5767 246th Upper Cres Uppr A2 · New York, NY 11362

$275,000

1 bd · 1.0 ba · 700 sqft · Condo · 26 Days on market

Built 1953 Good condition

---

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 +13.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained first floor 1 bedroom, 1 bath Garden Apartment in Beech Hill, SD #26. Unit includes totally renovated kitchen with Quartz countertops, new backsplash, and dishwasher. Bathroom is spacious with walk in shower. There is a W/D in unit and outdoor BBQing is allowed! Hardwood floors throughout this South facing unit; 1 brand new air conditioner, and many closets. LR/DR is L shaped with hardwood floors. Large primary bedroom with double closet and windows. Maintenance includes ALL UTILTIES, real estate taxes, snow removal, landscaping, private sanitation, private security, and much more. Close to all highways, multiple buses and shopping, 1.4 miles to Douglaston LIRR station, and close to golf courses. DTI must be below 36% including mortgage and maintenance. Per sellers request, proof of funds or preapproval is required for showings., Additional information: Appearance:Very good,Interior Features:Efficiency Kitchen

Key facts

• Renovated kitchen
• Alarm system
• 2 in wall ac units

Tags

• RENOVATED KITCHEN
• IN UNIT STACKABLE WASHER DRYER
• 2 IN WALL AC UNITS
• NEW LIGHTING FIXTURES
• ALARM SYSTEM
• ZONED FOR DISTRICT 26 SCHOOLS

Property features AI

Exterior

• Parking: Assigned parking; On-street parking available; No carport
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; 2 stories total; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator; Quartz/Quartzite countertops
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Formal dining area; Galley-style kitchen; Quartz/Quartzite counters; Storage space; Washer/dryer hookup
• Laundry & utility: In-unit washer and dryer (washer and dryer listed); Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $11 ($128/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 $242k (12.0% below list).
• Recommended offer: $242k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 162 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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

• It's been on market 26 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $241,914 (12.0% below list)

Questions for the listing agent

1. Built in 1953 — 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: 0.88% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-43,847
• Equity at exit: $41,003

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-37,158
• Equity at exit: $23,777

Cash invested: $77,000 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,419 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $11

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 95%

Sensitivity live

Price	-10% $201	-5% $106	+0% $11	+5% $-84	+10% $-179
Rent	-10% $-180	-5% $-85	+0% $11	+5% $106	+10% $202
Rate	-1.0pp $149	-0.5pp $81	base $11	+0.5pp $-61	+1.0pp $-133

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24120 Northern Blvd Unit 3K Little Neck, NY	—	1.0	500	$2,800	$5.60	17d	1	0.69mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	26d	1	0.83mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	20d	1	0.93mi
260-51 73rd Ave Queens, NY	1.0	1.0	518	$2,200	$4.25	6d	1	1.04mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	1.23mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-13
   statusdays on market $275,000 Pending 26 DOM
2. 2026-06-10
   days on market $275,000 Active 25 DOM
3. 2026-06-08
   days on market $275,000 Active 24 DOM
4. 2026-06-08
   days on market $275,000 Active 23 DOM
5. 2026-06-04
   days on market $275,000 Active 20 DOM
6. 2026-06-03
   days on market $275,000 Active 19 DOM
7. 2026-06-02
   days on market $275,000 Active 18 DOM
8. 2026-06-01
   days on market $275,000 Active 17 DOM
9. 2026-05-31
   days on market $275,000 Active 16 DOM
10. 2026-05-15
    price $275,000
11. 2026-05-15
    listed $239,000 Active
12. 2024-05-16
    soldstatus $250,000 Closed 947-char remark

    Show marketing remark (947 chars)

    Beautifully maintained first floor 1 bedroom, 1 bath Garden Apartment in Beech Hill, SD #26. Unit includes totally renovated kitchen with Quartz countertops, new backsplash, and dishwasher. Bathroom is spacious with walk in shower. There is a W/D in unit and outdoor BBQing is allowed! Hardwood floors throughout this South facing unit; 1 brand new air conditioner, and many closets. LR/DR is L shaped with hardwood floors. Large primary bedroom with double closet and windows. Maintenance includes ALL UTILTIES, real estate taxes, snow removal, landscaping, private sanitation, private security, and much more. Close to all highways, multiple buses and shopping, 1.4 miles to Douglaston LIRR station, and close to golf courses. DTI must be below 36% including mortgage and maintenance. Per sellers request, proof of funds or preapproval is required for showings., Additional information: Appearance:Very good,Interior Features:Efficiency Kitchen

13. 2024-02-27
    status Pending 947-char remark

    Show marketing remark (947 chars)

    Beautifully maintained first floor 1 bedroom, 1 bath Garden Apartment in Beech Hill, SD #26. Unit includes totally renovated kitchen with Quartz countertops, new backsplash, and dishwasher. Bathroom is spacious with walk in shower. There is a W/D in unit and outdoor BBQing is allowed! Hardwood floors throughout this South facing unit; 1 brand new air conditioner, and many closets. LR/DR is L shaped with hardwood floors. Large primary bedroom with double closet and windows. Maintenance includes ALL UTILTIES, real estate taxes, snow removal, landscaping, private sanitation, private security, and much more. Close to all highways, multiple buses and shopping, 1.4 miles to Douglaston LIRR station, and close to golf courses. DTI must be below 36% including mortgage and maintenance. Per sellers request, proof of funds or preapproval is required for showings., Additional information: Appearance:Very good,Interior Features:Efficiency Kitchen

14. 2024-02-02
    listed $250,000 Active 947-char remark

    Show marketing remark (947 chars)

    Beautifully maintained first floor 1 bedroom, 1 bath Garden Apartment in Beech Hill, SD #26. Unit includes totally renovated kitchen with Quartz countertops, new backsplash, and dishwasher. Bathroom is spacious with walk in shower. There is a W/D in unit and outdoor BBQing is allowed! Hardwood floors throughout this South facing unit; 1 brand new air conditioner, and many closets. LR/DR is L shaped with hardwood floors. Large primary bedroom with double closet and windows. Maintenance includes ALL UTILTIES, real estate taxes, snow removal, landscaping, private sanitation, private security, and much more. Close to all highways, multiple buses and shopping, 1.4 miles to Douglaston LIRR station, and close to golf courses. DTI must be below 36% including mortgage and maintenance. Per sellers request, proof of funds or preapproval is required for showings., Additional information: Appearance:Very good,Interior Features:Efficiency Kitchen

ⓘ 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 ≥97°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,030
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,322
• − Management: −$2,322
• − Depreciation: −$8,000
• Taxable loss: −$4,519
• Est. tax savings @ 24.0%: +$1,085
• After-tax cash flow: $1,213/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 · 13 photos

Good 80/100 Cosmetic rehab

This condo is in good condition with a recently renovated kitchen and updated bathroom. It's move-in ready with minor cosmetic improvements needed for the exterior and landscaping.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal
• Both Landscaping — Improves curb appeal and enhances property value
• Both New flooring — Freshens up the interior and improves aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑
• Both New flooring — Freshens up the interior and improves aesthetics ↑

ⓘ 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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 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: ▼ -117.12%
• Current HPI: 259.773
• 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

+10.0% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-15 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-16 Sold (MLS) $250,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-02-02 Listed $250,000 OneKey® MLS as Distributed by MLS Grid