345 E 93rd St Unit 5J · New York, NY 10128

$585,000

1 bd · 1.0 ba · 750 sqft · Condo · 18 Days on market

Built 1975

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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).

• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Schools +5.0/10.0
• Cash flow +4.6/30.0
• 1% rule +4.4/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

As you step into your gracious foyer your welcomed with immense closet space to easily put down your belongings. Your newly updated kitchen has seating at the breakfast nook, perfect for entertaining. A six-person dining table leads you to your large living area, easily fitting comfortable seating to relax & certainly enough space for a desk if you need to work from home. Did you say you'd rather work in your bedroom? The king size bedroom affords enough space for just that & more. Your updated bathroom & ample closet space complete with custom shelving proves this unit is move in ready & truly only needs you & your toothbrush. Mill Rock Plaza has everything you need at your fingertips: a 24-hour doorman, sundeck, live-in super, laundry on every floor, bike & package room & gym. A parking garage is also attached to the building for your convenience. Pets are allowed, a limit of three dogs per household with no breed restriction upon board approval. Co-purchase, parents buying for children, guarantors & pied-a-terre are all permitted.

Key facts

• Stainless gas range
• Rain showerhead
• Renovated bath

Tags

• OPEN KITCHEN
• WHITE QUARTZ COUNTERTOPS
• STAINLESS GAS RANGE
• RENOVATED BATH
• RAIN SHOWERHEAD
• FULL-WALL CLOSET

🏢 Co-op / cooperative unit. The $585,000 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 1-bed/1.0-bath condo listed at $585k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $552k (5.6% below list).
• Recommended offer: $552k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+7.0%/yr); 313 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 45% of the median local income ($148k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $26k of equity ($4k loan paydown + $22k 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.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($576k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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: flood insurance adds $66/mo; HOA is 33% of rent.
• Climate carrying-cost: severe 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 $552,039 (5.6% 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. Built in 1975 — 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. 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: 0.94% ✗
• Cap rate: 3.25%
• Cash-on-cash: -10.88%
• DSCR: 0.52
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.74% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.12×
• Total profit: $19,359
• Equity at exit: $287,613

10-year hold

• IRR: 7.6%
• Equity multiple: 2.36×
• Total profit: $222,810
• Equity at exit: $463,381

Cash invested: $163,800 (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 10128

• Home prices YoY: 2.0%
• Rents YoY: 7.0%
• Active inventory: 313
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $5,520 high
• Mortgage (P&I): −$3,068
• Tax est. 1.5%: −$731 /mo · $8,775/yr
• Insurance: −$244
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,803
• Vacancy / Maint / Mgmt: −$1,159
• Net cashflow: $-1,551

Break-even live

Break-even rent $7,484

Max offer price $360,546

Occupancy floor —

Sensitivity live

Price	-10% $-1,147	-5% $-1,349	+0% $-1,551	+5% $-1,753	+10% $-1,955
Rent	-10% $-1,987	-5% $-1,769	+0% $-1,551	+5% $-1,333	+10% $-1,115
Rate	-1.0pp $-1,257	-0.5pp $-1,402	base $-1,551	+0.5pp $-1,703	+1.0pp $-1,857

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: $146,250
• Closing costs: $17,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	5d	3	0.06mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,520	$7.97	0d	2	0.13mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,420	$7.32	0d	2	0.19mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,810	$10.89	0d	1	0.23mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	22d	1	0.23mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	4d	2	0.29mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	19d	1	0.30mi
1377 Lexington Ave Unit 5CC New York, NY	2.0	1.0	796	$5,100	$6.41	21d	1	0.33mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	26d	1	0.34mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$7,403	$12.69	0d	3	0.35mi
305 E 86th St New York, NY	1.0–3.0	1.0–2.0	820	$3,270	$3.99	26d	10	0.35mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,050	$11.41	0d	2	0.37mi
435 E 86th St Unit 2001 New York, NY	1.0	1.0	800	$5,480	$6.85	26d	1	0.38mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	5d	2	0.39mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	0d	2	0.40mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	7d	1	0.40mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	21d	1	0.42mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	17d	1	0.54mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	23d	1	0.54mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	26d	2	0.56mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	26d	1	0.60mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	0d	1	0.61mi
125 E 83rd St Unit 1312101P New York, NY	1.0	1.0	839	$7,470	$8.90	7d	1	0.61mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$6,715	$10.55	3d	3	0.62mi
1399 Park Ave Unit 10C New York, NY	2.0	2.0	962	$5,500	$5.72	0d	1	0.64mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	20d	1	0.70mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	26d	1	0.72mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	943	$5,500	$5.83	9d	3	0.73mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	23d	1	0.77mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	26d	1	0.77mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	23d	1	0.77mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	26d	2	0.80mi
900 Park Ave New York, NY	1.0–2.0	1.5–2.5	1200	$8,000	$6.67	25d	2	0.82mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	22d	1	0.88mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	26d	1	0.89mi
404 E 76th St New York, NY	1.0–2.0	1.0–2.0	1001	$4,895	$4.89	5d	2	0.90mi
888 Main St New York, NY	3.0	1.0–2.0	908	$4,928	$5.43	0d	8	0.93mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	26d	1	0.96mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	22d	1	1.00mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	26d	1	1.00mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-06
   status Pending
2. 2026-03-19
   listed $585,000 Active
3. 2022-03-29
   price $555,000 1097-char remark

   Show marketing remark (1097 chars)

   As you step into your gracious foyer your welcomed with immense closet space to easily put down your belongings. Your newly updated kitchen has seating at the breakfast nook, perfect for entertaining. A six-person dining table leads you to your large living area, easily fitting comfortable seating to relax & certainly enough space for a desk if you need to work from home. Did you say you'd rather work in your bedroom? The king size bedroom affords enough space for just that & more. Your updated bathroom & ample closet space complete with custom shelving proves this unit is move in ready & truly only needs you & your toothbrush. Mill Rock Plaza has everything you need at your fingertips: a 24-hour doorman, sundeck, live-in super, laundry on every floor, bike & package room & gym. A parking garage is also attached to the building for your convenience. Pets are allowed, a limit of three dogs per household with no breed restriction upon board approval. Co-purchase, parents buying for children, guarantors & pied-a-terre are all permitted.

4. 2022-03-29
   soldstatus $555,000 Sold 1097-char remark

   Show marketing remark (1097 chars)

   As you step into your gracious foyer your welcomed with immense closet space to easily put down your belongings. Your newly updated kitchen has seating at the breakfast nook, perfect for entertaining. A six-person dining table leads you to your large living area, easily fitting comfortable seating to relax & certainly enough space for a desk if you need to work from home. Did you say you'd rather work in your bedroom? The king size bedroom affords enough space for just that & more. Your updated bathroom & ample closet space complete with custom shelving proves this unit is move in ready & truly only needs you & your toothbrush. Mill Rock Plaza has everything you need at your fingertips: a 24-hour doorman, sundeck, live-in super, laundry on every floor, bike & package room & gym. A parking garage is also attached to the building for your convenience. Pets are allowed, a limit of three dogs per household with no breed restriction upon board approval. Co-purchase, parents buying for children, guarantors & pied-a-terre are all permitted.

5. 2021-10-24
   status Pending
6. 2021-10-22
   historical
7. 2021-10-06
   listed $565,000 Active 1097-char remark

   Show marketing remark (1097 chars)

   As you step into your gracious foyer your welcomed with immense closet space to easily put down your belongings. Your newly updated kitchen has seating at the breakfast nook, perfect for entertaining. A six-person dining table leads you to your large living area, easily fitting comfortable seating to relax & certainly enough space for a desk if you need to work from home. Did you say you'd rather work in your bedroom? The king size bedroom affords enough space for just that & more. Your updated bathroom & ample closet space complete with custom shelving proves this unit is move in ready & truly only needs you & your toothbrush. Mill Rock Plaza has everything you need at your fingertips: a 24-hour doorman, sundeck, live-in super, laundry on every floor, bike & package room & gym. A parking garage is also attached to the building for your convenience. Pets are allowed, a limit of three dogs per household with no breed restriction upon board approval. Co-purchase, parents buying for children, guarantors & pied-a-terre are all permitted.

8. 2021-10-06
   listed $565,000 Active

   Show marketing remark (1097 chars)

   As you step into your gracious foyer your welcomed with immense closet space to easily put down your belongings. Your newly updated kitchen has seating at the breakfast nook, perfect for entertaining. A six-person dining table leads you to your large living area, easily fitting comfortable seating to relax & certainly enough space for a desk if you need to work from home. Did you say you'd rather work in your bedroom? The king size bedroom affords enough space for just that & more. Your updated bathroom & ample closet space complete with custom shelving proves this unit is move in ready & truly only needs you & your toothbrush. Mill Rock Plaza has everything you need at your fingertips: a 24-hour doorman, sundeck, live-in super, laundry on every floor, bike & package room & gym. A parking garage is also attached to the building for your convenience. Pets are allowed, a limit of three dogs per household with no breed restriction upon board approval. Co-purchase, parents buying for children, guarantors & pied-a-terre are all permitted.

ⓘ 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 8/10 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,245
• − Mortgage interest: −$32,769
• − Property taxes: −$8,775
• − Insurance: −$3,722
• − Repairs & maintenance: −$5,300
• − Management: −$5,300
• − HOA: −$21,636
• − Depreciation: −$17,018
• Taxable loss: −$28,275
• Est. tax savings @ 24.0%: +$6,786
• After-tax cash flow: $-11,828/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): 57,976
• Household income: $147,772
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 4892.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 13% Asian 10% Two or more races 9% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 1% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 6% Lithuanian 2%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Other Asian/Pacific 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: ▲ 3.74%
• Current HPI: 187.2161
• Rent YoY: ▲ 7.04%
• 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

+3.5% since first listed

8 events — show timeline

• 2026-04-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Listed $585,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-29 Price Changed $555,000 RLS at REBNY
• 2022-03-29 Sold (MLS) $555,000 RLS at REBNY
• 2021-10-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-10-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-10-06 Listed $565,000 OneKey® MLS as Distributed by MLS Grid
• 2021-10-06 Listed $565,000 RLS at REBNY