225-08 Stronghurst Ave · New York, NY 11427

$270,000

2 bd · 1.0 ba · 700 sqft · Condo · 28 Days on market

Built 1955 Fair condition

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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 +12.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Garage
• Built 1955
• Listed 27 days

Property features AI

Finance

• HOA & community: Onsite association; Association amenities include a park; Association fee includes heat

Exterior

• Parking: Garage
• Utilities: Public sewer; Public trash collection
• Home design: Stock cooperative property
• Construction: Brick construction
• Exterior features: Brick construction; Near public transit; Near shops; Not waterfront

Interior

• Kitchen: Tankless water heater
• Bathrooms: One full bathroom
• Heating & cooling: Oil heating; Steam heating; Other heating; No central cooling
• Interior features: Other interior features; Full attic; Five total rooms; Two-story building with entry on second level; No pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $270k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-42 ($-506/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (14.5% below list).
• Recommended offer: $231k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: 113 active listings in the ZIP; 7 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 31% of the median local income ($89k/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 $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 28 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $210k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,854 (14.5% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — 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. 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. 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?
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: 0.86% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.7

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-46,402
• Equity at exit: $40,258

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-43,722
• Equity at exit: $23,345

Cash invested: $75,600 (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 11427

• Active inventory: 113
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,309 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$338 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-42

Break-even live

Break-even rent $2,362

Max offer price $263,899

Occupancy floor 97%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	1.11mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	24d	1	1.15mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	24d	1	1.17mi
246-04 Jericho Tpke Unit 2 Bellerose, NY	1.0	1.0	520	$2,200	$4.23	1d	1	1.31mi
248-15 89th Ave Unit 2nd Queens, NY	1.0	1.0	700	$2,200	$3.14	1d	1	1.44mi
206-03 Jamaica Ave Unit 2ND Queens Village, NY	1.0	1.0	630	$2,696	$4.28	24d	1	1.47mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	10d	1	1.48mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-18
   days on market $270,000 Active 28 DOM
2. 2026-06-17
   days on market $270,000 Active 27 DOM
3. 2026-06-16
   days on market $270,000 Active 26 DOM
4. 2026-06-15
   days on market $270,000 Active 25 DOM
5. 2026-06-13
   days on market $270,000 Active 23 DOM
6. 2026-06-10
   days on market $270,000 Active 19 DOM
7. 2026-06-08
   days on market $270,000 Active 18 DOM
8. 2026-06-08
   days on market $270,000 Active 17 DOM
9. 2026-06-04
   days on market $270,000 Active 14 DOM
10. 2026-06-03
    days on market $270,000 Active 13 DOM
11. 2026-06-02
    days on market $270,000 Active 12 DOM
12. 2026-06-01
    days on market $270,000 Active 11 DOM
13. 2026-05-31
    days on market $270,000 Active 10 DOM
14. 2026-05-22
    listed $270,000 Active
15. 2026-05-18
    historical $270,000
16. 2019-06-03
    soldstatus $210,000 Closed 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

17. 2019-01-18
    status Under Contract 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

18. 2018-12-06
    status Back On Market 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

19. 2018-09-07
    status Under Contract 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

20. 2018-09-05
    price $208,000 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

21. 2018-06-27
    price $200,000 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

22. 2018-06-27
    listed $20,000 New 208-char remark

    Show marketing remark (208 chars)

    Beautiful Large 2 Bedrooms With Large Dining Area, Upper Unit. Desirable Location. School District# 26. Close To Shops & Transportation., Additional information: Interior Features:Efficiency Kitchen,Lr/Dr

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,702
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$7,855
• Taxable loss: −$5,109
• Est. tax savings @ 24.0%: +$1,226
• After-tax cash flow: $720/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 · 6 photos

Fair 45/100 Moderate rehab

This 2-bedroom condo requires moderate repairs and maintenance, particularly in the kitchen and interior walls. Painting and updating the kitchen appliances would significantly enhance its value.

Repairs flagged

• Major kitchen appliances — No major appliances
• Minor paint — Some wear on walls

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both install modern kitchen appliances — Modern appliances improve functionality and appeal
• Both repair/replace air conditioning unit — A functional AC is essential for comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · No major appliances	Major	$15,000–50,000
paint · Some wear on walls	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both install modern kitchen appliances — Modern appliances improve functionality and appeal ↑
• Both repair/replace air conditioning unit — A functional AC is essential for comfort and energy efficiency ↑

ⓘ 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): 24,607
• Household income: $88,980
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 811.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: Asian 37% Black 22% Hispanic / Latino 17% White 14% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 49% English-only · Other Indo-European 16% Spanish 14% Tagalog/Filipino 5%

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: ▼ -436.66%
• Current HPI: 297.7969
• 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

+1250.0% since first listed

9 events — show timeline

• 2026-05-22 Listed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-18 Coming Soon $270,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-03 Sold (MLS) $210,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-12-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2018-09-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-09-05 Price Changed $208,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-27 Price Changed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-27 Listed $20,000 OneKey® MLS as Distributed by MLS Grid