13152 234th St Unit 1STFL · New York, NY 11422

$193,000

1 bd · 1.0 ba · 519 sqft · Condo public records · 67 Days on market

Built 1950

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Why this score? — see what drove the B- 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lovely Fully Renovated 1 Bedroom, 1 Bathroom Corner Unit Cooperative Apartment in Laurelton Gardens. This Well Maintained Residential Community in the heart of Laurelton, Queens Is a Great Place to Start Your Home Ownership Journey. Step Into This bright and thoughtfully Renovated Apartment, Recessed Lighting In The Spacious Sun-filled Living Room. The Updated Kitchen With Extra Storage Will Give You Room To Make All of Your Favorite Meals. The Primary Bedroom Can Hold a King Sized Bedroom Set With Room to Spare. The Bathroom Is Fully Updated. Rear Windows Gives Natural Light Throughout. Outside, There is Green Space and Your Garden Unit Opens Up to a Garden View. Enjoy Close Proximity to P

Key facts

• Garage
• Built 1950
• Listed 66 days

Property features AI

Exterior

• Parking: Garage; Parking lot
• Utilities: Con Edison electric service; Natural gas connected; Water connected; Public sewer; Trash collection (public); Electricity connected; Sewer connected
• Home design: Stock cooperative; Entry level is 1
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas cooktop; Gas oven; Refrigerator
• Bedrooms: Bedroom on the first floor
• Flooring: Carpet; Laminate; Wood; Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Steam heating; No cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Galley kitchen; Recessed lighting; No basement; Total rooms: 3; Entry level is 1; Two stories in building; One level unit; Pets not allowed
• Laundry & utility: Common area laundry; On-site laundry room

🏢 Co-op / cooperative unit. The $193,000 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 $193k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $193k).
• Recommended offer: $181k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($181k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 54% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.30% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 6.4

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: 5.0%
• Equity multiple: 1.19×
• Total profit: $10,384
• Equity at exit: $28,777

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $62,789
• Equity at exit: $16,687

Cash invested: $54,040 (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 11422

• Active inventory: 109
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,516 medium
• Mortgage (P&I): −$1,012
• Tax est. 1.5%: −$241 /mo · $2,895/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $653

Break-even live

Break-even rent $1,688

Max offer price $193,000

Occupancy floor 69%

Sensitivity live

Price	-10% $787	-5% $720	+0% $653	+5% $587	+10% $520
Rent	-10% $455	-5% $554	+0% $653	+5% $753	+10% $852
Rate	-1.0pp $751	-0.5pp $703	base $653	+0.5pp $603	+1.0pp $553

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: $48,250
• Closing costs: $5,790
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138-41 230th Pl Unit 2ND Jamaica, NY	1.0	1.0	592	$2,600	$4.39	25d	1	0.67mi
1003 Rottkamp St #1 Valley Stream, NY	1.0	1.0	550	$2,400	$4.36	2d	1	0.98mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $193,000 Active 67 DOM
2. 2026-06-18
   days on market $193,000 Active 64 DOM
3. 2026-06-17
   days on market $193,000 Active 63 DOM
4. 2026-06-15
   days on market $193,000 Active 61 DOM
5. 2026-06-13
   days on market $193,000 Active 59 DOM
6. 2026-06-10
   days on market $193,000 Active 55 DOM
7. 2026-06-08
   days on market $193,000 Active 54 DOM
8. 2026-06-08
   days on market $193,000 Active 53 DOM
9. 2026-06-04
   days on market $193,000 Active 50 DOM
10. 2026-06-03
    days on market $193,000 Active 49 DOM
11. 2026-06-01
    days on market $193,000 Active 47 DOM
12. 2026-05-31
    days on market $193,000 Active 46 DOM
13. 2026-04-16
    listed $193,000 Active
14. 2026-04-14
    historical $193,000

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,186
• − Mortgage interest: −$10,811
• − Property taxes: −$2,895
• − Insurance: −$965
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$5,615
• Taxable income: $5,071
• Est. tax owed @ 24.0%: −$1,217
• After-tax cash flow: $6,625/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
• City population: 7,731,280
• Population (ZIP): 33,085

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 Black (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 9% Two or more races 7% White 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12%
• Foreign-born: 40% · Canada, Mexico, China
• Languages at home: 73% English-only · French/Haitian/Cajun 13% Spanish 8% Other Indo-European 1%

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: ▼ -394.74%
• Current HPI: 284.6464
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-16 Listed $193,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-14 Coming Soon $193,000 OneKey® MLS as Distributed by MLS Grid