24 5th Ave #921 · New York, NY 10011

$425,000

None bd · 1.0 ba · — sqft · Condo · 342 Days on market

Built 1926 $1207/mo HOA · 11% of rent ↓ 6% 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 +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 24 Fifth Avenue, Apt. 921 - a beautifully updated apartment located in one of Greenwich Village's most iconic pre-war buildings. Once the famed Fifth Avenue Hotel, this historic residence combines timeless elegance with modern comfort in arguably the most desirable neighborhoods in Manhattan. This studio features high ceilings, recently gut renovated bathroom, an efficient kitchen outfitted with a new dishwasher and refrigerator, and updated oak hardwood floors, creating a warm and inviting atmosphere throughout. The layout is thoughtfully designed to maximize space; perfect for effortless daily living. A spacious walk-in closet provides excellent storage, enhancing both form a

Key facts

• Efficient kitchen
• New refrigerator
• New dishwasher

Tags

• GUT RENOVATED BATHROOM
• EFFICIENT KITCHEN
• NEW DISHWASHER
• NEW REFRIGERATOR
• UPDATED OAK HARDWOOD FLOORS
• SPACIOUS WALK-IN CLOSET

Property features AI

Finance

• Other: Total units in building: 420
• Financial info: Has land lease
• HOA & community: Monthly association fee of $1,207; Pets allowed in building

Exterior

• Security: Concierge
• Home design: Located on entry level 9; 18-story building; Building name: 24 Fifth Avenue
• Construction: Elevator access; Bike storage
• Exterior features: Private outdoor space (under 60 sqft); West-facing exposure

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 total rooms (includes bedroom count in total rooms)
• Bathrooms: 1 full bathroom
• Interior features: High ceilings; Walk-in closet(s)
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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 (+7.1%/yr); 461 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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 $10,833/mo this rent would consume 89% of the median local household income ($146k/yr) (locally 3446% 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 $26k of equity ($3k loan paydown + $23k appreciation (5.3% 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 (5.3% appreciation + 7.1% rent growth), your $119k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 342 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 342 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 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 2.55% ✓
• Cap rate: 18.76%
• Cash-on-cash: 44.51%
• DSCR: 2.98
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.34% appreciation · 7.06% rent growth · sell at horizon

5-year hold

• IRR: 56.3%
• Equity multiple: 4.62×
• Total profit: $430,253
• Equity at exit: $249,778

10-year hold

• IRR: 55.9%
• Equity multiple: 10.80×
• Total profit: $1,165,779
• Equity at exit: $438,659

Cash invested: $119,000 (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 10011

• Home prices YoY: 2.6%
• Rents YoY: 7.1%
• Active inventory: 461
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $10,833 high
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,207
• Vacancy / Maint / Mgmt: −$2,275
• Net cashflow: $4,347

Break-even live

Break-even rent $5,330

Max offer price $425,000

Occupancy floor 55%

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: $106,250
• Closing costs: $12,750
• 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	$15,690	$14.02	5d	2	0.04mi
10 5th Ave Unit 1255906P New York, NY	2.0	1.0	990	$18,150	$18.33	5d	2	0.05mi
11 5th Ave Unit 20-X New York, NY	2.0	1.0	—	$7,900	—	7d	1	0.05mi
15 E 11th St New York, NY	3.0	1.0	—	$8,108	—	7d	1	0.11mi
28 E 10th St Unit 10B New York, NY	2.0	2.0	1375	$16,000	$11.64	4d	1	0.13mi
71 W 10th St New York, NY	3.0	2.0	—	$12,500	—	24d	1	0.17mi
364 6th Ave Unit 1023432P New York, NY	1.0	1.0	441	$9,135	$20.71	22d	1	0.21mi
60 E 8th St New York, NY	2.0	2.0	—	$11,000	—	24d	1	0.23mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	7d	1	0.24mi
131 MacDougal St Unit 1503012P New York, NY	1.0	1.0	1270	$16,761	$13.20	24d	1	0.27mi
177 Waverly Pl Unit 1075286P New York, NY	1.0	1.0	452	$10,000	$22.12	24d	1	0.28mi
181 W 4th St Unit 1316448P New York, NY	1.0	1.0	—	$20,003	—	24d	1	0.30mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$13,210	$17.05	10d	3	0.32mi
540 6th Ave Unit 6A New York, NY	1.0	1.0	793	$8,450	$10.66	7d	1	0.32mi
10 Sheridan Sq #949 New York, NY	2.0	2.0	1000	$12,050	$12.05	20d	1	0.32mi
1 Union Sq S New York, NY	1.0–2.0	1.5–2.0	—	$14,320	—	24d	3	0.33mi
101 W 14th St Unit 10C New York, NY	1.0	1.5	—	$9,200	—	24d	1	0.33mi
145 4th Ave Unit 9F New York, NY	2.0	2.0	—	$9,900	—	24d	1	0.34mi
145 4th Ave New York, NY	2.0	2.0	—	$9,075	—	7d	3	0.34mi
145 4th Ave New York, NY	2.0	2.0	—	$9,700	—	20d	2	0.34mi
104 MacDougal St Unit 1056263P New York, NY	2.0	1.0	441	$9,375	$21.26	22d	1	0.36mi
108 W 15th St #205 New York, NY	1.0–2.0	1.0	697	$10,040	$14.39	3d	2	0.36mi
37 Cornelia St New York, NY	3.0	2.0	—	$12,495	—	24d	1	0.38mi
237 Bleecker St New York, NY	2.0	3.0	—	$8,800	—	24d	1	0.38mi
130 W 15th St New York, NY	2.0	2.0	—	$10,935	—	24d	3	0.38mi
101 W 15th St New York, NY	1.0	1.0	562	$9,550	$16.98	1d	2	0.38mi
130 W 15th St #1383 New York, NY	1.0–2.0	1.0–2.0	844	$13,770	$16.32	1d	2	0.38mi
125 E 12th St Unit 1C New York, NY	3.0	2.5	2059	$20,000	$9.71	4d	1	0.39mi
179 Sullivan St Unit 1257494P New York, NY	1.0	1.0	1248	$21,900	$17.55	24d	1	0.41mi
179 Sullivan St Unit 1255362P New York, NY	1.0–2.0	1.0	1221	$21,900	$17.94	1d	2	0.41mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$16,510	$28.71	1d	2	0.42mi
156 W 15th St Unit 1541922P New York, NY	1.0	1.0	—	$9,584	—	22d	1	0.42mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$13,688	$10.56	3d	2	0.44mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	4d	2	0.44mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	18d	1	0.45mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	22d	1	0.45mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	24d	1	0.45mi
94 Christopher St Unit 10 New York, NY	2.0	1.0	—	$7,800	—	7d	1	0.45mi
48 Barrow St Unit 1B New York, NY	3.0	1.5	—	$8,000	—	7d	1	0.46mi
35 Grove St New York, NY	1.0–2.0	1.0	—	$8,552	—	7d	2	0.46mi

HOA detail condo

• Monthly dues: $1,207 · $14,484/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $425,000 Active 342 DOM
2. 2026-06-17
   days on market $425,000 Active 341 DOM
3. 2026-06-15
   days on market $425,000 Active 339 DOM
4. 2026-06-13
   days on market $425,000 Active 337 DOM
5. 2026-06-10
   days on market $425,000 Active 333 DOM
6. 2026-06-08
   days on market $425,000 Active 332 DOM
7. 2026-06-03
   days on market $425,000 Active 327 DOM
8. 2026-06-01
   days on market $425,000 Active 325 DOM
9. 2026-05-31
   days on market $425,000 Active 324 DOM
10. 2026-04-24
    price $425,000
11. 2025-07-11
    listed $450,000 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 7/10 Severe FEMA zone X (unshaded) · 78% 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $129,995
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,922
• − Repairs & maintenance: −$10,400
• − Management: −$10,400
• − HOA: −$14,484
• − Depreciation: −$12,364
• Taxable income: $49,244
• Est. tax owed @ 24.0%: −$11,819
• After-tax cash flow: $40,351/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): 48,277
• Household income: $145,987
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 3446.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 13% Asian 10% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Lithuanian 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 8% 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: ▲ 5.34%
• Current HPI: 208.6913
• Rent YoY: ▲ 7.06%
• 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

-5.6% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $425,000 RLS at REBNY
• 2025-07-11 Listed $450,000 RLS at REBNY