25-34 Union St Unit 5G · New York, NY 11354

$319,000

2 bd · 1.0 ba · 925 sqft · Condo · 76 Days on market

Built 1950 Fair condition

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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
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.2/5.0
• Cash flow +2.8/30.0
• Condition / age +2.2/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This bright and spacious two-bedroom co-op is nestled in a well-maintained courtyard building and offers hardwood floors, ample closet space, window kitchen and bathroom. The apartment is in need of updating, providing a great opportunity for a new owner to customize and add personal touches. Ideally located close to supermarkets, shopping centers, post office, library, schools, and major highways. Convenient public transportation includes QM20 and QM2 express buses with easy transfers to the #7 train. Buses stop directly in front of the building with easy access to seating. Building amenities include a private playground, storage room, gym, and both outdoor and indoor parking. All utilitie

Key facts

• Storage room
• Private playground
• Ample closet space

Tags

• HARDWOOD FLOORS
• AMPLE CLOSET SPACE
• WINDOW KITCHEN
• WINDOW BATHROOM
• PRIVATE PLAYGROUND
• STORAGE ROOM

Property features AI

Finance

• HOA & community: Mitchell Gardens Co-Op #3 with monthly association fee

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Water connected; Public sewer; Phone connected
• Home design: Stock cooperative; One-level entry; Located in a 6-story building
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total rooms: 5 (includes bedroom count within rooms total)
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning unit(s)
• Interior features: Ceiling fan(s); Elevator; Original details; Walk-through kitchen; Finished full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $319k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (13.6% below list).
• Recommended offer: $276k (13.6% below list) — sets the bar for 1% rule.

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: Rents rising (+2.8%/yr); 661 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,757/mo this rent would consume 50% of the median local household income ($66k/yr) (locally 4119% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 76 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,658 (13.6% 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 76 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 2.28%
• Cash-on-cash: -14.33%
• DSCR: 0.36
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -43.5%
• Equity multiple: -0.34×
• Total profit: $-119,567
• Equity at exit: $47,564

10-year hold

• IRR: -76.4%
• Equity multiple: -1.14×
• Total profit: $-191,332
• Equity at exit: $27,581

Cash invested: $89,320 (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 11354

• Home prices YoY: -33.9%
• Rents YoY: 2.8%
• Active inventory: 661
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,757 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA est. from 2 same-building comps: −$1,040
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $-1,067

Break-even live

Break-even rent $4,107

Max offer price $164,627

Occupancy floor —

Sensitivity live

Price	-10% $-846	-5% $-957	+0% $-1,067	+5% $-1,177	+10% $-1,287
Rent	-10% $-1,285	-5% $-1,176	+0% $-1,067	+5% $-958	+10% $-849
Rate	-1.0pp $-906	-0.5pp $-986	base $-1,067	+0.5pp $-1,150	+1.0pp $-1,234

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 Union St Flushing, NY	1.0	1.0	800	$1,800	$2.25	20d	1	0.11mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	20d	1	0.37mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	9d	1	0.41mi
139-31 34th Ave Unit 3rd fl Flushing, NY	2.0	1.0	900	$2,500	$2.78	26d	1	0.55mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	3d	1	0.59mi
149-14 21st Ave Unit 1 Flushing, NY	3.0	2.5	1100	$4,000	$3.64	26d	1	0.59mi
140-16 34th Ave Apt 1003 Flushing, NY	2.0	2.0	1100	$3,300	$3.00	26d	1	0.60mi
14016 34th Ave Unit 1210 Flushing, NY	2.0	1.0	900	$3,000	$3.33	8d	1	0.60mi
140-16 34th Ave Unit 1113 Flushing, NY	2.0	1.0	900	$3,000	$3.33	26d	1	0.60mi
15019 26th Ave Flushing, NY	2.0	1.0	850	$2,800	$3.29	26d	1	0.62mi
141-25 Northern Blvd Unit A14 Flushing, NY	1.0	1.0	880	$2,350	$2.67	12d	1	0.70mi
13702 Northern Blvd Flushing, NY	1.0–2.0	1.0	850	$2,850	$3.35	9d	2	0.76mi
14809 Northern Blvd Flushing, NY	2.0–3.0	2.0	1056	$3,500	$3.31	16d	2	0.77mi
36-20 Parsons Blvd Unit 5D Flushing, NY	2.0	1.0	900	$2,600	$2.89	16d	1	0.77mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	13d	1	0.78mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	4d	2	0.79mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	17d	1	0.79mi
3371 Prince St Unit 6K Flushing, NY	2.0	2.0	768	$4,000	$5.21	17d	1	0.79mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	17d	1	0.79mi
3371 Prince St Unit 7C Flushing, NY	2.0	2.0	773	$4,025	$5.21	17d	1	0.79mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	3d	1	0.79mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	26d	1	0.82mi
3641 Union St Unit 2B Flushing, NY	2.0	1.0	968	$3,100	$3.20	26d	1	0.84mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	26d	1	0.84mi
14489 38th Ave Unit 4C Flushing, NY	1.0	1.0	790	$2,400	$3.04	26d	1	0.84mi
14238 37th Ave Unit 4C Flushing, NY	2.0	2.0	820	$2,800	$3.41	26d	1	0.86mi
13675 37th Ave Unit 3H Flushing, NY	1.0	1.0	750	$3,500	$4.67	1d	1	0.87mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	26d	1	0.87mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	12d	1	0.89mi
137-02 Northern Blvd Unit 2F Flushing, NY	1.0	1.0	800	$2,550	$3.19	1d	1	0.89mi
147-17 15th Ave Unit 1FL Whitestone, NY	3.0	1.0	798	$3,500	$4.39	26d	1	0.94mi
13835 39th Ave Flushing, NY	2.0	2.0	1014	$4,350	$4.29	26d	2	0.95mi
13835 39th Ave Flushing, NY	2.0–3.0	2.0	1000	$4,500	$4.50	3d	2	0.95mi
25-05 124th St Fl 1 Flushing, NY	2.0	1.0	750	$2,300	$3.07	20d	1	0.96mi
2353 124th St College Point, NY	1.0	1.0	1000	$2,650	$2.65	4d	1	0.96mi
40-10 149th St Fl 1 Flushing, NY	2.0	1.0	900	$2,200	$2.44	16d	1	0.98mi
40-10 149th St Fl 3 Flushing, NY	3.0	2.0	1030	$2,900	$2.82	14d	1	0.98mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	23d	1	1.05mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	20d	1	1.06mi
14731 Barclay Ave Flushing, NY	2.0	1.0	900	$2,500	$2.78	26d	1	1.07mi

HOA detail condo

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

Listing history 2 events

1. 2026-04-20
   status Pending
2. 2026-02-03
   listed $319,000 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 ≥99°F today · 14 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: $33,079
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,646
• − Management: −$2,646
• − HOA: −$12,480
• − Depreciation: −$9,280
• Taxable loss: −$18,223
• Est. tax savings @ 24.0%: +$4,373
• After-tax cash flow: $-8,429/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 · 14 photos

Fair 45/100 Moderate rehab

This two-bedroom co-op requires a moderate renovation to update the kitchen and bathroom, replace worn flooring, and refresh the paint. The property is located in a well-maintained courtyard building with amenities, but the interior needs significant work to increase its value.

Repairs flagged

• Major Kitchen cabinets — Worn and outdated, requiring replacement or renovation.
• Major Kitchen countertops — Worn and outdated, requiring replacement or renovation.
• Major Kitchen appliances — Outdated and possibly non-functional, requiring replacement.
• Major Bathroom fixtures — Outdated and possibly non-functional, requiring replacement.
• Major Bathroom tiling — Outdated and possibly old-style, requiring replacement.
• Major Flooring — Worn and in need of replacement or renovation.
• Major Paint — Chipped and uneven, requiring fresh coats.

Value-add opportunities

• Both Kitchen renovation — A modern kitchen will attract more buyers and renters.
• Both Bathroom renovation — A modern bathroom will attract more buyers and renters.
• Both Flooring replacement — New flooring will improve the overall appearance and functionality of the home.
• Both Painting — Fresh paint will improve the appearance and make the home more appealing.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated, requiring replacement or renovation.	Major	$15,000–50,000
Kitchen countertops · Worn and outdated, requiring replacement or renovation.	Major	$15,000–50,000
Kitchen appliances · Outdated and possibly non-functional, requiring replacement.	Major	$15,000–50,000
Bathroom fixtures · Outdated and possibly non-functional, requiring replacement.	Major	$15,000–50,000
Bathroom tiling · Outdated and possibly old-style, requiring replacement.	Major	$15,000–50,000
Flooring · Worn and in need of replacement or renovation.	Major	$15,000–50,000
Paint · Chipped and uneven, requiring fresh coats.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Kitchen renovation — A modern kitchen will attract more buyers and renters. ↑
• Both Bathroom renovation — A modern bathroom will attract more buyers and renters. ↑
• Both Flooring replacement — New flooring will improve the overall appearance and functionality of the home. ↑
• Both Painting — Fresh paint will improve the appearance and make the home more appealing. ↑

ⓘ 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): 53,028
• Household income: $66,010
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 4119.0

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: Majority Asian (64%)
• Race & ethnicity: Asian 64% White 15% Hispanic / Latino 14% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 1% Italian 1%
• Foreign-born: 66% · China, Canada, South Korea
• Languages at home: 22% English-only · Chinese 43% Spanish 14% Korean 11%

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: ▼ -131.64%
• Current HPI: 257.0828
• Rent YoY: ▲ 2.78%
• 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

2 events — show timeline

• 2026-04-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-03 Listed $319,000 OneKey® MLS as Distributed by MLS Grid