226-26 Union Tpke Unit 2N · New York, NY 11364

$298,000

1 bd · 1.0 ba · 915 sqft · Condo · 23 Days on market

Built 1956

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Why this score? — see what drove the F 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
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Move right into this updated large 1-bedroom Jr4 co-op in sought-after Oakland Gardens, Bayside. Featuring hardwood floors throughout, an updated kitchen, generous walk-in closet space, and a versatile floor plan that can easily be converted into a 2-bedroom or create the perfect bonus room, office, or guest space. This well-maintained community offers three parking lots, beautifully landscaped grounds, a private swimming pool, convenient on-site laundry, dedicated bike storage, and additional storage options available for a nominal fee.

Key facts

• Updated kitchen
• Versatile floor plan
• Parking

Tags

• UPDATED KITCHEN
• GENEROUS WALK-IN CLOSET
• VERSATILE FLOOR PLAN
• PRIVATE SWIMMING POOL
• DEDICATED BIKE STORAGE
• ADDITIONAL STORAGE OPTIONS

Property features AI

Finance

• HOA & community: Association amenities include pool; Association fee billed monthly; Fee includes common area maintenance, gas, grounds care, heat, hot water, pool service, snow removal, trash, water; Additional monthly assessment fee of $179

Exterior

• Parking: Off-street parking; Parking lot space (1 total)
• Utilities: Con-Edison electric; Public sewer; Cable connected; Electricity connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: In-ground pool; No waterfront

Interior

• Kitchen: Dishwasher; Stainless steel appliances; Granite counters
• Bedrooms: Located on entry level 2
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window AC unit(s)
• Interior features: Elevator; Granite counters; Walk-in closet(s); Cats allowed, no dogs
• Laundry & utility: Common area laundry; Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $298k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (15.9% below list).
• Recommended offer: $251k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 0.5% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 8 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 ($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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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: HOA is 54% of rent; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $250,704 (15.9% 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. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.84% ✗
• Cap rate: 0.48%
• Cash-on-cash: -20.75%
• DSCR: 0.08
• GRM: 9.9

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: -47.1%
• Equity multiple: -0.51×
• Total profit: $-126,059
• Equity at exit: $44,433

10-year hold

• IRR: -33.0%
• Equity multiple: -0.97×
• Total profit: $-164,240
• Equity at exit: $25,766

Cash invested: $83,440 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,507 high
• Mortgage (P&I): −$1,563
• Tax est. 1.5%: −$372 /mo · $4,470/yr
• Insurance: −$124
• HOA est. from 3 same-building comps: −$1,364
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-1,443

Break-even live

Break-even rent $4,333

Max offer price $89,217

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	0.85mi
222-40 92nd Rd Unit 2nd Floor Jamaica, NY	2.0	1.0	1120	$3,400	$3.04	14d	1	0.93mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	25d	1	1.13mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	25d	1	1.14mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	19d	1	1.16mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	25d	1	1.19mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	21d	1	1.28mi
214-83 Jamaica Ave Unit 2R Queens Village, NY	1.0	1.0	650	$2,100	$3.23	25d	1	1.31mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $298,000 Active 23 DOM
2. 2026-06-17
   days on market $298,000 Active 22 DOM
3. 2026-06-16
   days on market $298,000 Active 21 DOM
4. 2026-06-15
   days on market $298,000 Active 20 DOM
5. 2026-06-13
   days on market $298,000 Active 18 DOM
6. 2026-06-10
   days on market $298,000 Active 14 DOM
7. 2026-06-08
   days on market $298,000 Active 13 DOM
8. 2026-06-08
   days on market $298,000 Active 12 DOM
9. 2026-06-04
   days on market $298,000 Active 9 DOM
10. 2026-06-03
    days on market $298,000 Active 8 DOM
11. 2026-06-02
    days on market $298,000 Active 7 DOM
12. 2026-06-01
    days on market $298,000 Active 6 DOM
13. 2026-05-31
    days on market $298,000 Active 5 DOM
14. 2026-05-26
    listed $298,000 Active
15. 2019-04-09
    historical
16. 2019-03-31
    price $288,000
17. 2019-03-26
    price $294,888
18. 2019-02-10
    listed $299,000 New

ⓘ 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 2/10 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,084
• − Mortgage interest: −$16,693
• − Property taxes: −$4,470
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,407
• − Management: −$2,407
• − HOA: −$16,368
• − Depreciation: −$8,669
• Taxable loss: −$22,419
• Est. tax savings @ 24.0%: +$5,381
• After-tax cash flow: $-11,934/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): 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

-0.3% since first listed

5 events — show timeline

• 2026-05-26 Listed $298,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-03-31 Price Changed $288,000 OneKey® MLS as Distributed by MLS Grid
• 2019-03-26 Price Changed $294,888 OneKey® MLS as Distributed by MLS Grid
• 2019-02-10 Listed $299,000 OneKey® MLS as Distributed by MLS Grid