48-25 43rd St Unit 2J · New York, NY 11377

$599,000

2 bd · 1.0 ba · 900 sqft · Condo · 49 Days on market

Built 1935 Good 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
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Cash flow +3.5/30.0
• 1% rule +3.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

Key facts

• Landscaped gardens
• Updated kitchen
• Celtic park complex

Tags

• CELTIC PARK COMPLEX
• PRE-WAR ELEVATOR BUILDING
• LANDSCAPED GARDENS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• ON-SITE MANAGEMENT

Property features AI

Finance

• Financial info: No investor or income/expense details provided
• HOA & community: Cooperative (co-op) ownership

Exterior

• Parking: On-street parking (waitlist)
• Security: No specific security features listed
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Stock cooperative; Updated/remodeled condition; 7 stories total; Entry level on 2
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: 4 rooms total (includes bedrooms and living spaces); Entry level: 2
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; No central cooling
• Interior features: Elevator; Entrance foyer; Full basement
• Laundry & utility: Washer/dryer info not provided

🏢 Co-op / cooperative unit. The $599,000 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 2-bed/1.0-bath condo listed at $599k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $574k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $502k (16.1% below list).
• Recommended offer: $502k (16.1% 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.
• Market conditions: Rents rising fast (+6.1%/yr); 351 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $5,025/mo this rent would consume 83% of the median local household income ($73k/yr) (locally 5474% 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 $4k of loan paydown is wiped out by about $18k 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 49 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.
• Current owner paid $400k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent; built in 1935 — 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 $502,481 (16.1% 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 49 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — 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: 0.84% ✗
• Cap rate: 2.67%
• Cash-on-cash: -12.94%
• DSCR: 0.42
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -34.8%
• Equity multiple: -0.16×
• Total profit: $-195,026
• Equity at exit: $89,313

10-year hold

• IRR: -24.7%
• Equity multiple: -0.45×
• Total profit: $-243,279
• Equity at exit: $51,791

Cash invested: $167,720 (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 11377

• Home prices YoY: -28.8%
• Rents YoY: 6.1%
• Active inventory: 351
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $5,025 high
• Mortgage (P&I): −$3,141
• Tax est. 1.5%: −$749 /mo · $8,985/yr
• Insurance: −$250
• HOA est. from 1 same-building comp: −$1,638
• Vacancy / Maint / Mgmt: −$1,055
• Net cashflow: $-1,808

Break-even live

Break-even rent $7,313

Max offer price $337,386

Occupancy floor —

Sensitivity live

Price	-10% $-1,394	-5% $-1,601	+0% $-1,808	+5% $-2,015	+10% $-2,222
Rent	-10% $-2,205	-5% $-2,006	+0% $-1,808	+5% $-1,609	+10% $-1,411
Rate	-1.0pp $-1,506	-0.5pp $-1,656	base $-1,808	+0.5pp $-1,963	+1.0pp $-2,121

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34-35 44th St Astoria, NY	1.0–2.0	1.0–2.0	613	$5,794	$9.45	0d	23	1.09mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	8d	2	1.17mi
3705 30th St Long Island City, NY	2.0	1.0–2.0	700	$6,180	$8.83	11d	3	1.22mi
3 Court Sq W #907 Long Island City, NY	2.0	2.0	930	$6,300	$6.77	25d	1	1.33mi
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$6,380	$8.80	25d	2	1.37mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-15
   status $599,000 Pending 49 DOM
2. 2026-06-15
   days on market $599,000 Active 49 DOM
3. 2026-06-13
   days on market $599,000 Active 47 DOM
4. 2026-06-10
   days on market $599,000 Active 43 DOM
5. 2026-06-08
   days on market $599,000 Active 42 DOM
6. 2026-06-08
   days on market $599,000 Active 41 DOM
7. 2026-06-04
   days on market $599,000 Active 38 DOM
8. 2026-06-03
   days on market $599,000 Active 37 DOM
9. 2026-06-01
   days on market $599,000 Active 35 DOM
10. 2026-05-31
    days on market $599,000 Active 34 DOM
11. 2026-04-27
    listed $599,000 Active
12. 2025-09-05
    soldstatus $400,000 Closed 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

13. 2025-05-09
    status Pending 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

14. 2025-04-01
    status Active 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

15. 2025-03-03
    status Pending 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

16. 2025-03-03
    price $400,000 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

17. 2024-11-05
    price $349,000 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

18. 2024-09-12
    listed $375,000 Active 722-char remark

    Show marketing remark (722 chars)

    Located in the desirable Celtic Park, borders Woodside/Sunnyside. This charming pre-war Co-op complex Offering a 2-Bedroom, 1-Bathroom apartment. In a Pet Friendly building and the monthly maintenance fee covers everything-heat, hot water, gas, electricity, and property taxes. Residents enjoy two serene courtyards, modern "smart" laundry rooms, parking with electric car charging stations, a brand-new gym, storage lockers, bike storage, on-site security, and management. It's also conveniently located just 3 blocks from the 7 train, providing a quick 15-minute commute to Grand Central Station. No flip tax, and subletting is allowed after two years of ownership., Additional information: Appearance:Poor

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,298
• − Mortgage interest: −$33,553
• − Property taxes: −$8,985
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,824
• − Management: −$4,824
• − HOA: −$19,656
• − Depreciation: −$17,425
• Taxable loss: −$31,965
• Est. tax savings @ 24.0%: +$7,672
• After-tax cash flow: $-14,024/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

Good 75/100 Cosmetic rehab

This newly renovated 2-bedroom co-op in the Celtic Park complex offers modern updates and classic charm in a quiet, park-like setting.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both smart home integration — increases appeal to tech-savvy buyers
• Both smart lighting — enhances ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both smart home integration — increases appeal to tech-savvy buyers ↑
• Both smart lighting — enhances ambiance and energy efficiency ↑

ⓘ 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): 81,690
• Household income: $73,073
• Rent vs Own: 70.5% rent · 29.5% own
• Severe rent burden: 5474.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 40% Asian 36% Two or more races 20% White 20% Black 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4% Dominican 5%
• Common ancestry: Romanian 2%
• Foreign-born: 56% · Canada, China, Jamaica
• Languages at home: 27% English-only · Spanish 34% Other Indo-European 16% Chinese 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: ▼ -110.83%
• Current HPI: 273.9408
• Rent YoY: ▲ 6.09%
• 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

+59.7% since first listed

8 events — show timeline

• 2026-04-27 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-05 Sold (MLS) $400,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-03-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-03 Price Changed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-05 Price Changed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-12 Listed $375,000 OneKey® MLS as Distributed by MLS Grid