303 E 57th St Unit 11E · New York, NY 10022

$399,000

1 bd · 1.5 ba · 1,100 sqft · Condo · 74 Days on market

Built 1968 $4126/mo HOA · 66% of rent ↓ 28% since listing

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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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks

Welcome to your new home at The Excelsior, an iconic building on Billionaire's Row. Residence 11E offers approximately 1,100 square feet of well-planned living space in a full-service cooperative. This oversized one-bedroom, one-and-a-half-bath home features a large living and dining area with excellent natural light and open city views. A private balcony extends the living space outdoors, providing a comfortable setting for relaxing or entertaining while taking in the skyline. The layout includes a generously scaled bedroom that easily accommodates a king-size bed and additional furniture. There is extensive closet space throughout the apartment, including multiple deep closets that su

Key facts

• $4,126 HOA
• Garage
• Built 1968

Property features AI

Finance

• Other: Has land lease (expires 2064-01-01); Pets allowed (small pets up to 15 lbs upon approval)
• Financial info:
• HOA & community: Monthly association fee; Building amenities include bike storage, concierge, elevators, sauna and spa/hot tub; Community features include sauna

Exterior

• Parking: Has garage
• Security: Concierge
• Utilities:
• Home design: Condominium unit in The Excelsior; Located on entry level 11; 47-story building
• Construction:
• Exterior features: Private balcony; Building roof deck; Private outdoor space under 60 sqft; West exposure; Has view

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling:
• Interior features: Total of 4 rooms; Basement: Other; Building allows washer/dryer (in-unit washer/dryer allowed)
• Laundry & utility: Building laundry features; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (70.8% below list).
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $117k (70.8% below list) — sets the bar for cash-flow.
• Cap rate 0.4% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 fast (+8.7%/yr); 715 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).
• This rent runs 44% 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 $23k of equity ($3k loan paydown + $20k 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.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 66% of rent.
• 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 $116,678 (70.8% 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 74 days. Have you received any prior offers? Is the seller open to a 71% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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: 1.56% ✓
• Cap rate: 0.43%
• Cash-on-cash: -20.96%
• DSCR: 0.07
• GRM: 5.3

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: 0.3%
• Equity multiple: 1.02×
• Total profit: $2,575
• Equity at exit: $225,311

10-year hold

• IRR: 8.3%
• Equity multiple: 2.79×
• Total profit: $199,840
• Equity at exit: $388,198

Cash invested: $111,720 (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: 5.3×

Monthly cashflow live

• Estimated rent: $6,243 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$4,126
• Vacancy / Maint / Mgmt: −$1,311
• Net cashflow: $-1,951

Break-even live

Break-even rent $8,713

Max offer price $116,678

Occupancy floor —

Sensitivity live

Price	-10% $-1,675	-5% $-1,813	+0% $-1,951	+5% $-2,089	+10% $-2,227
Rent	-10% $-2,444	-5% $-2,198	+0% $-1,951	+5% $-1,704	+10% $-1,458
Rate	-1.0pp $-1,750	-0.5pp $-1,850	base $-1,951	+0.5pp $-2,054	+1.0pp $-2,160

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: $99,750
• Closing costs: $11,970
• 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	26d	1	0.06mi
300 E 57th St #1714 New York, NY	1.0	1.0	820	$5,800	$7.07	22d	1	0.07mi
252 E 61st St #638 New York, NY	1.0	1.0	666	$5,530	$8.30	3d	2	0.14mi
400 E 57th St #2106 New York, NY	2.0	1.0–2.0	903	$6,610	$7.32	5d	3	0.18mi
400 E 57th St New York, NY	1.0–2.0	1.0–2.0	1436	$4,950	$3.45	26d	3	0.18mi
150 E 57th St New York, NY	5.0	1.0–7.5	2750	$10,504	$3.82	3d	5	0.19mi
220 E 63rd St #567 New York, NY	1.0	1.0	800	$6,460	$8.07	22d	1	0.24mi
250 E 53rd St #403 New York, NY	1.0	1.0	823	$5,850	$7.11	26d	1	0.26mi
301 E 63rd St New York, NY	2.0	1.0	975	$6,650	$6.82	6d	1	0.26mi
412 E 55th St New York, NY	1.0	1.0	767	$5,250	$6.84	26d	1	0.26mi
420 E 61st St Unit 1330815P New York, NY	2.0–3.0	2.0–3.0	1490	$11,424	$7.67	0d	2	0.27mi
117 E 57th St New York, NY	1.0	1.0	732	$5,975	$8.16	6d	2	0.27mi
225 E 63rd St #1675 New York, NY	1.0	1.0	627	$5,230	$8.34	26d	2	0.27mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	26d	1	0.30mi
420 E 54th St New York, NY	3.0	1.0–2.5	1018	$7,261	$7.13	0d	12	0.31mi
220 E 65th St New York, NY	1.0	1.0	700	$5,950	$8.50	3d	1	0.32mi
304 E 65th St Unit 11C New York, NY	1.0	1.0	770	$5,450	$7.08	16d	1	0.34mi
323 E 51st St Unit 1024750P New York, NY	2.0–4.0	2.0–3.5	2093	$21,945	$10.48	0d	3	0.34mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	4d	3	0.36mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$4,840	$4.57	5d	3	0.37mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	5d	3	0.37mi
40-44 E 61st St Unit 15B New York, NY	2.0	2.0	1200	$15,000	$12.50	16d	1	0.39mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	5d	2	0.42mi
138 E 50th St New York, NY	2.0	2.0–2.5	1432	$13,650	$9.53	26d	1	0.45mi
250 E 49th St Unit 4A New York, NY	1.0	1.0	802	$6,400	$7.98	26d	1	0.45mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	16d	1	0.47mi
303 Park Ave #2203 New York, NY	1.0	1.5	796	$13,500	$16.96	9d	1	0.52mi
303 Park Ave #2321 New York, NY	1.0	1.5	808	$14,500	$17.95	9d	1	0.52mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	5d	9	0.53mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	3d	2	0.54mi
300 E 69th St Unit 1294661P New York, NY	2.0	1.0	839	$6,870	$8.19	21d	1	0.54mi
885 Main St #705 New York, NY	2.0	2.0	1100	$4,800	$4.36	0d	1	0.55mi
885 Main St Unit 6B New York, NY	2.0	2.0	950	$5,300	$5.58	0d	1	0.55mi
411 E 68th St Unit 1021976P New York, NY	2.0	1.0	893	$6,792	$7.61	23d	1	0.55mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	23d	1	0.57mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,210	$6.57	0d	2	0.58mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	4d	2	0.59mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	26d	3	0.59mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	26d	2	0.61mi
40 W 55th St Unit 5D New York, NY	2.0	2.5	1070	$6,500	$6.07	26d	1	0.63mi

HOA detail condo

• Monthly dues: $4,126 · $49,512/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $399,000 Active 74 DOM
2. 2026-06-18
   days on market $399,000 Active 71 DOM
3. 2026-06-17
   days on market $399,000 Active 70 DOM
4. 2026-06-15
   days on market $399,000 Active 68 DOM
5. 2026-06-13
   days on market $399,000 Active 66 DOM
6. 2026-06-10
   days on market $399,000 Active 62 DOM
7. 2026-06-08
   days on market $399,000 Active 61 DOM
8. 2026-06-08
   days on market $399,000 Active 60 DOM
9. 2026-06-04
   days on market $399,000 Active 57 DOM
10. 2026-06-03
    days on market $399,000 Active 56 DOM
11. 2026-06-01
    days on market $399,000 Active 54 DOM
12. 2026-05-31
    days on market $399,000 Active 53 DOM
13. 2026-04-08
    listed $399,000 Active
14. 2016-02-23
    listed $555,000
15. 2016-02-23
    listed $555,000

ⓘ 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: $74,922
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,994
• − Management: −$5,994
• − HOA: −$49,512
• − Depreciation: −$11,607
• Taxable loss: −$28,515
• Est. tax savings @ 24.0%: +$6,844
• After-tax cash flow: $-16,569/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

-28.1% since first listed

3 events — show timeline

• 2026-04-08 Listed $399,000 RLS at REBNY
• 2016-02-23 Listed $555,000 RLS at REBNY
• 2016-02-23 Listed $555,000 RLS at REBNY