19649 69th Ave #2 · New York, NY 11365

$215,000

1 bd · 1.0 ba · 650 sqft · Condo · 64 Days on market

Built 1952

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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 +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Heart Of Fresh Meadows, Beautiful Garden Styled Coop., Top Floor, Garden View, Excellent Condition, Near Buses, Supermarket, Schools, Seeing Is Believing., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

Key facts

• Ev charging station
• Near supermarkets
• Near restaurants

Tags

• UPGRADED KITCHEN
• EV CHARGING STATION
• NEAR PARKS
• NEAR SCHOOL
• NEAR SUPERMARKETS
• NEAR RESTAURANTS

Property features AI

Exterior

• Parking: Garage; On-street parking; 1 garage space; Parking fee required
• Utilities: Public sewer; Electricity available; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; Two total stories; Entry on level 2
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas cooktop; Gas oven; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units
• Interior features: Original details; Common basement; Basement present; Total of 4 rooms; Two-story building (unit on entry level 2)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+6.2%/yr); 131 active listings in the ZIP; 6 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).
• This rent runs 35% of the median local income ($81k/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 $1k of loan paydown is wiped out by about $6k 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 + 6.2% rent growth), your $60k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $135k; list at $215k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.11% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-4,992
• Equity at exit: $32,057

10-year hold

• IRR: 10.9%
• Equity multiple: 1.98×
• Total profit: $59,290
• Equity at exit: $18,589

Cash invested: $60,200 (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 11365

• Rents YoY: 6.2%
• Active inventory: 131
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $341

Break-even live

Break-even rent $1,965

Max offer price $215,000

Occupancy floor 81%

Sensitivity live

Price	-10% $489	-5% $415	+0% $341	+5% $266	+10% $192
Rent	-10% $151	-5% $246	+0% $341	+5% $435	+10% $530
Rate	-1.0pp $449	-0.5pp $395	base $341	+0.5pp $285	+1.0pp $228

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	25d	1	0.40mi
67-05H 186th Ln Fresh Meadows, NY	2.0	1.0	700	$3,100	$4.43	25d	1	0.50mi
73-49 188th St Unit 2 Flushing, NY	1.0	1.0	650	$2,000	$3.08	25d	1	0.50mi
178-05 69th Ave Unit 2 Flushing, NY	2.0	1.0	750	$2,700	$3.60	25d	1	0.91mi
8737 Marengo St #1 Hollis, NY	1.0	1.0	720	$1,950	$2.71	11d	1	1.34mi
196-42 44th Ave #2 Flushing, NY	1.0	1.0	600	$2,200	$3.67	5d	1	1.35mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $215,000 Active 64 DOM
2. 2026-06-17
   days on market $215,000 Active 63 DOM
3. 2026-06-15
   days on market $215,000 Active 61 DOM
4. 2026-06-13
   days on market $215,000 Active 59 DOM
5. 2026-06-10
   days on market $215,000 Active 55 DOM
6. 2026-06-08
   days on market $215,000 Active 54 DOM
7. 2026-06-08
   days on market $215,000 Active 53 DOM
8. 2026-06-04
   days on market $215,000 Active 50 DOM
9. 2026-06-03
   days on market $215,000 Active 49 DOM
10. 2026-06-01
    days on market $215,000 Active 47 DOM
11. 2026-05-31
    days on market $215,000 Active 46 DOM
12. 2026-04-15
    listed $215,000 Active
13. 2015-04-28
    soldstatus $135,000 263-char remark

    Show marketing remark (263 chars)

    Location, Location, Heart Of Fresh Meadows, Beautiful Garden Styled Coop., Top Floor, Garden View, Excellent Condition, Near Buses, Supermarket, Schools, Seeing Is Believing., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,Lr/Dr

14. 2014-05-05
    listed $150,000 263-char remark

    Show marketing remark (263 chars)

    Location, Location, Heart Of Fresh Meadows, Beautiful Garden Styled Coop., Top Floor, Garden View, Excellent Condition, Near Buses, Supermarket, Schools, Seeing Is Believing., Additional information: Appearance:Excellent,Interior Features:Efficiency Kitchen,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 8/10 Severe FEMA zone X (unshaded) · 99% 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,755
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − Depreciation: −$6,255
• Taxable income: $759
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $3,907/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): 42,322
• Household income: $81,258
• Rent vs Own: 53.6% rent · 46.4% own
• Severe rent burden: 1876.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Asian 43% White 23% Hispanic / Latino 21% Two or more races 11% Black 11%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Scotch-Irish 4% Romanian 1% Slovak 1%
• Foreign-born: 46% · China, Canada, South Korea
• Languages at home: 41% English-only · Chinese 26% Spanish 13% 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: ▼ -298.48%
• Current HPI: 314.4015
• Rent YoY: ▲ 6.24%
• 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

+43.3% since first listed

3 events — show timeline

• 2026-04-15 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2015-04-28 Sold (MLS) $135,000 OneKey® MLS as Distributed by MLS Grid
• 2014-05-05 Listed $150,000 OneKey® MLS as Distributed by MLS Grid