1989 Amsterdam Ave #41 · New York, NY 10032

$219,000

2 bd · 1.0 ba · 800 sqft · Condo · 80 Days on market

Built 1910 ↓ 42% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Residence 41 at 1989 Amsterdam Avenue — a bright 2-bedroom on the 4th floor of a classic pre-war walk-up in Washington Heights . The apartment features a functional layout, windowed kitchen, and good natural light throughout. Needs minor TLC, offering great potential to customize and add value. Low monthly maintenance makes this an exceptional opportunity for affordable homeownership in Manhattan. Conveniently located near the A, C, and 1 trains, with easy access to shopping, dining, and everyday essentials. HDFC co-op – income restrictions apply (approximately not more than 125% of Area Median Income).

Key facts

• Windowed kitchen
• Good natural light
• Built 1910

Tags

• WINDOWED KITCHEN
• GOOD NATURAL LIGHT
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO ESSENTIALS

Property features AI

Finance

• Other: Living area reported as 800 (source: Other)
• Financial info: Details not provided
• HOA & community: Pets allowed — contact for details

Exterior

• Parking: On-street parking
• Security: Details not specified
• Utilities: Electricity connected; Natural gas connected; Water connected; Public sewer / Sewer connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Details not specified
• Flooring: Details not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/window air conditioning unit(s)
• Interior features: Original details; Entry on 4th level; 4 total rooms
• Laundry & utility: Details not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $219k.

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 ($4k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 (+2.8%/yr); 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $4,377/mo this rent would consume 92% of the median local household income ($57k/yr) (locally 5464% 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 $18k of equity ($2k loan paydown + $17k appreciation (7.7% 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 (7.7% appreciation + 2.8% rent growth), your $61k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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: HOA is 21% of rent; 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→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.00% ✓
• Cap rate: 11.96%
• Cash-on-cash: 20.24%
• DSCR: 1.90
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.66% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 3.47×
• Total profit: $151,281
• Equity at exit: $161,346

10-year hold

• IRR: 31.6%
• Equity multiple: 7.36×
• Total profit: $389,733
• Equity at exit: $315,585

Cash invested: $61,320 (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 10032

• Home prices YoY: 1.8%
• Rents YoY: 2.8%
• Active inventory: 79
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $4,377 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA est. from 2 same-building comps: −$910
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $1,034

Break-even live

Break-even rent $3,068

Max offer price $219,000

Occupancy floor 71%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Pinehurst Ave Ph 7B New York, NY	2.0	2.0	1043	$5,200	$4.99	11d	1	1.08mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	4d	1	1.26mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	1.38mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $219,000 Active 80 DOM
2. 2026-06-17
   days on market $219,000 Active 79 DOM
3. 2026-06-15
   days on market $219,000 Active 77 DOM
4. 2026-06-13
   days on market $219,000 Active 75 DOM
5. 2026-06-10
   days on market $219,000 Active 71 DOM
6. 2026-06-08
   days on market $219,000 Active 70 DOM
7. 2026-06-08
   days on market $219,000 Active 69 DOM
8. 2026-06-04
   days on market $219,000 Active 66 DOM
9. 2026-06-03
   days on market $219,000 Active 65 DOM
10. 2026-06-01
    days on market $219,000 Active 63 DOM
11. 2026-05-31
    days on market $219,000 Active 62 DOM
12. 2026-03-30
    listed $219,000 Active
13. 2019-10-06
    historical
14. 2018-10-06
    listed $375,000 Active

ⓘ 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 · 13 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: $52,523
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$4,202
• − Management: −$4,202
• − HOA: −$10,920
• − Depreciation: −$6,371
• Taxable income: $10,181
• Est. tax owed @ 24.0%: −$2,443
• After-tax cash flow: $9,968/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): 55,610
• Household income: $56,829
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 5464.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 14% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 42%
• Common ancestry: Romanian 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 44% · Canada, China
• Languages at home: 38% English-only · Spanish 54% Other Indo-European 3% 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: ▲ 7.66%
• Current HPI: 431.3199
• Rent YoY: ▲ 2.84%
• 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

-41.6% since first listed

3 events — show timeline

• 2026-03-30 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-10-06 Listed $375,000 OneKey® MLS as Distributed by MLS Grid