225 E 57th St Unit 1L · New York, NY 10022

$449,000

1 bd · 1.0 ba · 875 sqft · Condo · 273 Days on market

Built 1964 ↓ 25% since listing

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Why this score? — see what drove the B 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 +26.8/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

The fabulous Harridge House, built in 1963 with 124 apartments in the best NYC location, is mix of empty nesters and families with children, This spacious one bedroom co-op unit on the first floor, is close to all. .. parks, dining, shopping, shows. Take the bridge for a quick day trip escape. Renovated kitchen and bath, lots of light, hardwood floors, laundry in building, doorman, beautiful lobby, roof garden, cats allowed.

Key facts

• Roof garden
• Laundry in building
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• RENOVATED BATH
• LAUNDRY IN BUILDING
• DOORMAN
• BEAUTIFUL LOBBY
• ROOF GARDEN

Property features AI

Finance

• Other: Living area listed as 875 (source: other); Community features: other
• HOA & community: Association managed by Wallack Management; Association amenities include doorman, roof deck, snow removal, trash service, and other building services

Exterior

• Parking: No carport
• Security: Doorman/door person
• Utilities: Con Edison electric service; Public sewer; Trash collection (public)
• Home design: Stock cooperative; Actual property condition; First floor location; High-rise building (20 stories total)
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Cooktop; Oven; Range; Dishwasher; Refrigerator
• Bedrooms: Located on the first floor
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First floor bedroom; First floor full bathroom; Elevator access; Cats allowed
• Laundry & utility: Utilities connected: electricity, natural gas, water, sewer, phone, cable

🏢 Co-op / cooperative unit. The $449,000 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 1-bed/1.0-bath condo listed at $449k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $395k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 $25k of equity ($3k loan paydown + $22k 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.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 273 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $395,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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. 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.
9. 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.
10. 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: 1.22% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.80%
• DSCR: 1.53
• GRM: 6.8

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: 25.9%
• Equity multiple: 2.67×
• Total profit: $210,490
• Equity at exit: $253,545

10-year hold

• IRR: 27.4%
• Equity multiple: 6.08×
• Total profit: $638,530
• Equity at exit: $436,845

Cash invested: $125,720 (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: 6.8×

Monthly cashflow live

• Estimated rent: $5,493 high
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,153
• Net cashflow: $1,236

Break-even live

Break-even rent $3,928

Max offer price $449,000

Occupancy floor 72%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 E 57th St Unit 14C New York, NY	1.0	1.0	780	$4,750	$6.09	24d	1	0.01mi
300 E 57th St #1714 New York, NY	1.0	1.0	820	$5,800	$7.07	20d	1	0.09mi
235 E 55th St Unit 36B New York, NY	1.0	1.0	650	$4,800	$7.38	24d	1	0.11mi
329 E 58th St #807 New York, NY	2.0	1.0	650	$5,860	$9.02	7d	1	0.13mi
150 E 57th St New York, NY	5.0	1.0–7.5	2750	$10,504	$3.82	1d	5	0.14mi
252 E 61st St #638 New York, NY	1.0	1.0	666	$5,530	$8.30	1d	2	0.17mi
400 E 57th St #2106 New York, NY	2.0	1.0–2.0	903	$6,610	$7.32	3d	3	0.22mi
117 E 57th St New York, NY	1.0	1.0	732	$5,975	$8.16	4d	2	0.23mi
250 E 53rd St #403 New York, NY	1.0	1.0	823	$5,850	$7.11	24d	1	0.24mi
220 E 63rd St #567 New York, NY	1.0	1.0	800	$6,460	$8.07	20d	1	0.26mi
123 E 54th St #1251 New York, NY	1.0–2.0	1.0	600	$5,210	$8.68	1d	2	0.27mi
412 E 55th St New York, NY	1.0	1.0	767	$5,250	$6.84	24d	1	0.29mi
301 E 63rd St New York, NY	2.0	1.0	975	$6,650	$6.82	4d	1	0.29mi
225 E 63rd St #1675 New York, NY	1.0	1.0	627	$5,230	$8.34	24d	2	0.29mi
333 E 52nd St Unit 2177 New York, NY	2.0	1.0	600	$4,900	$8.17	22d	1	0.30mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	24d	1	0.30mi
420 E 54th St New York, NY	3.0	1.0–2.5	1104	$7,261	$6.57	1d	14	0.33mi
340 E 52nd St #1527 New York, NY	1.0	1.0	575	$8,080	$14.05	1d	2	0.33mi
403 E 62nd St Unit 14C New York, NY	1.0	1.0	650	$4,900	$7.54	22d	1	0.33mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	2d	3	0.34mi
220 E 65th St New York, NY	1.0	1.0	700	$5,950	$8.50	2d	1	0.34mi
599 E 56th St Unit 1817 New York, NY	1.0	1.0	625	$4,850	$7.76	24d	1	0.36mi
940 1st Ave Unit 2040 New York, NY	2.0	1.5	600	$7,500	$12.50	2d	1	0.36mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	3d	3	0.36mi
304 E 65th St Unit 11C New York, NY	1.0	1.0	770	$5,450	$7.08	15d	1	0.37mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$4,840	$4.57	3d	3	0.41mi
250 E 49th St Unit 4A New York, NY	1.0	1.0	802	$6,400	$7.98	24d	1	0.43mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	15d	1	0.44mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	3d	2	0.46mi
303 Park Ave #2203 New York, NY	1.0	1.5	796	$13,500	$16.96	7d	1	0.47mi
303 Park Ave #2321 New York, NY	1.0	1.5	808	$14,500	$17.95	7d	1	0.47mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	3d	9	0.49mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	20d	1	0.51mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.53mi
135 E 47th St New York, NY	1.0	1.0	572	$6,600	$11.53	6d	1	0.53mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,550	$6.84	1d	2	0.53mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	1d	2	0.57mi
300 E 69th St Unit 1294661P New York, NY	2.0	1.0	839	$6,870	$8.19	20d	1	0.57mi
40 W 55th St Unit 5D New York, NY	2.0	2.5	1070	$6,500	$6.07	24d	1	0.58mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	24d	2	0.59mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-15
   days on market $449,000 Active 273 DOM
2. 2026-06-13
   days on market $449,000 Active 271 DOM
3. 2026-06-10
   days on market $449,000 Active 267 DOM
4. 2026-06-08
   days on market $449,000 Active 266 DOM
5. 2026-06-03
   days on market $449,000 Active 261 DOM
6. 2026-06-01
   days on market $449,000 Active 259 DOM
7. 2026-05-31
   days on market $449,000 Active 258 DOM
8. 2026-03-26
   price $449,000
9. 2025-09-15
   listed $499,000 Active
10. 2025-08-16
    historical
11. 2025-07-16
    price $500,000
12. 2025-05-20
    price $540,000
13. 2025-02-21
    price $569,000
14. 2025-02-20
    listed $595,000 Active
15. 2024-12-02
    listed $595,000 Active

ⓘ 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: $65,911
• − Mortgage interest: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,273
• − Management: −$5,273
• − Depreciation: −$13,062
• Taxable income: $8,173
• Est. tax owed @ 24.0%: −$1,961
• After-tax cash flow: $12,873/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

-24.5% since first listed

8 events — show timeline

• 2026-03-26 Price Changed $449,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-15 Listed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-16 Price Changed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-20 Price Changed $540,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-21 Price Changed $569,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-20 Listed $595,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-02 Listed $595,000 OneKey® MLS as Distributed by MLS Grid