88-08 151st Ave Unit 1B · New York, NY 11414

$240,000

2 bd · 1.0 ba · 903 sqft · Condo · 113 Days on market

Built 1962 ↓ 4% since listing

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• 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

Welcome to The Barclay, a desirable co-op community in Lindenwood Village. This spacious 2 bedroom 1 bath residence offers comfort, functionality & a prime location close to shopping, public transportation, inc. express buses to Manhattan. The oversized primary bedroom easily accommodates a king size bed, while the second bedroom is ideal as a guest room or home office. The galley kitchen features granite countertops & ample cabinet storage. The dining room flows seamlessly into a large, sun filled living room, perfect for relaxing or entertaining. The bathroom has been updated. There are numerous closets throughout the apartment. Amenities include a camera intercom system, on s

Key facts

• On site laundry
• Granite countertops
• Updated bathroom

Tags

• GRANITE COUNTERTOPS
• AMPLE CABINET STORAGE
• SUN FILLED LIVING ROOM
• UPDATED BATHROOM
• CAMERA INTERCOM SYSTEM
• ON SITE LAUNDRY

Property features AI

Finance

• Financial info: Not specified
• HOA & community: Building has an association; Building amenities include elevator(s) and a playground

Exterior

• Parking: Assigned parking in lot; One parking space; Monthly parking fee of $35
• Security: Not specified
• Utilities: Electricity connected; Public sewer; Public water connected; Trash collection (public)
• Home design: Stock cooperative; Located on the first floor; Six-story building
• Construction: Brick construction; Basement with storage space
• Exterior features: Playground on site

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Bedrooms: First-floor bedroom
• Flooring: Not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/window air conditioning unit(s)
• Interior features: Ceiling fan(s); Chandelier; Elevator access; Galley-style kitchen; Granite counters; Recessed lighting; First-floor bedroom; Storage space in basement
• Laundry & utility: Dedicated laundry room

🏢 Co-op / cooperative unit. The $240,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 258 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 36% of the median local income ($95k/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 $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

• It's been on market 113 days — a 9% lower offer ($218k) 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 flood risk; major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1962 — 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: 1.17% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 7.1

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-2,933
• Equity at exit: $35,785

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $43,864
• Equity at exit: $20,751

Cash invested: $67,200 (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 11414

• Active inventory: 258
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,813 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $564

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 75%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8439 153rd Ave Unit 5A Howard Beach, NY	1.0	1.0	800	$2,500	$3.12	24d	1	0.10mi
84-29 155th Ave Unit 5J Queens, NY	1.0	1.0	800	$2,500	$3.12	24d	1	0.20mi
149-09 84th St Unit 2 Howard Beach, NY	3.0	1.5	750	$3,200	$4.27	24d	1	0.21mi
9105 107th Ave Ozone Park, NY	1.0	1.0	648	$2,400	$3.70	18d	1	0.73mi
9512 108th Ave Ozone Park, NY	2.0	1.0	1000	$2,800	$2.80	11d	1	0.74mi
10215 Dunton Ct Howard Beach, NY	3.0	2.0	1100	$3,500	$3.18	24d	1	1.31mi
97-56 105th St #2 Ozone Park, NY	3.0	2.0	1000	$3,811	$3.81	24d	1	1.37mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   statusdays on market $240,000 Pending 113 DOM
2. 2026-06-17
   days on market $240,000 Active 112 DOM
3. 2026-06-15
   days on market $240,000 Active 110 DOM
4. 2026-06-13
   days on market $240,000 Active 108 DOM
5. 2026-06-10
   days on market $240,000 Active 104 DOM
6. 2026-06-08
   days on market $240,000 Active 103 DOM
7. 2026-06-08
   days on market $240,000 Active 102 DOM
8. 2026-06-04
   days on market $240,000 Active 99 DOM
9. 2026-06-03
   days on market $240,000 Active 98 DOM
10. 2026-06-01
    days on market $240,000 Active 96 DOM
11. 2026-05-31
    statusdays on market $240,000 Active 95 DOM
12. 2026-04-24
    status Pending
13. 2026-03-26
    status Active
14. 2026-02-02
    price $240,000
15. 2026-01-07
    listed $250,000 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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $33,759
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,701
• − Management: −$2,701
• − Depreciation: −$6,982
• Taxable income: $3,132
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $6,015/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): 31,308
• Household income: $95,051
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 985.0

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 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 11% Dominican 6%
• Common ancestry: Romanian 4% Scotch-Irish 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 63% English-only · Spanish 17% Other Indo-European 14% Russian/Polish/Slavic 2%

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: ▼ -227.02%
• Current HPI: 206.6334
• 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

-4.0% since first listed

4 events — show timeline

• 2026-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Listed $250,000 OneKey® MLS as Distributed by MLS Grid