226-26 Union Tpke Unit 2-O · New York, NY 11364

$319,000

2 bd · 1.0 ba · 1,058 sqft · Condo · 115 Days on market

Built 1955

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 2 Bedrooms, 1 bath Junior 4 residence in the sought after Cambridge Hall, where comfort and convenience come together effortlessly. This inviting unit layout offers a spacious and airy feel with gleaming hardwood floors, a bright kitchen perfect for everyday cooking, and a dedicated dining area ideal for intimate dinners or hosting friends. Both bedrooms are generously sized with excellent closet space to keep everything organized and within reach. The building enhances your lifestyle with private parking, on site laundry, basement storage, and even a refreshing outdoor pool for relaxing summer days. Perfectly positioned near shopping, local cafes

Key facts

• Bright kitchen
• On-site laundry room
• Storage space

Tags

• HARDWOOD FLOORS
• BRIGHT KITCHEN
• PRIVATE PARKING
• ON-SITE LAUNDRY ROOM
• STORAGE SPACE
• CLOSE TO SHOPPING

Property features AI

Finance

• HOA & community: Association: AKAM; Association amenities include maintenance, parking, and pool; Association fee covers common area and exterior maintenance, gas, heat, pool service, sewer, snow removal, trash, and water; Additional monthly assessment of $179.17

Exterior

• Parking: Garage; 1 parking space; No parking fee
• Utilities: Public sewer; Trash collection (public)
• Home design: Stock cooperative; 6 stories total; Entry level: 2
• Construction: Brick construction
• Exterior features: Outdoor pool; No waterfront

Interior

• Kitchen: Convection oven; Refrigerator
• Bedrooms: 5 total rooms (includes bedroom count within room total); Entry level is 2
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning units
• Interior features: Formal dining area; Pets allowed — contact association
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (2.5% below list).
• Recommended offer: $290k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+8.5%/yr); 248 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 ($98k/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 $10k 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 (-3.0% appreciation + 8.0% rent growth), your $89k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-19,201
• Equity at exit: $47,564

10-year hold

• IRR: 9.3%
• Equity multiple: 1.88×
• Total profit: $78,870
• Equity at exit: $27,581

Cash invested: $89,320 (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 11364

• Rents YoY: 8.5%
• Active inventory: 248
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,109 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $251

Break-even live

Break-even rent $2,791

Max offer price $319,000

Occupancy floor 87%

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	2d	1	0.71mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	4d	1	0.85mi
222-40 92nd Rd Unit 2nd Floor Jamaica, NY	2.0	1.0	1120	$3,400	$3.04	14d	1	0.93mi
61-11 219th St Unit 2 Flushing, NY	3.0	1.5	1200	$3,050	$2.54	14d	1	1.09mi
5775 Cloverdale Blvd Oakland Gardens, NY	3.0	2.0	1200	$4,200	$3.50	24d	1	1.12mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	24d	1	1.13mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	18d	1	1.16mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	24d	1	1.22mi
5847 215th St Bayside Hills, NY	3.0	2.0	1196	$4,860	$4.06	24d	1	1.24mi
220-13 Jamaica Ave Queens Village, NY	2.0	1.0	800	$2,400	$3.00	20d	1	1.28mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	24d	1	1.32mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $319,000 Active 115 DOM
2. 2026-06-17
   days on market $319,000 Active 114 DOM
3. 2026-06-15
   days on market $319,000 Active 112 DOM
4. 2026-06-13
   days on market $319,000 Active 110 DOM
5. 2026-06-10
   days on market $319,000 Active 106 DOM
6. 2026-06-08
   pricedays on market $319,000 Active 105 DOM
7. 2026-06-08
   days on market $340,000 Active 104 DOM
8. 2026-06-04
   days on market $340,000 Active 101 DOM
9. 2026-06-03
   days on market $340,000 Active 100 DOM
10. 2026-06-01
    days on market $340,000 Active 98 DOM
11. 2026-05-31
    days on market $340,000 Active 97 DOM
12. 2026-02-22
    listed $340,000 Active

ⓘ 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: $37,306
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,984
• − Management: −$2,984
• − Depreciation: −$9,280
• Taxable loss: −$2,192
• Est. tax savings @ 24.0%: +$526
• After-tax cash flow: $3,543/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): 35,276
• Household income: $98,359
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1288.0

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 0.64)
• Race & ethnicity: Asian 50% White 29% Hispanic / Latino 15% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 44% · China, South Korea, Canada
• Languages at home: 41% English-only · Chinese 30% Spanish 9% 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: ▼ -179.50%
• Current HPI: 242.5386
• Rent YoY: ▲ 8.47%
• 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

1 event — show timeline

• 2026-02-22 Listed $340,000 OneKey® MLS as Distributed by MLS Grid