33 Convent Ave #23 · New York, NY 10027

$545,000

3 bd · 2.0 ba · 1,250 sqft · Condo · 317 Days on market

Built 1910 ↓ 25% since listing

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

This Rarely Available Unique Home Combines Two Units Into One Expansive 3 Bedroom Layout With A Bonus Room In A Well Maintained HDFC Coop. Freshly Painted And Filled With Natural Light, It Features Tall Ceilings, Hardwood Floors, And A Generous Living/Dining Area Perfect For Entertaining. The Open Concept Kitchen Flows Seamlessly Into The Main Living Space. Custom Laundry Closet For Washer/Dryer Located Next To The Kitchen. All Of The Bedrooms And The Bonus Room Offer Versatile Layouts - Use One As A Home Office, Study, Or Fitness Room. The Primary Bedroom Functions As A Private Suite With A Full Bath. The Building Offers A Renovated Lobby And A Peaceful Shared Outdoor Area With A Garden, S

Key facts

• Built 1910
• Listed 317 days

Property features AI

Finance

• HOA & community: Has association with monthly fees; Association fees cover common area maintenance, exterior maintenance, sewer, snow removal, trash and water

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Sewer connected; Trash collection (public)
• Home design: Stock cooperative; 5-story building; Actual condition
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Unit located on 5th floor (entry level 5)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Steam heating; No central cooling
• Interior features: Eat-in kitchen; No basement; Allows cats and dogs
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $545k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $545k).
• Recommended offer: $480k (12.0% 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 (+2.7%/yr); 175 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $6,830/mo this rent would consume 138% of the median local household income ($60k/yr) (locally 5635% 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 (-1.3%/yr); year-one equity from $4k 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 (-1.3% appreciation + 2.7% rent growth), your $153k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $53k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $479,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.25% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.81%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.26% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.36×
• Total profit: $54,474
• Equity at exit: $124,791

10-year hold

• IRR: 14.5%
• Equity multiple: 2.38×
• Total profit: $211,259
• Equity at exit: $125,360

Cash invested: $152,600 (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 10027

• Home prices YoY: -0.3%
• Rents YoY: 2.7%
• Active inventory: 175
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $6,830 high
• Mortgage (P&I): −$2,858
• Tax est. 1.5%: −$681 /mo · $8,175/yr
• Insurance: −$227
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,434
• Net cashflow: $1,629

Break-even live

Break-even rent $4,768

Max offer price $545,000

Occupancy floor 71%

Sensitivity live

Price	-10% $2,006	-5% $1,817	+0% $1,629	+5% $1,441	+10% $1,252
Rent	-10% $1,089	-5% $1,359	+0% $1,629	+5% $1,899	+10% $2,169
Rate	-1.0pp $1,903	-0.5pp $1,768	base $1,629	+0.5pp $1,488	+1.0pp $1,344

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: $136,250
• Closing costs: $16,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	25d	1	0.08mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	5d	1	0.34mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	11d	1	0.39mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	3d	7	0.39mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	8d	1	0.40mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	19d	1	0.48mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$9,970	$6.02	0d	1	0.92mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	25d	1	0.95mi
545 W 110th St Unit 6A New York, NY	2.0	2.0	1441	$7,500	$5.20	25d	1	0.96mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$5,091	$5.94	0d	21	1.18mi
120 E 116th St Unit 3R New York, NY	4.0	2.0	1100	$4,995	$4.54	8d	1	1.20mi
1280 5th Ave Unit 15G New York, NY	3.0	3.0	1640	$10,500	$6.40	19d	1	1.24mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$8,540	$10.04	0d	2	1.25mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,416	$7.33	0d	184	1.26mi
5 W 103rd St Apt 4W New York, NY	4.0	2.0	1200	$7,495	$6.25	19d	1	1.29mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	25d	1	1.30mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	22d	1	1.34mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$7,532	$5.84	0d	10	1.35mi
862 W End Ave New York, NY	3.0	3.0	1800	$7,995	$4.44	25d	1	1.36mi
100 River Mews Ln Edgewater, NJ	3.0	1.0–2.0	988	$5,205	$5.27	3d	1	1.42mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$5,270	$6.59	25d	2	1.46mi
400 Central Park W Unit 11D New York, NY	2.0	2.0	1142	$6,950	$6.09	25d	1	1.46mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $545,000 Active 317 DOM
2. 2026-06-17
   days on market $545,000 Active 316 DOM
3. 2026-06-15
   days on market $545,000 Active 314 DOM
4. 2026-06-13
   days on market $545,000 Active 312 DOM
5. 2026-06-10
   days on market $545,000 Active 308 DOM
6. 2026-06-08
   days on market $545,000 Active 307 DOM
7. 2026-06-03
   days on market $545,000 Active 302 DOM
8. 2026-06-01
   days on market $545,000 Active 300 DOM
9. 2026-05-31
   days on market $545,000 Active 299 DOM
10. 2026-02-03
    price $545,000
11. 2025-10-02
    price $568,000
12. 2025-08-05
    listed $598,000 Active
13. 2023-09-25
    price $649,000
14. 2023-08-09
    price $699,000
15. 2023-07-28
    listed $725,000 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 · 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: $81,955
• − Mortgage interest: −$30,528
• − Property taxes: −$8,175
• − Insurance: −$2,725
• − Repairs & maintenance: −$6,556
• − Management: −$6,556
• − Depreciation: −$15,855
• Taxable income: $11,559
• Est. tax owed @ 24.0%: −$2,774
• After-tax cash flow: $16,774/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): 63,885
• Household income: $59,587
• Rent vs Own: 82.6% rent · 17.4% own
• Severe rent burden: 5635.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 33% White 27% Hispanic / Latino 24% Asian 10% Two or more races 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 10%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 18% French/Haitian/Cajun 5% Chinese 4%

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: ▼ -1.26%
• Current HPI: 414.8385
• Rent YoY: ▲ 2.71%
• 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

-24.8% since first listed

6 events — show timeline

• 2026-02-03 Price Changed $545,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-02 Price Changed $568,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-05 Listed $598,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-25 Price Changed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-09 Price Changed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-28 Listed $725,000 OneKey® MLS as Distributed by MLS Grid