217-22 67th Ave #2 · New York, NY 11364

$220,000

1 bd · 1.0 ba · 635 sqft · Condo · 23 Days on market

Built 1950 Poor 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

1 Bedroom - Upper Corner unt , facing to South & Northern . Garden COOP Apartment Located In Oakland Gardens owner Occupied Must, Credit 700, As Low As 10% Allows Must Debts To Income Ratio 30% . Cats OK. 5% Of Flip Tax pay By Seller . Q27 TO flushing . Bus Q88 To Queens Center, Xbus QM 5/8/35 To NYC, Shopping Center Right On Bell Blvd & 73 Ave. Short Distance To All. School District # 26. maintenance fee $829.52 includes all except electric . owner occupied must . 5% of flip tax pay by seller . the unit do needs TLC . ESTATE SALES - SOLD AS IS CONDITION .

Key facts

• 2 parking spots
• Built 1950
• Listed 23 days

Property features AI

Finance

• HOA & community: Association: Bell Park Gardens

Exterior

• Parking: Parking lot with 2 unassigned spaces; Parking fee required ($30)
• Security: Building security
• Utilities: Electric service by Con Edison; Public sewer; Additional utilities: see remarks
• Home design: Stock cooperative; Bi-level layout; 2-story building; Entry on the 2nd floor
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront; Playground nearby; Sidewalks

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Located on the second floor
• Flooring: Carpet; Combination flooring; Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: Casement windows; Pull-down unfinished attic; Bicycle room; Outdoor space; Walk-up building; Building security
• Laundry & utility: Common area laundry room

🏢 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 1-bed/1.0-bath condo listed at $220k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 31% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($217k) 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 $216,700 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• GRM: 7.2

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: 3.7%
• Equity multiple: 1.15×
• Total profit: $9,393
• Equity at exit: $32,803

10-year hold

• IRR: 17.5%
• Equity multiple: 2.79×
• Total profit: $110,285
• 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 11364

• Rents YoY: 8.5%
• Active inventory: 248
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,551 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $495

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 76%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	24d	1	1.15mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.45mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $220,000 Active 23 DOM
2. 2026-06-17
   days on market $220,000 Active 22 DOM
3. 2026-06-16
   days on market $220,000 Active 21 DOM
4. 2026-06-15
   days on market $220,000 Active 20 DOM
5. 2026-06-13
   days on market $220,000 Active 18 DOM
6. 2026-06-10
   days on market $220,000 Active 14 DOM
7. 2026-06-08
   days on market $220,000 Active 13 DOM
8. 2026-06-08
   days on market $220,000 Active 12 DOM
9. 2026-06-04
   days on market $220,000 Active 9 DOM
10. 2026-06-03
    days on market $220,000 Active 8 DOM
11. 2026-06-02
    days on market $220,000 Active 7 DOM
12. 2026-06-01
    days on market $220,000 Active 6 DOM
13. 2026-05-31
    days on market $220,000 Active 5 DOM
14. 2026-05-26
    listed $220,000 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: $30,612
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,449
• − Management: −$2,449
• − Depreciation: −$6,400
• Taxable income: $2,591
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $5,317/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 · 15 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations to bring it up to modern standards, significantly impacting its resale and rental value.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen flooring — dated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major bathroom flooring — dated and in poor condition
• Major interior walls — dated wallpaper
• Major landscaping — basic landscaping

Value-add opportunities

• Both paint interior walls — refreshes the interior and makes it more appealing
• Both replace kitchen cabinets — modernizes the kitchen and makes it more functional
• Both replace kitchen flooring — modernizes the kitchen and makes it more functional
• Both replace bathroom fixtures — modernizes the bathroom and makes it more functional
• Both replace bathroom flooring — modernizes the bathroom and makes it more functional
• Both landscaping — enhances curb appeal and makes the property more inviting

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen flooring · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
bathroom flooring · dated and in poor condition	Major	$15,000–50,000
interior walls · dated wallpaper	Major	$15,000–50,000
landscaping · basic landscaping	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both paint interior walls — refreshes the interior and makes it more appealing ↑
• Both replace kitchen cabinets — modernizes the kitchen and makes it more functional ↑
• Both replace kitchen flooring — modernizes the kitchen and makes it more functional ↑
• Both replace bathroom fixtures — modernizes the bathroom and makes it more functional ↑
• Both replace bathroom flooring — modernizes the bathroom and makes it more functional ↑
• Both landscaping — enhances curb appeal and makes the property more inviting ↑

ⓘ 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

• 2026-05-26 Listed $220,000 OneKey® MLS as Distributed by MLS Grid