229 West 144th St #34 · New York, NY 10030

$400,000

4 bd · 1.0 ba · 1,300 sqft · Condo · 108 Days on market

Built 1940

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

If you are looking for an amazing 4 bedroom pre war unit look no further as your location has been discovered! This unit serves as an amazing canvas that will allow the prospective buyer the opportunity to create an amazing living space with their personal touch and flare. There are endless opportunities to turn this unit into a special living space to your liking! The unit is listed at an amazing price of $450k in the heart of Harlem which is historic in nature! The rooms are fairly spacious along with hard wood floors and plenty of natural light, washer and dryer hook up capabilities. The building is very well kept and clean as well as an active board that is present. This is an HDFC and

Key facts

• Built 1940
• Listed 107 days

Property features AI

Exterior

• Parking: No designated parking; No carport
• Utilities: Shared sewer; No other utilities listed
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: Entry level: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Other heating; No cooling
• Interior features: Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $364k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+8.8%/yr); 73 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,498/mo this rent would consume 166% of the median local household income ($40k/yr) (locally 4110% 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 $35k of equity ($3k loan paydown + $32k appreciation (8.1% 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 (8.1% appreciation + 8.0% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $364,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.37% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.92%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.05% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.1%
• Equity multiple: 3.64×
• Total profit: $295,662
• Equity at exit: $305,156

10-year hold

• IRR: 34.3%
• Equity multiple: 8.65×
• Total profit: $856,569
• Equity at exit: $606,943

Cash invested: $112,000 (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 10030

• Home prices YoY: 2.3%
• Rents YoY: 8.8%
• Active inventory: 73
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $5,498 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,155
• Net cashflow: $1,579

Break-even live

Break-even rent $3,499

Max offer price $400,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,855	-5% $1,717	+0% $1,579	+5% $1,441	+10% $1,302
Rent	-10% $1,145	-5% $1,362	+0% $1,579	+5% $1,796	+10% $2,013
Rate	-1.0pp $1,780	-0.5pp $1,681	base $1,579	+0.5pp $1,475	+1.0pp $1,370

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	6d	1	0.50mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	26d	1	0.81mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$5,091	$5.94	0d	21	0.96mi
32 E 126th St Unit 3 New York, NY	5.0	2.0	1600	$6,000	$3.75	20d	1	1.01mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	20d	1	1.01mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,419	$7.33	0d	181	1.06mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	9d	1	1.15mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-21
   days on market $400,000 Active 108 DOM
2. 2026-06-18
   days on market $400,000 Active 105 DOM
3. 2026-06-17
   days on market $400,000 Active 104 DOM
4. 2026-06-15
   days on market $400,000 Active 102 DOM
5. 2026-06-13
   days on market $400,000 Active 100 DOM
6. 2026-06-10
   days on market $400,000 Active 96 DOM
7. 2026-06-08
   days on market $400,000 Active 95 DOM
8. 2026-06-08
   days on market $400,000 Active 94 DOM
9. 2026-06-04
   days on market $400,000 Active 91 DOM
10. 2026-06-03
    days on market $400,000 Active 90 DOM
11. 2026-06-01
    days on market $400,000 Active 88 DOM
12. 2026-05-31
    days on market $400,000 Active 87 DOM
13. 2026-05-21
    price $400,000
14. 2026-03-05
    listed $450,000 Active
15. 2025-12-17
    historical
16. 2025-07-17
    listed $349,500 Active
17. 2020-06-10
    price $300,000
18. 2020-04-18
    price $350,000
19. 2020-04-17
    listed $300,000
20. 2019-07-26
    price $345,000
21. 2019-04-16
    price $350,000
22. 2018-10-23
    price $375,000

ⓘ 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: $65,972
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,278
• − Management: −$5,278
• − Depreciation: −$11,636
• Taxable income: $13,374
• Est. tax owed @ 24.0%: −$3,210
• After-tax cash flow: $15,737/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): 29,297
• Household income: $39,802
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 4110.0

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 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6% Dominican 11%
• Common ancestry: Hispanic 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 21% French/Haitian/Cajun 5% Chinese 2%

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: ▲ 8.05%
• Current HPI: 354.2971
• Rent YoY: ▲ 8.84%
• 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

+6.7% since first listed

10 events — show timeline

• 2026-05-21 Price Changed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-17 Listed $349,500 OneKey® MLS as Distributed by MLS Grid
• 2020-06-10 Price Changed $300,000 RLS at REBNY
• 2020-04-18 Price Changed $350,000 RLS at REBNY
• 2020-04-17 Listed $300,000 RLS at REBNY
• 2019-07-26 Price Changed $345,000 RLS at REBNY
• 2019-04-16 Price Changed $350,000 RLS at REBNY
• 2018-10-23 Price Changed $375,000 RLS at REBNY