69-18 Bell Blvd Unit B · New York, NY 11364

$238,000

1 bd · 1.0 ba · 650 sqft · Condo · 25 Days on market

Built 1955

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Why this score? — see what drove the C- 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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Charming Sunny & Spacious Upper Beauty Features Renovated Subway Tiled Kitchen with Bosch Dishwasher & New Washer Machine and Lots of Kitchen Storage Space. Large Living Room, Hardwood Flooring Throughout, Immaculately Kept Bathroom with New Pedestal Sink, Spacious Bedroom with Custom Closets Includes Shelving from The Container Store. Full Attic for Storage with Pull Down Stairs. Near Schools, Shops, & Transportation., Additional information: Appearance:Good,Interior Features:Lr/Dr

Key facts

• Clean bathroom
• Modern kitchen
• Granite countertops

Tags

• MODERN KITCHEN
• WHITE SHAKER CABINETS
• GRANITE COUNTERTOPS
• HARDWOOD FLOORS
• ABUNDANT NATURAL SUNLIGHT
• CLEAN BATHROOM

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Private trash collection; Water available; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: Entry level: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window air conditioning units
• Interior features: Galley-style kitchen; No basement; Total of 3 rooms; Cats permitted
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $238k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/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 $233k (1.9% below list).
• Recommended offer: $233k (1.9% below list) — sets the bar for 1% rule.
• 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: Rents rising fast (+8.5%/yr); 248 active listings in the ZIP; 5 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).

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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $202k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $233,478 (1.9% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 8.5

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-13,472
• Equity at exit: $35,487

10-year hold

• IRR: 9.7%
• Equity multiple: 1.91×
• Total profit: $60,949
• Equity at exit: $20,578

Cash invested: $66,640 (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: 248
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,335 high
• Mortgage (P&I): −$1,248
• Tax est. 1.5%: −$298 /mo · $3,570/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $200

Break-even live

Break-even rent $2,082

Max offer price $238,000

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: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	24d	1	1.11mi
8827 208th St Queens Village, NY	1.0	1.0	640	$1,900	$2.97	24d	1	1.35mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	24d	1	1.37mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	1.46mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	24d	1	1.47mi

HOA detail condo

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

Listing history 10 events

1. 2026-04-16
   status Pending
2. 2026-03-25
   status Active
3. 2026-02-28
   status Pending
4. 2026-02-24
   listed $238,000 Active
5. 2026-02-13
   price $238,000
6. 2026-02-13
   historical
7. 2025-12-07
   listed $249,000 Active
8. 2021-03-24
   soldstatus $202,500 Closed 504-char remark

   Show marketing remark (504 chars)

   This Charming Sunny & Spacious Upper Beauty Features Renovated Subway Tiled Kitchen with Bosch Dishwasher & New Washer Machine and Lots of Kitchen Storage Space. Large Living Room, Hardwood Flooring Throughout, Immaculately Kept Bathroom with New Pedestal Sink, Spacious Bedroom with Custom Closets Includes Shelving from The Container Store. Full Attic for Storage with Pull Down Stairs. Near Schools, Shops, & Transportation., Additional information: Appearance:Good,Interior Features:Lr/Dr

9. 2020-10-27
   status Pending 504-char remark

   Show marketing remark (504 chars)

   This Charming Sunny & Spacious Upper Beauty Features Renovated Subway Tiled Kitchen with Bosch Dishwasher & New Washer Machine and Lots of Kitchen Storage Space. Large Living Room, Hardwood Flooring Throughout, Immaculately Kept Bathroom with New Pedestal Sink, Spacious Bedroom with Custom Closets Includes Shelving from The Container Store. Full Attic for Storage with Pull Down Stairs. Near Schools, Shops, & Transportation., Additional information: Appearance:Good,Interior Features:Lr/Dr

10. 2020-10-09
    listed $208,000 Active 504-char remark

    Show marketing remark (504 chars)

    This Charming Sunny & Spacious Upper Beauty Features Renovated Subway Tiled Kitchen with Bosch Dishwasher & New Washer Machine and Lots of Kitchen Storage Space. Large Living Room, Hardwood Flooring Throughout, Immaculately Kept Bathroom with New Pedestal Sink, Spacious Bedroom with Custom Closets Includes Shelving from The Container Store. Full Attic for Storage with Pull Down Stairs. Near Schools, Shops, & Transportation., Additional information: Appearance:Good,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: $28,017
• − Mortgage interest: −$13,332
• − Property taxes: −$3,570
• − Insurance: −$1,190
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$6,924
• Taxable loss: −$1,481
• Est. tax savings @ 24.0%: +$355
• After-tax cash flow: $2,752/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

+14.4% since first listed

10 events — show timeline

• 2026-04-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Listed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $238,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-07 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-24 Sold (MLS) $202,500 OneKey® MLS as Distributed by MLS Grid
• 2020-10-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-10-09 Listed $208,000 OneKey® MLS as Distributed by MLS Grid