118-18 Union Tpke Unit 7D · New York, NY 11415

$198,000

1 bd · 1.0 ba · 750 sqft · Condo · 621 Days on market

Built 1974 ↓ 14% since listing

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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).

• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Cash flow +1.5/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

Key facts

• Built 1974
• Listed 621 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $198k.

Deal economics

• At list price, monthly cash flow is $-837 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $198k).
• Recommended offer: $174k (12.0% below list) — sets the bar for market timing.
• Cap rate 1.6% 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.
• Market conditions: Rents rising (+1.4%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 36% of the median local income ($86k/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.

Negotiation context

• It's been on market 621 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $31k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 56% of rent.
• Climate carrying-cost: severe flood risk; major wind risk, 49% 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 $174,240 (12.0% 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 621 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.32% ✓
• Cap rate: 1.62%
• Cash-on-cash: -16.68%
• DSCR: 0.26
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -57.6%
• Equity multiple: -0.60×
• Total profit: $-88,681
• Equity at exit: $29,522

10-year hold

• IRR: —
• Equity multiple: -1.86×
• Total profit: $-158,796
• Equity at exit: $17,119

Cash invested: $55,440 (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 11415

• Rents YoY: 1.4%
• Active inventory: 133
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,605 high
• Mortgage (P&I): −$1,038
• Tax est. 1.5%: −$248 /mo · $2,970/yr
• Insurance: −$82
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 3 same-building comps: −$1,460
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $-837

Break-even live

Break-even rent $3,664

Max offer price $76,861

Occupancy floor —

Sensitivity live

Price	-10% $-700	-5% $-769	+0% $-837	+5% $-906	+10% $-974
Rent	-10% $-1,043	-5% $-940	+0% $-837	+5% $-734	+10% $-631
Rate	-1.0pp $-737	-0.5pp $-787	base $-837	+0.5pp $-888	+1.0pp $-941

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7540 Austin St Unit 4HR Forest Hills, NY	1.0	1.0	841	$2,600	$3.09	0d	1	0.33mi
11624 Grosvenor Ln Unit 11D Richmond Hill, NY	2.0	2.0	950	$3,200	$3.37	25d	1	0.36mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	25d	1	0.37mi
123-40 83rd Ave Unit 8B Queens, NY	1.0	1.0	800	$2,450	$3.06	25d	1	0.38mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	25d	1	0.38mi
83-60 118th St Unit 4F Kew Gardens, NY	2.0	1.0	800	$2,500	$3.12	25d	1	0.45mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	25d	1	0.48mi
8383 118th St Kew Gardens, NY	1.0–2.0	1.0–1.5	900	$2,600	$2.89	25d	2	0.48mi
83-83 118th St Unit 2E Kew Gardens, NY	2.0	1.5	1000	$3,200	$3.20	15d	1	0.48mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	15d	1	0.50mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	13d	1	0.51mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	25d	1	0.51mi
8371 116th St Unit 7C Richmond Hill, NY	1.0	1.0	800	$2,600	$3.25	0d	1	0.52mi
11007 73rd Rd Forest Hills, NY	1.0	1.0	950	$1,800	$1.89	20d	1	0.52mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	6d	2	0.55mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	22d	2	0.59mi
150 Greenway Ter Forest Hills, NY	1.0–2.0	1.0	937	$3,825	$4.08	0d	2	0.59mi
124-14 Metropolitan Ave Unit 2F Kew Gardens, NY	2.0	1.0	850	$2,900	$3.41	25d	1	0.60mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	25d	1	0.61mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	12d	1	0.66mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	15d	1	0.68mi
108-25 72nd Ave Unit 6B Flushing, NY	2.0	1.0	800	$3,900	$4.88	0d	1	0.72mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	6d	2	0.72mi
135-26 78th Ave Unit 2FL Flushing, NY	2.0	1.0	900	$2,800	$3.11	3d	1	0.72mi
12401 Hillside Ave Richmond Hill, NY	2.0	1.0	800	$2,700	$3.38	0d	1	0.74mi
122-08 Hillside Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,500	$3.57	25d	1	0.75mi
123-16 Hillside Ave Unit 1st Fl Jamaica, NY	2.0	1.0	869	$2,700	$3.11	25d	1	0.76mi
13915 83rd Ave #717 Jamaica, NY	1.0	1.0	800	$2,400	$3.00	6d	1	0.77mi
12015 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	700	$2,200	$3.14	25d	1	0.83mi
13828 Queens Blvd Unit 7A Briarwood, NY	2.0	1.0	810	$3,600	$4.44	25d	1	0.88mi
138-28 Queens Blvd Unit 5G Briarwood, NY	1.0	1.0	650	$2,750	$4.23	25d	1	0.88mi
13828 Queens Blvd Jamaica, NY	1.0	1.0	640	$2,700	$4.22	20d	1	0.88mi
13828 Queens Blvd Unit 2E Briarwood, NY	1.0	1.0	700	$2,600	$3.71	9d	1	0.88mi
14112 78th Rd Unit 1G Flushing, NY	1.0	1.0	700	$2,200	$3.14	25d	1	0.88mi
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	25d	1	0.89mi
10620 70th Ave Unit 6B Forest Hills, NY	1.0	1.0	765	$3,600	$4.71	25d	1	0.92mi
141-35 Pershing Cres Unit 1B Jamaica, NY	1.0	1.5	1100	$2,800	$2.55	22d	1	0.93mi
14160 84th Rd Unit 2G Jamaica, NY	1.0	1.0	700	$2,200	$3.14	15d	1	0.94mi
84-03 Lander St Unit 2B Jamaica, NY	2.0	2.0	850	$3,250	$3.82	25d	1	0.96mi
13532 Kew Gardens Rd Richmond Hill, NY	2.0	1.0	1070	$2,500	$2.34	25d	1	1.00mi

HOA detail condo

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

Listing history 9 events

1. 2024-08-27
   status Pending 321-char remark

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

2. 2024-02-06
   status Pending

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

3. 2024-02-06
   status Pending 321-char remark

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

4. 2023-12-05
   price $198,000

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

5. 2023-12-05
   price $198,000 321-char remark

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

6. 2022-10-14
   price $219,000

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

7. 2022-10-14
   price $219,000 321-char remark

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

8. 2022-05-26
   listed $229,000 Active
9. 2022-05-23
   listed $229,000 Active 321-char remark

   Show marketing remark (321 chars)

   This bright & sunny 1 bedroom Co-Op is in a luxury building w/ 24 hr doorman & live-in Super. All utilities & amenities are included in the maintenance. Convenient to E/F trains, LIRR and multiple bus lines. A 20-minute commute to Manhattan. Walking distance to Forest Park. Bring your design ideas needs TLC.

ⓘ 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% 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: $31,255
• − Mortgage interest: −$11,091
• − Property taxes: −$2,970
• − Insurance: −$1,787
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − HOA: −$17,520
• − Depreciation: −$5,760
• Taxable loss: −$12,874
• Est. tax savings @ 24.0%: +$3,090
• After-tax cash flow: $-6,956/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): 21,154
• Household income: $86,394
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1615.0

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: White 43% Hispanic / Latino 25% Asian 20% Two or more races 11% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Scotch-Irish 6% Romanian 5% Scandinavian 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 18% Other Indo-European 12% Russian/Polish/Slavic 10%

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: ▼ -155.23%
• Current HPI: 184.7643
• Rent YoY: ▲ 1.35%
• 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

-13.5% since first listed

9 events — show timeline

• 2024-08-27 Pending — SIBORMLS
• 2024-02-06 Pending — BNYMLS
• 2024-02-06 Pending — SIBORMLS
• 2023-12-05 Price Changed $198,000 BNYMLS
• 2023-12-05 Price Changed $198,000 SIBORMLS
• 2022-10-14 Price Changed $219,000 BNYMLS
• 2022-10-14 Price Changed $219,000 SIBORMLS
• 2022-05-26 Listed $229,000 BNYMLS
• 2022-05-23 Listed $229,000 SIBORMLS