551 W 160th St Unit 5B · New York, NY 10032

$450,000

3 bd · 1.0 ba · 858 sqft · Condo · 432 Days on market

Built 1907 $564/mo HOA · 12% of rent

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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 +14.1/30.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to your Dream Home! This light and bright, beautifully renovated top-floor apartment offers approximately 858 SF legal 3-bedroom, currently configured as a spacious 2-bedroom, with triple exposure S/E/N for under $500k. Available fully furnished or vacant, this one has it all: Dishwasher, deep kitchen sink, and in-unit laundry! Photos are of the actual apartment, and are NOT STAGED. Bright and beautiful with windows throughout every room. Exposed brick and beams add to this apartment's charm and flair. The living and entertaining space offers a large, sunlit room with southern exposure and room to entertain. A formal dining area can easily seat 8-10 guests. The gut-renovated open

Key facts

• Multifunction room
• $564 HOA
• Built 1907

Tags

• NEW WASHER DRYER COMBO
• MULTIFUNCTION ROOM

Property features AI

Finance

• HOA & community: Monthly association fee of $564; Pets allowed (building permits pets)

Exterior

• Home design: 5-story building; Entry level: 6; Zoned R7-2
• Construction: 20 total units in the building
• Exterior features: Private outdoor space (under 60 sq ft); East, North and South exposures; Has a view

Interior

• Bathrooms: 1 full bathroom
• Interior features: 6 total rooms; Basement present (other type)
• Laundry & utility: In-unit laundry; Building laundry/other laundry options

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $65 ($782/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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 (+2.8%/yr); 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $4,733/mo this rent would consume 100% of the median local household income ($57k/yr) (locally 5464% 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 $38k of equity ($3k loan paydown + $34k appreciation (7.7% 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 (7.7% appreciation + 2.8% 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 ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 432 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $156k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 432 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 1907 — 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. 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: 1.05% ✓
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.66% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.42×
• Total profit: $179,457
• Equity at exit: $331,533

10-year hold

• IRR: 18.4%
• Equity multiple: 5.10×
• Total profit: $516,726
• Equity at exit: $648,463

Cash invested: $126,000 (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 10032

• Home prices YoY: 1.8%
• Rents YoY: 2.8%
• Active inventory: 79
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,733 medium
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• HOA: −$564
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $65

Break-even live

Break-even rent $4,650

Max offer price $450,000

Occupancy floor 94%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Pinehurst Ave Ph 7B New York, NY	2.0	2.0	1043	$5,200	$4.99	11d	1	0.96mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	4d	1	1.37mi
69 Main St Fort Lee, NJ	2.0	1.0–2.0	1126	$4,950	$4.39	24d	7	1.49mi

HOA detail condo

• Monthly dues: $564 · $6,768/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $450,000 Active 432 DOM
2. 2026-06-17
   price $450,000 Active 431 DOM
3. 2026-06-17
   days on market $499,999 Active 431 DOM
4. 2026-06-15
   days on market $499,999 Active 429 DOM
5. 2026-06-13
   days on market $499,999 Active 427 DOM
6. 2026-06-10
   days on market $499,999 Active 423 DOM
7. 2026-06-08
   days on market $499,999 Active 422 DOM
8. 2026-06-03
   days on market $499,999 Active 417 DOM
9. 2026-06-01
   days on market $499,999 Active 415 DOM
10. 2026-05-31
    days on market $499,999 Active 414 DOM
11. 2025-07-25
    price $499,999
12. 2025-07-09
    price $525,000
13. 2025-06-12
    price $549,000
14. 2025-04-26
    price $599,000
15. 2025-04-12
    listed $606,000 Active
16. 2022-11-20
    price $62,000
17. 2022-05-18
    price $345,000
18. 2022-03-28
    status Active
19. 2022-03-28
    price $350,000
20. 2021-09-08
    price $360,000
21. 2021-08-03
    price $379,000
22. 2021-03-03
    listed $369,000 Active
23. 2021-03-03
    listed $360,000 Active
24. 2015-07-10
    price $360,000

ⓘ 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 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $56,795
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,544
• − Management: −$4,544
• − HOA: −$6,768
• − Depreciation: −$13,091
• Taxable loss: −$6,358
• Est. tax savings @ 24.0%: +$1,526
• After-tax cash flow: $2,308/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): 55,610
• Household income: $56,829
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 5464.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 14% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 42%
• Common ancestry: Romanian 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 44% · Canada, China
• Languages at home: 38% English-only · Spanish 54% Other Indo-European 3% Chinese 2%

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: ▲ 7.66%
• Current HPI: 431.3199
• Rent YoY: ▲ 2.84%
• 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

+38.9% since first listed

14 events — show timeline

• 2025-07-25 Price Changed $499,999 RLS at REBNY
• 2025-07-09 Price Changed $525,000 RLS at REBNY
• 2025-06-12 Price Changed $549,000 RLS at REBNY
• 2025-04-26 Price Changed $599,000 RLS at REBNY
• 2025-04-12 Listed $606,000 RLS at REBNY
• 2022-11-20 Price Changed $62,000 RLS at REBNY
• 2022-05-18 Price Changed $345,000 RLS at REBNY
• 2022-03-28 Relisted — RLS at REBNY
• 2022-03-28 Price Changed $350,000 RLS at REBNY
• 2021-09-08 Price Changed $360,000 RLS at REBNY
• 2021-08-03 Price Changed $379,000 RLS at REBNY
• 2021-03-03 Listed $360,000 RLS at REBNY
• 2021-03-03 Listed $369,000 RLS at REBNY
• 2015-07-10 Price Changed $360,000 RLS at REBNY