141-05 Northern Blvd Unit 1G · New York, NY 11354

$190,000

2 bd · 1.0 ba · 800 sqft · Condo · 239 Days on market

Built 1959 ↓ 24% since listing

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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 +10.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A commercial unit facing Northern Blvd. Street level. High Visibility. 7RM, 2 Baths. Maintenance includes taxes, heat and hot water. Interior updated. Turn Key. Immediately available. Great for business or professional office. A great catch for asset investment. Location: unmatched , highly sought-after commercial section of #7subway station in Flushing, next to multi-routes’ bus stops. Simply Convenient. A must-see property. Tax records state 0 square feet. Seller provided floorplan with 800 square footage.

Key facts

• Front unit
• Sizable rooms
• Updated

Tags

• FRONT UNIT
• GROUND FLOOR
• SIZABLE ROOMS
• LOW MAINTENANCE
• UPDATED
• TURN KEY

Property features AI

Finance

• HOA & community: Managed by co-op management company

Exterior

• Parking: Garage; Off-street parking; 1 garage space
• Utilities: Public sewer; Electricity available; Sewer available; Water available
• Home design: Townhouse; Stock cooperative
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Brick construction; Brick/mortar foundation; Not waterfront

Interior

• Kitchen: Other appliances
• Bedrooms: 7 total rooms (bedrooms included in room count)
• Bathrooms: 2 half bathrooms
• Heating & cooling: Hot water heating; Radiant heating; Other heating; Wall/window air conditioning units
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% 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 (+2.8%/yr); 656 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,890/mo this rent would consume 53% of the median local household income ($66k/yr) (locally 4119% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 239 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $85k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $167,200 (12.0% 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 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — 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: 1.52% ✓
• Cap rate: 5.56%
• Cash-on-cash: -2.62%
• DSCR: 0.88
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-38,100
• Equity at exit: $28,330

10-year hold

• IRR: -13.7%
• Equity multiple: 0.20×
• Total profit: $-42,404
• Equity at exit: $16,428

Cash invested: $53,200 (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 11354

• Home prices YoY: -33.9%
• Rents YoY: 2.8%
• Active inventory: 656
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,890 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA est. from 3 same-building comps: −$1,086
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $-116

Break-even live

Break-even rent $3,037

Max offer price $173,223

Occupancy floor 99%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141-25 Northern Blvd Unit A14 Flushing, NY	1.0	1.0	880	$2,350	$2.67	11d	1	0.06mi
140-16 34th Ave Unit 1113 Flushing, NY	2.0	1.0	900	$3,000	$3.33	24d	1	0.10mi
140-16 34th Ave Apt 1003 Flushing, NY	2.0	2.0	1100	$3,300	$3.00	24d	1	0.11mi
14016 34th Ave Unit 1210 Flushing, NY	2.0	1.0	900	$3,000	$3.33	6d	1	0.11mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	12d	1	0.12mi
36-20 Parsons Blvd Unit 5D Flushing, NY	2.0	1.0	900	$2,600	$2.89	15d	1	0.15mi
13702 Northern Blvd Flushing, NY	1.0–2.0	1.0	850	$2,850	$3.35	8d	2	0.15mi
3641 Union St Unit 2B Flushing, NY	2.0	1.0	968	$3,100	$3.20	24d	1	0.16mi
14238 37th Ave Unit 4C Flushing, NY	2.0	2.0	820	$2,800	$3.41	24d	1	0.17mi
139-31 34th Ave Unit 3rd fl Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.18mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	24d	1	0.24mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	2d	1	0.24mi
13835 39th Ave Flushing, NY	2.0–3.0	2.0	1000	$4,500	$4.50	2d	2	0.27mi
13835 39th Ave Flushing, NY	2.0	2.0	1014	$4,350	$4.29	24d	2	0.27mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	8d	1	0.29mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	11d	1	0.30mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	19d	1	0.32mi
14489 38th Ave Unit 4C Flushing, NY	1.0	1.0	790	$2,400	$3.04	24d	1	0.34mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	24d	1	0.35mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	15d	1	0.37mi
3371 Prince St Unit 6K Flushing, NY	2.0	2.0	768	$4,000	$5.21	15d	1	0.37mi
3371 Prince St Unit 7C Flushing, NY	2.0	2.0	773	$4,025	$5.21	15d	1	0.37mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	15d	1	0.37mi
14809 Northern Blvd Flushing, NY	2.0–3.0	2.0	1056	$3,500	$3.31	14d	2	0.43mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	24d	1	0.50mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	15d	2	0.51mi
40-10 149th St Fl 1 Flushing, NY	2.0	1.0	900	$2,200	$2.44	15d	1	0.52mi
40-10 149th St Fl 3 Flushing, NY	3.0	2.0	1030	$2,900	$2.82	13d	1	0.52mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	24d	1	0.55mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	3d	2	0.55mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	2d	1	0.56mi
14731 Barclay Ave Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.56mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	24d	1	0.58mi
2621 Union St Flushing, NY	1.0	1.0	800	$1,800	$2.25	19d	1	0.59mi
4229 Parsons Blvd Unit 6B Flushing, NY	3.0	2.0	860	$3,400	$3.95	24d	1	0.60mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	19d	1	0.60mi
4156 149th St Flushing, NY	3.0	1.0	1000	$3,000	$3.00	24d	1	0.64mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	24d	1	0.64mi
13101 40th Rd Unit 2P Flushing, NY	1.0	1.0	761	$3,300	$4.34	24d	1	0.66mi
4022 College Point Blvd Flushing, NY	1.0–2.0	1.0–2.0	983	$4,000	$4.07	24d	2	0.66mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $190,000 Active 239 DOM
2. 2026-06-17
   days on market $190,000 Active 238 DOM
3. 2026-06-15
   days on market $190,000 Active 236 DOM
4. 2026-06-13
   days on market $190,000 Active 234 DOM
5. 2026-06-10
   days on market $190,000 Active 230 DOM
6. 2026-06-08
   days on market $190,000 Active 229 DOM
7. 2026-06-04
   days on market $190,000 Active 225 DOM
8. 2026-06-03
   days on market $190,000 Active 224 DOM
9. 2026-06-01
   days on market $190,000 Active 222 DOM
10. 2026-05-31
    days on market $190,000 Active 221 DOM
11. 2026-03-06
    price $190,000
12. 2025-11-13
    price $270,000
13. 2025-10-22
    listed $275,000 Active
14. 2025-05-06
    historical
15. 2025-02-25
    price $158,888
16. 2024-11-05
    listed $298,888 Active
17. 2015-07-14
    historical
18. 2015-06-23
    listed $249,999

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 50% 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: $34,680
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,774
• − Management: −$2,774
• − HOA: −$13,032
• − Depreciation: −$5,527
• Taxable loss: −$3,871
• Est. tax savings @ 24.0%: +$929
• After-tax cash flow: $-462/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): 53,028
• Household income: $66,010
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 4119.0

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: Majority Asian (64%)
• Race & ethnicity: Asian 64% White 15% Hispanic / Latino 14% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 1% Italian 1%
• Foreign-born: 66% · China, Canada, South Korea
• Languages at home: 22% English-only · Chinese 43% Spanish 14% Korean 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: ▼ -131.64%
• Current HPI: 257.0828
• Rent YoY: ▲ 2.78%
• 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

-24.0% since first listed

8 events — show timeline

• 2026-03-06 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Listed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-25 Price Changed $158,888 OneKey® MLS as Distributed by MLS Grid
• 2024-11-05 Listed $298,888 OneKey® MLS as Distributed by MLS Grid
• 2015-07-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-06-23 Listed $249,999 OneKey® MLS as Distributed by MLS Grid