5015 39th St Unit 1F · New York, NY 11104

$249,000

1 bd · 1.0 ba · 565 sqft · SingleFamily · 110 Days on market

Built 1960

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.6/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

Key facts

• Built 1960
• Listed 110 days

Property features AI

Finance

• HOA & community: Pets allowed with size limits

Exterior

• Parking: On-street parking
• Utilities: Electric service by Con-Edison; Public sewer; Cable available; Electricity available; Phone available
• Home design: Stock cooperative; Entry on level 1; Six-story building
• Construction: Brick construction
• Exterior features: Outdoor space; Bicycle room

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Includes a bedroom on the first floor
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air-conditioning units
• Interior features: First-floor bedroom; Casement windows; Finished basement
• Laundry & utility: Laundry in basement

🏢 Co-op / cooperative unit. The $249,000 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 single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 fast (+6.3%/yr); 78 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $3,782/mo this rent would consume 56% of the median local household income ($81k/yr) (locally 1859% 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 (-2.7%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-2.7% appreciation + 6.3% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.80%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.71% appreciation · 6.31% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 1.81×
• Total profit: $56,431
• Equity at exit: $40,361

10-year hold

• IRR: 29.0%
• Equity multiple: 4.06×
• Total profit: $213,017
• Equity at exit: $27,126

Cash invested: $69,720 (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 11104

• Home prices YoY: -1.2%
• Rents YoY: 6.3%
• Active inventory: 78
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,782 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $1,267

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 62%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	7d	2	0.98mi
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$4,240	$5.85	24d	2	1.13mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$4,840	$6.91	10d	3	1.20mi
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$3,576	$5.83	1d	26	1.24mi

Listing history 17 events

1. 2026-06-18
   days on market $249,000 Active 110 DOM
2. 2026-06-17
   days on market $249,000 Active 109 DOM
3. 2026-06-15
   days on market $249,000 Active 107 DOM
4. 2026-06-13
   days on market $249,000 Active 105 DOM
5. 2026-06-10
   days on market $249,000 Active 101 DOM
6. 2026-06-08
   days on market $249,000 Active 100 DOM
7. 2026-06-08
   days on market $249,000 Active 99 DOM
8. 2026-06-04
   days on market $249,000 Active 96 DOM
9. 2026-06-03
   days on market $249,000 Active 95 DOM
10. 2026-06-01
    days on market $249,000 Active 93 DOM
11. 2026-05-31
    days on market $249,000 Active 92 DOM
12. 2026-05-05
    status Active 1643-char remark

    Show marketing remark (1643 chars)

    Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

13. 2026-05-05
    status Active

    Show marketing remark (1643 chars)

    Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

14. 2026-04-07
    historical 1643-char remark

    Show marketing remark (1643 chars)

    Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

15. 2026-02-01
    listed $249,000 Active

    Show marketing remark (1643 chars)

    Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

16. 2026-02-01
    listed $249,000 Active 1643-char remark

    Show marketing remark (1643 chars)

    Brand new renovation! Charming, spacious and bright alcove studio apartment in a great co-op building with a fantastic Sunnyside/LIC location. Enjoy cooking in a modern chefs kitchen that has just been fully gut renovated! Brand new stainless steel appliances, modern tile backsplash, stylish tile flooring and gorgeous quartz counters provide generous workspace for meal preparation. Apartment features wall to wall windows with two exposures and refinished hardwood flooring throughout. New light fixtures throughout and the entire apartment just painted. A bright and renovated bathroom with new tile flooring, new vanity, toilet, medicine cabinet, modern fixtures and lighting. Four large east facing windows overlooking the garden in the back of the building offer a quiet and peaceful light filled apartment. The alcove provides a cozy bedroom to retreat to after a long day. Ample and extra deep closets. The building is immaculately maintained with a fully planted front entryway. Relish the tranquility of this quiet tree lined neighborhood, while being conveniently located to various transportation options for easy communting (40th Street station of the #7 train). Building features live in super, laundry, bike room, private garden and spectacular roof deck! . Great style, great location and a great price! Apartment Features: Eastern garden views. Neighborhood Information: NYSC, Starbucks, quaint shops, restaurants and supermarkets. Maintenance $868. G & E separate. Beautifully planted backyard that provides a serene green space and a spectacular roof deck. Pets ok on approval. BOARD APPLICATION AND APPROVAL NECESSARY.

17. 2026-01-20
    historical $249,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,378
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,630
• − Management: −$3,630
• − Depreciation: −$7,244
• Taxable income: $11,946
• Est. tax owed @ 24.0%: −$2,867
• After-tax cash flow: $12,332/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): 26,132
• Household income: $80,709
• Rent vs Own: 79.6% rent · 20.4% own
• Severe rent burden: 1859.0

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 0.70)
• Race & ethnicity: White 38% Asian 28% Hispanic / Latino 27% Two or more races 16% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Scandinavian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 46% · Canada, Jamaica, China
• Languages at home: 38% English-only · Spanish 24% Other Indo-European 18% Other Asian/Pacific 6%

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: ▼ -2.71%
• Current HPI: 224.0688
• Rent YoY: ▲ 6.31%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-05 Relisted — RLS at REBNY
• 2026-05-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-07 Delisted — RLS at REBNY
• 2026-02-01 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-01 Listed $249,000 RLS at REBNY
• 2026-01-20 Coming Soon $249,000 OneKey® MLS as Distributed by MLS Grid