47-27 Little Neck Pkwy Unit L-2 · New York, NY 11362

$169,000

1 bd · 1.0 ba · 500 sqft · Condo · 61 Days on market

Built 1965 Fair condition $760/mo HOA · 30% of rent

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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 +14.7/30.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located lobby studio with ample closet space, alcove bedroom and efficiency kitchen. Parking on site and storage room, inground pool, tennis and barbecues as well as resident laundry are building amenities. Building is convenient to LIRR, LIE and bus service. Easy to show

Key facts

• $760 HOA
• Community pool
• Built 1965

Property features AI

Finance

• Other: Additional monthly maintenance fee of $760
• HOA & community: Monthly association fee of $760; Association fee includes heat, hot water, water, sewer, common area maintenance, pool service, snow removal, trash; Building amenities: elevator, landscaping, maintenance, playground, pool, tennis courts, trash service

Exterior

• Parking: Assigned parking in a parking lot
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Updated/remodeled condition; One level entry; Building has 7 stories
• Construction: Brick construction
• Exterior features: No waterfront; Brick construction

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total rooms: 2
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor full bathroom; Elevator access; Granite counters; Blinds on windows; Common finished basement with storage space and walk-out access
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $42 ($507/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: 162 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1k of loan paydown is wiped out by about $5k 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 61 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• 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 $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1965 — 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: 1.48% ✓
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 5.6

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-24,189
• Equity at exit: $25,198

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-15,547
• Equity at exit: $14,612

Cash invested: $47,320 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,494 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$760
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $42

Break-even live

Break-even rent $2,440

Max offer price $169,000

Occupancy floor 93%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	24d	1	0.32mi
24120 Northern Blvd Unit 3K Little Neck, NY	—	1.0	500	$2,800	$5.60	15d	1	0.70mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	18d	1	0.77mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	43d	1	1.24mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	13d	1	1.26mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	19d	1	1.29mi
30 Barstow Rd Unit LL4 Great Neck, NY	—	1.0	415	$1,825	$4.40	43d	1	1.43mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	43d	1	1.46mi

HOA detail condo

• Monthly dues: $760 · $9,120/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $169,000 Active 61 DOM
2. 2026-06-17
   days on market $169,000 Active 60 DOM
3. 2026-06-16
   days on market $169,000 Active 59 DOM
4. 2026-06-15
   days on market $169,000 Active 58 DOM
5. 2026-06-13
   days on market $169,000 Active 56 DOM
6. 2026-06-10
   days on market $169,000 Active 52 DOM
7. 2026-06-08
   days on market $169,000 Active 51 DOM
8. 2026-06-08
   days on market $169,000 Active 50 DOM
9. 2026-06-04
   days on market $169,000 Active 47 DOM
10. 2026-06-03
    days on market $169,000 Active 46 DOM
11. 2026-06-01
    days on market $169,000 Active 44 DOM
12. 2026-05-31
    days on market $169,000 Active 43 DOM
13. 2026-04-19
    listed $175,000 Active
14. 2026-04-17
    historical $175,000
15. 2025-10-28
    soldstatus $165,000 Closed 289-char remark

    Show marketing remark (289 chars)

    Conveniently located lobby studio with ample closet space, alcove bedroom and efficiency kitchen. Parking on site and storage room, inground pool, tennis and barbecues as well as resident laundry are building amenities. Building is convenient to LIRR, LIE and bus service. Easy to show

16. 2025-06-06
    status Pending 289-char remark

    Show marketing remark (289 chars)

    Conveniently located lobby studio with ample closet space, alcove bedroom and efficiency kitchen. Parking on site and storage room, inground pool, tennis and barbecues as well as resident laundry are building amenities. Building is convenient to LIRR, LIE and bus service. Easy to show

17. 2025-02-27
    listed $168,000 Active 289-char remark

    Show marketing remark (289 chars)

    Conveniently located lobby studio with ample closet space, alcove bedroom and efficiency kitchen. Parking on site and storage room, inground pool, tennis and barbecues as well as resident laundry are building amenities. Building is convenient to LIRR, LIE and bus service. Easy to show

18. 2025-02-25
    historical $168,000 289-char remark

    Show marketing remark (289 chars)

    Conveniently located lobby studio with ample closet space, alcove bedroom and efficiency kitchen. Parking on site and storage room, inground pool, tennis and barbecues as well as resident laundry are building amenities. Building is convenient to LIRR, LIE and bus service. Easy to show

ⓘ 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) · 73% 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,927
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$2,394
• − Management: −$2,394
• − HOA: −$9,120
• − Depreciation: −$4,916
• Taxable loss: −$1,744
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $926/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 · 12 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations, focusing on appliances, fixtures, and carpet, to significantly enhance its resale and rental value.

Repairs flagged

• Major Appliances — Outdated and worn
• Major Bathroom fixtures — Dated appearance
• Major Living room carpet — Worn and needs replacement

Value-add opportunities

• Resale Replace outdated appliances — Modern appliances enhance appeal
• Resale Update bathroom fixtures — Modern fixtures improve aesthetics
• Both Replace worn carpet — Fresh carpet improves comfort and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Outdated and worn	Major	$15,000–50,000
Bathroom fixtures · Dated appearance	Major	$15,000–50,000
Living room carpet · Worn and needs replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Replace outdated appliances — Modern appliances enhance appeal ↑
• Resale Update bathroom fixtures — Modern fixtures improve aesthetics ↑
• Both Replace worn carpet — Fresh carpet improves comfort and appearance ↑

ⓘ 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
• 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

+4.2% since first listed

6 events — show timeline

• 2026-04-19 Listed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Coming Soon $175,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-28 Sold (MLS) $165,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-02-27 Listed $168,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-25 Coming Soon $168,000 OneKey® MLS as Distributed by MLS Grid