204-12 35th Ave #254 · New York, NY 11361

$253,000

1 bd · 1.0 ba · 700 sqft · Condo · 12 Days on market

Built 1950

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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 +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this bright and charming 1-bedroom garden-style co-op located in a super convenient and safe neighborhood. With a spacious living room, separate dining area, and plenty of closet space, this home offers both comfort and functionality. Enjoy abundant natural light from windows in every room — living room, kitchen, bedroom, and bathroom — thanks to its desirable south-north exposure. Ideally situated near the Auburndale LIRR station, Q13/Q16/Q28 buses, Utopia Parkway, and Clearview Expressway. Zoned for School District 26 and close to supermarkets, restaurants, and daily essentials. Move-in ready — don’t miss out!

Key facts

• Natural light
• Separate dining area
• Built 1950

Tags

• SEPARATE DINING AREA
• PLENTY OF CLOSET SPACE
• NATURAL LIGHT
• NEAR AUBURNDALE LIRR STATION
• CLOSE TO SUPERMARKETS
• ZONED FOR SCHOOL DISTRICT 26

Property features AI

Finance

• HOA & community: Cooperative community (Stock Cooperative)

Exterior

• Parking: No carport; Parking availability: Waitlist
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Stock cooperative; 2 total stories
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Cooktop; Oven; Range; Dishwasher; Refrigerator
• Bedrooms: 4 rooms total (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Other heating; Wall/Window air conditioning units
• Interior features: Other interior features; Laundry room; One level layout; 2nd floor entry
• Laundry & utility: Laundry room (in-unit or building laundry area)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $253k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/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 $243k (3.8% below list).
• Recommended offer: $243k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 rising fast (+5.4%/yr); 168 active listings in the ZIP; 10 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 $8k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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.
• Current owner paid $185k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $243,444 (3.8% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.41% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.66×
• Total profit: $-23,783
• Equity at exit: $37,723

10-year hold

• IRR: 3.5%
• Equity multiple: 1.28×
• Total profit: $19,835
• Equity at exit: $21,875

Cash invested: $70,840 (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 11361

• Rents YoY: 5.4%
• Active inventory: 168
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,434 high
• Mortgage (P&I): −$1,327
• Tax est. 1.5%: −$316 /mo · $3,795/yr
• Insurance: −$105
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $175

Break-even live

Break-even rent $2,213

Max offer price $253,000

Occupancy floor 88%

Sensitivity live

Price	-10% $350	-5% $262	+0% $175	+5% $87	+10% $0
Rent	-10% $-18	-5% $79	+0% $175	+5% $271	+10% $367
Rate	-1.0pp $302	-0.5pp $239	base $175	+0.5pp $109	+1.0pp $43

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: $63,250
• Closing costs: $7,590
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	0.44mi
196-42 44th Ave #2 Flushing, NY	1.0	1.0	600	$2,000	$3.33	0d	1	0.63mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	6d	1	0.73mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	19d	1	0.80mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	8d	2	0.82mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	25d	1	1.25mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	0d	5	1.28mi
4531 163rd St Unit 1 Flushing, NY	1.0	1.0	600	$2,250	$3.75	8d	1	1.30mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	25d	1	1.36mi
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	25d	1	1.38mi

HOA detail condo

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

Listing history 8 events

1. 2026-06-21
   days on market $253,000 Active 12 DOM
2. 2026-06-18
   days on market $253,000 Active 9 DOM
3. 2026-06-17
   days on market $253,000 Active 8 DOM
4. 2026-06-16
   days on market $253,000 Active 7 DOM
5. 2026-06-15
   days on market $253,000 Active 6 DOM
6. 2026-06-13
   days on market $253,000 Active 4 DOM
7. 2026-06-10
   remarks 630-char remark
8. 2026-06-10
   listed $253,000 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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: $29,213
• − Mortgage interest: −$14,172
• − Property taxes: −$3,795
• − Insurance: −$1,265
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − Depreciation: −$7,360
• Taxable loss: −$2,053
• Est. tax savings @ 24.0%: +$493
• After-tax cash flow: $2,590/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): 30,127
• Household income: $105,932
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1087.0

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: Asian 42% White 37% Hispanic / Latino 15% Two or more races 7% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 22% Korean 11% Spanish 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: ▼ -190.52%
• Current HPI: 317.8526
• Rent YoY: ▲ 5.41%
• 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

+27.1% since first listed

10 events — show timeline

• 2026-06-09 Listed $253,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-20 Listed $258,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-18 Price Changed $278,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $298,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-24 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-18 Sold (MLS) $185,000 OneKey® MLS as Distributed by MLS Grid
• 2019-02-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-12-18 Listed $199,000 OneKey® MLS as Distributed by MLS Grid