144-37 Grand Central Pkwy Unit 74E · New York, NY 11435

$190,000

1 bd · 1.0 ba · 750 sqft · Condo · 59 Days on market

Built 1947 ↓ 5% since listing

---

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).

• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks

This sunny, south-facing one-bedroom co-op is located on the second floor and features a private entrance. As a corner unit, it offers an open layout with high ceilings, wood floors, and a solid concrete base for living. Natural light fills the space, making it feel warm and inviting. The kitchen includes a gas oven and refrigerator—ready for everyday cooking. You can install washer and dryer in unit with the board approval. This unit needs TLC. The pet-friendly complex includes multiple laundry rooms, playgrounds, and a private park. It's close to public transportation, shopping, schools, and hospitals. This co-op requires Owner-occupied only (no rentals) and the board approval. Ther

Key facts

• Built 1947
• Listed 59 days

Property features AI

Finance

• HOA & community: Community features include park, playground, and sidewalks

Exterior

• Parking: Private unassigned parking in a parking lot (parking fee applies)
• Security: Building security; Fire alarm; Smoke detectors; Security lights; Video cameras; Other security features
• Utilities: Con-Edison electric; Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Trash collection (private); Underground utilities; Water connected
• Home design: Townhouse (stock cooperative); Entry level on 1; 2 total stories
• Construction: Brick construction
• Exterior features: Garden; Playground; Park and sidewalks in the community

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 2-story unit
• Flooring: Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Entrance foyer; Common area laundry room with multiple locations
• Laundry & utility: Common area laundry room; Multiple laundry locations

🏢 Co-op / cooperative unit. The $190,000 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 $190k.

Deal economics

• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 4.1% 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: Rents rising (+2.0%/yr); 170 active listings in the ZIP; 40 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 38% of the median local income ($80k/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 $1k of loan paydown is wiped out by about $6k 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 59 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $184,300 (3.0% 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 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 1.32% ✓
• Cap rate: 4.13%
• Cash-on-cash: -7.74%
• DSCR: 0.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.97% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.03×
• Total profit: $-54,560
• Equity at exit: $28,330

10-year hold

• IRR: -45.4%
• Equity multiple: -0.57×
• Total profit: $-83,320
• Equity at exit: $16,428

Cash invested: $53,200 (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 11435

• Rents YoY: 2.0%
• Active inventory: 170
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,509 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA est. from 1 same-building comp: −$1,012
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-343

Break-even live

Break-even rent $2,943

Max offer price $140,339

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	24d	1	0.20mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	0.26mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.27mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.27mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	0.27mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	20d	1	0.29mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	5d	1	0.34mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.35mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.60mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	24d	1	0.60mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.60mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	19d	1	0.60mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	2d	1	0.61mi
148-16 87th Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,300	$3.29	17d	1	0.65mi
14832 87th Ave Jamaica, NY	2.0	1.0	768	$2,800	$3.65	19d	1	0.65mi
80-12 165th St Unit 3 Jamaica, NY	2.0	1.5	960	$2,800	$2.92	24d	1	0.70mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	0.75mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	24d	1	0.75mi
16525 Union Tpke Fresh Meadows, NY	2.0	1.0	1000	$2,900	$2.90	24d	1	0.75mi
148-37 88th Ave Queens, NY	2.0	2.0	900	$3,500	$3.89	24d	1	0.80mi
71-82 Parsons Blvd Unit 702 Kew Gardens Hills, NY	1.0	1.0	1000	$2,900	$2.90	20d	1	0.84mi
71-82 Parsons Blvd Unit 503 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	24d	1	0.84mi
71-82 Parsons Blvd Unit 303 Kew Gardens Hills, NY	2.0	1.5	900	$4,000	$4.44	14d	1	0.84mi
71-82 Parsons Blvd Unit 516 Kew Gardens Hills, NY	2.0	1.5	900	$3,500	$3.89	3d	1	0.84mi
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.85mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	24d	1	0.90mi
14836 89th Ave Unit 3C Jamaica, NY	1.0	1.0	673	$2,900	$4.31	24d	1	0.91mi
7157 161 St Apt 5B Flushing, NY	2.0	2.0	1100	$2,600	$2.36	24d	1	0.94mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	24d	1	0.95mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	24d	1	0.97mi
15501 90th Ave Unit 3R Jamaica, NY	1.0	1.0	950	$2,100	$2.21	24d	1	0.99mi
88-56 162nd St Apt 2D Jamaica, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	0.99mi
7133 162nd St Unit 3F Fresh Meadows, NY	2.0	2.0	850	$2,700	$3.18	24d	1	0.99mi
89-15 Parsons Blvd Unit W6B Jamaica, NY	1.0	1.0	725	$2,100	$2.90	19d	1	0.99mi
7629 170th St Fresh Meadows, NY	2.0	1.0	924	$2,800	$3.03	3d	1	1.04mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	1.05mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	24d	1	1.18mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	24d	1	1.19mi
14725 94th Ave Jamaica, NY	1.0	1.0	525	$2,825	$5.38	4d	3	1.20mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,990	$3.56	24d	1	1.22mi

HOA detail condo

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

Listing history 4 events

1. 2026-05-01
   status Pending
2. 2026-03-31
   price $190,000
3. 2026-03-03
   listed $199,000 Active
4. 2026-03-03
   historical $199,000

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $30,104
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − HOA: −$12,144
• − Depreciation: −$5,527
• Taxable loss: −$6,827
• Est. tax savings @ 24.0%: +$1,638
• After-tax cash flow: $-2,480/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): 56,826
• Household income: $79,710
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 3361.0

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 0.78)
• Race & ethnicity: Hispanic / Latino 30% Black 25% Asian 23% White 13% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 5%
• Common ancestry: Scotch-Irish 2% Hispanic 1% Russian 1%
• Foreign-born: 53% · Canada, China, Jamaica
• Languages at home: 42% English-only · Spanish 29% Other Indo-European 14% Russian/Polish/Slavic 4%

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: ▼ -399.00%
• Current HPI: 206.3955
• Rent YoY: ▲ 1.97%
• 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

-4.5% since first listed

4 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Coming Soon $199,000 OneKey® MLS as Distributed by MLS Grid