15 East 131 St Unit 2A · New York, NY 10037

$550,000

2 bd · 1.5 ba · 1,128 sqft · Townhouse · 7 Days on market

Built 1920 Good condition

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Why this score? — see what drove the B 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• Appreciation +6.9/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

Welcome to Madison Avenue HDFC, a well-maintained 12-building, 113-unit cooperative community ideally situated in the heart of Central Harlem. This newly renovated approximately 1,119-square-foot two-bedroom, one-and-a-half-bath duplex offers a highly flexible layout across two levels of living space with the rare convenience of two private entrances. Thoughtfully designed for both everyday living and entertaining, the home features hardwood oak floors throughout, high ceilings, and south- and northeast-facing windows that provide excellent natural light throughout the day. The main level features an expansive south-facing living and dining area, a renovated windowed kitchen with stainless

Key facts

• Walk-in closet
• Renovated half bath
• Built 1920

Tags

• TWO PRIVATE ENTRANCES
• RENOVATED WINDOWED KITCHEN
• STAINLESS STEEL APPLIANCES
• RENOVATED HALF BATH
• WALK-IN CLOSET
• PRIVATE BEDROOM LEVEL

Property features AI

Finance

• Other: Pets allowed (dogs OK)
• Financial info: Building contains 8 total units
• HOA & community: Monthly association fee of $1,240

Exterior

• Home design: Located on entry level 2; Five-story building
• Exterior features: No notable exterior features listed; South exposures; Has a view

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Walk-in closet
• Laundry & utility: Building laundry

🏢 Co-op / cooperative unit. The $550,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $550k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Cap rate 8.3% 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: 24 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($4k loan paydown + $21k appreciation (3.7% 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 (3.7% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $550,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $735,456
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 W 122nd St Unit C	0.51mi	2/2.0	1,122 (-0%)	3mo	$1,100,000	$980	71
1901 Madison Ave #105	0.43mi	3/2.0 (+1)	1,100 (-2%)	5mo	$530,000	$482	64
69 E 125th St Unit 5A126	0.30mi	2/2.0	1,198 (+6%)	24mo	$1,975,000	$1,649	54
1901 Madison Ave #330	0.43mi	3/2.0 (+1)	1,100 (-2%)	19mo	$440,000	$400	53
108 Odell Clark Pl Unit 2B	0.44mi	1/1.0 (-1)	1,008 (-11%)	7mo	$599,000	$594	49
2611 Frederick Douglass Blvd Unit 5D	0.73mi	2/1.0	1,000 (-11%)	4mo	$680,000	$680	42
1787 Madison Ave #507	0.69mi	3/2.0 (+1)	1,197 (+6%)	16mo	$780,000	$652	37
100 W 121 St #64	0.59mi	3/1.5 (+1)	1,000 (-11%)	22mo	$600,000	$600	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.96×
• Total profit: $147,730
• Equity at exit: $270,498

10-year hold

• IRR: 17.2%
• Equity multiple: 3.70×
• Total profit: $416,468
• Equity at exit: $435,880

Cash invested: $154,000 (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 10037

• Home prices YoY: 2.3%
• Active inventory: 24
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $5,995 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,259
• Net cashflow: $935

Break-even live

Break-even rent $4,811

Max offer price $550,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,316	-5% $1,126	+0% $935	+5% $745	+10% $555
Rent	-10% $462	-5% $699	+0% $935	+5% $1,172	+10% $1,409
Rate	-1.0pp $1,212	-0.5pp $1,075	base $935	+0.5pp $793	+1.0pp $648

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,022	$4.69	2d	21	0.35mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	27d	1	0.40mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,138	$5.08	0d	184	0.43mi
241 Lenox Ave #1 New York, NY	1.0	1.0	1175	$8,000	$6.81	21d	1	0.55mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	27d	1	0.59mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	7d	1	0.66mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	14d	1	0.86mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	10d	1	0.86mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	14d	1	0.86mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	14d	1	0.87mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	27d	1	0.88mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	27d	1	0.97mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	27d	1	1.07mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	13d	1	1.15mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	5d	7	1.15mi
319 E 109th St Unit 1021947P New York, NY	3.0	1.0	818	$7,260	$8.88	8d	1	1.23mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$8,940	$11.45	2d	2	1.24mi
309 E 108th St New York, NY	3.0	1.0	1500	$5,400	$3.60	27d	1	1.26mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,212	$4.96	0d	1	1.35mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	2d	1	1.39mi
1399 Park Ave Unit 10C New York, NY	2.0	2.0	962	$5,500	$5.72	2d	1	1.41mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	27d	1	1.42mi

Listing history 8 events

1. 2026-06-22
   days on market $550,000 Active 7 DOM
2. 2026-06-21
   days on market $550,000 Active 6 DOM
3. 2026-06-18
   days on market $550,000 Active 3 DOM
4. 2026-06-17
   days on market $550,000 Active 2 DOM
5. 2026-06-16
   days on marketlisting id $550,000 Active 1 DOM
6. 2026-06-15
   days on market $550,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $550,000 Active 1 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 · 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: $71,945
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,756
• − Management: −$5,756
• − Depreciation: −$16,000
• Taxable income: $2,626
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $10,596/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 · 10 photos

Good 80/100 Cosmetic rehab

This well-maintained, newly renovated townhouse in Madison Avenue HDFC offers a good condition with minimal repairs needed. It's ideal for both resale and rental due to its updated interiors and location.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping the front yard — Improves curb appeal and rental value
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and attracts buyers
• Both Adding smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping the front yard — Improves curb appeal and rental value ↑
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and attracts buyers ↑
• Both Adding smart home features — Enhances convenience and marketability ↑

ⓘ 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
• City population: 7,731,280
• Population (ZIP): 18,333

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 0.58)
• Race & ethnicity: Black 60% Hispanic / Latino 21% Two or more races 11% White 11% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 9%
• Common ancestry: Scotch-Irish 1% Hispanic 1% Russian 1%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 74% English-only · Spanish 15% French/Haitian/Cajun 2% Arabic 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: ▲ 3.74%
• Current HPI: 166.9692
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-13 Listed $550,000 RLS at REBNY