518 Beach 139th St Unit B6 · New York, NY 11694

$260,000

1 bd · 1.0 ba · 700 sqft · Condo · 47 Days on market

Built 1950

---

Why this score? — see what drove the C 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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• 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

Welcome to "The Suburbs in the City. " 518 Beach 139th St is located in the heart of Belle Harbor, which is NYC's #1 oceanfront community. Unit B6 is nestled quietly on the 2nd floor of the building and consists of 1 large bedroom, 1 bath and an eat-in kitchen. There are parking spaces available for rent in either the indoor or outdoor parking lots. A full time super is available to assist if needed. The unit and the building itself are in pristine condition and ready for you to move right in. You're minutes away from bridges, buses, trains and the ferry, as well as great restaurants, bars and shopping. Take advantage of this rare opportunity to own a piece of "The Rock" for only $260,000. Whether you are looking for a summer beach home or a primary residence you'll love this apartment! Brokers bring your buyers. Contact listing agent for a private showing.

Key facts

• Double-door closets
• Entry foyer
• Living area

Tags

• HARDWOOD FLOORS
• LIVING AREA
• EAT-IN GALLEY KITCHEN
• ENTRY FOYER
• DOUBLE-DOOR CLOSETS
• EXCEPTIONAL STORAGE

Property features AI

Finance

• Other: Living area reported as 700

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Trash collection (public); Water connected
• Home design: Stock cooperative; Entry level at level 2
• Construction: Stucco construction
• Exterior features: Stucco exterior; Not waterfront

Interior

• Kitchen: Gas cooktop; Gas oven; Microwave; Refrigerator
• Bedrooms: Entry level bedroom on level 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning unit(s)
• Interior features: Ceiling fan(s)
• Laundry & utility: No pets allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: 89 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 47 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 78% 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 $252,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.36%
• DSCR: 1.28
• GRM: 7.8

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-21,688
• Equity at exit: $38,767

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $7,667
• Equity at exit: $22,480

Cash invested: $72,800 (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 11694

• Home prices YoY: -33.2%
• Active inventory: 89
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,763 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $320

Break-even live

Break-even rent $2,359

Max offer price $260,000

Occupancy floor 83%

Sensitivity live

Price	-10% $499	-5% $410	+0% $320	+5% $230	+10% $140
Rent	-10% $101	-5% $211	+0% $320	+5% $429	+10% $538
Rate	-1.0pp $451	-0.5pp $386	base $320	+0.5pp $252	+1.0pp $184

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5-12 Beach 130th St Unit 2B Far Rockaway, NY	2.0	1.0	650	$3,000	$4.62	25d	1	0.44mi
115-08 Rockaway Beach Blvd Unit FRONT Far Rockaway, NY	1.0	1.0	450	$1,850	$4.11	25d	1	1.18mi

HOA detail condo

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

Listing history 8 events

1. 2026-05-18
   status Pending
2. 2026-03-12
   listed $260,000 Active
3. 2022-02-10
   soldstatus $280,000 Sold 891-char remark

   Show marketing remark (891 chars)

   Welcome to "The Suburbs in the City. " 518 Beach 139th St is located in the heart of Belle Harbor, which is NYC's #1 oceanfront community. Unit B6 is nestled quietly on the 2nd floor of the building and consists of 1 large bedroom, 1 bath and an eat-in kitchen. There are parking spaces available for rent in either the indoor or outdoor parking lots. A full time super is available to assist if needed. The unit and the building itself are in pristine condition and ready for you to move right in. You're minutes away from bridges, buses, trains and the ferry, as well as great restaurants, bars and shopping. Take advantage of this rare opportunity to own a piece of "The Rock" for only $260,000. Whether you are looking for a summer beach home or a primary residence you'll love this apartment! Brokers bring your buyers. Contact listing agent for a private showing.

4. 2021-07-01
   price $280,000 891-char remark

   Show marketing remark (891 chars)

   Welcome to "The Suburbs in the City. " 518 Beach 139th St is located in the heart of Belle Harbor, which is NYC's #1 oceanfront community. Unit B6 is nestled quietly on the 2nd floor of the building and consists of 1 large bedroom, 1 bath and an eat-in kitchen. There are parking spaces available for rent in either the indoor or outdoor parking lots. A full time super is available to assist if needed. The unit and the building itself are in pristine condition and ready for you to move right in. You're minutes away from bridges, buses, trains and the ferry, as well as great restaurants, bars and shopping. Take advantage of this rare opportunity to own a piece of "The Rock" for only $260,000. Whether you are looking for a summer beach home or a primary residence you'll love this apartment! Brokers bring your buyers. Contact listing agent for a private showing.

5. 2021-06-11
   status Pending
6. 2021-06-08
   historical
7. 2021-05-13
   listed $260,000 Active
8. 2021-05-11
   listed $260,000 Active 891-char remark

   Show marketing remark (891 chars)

   Welcome to "The Suburbs in the City. " 518 Beach 139th St is located in the heart of Belle Harbor, which is NYC's #1 oceanfront community. Unit B6 is nestled quietly on the 2nd floor of the building and consists of 1 large bedroom, 1 bath and an eat-in kitchen. There are parking spaces available for rent in either the indoor or outdoor parking lots. A full time super is available to assist if needed. The unit and the building itself are in pristine condition and ready for you to move right in. You're minutes away from bridges, buses, trains and the ferry, as well as great restaurants, bars and shopping. Take advantage of this rare opportunity to own a piece of "The Rock" for only $260,000. Whether you are looking for a summer beach home or a primary residence you'll love this apartment! Brokers bring your buyers. Contact listing agent for a private showing.

ⓘ 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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,159
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$2,098
• − Repairs & maintenance: −$2,653
• − Management: −$2,653
• − Depreciation: −$7,564
• Taxable loss: −$272
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $3,901/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
• City population: 7,731,280
• Population (ZIP): 21,430

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Black 8% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 2%
• Common ancestry: Romanian 4% Italian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Spanish 7% Russian/Polish/Slavic 4% Arabic 3%

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: ▼ -121.01%
• Current HPI: 243.2048
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

8 events — show timeline

• 2026-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Listed $260,000 OneKey® MLS as Distributed by MLS Grid
• 2022-02-10 Sold (MLS) $280,000 RLS at REBNY
• 2021-07-01 Price Changed $280,000 RLS at REBNY
• 2021-06-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-06-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-05-13 Listed $260,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-11 Listed $260,000 RLS at REBNY