571 Academy St Unit 3B · New York, NY 10034

$375,000

1 bd · 1.0 ba · 647 sqft · Condo public records · 57 Days on market

Built 1941 $537/mo HOA · 16% 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).

• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Appreciation +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks

Welcome to 3B at 571 Academy Street — your entry point into ownership, and one of Inwood's most compelling values. This bright, well-proportioned condominium delivers the features that matter most: abundant closet space, a windowed kitchen and bathroom, and a bedroom that comfortably fits a king-sized bed. The open-concept kitchen — outfitted with stainless steel appliances and generous storage — flows into a living area spacious enough for both a seating arrangement and a dining setup, or a thoughtfully configured work-from-home space. Light is a genuine asset here. The bedroom offers a full wall of closets and the kind of natural light that makes a home feel twice its s

Key facts

• Open concept kitchen
• Windowed kitchen
• Laundry on site

Tags

• ABUNDANT CLOSET SPACE
• WINDOWED KITCHEN
• WINDOWED BATHROOM
• LAUNDRY ON SITE
• OPEN CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Building contains 89 units
• Financial info: Pets allowed in building
• HOA & community: Monthly association fee of $537

Exterior

• Home design: Condominium (Academy Twins Condominium); 5-story building; Entry on level 3
• Construction: Elevator-served building
• Exterior features: East exposure

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; Hardwood floors
• Laundry & utility: Common on-floor laundry; Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $-382 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (13.2% below list).
• Recommended offer: $308k (18.0% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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 (+9.9%/yr); 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,256/mo this rent would consume 58% of the median local household income ($68k/yr) (locally 3612% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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: built in 1941 — 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 $307,554 (18.0% 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 57 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1941 — 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: 0.87% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.36%
• DSCR: 0.81
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.81% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.70×
• Total profit: $-31,907
• Equity at exit: $93,891

10-year hold

• IRR: 4.5%
• Equity multiple: 1.52×
• Total profit: $54,159
• Equity at exit: $101,493

Cash invested: $105,000 (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 10034

• Home prices YoY: -0.7%
• Rents YoY: 9.9%
• Active inventory: 32
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,256 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$294 /mo · $3,528/yr
• Insurance: −$156
• HOA: −$537
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $-382

Break-even live

Break-even rent $3,739

Max offer price $307,554

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	22d	3	1.11mi

HOA detail condo

• Monthly dues: $537 · $6,444/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $375,000 Active 57 DOM
2. 2026-06-17
   days on market $375,000 Active 56 DOM
3. 2026-06-16
   days on market $375,000 Active 55 DOM
4. 2026-06-15
   days on market $375,000 Active 54 DOM
5. 2026-06-13
   days on market $375,000 Active 52 DOM
6. 2026-06-10
   days on market $375,000 Active 48 DOM
7. 2026-06-08
   days on market $375,000 Active 47 DOM
8. 2026-06-08
   days on market $375,000 Active 46 DOM
9. 2026-06-04
   days on market $375,000 Active 43 DOM
10. 2026-06-03
    days on market $375,000 Active 42 DOM
11. 2026-06-01
    days on market $375,000 Active 40 DOM
12. 2026-05-31
    days on market $375,000 Active 39 DOM
13. 2026-04-22
    listed $375,000 Active
14. 2023-04-20
    price $375,000
15. 2023-04-19
    soldstatus $375,000
16. 2023-01-31
    historical
17. 2022-10-19
    listed $385,000 Active
18. 2022-10-19
    listed $385,000 Active
19. 2017-11-17
    soldstatus $411,000
20. 2006-05-31
    soldstatus $265,000
21. 1990-07-18
    soldstatus $98,500

ⓘ 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: $3,528 · $294/mo
• Projected year-2 tax: $4,933 · $411/mo
• Expected delta: +$1,405/yr (+$117/mo · 39.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 23% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,069
• − Mortgage interest: −$21,006
• − Property taxes: −$3,528
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,126
• − Management: −$3,126
• − HOA: −$6,444
• − Depreciation: −$10,909
• Taxable loss: −$10,945
• Est. tax savings @ 24.0%: +$2,627
• After-tax cash flow: $-1,955/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): 37,758
• Household income: $67,754
• Rent vs Own: 88.4% rent · 11.6% own
• Severe rent burden: 3612.0

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 Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 21% White 19% Black 7% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 1% Dominican 50%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 34% English-only · Spanish 60% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -0.81%
• Current HPI: 119.12
• Rent YoY: ▲ 9.92%
• 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

+280.7% since first listed

9 events — show timeline

• 2026-04-22 Listed $375,000 RLS at REBNY
• 2023-04-20 Price Changed $375,000 RLS at REBNY
• 2023-04-19 Sold (Public Records) $375,000 Public Records
• 2023-01-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-10-19 Listed $385,000 RLS at REBNY
• 2022-10-19 Listed $385,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-17 Sold (Public Records) $411,000 Public Records
• 2006-05-31 Sold (Public Records) $265,000 Public Records
• 1990-07-18 Sold (Public Records) $98,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,528 · -2.3% YoY. Source: county tax records.