1608 Amsterdam Ave Unit 5A · New York, NY 10031

$375,000

2 bd · 1.0 ba · 510 sqft · Condo · 21 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• 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 MLS

Welcome To This Move-In-Ready 2 Bedroom Sponsor Owned Unit Situated In A Well Kept, Professionally Managed, Pet-Friendly Walk-Up With Only 18 Residences In The Heart Of Hamilton Heights Directly Across From City College. Unit 5A Is A Quiet Back-Corner Apartment Offering Approx 510 SqFt, 9' Ceilings, Hardwood Floors, And Oversized Windows That Bring In Great Natural Light. The Open Living Room And Kitchen Create A Flexible Layout Complemented By 2 Well Proportioned Bedrooms With Closets. Residents Enjoy Complimentary Basement Bike Storage And Personal Storage Lockers. Two Thoughtfully Maintained Common Patios Provide Inviting Spaces To Relax, Gather With Neighbors, Frill, Or Dine Outdoors. Subletting And Pets Are Permitted. Maintenance Includes Heat And Hot Water. Conveniences Include A Nearby Laundromat, Dentist, Corner Deli, Plus An Assortment Of Shops And Dining Options. Close To The 1, A, C, B, & D Trains And The M100/101 Bus. HDFC Income Restrictions Apply.

Key facts

• Subletting permitted
• Nearby laundromat
• Move in ready

Tags

• MOVE IN READY
• PET FRIENDLY
• QUIET BACK CORNER APARTMENT
• PERSONAL STORAGE LOCKERS
• SUBLETTING PERMITTED
• NEARBY LAUNDROMAT

Property features AI

Finance

• Other: Living area based on plans
• HOA & community: Association managed by ESRA Management; Association covers common area maintenance, exterior maintenance, grounds care, heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Phone connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; 5-story building; Entry on 5th level
• Construction: Brick construction
• Exterior features: Interior lot; Near public transit; Near shops; Near school

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Located on 5th floor
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning unit(s)
• Interior features: Entrance foyer; Open floor plan; Open kitchen; Intercom; Bicycle room; Outdoor space; Courtyard; Gas grill

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $369k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 $3,810/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 $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 (-2.1% appreciation + 6.7% rent growth), your $105k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $369,375 (1.5% below list)

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: 1.02% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 8.2

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-4,516
• Equity at exit: $71,821

10-year hold

• IRR: 10.4%
• Equity multiple: 2.03×
• Total profit: $108,476
• Equity at exit: $60,418

Cash invested: $105,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $3,810 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$800
• Net cashflow: $418

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 84%

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: $93,750
• Closing costs: $11,250
• 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	24d	1	0.65mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$5,617	$4.35	1d	9	1.22mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$9,000	$11.53	3d	2	1.33mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	11d	23	1.33mi
2 Columbia Ter Edgewater, NJ	1.0	1.0	500	$1,650	$3.30	15d	1	1.35mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,134	$5.08	1d	183	1.43mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,145	$4.92	1d	1	1.48mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $375,000 Active 21 DOM
2. 2026-06-17
   days on market $375,000 Active 20 DOM
3. 2026-06-16
   days on market $375,000 Active 19 DOM
4. 2026-06-15
   days on market $375,000 Active 18 DOM
5. 2026-06-13
   days on market $375,000 Active 16 DOM
6. 2026-06-10
   days on market $375,000 Active 12 DOM
7. 2026-06-08
   days on market $375,000 Active 11 DOM
8. 2026-06-08
   days on market $375,000 Active 10 DOM
9. 2026-06-04
   days on market $375,000 Active 7 DOM
10. 2026-06-03
    days on market $375,000 Active 6 DOM
11. 2026-06-02
    days on market $375,000 Active 5 DOM
12. 2026-06-01
    days on market $375,000 Active 4 DOM
13. 2026-05-31
    days on market $375,000 Active 3 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 · 14 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: $45,722
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,658
• − Management: −$3,658
• − Depreciation: −$10,909
• Taxable loss: −$1,009
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $5,264/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 · 12 photos

Good 80/100 Cosmetic rehab

This move-in-ready 2-bedroom unit in Hamilton Heights is in good condition with minimal repairs needed. Upgrades in paint, appliances, and smart home features can significantly increase its value for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Updating the kitchen appliances — Modern appliances can increase both resale and rental value.
• Both Adding smart home features — Smart home features can improve convenience and attract tech-savvy buyers/renters.
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs, benefiting both resale and rental value.
• Both Landscaping the patio area — A well-maintained patio area can enhance the outdoor living space and attract buyers/renters who value outdoor amenities.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Updating the kitchen appliances — Modern appliances can increase both resale and rental value. ↑
• Both Adding smart home features — Smart home features can improve convenience and attract tech-savvy buyers/renters. ↑
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs, benefiting both resale and rental value. ↑
• Both Landscaping the patio area — A well-maintained patio area can enhance the outdoor living space and attract buyers/renters who value outdoor amenities. ↑

ⓘ 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

+0.0% since first listed

2 events — show timeline

• 2026-05-28 Listed $375,000 BNYMLS
• 2026-05-28 Listed $375,000 OneKey® MLS as Distributed by MLS Grid