88 Morningside Dr Unit 12D · New York, NY 10025

$675,000

1 bd · 1.0 ba · 780 sqft · Condo · 86 Days on market

Built 1925 Good condition $865/sqft · 17% below area Est $810k · 17% under $2141/mo HOA · 42% of rent

---

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).

• ARV discount +15.0/15.0
• Appreciation +7.4/10.0
• Schools +5.2/10.0
• Rent growth +4.1/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Cash flow +1.2/30.0
• DSCR +0.0/10.0

Listing remarks

Sky-High Harlem Living with Unmatched Views Experience the pinnacle of Harlem living in apartment 12D, the first top-floor 1-bedroom unit available since the building's debut. This specialty loft-style home boasts soaring ceilings, an expansive open floor plan, and panoramic vistas of Morningside Park and Midtown Manhattan. Sunlight floods the space from eastern and southern exposures, creating a bright, airy atmosphere from sunrise to sunset. The generously proportioned bedroom easily accommodates a king-sized bed with room for nightstands on both sides, along with its own breathtaking views of the park and city skyline.

Key facts

• Panoramic vistas
• Media lounge
• Soaring ceilings

Tags

• PANORAMIC VISTAS
• SOARING CEILINGS
• EXPANSIVE OPEN FLOOR PLAN
• JAW-DROPPING ROOFTOP DECK
• MEDIA LOUNGE
• 24 7 RESIDENT GYM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $675k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-3k ($-33k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (58.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $516k (23.6% below list).
• Recommended offer: $280k (58.6% below list) — sets the bar for cash-flow.
• Cap rate 1.4% vs local median 2.7% 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 (+6.4%/yr); 371 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 43d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,156/mo this rent would consume 57% of the median local household income ($109k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($5k loan paydown + $32k appreciation (4.7% 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 ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $279,568 (58.6% 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 86 days. Have you received any prior offers? Is the seller open to a 59% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — 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: 0.76% ✗
• Cap rate: 1.43%
• Cash-on-cash: -17.35%
• DSCR: 0.23
• GRM: 10.9

CMA / ARV

• ARV (median comp): $810,245
• List price: $675,000
• Delta: -16.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8800 BOULEVARD Unit 4B	1.43mi	1/1.0	773 (-1%)	2mo	$345,000	$446	62
8450 BLVD E Unit 4F	1.47mi	1/1.0	800 (+3%)	2mo	$168,000	$210	59
410 Central Park W Unit 3C	0.46mi	1/1.0	689 (-12%)	4mo	$630,000	$914	56
9060 PALISADE Ave #610	1.49mi	1/1.0	815 (+4%)	4mo	$372,000	$456	54
402 CHASE Ct #402	1.19mi	1/1.0	742 (-5%)	3mo	$400,000	$539	54
8550 BLVD E Unit 1B	1.44mi	1/1.0	745 (-4%)	5mo	$255,000	$342	54
168 E 111th St Unit 3D	1.35mi	2/2.0 (+1)	796 (+2%)	3mo	$905,000	$1,137	50
8450 BLVD E Unit 2C	1.47mi	1/1.0	690 (-12%)	0mo	$200,000	$290	46
2373 Broadway #1128	0.87mi	1/1.0	700 (-10%)	5mo	$855,000	$1,221	44
60 W 129th St #409	1.49mi	2/2.0 (+1)	843 (+8%)	2mo	$835,000	$991	41
168 E 111th St Unit 3C	1.35mi	1/1.0	620 (-20%)	0mo	$648,000	$1,045	40
7706 MARINE Rd #125	1.44mi	1/1.0	636 (-18%)	4mo	$475,000	$747	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.73% appreciation · 6.4% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-9,084
• Equity at exit: $371,616

10-year hold

• IRR: 4.7%
• Equity multiple: 1.91×
• Total profit: $171,814
• Equity at exit: $632,525

Cash invested: $189,000 (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 →

Active competition Active MLS

• For sale now: 11 active
• Median asking: $1,095,000 ($1310/sqft)
• Median days on market: 58 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -20.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 10025

• Home prices YoY: 1.7%
• Rents YoY: 6.4%
• Active inventory: 371
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $5,156 high
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$2,141
• Vacancy / Maint / Mgmt: −$1,083
• Net cashflow: $-2,733

Break-even live

Break-even rent $8,615

Max offer price $279,568

Occupancy floor —

Sensitivity live

Price	-10% $-2,266	-5% $-2,500	+0% $-2,733	+5% $-2,966	+10% $-3,199
Rent	-10% $-3,140	-5% $-2,936	+0% $-2,733	+5% $-2,529	+10% $-2,325
Rate	-1.0pp $-2,393	-0.5pp $-2,561	base $-2,733	+0.5pp $-2,908	+1.0pp $-3,086

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: $168,750
• Closing costs: $20,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	801	$5,590	$6.98	0d	2	0.10mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	71d	1	0.14mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$5,497	$9.83	48d	1	0.17mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$4,800	$6.00	73d	2	0.23mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	73d	2	0.34mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,922	$8.95	0d	24	0.37mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,973	$4.21	0d	1	0.37mi
309 W 97th St Unit 5N New York, NY	2.0	2.0	900	$5,495	$6.11	73d	1	0.38mi
160 W 97th St #1101 New York, NY	2.0	1.0	850	$6,060	$7.13	7d	1	0.40mi
425 Central Park W Unit 4F New York, NY	1.0	1.0	813	$4,900	$6.03	29d	1	0.42mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	71d	1	0.43mi
400 Central Park W Unit 4N New York, NY	1.0	1.0	887	$5,500	$6.20	18d	1	0.45mi
255 W 94th St #686 New York, NY	1.0–2.0	1.0–2.0	800	$4,450	$5.56	0d	2	0.50mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,620	$7.20	0d	2	0.50mi
50 W 97th St #1739 New York, NY	2.0	1.0	800	$6,560	$8.20	55d	1	0.51mi
134 W 93rd St New York, NY	1.0	1.0	763	$4,700	$6.16	60d	1	0.61mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,695	$5.69	43d	4	0.68mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	850	$4,725	$5.56	2d	3	0.68mi
212 W 91st St #416 New York, NY	1.0–2.0	1.0–2.0	850	$5,450	$6.41	0d	2	0.69mi
189 W 89th St New York, NY	2.0	1.0–2.0	769	$7,370	$9.58	0d	6	0.74mi
210 W 89th St #165 New York, NY	1.0	1.0	675	$6,130	$9.08	0d	2	0.78mi
600 Columbus Ave Unit 1251680P New York, NY	1.0–2.0	1.0	900	$6,350	$7.06	0d	2	0.79mi
247 W 87th St New York, NY	1.0	1.0–2.0	822	$6,275	$7.63	67d	2	0.84mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$7,948	$7.52	4d	9	0.91mi
43 W 85th St Unit 1470323P New York, NY	1.0	1.0	699	$6,233	$8.92	7d	1	1.02mi
1160 5th Ave Unit 1261739P New York, NY	1.0–2.0	1.0–2.0	699	$8,213	$11.74	12d	2	1.07mi
1110 City Pl Unit 1-110 Edgewater, NJ	1.0	1.0	800	$2,650	$3.31	66d	1	1.08mi
330 The Promenade #330 Edgewater, NJ	1.0	1.0	850	$3,300	$3.88	43d	1	1.14mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	73d	1	1.16mi
105 Lighthouse Ter Edgewater, NJ	1.0–2.0	1.5–2.5	1000	$2,999	$3.00	0d	5	1.18mi
1399 Park Ave Unit 10C New York, NY	2.0	2.0	962	$5,500	$5.72	48d	1	1.18mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	73d	1	1.20mi
15 Somerset Ln Edgewater, NJ	2.0	1.0–2.0	890	$4,275	$4.80	4d	5	1.22mi
3207 City Pl #3207 Edgewater, NJ	1.0	1.0	977	$2,950	$3.02	14d	1	1.22mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	65d	1	1.23mi
2 Main St Unit D-503 Edgewater, NJ	—	1.0	600	$2,200	$3.67	74d	1	1.26mi
9 Somerset Ln #202 Edgewater, NJ	1.0	1.0	1070	$4,350	$4.07	15d	1	1.26mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	73d	1	1.26mi
147 W 79th St New York, NY	1.0	1.0	927	$6,400	$6.90	73d	1	1.27mi
147 W 79th St New York, NY	1.0	1.0	899	$6,750	$7.51	48d	1	1.27mi

Property features AI

Finance

• Other: Pets are not allowed in the building
• HOA & community: Monthly association fee of $2,141

Exterior

• Home design: Entry level 12Exposures to the East and SouthZoned R8
• Exterior features: No notable exterior features listedProperty has a view

Interior

• Bedrooms: See room count for bedroom configuration
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 roomsBasement: Other
• Laundry & utility: No building laundry

HOA detail $2,141/mo · $25,692/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-06
   days on market $675,000 Active 86 DOM
2. 2026-08-05
   days on market $675,000 Active 85 DOM
3. 2026-08-04
   days on market $675,000 Active 84 DOM
4. 2026-08-03
   days on market $675,000 Active 83 DOM
5. 2026-07-31
   days on market $675,000 Active 80 DOM
6. 2026-07-30
   days on market $675,000 Active 79 DOM
7. 2026-07-30
   days on market $675,000 Active 78 DOM
8. 2026-07-26
   days on market $675,000 Active 75 DOM
9. 2026-07-24
   days on market $675,000 Active 73 DOM
10. 2026-07-23
    days on market $675,000 Active 72 DOM
11. 2026-07-22
    days on market $675,000 Active 71 DOM
12. 2026-07-21
    days on market $675,000 Active 70 DOM
13. 2026-07-20
    days on market $675,000 Active 69 DOM
14. 2026-07-18
    days on market $675,000 Active 67 DOM
15. 2026-07-18
    days on market $675,000 Active 66 DOM
16. 2026-07-16
    days on market $675,000 Active 65 DOM
17. 2026-07-14
    days on market $675,000 Active 63 DOM
18. 2026-07-14
    days on market $675,000 Active 62 DOM
19. 2026-07-13
    days on market $675,000 Active 61 DOM
20. 2026-07-11
    pricedays on market $675,000 Active 60 DOM
21. 2026-07-10
    days on market $735,000 Active 59 DOM
22. 2026-07-09
    days on market $735,000 Active 58 DOM
23. 2026-07-07
    days on market $735,000 Active 56 DOM
24. 2026-07-06
    days on market $735,000 Active 55 DOM
25. 2026-07-05
    days on market $735,000 Active 53 DOM
26. 2026-07-03
    days on market $735,000 Active 52 DOM
27. 2026-07-02
    days on market $735,000 Active 51 DOM
28. 2026-07-01
    days on market $735,000 Active 50 DOM
29. 2026-06-30
    days on market $735,000 Active 49 DOM
30. 2026-06-29
    days on market $735,000 Active 48 DOM
31. 2026-06-28
    days on market $735,000 Active 47 DOM
32. 2026-06-27
    days on market $735,000 Active 46 DOM
33. 2026-06-26
    days on market $735,000 Active 45 DOM
34. 2026-06-24
    days on market $735,000 Active 43 DOM
35. 2026-06-22
    days on market $735,000 Active 41 DOM
36. 2026-06-21
    days on market $735,000 Active 40 DOM
37. 2026-06-18
    days on market $735,000 Active 37 DOM
38. 2026-06-17
    days on market $735,000 Active 36 DOM
39. 2026-06-16
    days on market $735,000 Active 35 DOM
40. 2026-06-15
    days on market $735,000 Active 34 DOM
41. 2026-06-13
    days on market $735,000 Active 32 DOM
42. 2026-06-10
    days on market $735,000 Active 28 DOM
43. 2026-06-08
    days on market $735,000 Active 27 DOM
44. 2026-06-08
    days on market $735,000 Active 26 DOM
45. 2026-06-04
    days on market $735,000 Active 23 DOM
46. 2026-06-03
    days on market $735,000 Active 22 DOM
47. 2026-06-02
    days on market $735,000 Active 21 DOM
48. 2026-06-01
    days on market $735,000 Active 20 DOM
49. 2026-05-31
    days on market $735,000 Active 19 DOM
50. 2026-05-12
    listed $735,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $61,869
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$4,950
• − Management: −$4,950
• − HOA: −$25,692
• − Depreciation: −$19,636
• Taxable loss: −$44,669
• Est. tax savings @ 24.0%: +$10,721
• After-tax cash flow: $-22,072/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 · 11 photos

Good 80/100 Cosmetic rehab Est. rehab $3,900–$11,700 screening

This well-maintained, modern apartment with stunning views is ready for a new owner. Minor exterior painting and kitchen appliance upgrades would further enhance its value.

Value-add opportunities

• Both Paint the exterior walls — Enhances curb appeal and resale value ↑
• Resale Upgrade the kitchen appliances — Modernizes the kitchen and attracts more buyers ↑
• Both Install smart home features — Improves convenience and adds value ↑
• Both Add a smart thermostat — Saves energy and attracts buyers ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Ps/is 266 B- NY #745/2,108 Nat'l #7,252/41,679 Middle Knowledge And Power Preparatory Academy Vi F NY #511/729 Nat'l #8,317/14,009 High Wings Academy B- NY #776/1,100 Nat'l #2,821/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 1,825,725 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 93,065
• Household income: $108,940
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 10% of renters

---

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 22% Two or more races 12% Asian 10% Black 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 6%
• Common ancestry: Scotch-Irish 4% Romanian 3% Lithuanian 2%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 18% Chinese 5% French/Haitian/Cajun 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: ▲ 4.73%
• Current HPI: 276.1636
• Rent YoY: ▲ 6.40%
• 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

Property features AI

Finance

• Other: Pets are not allowed in the building
• HOA & community: Monthly association fee of $2,141

Exterior

• Home design: Entry level 12Exposures to the East and SouthZoned R8
• Exterior features: No notable exterior features listedProperty has a view

Interior

• Bedrooms: See room count for bedroom configuration
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 roomsBasement: Other
• Laundry & utility: No building laundry

Price history

1 event — show timeline

• 2026-05-12 Listed $735,000 RLS at REBNY