512 W 156th St #41 · New York, NY 10032

$250,000

3 bd · 1.0 ba · 650 sqft · Condo · 23 Days on market

Built 1908 Fair condition

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Why this score? — see what drove the A- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0

Listing remarks

Welcome to this spacious 3-bedroom, 1-bath HDFC co-op in the heart of Washington Heights at 512 W 156th Street #41. Located on the 4th floor of a classic walk-up building, this approximately 650 sq ft home features three well-proportioned bedrooms, a living/dining area, long hallway, and kitchen with washer unit for added convenience. Recently updated bathroom with excellent potential to further customize. Pets allowed. Primary residence only. Subletting may be permitted on a case-by-case basis. Seller pays flip tax. Prime location near the 1 and A/C trains, offering easy access to Midtown and Downtown Manhattan, as well as nearby parks, restaurants, shops, and cultural landmarks. HDFC inco

Key facts

• Hdfc co-op
• Built 1908
• Listed 23 days

Tags

• HDFC CO-OP
• CLASSIC WALK-UP BUILDING
• KITCHEN WITH WASHER UNIT
• RECENTLY UPDATED BATHROOM
• PRIME LOCATION NEAR TRAINS
• EASY ACCESS TO MIDTOWN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electric service by Con-Edison; Public sewer; Public trash collection
• Home design: Stock cooperative; Entry level: 4; Three or more levels
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other heating; Wall/window cooling units
• Interior features: Other interior features
• Laundry & utility: Washer in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+2.8%/yr); 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,708/mo this rent would consume 78% 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 $21k of equity ($2k loan paydown + $19k 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,250 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1908 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.60%
• DSCR: 1.92
• GRM: 5.6

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: 35.5%
• Equity multiple: 3.48×
• Total profit: $173,588
• Equity at exit: $184,185

10-year hold

• IRR: 31.8%
• Equity multiple: 7.37×
• Total profit: $445,583
• Equity at exit: $360,257

Cash invested: $70,000 (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: 5.6×

Monthly cashflow live

• Estimated rent: $3,708 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$779
• Net cashflow: $1,202

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,375	-5% $1,288	+0% $1,202	+5% $1,115	+10% $1,029
Rent	-10% $909	-5% $1,055	+0% $1,202	+5% $1,348	+10% $1,495
Rate	-1.0pp $1,328	-0.5pp $1,265	base $1,202	+0.5pp $1,137	+1.0pp $1,071

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	26d	1	1.24mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $250,000 Active 23 DOM
2. 2026-06-18
   days on market $250,000 Active 20 DOM
3. 2026-06-17
   days on market $250,000 Active 19 DOM
4. 2026-06-16
   days on market $250,000 Active 18 DOM
5. 2026-06-15
   days on market $250,000 Active 17 DOM
6. 2026-06-13
   days on market $250,000 Active 15 DOM
7. 2026-06-09
   days on market $250,000 Active 11 DOM
8. 2026-06-08
   days on market $250,000 Active 10 DOM
9. 2026-06-08
   days on market $250,000 Active 9 DOM
10. 2026-06-04
    days on market $250,000 Active 6 DOM
11. 2026-06-03
    days on market $250,000 Active 5 DOM
12. 2026-06-02
    days on market $250,000 Active 4 DOM
13. 2026-06-01
    days on market $250,000 Active 3 DOM
14. 2026-05-31
    days on market $250,000 Active 2 DOM

ⓘ 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 · 14 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: $44,499
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,560
• − Management: −$3,560
• − Depreciation: −$7,273
• Taxable income: $11,102
• Est. tax owed @ 24.0%: −$2,665
• After-tax cash flow: $11,757/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 1-bath co-op in Washington Heights requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen appliances — Old and worn appliances need replacement.
• Major Kitchen cabinets — Cabinets show signs of wear and need replacement or repair.
• Moderate Exterior steps and railing — Peeling paint and wear on steps and railing need touch-up or replacement.
• Minor Interior walls — Some wear and tear on walls, which can be painted to improve appearance.
• Minor Flooring — Some wear on hardwood floors, which can be sanded and refinished.
• Unknown HVAC system — No visible signs of wear, but could be inspected for efficiency and maintenance needs.
• Minor Landscaping — Basic landscaping, which can be improved with some plants and landscaping features.

Value-add opportunities

• Resale Replace kitchen appliances — Modern appliances will attract more buyers and increase the home's appeal.
• Resale Paint interior walls — Fresh paint will improve the home's appearance and make it more appealing to potential buyers.
• Resale Sanding and refinish hardwood floors — Refinished floors will enhance the home's curb appeal and make it more attractive to potential buyers.
• Resale Replace worn kitchen cabinets — New cabinets will improve the home's functionality and make it more appealing to potential buyers.
• Resale Touch-up or replace exterior steps and railing — Improved exterior will make the home more attractive and increase its curb appeal.
• Resale Improve landscaping — Improved landscaping will make the home more attractive and increase its curb appeal.
• Rental Inspect and replace HVAC system — A well-maintained HVAC system will attract more renters and increase the home's rental value.
• Rental Replace worn kitchen appliances — Modern appliances will attract more renters and increase the home's rental value.
• Rental Paint interior walls — Fresh paint will improve the home's appearance and make it more appealing to potential renters.
• Rental Sanding and refinish hardwood floors — Refinished floors will enhance the home's curb appeal and make it more attractive to potential renters.
• Rental Replace worn kitchen cabinets — New cabinets will improve the home's functionality and make it more appealing to potential renters.
• Rental Touch-up or replace exterior steps and railing — Improved exterior will make the home more attractive and increase its rental value.
• Rental Improve landscaping — Improved landscaping will make the home more attractive and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Old and worn appliances need replacement.	Major	$15,000–50,000
Kitchen cabinets · Cabinets show signs of wear and need replacement or repair.	Major	$15,000–50,000
Exterior steps and railing · Peeling paint and wear on steps and railing need touch-up or replacement.	Moderate	$3,000–15,000
Interior walls · Some wear and tear on walls, which can be painted to improve appearance.	Minor	$500–3,000
Flooring · Some wear on hardwood floors, which can be sanded and refinished.	Minor	$500–3,000
HVAC system · No visible signs of wear, but could be inspected for efficiency and maintenance needs.	Unknown	$500–3,000
Landscaping · Basic landscaping, which can be improved with some plants and landscaping features.	Minor	$500–3,000
Total estimated repair cost · 7 items		$35,000–127,000

Value-add ROI direction

• Resale Replace kitchen appliances — Modern appliances will attract more buyers and increase the home's appeal. ↑
• Resale Paint interior walls — Fresh paint will improve the home's appearance and make it more appealing to potential buyers. ↑
• Resale Sanding and refinish hardwood floors — Refinished floors will enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale Replace worn kitchen cabinets — New cabinets will improve the home's functionality and make it more appealing to potential buyers. ↑
• Resale Touch-up or replace exterior steps and railing — Improved exterior will make the home more attractive and increase its curb appeal. ↑
• Resale Improve landscaping — Improved landscaping will make the home more attractive and increase its curb appeal. ↑
• Rental Inspect and replace HVAC system — A well-maintained HVAC system will attract more renters and increase the home's rental value. ↑
• Rental Replace worn kitchen appliances — Modern appliances will attract more renters and increase the home's rental value. ↑
• Rental Paint interior walls — Fresh paint will improve the home's appearance and make it more appealing to potential renters. ↑
• Rental Sanding and refinish hardwood floors — Refinished floors will enhance the home's curb appeal and make it more attractive to potential renters. ↑
• Rental Replace worn kitchen cabinets — New cabinets will improve the home's functionality and make it more appealing to potential renters. ↑
• Rental Touch-up or replace exterior steps and railing — Improved exterior will make the home more attractive and increase its rental value. ↑
• Rental Improve landscaping — Improved landscaping will make the home more attractive and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-29 Listed $250,000 OneKey® MLS as Distributed by MLS Grid