40-01 Little Neck Parkway Unit 11-B · New York, NY 11363

$335,000

1 bd · 1.0 ba · 900 sqft · Condo · 29 Days on market

Built 1950

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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
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Cash flow +3.4/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly Updated Bright & Spacious Garden Apartment in peaceful setting. Just renovated with brand new Eat In Kitchen w/ Quartz Countertops, Bathroom, Wood Floors, and New Electric Panel & Wiring throughout unit. An oversized living room with vaulted ceilings & skylights bathe the unit in light with Double-Door Balcony. Pet Friendly Community with an On Site Superintendent. Close proximity to shops & LIRR. Not to be missed!!

Key facts

• Hardwood flooring
• Eat-in-kitchen
• Private terrace

Tags

• EAT-IN-KITCHEN
• PRIVATE TERRACE
• CATHEDRAL CEILINGS
• SKYLIGHTS
• HARDWOOD FLOORING
• ATTIC WITH PULL-DOWN STAIRS

Property features AI

Finance

• Other: Living area reported from public records
• HOA & community: Association covers exterior maintenance, hot water, sewer, snow removal, trash and water

Exterior

• Parking: Off-street parking available; On-street parking available; No carport
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative
• Construction: Brick construction; Other foundation details
• Exterior features: Brick and other construction materials; Not waterfront

Interior

• Kitchen: Dishwasher; Gas Range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: 4 rooms total (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning unit(s)
• Interior features: Other interior features; Full attic with pull-down stairs; Entry level: 2
• Laundry & utility: Pets allowed (contact for details)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $335k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (14.8% below list).
• Recommended offer: $286k (14.8% 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: 47 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $270k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent; 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 $285,518 (14.8% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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. 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?
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: 0.85% ✗
• Cap rate: 2.61%
• Cash-on-cash: -13.15%
• DSCR: 0.42
• 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: -40.5%
• Equity multiple: -0.27×
• Total profit: $-119,090
• Equity at exit: $49,950

10-year hold

• IRR: -63.0%
• Equity multiple: -0.98×
• Total profit: $-185,378
• Equity at exit: $28,965

Cash invested: $93,800 (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 11363

• Home prices YoY: -23.3%
• Active inventory: 47
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,855 high
• Mortgage (P&I): −$1,757
• Tax est. 1.5%: −$419 /mo · $5,025/yr
• Insurance: −$140
• HOA est. from 1 same-building comp: −$968
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $-1,028

Break-even live

Break-even rent $4,156

Max offer price $186,317

Occupancy floor —

Sensitivity live

Price	-10% $-796	-5% $-912	+0% $-1,028	+5% $-1,143	+10% $-1,259
Rent	-10% $-1,253	-5% $-1,140	+0% $-1,028	+5% $-915	+10% $-802
Rate	-1.0pp $-859	-0.5pp $-942	base $-1,028	+0.5pp $-1,114	+1.0pp $-1,203

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4212 Marathon Pkwy Little Neck, NY	1.0	1.0	550	$2,375	$4.32	25d	1	0.20mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	19d	1	0.49mi
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,100	$3.44	5d	1	0.55mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	25d	1	0.88mi
141 Great Neck Rd Unit 2G Great Neck, NY	2.0	1.5	1000	$4,250	$4.25	3d	1	0.96mi
50 Knightsbridge Rd Unit 2B Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	5d	1	0.99mi
60 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,550	$4.18	5d	1	1.00mi
70 Knightsbridge Rd Unit 3F Great Neck Plaza, NY	2.0	1.0	850	$3,450	$4.06	44d	1	1.00mi
7 Bond St Unit 3J Great Neck, NY	1.0	1.0	650	$2,800	$4.31	20d	1	1.27mi
11 Schenck Ave Unit 2D Great Neck Plaza, NY	1.0	1.0	750	$2,200	$2.93	44d	1	1.30mi
4 Maple Dr Apt 6H Great Neck, NY	1.0	1.0	900	$2,300	$2.56	44d	1	1.31mi
17 Schenck Ave Unit 3B Great Neck Plaza, NY	1.0	1.0	700	$2,295	$3.28	14d	1	1.33mi
12 Welwyn Rd Unit 2P Great Neck Plaza, NY	2.0	1.0	795	$2,735	$3.44	45d	1	1.42mi
16 Stoner Ave Unit 2G Great Neck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	1.44mi

HOA detail condo

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

Listing history 8 events

1. 2026-04-21
   status Pending
2. 2026-03-23
   listed $335,000 Active
3. 2021-03-17
   soldstatus $270,000 Closed 441-char remark

   Show marketing remark (441 chars)

   Newly Updated Bright & Spacious Garden Apartment in peaceful setting. Just renovated with brand new Eat In Kitchen w/ Quartz Countertops, Bathroom, Wood Floors, and New Electric Panel & Wiring throughout unit. An oversized living room with vaulted ceilings & skylights bathe the unit in light with Double-Door Balcony. Pet Friendly Community with an On Site Superintendent. Close proximity to shops & LIRR. Not to be missed!!

4. 2020-10-28
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Newly Updated Bright & Spacious Garden Apartment in peaceful setting. Just renovated with brand new Eat In Kitchen w/ Quartz Countertops, Bathroom, Wood Floors, and New Electric Panel & Wiring throughout unit. An oversized living room with vaulted ceilings & skylights bathe the unit in light with Double-Door Balcony. Pet Friendly Community with an On Site Superintendent. Close proximity to shops & LIRR. Not to be missed!!

5. 2020-09-24
   listed $258,000 Active 441-char remark

   Show marketing remark (441 chars)

   Newly Updated Bright & Spacious Garden Apartment in peaceful setting. Just renovated with brand new Eat In Kitchen w/ Quartz Countertops, Bathroom, Wood Floors, and New Electric Panel & Wiring throughout unit. An oversized living room with vaulted ceilings & skylights bathe the unit in light with Double-Door Balcony. Pet Friendly Community with an On Site Superintendent. Close proximity to shops & LIRR. Not to be missed!!

6. 2017-11-17
   soldstatus $192,000 Closed 446-char remark

   Show marketing remark (446 chars)

   Bright & Spacious, Upper-Level 1 Bedroom Apt. W/Large Double-Door Balcony In A Park-Like Setting With A Great View. High Ceilings W/Skylights In The Living Room. Ample Closets With Additional Storage Space In Pull-Down Attic. Eat-In-Kitchen With Stainless-Steel Appliances Including Dishwasher. Pet-Friendly Community In A Great Location With An On-Site Superintendent., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

7. 2017-08-09
   status Under Contract 446-char remark

   Show marketing remark (446 chars)

   Bright & Spacious, Upper-Level 1 Bedroom Apt. W/Large Double-Door Balcony In A Park-Like Setting With A Great View. High Ceilings W/Skylights In The Living Room. Ample Closets With Additional Storage Space In Pull-Down Attic. Eat-In-Kitchen With Stainless-Steel Appliances Including Dishwasher. Pet-Friendly Community In A Great Location With An On-Site Superintendent., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

8. 2017-07-06
   listed $215,000 New 446-char remark

   Show marketing remark (446 chars)

   Bright & Spacious, Upper-Level 1 Bedroom Apt. W/Large Double-Door Balcony In A Park-Like Setting With A Great View. High Ceilings W/Skylights In The Living Room. Ample Closets With Additional Storage Space In Pull-Down Attic. Eat-In-Kitchen With Stainless-Steel Appliances Including Dishwasher. Pet-Friendly Community In A Great Location With An On-Site Superintendent., Additional information: Appearance:Excellent,Interior Features:Lr/Dr

ⓘ 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 ≥97°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,262
• − Mortgage interest: −$18,765
• − Property taxes: −$5,025
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,741
• − Management: −$2,741
• − HOA: −$11,616
• − Depreciation: −$9,745
• Taxable loss: −$18,046
• Est. tax savings @ 24.0%: +$4,331
• After-tax cash flow: $-7,999/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): 7,223
• Household income: $125,015
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 262.0

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 0.61)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 12% Native American 1%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1% Dominican 2%
• Common ancestry: Romanian 4% Italian 3% Scotch-Irish 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 56% English-only · Chinese 15% Spanish 10% Other Indo-European 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: ▼ -71.14%
• Current HPI: 234.1655
• 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

+55.8% since first listed

8 events — show timeline

• 2026-04-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $335,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-17 Sold (MLS) $270,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-09-24 Listed $258,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-17 Sold (MLS) $192,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-07-06 Listed $215,000 OneKey® MLS as Distributed by MLS Grid