18-75 Corporal Kennedy St Unit 4A · New York, NY 11360

$315,000

3 bd · 2.0 ba · 1,500 sqft · Condo · 66 Days on market

Built 1961 Fair condition ↓ 25% since listing

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Welcome to this spectacular quad co-op residence on Kennedy Street in the heart of Bayside—a rare opportunity to own a spacious and well-laid-out home in one of Queens’ most desirable neighborhoods. This grand fourth-floor unit features a generous six-room layout highlighted by a formal living and dining room combination, complete with beautiful hardwood floors and an inviting atmosphere ideal for both everyday living and entertaining. The spacious galley kitchen offers excellent functionality with durable tile flooring and ample potential for customization. The residence boasts a majestic primary bedroom, along with two additional well-proportioned bedrooms, providing flexibili

Key facts

• Galley kitchen
• Landscaped grounds
• Six-room layout

Tags

• FOURTH-FLOOR UNIT
• SIX-ROOM LAYOUT
• FORMAL LIVING AND DINING ROOM
• GALLEY KITCHEN
• TWO FULL BATHROOMS
• LANDSCAPED GROUNDS

Property features AI

Finance

• HOA & community: Has association (Kennedy Street Quad); Association fees cover common area maintenance, exterior maintenance, gas, grounds care, heat, hot water, sewer, trash and water

Exterior

• Parking: Assigned, common, underground parking available; Parking fee applies
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Condition: fixer; 6-story building; One-level unit; Unit entry level: 4th
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Cooktop; Oven
• Bedrooms: Unit located on 4th entry level (within a 6-story building)
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; Wall/window air conditioning units
• Interior features: Galley-style kitchen; Original details
• Laundry & utility: Common area laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $315k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $296k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: 219 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 44% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($296k) 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

• 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 $296,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1961 — 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. 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: 1.16% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.99×
• Total profit: $87,522
• Equity at exit: $146,263

10-year hold

• IRR: 18.5%
• Equity multiple: 3.76×
• Total profit: $243,053
• Equity at exit: $229,072

Cash invested: $88,200 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,653 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$767
• Net cashflow: $709

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 76%

Sensitivity live

Price	-10% $927	-5% $818	+0% $709	+5% $600	+10% $492
Rent	-10% $421	-5% $565	+0% $709	+5% $854	+10% $998
Rate	-1.0pp $868	-0.5pp $789	base $709	+0.5pp $628	+1.0pp $545

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15-47 209th St #2 Flushing, NY	3.0	2.0	1250	$3,800	$3.04	25d	1	0.39mi
14-21 Bell Blvd Unit 2 Flushing, NY	3.0	2.0	1250	$3,600	$2.88	16d	1	0.61mi
27-30 Francis Lewis Blvd Unit 2nd FLOOR Flushing, NY	4.0	1.0	1100	$3,150	$2.86	13d	1	0.80mi
16606 Willets Point Blvd Whitestone, NY	2.0	1.0	2127	$2,975	$1.40	0d	1	0.81mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	25d	1	0.87mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	25d	1	0.93mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	3d	1	1.23mi
207-07 42nd Ave Unit 2 Flushing, NY	2.0	2.0	1395	$3,900	$2.80	3d	1	1.24mi
4032 191st St Flushing, NY	3.0	1.0	1500	$2,700	$1.80	25d	1	1.37mi
42-04 216th St Unit 2 Bayside, NY	3.0	2.0	1250	$3,200	$2.56	19d	1	1.40mi
15425 13th Ave Whitestone, NY	3.0	2.5	1620	$6,000	$3.70	25d	1	1.46mi
15167 27th Ave Flushing, NY	3.0	1.5	1146	$3,800	$3.32	22d	1	1.50mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-18
   days on market $315,000 Active 66 DOM
2. 2026-06-17
   days on market $315,000 Active 65 DOM
3. 2026-06-15
   days on market $315,000 Active 63 DOM
4. 2026-06-13
   days on market $315,000 Active 61 DOM
5. 2026-06-10
   days on market $315,000 Active 57 DOM
6. 2026-06-08
   days on market $315,000 Active 56 DOM
7. 2026-06-08
   days on market $315,000 Active 55 DOM
8. 2026-06-04
   days on market $315,000 Active 52 DOM
9. 2026-06-03
   days on market $315,000 Active 51 DOM
10. 2026-06-01
    days on market $315,000 Active 49 DOM
11. 2026-05-31
    days on market $315,000 Active 48 DOM
12. 2026-04-12
    historical
13. 2026-04-11
    listed $315,000 Active
14. 2026-01-23
    price $315,000
15. 2025-12-18
    price $330,000
16. 2025-11-14
    price $340,000
17. 2025-10-20
    price $360,000
18. 2025-09-18
    price $380,000
19. 2025-08-18
    price $400,000
20. 2025-07-14
    listed $420,000 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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: $43,840
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,507
• − Management: −$3,507
• − Depreciation: −$9,164
• Taxable income: $3,717
• Est. tax owed @ 24.0%: −$892
• After-tax cash flow: $7,619/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

Fair 45/100 Moderate rehab

This quad co-op residence requires moderate renovations to its kitchen and bathroom, as well as exterior repairs. A comprehensive renovation would significantly increase its value for both resale and rental purposes.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major kitchen countertops — severely worn and outdated
• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Major bathroom tiles — dated and worn

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
• Both bathroom renovation — modernizing the bathroom would significantly increase both resale and rental value
• Both exterior landscaping — improving the exterior would enhance curb appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
kitchen countertops · severely worn and outdated	Major	$15,000–50,000
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
bathroom tiles · dated and worn	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathroom would significantly increase both resale and rental value ↑
• Both exterior landscaping — improving the exterior would enhance curb appeal and increase both resale and rental value ↑

ⓘ 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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% Korean 8%

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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-25.0% since first listed

9 events — show timeline

• 2026-04-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-11 Listed $315,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $315,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $330,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $340,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $360,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-18 Price Changed $380,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Price Changed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Listed $420,000 OneKey® MLS as Distributed by MLS Grid