140-39 34th Ave Unit 2T · New York, NY 11354

$339,000

2 bd · 1.0 ba · 912 sqft · Condo public records · 13 Days on market

Built 1960 ↓ 3% 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 +12.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this generously sized two-bedroom Cooperative offering an unbeatable combination of space, style, and value in one of Queens' most vibrant and well-connected neighborhoods. Step inside to a bright, open-concept living and dining area designed for comfortable everyday living and easy entertaining. The fully renovated kitchen is the showpiece of the home, featuring sleek granite countertops, stainless steel appliances, and modern cabinetry — a true chef's kitchen that's as beautiful as it is functional. Both bedrooms are generously proportioned, offering the flexibility to work from home, host guests, or simply spread out and enjoy the extra square footage that's increasingly

Key facts

• Modern cabinetry
• Laundry on-site
• Granite countertops

Tags

• OPEN-CONCEPT LIVING
• FULLY RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• MODERN CABINETRY
• LAUNDRY ON-SITE

Property features AI

Finance

• HOA & community: Hampshire Cooperative; Monthly abatement assessment of $269.10

Exterior

• Parking: Assigned parking; Garage parking available; Waitlist for parking; Total of 45 parking spaces; Parking fee: $60
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Phone available; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative (co-op)
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Gas range; Refrigerator; Stainless steel appliances
• Bedrooms: Entry level: 2
• Flooring: Carpet; Ceramic tile; Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Entrance foyer; Galley-style kitchen; Granite counters; Finished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $339k.

Deal economics

• At list price, monthly cash flow is $-75 ($-904/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (15.3% below list).
• Recommended offer: $287k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 (+2.8%/yr); 656 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $2,870/mo this rent would consume 52% of the median local household income ($66k/yr) (locally 4119% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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

• 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 $287,012 (15.3% 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. Built in 1960 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.36×
• Total profit: $-60,323
• Equity at exit: $50,546

10-year hold

• IRR: -10.7%
• Equity multiple: 0.36×
• Total profit: $-61,122
• Equity at exit: $29,311

Cash invested: $94,920 (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 11354

• Home prices YoY: -33.9%
• Rents YoY: 2.8%
• Active inventory: 656
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,870 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-75

Break-even live

Break-even rent $2,966

Max offer price $328,096

Occupancy floor 98%

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140-16 34th Ave Apt 1003 Flushing, NY	2.0	2.0	1100	$3,300	$3.00	24d	1	0.06mi
14016 34th Ave Unit 1210 Flushing, NY	2.0	1.0	900	$3,000	$3.33	6d	1	0.06mi
140-16 34th Ave Unit 1113 Flushing, NY	2.0	1.0	900	$3,000	$3.33	24d	1	0.06mi
139-31 34th Ave Unit 3rd fl Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.10mi
3132 Union St Unit 4G Flushing, NY	1.0	1.0	650	$2,400	$3.69	7d	1	0.15mi
141-25 Northern Blvd Unit A14 Flushing, NY	1.0	1.0	880	$2,350	$2.67	10d	1	0.16mi
3132 Union St Flushing, NY	1.0	1.0	625	$2,400	$3.84	18d	1	0.18mi
145-18 34th Ave Unit 8A Flushing, NY	1.0	2.0	700	$2,400	$3.43	1d	1	0.20mi
13812 Northern Blvd Unit 7F Flushing, NY	1.0	1.0	600	$2,500	$4.17	11d	1	0.24mi
13702 Northern Blvd Flushing, NY	1.0–2.0	1.0	850	$2,850	$3.35	7d	2	0.24mi
36-20 Parsons Blvd Unit 5D Flushing, NY	2.0	1.0	900	$2,600	$2.89	14d	1	0.25mi
3641 Union St Unit 2B Flushing, NY	2.0	1.0	968	$3,100	$3.20	24d	1	0.29mi
14238 37th Ave Unit 4C Flushing, NY	2.0	2.0	820	$2,800	$3.41	24d	1	0.30mi
14424 37th Ave Unit 5B Flushing, NY	2.0	1.0	560	$2,800	$5.00	24d	1	0.32mi
137-02 Northern Blvd Unit 6K Flushing, NY	2.0	1.0	900	$2,850	$3.17	10d	1	0.39mi
3371 Prince St Unit 8J Flushing, NY	2.0	2.0	741	$4,075	$5.50	15d	1	0.40mi
3371 Prince St Unit 7C Flushing, NY	2.0	2.0	773	$4,025	$5.21	15d	1	0.40mi
3371 Prince St Unit 6K Flushing, NY	2.0	2.0	768	$4,000	$5.21	15d	1	0.40mi
3371 Prince St Unit 8F Flushing, NY	2.0	2.0	716	$4,050	$5.66	15d	1	0.40mi
14489 38th Ave Unit 4C Flushing, NY	1.0	1.0	790	$2,400	$3.04	24d	1	0.40mi
13835 39th Ave Flushing, NY	2.0–3.0	2.0	1000	$4,500	$4.50	1d	2	0.40mi
13835 39th Ave Flushing, NY	2.0	2.0	1014	$4,350	$4.29	24d	2	0.40mi
13416 35th Ave Unit 7E Flushing, NY	2.0	2.0	681	$3,300	$4.85	24d	1	0.41mi
14809 Northern Blvd Flushing, NY	2.0–3.0	2.0	1056	$3,500	$3.31	14d	2	0.44mi
2621 Union St Flushing, NY	1.0	1.0	800	$1,800	$2.25	18d	1	0.45mi
14943 35th Ave Flushing, NY	1.0	1.0	775	$2,450	$3.16	2d	2	0.54mi
14943 35th Ave Flushing, NY	1.0	1.0	750	$2,400	$3.20	1d	1	0.55mi
40-10 149th St Fl 3 Flushing, NY	3.0	2.0	1030	$2,900	$2.82	12d	1	0.58mi
40-10 149th St Fl 1 Flushing, NY	2.0	1.0	900	$2,200	$2.44	14d	1	0.58mi
150-01 Northern Blvd Flushing, NY	2.0	2.0	850	$2,800	$3.29	24d	1	0.59mi
14427 Sanford Ave Unit 7G Flushing, NY	2.0	1.0	655	$3,500	$5.34	24d	1	0.61mi
3916 Prince St Flushing, NY	1.0	1.0	530	$2,900	$5.47	15d	2	0.62mi
14731 Barclay Ave Flushing, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.64mi
13327 39th Ave Unit 3N Flushing, NY	1.0	1.0	720	$3,600	$5.00	24d	1	0.65mi
149-08 41st Ave Unit 3rd Floor Flushing, NY	1.0	1.0	675	$1,850	$2.74	18d	1	0.66mi
4229 Parsons Blvd Unit 6B Flushing, NY	3.0	2.0	860	$3,400	$3.95	24d	1	0.71mi
4156 149th St Flushing, NY	3.0	1.0	1000	$3,000	$3.00	24d	1	0.71mi
13101 40th Rd Unit 2P Flushing, NY	1.0	1.0	761	$3,300	$4.34	24d	1	0.77mi
133-08 41st Rd Flushing, NY	2.0	1.0	700	$2,300	$3.29	24d	1	0.77mi
4022 College Point Blvd Flushing, NY	1.0–2.0	1.0–2.0	983	$4,000	$4.07	24d	2	0.77mi

HOA detail condo

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

Listing history 9 events

1. 2026-06-18
   days on market $339,000 Active 13 DOM
2. 2026-06-17
   days on market $339,000 Active 12 DOM
3. 2026-06-16
   days on market $339,000 Active 11 DOM
4. 2026-06-15
   days on market $339,000 Active 10 DOM
5. 2026-06-13
   days on market $339,000 Active 8 DOM
6. 2026-06-09
   days on market $339,000 Active 4 DOM
7. 2026-06-08
   days on market $339,000 Active 3 DOM
8. 2026-06-07
   remarks 693-char remark
9. 2026-06-07
   listed $339,000 Active 2 DOM

ⓘ 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: $34,441
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$2,755
• − Management: −$2,755
• − Depreciation: −$9,862
• Taxable loss: −$6,700
• Est. tax savings @ 24.0%: +$1,608
• After-tax cash flow: $704/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): 53,028
• Household income: $66,010
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 4119.0

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: Majority Asian (64%)
• Race & ethnicity: Asian 64% White 15% Hispanic / Latino 14% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 1% Italian 1%
• Foreign-born: 66% · China, Canada, South Korea
• Languages at home: 22% English-only · Chinese 43% Spanish 14% Korean 11%

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: ▼ -131.64%
• Current HPI: 257.0828
• Rent YoY: ▲ 2.78%
• 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

-2.9% since first listed

5 events — show timeline

• 2026-05-22 Listed $339,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $339,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-15 Listed $349,000 OneKey® MLS as Distributed by MLS Grid