346 E 119th St Unit 5-A · New York, NY 10035

$625,000

1 bd · 1.0 ba · 730 sqft · Condo public records · 71 Days on market

Built 2007 $760/mo HOA · 22% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Cash flow +2.8/30.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0

Listing remarks

agent shows by appointment only

Key facts

• $760 HOA
• Built 2007
• Listed 70 days

Property features AI

Finance

• Financial info: Pets allowed in building
• HOA & community: Monthly association fee of $760

Exterior

• Home design: Located on entry level 5; 6-story building; North exposures
• Exterior features: Private outdoor space under 60 sqft; Juliet balcony; Building storage

Interior

• Bedrooms: 3 rooms total (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling
• Interior features: Has north-facing view; Private outdoor space under 60 sqft; Juliet balcony; Building storage
• Laundry & utility: In-unit washer and dryer; Building allows washer/dryer installation

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $625k.

Deal economics

• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (70.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $348k (44.4% below list).
• Recommended offer: $184k (70.6% below list) — sets the bar for cash-flow.

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 (+5.6%/yr); 71 active listings in the ZIP; 13 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 $3,476/mo this rent would consume 92% of the median local household income ($45k/yr) (locally 3992% 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 $25k of equity ($4k loan paydown + $20k appreciation (3.2% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($588k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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: flood insurance adds $427/mo; HOA is 22% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $183,872 (70.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 71% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.56% ✗
• Cap rate: 2.32%
• Cash-on-cash: -14.20%
• DSCR: 0.37
• GRM: 15.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.23% appreciation · 5.62% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.62×
• Total profit: $-66,041
• Equity at exit: $289,206

10-year hold

• IRR: -0.2%
• Equity multiple: 0.97×
• Total profit: $-5,272
• Equity at exit: $452,167

Cash invested: $175,000 (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 10035

• Home prices YoY: 1.0%
• Rents YoY: 5.6%
• Active inventory: 71
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $3,476 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$519 /mo · $6,224/yr
• Insurance: −$260
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$760
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $-2,497

Break-even live

Break-even rent $6,637

Max offer price $183,872

Occupancy floor —

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	2d	183	0.68mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,900	$3.38	12d	23	0.76mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	16d	1	0.92mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,960	$11.10	3d	1	1.13mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$5,580	$9.56	4d	2	1.14mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	3d	2	1.15mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,520	$7.46	2d	2	1.18mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	25d	1	1.19mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	4d	3	1.23mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,600	$8.09	2d	2	1.40mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	4d	2	1.41mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	1.43mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	21d	1	1.48mi

HOA detail condo

• Monthly dues: $760 · $9,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $625,000 Active 71 DOM
2. 2026-06-17
   days on market $625,000 Active 70 DOM
3. 2026-06-15
   days on market $625,000 Active 68 DOM
4. 2026-06-13
   days on market $625,000 Active 66 DOM
5. 2026-06-10
   days on market $625,000 Active 62 DOM
6. 2026-06-08
   days on market $625,000 Active 61 DOM
7. 2026-06-08
   days on market $625,000 Active 60 DOM
8. 2026-06-04
   days on market $625,000 Active 57 DOM
9. 2026-06-03
   days on market $625,000 Active 56 DOM
10. 2026-06-01
    days on market $625,000 Active 54 DOM
11. 2026-05-31
    days on market $625,000 Active 53 DOM
12. 2026-04-08
    listed $625,000 Active
13. 2016-02-18
    soldstatus $590,000
14. 2015-12-01
    listed $590,000
15. 2015-12-01
    listed $590,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,224 · $519/mo
• Projected year-2 tax: $8,393 · $699/mo
• Expected delta: +$2,169/yr (+$181/mo · 34.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 78% 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: $41,713
• − Mortgage interest: −$35,010
• − Property taxes: −$6,224
• − Insurance: −$8,244
• − Repairs & maintenance: −$3,337
• − Management: −$3,337
• − HOA: −$9,120
• − Depreciation: −$18,182
• Taxable loss: −$41,741
• Est. tax savings @ 24.0%: +$10,018
• After-tax cash flow: $-19,948/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): 38,862
• Household income: $45,121
• Rent vs Own: 89.0% rent · 11.0% own
• Severe rent burden: 3992.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 42% Black 35% White 14% Two or more races 13% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 16% Dominican 10%
• Common ancestry: Lithuanian 2% Romanian 1% Scotch-Irish 1%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 34% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 3.23%
• Current HPI: 317.1637
• Rent YoY: ▲ 5.62%
• 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

+5.9% since first listed

4 events — show timeline

• 2026-04-08 Listed $625,000 RLS at REBNY
• 2016-02-18 Sold (Public Records) $590,000 Public Records
• 2015-12-01 Listed $590,000 RLS at REBNY
• 2015-12-01 Listed $590,000 RLS at REBNY

Property tax history

-2.2%/yr

Latest (2025): $6,224 · +30.6% YoY. Source: county tax records.