22402 Stronghurst Ave #208 · New York, NY 11427

$259,000

2 bd · 1.0 ba · 780 sqft · Condo · 206 Days on market

Built 1950 ↓ 9% since listing

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Why this score? — see what drove the C- 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• 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

Significant price adjustment -Motivated Seller. Co-op Living in Queens Village . Charming 2 Bedrooms . Near Francis Lewis Blvd & Hillside Ave-close to shops, dining, buses and the LIRR. This is a well-maintained community , original build in 1951. A great opportunity to own in a safe established and desirable community. Board requirement :Anual income most be at least 7 times the total 7 anual maintenance charge plus 2 times your annual mortgage payment if any. 20% down payment and any debt in credit sustract from the income. SIGNIFICANT PRICE IMPROVEMENT ! This coop has been newly adjusted for a faster sale. A lockbox will be available shortly, providing access for all approved sh

Key facts

• Garage
• Built 1950
• Listed 206 days

Property features AI

Finance

• Other: Living area per public records: 780
• HOA & community: Association: Park Manor Terrace

Exterior

• Parking: Has garage; No carport
• Utilities: Public sewer; Electricity available
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Other heating
• Interior features: Other interior features; Dining area
• Laundry & utility: No basement

🏢 Co-op / cooperative unit. The $259,000 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 2-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $228k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: 113 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 35% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 206 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $227,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.01% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 8.3

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-24,929
• Equity at exit: $38,618

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $342
• Equity at exit: $22,394

Cash invested: $72,520 (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 11427

• Active inventory: 113
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,604 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $267

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 85%

Sensitivity live

Price	-10% $446	-5% $356	+0% $267	+5% $177	+10% $88
Rent	-10% $61	-5% $164	+0% $267	+5% $370	+10% $473
Rate	-1.0pp $397	-0.5pp $333	base $267	+0.5pp $200	+1.0pp $132

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222-40 92nd Rd Unit 2nd Floor Jamaica, NY	2.0	1.0	1120	$3,400	$3.04	15d	1	0.78mi
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	3d	1	0.89mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	25d	1	1.02mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	1.06mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	21d	1	1.10mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	25d	1	1.11mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	25d	1	1.23mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	19d	1	1.26mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	25d	1	1.30mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	25d	1	1.32mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	25d	1	1.38mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	1.39mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	7d	1	1.47mi
248-15 89th Ave Unit 2nd Queens, NY	1.0	1.0	700	$2,200	$3.14	2d	1	1.47mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $259,000 Active 206 DOM
2. 2026-06-17
   days on market $259,000 Active 205 DOM
3. 2026-06-15
   days on market $259,000 Active 203 DOM
4. 2026-06-13
   days on market $259,000 Active 201 DOM
5. 2026-06-10
   days on market $259,000 Active 197 DOM
6. 2026-06-08
   days on market $259,000 Active 196 DOM
7. 2026-06-04
   days on market $259,000 Active 192 DOM
8. 2026-06-03
   days on market $259,000 Active 191 DOM
9. 2026-06-01
   days on market $259,000 Active 189 DOM
10. 2026-05-31
    days on market $259,000 Active 188 DOM
11. 2026-04-29
    price $259,000
12. 2026-04-29
    status Active
13. 2026-01-27
    status Pending
14. 2025-12-29
    price $250,000
15. 2025-12-08
    price $229,000
16. 2025-11-17
    price $249,000
17. 2025-10-20
    price $269,000
18. 2025-08-25
    listed $285,000 Active
19. 2025-08-19
    historical $285,000

ⓘ 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 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,243
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,499
• − Management: −$2,499
• − Depreciation: −$7,535
• Taxable loss: −$979
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $3,438/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): 24,607
• Household income: $88,980
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 811.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: Asian 37% Black 22% Hispanic / Latino 17% White 14% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 49% English-only · Other Indo-European 16% Spanish 14% Tagalog/Filipino 5%

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: ▼ -436.66%
• Current HPI: 297.7969
• 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

-9.1% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-29 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-08 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-25 Listed $285,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-19 Coming Soon $285,000 OneKey® MLS as Distributed by MLS Grid