196-69 73 Ave #2 · New York, NY 11366

$369,000

2 bd · 1.0 ba · 764 sqft · Condo public records · 11 Days on market

Built 1955

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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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming immaculate garden apartment with spacious terrace. Additional room for office. Stackable washer and dryer that is in the kitchen. Freshly painted. Lovely courtyards throughout the complex. School district 26. Close to shopping, transportation, highways, parks and houses of worship. Minimum income requirement $110K DP 20% Income to debt ratio 25%. Effective 7/1/26 - 6/30/27 Assessment

Key facts

• Spacious terrace
• School district 26
• Garden apartment

Tags

• GARDEN APARTMENT
• SPACIOUS TERRACE
• ADDITIONAL ROOM FOR OFFICE
• STACKABLE WASHER AND DRYER
• LOVELY COURTYARDS
• SCHOOL DISTRICT 26

Property features AI

Finance

• HOA & community: Association: Meadowlark Gardens Owners Inc.; Additional assessment of $234 (See remarks; 7/1/26 - 6/30/27)

Exterior

• Parking: On-street parking; Parking fee applies ($140)
• Utilities: Public sewer; Cable connected; Natural gas connected; Phone connected
• Home design: Stock cooperative; 2 stories
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Cooktop; Oven; Refrigerator
• Bedrooms: 2 total stories; entry level is 1
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; No central cooling
• Interior features: Washer/dryer hookup; Dining area; Home office
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $369k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $309k (16.4% below list).
• Recommended offer: $309k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: 64 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3k of loan paydown is wiped out by about $11k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $308,666 (16.4% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
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. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 10.0

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: -19.7%
• Equity multiple: 0.31×
• Total profit: $-71,048
• Equity at exit: $55,019

10-year hold

• IRR: -12.5%
• Equity multiple: 0.26×
• Total profit: $-76,116
• Equity at exit: $31,904

Cash invested: $103,320 (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 11366

• Home prices YoY: -33.2%
• Active inventory: 64
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,087 high
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $-178

Break-even live

Break-even rent $3,312

Max offer price $343,233

Occupancy floor —

Sensitivity live

Price	-10% $77	-5% $-51	+0% $-178	+5% $-306	+10% $-433
Rent	-10% $-422	-5% $-300	+0% $-178	+5% $-56	+10% $66
Rate	-1.0pp $8	-0.5pp $-84	base $-178	+0.5pp $-274	+1.0pp $-371

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	25d	1	0.19mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	25d	1	0.43mi
01 194th St Unit Main Fresh Meadows, NY	1.0	1.0	895	$2,400	$2.68	15d	1	0.45mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	25d	1	0.55mi
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	25d	1	0.55mi
178-05 69th Ave Unit 2 Flushing, NY	2.0	1.0	750	$2,700	$3.60	25d	1	0.89mi
203-06 53rd Ave Unit 2 Flushing, NY	1.0	1.0	850	$2,200	$2.59	25d	1	0.92mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	4d	1	1.03mi
61-41 173rd St Unit 3rd fl Flushing, NY	2.0	1.0	1000	$2,500	$2.50	22d	1	1.07mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	1.19mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	7d	1	1.31mi
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	3d	1	1.33mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	15d	1	1.40mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	25d	1	1.40mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	25d	1	1.41mi
76-40 170th St #1 Flushing, NY	2.0	1.0	924	$2,800	$3.03	0d	1	1.43mi

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $369,000 Active 11 DOM
2. 2026-06-17
   days on market $369,000 Active 10 DOM
3. 2026-06-16
   days on market $369,000 Active 9 DOM
4. 2026-06-15
   days on market $369,000 Active 8 DOM
5. 2026-06-13
   remarks 395-char remark
6. 2026-06-13
   listed $369,000 Active 6 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $37,040
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$2,642
• − Repairs & maintenance: −$2,963
• − Management: −$2,963
• − Depreciation: −$10,735
• Taxable loss: −$8,468
• Est. tax savings @ 24.0%: +$2,032
• After-tax cash flow: $-104/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): 13,463
• Household income: $135,373
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 161.0

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 0.69)
• Race & ethnicity: Asian 44% White 30% Hispanic / Latino 16% Two or more races 7% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 1%
• Common ancestry: Scotch-Irish 6% Romanian 3% Subsaharan African 1%
• Foreign-born: 48% · China, Canada, South Korea
• Languages at home: 32% English-only · Chinese 26% Spanish 14% Russian/Polish/Slavic 8%

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: ▼ -178.22%
• Current HPI: 358.2689
• 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

+3.9% since first listed

2 events — show timeline

• 2026-06-10 Price Changed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-07 Listed $355,000 OneKey® MLS as Distributed by MLS Grid