25-40 Union St Unit 3F · New York, NY 11354

$239,900

1 bd · 1.0 ba · 650 sqft · Condo · 83 Days on market

Built 1957 ↓ 3% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this beautifully maintained and freshly painted 1-bedroom co-op in the highly desirable Mitchell Gardens community—truly move-in ready, just pack your bags and settle in! This inviting home features a spacious, sun-filled living room, a well-appointed kitchen with abundant cabinetry, and a bright-sunny bedroom boasting two windows and generous double closets. The welcoming entry foyer offers a designated dining area along with an additional closet, providing exceptional storage throughout. Maintenance includes all utilities, offering both value and convenience. Residents enjoy an array of amenities, including on-site laundry, a fitness center, party rooms, storage units, a b

Key facts

• Fitness center
• Party rooms
• On-site laundry

Tags

• SUN-FILLED LIVING ROOM
• WELL-APPOINTED KITCHEN
• DESIGNATED DINING AREA
• ON-SITE LAUNDRY
• FITNESS CENTER
• PARTY ROOMS

Property features AI

Finance

• Other: Located in Queens County
• HOA & community: Association managed by First Service

Exterior

• Parking: Assigned parking
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Entry on 3rd floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/window air conditioning units
• Interior features: Elevator; Common laundry area; Cats allowed, no dogs
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-390 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 4.3% 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 (+2.8%/yr); 659 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,615/mo this rent would consume 48% of the median local household income ($66k/yr) (locally 4119% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 83 days — a 6% lower offer ($226k) 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

• Watch-outs: HOA is 31% of rent; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,506 (6.0% 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 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.09% ✓
• Cap rate: 4.34%
• Cash-on-cash: -6.96%
• DSCR: 0.69
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -28.4%
• Equity multiple: 0.05×
• Total profit: $-63,743
• Equity at exit: $35,770

10-year hold

• IRR: -27.9%
• Equity multiple: -0.31×
• Total profit: $-87,676
• Equity at exit: $20,742

Cash invested: $67,172 (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 11354

• Home prices YoY: -33.9%
• Rents YoY: 2.8%
• Active inventory: 659
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,615 high
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA est. from 1 same-building comp: −$798
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $-390

Break-even live

Break-even rent $3,109

Max offer price $183,507

Occupancy floor —

Sensitivity live

Price	-10% $-224	-5% $-307	+0% $-390	+5% $-473	+10% $-556
Rent	-10% $-596	-5% $-493	+0% $-390	+5% $-286	+10% $-183
Rate	-1.0pp $-269	-0.5pp $-329	base $-390	+0.5pp $-452	+1.0pp $-515

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	20d	1	0.37mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	9d	1	0.41mi
140-16 34th Ave Unit 412 Flushing, NY	—	1.0	600	$2,250	$3.75	7d	1	0.60mi
140-16 34th Ave Unit 308 Flushing, NY	—	1.0	600	$2,250	$3.75	25d	1	0.60mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	3d	1	0.61mi
3532 Leavitt St Unit 11I Flushing, NY	—	1.0	422	$2,900	$6.87	5d	1	0.75mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	16d	1	0.77mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	16d	1	0.77mi
3371 Prince St Unit 13L Flushing, NY	1.0	1.0	452	$2,800	$6.19	25d	1	0.77mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	13d	1	0.77mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	25d	1	0.82mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	4d	2	0.83mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	3d	1	0.83mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	25d	1	0.83mi
149-35 Northern Blvd Unit 4Z Flushing, NY	—	1.0	500	$1,800	$3.60	20d	1	0.86mi
13675 37th Ave Unit 3H Flushing, NY	1.0	1.0	750	$3,500	$4.67	0d	1	0.87mi
25-05 124th St Fl 1 Flushing, NY	2.0	1.0	750	$2,300	$3.07	20d	1	0.91mi
20-22 College Point Blvd Unit 3B Flushing, NY	2.0	1.0	700	$2,600	$3.71	25d	1	1.08mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	20d	1	1.09mi
13336 37th Ave Unit 3K Flushing, NY	—	1.0	500	$3,200	$6.40	25d	1	1.09mi
13680 41st Ave Unit 7D Flushing, NY	—	1.0	428	$2,650	$6.19	5d	1	1.11mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	25d	1	1.12mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	16d	2	1.12mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	25d	1	1.14mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.30mi
4105 College Point Blvd Unit 5I Flushing, NY	2.0	2.0	600	$2,600	$4.33	5d	1	1.33mi
14065 Beech Ave Unit 6J Flushing, NY	—	1.0	366	$2,000	$5.46	7d	1	1.37mi
13105 40th Rd Flushing, NY	2.0	1.0–2.0	762	$3,675	$4.82	4d	3	1.41mi
13105 40th Rd Flushing, NY	1.0	1.0	626	$3,350	$5.35	20d	3	1.41mi
132-30 Sanford Ave Unit 4Af Queens, NY	1.0	1.0	470	$2,300	$4.89	25d	1	1.41mi
13203 Sanford Ave Unit 7E Flushing, NY	2.0	2.0	702	$2,800	$3.99	25d	1	1.41mi
13434 Franklin Ave Unit 4E Flushing, NY	1.0	1.0	477	$2,800	$5.87	2d	1	1.48mi
13239 Pople Ave Unit 6D Flushing, NY	1.0	1.0	750	$2,500	$3.33	5d	1	1.49mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-21
   days on market $239,900 Active 83 DOM
2. 2026-06-18
   days on market $239,900 Active 80 DOM
3. 2026-06-17
   days on market $239,900 Active 79 DOM
4. 2026-06-15
   days on market $239,900 Active 77 DOM
5. 2026-06-13
   days on market $239,900 Active 75 DOM
6. 2026-06-10
   days on market $239,900 Active 71 DOM
7. 2026-06-08
   days on market $239,900 Active 70 DOM
8. 2026-06-08
   days on market $239,900 Active 69 DOM
9. 2026-06-04
   days on market $239,900 Active 66 DOM
10. 2026-06-03
    days on market $239,900 Active 65 DOM
11. 2026-06-01
    days on market $239,900 Active 63 DOM
12. 2026-05-31
    days on market $239,900 Active 62 DOM
13. 2026-05-14
    price $239,900
14. 2026-03-30
    listed $245,000 Active
15. 2025-11-28
    status Pending
16. 2025-11-28
    historical
17. 2025-08-18
    listed $247,000 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 ≥99°F today · 14 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: $31,385
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − HOA: −$9,576
• − Depreciation: −$6,979
• Taxable loss: −$8,428
• Est. tax savings @ 24.0%: +$2,023
• After-tax cash flow: $-2,654/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): 53,028
• Household income: $66,010
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 4119.0

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: Majority Asian (64%)
• Race & ethnicity: Asian 64% White 15% Hispanic / Latino 14% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 1% Italian 1%
• Foreign-born: 66% · China, Canada, South Korea
• Languages at home: 22% English-only · Chinese 43% Spanish 14% Korean 11%

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: ▼ -131.64%
• Current HPI: 257.0828
• Rent YoY: ▲ 2.78%
• 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

-2.9% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $239,900 OneKey® MLS as Distributed by MLS Grid
• 2026-03-30 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Listed $247,000 OneKey® MLS as Distributed by MLS Grid