26-15 4 St Unit 2C · New York, NY 11102

$805,000

2 bd · 2.0 ba · 807 sqft · SingleFamily · 262 Days on market

Built 2024 $356/mo HOA · 6% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.9/10.0

Listing remarks MLS

* * * All showings are by appointments only * * * * * * Financing available with as little as 3% down (special conditions apply) * * * Welcome to Residence 2C at The OpenAire – a beautifully crafted two-bedroom, two-bathroom condominium with private outdoor balcony, perfectly situated along the vibrant Astoria waterfront. This thoughtfully designed home blends modern elegance with functionality, offering a serene escape just minutes from the energy of Manhattan. Experience sophisticated interiors designed for both comfort and style. The custom-designed kitchen is outfitted with premium appliances from Haier and GE, a Fanco ventilation system, sleek matte wood cabinetry, and quartz countertops and backsplashes, it offers the perfect blend of form and function. Natural light floods the home, drawing your eyes toward breathtaking panoramic views of the East River. The spacious bedroom has generous closet space and there are European soundproofed windows throughout. The bathroom features bright marble style porcelain tile on the floors and walls, wood vanities, and striking matte black fixtures that add a contemporary touch. Building Features & Amenities Residents will enjoy: 24 Hour Doorman service for added security and peace of mind On-site parking for residents A fully equipped gym to meet all your fitness goalsResident’s lounge for relaxing or entertaining guests Second Floor Terrace to take in fresh air and relaxRooftop Terrace With BBQ Grills and unparalleled views of the East River and Iconic Manhattan skylineShuttle bus to Public Transit Bicycle Storage Astoria is known for its rich cultural heritage, diverse dining scene, and vibrant art community. Residents of The OpenAire will be a short distance from the Astoria Waterfront, where you can enjoy stunning views of the East River, or relax and unwind at Astoria Park, with its scenic trails, tennis courts, and Olympic-size pool. For culture enthusiasts, Astoria boasts a variety of renowned museums, including the Museum of the Moving Image, the Noguchi Museum, and the Socrates Sculpture Park. You’ll also find a dynamic nightlife scene, eclectic shopping, and some of the best restaurants and cafes in New York City, offering everything from traditional Greek cuisine to modern fusion dining. Situated near 27th Avenue The OpenAire enjoys unmatched accessibility to Manhattan, Brooklyn, and beyond. The Q18, Q19, Q102, and Q103 buses are conveniently located right at the corner providing seamless travel options throughout Queens. The Astoria Ferry, just minutes away, offers a picturesque and fast commute to Midtown and Downtown Manhattan, as well as to Brooklyn’s waterfront communities. Some images are renderings. Sponsor reserves the right to interpret and modify.

Key facts

• Premium appliances
• $356 HOA
• Built 2024

Tags

• PRIVATE OUTDOOR BALCONY
• CUSTOM-DESIGNED KITCHEN
• PREMIUM APPLIANCES
• BREATHTAKING PANORAMIC VIEWS
• EUROPEAN SOUNDPROOFED WINDOWS
• STRIKING MATTE BLACK FIXTURES

Property features AI

Finance

• HOA & community: Has homeowners association; Monthly association fee of $356 (includes other items)

Exterior

• Parking: No carport; Parking: waitlist
• Utilities: Sewer: other; Utilities: see remarks
• Home design: Condominium
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified separately)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall/window air conditioning units; Other heating
• Interior features: Other interior features; Attic: see remarks
• Laundry & utility: Washer/dryer info not specified

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $805k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $618k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $586k (27.2% below list).
• Recommended offer: $586k (27.2% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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.
• 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: Rents rising fast (+4.8%/yr); 114 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• At $5,861/mo this rent would consume 73% of the median local household income ($97k/yr) (locally 2407% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($6k loan paydown + $1k appreciation (0.2% local appreciation)).
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($708k) is reasonable based on typical stale-listing flexibility.
• 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 $586,073 (27.2% 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 262 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.86%
• DSCR: 0.69
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $122,664
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26-15 4th St Unit 12-B	0.03mi	3/1.0 (+1)	875 (+8%)	14mo	$133,000	$152	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.16% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.61×
• Total profit: $-88,379
• Equity at exit: $240,374

10-year hold

• IRR: -0.9%
• Equity multiple: 0.90×
• Total profit: $-23,019
• Equity at exit: $294,283

Cash invested: $225,400 (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 11102

• Home prices YoY: 0.1%
• Rents YoY: 4.8%
• Active inventory: 114
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $5,861 high
• Mortgage (P&I): −$4,222
• Tax est. 1.5%: −$1,006 /mo · $12,075/yr
• Insurance: −$335
• HOA: −$356
• Vacancy / Maint / Mgmt: −$1,231
• Net cashflow: $-1,289

Break-even live

Break-even rent $7,493

Max offer price $618,451

Occupancy floor —

Sensitivity live

Price	-10% $-733	-5% $-1,011	+0% $-1,289	+5% $-1,567	+10% $-1,846
Rent	-10% $-1,752	-5% $-1,521	+0% $-1,289	+5% $-1,058	+10% $-826
Rate	-1.0pp $-884	-0.5pp $-1,084	base $-1,289	+0.5pp $-1,498	+1.0pp $-1,710

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: $201,250
• Closing costs: $24,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$4,899	$5.52	0d	10	0.32mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,050	$11.41	1d	2	0.69mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	22d	1	0.70mi
888 Main St New York, NY	3.0	1.0–2.0	908	$6,151	$6.77	1d	8	0.76mi
435 E 86th St Unit 2001 New York, NY	1.0	1.0	800	$5,480	$6.85	26d	1	0.80mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$5,580	$10.63	26d	2	0.80mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	5d	3	0.81mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$6,850	$9.89	1d	2	0.81mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	24d	1	0.83mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	26d	1	0.94mi
305 E 86th St New York, NY	1.0–3.0	1.0–2.0	820	$8,885	$10.83	26d	10	0.95mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	23d	1	0.96mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	880	$7,500	$8.52	0d	2	0.98mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	20d	1	0.98mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$6,100	$8.24	1d	2	1.00mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$9,640	$10.15	5d	2	1.02mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,810	$10.89	1d	1	1.02mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	20d	1	1.07mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$10,020	$14.31	1d	2	1.10mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$6,380	$10.63	5d	2	1.10mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	1d	1	1.12mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	24d	1	1.13mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	26d	1	1.13mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	26d	1	1.14mi
1377 Lexington Ave Unit 5CC New York, NY	2.0	1.0	796	$5,100	$6.41	22d	1	1.15mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$7,403	$12.69	1d	3	1.16mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	24d	1	1.16mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	23d	1	1.16mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	26d	1	1.16mi
404 E 76th St Unit 5C New York, NY	1.0	1.0	903	$4,895	$5.42	0d	1	1.16mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	8d	1	1.17mi
319 E 109th St Unit 1021947P New York, NY	3.0	1.0	818	$7,260	$8.88	7d	1	1.18mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$5,340	$9.71	26d	2	1.19mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$7,960	$12.51	4d	3	1.19mi
118 E 91st St Unit 1022052P New York, NY	3.0	1.0	592	$6,180	$10.44	9d	1	1.20mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	26d	1	1.22mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	18d	1	1.26mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	26d	1	1.26mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	26d	1	1.27mi
125 E 83rd St Unit 1312101P New York, NY	1.0	1.0	839	$7,470	$8.90	8d	1	1.28mi

HOA detail

• Monthly dues: $356 · $4,272/yr
• Likely covers: waterpoolgymdoormansecurity

Listing history 12 events

1. 2026-06-21
   days on market $805,000 Active 262 DOM
2. 2026-06-18
   days on market $805,000 Active 259 DOM
3. 2026-06-17
   days on market $805,000 Active 258 DOM
4. 2026-06-15
   days on market $805,000 Active 256 DOM
5. 2026-06-13
   days on market $805,000 Active 254 DOM
6. 2026-06-10
   days on market $805,000 Active 250 DOM
7. 2026-06-08
   days on market $805,000 Active 249 DOM
8. 2026-06-03
   days on market $805,000 Active 244 DOM
9. 2026-06-01
   days on market $805,000 Active 242 DOM
10. 2026-05-31
    days on market $805,000 Active 241 DOM
11. 2025-10-02
    listed $805,000 Active
12. 2025-08-09
    listed $805,000 Active 2800-char remark

    Show marketing remark (2800 chars)

    * * * All showings are by appointments only * * * * * * Financing available with as little as 3% down (special conditions apply) * * * Welcome to Residence 2C at The OpenAire – a beautifully crafted two-bedroom, two-bathroom condominium with private outdoor balcony, perfectly situated along the vibrant Astoria waterfront. This thoughtfully designed home blends modern elegance with functionality, offering a serene escape just minutes from the energy of Manhattan. Experience sophisticated interiors designed for both comfort and style. The custom-designed kitchen is outfitted with premium appliances from Haier and GE, a Fanco ventilation system, sleek matte wood cabinetry, and quartz countertops and backsplashes, it offers the perfect blend of form and function. Natural light floods the home, drawing your eyes toward breathtaking panoramic views of the East River. The spacious bedroom has generous closet space and there are European soundproofed windows throughout. The bathroom features bright marble style porcelain tile on the floors and walls, wood vanities, and striking matte black fixtures that add a contemporary touch. Building Features & Amenities Residents will enjoy: 24 Hour Doorman service for added security and peace of mind On-site parking for residents A fully equipped gym to meet all your fitness goalsResident’s lounge for relaxing or entertaining guests Second Floor Terrace to take in fresh air and relaxRooftop Terrace With BBQ Grills and unparalleled views of the East River and Iconic Manhattan skylineShuttle bus to Public Transit Bicycle Storage Astoria is known for its rich cultural heritage, diverse dining scene, and vibrant art community. Residents of The OpenAire will be a short distance from the Astoria Waterfront, where you can enjoy stunning views of the East River, or relax and unwind at Astoria Park, with its scenic trails, tennis courts, and Olympic-size pool. For culture enthusiasts, Astoria boasts a variety of renowned museums, including the Museum of the Moving Image, the Noguchi Museum, and the Socrates Sculpture Park. You’ll also find a dynamic nightlife scene, eclectic shopping, and some of the best restaurants and cafes in New York City, offering everything from traditional Greek cuisine to modern fusion dining. Situated near 27th Avenue The OpenAire enjoys unmatched accessibility to Manhattan, Brooklyn, and beyond. The Q18, Q19, Q102, and Q103 buses are conveniently located right at the corner providing seamless travel options throughout Queens. The Astoria Ferry, just minutes away, offers a picturesque and fast commute to Midtown and Downtown Manhattan, as well as to Brooklyn’s waterfront communities. Some images are renderings. Sponsor reserves the right to interpret and modify.

ⓘ 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 7/10 Severe 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,329
• − Mortgage interest: −$45,093
• − Property taxes: −$12,075
• − Insurance: −$4,025
• − Repairs & maintenance: −$5,626
• − Management: −$5,626
• − HOA: −$4,272
• − Depreciation: −$23,418
• Taxable loss: −$29,807
• Est. tax savings @ 24.0%: +$7,154
• After-tax cash flow: $-8,317/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): 28,503
• Household income: $96,617
• Rent vs Own: 86.6% rent · 13.4% own
• Severe rent burden: 2407.0

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 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 26% Asian 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 21% Other Indo-European 14% Russian/Polish/Slavic 3%

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: ▲ 0.16%
• Current HPI: 144.3118
• Rent YoY: ▲ 4.79%
• 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

+0.0% since first listed

2 events — show timeline

• 2025-10-02 Listed $805,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-09 Listed $805,000 RLS at REBNY