501 W 156th St #22 · New York, NY 10032

$149,997

1 bd · 1.0 ba · 500 sqft · Condo · 233 Days on market

Built 1930 $600/mo HOA · 21% of rent ↓ 50% 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

Own a Manhattan home with just a 10% down payment! Welcome to 501 West 156th Street, Unit 22, a one-bedroom, one-bathroom HDFC cooperative located in the heart of Washington Heights. Situated on the second floor with only one easy flight of stairs, this bright and efficient home offers approximately 450 square feet of comfortable living space. The layout is cozy yet functional, filled with natural light, and perfect for first-time buyers or anyone looking for an affordable way to own in New York City. Financing is simple with only 10% down required, no loan-to-value restrictions, and several banks already familiar with lending in the building. Pets are welcome, making it even easier to feel

Key facts

• Bright living space
• Nearby highways
• $600 HOA

Tags

• BRIGHT LIVING SPACE
• EASY FLIGHT OF STAIRS
• QUICK ACCESS TO MIDTOWN
• QUICK ACCESS TO DOWNTOWN
• NEARBY HIGHWAYS
• VARIETY OF SUPERMARKETS

Property features AI

Finance

• Financial info: No additional financial details provided
• HOA & community: Has association managed by ERA MANAGER; Monthly association fee of $600; Association covers gas, heat, hot water, sewer, water, trash, snow removal; Association amenities include live-in super, maintenance, grounds maintenance, security, snow removal, and trash

Exterior

• Parking: No carport
• Security: Building offers security (association amenity)
• Utilities: Electric service by Con Edison; Public sewer; Electricity available; Public trash collection
• Home design: Stock cooperative; One level; 6 total stories in building
• Construction: Brick construction; Brick/mortar foundation; Built year not provided
• Exterior features: No waterfront

Interior

• Kitchen: Gas oven; Gas range; Oven; Refrigerator
• Bedrooms: Includes a first-floor bedroom
• Flooring: Carpet; Ceramic tile; Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Finished full basement
• Laundry & utility: Washer/dryer info not provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+2.8%/yr); 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $2,884/mo this rent would consume 61% 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 $13k of equity ($1k loan paydown + $11k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent; built in 1930 — 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 $131,997 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 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 1930 — 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: 1.92% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.34%
• DSCR: 1.82
• GRM: 4.3

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: 33.8%
• Equity multiple: 3.37×
• Total profit: $99,386
• Equity at exit: $110,509

10-year hold

• IRR: 30.3%
• Equity multiple: 7.14×
• Total profit: $257,813
• Equity at exit: $216,150

Cash invested: $41,999 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,884 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$600
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $642

Break-even live

Break-even rent $2,072

Max offer price $149,997

Occupancy floor 73%

Sensitivity live

Price	-10% $746	-5% $694	+0% $642	+5% $590	+10% $538
Rent	-10% $414	-5% $528	+0% $642	+5% $756	+10% $870
Rate	-1.0pp $718	-0.5pp $680	base $642	+0.5pp $603	+1.0pp $564

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: $37,499
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	26d	1	1.24mi
1203 River Rd Unit 17M Edgewater, NJ	—	1.0	650	$2,450	$3.77	9d	1	1.43mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-05-31
   statusdays on market $149,997 Pending 233 DOM
2. 2026-04-13
   price $149,997
3. 2026-04-02
   price $175,000
4. 2026-03-23
   price $179,000
5. 2026-03-12
   price $179,997
6. 2026-03-10
   price $179,999
7. 2026-02-23
   price $180,000
8. 2026-02-20
   price $190,500
9. 2026-02-12
   price $195,000
10. 2026-02-02
    price $199,999
11. 2026-01-05
    price $205,000
12. 2025-12-15
    price $209,997
13. 2025-12-05
    price $210,000
14. 2025-11-07
    price $250,000
15. 2025-11-03
    price $259,999
16. 2025-10-07
    price $290,000
17. 2025-10-06
    listed $299,997 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 · 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: $34,611
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,769
• − Management: −$2,769
• − HOA: −$7,200
• − Depreciation: −$4,364
• Taxable income: $6,108
• Est. tax owed @ 24.0%: −$1,466
• After-tax cash flow: $6,238/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

-50.0% since first listed

16 events — show timeline

• 2026-04-13 Price Changed $149,997 OneKey® MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $179,997 OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $179,999 OneKey® MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $190,500 OneKey® MLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $199,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Price Changed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $209,997 OneKey® MLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $210,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-03 Price Changed $259,999 OneKey® MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $290,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-06 Listed $299,997 OneKey® MLS as Distributed by MLS Grid