131 39 234 St Unit LL · New York, NY 11422

$225,000

1 bd · 1.0 ba · 650 sqft · Condo · 1 Days on market

Built 1949 Good condition

---

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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sunny and bright first-floor 1-bedroom co-op located in the desirable Laurelton Gardens community. This well-maintained home features an updated kitchen with white cabinetry, stone-look countertops, tiled backsplash, and gas cooking. Spacious living room with wood-style flooring and abundant natural light, ideal for relaxing or working from home. Generously sized bedroom with a large closet and ceiling fan with light fixture. Updated bathroom showcases modern tilework, full-size tub, contemporary vanity, and window for natural light and ventilation. Convenient on-site laundry (not in-unit). Quiet, tree-lined block with street parking. Close to public transportation, major roadways, shoppin

Key facts

• Large closet
• Tiled backsplash
• Gas cooking

Tags

• UPDATED KITCHEN
• TILED BACKSPLASH
• GAS COOKING
• WOOD-STYLE FLOORING
• ABUNDANT NATURAL LIGHT
• LARGE CLOSET

Property features AI

Finance

• HOA & community: Live-in superintendent; Maintenance included; Grounds maintenance; Snow removal; Trash service; Additional monthly assessment/abatement fee of $135

Exterior

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

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No cooling
• Interior features: First-floor bedroom; First-floor full bathroom; No attic; No basement; Total of 3 rooms; 2 stories, entry level on 1
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 8.6% 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: 107 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 $2k of loan paydown is wiped out by about $7k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $225,000

Questions for the listing agent

1. Built in 1949 — 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. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 7.4

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-8,777
• Equity at exit: $33,548

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $28,108
• Equity at exit: $19,454

Cash invested: $63,000 (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 11422

• Active inventory: 107
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,518 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $434

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 78%

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: $56,250
• Closing costs: $6,750
• 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	24d	1	0.70mi
1003 Rottkamp St #1 Valley Stream, NY	1.0	1.0	550	$2,400	$4.36	1d	1	0.93mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $225,000 Active 1 DOM

ⓘ 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 · 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: $30,212
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$6,545
• Taxable income: $1,729
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $4,793/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 · 10 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated 1-bedroom co-op in Laurelton Gardens is move-in ready with good curb appeal and a bright, spacious interior.

Value-add opportunities

• Both Paint the front door — Enhances curb appeal and can increase both resale and rental value.
• Both Clean the windows — Improves natural light and ventilation, making the home more attractive and energy-efficient.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the front door — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean the windows — Improves natural light and ventilation, making the home more attractive and energy-efficient. ↑

ⓘ 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
• 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

1 event — show timeline

• 2026-06-18 Listed $225,000 OneKey® MLS as Distributed by MLS Grid