179 Grand St Unit 4G · New York, NY 10013

$1,325,000

1 bd · 1.0 ba · 870 sqft · Condo public records · 64 Days on market

Built 1989 $700/mo HOA · 9% 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 +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.5/30.0
• Schools +5.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks

Rarely available! This south-facing, renovated one-bedroom nestled in the heart of Nolita, is filled with abundant natural light pours through the oversized windows in each room. The open layout features a dining room and option to convert into a two bedroom. Tucked away at the rear of the building, this apartment offers peaceful living with open sky views. The windowed, open kitchen was thoughtfully renovated with an oversized breakfast nook, full-sized appliances, including a dishwasher, a sleek range hood, granite countertops, glass mosaic backsplash, and a newly updated faucet. The bathroom is finished with porcelain tile flooring and walls, complemented by a vanity with a quartz-styl

Key facts

• Renovated
• Open layout
• Oversized windows

Tags

• RENOVATED
• ABUNDANT NATURAL LIGHT
• OVERSIZED WINDOWS
• OPEN LAYOUT
• WINDOWED OPEN KITCHEN
• OVERSIZED BREAKFAST NOOK

Property features AI

Finance

• Other: Total units in building: 39; Pets allowed in building
• HOA & community: Monthly association fee of $700; Building has elevator(s)

Exterior

• Home design: 7-story building; Entry on level 4; Building name: LA GRANDE
• Construction: Zoning: C6-2G
• Exterior features: No notable exterior features listed; South exposure

Interior

• Kitchen: Dishwasher
• Bedrooms: Bedroom count not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Dual cooling
• Interior features: 3 total rooms; Basement: Other
• Laundry & utility: Washer hookup; In-unit laundry; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $-3k ($-34k/yr) — negative.
• To cash-flow at today's rent, offer at most $830k (37.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $803k (39.4% below list).
• Recommended offer: $803k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 3.8% 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 (+9.4%/yr); 225 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $8,026/mo this rent would consume 60% of the median local household income ($161k/yr) (locally 2000% 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 $142k of equity ($9k loan paydown + $132k appreciation (10.0% 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 ~$228k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($1.25M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $164k; list at $1.32M implies a 708% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $802,572 (39.4% 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 64 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
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. 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: 0.61% ✗
• Cap rate: 3.76%
• Cash-on-cash: -9.06%
• DSCR: 0.60
• GRM: 13.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 2.58×
• Total profit: $585,779
• Equity at exit: $1,193,665

10-year hold

• IRR: 18.7%
• Equity multiple: 6.31×
• Total profit: $1,970,593
• Equity at exit: $2,574,184

Cash invested: $371,000 (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 10013

• Home prices YoY: 4.4%
• Rents YoY: 9.4%
• Active inventory: 225
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $8,026 high
• Mortgage (P&I): −$6,948
• Tax from tax record: −$940 /mo · $11,286/yr
• Insurance: −$552
• HOA: −$700
• Vacancy / Maint / Mgmt: −$1,685
• Net cashflow: $-2,801

Break-even live

Break-even rent $11,571

Max offer price $830,248

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: $331,250
• Closing costs: $39,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	25d	1	0.09mi
16 Spring St Unit GROUND New York, NY	—	1.0	850	$20,000	$23.53	25d	1	0.22mi
111 Worth St New York, NY	1.0–2.0	1.0–2.0	747	$6,077	$8.14	8d	7	0.35mi
88 Leonard St New York, NY	1.0	1.0	598	$7,966	$13.32	8d	13	0.38mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$6,120	$7.56	5d	3	0.46mi
105 Duane St #183 New York, NY	2.0	1.0–2.0	821	$9,000	$10.96	2d	3	0.48mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$8,078	$7.62	1d	1	0.49mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$7,860	$9.25	2d	2	0.53mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$7,970	$9.38	2d	2	0.63mi
252 South St Unit 74B New York, NY	2.0	2.0	1034	$8,995	$8.70	18d	1	0.66mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$6,950	$10.69	8d	2	0.69mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	5d	2	0.75mi
211 Front St Unit 1255364P New York, NY	1.0	1.0	990	$11,206	$11.32	25d	1	0.85mi
400 Chambers St #587 New York, NY	2.0	1.0–1.5	675	$7,370	$10.91	8d	3	0.90mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$8,040	$11.04	3d	2	0.91mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	4d	2	0.93mi
10 5th Ave Unit 1255906P New York, NY	2.0	1.0	990	$12,196	$12.32	5d	2	0.93mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	22d	1	0.94mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,740	$11.72	2d	2	0.95mi
3 E 9th St Unit 1541442P New York, NY	1.0–2.0	1.0	1119	$11,796	$10.54	5d	2	0.96mi
52 Barrow St #2123 New York, NY	1.0–2.0	1.0	547	$6,420	$11.73	11d	3	0.97mi
166 2nd Ave Unit 9KK New York, NY	2.0	1.5	950	$8,100	$8.53	8d	1	0.97mi
10 Sheridan Sq #949 New York, NY	2.0	2.0	1000	$12,050	$12.05	21d	1	1.01mi
120 Christopher St #1886 New York, NY	1.0–2.0	1.0	574	$5,680	$9.89	2d	3	1.05mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$5,750	$9.03	3d	2	1.08mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	25d	1	1.08mi
139 Christopher St Unit 1021914P New York, NY	1.0–2.0	1.0	667	$5,340	$8.01	8d	2	1.08mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	25d	1	1.10mi
95 Wall St New York, NY	2.0	1.0–2.0	733	$5,862	$8.00	2d	39	1.10mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	11d	3	1.13mi
389 S End Ave New York, NY	3.0	1.0–2.0	1080	$6,685	$6.19	1d	36	1.13mi
15 William St New York, NY	1.0–2.0	1.0–2.0	822	$3,500	$4.26	8d	10	1.14mi
10 Hanover Sq New York, NY	2.0	1.0–2.0	790	$5,948	$7.53	2d	25	1.14mi
3 Hanover Sq New York, NY	3.0	1.0–2.0	600	$4,534	$7.56	25d	5	1.15mi
140 Charles St Unit 14A New York, NY	1.0	1.0	648	$8,000	$12.35	8d	1	1.15mi
535 Hudson St #1032 New York, NY	1.0–2.0	1.0	550	$6,030	$10.96	8d	2	1.16mi
401 West St Unit 5A New York, NY	1.0	2.0	811	$39,500	$48.71	22d	1	1.19mi
87 Perry St New York, NY	2.0	2.0	748	$18,500	$24.73	25d	1	1.19mi
302 W 11th St #990 New York, NY	2.0–3.0	1.0–2.0	1050	$8,360	$7.96	4d	2	1.23mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	25d	2	1.29mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $1,325,000 Active 64 DOM
2. 2026-06-17
   days on market $1,325,000 Active 63 DOM
3. 2026-06-15
   days on market $1,325,000 Active 61 DOM
4. 2026-06-13
   days on market $1,325,000 Active 59 DOM
5. 2026-06-10
   days on market $1,325,000 Active 55 DOM
6. 2026-06-08
   days on market $1,325,000 Active 54 DOM
7. 2026-06-08
   days on market $1,325,000 Active 53 DOM
8. 2026-06-04
   days on market $1,325,000 Active 50 DOM
9. 2026-06-03
   days on market $1,325,000 Active 49 DOM
10. 2026-06-01
    days on market $1,325,000 Active 47 DOM
11. 2026-05-31
    pricedays on market $1,325,000 Active 46 DOM
12. 2026-04-15
    listed $1,375,000 Active
13. 1993-07-14
    soldstatus $164,000

ⓘ 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: $11,286 · $940/mo
• Projected year-2 tax: $16,839 · $1,403/mo
• Expected delta: +$5,553/yr (+$463/mo · 49.2%)

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

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: $96,309
• − Mortgage interest: −$74,221
• − Property taxes: −$11,286
• − Insurance: −$6,625
• − Repairs & maintenance: −$7,705
• − Management: −$7,705
• − HOA: −$8,400
• − Depreciation: −$38,545
• Taxable loss: −$58,177
• Est. tax savings @ 24.0%: +$13,963
• After-tax cash flow: $-19,646/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): 27,219
• Household income: $161,154
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2000.0

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 0.62)
• Race & ethnicity: White 53% Asian 31% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Scotch-Irish 4% Romanian 3% Scandinavian 3%
• Foreign-born: 31% · China, Canada, South Korea
• Languages at home: 65% English-only · Chinese 19% Other Indo-European 7% Spanish 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: ▲ 10.12%
• Current HPI: 239.8397
• Rent YoY: ▲ 9.40%
• 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

+738.4% since first listed

2 events — show timeline

• 2026-04-15 Listed $1,375,000 RLS at REBNY
• 1993-07-14 Sold (Public Records) $164,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $11,286 · +1.0% YoY. Source: county tax records.