67-49 Bell Blvd #2 · New York, NY 11364

$348,000

2 bd · 1.0 ba · 775 sqft · Condo · 90 Days on market

Built 1950 ↓ 3% since listing

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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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New Washer & Dryer Combo Installed !!! Garden Coop Apartment Located In Oakland Gardens-School district #26 , Ps46/Ms74/Cardozo HS /QCC. individual & unique building entrance only you and lower unit . Bus Q88 To Queens Center, Xbus Qm 5/8/35 To Nyc. Shopping Center Right On Bell Blvd & 73 Ave. Short Distance To All. Parking lot next to building - Parking sticker $30/M , Garage on waitlist. 5% of flip tax pay by seller , Maintenance fee $1026.14 includes all except electric. Cat ok , No dog, Sublet prohibited . Owner occupied must . As low as 10% downpayment Allows must DTI ratio 30% .

Key facts

• 2 parking spots
• Built 1950
• Listed 90 days

Property features AI

Finance

• Other: Living area reported as 775 sq ft; Located in Queens County; Second (top) floor unit; Community features include playground and sidewalks
• HOA & community: Association: Bell Park Gardens

Exterior

• Parking: Parking lot with 2 spaces; Monthly parking fee (30)
• Security: Building security
• Utilities: Con Edison electric; Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Bi-level style; 2 total stories; Entry on level 2; Updated/remodeled condition
• Construction: Other construction materials; Other foundation type
• Exterior features: Not waterfront; Playground nearby; Sidewalks

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: Located on 2nd (top) floor
• Flooring: Combination of tile, vinyl and wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Entrance foyer; Formal dining area; Storage; Porch; Bicycle room; Outdoor space; Walk-up building; Building security; Cats allowed, no dogs
• Laundry & utility: Laundry room with multiple locations

🏢 Co-op / cooperative unit. The $348,000 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 $348k.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (19.1% below list).
• Recommended offer: $281k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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: Rents rising fast (+8.5%/yr); 248 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% of the median local income ($98k/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 $10k 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 90 days — a 6% lower offer ($327k) 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, 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 $281,371 (19.1% 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 90 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.46×
• Total profit: $-53,078
• Equity at exit: $51,888

10-year hold

• IRR: 0.8%
• Equity multiple: 1.07×
• Total profit: $6,696
• Equity at exit: $30,089

Cash invested: $97,440 (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 11364

• Rents YoY: 8.5%
• Active inventory: 248
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,814 high
• Mortgage (P&I): −$1,825
• Tax est. 1.5%: −$435 /mo · $5,220/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $-182

Break-even live

Break-even rent $3,044

Max offer price $321,647

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: $87,000
• Closing costs: $10,440
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	2d	1	0.32mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	24d	1	0.80mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	0.84mi
203-06 53rd Ave Unit 2 Flushing, NY	1.0	1.0	850	$2,200	$2.59	24d	1	0.96mi
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	24d	1	1.09mi
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	24d	1	1.13mi
01 194th St Unit Main Fresh Meadows, NY	1.0	1.0	895	$2,400	$2.68	15d	1	1.22mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.27mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.44mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	1.49mi

HOA detail condo

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

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-03-06
   price $348,000
3. 2026-02-10
   listed $358,000 Active

ⓘ 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) · 74% 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,765
• − Mortgage interest: −$19,493
• − Property taxes: −$5,220
• − Insurance: −$1,740
• − Repairs & maintenance: −$2,701
• − Management: −$2,701
• − Depreciation: −$10,124
• Taxable loss: −$8,215
• Est. tax savings @ 24.0%: +$1,972
• After-tax cash flow: $-214/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): 35,276
• Household income: $98,359
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1288.0

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 0.64)
• Race & ethnicity: Asian 50% White 29% Hispanic / Latino 15% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 44% · China, South Korea, Canada
• Languages at home: 41% English-only · Chinese 30% Spanish 9% Korean 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: ▼ -179.50%
• Current HPI: 242.5386
• Rent YoY: ▲ 8.47%
• 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

-2.8% since first listed

3 events — show timeline

• 2026-05-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $348,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-10 Listed $358,000 OneKey® MLS as Distributed by MLS Grid