11 St Nicholas Ave Unit 5B · New York, NY 10026

$185,000

1 bd · 1.0 ba · 700 sqft · Condo · 166 Days on market

Built 1900 $1144/mo HOA · 22% of rent ↓ 26% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

- Cash only, no bank lending - No mortgage - HDFC co-op with income restrictions Make your home just one block from Central Park in this spacious one-bedroom co-op in a South Harlem HDFC building. Income restrictions apply. Household income restrictions of 165% AMI apply: 1 Person = $154,110 2 People = $176,220 3 People = $198,165 4 People = $220,110 5 People = $237,765 Inside this prewar home, you'll find hardwood floors, tall ceilings, excellent storage and oversized windows on three exposures. A foyer opens to a large living room offering a generous footprint for seating and dining areas alongside another roomy closet. Ahead, you'll find an extra wide hallway perfect for a home office

Key facts

• Tall ceilings
• Windowed kitchen
• Ample cabinet space

Tags

• HARDWOOD FLOORS
• TALL CEILINGS
• EXCELLENT STORAGE
• OVERSIZED WINDOWS
• WINDOWED KITCHEN
• AMPLE CABINET SPACE

Property features AI

Finance

• Other: Pets allowed (cats and dogs permitted; building allows pets)
• Financial info: Building contains 36 total units
• HOA & community: Monthly association fee of $1,144

Exterior

• Home design: Entry on level 5
• Construction: 5-story building
• Exterior features: East and West exposures; Has a view

Interior

• Bedrooms: 3 total rooms (configuration not specified)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Interior features: High ceilings; Unfurnished
• Laundry & utility: Building allows washer/dryer installation; Common washer/dryer on the floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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: Rents rising (+2.5%/yr); 96 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,277/mo this rent would consume 78% of the median local household income ($81k/yr) (locally 2685% 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 $11k of equity ($1k loan paydown + $10k 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 + 2.5% rent growth), your $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent; built in 1900 — 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 2.85% ✓
• Cap rate: 17.62%
• Cash-on-cash: 40.45%
• DSCR: 2.80
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.26% appreciation · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 48.7%
• Equity multiple: 3.98×
• Total profit: $154,513
• Equity at exit: $107,750

10-year hold

• IRR: 46.0%
• Equity multiple: 8.06×
• Total profit: $365,801
• Equity at exit: $188,416

Cash invested: $51,800 (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 10026

• Home prices YoY: 1.6%
• Rents YoY: 2.5%
• Active inventory: 96
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $5,277 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$1,144
• Vacancy / Maint / Mgmt: −$1,108
• Net cashflow: $1,746

Break-even live

Break-even rent $3,066

Max offer price $185,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,874	-5% $1,810	+0% $1,746	+5% $1,682	+10% $1,618
Rent	-10% $1,329	-5% $1,538	+0% $1,746	+5% $1,954	+10% $2,163
Rate	-1.0pp $1,839	-0.5pp $1,793	base $1,746	+0.5pp $1,698	+1.0pp $1,649

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,335	$3.83	0d	1	0.51mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	1d	2	0.54mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	17d	1	0.68mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,906	$8.93	0d	30	0.79mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	23d	1	0.80mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	26d	2	0.82mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$4,800	$6.00	26d	2	0.85mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$5,497	$9.83	1d	1	0.87mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$6,070	$7.13	1d	2	0.88mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$7,403	$12.69	1d	3	0.88mi
70 W 95th St New York, NY	1.0–4.0	1.0–2.0	1095	$9,999	$9.13	18d	1	0.91mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	4d	2	0.94mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,810	$10.89	0d	1	0.99mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,420	$7.32	1d	2	1.03mi
266 W 96th St #2030 New York, NY	1.0	1.0	512	$5,800	$11.33	7d	1	1.07mi
255 W 94th St #686 New York, NY	1.0–2.0	1.0–2.0	750	$6,210	$8.28	1d	2	1.10mi
101 W 90th St New York, NY	3.0	1.0–2.5	962	$6,188	$6.43	0d	1	1.14mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	26d	1	1.16mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	5d	3	1.21mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,725	$5.73	4d	3	1.22mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,695	$5.69	5d	4	1.22mi
212 W 91st St #416 New York, NY	1.0–2.0	1.0–2.0	825	$6,050	$7.33	1d	2	1.22mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	19d	1	1.28mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	7d	1	1.28mi
210 W 89th St #165 New York, NY	1.0	1.0	600	$5,730	$9.55	1d	2	1.29mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,953	$3.44	1d	21	1.31mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	0d	181	1.31mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	22d	1	1.31mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,520	$7.97	1d	2	1.34mi
43 W 85th St Unit 1470323P New York, NY	1.0	1.0	699	$6,466	$9.25	6d	1	1.34mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	1d	2	1.38mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	5d	2	1.45mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	26d	1	1.46mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	26d	1	1.49mi

HOA detail condo

• Monthly dues: $1,144 · $13,728/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $185,000 Active 166 DOM
2. 2026-06-18
   days on market $185,000 Active 163 DOM
3. 2026-06-17
   days on market $185,000 Active 162 DOM
4. 2026-06-15
   days on market $185,000 Active 160 DOM
5. 2026-06-13
   days on market $185,000 Active 158 DOM
6. 2026-06-10
   days on market $185,000 Active 154 DOM
7. 2026-06-08
   days on market $185,000 Active 153 DOM
8. 2026-06-04
   days on market $185,000 Active 149 DOM
9. 2026-06-03
   days on market $185,000 Active 148 DOM
10. 2026-06-01
    days on market $185,000 Active 146 DOM
11. 2026-05-31
    days on market $185,000 Active 145 DOM
12. 2026-04-13
    price $185,000
13. 2026-02-09
    price $200,000
14. 2026-01-05
    listed $250,000 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 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: $63,319
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$5,066
• − Management: −$5,066
• − HOA: −$13,728
• − Depreciation: −$5,382
• Taxable income: $20,015
• Est. tax owed @ 24.0%: −$4,804
• After-tax cash flow: $16,148/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): 37,123
• Household income: $81,244
• Rent vs Own: 76.5% rent · 23.5% own
• Severe rent burden: 2685.0

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 0.69)
• Race & ethnicity: Black 45% White 25% Hispanic / Latino 18% Two or more races 11% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 8%
• Common ancestry: Lithuanian 2% Hispanic 2% Scotch-Irish 1%
• Foreign-born: 27% · Canada, China, Vietnam
• Languages at home: 67% English-only · Spanish 14% French/Haitian/Cajun 8% Other Indo-European 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: ▲ 5.26%
• Current HPI: 330.628
• Rent YoY: ▲ 2.46%
• 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

-26.0% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $185,000 RLS at REBNY
• 2026-02-09 Price Changed $200,000 RLS at REBNY
• 2026-01-05 Listed $250,000 RLS at REBNY