26910 Grand Central Pkwy Unit 10J · New York, NY 11005

$279,000

1 bd · 1.0 ba · 687 sqft · Condo · 271 Days on market

Built 1975

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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
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks MLS

call office to show.

Key facts

• Outfitted closets
• Custom lighting
• Wood parquet floors

Tags

• UPDATED FULLY EQUIPPED KITCHEN
• OUTFITTED CLOSETS
• WOOD PARQUET FLOORS
• CUSTOM LIGHTING

Property features AI

Finance

• Other: Living area reported from plans
• HOA & community: Association: AKAM; Additional monthly fee of $176 covering TCC, Spectrum, and metered electric

Exterior

• Parking: 1 parking space (fee applies); 1 garage space
• Utilities: Electricity available (other electric company); Natural gas available; Water available; Sewer available; Cable available; Phone available
• Home design: Stock cooperative; Entry level: 10; Total stories: 33
• Construction: Aluminum siding and brick construction
• Exterior features: Aluminum siding; Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: Includes a first floor bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: First floor bedroom; First floor full bathroom; No basement; 4 total rooms
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (21.1% below list).
• Recommended offer: $220k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 0.2% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 82 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $235k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 56% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (21.1% 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 271 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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: 0.79% ✗
• Cap rate: 0.22%
• Cash-on-cash: -21.71%
• DSCR: 0.03
• GRM: 10.6

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: -12.2%
• Equity multiple: 0.29×
• Total profit: $-55,607
• Equity at exit: $125,450

10-year hold

• IRR: -5.6%
• Equity multiple: 0.09×
• Total profit: $-70,701
• Equity at exit: $193,334

Cash invested: $78,120 (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 11005

• Active inventory: 82
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA est. from 2 same-building comps: −$1,223
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-1,413

Break-even live

Break-even rent $3,989

Max offer price $74,521

Occupancy floor —

Sensitivity live

Price	-10% $-1,220	-5% $-1,317	+0% $-1,413	+5% $-1,510	+10% $-1,606
Rent	-10% $-1,587	-5% $-1,500	+0% $-1,413	+5% $-1,326	+10% $-1,239
Rate	-1.0pp $-1,273	-0.5pp $-1,342	base $-1,413	+0.5pp $-1,485	+1.0pp $-1,559

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260-51 73rd Ave Queens, NY	1.0	1.0	518	$2,200	$4.25	6d	1	0.37mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	1.16mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-21
   days on market $279,000 Active 271 DOM
2. 2026-06-18
   days on market $279,000 Active 268 DOM
3. 2026-06-17
   days on market $279,000 Active 267 DOM
4. 2026-06-15
   days on market $279,000 Active 265 DOM
5. 2026-06-13
   days on market $279,000 Active 263 DOM
6. 2026-06-10
   days on market $279,000 Active 259 DOM
7. 2026-06-08
   days on market $279,000 Active 258 DOM
8. 2026-06-03
   days on market $279,000 Active 253 DOM
9. 2026-06-01
   days on market $279,000 Active 251 DOM
10. 2026-05-31
    days on market $279,000 Active 250 DOM
11. 2026-05-05
    price $279,000
12. 2025-09-23
    listed $299,000 Active
13. 2024-12-17
    listed $225,000 20-char remark

    Show marketing remark (20 chars)

    call office to show.

14. 2024-10-31
    soldstatus $235,000 20-char remark

    Show marketing remark (20 chars)

    call office to show.

15. 2024-07-31
    historical
16. 2024-02-05
    price $250,000
17. 2023-10-07
    price $259,000
18. 2023-04-10
    listed $269,000 Active
19. 2022-04-10
    historical
20. 2022-03-28
    status Active
21. 2022-03-27
    historical
22. 2022-01-16
    price $245,999
23. 2021-10-24
    listed $274,999 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 2/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥97°F today · 12 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: $26,400
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − HOA: −$14,676
• − Depreciation: −$8,116
• Taxable loss: −$21,825
• Est. tax savings @ 24.0%: +$5,238
• After-tax cash flow: $-11,719/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
• City population: 7,731,280
• Population (ZIP): 2,195

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: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 3% Native American 1%
• Common ancestry: Scotch-Irish 23% Romanian 11% Italian 7%
• Foreign-born: 11% · Canada, Jamaica, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% German/W. Germanic 3% Chinese 1%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+1.5% since first listed

13 events — show timeline

• 2026-05-05 Price Changed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-17 Listed $225,000 RLS at REBNY
• 2024-10-31 Sold (MLS) $235,000 RLS at REBNY
• 2024-07-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-02-05 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-07 Price Changed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-10 Listed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2022-04-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-03-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-03-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-01-16 Price Changed $245,999 OneKey® MLS as Distributed by MLS Grid
• 2021-10-24 Listed $274,999 OneKey® MLS as Distributed by MLS Grid