264-47A Langstone Ave Unit GV133-A1 · New York, NY 11004

$285,000

1 bd · 1.0 ba · 680 sqft · Condo · 39 Days on market

Built 1949 Good condition

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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
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Cash flow +3.6/30.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully renovated 1-bedroom, 1-bath co-op located in the desirable Glen Oaks Village community. This bright and inviting home features a spacious layout with updated finishes throughout, offering both comfort and style. The apartment boasts a sun-filled living and dining area, an updated kitchen with modern cabinetry and appliances, a generously sized bedroom, and a renovated bathroom with contemporary touches. Hardwood floors, ample closet space, and thoughtful upgrades complete this move-in-ready residence. Nestled in a well-maintained community with beautifully landscaped grounds, Glen Oaks Village offers convenient access to shopping, dining, schools, parks, and publ

Key facts

• Built 1949
• Listed 39 days

Property features AI

Exterior

• Parking: Common parking lot; Private parking available
• Utilities: Public sewer; Electricity available; Sewer connected; Public trash collection; Water connected
• Home design: Townhouse; Stock cooperative; Actual property condition
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: Entry level: 1
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating
• Interior features: First-floor bedroom; First-floor full bath; Breakfast bar
• Laundry & utility: Pets: contact management

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-846 ($-10k/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 $250k (12.2% below list).
• Recommended offer: $250k (12.2% below list) — sets the bar for 1% rule.

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: 84 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $9k 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 39 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,192 (12.2% 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 39 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 1949 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 2.73%
• Cash-on-cash: -12.72%
• DSCR: 0.43
• GRM: 9.5

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: -39.6%
• Equity multiple: -0.25×
• Total profit: $-99,505
• Equity at exit: $42,494

10-year hold

• IRR: -59.6%
• Equity multiple: -0.93×
• Total profit: $-153,750
• Equity at exit: $24,642

Cash invested: $79,800 (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 11004

• Active inventory: 84
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA est. from 1 same-building comp: −$853
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-846

Break-even live

Break-even rent $3,573

Max offer price $162,576

Occupancy floor —

Sensitivity live

Price	-10% $-649	-5% $-748	+0% $-846	+5% $-945	+10% $-1,043
Rent	-10% $-1,044	-5% $-945	+0% $-846	+5% $-747	+10% $-648
Rate	-1.0pp $-703	-0.5pp $-774	base $-846	+0.5pp $-920	+1.0pp $-995

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	0.71mi
76-37 Commonwealth Blvd Unit 2 Jamaica, NY	1.0	1.0	641	$2,200	$3.43	26d	1	0.79mi
318 Jericho Tpke Unit 1R Floral Park, NY	1.0	1.0	500	$1,900	$3.80	18d	1	1.10mi
322 Jericho Tpke Floral Park, NY	2.0	1.0	700	$2,800	$4.00	13d	1	1.11mi
248-15 89th Ave Unit 2nd Queens, NY	1.0	1.0	700	$2,200	$3.14	3d	1	1.18mi
77 S Tyson Ave Floral Park, NY	1.0–2.0	1.0–2.0	807	$3,095	$3.83	0d	1	1.23mi
102 Jericho Tpke Unit 3C New Hyde Park, NY	1.0	1.0	685	$2,000	$2.92	0d	1	1.23mi
402 Jericho Tpke Unit 1 New Hyde Park, NY	1.0	1.0	616	$2,850	$4.63	0d	1	1.30mi
145 Tulip Ave Floral Park, NY	2.0	1.0	600	$2,600	$4.33	0d	1	1.31mi
36 Lakeville Rd New Hyde Park, NY	2.0	1.0	650	$3,500	$5.38	0d	1	1.37mi
610 Jericho Tpke New Hyde Park, NY	2.0	1.0	525	$2,900	$5.52	0d	1	1.37mi
246-04 Jericho Tpke Unit 2 Bellerose, NY	1.0	1.0	520	$2,200	$4.23	0d	1	1.42mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $285,000 Active 39 DOM
2. 2026-06-18
   days on market $285,000 Active 36 DOM
3. 2026-06-17
   days on market $285,000 Active 35 DOM
4. 2026-06-16
   days on market $285,000 Active 34 DOM
5. 2026-06-15
   days on market $285,000 Active 33 DOM
6. 2026-06-13
   days on market $285,000 Active 31 DOM
7. 2026-06-10
   days on market $285,000 Active 27 DOM
8. 2026-06-08
   days on market $285,000 Active 26 DOM
9. 2026-06-08
   days on market $285,000 Active 25 DOM
10. 2026-06-04
    days on market $285,000 Active 22 DOM
11. 2026-06-03
    days on market $285,000 Active 21 DOM
12. 2026-06-02
    days on market $285,000 Active 20 DOM
13. 2026-06-01
    days on market $285,000 Active 19 DOM
14. 2026-05-31
    days on market $285,000 Active 18 DOM
15. 2026-05-12
    listed $285,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,023
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − HOA: −$10,236
• − Depreciation: −$8,291
• Taxable loss: −$14,972
• Est. tax savings @ 24.0%: +$3,593
• After-tax cash flow: $-6,559/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.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab

This beautifully renovated 1-bedroom, 1-bath co-op is move-in ready with updated finishes and a fresh exterior. It offers a great value for both resale and rental markets.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Replace air conditioning unit — Modern unit improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Replace air conditioning unit — Modern unit improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,296

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 0.65)
• Race & ethnicity: Asian 52% White 27% Hispanic / Latino 10% Two or more races 6% Black 6%
• Hispanic origin (detail): Puerto Rican 4% Salvadoran 1%
• Common ancestry: Romanian 2% Scotch-Irish 1% Danish 1%
• Foreign-born: 47% · Canada, China, South Korea
• Languages at home: 45% English-only · Other Indo-European 25% Other Asian/Pacific 10% Spanish 7%

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: ▼ -218.37%
• Current HPI: 162.6149
• 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 event — show timeline

• 2026-05-12 Listed $285,000 OneKey® MLS as Distributed by MLS Grid