424 W 46th St Unit 1D · New York, NY 10036

$379,000

1 bd · 1.0 ba · 475 sqft · Townhouse · 100 Days on market

Built 1910 Good condition $798/sqft · 36% below area Est $593k · 36% under ↓ 10% since listing

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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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• Schools +7.7/10.0
• 1% rule +7.1/10.0
• Appreciation +4.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.6/5.0

Listing remarks

Welcome to this intelligently designed first-floor studio located on a charming tree-lined block in the heart of Hell’s Kitchen. What sets this apartment apart is its thoughtfully configured layout, featuring a custom elevated sleeping platform positioned above the dining area - creating a clear separation between living, dining, and sleeping spaces rarely found in studios at this price point. The main level offers a comfortable living area, a true dining space beneath the platform, and an updated kitchen with stainless steel appliances, including a dishwasher, along with a dine-in granite countertop.

Key facts

• Built 1910
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $379k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $379k).
• Recommended offer: $345k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.7% 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 fast (+4.3%/yr); 226 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $4,601/mo this rent would consume 58% of the median local household income ($96k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $8k 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 (-2.0% appreciation + 4.3% rent growth), your $106k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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: 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 $344,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $592,826
• List price: $379,000
• Delta: -36.07%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
450 W 55th St Unit 3FW	0.45mi	1/1.0	450 (-5%)	14mo	$215,750	$479	58
115-117 E 66th St	1.45mi	1/1.0	500 (+5%)	8mo	$255,000	$510	50
330 W 28th St Unit 20G	0.89mi	1/1.0	473 (-0%)	32mo	$185,000	$391	44
349 E 49th St Unit 2k	1.38mi	1/1.0	540 (+14%)	0mo	$450,000	$833	42
344 W 37th St Unit 17FF	0.46mi	1/1.0	560 (+18%)	15mo	$608,000	$1,086	41
210 E36th St Unit 5f	1.30mi	1/1.0	500 (+5%)	21mo	$710,000	$1,420	39
46 E 65th St Unit 4	1.32mi	1/1.0	521 (+10%)	14mo	$508,000	$975	37
251 E 32 Unit 2-D	1.45mi	1/1.0	550 (+16%)	4mo	$350,000	$636	37
136 E 36th St Unit 9F	1.20mi	1/1.0	577 (+22%)	22mo	$475,500	$824	22

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

Projected returns pro-forma

-2.0% appreciation · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.24×
• Total profit: $25,565
• Equity at exit: $73,702

10-year hold

• IRR: 14.6%
• Equity multiple: 2.37×
• Total profit: $145,754
• Equity at exit: $63,076

Cash invested: $106,120 (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: 23 active · 2 under contract
• Median asking: $775,000 ($1398/sqft)
• Median days on market: 118 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -10.7% vs current asking $/sqft

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

ZIP-level market 10036

• Home prices YoY: -0.8%
• Rents YoY: 4.3%
• Active inventory: 226
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $4,601 medium
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $1,016

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,278	-5% $1,147	+0% $1,016	+5% $885	+10% $754
Rent	-10% $652	-5% $834	+0% $1,016	+5% $1,198	+10% $1,379
Rate	-1.0pp $1,207	-0.5pp $1,112	base $1,016	+0.5pp $918	+1.0pp $818

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: $94,750
• Closing costs: $11,370
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 W 73rd St New York, NY	2.0	1.0–2.0	660	$6,430	$9.73	73d	4	1.38mi

Property features AI

Exterior

• Parking: No carportNo designated parking
• Utilities: Public sewerElectricity connectedNatural gas connectedSewer connectedWater connected
• Home design: Stock cooperativeEntry level: 1Five total stories
• Construction: Brick construction
• Exterior features: Brick constructionNot waterfrontBicycle roomWalk-up building

Interior

• Kitchen: DishwasherGas ovenRefrigerator
• Bedrooms: Bedroom on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heatingWall/window air conditioning units
• Interior features: First-floor bedroomFirst-floor full bathroomBuilt-in featuresBasement (see remarks)Three total roomsPets allowed
• Laundry & utility: Laundry roomLaundry in basement

Listing history 50 events

1. 2026-08-06
   days on market $379,000 Active 100 DOM
2. 2026-08-05
   days on market $379,000 Active 99 DOM
3. 2026-08-04
   days on market $379,000 Active 98 DOM
4. 2026-08-03
   days on market $379,000 Active 97 DOM
5. 2026-07-31
   days on market $379,000 Active 94 DOM
6. 2026-07-30
   days on market $379,000 Active 93 DOM
7. 2026-07-30
   days on market $379,000 Active 92 DOM
8. 2026-07-26
   days on market $379,000 Active 89 DOM
9. 2026-07-24
   days on market $379,000 Active 87 DOM
10. 2026-07-23
    days on market $379,000 Active 86 DOM
11. 2026-07-22
    days on market $379,000 Active 85 DOM
12. 2026-07-21
    days on market $379,000 Active 84 DOM
13. 2026-07-20
    days on market $379,000 Active 83 DOM
14. 2026-07-18
    days on market $379,000 Active 81 DOM
15. 2026-07-18
    days on market $379,000 Active 80 DOM
16. 2026-07-16
    days on market $379,000 Active 79 DOM
17. 2026-07-14
    days on market $379,000 Active 77 DOM
18. 2026-07-14
    days on market $379,000 Active 76 DOM
19. 2026-07-13
    days on market $379,000 Active 75 DOM
20. 2026-07-11
    days on market $379,000 Active 74 DOM
21. 2026-07-10
    days on market $379,000 Active 73 DOM
22. 2026-07-09
    days on market $379,000 Active 72 DOM
23. 2026-07-07
    days on market $379,000 Active 70 DOM
24. 2026-07-06
    days on market $379,000 Active 69 DOM
25. 2026-07-05
    days on market $379,000 Active 67 DOM
26. 2026-07-03
    days on market $379,000 Active 66 DOM
27. 2026-07-02
    days on market $379,000 Active 65 DOM
28. 2026-07-01
    days on market $379,000 Active 64 DOM
29. 2026-06-30
    days on market $379,000 Active 63 DOM
30. 2026-06-29
    days on market $379,000 Active 62 DOM
31. 2026-06-28
    days on market $379,000 Active 61 DOM
32. 2026-06-27
    days on market $379,000 Active 60 DOM
33. 2026-06-26
    pricedays on market $379,000 Active 59 DOM
34. 2026-06-24
    days on market $384,000 Active 57 DOM
35. 2026-06-22
    days on market $384,000 Active 55 DOM
36. 2026-06-21
    days on market $384,000 Active 54 DOM
37. 2026-06-18
    days on market $384,000 Active 51 DOM
38. 2026-06-17
    days on market $384,000 Active 50 DOM
39. 2026-06-16
    days on market $384,000 Active 49 DOM
40. 2026-06-15
    days on market $384,000 Active 48 DOM
41. 2026-06-13
    days on market $384,000 Active 46 DOM
42. 2026-06-10
    days on market $384,000 Active 42 DOM
43. 2026-06-08
    days on market $384,000 Active 41 DOM
44. 2026-06-08
    days on market $384,000 Active 40 DOM
45. 2026-06-04
    days on market $384,000 Active 37 DOM
46. 2026-06-03
    days on market $384,000 Active 36 DOM
47. 2026-06-01
    days on market $384,000 Active 34 DOM
48. 2026-05-31
    days on market $384,000 Active 33 DOM
49. 2026-04-27
    listed $389,000 Active
50. 2021-10-06
    price $390,000

ⓘ 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 7/10 Severe 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: $55,216
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$4,417
• − Management: −$4,417
• − Depreciation: −$11,025
• Taxable income: $6,546
• Est. tax owed @ 24.0%: −$1,571
• After-tax cash flow: $10,619/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 75/100 Cosmetic rehab Est. rehab $2,375–$7,125 screening

This studio apartment is in good condition with a well-maintained exterior and interior. It offers a unique layout and is ready for a new owner.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean windows — Improves natural light and aesthetics ↑

ⓘ 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.

B Composite school gradezoned avg 76/100

Zoned Schools

Elementary Ps 51 Elias Howe A- NY #447/2,108 Nat'l #3,487/41,679 Middle Mark Twain Is 239 For The Gifted And Talented A+ NY #6/729 Nat'l #25/14,009 High Bronxdale High School B NY #746/1,100 Nat'l #2,514/17,239

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): 31,036
• Household income: $95,638
• Rent vs Own: 89.5% rent · 10.5% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 51% Hispanic / Latino 19% Asian 15% Two or more races 15% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 5% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 31% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 15% Other Indo-European 6% Chinese 6%

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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: ▼ -2.00%
• Current HPI: 250.4308
• Rent YoY: ▲ 4.29%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Exterior

• Parking: No carportNo designated parking
• Utilities: Public sewerElectricity connectedNatural gas connectedSewer connectedWater connected
• Home design: Stock cooperativeEntry level: 1Five total stories
• Construction: Brick construction
• Exterior features: Brick constructionNot waterfrontBicycle roomWalk-up building

Interior

• Kitchen: DishwasherGas ovenRefrigerator
• Bedrooms: Bedroom on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heatingWall/window air conditioning units
• Interior features: First-floor bedroomFirst-floor full bathroomBuilt-in featuresBasement (see remarks)Three total roomsPets allowed
• Laundry & utility: Laundry roomLaundry in basement

Price history

-9.8% since first listed

8 events — show timeline

• 2026-06-24 Price Changed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-24 Price Changed $384,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listed $389,000 OneKey® MLS as Distributed by MLS Grid
• 2021-10-06 Price Changed $390,000 RLS at REBNY
• 2021-08-01 Relisted — RLS at REBNY
• 2021-08-01 Price Changed $410,000 RLS at REBNY
• 2020-08-28 Listed $420,000 RLS at REBNY
• 2020-08-28 Listed $420,000 RLS at REBNY