233-16 131st Ave · New York, NY 11422

$229,000

1 bd · 1.0 ba · 600 sqft · Condo · 9 Days on market

Built 1950

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Why this score? — see what drove the C 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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

Key facts

• Quartz countertops
• White subway tiles
• New kitchen

Tags

• NEW KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PORCELAIN TILED FLOORS
• NEW BATHROOM
• WHITE SUBWAY TILES

Property features AI

Finance

• Other: Community includes a park
• HOA & community: Laurelton Gardens association; Association provides landscaping, live-in superintendent, maintenance (including grounds), park access, parking, and snow removal; Monthly association includes heat, hot water, sewer, and water; Additional monthly assessment of $80 through 12/31/2026

Exterior

• Parking: Garage; Off-street parking; On-street parking
• Utilities: Public sewer; Private trash collection
• Home design: Stock cooperative; One-level unit (listed as entry level 2); Two-story building; Located on the second floor
• Construction: Brick construction; Updated/remodeled
• Exterior features: Brick construction; Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stainless steel appliances; ENERGY STAR qualified appliances; Gas water heater
• Bedrooms: Second floor location
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Radiant heat; No cooling
• Interior features: Quartz/Quartzite counters; Recessed lighting; Updated/remodeled condition; No basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Cap rate 8.4% 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.
• 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: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $140k; list at $229k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-11,179
• Equity at exit: $34,145

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $23,759
• Equity at exit: $19,800

Cash invested: $64,120 (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 11422

• Active inventory: 109
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,518 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $407

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 79%

Sensitivity live

Price	-10% $565	-5% $486	+0% $407	+5% $327	+10% $248
Rent	-10% $208	-5% $307	+0% $407	+5% $506	+10% $605
Rate	-1.0pp $522	-0.5pp $465	base $407	+0.5pp $347	+1.0pp $287

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138-41 230th Pl Unit 2ND Jamaica, NY	1.0	1.0	592	$2,600	$4.39	26d	1	0.72mi
1003 Rottkamp St #1 Valley Stream, NY	1.0	1.0	550	$2,400	$4.36	3d	1	0.96mi

HOA detail condo

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

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-04-22
   listed $229,000 Active
3. 2020-02-11
   soldstatus $140,000 Closed 357-char remark

   Show marketing remark (357 chars)

   This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

4. 2020-02-04
   status Under Contract 357-char remark

   Show marketing remark (357 chars)

   This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

5. 2019-12-12
   status Back On Market 357-char remark

   Show marketing remark (357 chars)

   This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

6. 2019-05-24
   status Under Contract 357-char remark

   Show marketing remark (357 chars)

   This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

7. 2019-02-04
   listed $149,000 New 357-char remark

   Show marketing remark (357 chars)

   This detached, brick home is a co-op with one bedroom and one full bathroom, a living room, dining room and eat-in kitchen. Close to many restaurants and shopping areas. Walking distance to the Q5 bus, J train and a short walking distance to Laurelton Playground., Additional information: Business Located At:,Interior Features:Combo Kitchen,Rental Income:

ⓘ 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: $30,214
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$6,662
• Taxable income: $1,310
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $4,564/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
• City population: 7,731,280
• Population (ZIP): 33,085

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 9% Two or more races 7% White 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12%
• Foreign-born: 40% · Canada, Mexico, China
• Languages at home: 73% English-only · French/Haitian/Cajun 13% Spanish 8% Other Indo-European 1%

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: ▼ -394.74%
• Current HPI: 284.6464
• Rent YoY: —
• Metro: —
• 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

+53.7% since first listed

7 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-22 Listed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-11 Sold (MLS) $140,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-12-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2019-05-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-04 Listed $149,000 OneKey® MLS as Distributed by MLS Grid