18-35 Corporal Kennedy St Unit 5C · New York, NY 11360

$319,999

2 bd · 1.0 ba · 950 sqft · Condo · 404 Days on market

Built 1960 ↓ 3% since listing

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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 +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.7/30.0
• DSCR +0.0/10.0

Listing remarks

Welcome home to this spacious C-line unit at Bayside's Kennedy Quad! Drenched in sunlight, this apartment boasts a large living room and foyer area that can easily accommodate an expansive living room furniture set, while simultaneously affording space for a dining room table or a home office set-up. The kitchen was just renovated and features white shaker cabinets, granite countertops and stainless steel appliances. In addition, the floors were just refinished and the entire apartment has been freshly painted. Myriad closet space throughout makes this unit ideal for all of your home storage needs. Most importantly, an indoor garage parking spot (for an extra $80 per month) will be include

Key facts

• Large living room
• Myriad closet space
• Updated kitchen

Tags

• LARGE LIVING ROOM
• UPDATED KITCHEN
• UPDATED BATHROOM
• MYRIAD CLOSET SPACE
• GARAGE PARKING SPOT
• ZONED FOR DISTRICT 26 SCHOOLS

Property features AI

Finance

• HOA & community: Parking fee: $80

Exterior

• Parking: 1 parking space (parking fee applies); 1 garage space
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Additional heating (other); Central air conditioning
• Interior features: Other interior features; No pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (9.4% below list).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 1.2% 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.
• Market conditions: 219 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 35% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $10k appreciation (3.3% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 404 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 3 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 50% of rent.
• 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 $281,599 (12.0% 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 404 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — 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: 0.91% ✗
• Cap rate: 1.20%
• Cash-on-cash: -18.19%
• DSCR: 0.19
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.52×
• Total profit: $-42,613
• Equity at exit: $148,584

10-year hold

• IRR: -2.4%
• Equity multiple: 0.61×
• Total profit: $-34,557
• Equity at exit: $232,707

Cash invested: $89,600 (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 11360

• Home prices YoY: 1.6%
• Active inventory: 219
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,900 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA est. from 1 same-building comp: −$1,438
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-1,358

Break-even live

Break-even rent $4,620

Max offer price $123,464

Occupancy floor —

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bay Club Dr Unit 21W Bayside, NY	1.0	1.0	762	$3,100	$4.07	12d	1	0.24mi
2 Bay Club Dr Bayside, NY	1.0	1.0	780	$4,000	$5.13	24d	1	0.26mi
23-45 Corporal Kennedy St Unit 1 Flushing, NY	1.0	1.0	1000	$2,800	$2.80	24d	1	0.27mi
20933 26th Ave Unit 1C Bayside, NY	1.0	1.5	800	$3,000	$3.75	24d	1	0.28mi
209-21 26th Ave Unit TB Bayside, NY	1.0	1.0	955	$2,850	$2.98	19d	1	0.29mi
1816 Bell Blvd Bayside, NY	1.0	1.0	1000	$2,500	$2.50	24d	1	0.38mi
1670 Bell Blvd Bayside, NY	2.0	1.0–1.5	600	$3,100	$5.17	2d	4	0.41mi
16-05 Bell Blvd Unit 1st Floor Flushing, NY	1.0	1.0	700	$2,400	$3.43	24d	1	0.42mi
206-14 Emily Rd Unit 42L Bayside, NY	1.0	1.0	700	$2,700	$3.86	24d	1	0.53mi
1785 215th St Unit 15J Bayside, NY	1.0	1.0	620	$3,500	$5.65	24d	1	0.53mi
29-04 204th St Unit 1Floor Flushing, NY	1.0	1.0	700	$2,600	$3.71	19d	1	0.65mi
3321 Jordan St Flushing, NY	3.0	2.0	1080	$3,900	$3.61	24d	1	0.99mi
33-08 Francis Lewis Blvd Unit 2FL Queens, NY	3.0	1.0	1050	$3,050	$2.90	24d	1	1.04mi
1011 162nd St Whitestone, NY	1.0	1.0	880	$1,800	$2.05	19d	1	1.14mi
208-12 39th Ave Bayside, NY	3.0	1.0	950	$3,150	$3.32	8d	1	1.26mi
15719 26th Ave Flushing, NY	2.0	1.0	850	$2,850	$3.35	22d	1	1.26mi
36-26 192nd St #2 Flushing, NY	2.0	1.0	875	$3,000	$3.43	8d	1	1.29mi
194-20 39th Ave Unit A Flushing, NY	1.0	1.0	900	$2,250	$2.50	24d	1	1.32mi
41-20 210th St Unit 1 Flushing, NY	1.0	1.0	1030	$2,350	$2.28	24d	1	1.36mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	24d	1	1.37mi
40-11 214th Pl Unit 2R Bayside, NY	1.0	1.0	650	$2,800	$4.31	5d	1	1.39mi
1001 154th St Whitestone, NY	2.0	1.0	900	$3,300	$3.67	24d	1	1.45mi
168-10 Crocheron Ave Unit 1A Flushing, NY	1.0	1.0	750	$2,250	$3.00	19d	1	1.46mi
3620 168th St Flushing, NY	1.0	1.0	700	$2,350	$3.36	7d	2	1.48mi
16710 Crocheron Ave Unit 3L Flushing, NY	1.0	1.0	850	$2,350	$2.76	19d	1	1.48mi

HOA detail condo

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

Listing history 11 events

1. 2026-05-31
   statusdays on market $319,999 Pending 404 DOM
2. 2026-05-02
   price $319,999
3. 2026-03-03
   status Active
4. 2026-02-26
   historical
5. 2025-12-11
   price $349,999
6. 2025-10-19
   price $369,999
7. 2025-10-19
   price $369,000
8. 2025-10-14
   status Active
9. 2025-09-08
   price $369,999
10. 2025-05-05
    price $309,000
11. 2025-02-25
    listed $329,999 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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: $34,803
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − HOA: −$17,256
• − Depreciation: −$9,309
• Taxable loss: −$21,655
• Est. tax savings @ 24.0%: +$5,197
• After-tax cash flow: $-11,101/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): 19,469
• Household income: $98,875
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 496.0

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 0.60)
• Race & ethnicity: White 54% Asian 29% Hispanic / Latino 12% Two or more races 6% Black 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Estonian 1%
• Foreign-born: 33% · China, South Korea, Canada
• Languages at home: 58% English-only · Chinese 14% Other Indo-European 11% 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: ▲ 3.26%
• Current HPI: 204.1422
• 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

-3.0% since first listed

10 events — show timeline

• 2026-05-02 Price Changed $319,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $349,999 OneKey® MLS as Distributed by MLS Grid
• 2025-10-19 Price Changed $369,999 OneKey® MLS as Distributed by MLS Grid
• 2025-10-19 Price Changed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-08 Price Changed $369,999 OneKey® MLS as Distributed by MLS Grid
• 2025-05-05 Price Changed $309,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-25 Listed $329,999 OneKey® MLS as Distributed by MLS Grid