119 W 81st St · New York, NY 10024

$3,500,000

100 bd · 100.0 ba · 4,978 sqft · MultiFamily public records · 58 Days on market

Built 1885 1,736 sqft lot

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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 +27.5/30.0
• DSCR +9.7/10.0
• 1% rule +8.1/10.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

119 West 81st Street - Upper West Side Townhouse Investment Opportunity A rare opportunity to acquire a beautifully maintained, 10-unit circa-1885 townhouse on a coveted tree-lined block in the heart of the Upper West Side. This classic brownstone can be delivered approximately 40% vacant and spans 5 finished floors plus an unfinished basement, offering exceptional flexibility for both end-users and investors. Located just moments from American Museum of Natural History and Central Park, and within the sought-after Upper West Side/Central Park West Historic District, the property enjoys picturesque views of surrounding historic townhouses and an unbeatable neighborhood setting. Measuri

Key facts

• Elegant entry lobby
• Flexible layout
• Historic district

Tags

• TREE LINED BLOCK
• HISTORIC DISTRICT
• FLEXIBLE LAYOUT
• OWNER'S GARDEN LEVEL RESIDENCE
• ELEGANT ENTRY LOBBY
• WELL MAINTAINED COMMON AREAS

Property features AI

Finance

• Other: Multifamily property with 10 total units
• Financial info: Annual tax amount reported

Exterior

• Home design: 5-story building; Entry level on 1st floor; Green building
• Construction: Lot dimensions approximately 102.17 x 17.00
• Exterior features: Private outdoor space (over 60 sqft); Deck; Terrace

Interior

• Bedrooms: Total rooms: 13; Contains basement space
• Bathrooms: 10 full bathrooms
• Interior features: High ceilings; Smoke-free building; Decorative fireplace
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $3.50M.

Deal economics

• At list price, monthly cash flow is $10k ($125k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($46k rent vs $3.50M).
• Recommended offer: $3.40M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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); 327 active listings in the ZIP; high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $45,863/mo this rent would consume 303% of the median local household income ($182k/yr) (locally 3388% 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 $210k of equity ($24k loan paydown + $186k 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.
• At projected returns (5.3% appreciation + 8.0% rent growth), your $980k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$337k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($3.40M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $3.50M implies a 5285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $3,395,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.31% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.72%
• DSCR: 1.57
• GRM: 6.4

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: 27.6%
• Equity multiple: 2.81×
• Total profit: $1,775,849
• Equity at exit: $2,051,030

10-year hold

• IRR: 28.8%
• Equity multiple: 6.46×
• Total profit: $5,353,316
• Equity at exit: $3,597,017

Cash invested: $980,000 (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 10024

• Home prices YoY: 2.2%
• Rents YoY: 8.2%
• Active inventory: 327
• Price-to-rent: 63.6×

Monthly cashflow live

• Estimated rent: $45,863 medium
• Mortgage (P&I): −$18,354
• Tax from tax record: −$6,033 /mo · $72,396/yr
• Insurance: −$1,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,631
• Net cashflow: $10,386

Break-even live

Break-even rent $32,716

Max offer price $3,500,000

Occupancy floor 72%

Sensitivity live

Price	-10% $12,367	-5% $11,377	+0% $10,386	+5% $9,395	+10% $8,405
Rent	-10% $6,763	-5% $8,574	+0% $10,386	+5% $12,198	+10% $14,009
Rate	-1.0pp $12,149	-0.5pp $11,276	base $10,386	+0.5pp $9,479	+1.0pp $8,556

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$45,860
Total (10 units)			$45,863

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: $875,000
• Closing costs: $105,000
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $3,500,000 Active 58 DOM
2. 2026-06-18
   days on market $3,500,000 Active 55 DOM
3. 2026-06-17
   days on market $3,500,000 Active 54 DOM
4. 2026-06-16
   days on market $3,500,000 Active 53 DOM
5. 2026-06-15
   days on market $3,500,000 Active 52 DOM
6. 2026-06-13
   days on market $3,500,000 Active 50 DOM
7. 2026-06-10
   days on market $3,500,000 Active 46 DOM
8. 2026-06-08
   days on market $3,500,000 Active 45 DOM
9. 2026-06-08
   days on market $3,500,000 Active 44 DOM
10. 2026-06-04
    days on market $3,500,000 Active 41 DOM
11. 2026-06-03
    days on market $3,500,000 Active 40 DOM
12. 2026-06-01
    days on market $3,500,000 Active 38 DOM
13. 2026-05-31
    days on market $3,500,000 Active 37 DOM
14. 2026-04-24
    listed $3,500,000 Active
15. 1983-11-30
    soldstatus $65,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $72,396 · $6,033/mo
• Projected year-2 tax: $72,396 · $6,033/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $550,356
• − Mortgage interest: −$196,054
• − Property taxes: −$72,396
• − Insurance: −$17,500
• − Repairs & maintenance: −$44,028
• − Management: −$44,028
• − Depreciation: −$101,818
• Taxable income: $74,531
• Est. tax owed @ 24.0%: −$17,887
• After-tax cash flow: $106,745/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

+5284.6% since first listed

2 events — show timeline

• 2026-04-24 Listed $3,500,000 RLS at REBNY
• 1983-11-30 Sold (Public Records) $65,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $72,396 · -0.0% YoY. Source: county tax records.