage available (waitlist)
• Utilities: Public sewer; Trash collection; Trash and public utilities included in association
• Home design: Stock cooperative; One level; Total building stories: 6
• Construction: Brick construction
• Exterior features: Brick exterior; Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Gas water heater
• Bedrooms: Entry level: 3
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Oil heating; Radiant heating; No central cooling
• Interior features: Ceiling fans; Galley-style kitchen; Common basement

🏢 Co-op / cooperative unit. The $230,000 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 $230k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 soft (-0.6%/yr); 303 active listings in the ZIP; 13 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).
• This rent runs 37% of the median local income ($79k/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 $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 418 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 418 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.07% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.47%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-22,315
• Equity at exit: $34,294

10-year hold

• IRR: -5.1%
• Equity multiple: 0.71×
• Total profit: $-18,585
• Equity at exit: $19,886

Cash invested: $64,400 (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 11372

• Home prices YoY: -1.5%
• Rents YoY: -0.6%
• Active inventory: 303
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,451 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $347

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 81%

Sensitivity live

Price	-10% $506	-5% $426	+0% $347	+5% $268	+10% $188
Rent	-10% $153	-5% $250	+0% $347	+5% $444	+10% $541
Rate	-1.0pp $463	-0.5pp $406	base $347	+0.5pp $287	+1.0pp $227

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31-40 98th St Unit 2 Flushing, NY	1.0	1.0	800	$2,100	$2.62	8d	1	0.24mi
8910 35th Ave Unit E1L Jackson Heights, NY	2.0	1.0	850	$3,050	$3.59	25d	1	0.39mi
31-47 102nd St Unit 2 fl Flushing, NY	2.0	1.0	650	$2,600	$4.00	25d	1	0.43mi
25-61 99th St Unit 2nd Fl Flushing, NY	2.0	1.0	780	$3,200	$4.10	25d	1	0.46mi
3260 106th St East Elmhurst, NY	1.0	1.0	600	$3,250	$5.42	0d	1	0.58mi
2724 Gillmore St Unit 2 East Elmhurst, NY	1.0	1.0	576	$2,300	$3.99	25d	1	0.58mi
40-24 Aske St Unit 1FL Flushing, NY	1.0	1.0	800	$2,800	$3.50	0d	1	0.61mi
3730 103rd St Corona, NY	1.0	1.0	540	$1,800	$3.33	19d	1	0.61mi
37-27 86th St Unit 6N Flushing, NY	—	1.0	650	$1,900	$2.92	25d	1	0.63mi
3716 83rd St Jackson Heights, NY	1.0	1.0	700	$1,800	$2.57	19d	1	0.73mi
10302 42nd Ave Unit 4D Corona, NY	2.0	1.5	761	$3,400	$4.47	19d	1	0.89mi
8360 Vietor Ave Unit 6P Elmhurst, NY	2.0	1.0	850	$2,650	$3.12	16d	1	0.98mi
54-01 108th St Unit 2R Flushing, NY	2.0	1.0	1000	$3,050	$3.05	25d	1	1.46mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $230,000 Active 418 DOM
2. 2026-06-17
   days on market $230,000 Active 417 DOM
3. 2026-06-15
   days on market $230,000 Active 415 DOM
4. 2026-06-13
   days on market $230,000 Active 413 DOM
5. 2026-06-10
   days on market $230,000 Active 409 DOM
6. 2026-06-08
   days on market $230,000 Active 408 DOM
7. 2026-06-03
   days on market $230,000 Active 403 DOM
8. 2026-06-01
   days on market $230,000 Active 401 DOM
9. 2026-05-31
   days on market $230,000 Active 400 DOM
10. 2026-03-21
    status Active
11. 2025-12-12
    status Pending
12. 2025-07-28
    price $230,000
13. 2025-01-18
    listed $235,000 Active
14. 2025-01-17
    historical $235,000
15. 2024-11-06
    historical
16. 2024-05-07
    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.

Taxation est. · year 1

• Rental income: $29,415
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,353
• − Management: −$2,353
• − Depreciation: −$6,691
• Taxable income: $534
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $4,036/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): 64,756
• Household income: $78,606
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4836.0

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: Hispanic / Latino 55% Asian 21% Two or more races 21% White 18% Black 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, China
• Languages at home: 24% English-only · Spanish 51% Other Indo-European 11% Russian/Polish/Slavic 4%

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: ▼ -3.57%
• Current HPI: 239.6404
• Rent YoY: ▼ -0.59%
• 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

-2.1% since first listed

7 events — show timeline

• 2026-03-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-28 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-18 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-17 Coming Soon $235,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-07 Listed $235,000 OneKey® MLS as Distributed by MLS Grid