579 W 215th St Unit 5A · New York, NY 10034

$330,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 218 Days on market

Built 1966 $1035/mo HOA · 30% 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• 1% rule +5.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Appreciation +4.6/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0

Listing remarks

Yes, this building has a roof deck! Spacious and bright one bedroom facing south east! Lots of sun to enjoy morning and afternoon. Windowed kitchen with many cabinets and a separate dining area is adjacent. A unique and well designed layout which you can see in the photo of the large dining area just beyond the entrance foyer and kitchen, and adjacent to the living room and the hallway which leads to the windowed bath and primary bedroom. The very large bedroom (11 x 1810" ) also faces south east. The apartment comes with custom shades, which you can use just in case you need a little less sun! The apartment needs some updating and has been priced accordingly. Seize the moment, as the

Key facts

• Custom shades
• Windowed kitchen
• Central laundry

Tags

• WINDOWED KITCHEN
• SEPARATE DINING AREA
• CUSTOM SHADES
• ELEVATOR BUILDING
• RESIDENT SUPER
• CENTRAL LAUNDRY

Property features AI

Finance

• HOA & community: Monthly association fee of $1,035; Pets allowed in the building

Exterior

• Utilities: Cooling available (window units)
• Home design: Condominium in a 10-story building; Entry on level 5; Has a view; Zoned R7-2
• Exterior features: Building roof deck; Private outdoor space (under 60 sqft); East and South exposures; Bike storage

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Window air conditioning units
• Interior features: Total of 3 rooms; Basement present (Other type)
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $330k.

Deal economics

• At list price, monthly cash flow is $-605 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (26.5% below list).
• Meets the 1% rule at list price ($3k rent vs $330k).
• Recommended offer: $242k (26.5% below list) — sets the bar for cash-flow.
• Cap rate 4.1% 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 $3,431/mo this rent would consume 61% 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 $2k 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 218 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,478 (26.5% 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 218 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — 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. 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. 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?
11. 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.
12. 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.
13. 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: 1.04% ✓
• Cap rate: 4.09%
• Cash-on-cash: -7.86%
• DSCR: 0.65
• GRM: 8.0

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: -9.8%
• Equity multiple: 0.55×
• Total profit: $-41,761
• Equity at exit: $82,624

10-year hold

• IRR: 2.7%
• Equity multiple: 1.32×
• Total profit: $29,138
• Equity at exit: $89,314

Cash invested: $92,400 (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: 8.0×

Monthly cashflow live

• Estimated rent: $3,431 medium
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• HOA: −$1,035
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $-605

Break-even live

Break-even rent $4,197

Max offer price $242,478

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: $82,500
• Closing costs: $9,900
• 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	0.52mi

HOA detail condo

• Monthly dues: $1,035 · $12,420/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $330,000 Active 218 DOM
2. 2026-06-17
   days on market $330,000 Active 217 DOM
3. 2026-06-15
   days on market $330,000 Active 215 DOM
4. 2026-06-13
   days on market $330,000 Active 213 DOM
5. 2026-06-10
   days on market $330,000 Active 209 DOM
6. 2026-06-08
   pricedays on market $330,000 Active 208 DOM
7. 2026-06-04
   days on market $335,000 Active 204 DOM
8. 2026-06-03
   days on market $335,000 Active 203 DOM
9. 2026-06-01
   days on market $335,000 Active 201 DOM
10. 2026-05-31
    days on market $335,000 Active 200 DOM
11. 2026-05-04
    price $335,000
12. 2026-03-27
    price $345,000
13. 2025-11-12
    listed $360,000 Active
14. 2023-09-04
    listed $360,000 Active
15. 2023-05-17
    price $360,000
16. 2023-03-09
    listed $370,000 Active
17. 2014-02-21
    listed $270,000
18. 2014-02-21
    listed $265,000
19. 2014-02-21
    listed $259,000
20. 2014-02-21
    listed $259,000

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 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: $41,175
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,294
• − Management: −$3,294
• − HOA: −$12,420
• − Depreciation: −$9,600
• Taxable loss: −$12,518
• Est. tax savings @ 24.0%: +$3,004
• After-tax cash flow: $-4,254/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

+24.1% since first listed

10 events — show timeline

• 2026-05-04 Price Changed $335,000 RLS at REBNY
• 2026-03-27 Price Changed $345,000 RLS at REBNY
• 2025-11-12 Listed $360,000 RLS at REBNY
• 2023-09-04 Listed $360,000 RLS at REBNY
• 2023-05-17 Price Changed $360,000 RLS at REBNY
• 2023-03-09 Listed $370,000 RLS at REBNY
• 2014-02-21 Listed $259,000 RLS at REBNY
• 2014-02-21 Listed $259,000 RLS at REBNY
• 2014-02-21 Listed $265,000 RLS at REBNY
• 2014-02-21 Listed $270,000 RLS at REBNY