602 West 140 St Unit 3C · New York, NY 10031

$350,000

2 bd · 1.0 ba · 586 sqft · Condo · 3 Days on market

Built 1910 Good condition

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Why this score? — see what drove the C+ 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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Appreciation +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0

Listing remarks

Sun-Filled Corner Two-Bedroom HDFC Co-op in Hamilton Heights Welcome to Residence 3C, a bright and inviting corner two-bedroom home in a well-maintained HDFC cooperative in the heart of Hamilton Heights. Located on the third floor of a meticulously maintained walk-up building, this home enjoys south, east, and west exposures, filling the space with natural light throughout the day. The thoughtfully designed layout features hardwood floors, generous closet space, a windowed kitchen, and the convenience of an in-unit washer and dryer. Additional highlights include an intercom system, a live-in superintendent, and storage bins available for lease, subject to availability. Situated on a charmi

Key facts

• Built 1910
• Listed 3 days

Property features AI

Finance

• Other: Pets allowed in building
• Financial info: Building contains 16 total units
• HOA & community: Monthly association fee of $559

Exterior

• Home design: Entry on the 3rd level
• Construction: Building has 5 total stories
• Exterior features: No notable exterior features listed; Exposures to the east, south and west; Has a view

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Interior features: Dining area; Basement (other)
• Laundry & utility: In-unit laundry; Washer hookup; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $350k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 8.3% 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 (+6.7%/yr); 89 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,818/mo this rent would consume 70% of the median local household income ($65k/yr) (locally 5780% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-2.1% appreciation + 6.7% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $350,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.06% appreciation · 6.67% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.10×
• Total profit: $9,983
• Equity at exit: $67,033

10-year hold

• IRR: 13.6%
• Equity multiple: 2.38×
• Total profit: $135,050
• Equity at exit: $56,390

Cash invested: $98,000 (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 10031

• Home prices YoY: -0.4%
• Rents YoY: 6.7%
• Active inventory: 89
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,818 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $598

Break-even live

Break-even rent $3,062

Max offer price $350,000

Occupancy floor 79%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	25d	1	0.79mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$5,617	$4.35	1d	9	1.05mi
2 Columbia Ter Edgewater, NJ	1.0	1.0	500	$1,650	$3.30	15d	1	1.18mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$9,000	$11.53	4d	2	1.34mi
100 River Mews Ln Edgewater, NJ	3.0	1.0–2.0	988	$4,452	$4.50	3d	1	1.38mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,145	$4.92	1d	1	1.49mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	12d	23	1.50mi

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $350,000 Active 3 DOM
2. 2026-06-17
   days on market $350,000 Active 2 DOM
3. 2026-06-15
   days on marketlisting id $350,000 Active 1 DOM
4. 2026-06-15
   days on market $350,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $350,000 Active 1 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 · 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: $45,819
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,666
• − Management: −$3,666
• − Depreciation: −$10,182
• Taxable income: $1,701
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $6,764/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 · 9 photos

Good 80/100 Cosmetic rehab

This corner two-bedroom HDFC coop in Hamilton Heights is in good condition with a good condition score of 80. It has a good exterior, hardwood floors, and neutral paint. The home is move-in ready with minor cosmetic updates that could increase its value.

Value-add opportunities

• Both Paint the exterior brick — Enhances curb appeal and can increase both resale and rental value
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's appearance and functionality
• Resale Upgrade the bathroom fixtures — Modern fixtures can make the bathroom more appealing to potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior brick — Enhances curb appeal and can increase both resale and rental value ↑
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's appearance and functionality ↑
• Resale Upgrade the bathroom fixtures — Modern fixtures can make the bathroom more appealing to potential buyers ↑

ⓘ 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): 61,058
• Household income: $65,283
• Rent vs Own: 85.9% rent · 14.1% own
• Severe rent burden: 5780.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 49% Black 25% Two or more races 21% White 18% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Dominican 32%
• Common ancestry: Italian 2% Hispanic 1% Romanian 1%
• Foreign-born: 38% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 43% French/Haitian/Cajun 3% Other Asian/Pacific 1%

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: ▼ -2.06%
• Current HPI: 468.3156
• Rent YoY: ▲ 6.67%
• 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

• 2026-06-13 Listed $350,000 RLS at REBNY