138-36 68th Dr Unit 1B · New York, NY 11367

$279,000

1 bd · 1.0 ba · 655 sqft · Condo public records · 95 Days on market

Built 1950

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Why this score? — see what drove the D 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 +12.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

Key facts

• Built 1950
• Listed 94 days

Property features AI

Exterior

• Parking: No carport; Other parking features
• Utilities: Sewer: Other; Utilities: See remarks
• Home design: Stock cooperative; Entry level: 1
• Construction: Brick construction; Other construction materials
• Exterior features: Brick and other construction materials; Non-waterfront property; Other foundation details

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: 3 rooms total (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No central cooling; Other heating
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-46 ($-554/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (14.6% below list).
• Recommended offer: $238k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: 260 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 38% of the median local income ($75k/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 95 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,221 (14.6% 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 95 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.85% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 9.8

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-48,114
• Equity at exit: $41,600

10-year hold

• IRR: -9.5%
• Equity multiple: 0.42×
• Total profit: $-45,536
• 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 11367

• Active inventory: 260
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-46

Break-even live

Break-even rent $2,441

Max offer price $272,321

Occupancy floor 97%

Sensitivity live

Price	-10% $147	-5% $50	+0% $-46	+5% $-143	+10% $-239
Rent	-10% $-234	-5% $-140	+0% $-46	+5% $48	+10% $142
Rate	-1.0pp $94	-0.5pp $25	base $-46	+0.5pp $-118	+1.0pp $-192

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 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.61mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	6d	1	0.91mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	0.93mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	25d	1	0.97mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	7d	1	0.98mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	0.99mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	25d	1	0.99mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	1.10mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	1.10mi
163-07 72nd Ave Unit 2G Flushing, NY	1.0	1.0	402	$2,000	$4.98	25d	1	1.12mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	25d	1	1.12mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	20d	1	1.14mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	1.15mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	25d	1	1.16mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	415	$2,100	$5.06	0d	1	1.18mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	23d	1	1.18mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	25d	1	1.20mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	14d	1	1.20mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	20d	1	1.22mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	20d	1	1.23mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	20d	1	1.26mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	5d	1	1.27mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	25d	1	1.28mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	25d	1	1.33mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	1.36mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	15d	1	1.40mi
8455 Daniels St Unit 5H Jamaica, NY	1.0	1.0	750	$2,300	$3.07	20d	1	1.48mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	6d	1	1.49mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	4d	1	1.50mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-21
   days on market $279,000 Active 95 DOM
2. 2026-06-18
   days on market $279,000 Active 92 DOM
3. 2026-06-17
   days on market $279,000 Active 91 DOM
4. 2026-06-15
   days on market $279,000 Active 89 DOM
5. 2026-06-13
   days on market $279,000 Active 87 DOM
6. 2026-06-10
   days on market $279,000 Active 83 DOM
7. 2026-06-08
   days on market $279,000 Active 82 DOM
8. 2026-06-08
   days on market $279,000 Active 81 DOM
9. 2026-06-04
   days on market $279,000 Active 78 DOM
10. 2026-06-03
    days on market $279,000 Active 77 DOM
11. 2026-06-01
    days on market $279,000 Active 75 DOM
12. 2026-05-31
    days on market $279,000 Active 74 DOM
13. 2026-03-18
    listed $279,000 Active
14. 2020-11-18
    soldstatus $249,000 Closed 355-char remark

    Show marketing remark (357 chars)

    Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

15. 2020-11-18
    soldstatus $249,000 357-char remark

    Show marketing remark (357 chars)

    Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

16. 2020-10-15
    price $265,000 357-char remark

    Show marketing remark (357 chars)

    Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

17. 2020-04-24
    listed $265,000 Active 355-char remark

    Show marketing remark (357 chars)

    Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

18. 2020-04-24
    listed $249,000 357-char remark

    Show marketing remark (357 chars)

    Step inside this spacious garden view one-bedroom apartment conveniently located in the quiet neighborhood of Kew Garden Hills. Plenty of closets, hardwood floors throughout, separate dining space, storage & laundry facilities in complex. Close to public transportation, shopping, restaurants, all major highways, places of worship and Queens College.

ⓘ 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 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,587
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$8,116
• Taxable loss: −$5,312
• Est. tax savings @ 24.0%: +$1,275
• After-tax cash flow: $721/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• Rent YoY: —
• 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

+5.3% since first listed

6 events — show timeline

• 2026-03-18 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2020-11-18 Sold (MLS) $249,000 RLS at REBNY
• 2020-11-18 Sold (MLS) $249,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-15 Price Changed $265,000 RLS at REBNY
• 2020-04-24 Listed $249,000 RLS at REBNY
• 2020-04-24 Listed $265,000 OneKey® MLS as Distributed by MLS Grid