304 W 88th St Unit 1D · New York, NY 10024

$549,000

1 bd · 1.0 ba · 600 sqft · Condo · 379 Days on market

Built 1921 $1451/mo HOA · 27% 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).

• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0

Listing remarks

New Price! Spectacular Loft-like One-Bedroom with Soaring Ceilings and Historic Charm. This one-of-a-kind residence features dramatic double-height ceilings and a versatile sleeping loft, perfect for added living space, storage, or effortlessly hosting guests. Oversized north-facing windows bathe the home in natural light, accentuating the stunning exposed brick walls, soaring ceilings, and a wood-burning fireplace that brings together classic pre-war character and modern comfort. The thoughtfully designed kitchen boasts stainless steel appliances and granite countertops, while the spacious bedroom offers ample closet space and additional storage throughout. Located between two parks in

Key facts

• Exposed brick walls
• Decorative fireplace
• Sleeping loft

Tags

• DOUBLE-HEIGHT CEILINGS
• SLEEPING LOFT
• OVERSIZED NORTH-FACING WINDOWS
• EXPOSED BRICK WALLS
• DECORATIVE FIREPLACE
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Pets policy: building allows pets (details unspecified)
• HOA & community: Monthly association fee of $1,451

Exterior

• Home design: 5-story building; Entry level is 1; Zoned R8
• Construction: View available
• Exterior features: No notable exterior features listed; North exposure

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Fireplace (1)
• Interior features: Basement described as 'Other'; Has a view; Total of 4 rooms
• Laundry & utility: Laundry located in building basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $549k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $395k (28.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $529k (3.6% below list).
• Recommended offer: $395k (28.1% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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 (+8.2%/yr); 325 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 35% of the median local income ($182k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $33k of equity ($4k loan paydown + $29k appreciation (5.3% 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 ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 379 days — a 12% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $99k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent; built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• 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 $394,720 (28.1% 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 379 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.96% ✗
• Cap rate: 3.96%
• Cash-on-cash: -8.32%
• DSCR: 0.63
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.32% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.63×
• Total profit: $97,528
• Equity at exit: $321,719

10-year hold

• IRR: 13.4%
• Equity multiple: 3.72×
• Total profit: $418,075
• Equity at exit: $564,218

Cash invested: $153,720 (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 10024

• Home prices YoY: 2.2%
• Rents YoY: 8.2%
• Active inventory: 325
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $5,290 high
• Mortgage (P&I): −$2,879
• Tax est. 1.5%: −$686 /mo · $8,235/yr
• Insurance: −$229
• HOA: −$1,451
• Vacancy / Maint / Mgmt: −$1,111
• Net cashflow: $-1,066

Break-even live

Break-even rent $6,639

Max offer price $394,720

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 W 89th St #165 New York, NY	1.0	1.0	675	$7,520	$11.14	1d	2	0.19mi
212 W 91st St #416 New York, NY	1.0–2.0	1.0–2.0	825	$6,270	$7.60	6d	2	0.24mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,725	$5.73	2d	3	0.24mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,695	$5.69	3d	4	0.24mi
189 W 89th St New York, NY	2.0	1.0–2.0	716	$6,414	$8.95	1d	13	0.26mi
255 W 94th St #686 New York, NY	1.0–2.0	1.0–2.0	750	$6,300	$8.40	1d	2	0.38mi
266 W 96th St #2030 New York, NY	1.0	1.0	512	$5,800	$11.33	6d	1	0.44mi
43 W 85th St Unit 1470323P New York, NY	1.0	1.0	699	$6,466	$9.25	5d	1	0.48mi
45 W 81st St Unit 2011 New York, NY	1.0	1.0	450	$4,710	$10.47	24d	1	0.52mi
70 W 95th St New York, NY	1.0–4.0	1.0–2.0	1095	$9,999	$9.13	16d	1	0.57mi
241 W 75th St #773 New York, NY	1.0–2.0	1.0	750	$7,120	$9.49	3d	2	0.62mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	24d	2	0.64mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$4,800	$6.00	24d	2	0.66mi
317 W 74th St Unit 1021986P New York, NY	2.0	1.0–2.0	645	$7,940	$12.30	2d	2	0.66mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,906	$8.93	1d	31	0.67mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	21d	1	0.75mi
240 W 73rd St New York, NY	2.0	1.0–2.0	660	$6,430	$9.73	24d	4	0.75mi
234 W 73rd St Unit 1031180P New York, NY	1.0	1.0	441	$4,950	$11.22	7d	1	0.75mi
244 W 72nd St #2066 New York, NY	1.0	1.0	500	$5,440	$10.88	24d	2	0.80mi
112 W 72nd St Unit 3B New York, NY	2.0	1.0	750	$5,900	$7.87	24d	1	0.87mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$6,210	$7.30	1d	2	0.87mi
7650 River Rd Unit 921 North Bergen, NJ	—	1.0	600	$2,850	$4.75	24d	1	0.96mi
7650 River Rd Unit 935 North Bergen, NJ	—	1.0	600	$2,800	$4.67	24d	1	0.96mi
180 Riverside Blvd #846 New York, NY	1.0–2.0	1.0–2.0	827	$4,230	$5.11	24d	2	0.96mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$8,500	$15.21	21d	1	0.98mi
155 W 68th St Unit 18-10 New York, NY	—	1.0	545	$4,550	$8.35	24d	1	1.01mi
160 Riverside Blvd #832 New York, NY	1.0	1.0	634	$4,990	$7.87	20d	1	1.02mi
7606 River Rd Unit 01 North Bergen, NJ	—	1.0	600	$3,130	$5.22	24d	1	1.04mi
7601 River Rd North Bergen, NJ	3.0	1.0–3.0	1150	$4,303	$3.74	3d	16	1.08mi
7602 River Rd Unit 302 Guttenberg, NJ	—	1.0	600	$3,100	$5.17	24d	1	1.11mi
7602 River Rd Unit 00 Guttenberg, NJ	—	1.0	600	$2,995	$4.99	24d	1	1.11mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	24d	1	1.14mi
8200 Boulevard East North Bergen, NJ	3.0	1.0–3.5	1486	$3,400	$2.29	2d	4	1.16mi
101 W End Ave #950 New York, NY	1.0–2.0	1.0–2.0	814	$6,770	$8.32	1d	2	1.17mi
2 Main St Unit D-503 Edgewater, NJ	—	1.0	600	$2,200	$3.67	24d	1	1.17mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	1.21mi
8450 Boulevard E Unit 3B North Bergen, NJ	1.0	1.0	745	$2,400	$3.22	24d	1	1.22mi
8550 Boulevard E Unit 1D North Bergen, NJ	1.0	1.0	650	$2,200	$3.38	24d	1	1.24mi
952 5th Ave #998 New York, NY	1.0–2.0	1.0	800	$6,740	$8.43	1d	2	1.24mi
8600 Boulevard E Unit 5F North Bergen, NJ	1.0	1.0	750	$2,500	$3.33	24d	1	1.25mi

HOA detail condo

• Monthly dues: $1,451 · $17,412/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $549,000 Active 379 DOM
2. 2026-06-17
   days on market $549,000 Active 378 DOM
3. 2026-06-15
   days on market $549,000 Active 376 DOM
4. 2026-06-13
   days on market $549,000 Active 374 DOM
5. 2026-06-10
   days on market $549,000 Active 370 DOM
6. 2026-06-08
   days on market $549,000 Active 369 DOM
7. 2026-06-03
   pricedays on market $549,000 Active 364 DOM
8. 2026-06-01
   days on market $579,000 Active 362 DOM
9. 2026-05-31
   days on market $579,000 Active 361 DOM
10. 2026-03-23
    price $579,000
11. 2026-03-23
    status Active
12. 2026-01-05
    price $599,000
13. 2025-09-19
    price $600,000
14. 2025-05-03
    listed $648,000 Active
15. 2011-03-30
    price $330,000
16. 2011-01-04
    listed $329,000

ⓘ 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 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: $63,476
• − Mortgage interest: −$30,753
• − Property taxes: −$8,235
• − Insurance: −$2,745
• − Repairs & maintenance: −$5,078
• − Management: −$5,078
• − HOA: −$17,412
• − Depreciation: −$15,971
• Taxable loss: −$21,796
• Est. tax savings @ 24.0%: +$5,231
• After-tax cash flow: $-7,563/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): 63,115
• Household income: $181,560
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 3388.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 6% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 8% Romanian 5% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 79% English-only · Spanish 8% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.32%
• Current HPI: 251.6447
• Rent YoY: ▲ 8.15%
• 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

+76.0% since first listed

7 events — show timeline

• 2026-03-23 Price Changed $579,000 RLS at REBNY
• 2026-03-23 Relisted — RLS at REBNY
• 2026-01-05 Price Changed $599,000 RLS at REBNY
• 2025-09-19 Price Changed $600,000 RLS at REBNY
• 2025-05-03 Listed $648,000 RLS at REBNY
• 2011-03-30 Price Changed $330,000 RLS at REBNY
• 2011-01-04 Listed $329,000 RLS at REBNY