15517 Sanford Ave Unit 2E · New York, NY 11355

$169,000

1 bd · 1.0 ba · 699 sqft · Condo public records · 98 Days on market

Built 1928 ↓ 32% since listing

---

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).

• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Cash flow +3.4/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Move right into this bright one bedroom co-op located in a well maintained elevator building. The apartment features abundant natural light, the kitchen offers ample cabinetry and plenty of storage space. The bedroom is well-sized, and the unit boasts a comfortable and efficient layout. Maintenance fee is all-inclusive except electricity and cooking gas. Commuting is convenient with access to the 7 train, and local buses including Q65, Q13, Q28, Q15. Also close to the LIRR, Northern Blvd, schools, parks, the library, and a wide variety of local shops and restaurants. Subletting is permitted after two years of ownership, making this an excellent opportunity for both end-users and investors.

Key facts

• Close to parks
• Close to schools
• Close to the library

Tags

• AMPLE CABINETRY
• PLENTY OF STORAGE SPACE
• EASY ACCESS TO THE 7 TRAIN
• CLOSE TO SCHOOLS
• CLOSE TO PARKS
• CLOSE TO THE LIBRARY

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity available; Natural gas available; Sewer available; Water available
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: Entry level is 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Heating as described in remarks
• Interior features: Elevator; High ceilings
• Laundry & utility: Pets allowed — call for details

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-522 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.

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 (+3.9%/yr); 405 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,485/mo this rent would consume 54% of the median local household income ($55k/yr) (locally 6765% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.1% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• 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 $153,790 (9.0% 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 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — 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: 1.47% ✓
• Cap rate: 2.59%
• Cash-on-cash: -13.23%
• DSCR: 0.41
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.09% appreciation · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.45×
• Total profit: $-26,141
• Equity at exit: $58,477

10-year hold

• IRR: -3.2%
• Equity multiple: 0.58×
• Total profit: $-19,653
• Equity at exit: $78,320

Cash invested: $47,320 (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 11355

• Home prices YoY: 0.4%
• Rents YoY: 3.9%
• Active inventory: 405
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,485 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA est. from 2 same-building comps: −$1,317
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-522

Break-even live

Break-even rent $3,145

Max offer price $93,501

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	19d	1	0.28mi
149-35 Northern Blvd Unit 4Z Flushing, NY	—	1.0	500	$1,800	$3.60	19d	1	0.41mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	2d	1	0.43mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	3d	2	0.44mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	25d	1	0.55mi
4531 163rd St Unit 1 Flushing, NY	1.0	1.0	600	$2,250	$3.75	8d	1	0.58mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	25d	1	0.63mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	7d	2	0.64mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	19d	1	0.65mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	2d	1	0.72mi
14065 Beech Ave Unit 6J Flushing, NY	—	1.0	366	$2,000	$5.46	6d	1	0.77mi
13680 41st Ave Unit 7D Flushing, NY	—	1.0	428	$2,650	$6.19	4d	1	0.91mi
140-16 34th Ave Unit 412 Flushing, NY	—	1.0	600	$2,250	$3.75	6d	1	0.93mi
140-16 34th Ave Unit 308 Flushing, NY	—	1.0	600	$2,250	$3.75	25d	1	0.93mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	12d	1	0.94mi
3532 Leavitt St Unit 11I Flushing, NY	—	1.0	422	$2,900	$6.87	4d	1	1.01mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	8d	1	1.01mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	19d	1	1.02mi
13434 Franklin Ave Unit 4E Flushing, NY	1.0	1.0	477	$2,800	$5.87	1d	1	1.14mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	15d	2	1.16mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.16mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	25d	1	1.19mi
3371 Prince St Unit 13L Flushing, NY	1.0	1.0	452	$2,800	$6.19	25d	1	1.22mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	15d	1	1.22mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	15d	1	1.22mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	25d	1	1.25mi
132-30 Sanford Ave Unit 4Af Queens, NY	1.0	1.0	470	$2,300	$4.89	25d	1	1.25mi
13336 37th Ave Unit 3K Flushing, NY	—	1.0	500	$3,200	$6.40	25d	1	1.25mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	4d	1	1.26mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	4d	1	1.29mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	25d	1	1.30mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	4d	1	1.30mi
13208 Pople Ave Unit 4A Flushing, NY	1.0	1.0	650	$2,500	$3.85	25d	1	1.32mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	1.40mi
196-42 44th Ave #2 Flushing, NY	1.0	1.0	600	$2,200	$3.67	5d	1	1.41mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$3,675	$4.82	3d	3	1.45mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	19d	3	1.45mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $169,000 Active 98 DOM
2. 2026-06-17
   days on market $169,000 Active 97 DOM
3. 2026-06-15
   days on market $169,000 Active 95 DOM
4. 2026-06-13
   days on market $169,000 Active 93 DOM
5. 2026-06-10
   days on market $169,000 Active 89 DOM
6. 2026-06-08
   days on market $169,000 Active 88 DOM
7. 2026-06-08
   days on market $169,000 Active 87 DOM
8. 2026-06-04
   days on market $169,000 Active 84 DOM
9. 2026-06-03
   days on market $169,000 Active 83 DOM
10. 2026-06-01
    days on market $169,000 Active 81 DOM
11. 2026-05-31
    days on market $169,000 Active 80 DOM
12. 2026-04-17
    price $169,000
13. 2026-03-12
    listed $179,000 Active
14. 2025-07-30
    historical
15. 2025-07-07
    listed $250,000 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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $29,820
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − HOA: −$15,804
• − Depreciation: −$4,916
• Taxable loss: −$8,518
• Est. tax savings @ 24.0%: +$2,044
• After-tax cash flow: $-4,217/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): 80,801
• Household income: $55,326
• Rent vs Own: 66.6% rent · 33.4% own
• Severe rent burden: 6765.0

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: Predominantly Asian (75%)
• Race & ethnicity: Asian 75% Hispanic / Latino 14% White 7% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 72% · China, Canada, South Korea
• Languages at home: 16% English-only · Chinese 58% Spanish 12% Other Indo-European 6%

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: ▲ 1.09%
• Current HPI: 253.1482
• Rent YoY: ▲ 3.93%
• 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

-32.4% since first listed

4 events — show timeline

• 2026-04-17 Price Changed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Listed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Listed $250,000 OneKey® MLS as Distributed by MLS Grid