67-46 223rd Pl Unit A · New York, NY 11364

$288,000

1 bd · 1.0 ba · 680 sqft · Condo · 53 Days on market

Built 1951

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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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av, Additional information: Interior Features:Lr/Dr

Key facts

• Landscaped grounds
• Walk-in closet
• First-floor co-op

Tags

• FIRST-FLOOR CO-OP
• RECENTLY RENOVATED KITCHEN
• WALK-IN CLOSET
• LANDSCAPED GROUNDS
• ON-SITE LAUNDRY
• TOP-RATED SCHOOL DISTRICT

Property features AI

Exterior

• Parking: No designated parking; No carport
• Utilities: Con-Edison electric service; Public sewer; Electricity connected; Natural gas connected; Water connected; Trash collection (public)
• Home design: Stock cooperative; Entry level: 1; Single-story unit
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas cooktop; Gas oven; Exhaust fan; Refrigerator; Stainless steel appliances
• Bedrooms: First-floor bedroom (included above)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: First-floor bedroom; One-level layout; No basement
• Laundry & utility: Utilities connected: electricity, natural gas, water, sewer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $288k.

Deal economics

• At list price, monthly cash flow is $-19 ($-225/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (13.3% below list).
• Recommended offer: $250k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+8.5%/yr); 249 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 30% 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 $9k 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 53 days — a 3% lower offer ($279k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $172k; list at $288k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $249,567 (13.3% 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 53 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — 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. 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: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.6

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: -11.3%
• Equity multiple: 0.57×
• Total profit: $-34,634
• Equity at exit: $42,942

10-year hold

• IRR: 4.0%
• Equity multiple: 1.35×
• Total profit: $28,487
• Equity at exit: $24,901

Cash invested: $80,640 (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: 249
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,496 medium
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,320/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $-19

Break-even live

Break-even rent $2,519

Max offer price $285,291

Occupancy floor 96%

Sensitivity live

Price	-10% $180	-5% $81	+0% $-19	+5% $-118	+10% $-218
Rent	-10% $-216	-5% $-117	+0% $-19	+5% $80	+10% $178
Rate	-1.0pp $126	-0.5pp $55	base $-19	+0.5pp $-93	+1.0pp $-169

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: $72,000
• Closing costs: $8,640
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5839 196th Pl Fresh Meadows, NY	2.0	1.0	750	$2,750	$3.67	26d	1	1.41mi
24120 Northern Blvd Unit 3K Little Neck, NY	—	1.0	500	$2,800	$5.60	17d	1	1.45mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	1.47mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-21
   days on market $288,000 Active 53 DOM
2. 2026-06-18
   days on market $288,000 Active 50 DOM
3. 2026-06-17
   days on market $288,000 Active 49 DOM
4. 2026-06-16
   days on market $288,000 Active 48 DOM
5. 2026-06-15
   days on market $288,000 Active 47 DOM
6. 2026-06-13
   days on market $288,000 Active 45 DOM
7. 2026-06-10
   days on market $288,000 Active 41 DOM
8. 2026-06-08
   days on market $288,000 Active 40 DOM
9. 2026-06-08
   days on market $288,000 Active 39 DOM
10. 2026-06-04
    days on market $288,000 Active 36 DOM
11. 2026-06-03
    days on market $288,000 Active 35 DOM
12. 2026-06-01
    days on market $288,000 Active 33 DOM
13. 2026-05-31
    days on market $288,000 Active 32 DOM
14. 2026-04-29
    listed $288,000 Active
15. 2016-10-11
    soldstatus $172,000 424-char remark

    Show marketing remark (370 chars)

    Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av

16. 2016-10-11
    soldstatus $172,000 Closed 370-char remark

    Show marketing remark (370 chars)

    Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av

17. 2016-09-21
    status Under Contract 370-char remark

    Show marketing remark (370 chars)

    Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av

18. 2016-06-14
    listed $191,000 New 370-char remark

    Show marketing remark (370 chars)

    Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av

19. 2016-06-12
    listed $191,000 424-char remark

    Show marketing remark (424 chars)

    Gorgeous First Floor Unit That Is Move-In Ready In The Heart Of Oakland Gardens. One Bedroom Co-Op With An Updated Kitchen, Hardwood Floors, Full Bath, With Great Closets. Beautiful Bay Window With Recessed Lighting. Located In A Sunny Courtyard. Close To All Public Transportation. Minutes Away From Q27 Bus. 5 Minutes To Cardozo Hs And Queensborough College Parking Av, Additional information: 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,948
• − Mortgage interest: −$16,132
• − Property taxes: −$4,320
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$8,378
• Taxable loss: −$5,114
• Est. tax savings @ 24.0%: +$1,227
• After-tax cash flow: $1,003/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

+50.8% since first listed

6 events — show timeline

• 2026-04-29 Listed $288,000 OneKey® MLS as Distributed by MLS Grid
• 2016-10-11 Sold (MLS) $172,000 OneKey® MLS as Distributed by MLS Grid
• 2016-10-11 Sold (MLS) $172,000 MLSLI
• 2016-09-21 Pending — MLSLI
• 2016-06-14 Listed $191,000 MLSLI
• 2016-06-12 Listed $191,000 OneKey® MLS as Distributed by MLS Grid