245 E 54th St Unit 3H · New York, NY 10022

$650,000

1 bd · 1.0 ba · 700 sqft · Condo · 24 Days on market

Built 1977 $1325/mo HOA · 24% 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
• Appreciation +7.5/10.0
• Cash flow +5.2/30.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Welcome to this elegant east-facing one-bedroom residence at The Brevard, filled with beautiful natural sunlight and a warm, inviting ambiance. Thoughtfully designed for both comfort and functionality, this home offers a spacious layout with tasteful modern updates throughout. The open kitchen features sleek stainless steel appliances, ample cabinetry, and generous counter space, seamlessly flowing into the living area for easy everyday living and entertaining. Updated flooring adds warmth and continuity throughout the apartment, while the beautifully modernized bathroom offers clean contemporary finishes and a polished feel. Large windows enhance the airy atmosphere and bring in abundant

Key facts

• Ample cabinetry
• Modernized bathroom
• Updated flooring

Tags

• OPEN KITCHEN
• STAINLESS STEEL APPLIANCES
• AMPLE CABINETRY
• GENEROUS COUNTER SPACE
• UPDATED FLOORING
• MODERNIZED BATHROOM

Property features AI

Finance

• Other: Building has 444 total units; Pets allowed in building (restrictions apply)
• HOA & community: Monthly association fee

Exterior

• Parking: Has garage
• Home design: Located in a 30-story building; Building name: The Brevard; Zoning: C1-9
• Exterior features: No exterior features listed

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 3 rooms (includes living areas and bedroom(s)); Entry level: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling
• Interior features: Elevator access in the building; East-facing unit; Has a view
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $650k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $439k (32.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $551k (15.2% below list).
• Recommended offer: $439k (32.5% below list) — sets the bar for cash-flow.
• Cap rate 3.6% 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 (+8.7%/yr); 715 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• This rent runs 38% of the median local income ($172k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $37k of equity ($4k loan paydown + $32k appreciation (5.0% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $438,581 (32.5% 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 1977 — 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: 0.85% ✗
• Cap rate: 3.60%
• Cash-on-cash: -9.63%
• DSCR: 0.57
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.97% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.47×
• Total profit: $85,576
• Equity at exit: $367,048

10-year hold

• IRR: 11.4%
• Equity multiple: 3.26×
• Total profit: $411,484
• Equity at exit: $632,403

Cash invested: $182,000 (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 10022

• Home prices YoY: 2.4%
• Rents YoY: 8.7%
• Active inventory: 715
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,514 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$1,325
• Vacancy / Maint / Mgmt: −$1,158
• Net cashflow: $-1,461

Break-even live

Break-even rent $7,363

Max offer price $438,581

Occupancy floor —

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 E 55th St Unit 36B New York, NY	1.0	1.0	650	$4,800	$7.38	24d	1	0.04mi
333 E 52nd St Unit 2177 New York, NY	2.0	1.0	600	$4,900	$8.17	22d	1	0.16mi
150 E 57th St New York, NY	5.0	1.0–7.5	2750	$10,504	$3.82	1d	5	0.19mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	24d	1	0.19mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	2d	3	0.19mi
340 E 52nd St #1527 New York, NY	1.0	1.0	575	$8,080	$14.05	1d	2	0.20mi
329 E 58th St #807 New York, NY	2.0	1.0	650	$5,860	$9.02	7d	1	0.22mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	3d	3	0.22mi
400 E 57th St #2106 New York, NY	2.0	1.0–2.0	903	$6,610	$7.32	3d	3	0.23mi
227 E 59th St #635 New York, NY	2.0	1.0	500	$6,240	$12.48	16d	2	0.24mi
940 1st Ave Unit 2040 New York, NY	2.0	1.5	600	$7,500	$12.50	2d	1	0.24mi
123 E 54th St #1251 New York, NY	1.0–2.0	1.0	600	$5,210	$8.68	1d	2	0.24mi
420 E 54th St New York, NY	3.0	1.0–2.5	1104	$7,261	$6.57	1d	14	0.24mi
117 E 57th St New York, NY	1.0	1.0	732	$5,975	$8.16	5d	2	0.29mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	15d	1	0.29mi
252 E 61st St #638 New York, NY	1.0	1.0	666	$5,530	$8.30	1d	2	0.31mi
599 E 56th St Unit 1817 New York, NY	1.0	1.0	625	$4,850	$7.76	24d	1	0.33mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	3d	9	0.35mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	20d	1	0.37mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.40mi
135 E 47th St New York, NY	1.0	1.0	572	$6,600	$11.53	6d	1	0.40mi
151 E 62nd St Unit 1021834P New York, NY	1.0	1.0	398	$6,812	$17.12	7d	1	0.42mi
149 E 62nd St Unit 1021871P New York, NY	—	1.0	398	$5,344	$13.43	7d	1	0.42mi
149 E 62nd St Unit 1021838P New York, NY	—	1.0	398	$4,518	$11.35	2d	1	0.42mi
403 E 62nd St Unit 14C New York, NY	1.0	1.0	650	$4,900	$7.54	22d	1	0.44mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	24d	2	0.44mi
225 E 63rd St #1675 New York, NY	1.0	1.0	627	$5,230	$8.34	24d	2	0.44mi
330 E 46th St #1794 New York, NY	1.0	1.0	489	$4,990	$10.19	24d	2	0.45mi
220 E 65th St New York, NY	1.0	1.0	700	$5,950	$8.50	2d	1	0.49mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	24d	2	0.54mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,550	$6.84	1d	2	0.54mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	3d	2	0.59mi
18 W 48th St Unit 670 New York, NY	1.0	1.0	631	$7,730	$12.25	7d	1	0.64mi
77 W 55th St Unit 15H New York, NY	1.0	1.0	750	$4,900	$6.53	22d	1	0.67mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	1d	2	0.71mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	2d	2	0.76mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	24d	3	0.76mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	7d	2	0.81mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$9,250	$5.97	7d	9	0.83mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$7,500	$4.84	7d	10	0.83mi

HOA detail condo

• Monthly dues: $1,325 · $15,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $650,000 Active 24 DOM
2. 2026-06-17
   days on market $650,000 Active 23 DOM
3. 2026-06-16
   days on market $650,000 Active 22 DOM
4. 2026-06-15
   days on market $650,000 Active 21 DOM
5. 2026-06-13
   days on market $650,000 Active 19 DOM
6. 2026-06-10
   days on market $650,000 Active 15 DOM
7. 2026-06-08
   days on market $650,000 Active 14 DOM
8. 2026-06-08
   days on market $650,000 Active 13 DOM
9. 2026-06-04
   days on market $650,000 Active 10 DOM
10. 2026-06-03
    days on market $650,000 Active 9 DOM
11. 2026-06-02
    days on market $650,000 Active 8 DOM
12. 2026-06-01
    days on market $650,000 Active 7 DOM
13. 2026-05-31
    days on market $650,000 Active 6 DOM
14. 2026-05-25
    listed $650,000 Active
15. 2025-05-23
    historical $3,700
16. 2025-03-13
    listed $3,700
17. 2024-04-25
    historical $3,700
18. 2024-04-12
    listed $3,700
19. 2012-07-11
    listed $495,000
20. 2012-07-11
    listed $466,333

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

Taxation est. · year 1

• Rental income: $66,166
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,293
• − Management: −$5,293
• − HOA: −$15,900
• − Depreciation: −$18,909
• Taxable loss: −$28,640
• Est. tax savings @ 24.0%: +$6,874
• After-tax cash flow: $-10,659/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: New York County · 1,599,927 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 34,049
• Household income: $172,026
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 2256.0

Population outlook (New York County) Hauer SSP2

• Today (2025): 1,825,725 people
• By 2030: 1,904,611 · +4.3%
• By 2040: 2,052,719 · +12.4%
• By 2050: 2,206,601 · +20.9%
• By 2075: 2,509,427 · +37.4%
• By 2100: 2,702,933 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 12% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 6% Other Indo-European 6% Chinese 3%

Political lean MEDSL · New York

• 2024 margin: Solid D (+64.8) · D 82.4% · R 17.6%
• 2008→2024 swing: -7.4pp toward R · 2008: 72.2pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+74.5 2016: D+77.2 2012: D+69.6 2008: D+72.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.97%
• Current HPI: 215.7225
• Rent YoY: ▲ 8.69%
• 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

+31.3% since first listed

7 events — show timeline

• 2026-05-25 Listed $650,000 RLS at REBNY
• 2025-05-23 Rental Removed $3,700 REBNY
• 2025-03-13 Listed for Rent $3,700 REBNY
• 2024-04-25 Rental Removed $3,700 REBNY
• 2024-04-12 Listed for Rent $3,700 REBNY
• 2012-07-11 Listed $466,333 RLS at REBNY
• 2012-07-11 Listed $495,000 RLS at REBNY