241-20 Northern Blvd Unit 5E · New York, NY 11362

$369,000

2 bd · 1.0 ba · 1,044 sqft · Condo · 16 Days on market

Built 1961

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

Listing remarks MLS

Discover the perfect blend of comfort and convenience in this well-maintained, clean, and bright coop unit. Situated in a desirable location, this home is ideal for those seeking a peaceful and modern living space. The open floor design creates an inviting and spacious atmosphere, making the unit feel larger than its actual size. Enjoy a generous master bedroom featuring an open closet and ample storage space for all your needs. Located on the same block as a bus station, the unit is just a 7-minute walk to the LIRR Douglaston station, providing easy access to Manhattan and other areas. The proximity to major highways like Cross Island Parkway and Long Island Expressway means you can reach your destination quickly by car. Various restaurants, shops, grocery stores, convenience stores, and pharmacies are within walking distance, ensuring that everything you need is just a short stroll away. This coop offers exceptional value for a fantastic location and living space. Experience the perfect combination of a vibrant neighborhood and a tranquil home. Schedule a viewing today to see why this coop is the ideal place to call home.

Key facts

• Ample storage space
• Open floor design
• Tranquil home

Tags

• OPEN FLOOR DESIGN
• GENEROUS MASTER BEDROOM
• AMPLE STORAGE SPACE
• EASY ACCESS TO MANHATTAN
• PROXIMITY TO MAJOR HIGHWAYS
• TRANQUIL HOME

🏢 Co-op / cooperative unit. The $369,000 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 2-bed/1.0-bath condo listed at $369k.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/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 $333k (9.7% below list).
• Recommended offer: $333k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 0.1% 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.
• 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: 162 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 33% of the median local income ($122k/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 $3k of loan paydown is wiped out by about $11k 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 16 days — a 2% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $230k; list at $369k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 60% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $333,334 (9.7% 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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 0.90% ✗
• Cap rate: 0.08%
• Cash-on-cash: -22.19%
• DSCR: 0.01
• GRM: 9.2

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: -62.8%
• Equity multiple: -0.74×
• Total profit: $-180,214
• Equity at exit: $55,019

10-year hold

• IRR: —
• Equity multiple: -1.99×
• Total profit: $-308,447
• Equity at exit: $31,904

Cash invested: $103,320 (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 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,333 high
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• HOA est. from 1 same-building comp: −$1,994
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $-1,911

Break-even live

Break-even rent $5,752

Max offer price $92,513

Occupancy floor —

Sensitivity live

Price	-10% $-1,656	-5% $-1,783	+0% $-1,911	+5% $-2,038	+10% $-2,166
Rent	-10% $-2,174	-5% $-2,042	+0% $-1,911	+5% $-1,779	+10% $-1,647
Rate	-1.0pp $-1,725	-0.5pp $-1,817	base $-1,911	+0.5pp $-2,006	+1.0pp $-2,104

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,200	$3.56	1d	1	0.07mi
4230 Douglaston Pkwy Little Neck, NY	1.0	1.0	700	$1,800	$2.57	21d	1	0.23mi
4245 247th St Little Neck, NY	3.0	1.0	1080	$3,800	$3.52	26d	1	0.35mi
4141 Little Neck Pkwy #3 Little Neck, NY	2.0	2.0	1350	$3,000	$2.22	26d	1	0.57mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	26d	1	0.89mi
245-63 61st Ave Unit 1FL Flushing, NY	3.0	2.0	1000	$3,000	$3.00	26d	1	0.91mi
43-27 220th St Unit 2nd Floor Flushing, NY	3.0	2.0	1200	$3,700	$3.08	26d	1	0.91mi
5710 253rd St Little Neck, NY	3.0	1.0	1236	$3,400	$2.75	3d	1	0.94mi
5775 Cloverdale Blvd Oakland Gardens, NY	3.0	2.0	1200	$4,200	$3.50	26d	1	0.98mi
4623 Arcadia Ln Great Neck, NY	3.0	1.0	1480	$4,700	$3.18	45d	1	1.03mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	26d	1	1.03mi
253-15 60th Ave Unit 2nd Floor Flushing, NY	3.0	2.0	1100	$3,500	$3.18	5d	1	1.05mi
42-04 216th St Unit 2 Bayside, NY	3.0	2.0	1250	$3,200	$2.56	20d	1	1.14mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	6d	1	1.15mi
214-16 40th Ave Unit 3rd Floor Flushing, NY	2.0	1.0	900	$2,800	$3.11	26d	1	1.30mi
5804 264th St Little Neck, NY	3.0	2.0	1196	$4,700	$3.93	12d	1	1.35mi
40-21 Bell Blvd Ste 2 Bayside, NY	3.0	2.0	1250	$3,600	$2.88	5d	1	1.36mi
61-11 219th St Unit 2 Flushing, NY	3.0	1.5	1200	$3,050	$2.54	17d	1	1.36mi
100 Cuttermill Rd Great Neck, NY	1.0–2.0	1.5–2.5	1200	$5,500	$4.58	26d	1	1.39mi
4 Chelsea Pl Apt 3F Great Neck, NY	2.0	2.0	900	$4,600	$5.11	26d	1	1.46mi
4 Chelsea Pl Unit 3D Great Neck, NY	2.0	2.0	1200	$4,700	$3.92	45d	1	1.46mi
6923 Little Neck Pkwy Glen Oaks, NY	3.0	2.0	1300	$3,250	$2.50	13d	1	1.49mi
5847 215th St Bayside Hills, NY	3.0	2.0	1196	$4,860	$4.06	26d	1	1.49mi
6747 222nd St Oakland Gardens, NY	3.0	1.0	924	$2,700	$2.92	4d	1	1.49mi

HOA detail condo

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

Listing history 12 events

1. 2026-04-10
   status Pending 1143-char remark

   Show marketing remark (1143 chars)

   Discover the perfect blend of comfort and convenience in this well-maintained, clean, and bright coop unit. Situated in a desirable location, this home is ideal for those seeking a peaceful and modern living space. The open floor design creates an inviting and spacious atmosphere, making the unit feel larger than its actual size. Enjoy a generous master bedroom featuring an open closet and ample storage space for all your needs. Located on the same block as a bus station, the unit is just a 7-minute walk to the LIRR Douglaston station, providing easy access to Manhattan and other areas. The proximity to major highways like Cross Island Parkway and Long Island Expressway means you can reach your destination quickly by car. Various restaurants, shops, grocery stores, convenience stores, and pharmacies are within walking distance, ensuring that everything you need is just a short stroll away. This coop offers exceptional value for a fantastic location and living space. Experience the perfect combination of a vibrant neighborhood and a tranquil home. Schedule a viewing today to see why this coop is the ideal place to call home.

2. 2026-04-08
   status Pending
3. 2026-03-23
   listed $369,000 Active 1143-char remark

   Show marketing remark (1143 chars)

   Discover the perfect blend of comfort and convenience in this well-maintained, clean, and bright coop unit. Situated in a desirable location, this home is ideal for those seeking a peaceful and modern living space. The open floor design creates an inviting and spacious atmosphere, making the unit feel larger than its actual size. Enjoy a generous master bedroom featuring an open closet and ample storage space for all your needs. Located on the same block as a bus station, the unit is just a 7-minute walk to the LIRR Douglaston station, providing easy access to Manhattan and other areas. The proximity to major highways like Cross Island Parkway and Long Island Expressway means you can reach your destination quickly by car. Various restaurants, shops, grocery stores, convenience stores, and pharmacies are within walking distance, ensuring that everything you need is just a short stroll away. This coop offers exceptional value for a fantastic location and living space. Experience the perfect combination of a vibrant neighborhood and a tranquil home. Schedule a viewing today to see why this coop is the ideal place to call home.

4. 2026-03-23
   listed $369,000 Active

   Show marketing remark (1143 chars)

   Discover the perfect blend of comfort and convenience in this well-maintained, clean, and bright coop unit. Situated in a desirable location, this home is ideal for those seeking a peaceful and modern living space. The open floor design creates an inviting and spacious atmosphere, making the unit feel larger than its actual size. Enjoy a generous master bedroom featuring an open closet and ample storage space for all your needs. Located on the same block as a bus station, the unit is just a 7-minute walk to the LIRR Douglaston station, providing easy access to Manhattan and other areas. The proximity to major highways like Cross Island Parkway and Long Island Expressway means you can reach your destination quickly by car. Various restaurants, shops, grocery stores, convenience stores, and pharmacies are within walking distance, ensuring that everything you need is just a short stroll away. This coop offers exceptional value for a fantastic location and living space. Experience the perfect combination of a vibrant neighborhood and a tranquil home. Schedule a viewing today to see why this coop is the ideal place to call home.

5. 2025-10-02
   status Active
6. 2025-10-02
   price $369,000
7. 2025-05-07
   listed $379,000 Active
8. 2025-04-22
   historical
9. 2024-08-08
   listed $388,000 Active
10. 2024-08-08
    listed $388,000 Active
11. 2012-08-10
    soldstatus $230,000
12. 2012-02-28
    listed $242,000

ⓘ 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 · 14 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,000
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$1,845
• − Repairs & maintenance: −$3,200
• − Management: −$3,200
• − HOA: −$23,928
• − Depreciation: −$10,735
• Taxable loss: −$29,112
• Est. tax savings @ 24.0%: +$6,987
• After-tax cash flow: $-15,942/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): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

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 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 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: ▼ -117.12%
• Current HPI: 259.773
• 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

+52.5% since first listed

12 events — show timeline

• 2026-04-10 Pending — SIBORMLS
• 2026-04-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $369,000 SIBORMLS
• 2025-10-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-02 Price Changed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-07 Listed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-22 Listing Removed — SIBORMLS
• 2024-08-08 Listed $388,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-08 Listed $388,000 SIBORMLS
• 2012-08-10 Sold (MLS) $230,000 OneKey® MLS as Distributed by MLS Grid
• 2012-02-28 Listed $242,000 OneKey® MLS as Distributed by MLS Grid