303 E 37th St Unit 1F · New York, NY 10016

$559,000

1 bd · 1.0 ba · 1,000 sqft · Condo · 117 Days on market

Built 1941 ↓ 5% 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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Appreciation +6.3/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Oversized 1-bedroom apartment on the first floor of a well-maintained pre-war building. Offering approximately 1,000 sqft, this home provides exceptional space and flexibility, rare for a one-bedroom. The generous layout allows for the possibility of a convertible two-bedroom, offering great value and future potential. Upon entry, you are welcomed by a spacious entry hall that can easily accommodate a sitting area, workspace, or reading nook with a large closet. The extra-large eat-in kitchen offers ample space and a flexible layout that can be reimagined. Just beyond the kitchen, there is a dedicated dining area, followed by a generously sized living room with two large windows that bring

Key facts

• Built 1941
• Listed 117 days

Property features AI

Finance

• HOA & community: Building amenities: elevator(s), live-in superintendent, lounge, trash service; Association fee covers common area maintenance, exterior maintenance, heat, hot water, sewer, snow removal, trash, and water

Exterior

• Parking: No carport; Other parking features
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Six-story building; Entry level: 1; One level unit
• Construction: Brick construction; Block foundation
• Exterior features: Non-waterfront property; Living area listed as 1000 (source: other)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Rooms total: 5 (includes bedroom(s); see room details)
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Formal dining; High ceilings; Primary bathroom
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $559k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $559k).
• Recommended offer: $509k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (+5.4%/yr); 491 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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).
• At $6,294/mo this rent would consume 54% of the median local household income ($140k/yr) (locally 5269% 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 $19k of equity ($4k loan paydown + $15k appreciation (2.7% 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 (2.7% appreciation + 5.4% rent growth), your $157k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($509k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $508,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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: 1.13% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.7% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.93×
• Total profit: $144,893
• Equity at exit: $241,878

10-year hold

• IRR: 19.4%
• Equity multiple: 3.90×
• Total profit: $453,667
• Equity at exit: $365,559

Cash invested: $156,520 (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 10016

• Home prices YoY: 0.9%
• Rents YoY: 5.4%
• Active inventory: 491
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $6,294 high
• Mortgage (P&I): −$2,931
• Tax est. 1.5%: −$699 /mo · $8,385/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,322
• Net cashflow: $1,110

Break-even live

Break-even rent $4,890

Max offer price $559,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,496	-5% $1,303	+0% $1,110	+5% $916	+10% $723
Rent	-10% $612	-5% $861	+0% $1,110	+5% $1,358	+10% $1,607
Rate	-1.0pp $1,391	-0.5pp $1,252	base $1,110	+0.5pp $965	+1.0pp $817

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: $139,750
• Closing costs: $16,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	25d	18	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	21d	19	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,600	$5.09	7d	19	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$4,525	$4.11	3d	20	0.09mi
222 E 39th St New York, NY	4.0	1.0–2.0	1100	$5,784	$5.26	11d	19	0.09mi
685 1st Ave Unit 1321817P New York, NY	2.0	2.0	1367	$17,447	$12.76	22d	1	0.14mi
415 E 37th St Unit 36A New York, NY	2.0	2.0	1210	$8,700	$7.19	25d	1	0.17mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	25d	4	0.22mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	0d	52	0.25mi
230 E 32nd St New York, NY	2.0	1.0	800	$5,395	$6.74	16d	2	0.30mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	25d	2	0.31mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	8d	3	0.32mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	8d	3	0.33mi
279 E 44th St #894 New York, NY	1.0	1.0	950	$7,190	$7.57	7d	1	0.33mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	8d	2	0.36mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	2d	3	0.37mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	25d	2	0.41mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.51mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	4d	9	0.54mi
400 5th Ave Unit 41E New York, NY	2.0	2.5	1437	$12,750	$8.87	12d	1	0.56mi
400 5th Ave New York, NY	2.0	2.5	1302	$11,350	$8.71	5d	2	0.56mi
250 E 49th St Unit 4A New York, NY	1.0	1.0	802	$6,400	$7.98	25d	1	0.56mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	15d	1	0.56mi
121 Madison Ave New York, NY	2.0–4.0	1.0–2.0	1012	$7,295	$7.20	8d	3	0.56mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	8d	13	0.59mi
138 E 50th St New York, NY	2.0	2.0–2.5	1432	$13,650	$9.53	25d	1	0.63mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$5,335	$7.18	0d	36	0.63mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	4d	3	0.65mi
10 E 29th St New York, NY	1.0–3.0	1.0–3.0	1323	$6,283	$4.75	0d	4	0.66mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	3d	3	0.66mi
303 Park Ave #2321 New York, NY	1.0	1.5	808	$14,500	$17.95	8d	1	0.68mi
303 Park Ave #2203 New York, NY	1.0	1.5	796	$13,500	$16.96	8d	1	0.68mi
323 E 51st St Unit 1024750P New York, NY	2.0–4.0	2.0–3.5	2093	$21,945	$10.48	0d	3	0.68mi
241 5th Ave Unit 11A New York, NY	2.0	2.0	991	$8,995	$9.08	25d	1	0.72mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	25d	1	0.75mi
250 E 53rd St #403 New York, NY	1.0	1.0	823	$5,850	$7.11	25d	1	0.75mi
290 3rd Ave #279 New York, NY	1.0	1.0	607	$9,740	$16.03	4d	2	0.77mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	8d	2	0.78mi
50 W 30th St New York, NY	2.0	2.0	1327	$11,250	$8.47	25d	2	0.81mi
420 E 54th St New York, NY	3.0	1.0–2.5	1104	$7,261	$6.57	0d	14	0.81mi

HOA detail condo

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

Listing history 4 events

1. 2026-04-18
   status Pending
2. 2026-03-06
   price $559,000
3. 2025-12-22
   listed $588,000 Active
4. 2025-12-16
   historical $588,000

ⓘ 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 7/10 Severe 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,534
• − Mortgage interest: −$31,313
• − Property taxes: −$8,385
• − Insurance: −$2,795
• − Repairs & maintenance: −$6,043
• − Management: −$6,043
• − Depreciation: −$16,262
• Taxable income: $4,694
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $12,188/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): 52,971
• Household income: $140,381
• Rent vs Own: 74.9% rent · 25.1% own
• Severe rent burden: 5269.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Chinese 5%

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: ▲ 2.70%
• Current HPI: 313.0343
• Rent YoY: ▲ 5.42%
• 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

-4.9% since first listed

4 events — show timeline

• 2026-04-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $559,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-22 Listed $588,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Coming Soon $588,000 OneKey® MLS as Distributed by MLS Grid