60 E 9th St #428 · New York, NY 10003

$975,000

1 bd · 1.0 ba · 850 sqft · Condo · 33 Days on market

Built 1954 $2259/mo HOA · 28% of rent

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

• Appreciation +9.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Cash flow +4.3/30.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Residence 428 at The Hamilton is a generously proportioned one-bedroom home offering expansive living space in the heart of Downtown Manhattan. A welcoming foyer opens into a vast, sun-filled 21-foot living room with ample space for both relaxing and entertaining, complemented by a separate dining area, breakfast bar, hardwood floors, abundant closet space, and charming views of Grace Church from the oversized bedroom. The open kitchen is thoughtfully designed with a window, extensive limestone countertops, plentiful cabinetry, and premium stainless steel appliances including a Viking wine cooler, KitchenAid refrigerator, and DCS range. The spacious marble bathroom features floor-to-ceiling

Key facts

• Breakfast bar
• Hardwood floors
• Open kitchen

Tags

• SUN-FILLED LIVING ROOM
• SEPARATE DINING AREA
• BREAKFAST BAR
• HARDWOOD FLOORS
• ABUNDANT CLOSET SPACE
• OPEN KITCHEN

Property features AI

Finance

• Other: Pets allowed on a case-by-case basis; cats and dogs OK
• Financial info: Building has 214 total units
• HOA & community: Monthly association fee; Association fee $2,259; Building amenities: bike storage, concierge, elevators, package room, storage

Exterior

• Parking: Garage parking
• Home design: Entry level on 4th floor
• Construction: The Hamilton (building name); 6-story building
• Exterior features: Building courtyard; Building garden; North and south exposures

Interior

• Kitchen: Cooktop; Gas cooktop; Gas oven; Dishwasher; Refrigerator; Stainless steel appliances; Wine cooler
• Bedrooms: Total of 3 rooms (includes sleeping areas)
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Interior features: Double-pane windows; Breakfast bar; Entrance foyer; Unfurnished
• Laundry & utility: Common on-floor laundry; Common area laundry; Intercom

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $975k.

Deal economics

• At list price, monthly cash flow is $-3k ($-31k/yr) — negative.
• To cash-flow at today's rent, offer at most $600k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $811k (16.8% below list).
• Recommended offer: $600k (38.4% 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 (+9.2%/yr); 361 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $8,110/mo this rent would consume 63% of the median local household income ($154k/yr) (locally 3480% 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 $98k of equity ($7k loan paydown + $91k appreciation (9.3% 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 ~$157k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 28% of rent; built in 1954 — 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 $600,257 (38.4% 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 33 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 3.11%
• Cash-on-cash: -11.38%
• DSCR: 0.49
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.32% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.34×
• Total profit: $365,286
• Equity at exit: $830,321

10-year hold

• IRR: 17.3%
• Equity multiple: 5.78×
• Total profit: $1,304,358
• Equity at exit: $1,741,852

Cash invested: $273,000 (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 10003

• Home prices YoY: 3.4%
• Rents YoY: 9.2%
• Active inventory: 361
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $8,110 high
• Mortgage (P&I): −$5,113
• Tax est. 1.5%: −$1,219 /mo · $14,625/yr
• Insurance: −$406
• HOA: −$2,259
• Vacancy / Maint / Mgmt: −$1,703
• Net cashflow: $-2,590

Break-even live

Break-even rent $11,389

Max offer price $600,257

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 E 9th St Unit 1541442P New York, NY	1.0–2.0	1.0	1119	$11,796	$10.54	5d	2	0.17mi
10 5th Ave Unit 1255906P New York, NY	2.0	1.0	990	$12,196	$12.32	5d	2	0.21mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,740	$11.72	2d	2	0.23mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	4d	2	0.25mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	11d	3	0.27mi
166 2nd Ave Unit 9KK New York, NY	2.0	1.5	950	$8,100	$8.53	8d	1	0.36mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$8,078	$7.62	1d	1	0.46mi
540 6th Ave Unit 6A New York, NY	1.0	1.0	793	$8,450	$10.66	8d	1	0.49mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	25d	1	0.50mi
10 Sheridan Sq #949 New York, NY	2.0	2.0	1000	$12,050	$12.05	21d	1	0.51mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	5d	2	0.53mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$6,120	$7.56	5d	3	0.53mi
108 W 15th St #205 New York, NY	1.0–2.0	1.0	697	$6,050	$8.67	4d	2	0.54mi
101 W 15th St New York, NY	1.0	1.0	562	$9,550	$16.98	2d	2	0.55mi
130 W 15th St #1383 New York, NY	1.0–2.0	1.0–2.0	844	$9,200	$10.90	2d	2	0.56mi
52 Barrow St #2123 New York, NY	1.0–2.0	1.0	547	$6,420	$11.73	11d	3	0.62mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	22d	1	0.64mi
120 Christopher St #1886 New York, NY	1.0–2.0	1.0	574	$5,680	$9.89	2d	3	0.67mi
16 Spring St Unit GROUND New York, NY	—	1.0	850	$20,000	$23.53	25d	1	0.68mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	2d	1	0.69mi
87 Perry St New York, NY	2.0	2.0	748	$18,500	$24.73	25d	1	0.69mi
290 3rd Ave #279 New York, NY	1.0	1.0	607	$9,740	$16.03	4d	2	0.71mi
290 W 12th St #1592 New York, NY	1.0–2.0	1.0–2.0	515	$7,110	$13.81	8d	2	0.73mi
535 Hudson St #1032 New York, NY	1.0–2.0	1.0	550	$6,030	$10.96	8d	2	0.74mi
120 W 21st St New York, NY	2.0	1.0–2.0	676	$7,070	$10.46	5d	14	0.76mi
139 Christopher St Unit 1021914P New York, NY	1.0–2.0	1.0	667	$5,340	$8.01	8d	2	0.76mi
302 W 11th St #990 New York, NY	2.0–3.0	1.0–2.0	1050	$8,360	$7.96	4d	2	0.77mi
180 W 20th St #1202 New York, NY	2.0	1.0–2.0	791	$9,505	$12.01	2d	3	0.78mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$6,950	$10.69	8d	2	0.78mi
140 Charles St Unit 14A New York, NY	1.0	1.0	648	$8,000	$12.35	8d	1	0.81mi
120 W 23rd St #693 New York, NY	2.0	2.0	900	$10,140	$11.27	21d	1	0.83mi
401 West St Unit 5A New York, NY	1.0	2.0	811	$39,500	$48.71	22d	1	0.90mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$7,860	$9.25	2d	2	0.92mi
776 6th Ave New York, NY	2.0	1.0–2.0	756	$7,743	$10.24	1d	18	0.94mi
160 W 24th St New York, NY	2.0	1.0–2.0	731	$7,896	$10.79	1d	12	0.94mi
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	25d	1	0.95mi
241 5th Ave Unit 11A New York, NY	2.0	2.0	991	$8,995	$9.08	25d	1	0.96mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	25d	1	0.99mi
10 E 29th St New York, NY	1.0–3.0	1.0–3.0	1323	$6,283	$4.75	1d	4	1.02mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$7,970	$9.38	2d	2	1.02mi

HOA detail condo

• Monthly dues: $2,259 · $27,108/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-17
   days on market $975,000 Active 33 DOM
2. 2026-06-16
   days on market $975,000 Active 32 DOM
3. 2026-06-15
   days on market $975,000 Active 31 DOM
4. 2026-06-13
   days on market $975,000 Active 29 DOM
5. 2026-06-10
   days on market $975,000 Active 25 DOM
6. 2026-06-08
   days on market $975,000 Active 24 DOM
7. 2026-06-08
   days on market $975,000 Active 23 DOM
8. 2026-06-04
   days on market $975,000 Active 20 DOM
9. 2026-06-03
   days on market $975,000 Active 19 DOM
10. 2026-06-02
    days on market $975,000 Active 18 DOM
11. 2026-06-01
    days on market $975,000 Active 17 DOM
12. 2026-05-31
    days on market $975,000 Active 16 DOM
13. 2026-05-13
    listed $975,000 Active
14. 2018-10-24
    price $975,000
15. 2018-01-27
    listed $975,000 Active
16. 2018-01-27
    listed $940,000
17. 2018-01-27
    listed $995,000 Active
18. 2014-03-14
    price $799,000
19. 2013-11-25
    listed $785,000

ⓘ 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 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,325
• − Mortgage interest: −$54,615
• − Property taxes: −$14,625
• − Insurance: −$4,875
• − Repairs & maintenance: −$7,786
• − Management: −$7,786
• − HOA: −$27,108
• − Depreciation: −$28,364
• Taxable loss: −$47,834
• Est. tax savings @ 24.0%: +$11,480
• After-tax cash flow: $-19,597/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): 53,560
• Household income: $154,262
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 3480.0

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: Majority White (64%)
• Race & ethnicity: White 64% Asian 18% Hispanic / Latino 10% Two or more races 8% Black 4%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 5% Lithuanian 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 78% English-only · Spanish 5% Chinese 4% French/Haitian/Cajun 3%

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: ▲ 9.32%
• Current HPI: 284.9232
• Rent YoY: ▲ 9.24%
• 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

+24.2% since first listed

7 events — show timeline

• 2026-05-13 Listed $975,000 RLS at REBNY
• 2018-10-24 Price Changed $975,000 RLS at REBNY
• 2018-01-27 Listed $995,000 RLS at REBNY
• 2018-01-27 Listed $940,000 RLS at REBNY
• 2018-01-27 Listed $975,000 RLS at REBNY
• 2014-03-14 Price Changed $799,000 RLS at REBNY
• 2013-11-25 Listed $785,000 RLS at REBNY