241-20 Northern Blvd Unit 1M · New York, NY 11362

$259,000

1 bd · 1.0 ba · 850 sqft · Condo · 281 Days on market

Built 1964 ↓ 8% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

Key facts

• New bath
• New kitchen
• Easy accessibility

Tags

• EASY ACCESSIBILITY
• NEW KITCHEN
• NEW BATH
• 2 BLOCKS TO DOUGLASTON LIRR

🏢 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 1-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• 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 0.7% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 162 active listings in the ZIP; 8 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 $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 281 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $259k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 58% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/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. 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 281 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 1964 — 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: 1.08% ✓
• Cap rate: 0.67%
• Cash-on-cash: -20.07%
• DSCR: 0.11
• GRM: 7.7

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: -56.8%
• Equity multiple: -0.63×
• Total profit: $-118,173
• Equity at exit: $38,618

10-year hold

• IRR: —
• Equity multiple: -1.73×
• Total profit: $-198,142
• 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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,786 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA est. from 1 same-building comp: −$1,624
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $-1,213

Break-even live

Break-even rent $4,321

Max offer price $83,506

Occupancy floor —

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,100	$3.44	4d	1	0.10mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	18d	1	0.26mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	24d	1	0.46mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.01mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	1.15mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	4d	1	1.33mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.36mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	24d	1	1.44mi

HOA detail condo

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

Listing history 18 events

1. 2026-03-03
   status Pending

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

2. 2026-03-03
   status Pending 231-char remark

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

3. 2025-09-20
   status Active 231-char remark

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

4. 2025-09-20
   status Active

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

5. 2025-08-18
   status Pending 231-char remark

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

6. 2025-08-18
   status Pending

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

7. 2025-07-12
   price $259,000 231-char remark

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

8. 2025-05-21
   price $259,000
9. 2025-04-17
   listed $279,000 Active

   Show marketing remark (231 chars)

   Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

10. 2025-04-17
    listed $279,000 Active 231-char remark

    Show marketing remark (231 chars)

    Spectacular Co-op unit with easy accessibility to transportation, recreation and shops, a must see. Easy to view, wonderful layout. Great for entertaining. All new kitchen and bath. 2 blocks to Douglaston LIRR-Port Washington line

11. 2022-03-30
    soldstatus $150,000 Closed 619-char remark

    Show marketing remark (619 chars)

    Welcome to the Manorhouse of Douglaston Manor!! Prime opportunity to make this spacious 1 bedroom unit your own! Why Rent? When you can BUY and DESIGN to your TASTE! Take the Elevator up one flight to this 1st Floor unit with a great layout: Entry foyer leading to a large and sunny living room, L shape dining room, kitchen, with so much potential for an open floor plan and sprawling island, *KING SIZE* bedroom, full bath, and closets galore! Laundry and super on site, parking by waitlist. Just steps to LIRR, bus, shops, great restaurants, driving range and golf, parks, trails, & so much more..prime location!

12. 2022-01-10
    status Pending 619-char remark

    Show marketing remark (619 chars)

    Welcome to the Manorhouse of Douglaston Manor!! Prime opportunity to make this spacious 1 bedroom unit your own! Why Rent? When you can BUY and DESIGN to your TASTE! Take the Elevator up one flight to this 1st Floor unit with a great layout: Entry foyer leading to a large and sunny living room, L shape dining room, kitchen, with so much potential for an open floor plan and sprawling island, *KING SIZE* bedroom, full bath, and closets galore! Laundry and super on site, parking by waitlist. Just steps to LIRR, bus, shops, great restaurants, driving range and golf, parks, trails, & so much more..prime location!

13. 2021-11-03
    price $168,000 619-char remark

    Show marketing remark (619 chars)

    Welcome to the Manorhouse of Douglaston Manor!! Prime opportunity to make this spacious 1 bedroom unit your own! Why Rent? When you can BUY and DESIGN to your TASTE! Take the Elevator up one flight to this 1st Floor unit with a great layout: Entry foyer leading to a large and sunny living room, L shape dining room, kitchen, with so much potential for an open floor plan and sprawling island, *KING SIZE* bedroom, full bath, and closets galore! Laundry and super on site, parking by waitlist. Just steps to LIRR, bus, shops, great restaurants, driving range and golf, parks, trails, & so much more..prime location!

14. 2021-07-01
    listed $198,000 Active 619-char remark

    Show marketing remark (619 chars)

    Welcome to the Manorhouse of Douglaston Manor!! Prime opportunity to make this spacious 1 bedroom unit your own! Why Rent? When you can BUY and DESIGN to your TASTE! Take the Elevator up one flight to this 1st Floor unit with a great layout: Entry foyer leading to a large and sunny living room, L shape dining room, kitchen, with so much potential for an open floor plan and sprawling island, *KING SIZE* bedroom, full bath, and closets galore! Laundry and super on site, parking by waitlist. Just steps to LIRR, bus, shops, great restaurants, driving range and golf, parks, trails, & so much more..prime location!

15. 2020-10-13
    historical
16. 2020-08-04
    price $268,800
17. 2020-07-04
    listed $280,000 Active
18. 2020-07-04
    historical

ⓘ 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 · 14 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,434
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,675
• − Management: −$2,675
• − HOA: −$19,488
• − Depreciation: −$7,535
• Taxable loss: −$18,626
• Est. tax savings @ 24.0%: +$4,470
• After-tax cash flow: $-10,083/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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 9%

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: ▼ -117.12%
• Current HPI: 259.773
• 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

-7.5% since first listed

18 events — show timeline

• 2026-03-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-12 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-21 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-30 Sold (MLS) $150,000 OneKey® MLS as Distributed by MLS Grid
• 2022-01-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-11-03 Price Changed $168,000 OneKey® MLS as Distributed by MLS Grid
• 2021-07-01 Listed $198,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-08-04 Price Changed $268,800 OneKey® MLS as Distributed by MLS Grid
• 2020-07-04 Listed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-04 Coming Soon — OneKey® MLS as Distributed by MLS Grid