87-40 Francis Lewis Blvd Unit A76 · New York, NY 11427

$220,000

2 bd · 1.0 ba · 800 sqft · Condo · 263 Days on market

Built 1953 ↓ 6% 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).

• 1% rule +7.6/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

2-bedroom co-op apartment in Hilltop Village offers a spacious living room, dining area, kitchen and a full bathroom. Located on the top floor of the building, this the unit includes plenty of closet space for storage. The building offers laundry facilities, and both indoor and outdoor parking (with a waitlist). Conveniently close to highways, shopping, parks, schools, and houses of worship, with access to multiple bus lines. All utilities are included in the monthly maintenance, and the income requirement is 5x the annual maintenance plus 2x the annual mortgage. No dogs or subletting allowed. Flip tax is paid by the seller.

Key facts

• Laundry facilities
• Dining area
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• DINING AREA
• PLENTY OF CLOSET SPACE
• LAUNDRY FACILITIES
• INDOOR AND OUTDOOR PARKING
• ALL UTILITIES INCLUDED

Property features AI

Finance

• HOA & community: Association managed by Akam Management; Association fee includes utilities; Additional fee: $300 (Flip Tax)

Exterior

• Parking: Assigned parking; Covered parking; Electric vehicle charging station(s); Garage with door opener; On-street parking; Parking lot; Private parking; Parking fee applies ($40)
• Security: Building security; Security system; Video cameras; Intercom
• Utilities: Public sewer; Cable available
• Home design: Stock cooperative; Seven-story building; Single-level unit
• Construction: Brick exterior
• Exterior features: Brick construction; Building security; Fire escape; Security system; Smoke detectors; Video cameras; Not waterfront

Interior

• Kitchen: Freezer; Gas oven; Gas range; Microwave
• Bedrooms: One-level layout
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Radiant heat; Wall/window air conditioning units
• Interior features: Ceiling fans; Elevator; Entrance foyer; Formal dining area; High-speed internet; Accessible approach with ramp; Intercom
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $220,000 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 $220k.

Deal economics

• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.8% 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; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 37% 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 $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

• It's been on market 263 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $193,600 (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 263 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 1953 — 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: 1.26% ✓
• Cap rate: 4.80%
• Cash-on-cash: -5.32%
• DSCR: 0.76
• GRM: 6.6

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: -25.0%
• Equity multiple: 0.15×
• Total profit: $-52,427
• Equity at exit: $32,803

10-year hold

• IRR: -19.8%
• Equity multiple: -0.06×
• Total profit: $-65,546
• Equity at exit: $19,022

Cash invested: $61,600 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,762 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA est. from 1 same-building comp: −$935
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-273

Break-even live

Break-even rent $3,108

Max offer price $180,482

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	10d	1	0.26mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	0.27mi
197-10 Foothill Ave Unit 1st floor Jamaica, NY	3.0	2.0	1100	$3,600	$3.27	6d	1	0.36mi
190-11 Hillside Ave Apt 202 Hollis, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.69mi
190-11 Hillside Ave Unit 304 Hollis, NY	1.0	1.0	700	$2,600	$3.71	14d	1	0.69mi
193-14 Jamaica Ave Unit 2 Floor Jamaica, NY	3.0	2.0	1000	$3,195	$3.19	11d	1	0.73mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	24d	1	0.74mi
7364 196th St Fresh Meadows, NY	3.0	2.5	1000	$5,500	$5.50	24d	1	1.03mi
104-23 203rd St Unit 1 Jamaica, NY	2.0	1.0	900	$2,975	$3.31	11d	1	1.04mi
190-24 102nd Ave Unit First floor Jamaica, NY	3.0	1.5	1000	$3,000	$3.00	24d	1	1.06mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	24d	1	1.17mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.22mi
17814 80th Dr Jamaica, NY	3.0	1.5	1100	$5,499	$5.00	3d	1	1.41mi
11141 202nd St Saint Albans, NY	3.0	1.0	900	$2,750	$3.06	24d	1	1.41mi
177-30 Wexford Ter Unit 201 Jamaica, NY	1.0	1.0	730	$2,700	$3.70	2d	1	1.44mi
177-30 Wexford Ter Unit 603 Jamaica, NY	2.0	1.0	800	$3,300	$4.12	24d	1	1.44mi
177-30 Wexford Ter Unit 502 Jamaica, NY	2.0	1.0	1100	$3,270	$2.97	11d	1	1.44mi
177-30 Wexford Ter Unit 311 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	13d	1	1.44mi
177-30 Wexford Ter Unit 802 Jamaica, NY	2.0	1.0	900	$3,300	$3.67	2d	1	1.44mi
177-30 Wexford Ter Unit 404 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	2d	1	1.44mi
177-30 Wexford Ter Apt 806 Jamaica, NY	2.0	1.0	1090	$3,400	$3.12	14d	1	1.44mi
177-16 Wexford Ter Unit 401 Jamaica, NY	1.0	1.0	700	$2,600	$3.71	13d	1	1.46mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	24d	1	1.48mi
175-32 Devonshire Rd Unit 1st Floor Jamaica, NY	3.0	2.0	1100	$3,300	$3.00	10d	1	1.48mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	20d	1	1.49mi

HOA detail condo

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

Listing history 7 events

1. 2026-04-15
   status Pending
2. 2026-02-24
   price $220,000
3. 2026-01-06
   price $240,000
4. 2026-01-06
   status Active
5. 2026-01-01
   historical
6. 2025-10-20
   status Active
7. 2025-07-01
   listed $235,000 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 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 54% 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: $33,148
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,652
• − Management: −$2,652
• − HOA: −$11,220
• − Depreciation: −$6,400
• Taxable loss: −$6,499
• Est. tax savings @ 24.0%: +$1,560
• After-tax cash flow: $-1,717/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

-6.4% since first listed

7 events — show timeline

• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Price Changed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listed $235,000 OneKey® MLS as Distributed by MLS Grid