67-29 Bell Blvd #2 · New York, NY 11364

$295,000

2 bd · 1.0 ba · 775 sqft · Condo · 76 Days on market

Built 1950 Fair condition

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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 +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This corner-end unit features two bedrooms, Sunny & Bright with the upper end view offering a garden view and three parking lots around. It is situated within School District #26, serving PS46, MS74, Cardozo High School, and Queens Community College. The unit has convenient access to public transportation, including buses Q27 to Flushing, Q88 to Queens Center, and QM5/8/35 to NYC. Additional storage space is available in the attic. The apartment is equipped with a washer and is being sold in its current condition. owner occupied required , sublet is prohibited . A down payment as low as 10% may be allowed, contingent on a DTI ratio of 30%. Cat is permitted in the house. The monthly ma

Key facts

• 2 garage spots
• Built 1950
• Listed 76 days

Property features AI

Finance

• Other: Pets: Cats allowed, no dogs
• HOA & community: Association: Bell Park Gardens

Exterior

• Parking: Common unassigned parking lot (parking fee applies)
• Security: Building security
• Utilities: Con-Edison electric; Natural gas connected; Public sewer; Water connected; Private trash collection
• Home design: Stock cooperative; Two-story building; Entry on second level; Top-floor unit
• Construction: Other construction materials; Other foundation details; Attic with pull-down stairs, storage, unfinished
• Exterior features: Playground and sidewalks in the community; Outdoor space

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Located on the second (top) floor
• Flooring: Combination flooring
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating (natural gas); Wall/window air conditioning units
• Interior features: Original details; Casement windows; Accessible common areas and entrance; Bicycle room; Outdoor space
• Laundry & utility: Washer included; Laundry room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $295k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $213 ($3k/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 $285k (3.4% below list).
• Recommended offer: $277k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 35% 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 $9k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $83k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($277k) 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 $277,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 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. 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.
10. 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.
11. 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: 0.97% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.10%
• DSCR: 1.14
• GRM: 8.6

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-19,111
• Equity at exit: $43,985

10-year hold

• IRR: 9.0%
• Equity multiple: 1.84×
• Total profit: $69,591
• Equity at exit: $25,506

Cash invested: $82,600 (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 11364

• Rents YoY: 8.5%
• Active inventory: 248
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,851 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $213

Break-even live

Break-even rent $2,581

Max offer price $295,000

Occupancy floor 88%

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: $73,750
• Closing costs: $8,850
• 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	0.31mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	24d	1	0.74mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	0.81mi
203-06 53rd Ave Unit 2 Flushing, NY	1.0	1.0	850	$2,200	$2.59	24d	1	0.93mi
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	1.17mi
01 194th St Unit Main Fresh Meadows, NY	1.0	1.0	895	$2,400	$2.68	15d	1	1.23mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.24mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.47mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.49mi

HOA detail condo

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

Listing history 9 events

1. 2026-06-13
   statusdays on market $295,000 Pending 76 DOM
2. 2026-06-10
   days on market $295,000 Active 75 DOM
3. 2026-06-08
   days on market $295,000 Active 74 DOM
4. 2026-06-08
   days on market $295,000 Active 73 DOM
5. 2026-06-04
   days on market $295,000 Active 70 DOM
6. 2026-06-03
   days on market $295,000 Active 69 DOM
7. 2026-06-01
   days on market $295,000 Active 67 DOM
8. 2026-05-31
   days on market $295,000 Active 66 DOM
9. 2026-03-26
   listed $295,000 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: $34,207
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,737
• − Management: −$2,737
• − Depreciation: −$8,582
• Taxable loss: −$2,272
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $3,105/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 · 13 photos

Fair 45/100 Moderate rehab

This two-bedroom condo requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, flooring, and interior paint. Updating these elements can significantly enhance the home's resale and rental potential.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate flooring — dated and worn
• Moderate interior paint — worn and faded

Value-add opportunities

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance and value
• Both replace kitchen cabinets — New cabinets can greatly enhance the kitchen's functionality and aesthetic
• Both replace bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appeal
• Both update flooring — New flooring can transform the living area and increase the home's value
• Both prune bushes — Well-maintained landscaping can enhance curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
flooring · dated and worn	Moderate	$3,000–15,000
interior paint · worn and faded	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both replace kitchen cabinets — New cabinets can greatly enhance the kitchen's functionality and aesthetic ↑
• Both replace bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appeal ↑
• Both update flooring — New flooring can transform the living area and increase the home's value ↑
• Both prune bushes — Well-maintained landscaping can enhance curb appeal and property value ↑

ⓘ 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): 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

1 event — show timeline

• 2026-03-26 Listed $295,000 OneKey® MLS as Distributed by MLS Grid