18-55 Corporal Kennedy St Unit 6H · New York, NY 11360

$395,000

1 bd · 1.0 ba · 874 sqft · Condo public records · 67 Days on market

Built 1961 ↓ 7% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0

Listing remarks

Spring into comfort with this beautifully renovated, "H-line" residence—the largest and most sought-after two-bedroom layout in the prestigious Kennedy Street Quad. This sun-drenched split-bedroom floor plan features gleaming new hardwood floors, abundant walk-in closets, and a versatile layout perfect for modern living. Enjoy breathtaking sunsets and dual bridge views from the comfort of your home. The monthly maintenance is remarkably inclusive, covering heat, cooking gas, and property taxes. Key Highlights: * Prime Location: Situated in the heart of Bay Terrace with seamless access to premier shopping, dining, and transit. * Easy Commute: Convenient to local/express b

Key facts

• Dual bridge views
• Renovated residence
• Walk-in closets

Tags

• RENOVATED RESIDENCE
• SPLIT-BEDROOM FLOOR PLAN
• WALK-IN CLOSETS
• DUAL BRIDGE VIEWS
• PRIME LOCATION
• DEDICATED GARAGE PARKING

Property features AI

Finance

• Other: Community playground; Sidewalks
• HOA & community: Association managed by Metro Management; Building Link; Elevator(s); Landscaping; Grounds maintenance

Exterior

• Parking: 1 parking space; Garage with garage door opener; Parking fee applies
• Security: Building security; Fire alarm; Fire escape; Fire sprinkler system; Key card entry; Security lights; Smoke detectors; Video cameras
• Utilities: Electric service by Con-Edison; Public sewer; Utilities: See remarks
• Home design: Stock cooperative; Updated/remodeled condition; Entry on 6th floor; 6-story building
• Construction: Concrete perimeter foundation; Slab foundation
• Exterior features: Brick exterior; No waterfront

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Gas range; Microwave; Oven; Refrigerator; Stainless steel appliances
• Bedrooms: Located on 6th floor
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating
• Interior features: Breakfast bar; Built-in features; Ceiling fan(s); Eat-in kitchen; His and hers closets; Natural woodwork; Open floorplan; Pantry; Primary bathroom; Quartz/Quartzite counters; Storage; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $-510 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (18.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (28.9% below list).
• Recommended offer: $281k (28.9% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: 219 active listings in the ZIP; 22 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 34% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 3 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

• 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 $280,960 (28.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — 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. 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: 0.71% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.54%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.19×
• Total profit: $20,585
• Equity at exit: $183,409

10-year hold

• IRR: 6.5%
• Equity multiple: 2.01×
• Total profit: $112,249
• Equity at exit: $287,249

Cash invested: $110,600 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,810 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $-510

Break-even live

Break-even rent $3,455

Max offer price $321,177

Occupancy floor —

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	11d	1	0.12mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	24d	1	0.14mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	24d	1	0.18mi
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	24d	1	0.19mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	19d	1	0.21mi
1816 Bell Blvd Bayside, NY	1.0	1.0	1000	$2,500	$2.50	24d	1	0.32mi
16-66 Bell Blvd Unit 736 Bayside, NY	—	1.0	600	$2,350	$3.92	24d	1	0.34mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$2,600	$4.33	2d	4	0.37mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.42mi
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	24d	1	0.49mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	0.62mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.63mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	7d	1	1.26mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.26mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	24d	1	1.26mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	19d	1	1.26mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	24d	1	1.27mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.28mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	22d	1	1.33mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	19d	1	1.45mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	7d	2	1.47mi
16710 Crocheron Ave Unit 3L Flushing, NY	1.0	1.0	850	$2,350	$2.76	19d	1	1.48mi

HOA detail condo

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

Listing history 8 events

1. 2026-05-14
   status Pending
2. 2026-03-09
   listed $395,000 Active
3. 2026-03-07
   listed $395,000 Active
4. 2026-02-09
   historical
5. 2026-01-02
   price $395,000
6. 2025-10-01
   price $399,000
7. 2025-08-10
   price $408,000
8. 2025-06-24
   listed $425,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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: $33,715
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,697
• − Management: −$2,697
• − Depreciation: −$11,491
• Taxable loss: −$13,196
• Est. tax savings @ 24.0%: +$3,167
• After-tax cash flow: $-2,955/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% 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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-7.1% since first listed

8 events — show timeline

• 2026-05-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-09 Listed $395,000 RLS at REBNY
• 2026-03-07 Listed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-01 Price Changed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-10 Price Changed $408,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-24 Listed $425,000 OneKey® MLS as Distributed by MLS Grid