54-40 Little Neck Pkwy Unit 6M · New York, NY 11362

$269,000

1 bd · 1.0 ba · 720 sqft · Condo · 113 Days on market

Built 1961

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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 +13.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated One Bedroom on top floor of beautifully maintained building with spectacular views of Little Neck Bay and Throgs Neck Bridge. Lvg rm with separate dining area, eff kitchen w/SS appliances and quartz counter tops. Close to all major highways, shops, restaurants and express/local buses right outside door. 24 hr security, laundry facilities. Parking wait list., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Garage
• Community pool
• Built 1961

Property features AI

Finance

• HOA & community: Additional assessment fee of $32.50 monthly; Community amenities: Fitness center, Pool

Exterior

• Parking: Carport; Covered parking; Garage; On-street parking; Parking lot; Private parking
• Security: Building security; Fire alarm; Fire escape; Key card entry; Security gate; Smoke detectors
• Utilities: Electric service: Con-Edison; Public sewer; Cable available; Electricity available
• Home design: Stock cooperative; Updated/remodeled condition; 6-story building; One-level unit; Located on entry level 1; Not waterfront
• Construction: Brick construction
• Exterior features: Courtyard; Front yard; Garden; Landscaped grounds; Near public transit; Near shops; Near school; Sprinklers in front

Interior

• Kitchen: Dishwasher; Exhaust fan; Freezer; Microwave; Oven; Refrigerator; Stainless steel appliances; Trash compactor
• Bedrooms: Total rooms: 4
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Elevator; Galley-style kitchen; High ceilings; Covered deck/patio; Outdoor space; Pool/Spa access; Visitor bathroom
• Laundry & utility: Common area laundry; Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $18 ($215/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (10.3% below list).
• Recommended offer: $241k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 162 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 113 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $64k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $241,383 (10.3% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.90% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.3

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-42,393
• Equity at exit: $40,109

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-35,222
• Equity at exit: $23,258

Cash invested: $75,320 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,414 high
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA est. from 2 same-building comps: −$30
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $18

Break-even live

Break-even rent $2,391

Max offer price $269,000

Occupancy floor 94%

Sensitivity live

Price	-10% $204	-5% $111	+0% $18	+5% $-75	+10% $-168
Rent	-10% $-173	-5% $-77	+0% $18	+5% $113	+10% $209
Rate	-1.0pp $153	-0.5pp $86	base $18	+0.5pp $-52	+1.0pp $-123

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	26d	1	0.75mi
24120 Northern Blvd Unit 3K Little Neck, NY	—	1.0	500	$2,800	$5.60	17d	1	0.98mi
260-51 73rd Ave Queens, NY	1.0	1.0	518	$2,200	$4.25	7d	1	1.09mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.13mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	45d	1	1.43mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	15d	1	1.43mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-21
   days on market $269,000 Active 113 DOM
2. 2026-06-18
   days on market $269,000 Active 110 DOM
3. 2026-06-17
   days on market $269,000 Active 109 DOM
4. 2026-06-15
   days on market $269,000 Active 107 DOM
5. 2026-06-13
   days on market $269,000 Active 105 DOM
6. 2026-06-10
   days on market $269,000 Active 101 DOM
7. 2026-06-08
   days on market $269,000 Active 100 DOM
8. 2026-06-08
   days on market $269,000 Active 99 DOM
9. 2026-06-04
   days on market $269,000 Active 96 DOM
10. 2026-06-03
    days on market $269,000 Active 95 DOM
11. 2026-06-01
    days on market $269,000 Active 93 DOM
12. 2026-05-31
    days on market $269,000 Active 92 DOM
13. 2026-05-01
    price $269,000
14. 2026-03-17
    price $299,999
15. 2026-03-01
    listed $333,000 Active
16. 2026-02-15
    historical $333,000
17. 2019-10-03
    soldstatus $215,000 Closed 458-char remark

    Show marketing remark (458 chars)

    Renovated One Bedroom on top floor of beautifully maintained building with spectacular views of Little Neck Bay and Throgs Neck Bridge. Lvg rm with separate dining area, eff kitchen w/SS appliances and quartz counter tops. Close to all major highways, shops, restaurants and express/local buses right outside door. 24 hr security, laundry facilities. Parking wait list., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

18. 2019-07-10
    status Under Contract 458-char remark

    Show marketing remark (458 chars)

    Renovated One Bedroom on top floor of beautifully maintained building with spectacular views of Little Neck Bay and Throgs Neck Bridge. Lvg rm with separate dining area, eff kitchen w/SS appliances and quartz counter tops. Close to all major highways, shops, restaurants and express/local buses right outside door. 24 hr security, laundry facilities. Parking wait list., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

19. 2019-06-17
    listed $215,000 New 458-char remark

    Show marketing remark (458 chars)

    Renovated One Bedroom on top floor of beautifully maintained building with spectacular views of Little Neck Bay and Throgs Neck Bridge. Lvg rm with separate dining area, eff kitchen w/SS appliances and quartz counter tops. Close to all major highways, shops, restaurants and express/local buses right outside door. 24 hr security, laundry facilities. Parking wait list., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

20. 2019-05-07
    historical
21. 2019-03-04
    status Under Contract
22. 2019-02-04
    listed $218,000 New
23. 2018-02-13
    soldstatus $180,000 Closed
24. 2017-12-12
    status Under Contract
25. 2017-10-13
    listed $189,000 New

ⓘ 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 2/10 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: $28,966
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − HOA: −$360
• − Depreciation: −$7,825
• Taxable loss: −$4,302
• Est. tax savings @ 24.0%: +$1,033
• After-tax cash flow: $1,248/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

+42.3% since first listed

13 events — show timeline

• 2026-05-01 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $299,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listed $333,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-15 Coming Soon $333,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-03 Sold (MLS) $215,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-06-17 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-03-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-04 Listed $218,000 OneKey® MLS as Distributed by MLS Grid
• 2018-02-13 Sold (MLS) $180,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-10-13 Listed $189,000 OneKey® MLS as Distributed by MLS Grid