6809 138th St Unit 2C · New York, NY 11367

$245,000

1 bd · 1.0 ba · 725 sqft · Condo · 142 Days on market

Built 1949 ↓ 7% 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).

• Cash flow +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to Sell! Bright One-Bedroom Garden-Style Co-op in Prime South Flushing - Cash Purchases Now Accepted! Discover an exceptional opportunity in a well -maintained garden cooperative community just steps from public transportation, shopping, dining. This charming one-bedroom , one-bath home boasts inviting southern exposure, filling the living space with natural light and creating a warm, welcoming ambiance. The functional layout features a spacious living room, dining room, a generously sized bedroom, an updated kitchen and bathroom. Walk to nearby bus lines (including routed to the 7, E, F and M trains), restaurants, grocery stores, parks, and all that vibrant has to offer. Don't miss

Key facts

• Updated kitchen
• Nearby bus lines
• Updated bathroom

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• SPACIOUS LIVING ROOM
• PUBLIC TRANSPORTATION
• NEARBY BUS LINES
• RESTAURANTS

Property features AI

Finance

• Other: Living area reported as 725 sq ft (source: Other)
• HOA & community: Association fees include gas, hot water, sewer and water

Exterior

• Parking: 1-car garage; 1-space carport; No additional parking features listed
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; Multi/split levels; Entry on level 2
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Freezer; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2nd level entry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Radiant heating; Other heating; No cooling
• Interior features: Eat-in kitchen; Other interior features
• Laundry & utility: No pets allowed

🏢 Co-op / cooperative unit. The $245,000 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 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (1.6% below list).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 259 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 39% of the median local income ($75k/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 142 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.5

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-26,238
• Equity at exit: $36,530

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-5,412
• Equity at exit: $21,183

Cash invested: $68,600 (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 11367

• Active inventory: 259
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,410 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $211

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 86%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150-25 72nd Rd Flushing, NY	1.0	1.0	700	$2,300	$3.29	24d	1	0.66mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	4d	1	0.86mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	24d	1	0.95mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	13d	1	0.96mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	24d	1	0.96mi
7837 Main St Unit 2G Queens, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.00mi
7835 147th St Unit 2E Flushing, NY	1.0	1.0	700	$2,200	$3.14	6d	1	1.01mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	4d	2	1.06mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	11d	1	1.06mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	18d	1	1.08mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	24d	1	1.10mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	24d	1	1.11mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	24d	1	1.15mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	19d	1	1.17mi
163-07 72nd Ave Unit 2G Flushing, NY	1.0	1.0	402	$2,000	$4.98	24d	1	1.17mi
163-07 72nd Ave Unit 3G Flushing, NY	2.0	2.0	716	$2,900	$4.05	24d	1	1.17mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	18d	1	1.18mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	18d	1	1.21mi
15038 Union Tpke Unit 8L Flushing, NY	—	1.0	489	$2,100	$4.29	22d	1	1.22mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	4d	1	1.22mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	24d	1	1.22mi
152-18 Union Tpke Unit 8S Queens, NY	—	1.0	496	$1,950	$3.93	13d	1	1.24mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	24d	1	1.28mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	24d	1	1.36mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	13d	1	1.42mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	5d	1	1.44mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	24d	1	1.46mi
13226 Avery Ave Unit 8A Flushing, NY	2.0	2.0	725	$2,800	$3.86	3d	1	1.49mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	16d	1	1.50mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $245,000 Active 142 DOM
2. 2026-06-17
   days on market $245,000 Active 141 DOM
3. 2026-06-15
   days on market $245,000 Active 139 DOM
4. 2026-06-13
   days on market $245,000 Active 137 DOM
5. 2026-06-10
   days on market $245,000 Active 133 DOM
6. 2026-06-08
   days on market $245,000 Active 132 DOM
7. 2026-06-04
   days on market $245,000 Active 128 DOM
8. 2026-06-03
   days on market $245,000 Active 127 DOM
9. 2026-06-01
   days on market $245,000 Active 125 DOM
10. 2026-05-31
    days on market $245,000 Active 124 DOM
11. 2026-02-18
    price $245,000
12. 2026-01-21
    listed $255,000 Active
13. 2024-05-08
    historical
14. 2023-11-21
    status Active
15. 2023-11-21
    price $250,000
16. 2023-11-09
    historical
17. 2023-11-02
    price $259,999
18. 2023-10-05
    listed $264,000 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 · 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: $28,921
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,314
• − Management: −$2,314
• − Depreciation: −$7,127
• Taxable loss: −$1,458
• Est. tax savings @ 24.0%: +$350
• After-tax cash flow: $2,879/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): 40,923
• Household income: $75,061
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2010.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 42% Asian 25% Hispanic / Latino 19% Black 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3% Dominican 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Hispanic 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 41% English-only · Chinese 16% Spanish 15% Russian/Polish/Slavic 9%

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: ▼ -211.36%
• Current HPI: 220.6177
• 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

-7.2% since first listed

8 events — show timeline

• 2026-02-18 Price Changed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-21 Listed $255,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-11-21 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-02 Price Changed $259,999 OneKey® MLS as Distributed by MLS Grid
• 2023-10-05 Listed $264,000 OneKey® MLS as Distributed by MLS Grid