117-14 Union Tpke Unit Ac3 · New York, NY 11415

$279,000

2 bd · 1.0 ba · 850 sqft · Condo · 27 Days on market

Built 1923 ↓ 7% since listing

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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
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Cash flow +4.0/30.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This spacious apartment features a large living room, master bedroom and a small bedroom with hardwood floors, high ceilings, east & west facing, gets good natural sunlights. Pet-friendly Elevator building features laundry room, live-in superintendent. Landscaped courtyard or garden area in the complex offers more peaceful outdoor space. Well-maintained common areas, new roof. Solar panels on the roof in some parts of the building, which can help reduce electric bills. Proximity to Forest Park offers hiking, green space, recreation. Access to shops, restaurants, cafes in Kew Gardens. Very close to E/F subway lines, which makes commuting into Manhattan or other parts of Queens/Brooklyn

Key facts

• East facing
• Laundry room
• West facing

Tags

• HARDWOOD FLOORS
• HIGH CEILINGS
• EAST FACING
• WEST FACING
• LANDSCAPED COURTYARD
• LAUNDRY ROOM

Property features AI

Finance

• Other: Living area documented as 850; Located on 6th floor or higher (unit described as 6th floor or higher)
• HOA & community: Building has elevators; Association maintains grounds; Trash service provided; Association fees include common area maintenance, gas, heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: No carport; Other parking
• Utilities: Electric service by Con-Edison; Public sewer; Utilities: see remarks
• Home design: Stock cooperative
• Construction: Block and brick construction
• Exterior features: Not waterfront; Block and brick construction

Interior

• Kitchen: Refrigerator
• Bedrooms: Entry level: 3
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heat; Electric cooling; Other heating
• Interior features: Double-pane windows; Partially finished basement with storage space; Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-781 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $275k (1.5% below list) — sets the bar for market timing.

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 (+1.4%/yr); 133 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 39% of the median local income ($86k/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 27 days — a 2% lower offer ($275k) 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: HOA is 38% of rent; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 49% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,815 (1.5% 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. Built in 1923 — 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: 1.01% ✓
• Cap rate: 2.93%
• Cash-on-cash: -12.00%
• DSCR: 0.47
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -41.4%
• Equity multiple: -0.27×
• Total profit: $-98,857
• Equity at exit: $41,600

10-year hold

• IRR: -89.5%
• Equity multiple: -1.12×
• Total profit: $-165,548
• Equity at exit: $24,123

Cash invested: $78,120 (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 11415

• Rents YoY: 1.4%
• Active inventory: 133
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,818 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA est. from 1 same-building comp: −$1,079
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $-781

Break-even live

Break-even rent $3,806

Max offer price $165,969

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	24d	1	0.29mi
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,990	$3.56	24d	1	0.37mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	24d	1	0.38mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$3,200	$3.56	24d	2	0.42mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	14d	1	0.42mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	24d	1	0.43mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	0.43mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	24d	1	0.44mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	12d	1	0.44mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,750	$3.44	2d	1	0.45mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	5d	2	0.48mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	24d	1	0.55mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	19d	1	0.56mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	24d	1	0.58mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$4,300	$4.59	20d	2	0.59mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	11d	1	0.68mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	24d	1	0.71mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	14d	1	0.72mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	24d	1	0.73mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,900	$5.57	5d	2	0.75mi
81-18 138th St Unit 3 Jamaica, NY	3.0	2.0	1000	$3,900	$3.90	24d	1	0.76mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	24d	1	0.78mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	2d	1	0.81mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	5d	1	0.84mi
8711 123rd St Richmond Hill, NY	3.0	1.0	1000	$3,000	$3.00	3d	1	0.85mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	7d	1	0.91mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	24d	1	0.91mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	24d	1	0.91mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	19d	1	0.91mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	24d	1	0.91mi
10620 70th Ave Unit 6B Forest Hills, NY	1.0	1.0	765	$3,600	$4.71	24d	1	0.94mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.96mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	20d	1	0.99mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	14d	1	1.00mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	24d	1	1.01mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	24d	1	1.02mi
6945 108th St Unit 3F Forest Hills, NY	2.0	1.0	900	$3,600	$4.00	6d	1	1.04mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.11mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	19d	1	1.12mi
10460 Queens Blvd Forest Hills, NY	1.0–2.0	1.0	916	$4,695	$5.12	5d	2	1.12mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $279,000 Active 27 DOM
2. 2026-06-17
   days on market $279,000 Active 26 DOM
3. 2026-06-16
   days on market $279,000 Active 25 DOM
4. 2026-06-15
   days on market $279,000 Active 24 DOM
5. 2026-06-13
   days on market $279,000 Active 22 DOM
6. 2026-06-10
   days on market $279,000 Active 18 DOM
7. 2026-06-08
   days on market $279,000 Active 17 DOM
8. 2026-06-08
   days on market $279,000 Active 16 DOM
9. 2026-06-04
   days on market $279,000 Active 13 DOM
10. 2026-06-03
    days on market $279,000 Active 12 DOM
11. 2026-06-02
    days on market $279,000 Active 11 DOM
12. 2026-06-01
    days on market $279,000 Active 10 DOM
13. 2026-05-31
    days on market $279,000 Active 9 DOM
14. 2026-05-22
    listed $279,000 Active
15. 2025-09-29
    listed $299,000 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 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% 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: $33,812
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,705
• − Management: −$2,705
• − HOA: −$12,948
• − Depreciation: −$8,116
• Taxable loss: −$13,870
• Est. tax savings @ 24.0%: +$3,329
• After-tax cash flow: $-6,045/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): 21,154
• Household income: $86,394
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1615.0

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 0.71)
• Race & ethnicity: White 43% Hispanic / Latino 25% Asian 20% Two or more races 11% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Scotch-Irish 6% Romanian 5% Scandinavian 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 18% Other Indo-European 12% Russian/Polish/Slavic 10%

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: ▼ -155.23%
• Current HPI: 184.7643
• Rent YoY: ▲ 1.35%
• 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

-6.7% since first listed

2 events — show timeline

• 2026-05-22 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-29 Listed $299,000 OneKey® MLS as Distributed by MLS Grid