242-68 Horace Harding Expy · New York, NY 11362

$329,900

2 bd · 1.0 ba · 950 sqft · Condo · 68 Days on market

Built 1953 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 +14.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this bright, pleasant second-floor CORNER 2 BEDROOM BEECHHILLS garden apartment; a hidden gem offering a rare combination of incredible value and creative potential. Perched as a corner unit, this home enjoys extra privacy and natural light, waiting for a new owner to bring their vision to life. While this home is ready for some TLC, the heavy lifting in the bathroom is already done for you; enjoy a beautifully renovated space featuring a modern stall shower. The rest of the apartment serves as a blank canvas, offering you the exciting opportunity to choose your own flooring, paint, and kitchen finishes to create a space that is uniquely yours—without paying a premium for s

Key facts

• Renovated bathroom
• Corner unit
• 2 parking spots

Tags

• CORNER UNIT
• RENOVATED BATHROOM
• SHORT STROLL TO SHOPS

Property features AI

Exterior

• Parking: Off-street parking (2 spaces)
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity connected; Natural gas connected; Private trash collection; Water connected
• Home design: Stock cooperative; Two-story building; Entry on the second floor; Actual property condition
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Located on the second floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning unit(s)
• Interior features: Soaking tub; Partially finished attic with pull-down stairs; No basement
• Laundry & utility: Washer and dryer located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $330k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $95 ($1k/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 $301k (8.9% below list).
• Recommended offer: $301k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 162 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 68 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: built in 1953 — 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 $300,556 (8.9% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 9% 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 1953 — 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: 0.91% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 9.1

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-47,392
• Equity at exit: $49,189

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-33,332
• Equity at exit: $28,524

Cash invested: $92,372 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,006 high
• Mortgage (P&I): −$1,730
• Tax est. 1.5%: −$412 /mo · $4,948/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $95

Break-even live

Break-even rent $2,886

Max offer price $329,900

Occupancy floor 92%

Sensitivity live

Price	-10% $323	-5% $209	+0% $95	+5% $-19	+10% $-133
Rent	-10% $-143	-5% $-24	+0% $95	+5% $213	+10% $332
Rate	-1.0pp $261	-0.5pp $178	base $95	+0.5pp $9	+1.0pp $-78

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245-63 61st Ave Unit 1FL Flushing, NY	3.0	2.0	1000	$3,000	$3.00	26d	1	0.31mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	26d	1	0.46mi
253-15 60th Ave Unit 2nd Floor Flushing, NY	3.0	2.0	1100	$3,500	$3.18	5d	1	0.58mi
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,200	$3.56	1d	1	0.70mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	6d	1	0.78mi
4245 247th St Little Neck, NY	3.0	1.0	1080	$3,800	$3.52	26d	1	0.81mi
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	26d	1	0.87mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	21d	1	0.87mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	26d	1	0.92mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	21d	1	1.20mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	1.24mi
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	4d	1	1.27mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	26d	1	1.31mi

HOA detail condo

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

Listing history 3 events

1. 2026-04-11
   status Pending
2. 2026-02-04
   status Active
3. 2026-01-29
   listed $329,900 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 ≥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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,067
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,885
• − Management: −$2,885
• − Depreciation: −$9,597
• Taxable loss: −$4,379
• Est. tax savings @ 24.0%: +$1,051
• After-tax cash flow: $2,185/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 · 12 photos

Fair 45/100 Moderate rehab

This corner unit in BeechHills requires moderate repairs, particularly to the roof and exterior siding, but has potential for significant value increase with these repairs and updates.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Moderate exterior siding — The siding appears to be in fair condition, but may need some repairs.

Value-add opportunities

• Resale repair roof — A repaired roof will significantly increase the home's resale value.
• Resale repair exterior siding — A repaired exterior will improve the home's curb appeal and resale value.
• Resale paint interior walls — Fresh paint will improve the home's appearance and resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The siding appears to be in fair condition, but may need some repairs.	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Resale repair roof — A repaired roof will significantly increase the home's resale value. ↑
• Resale repair exterior siding — A repaired exterior will improve the home's curb appeal and resale value. ↑
• Resale paint interior walls — Fresh paint will improve the home's appearance and resale 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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 9%

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: ▼ -117.12%
• Current HPI: 259.773
• 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

3 events — show timeline

• 2026-04-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Listed $329,900 OneKey® MLS as Distributed by MLS Grid