303 W 122nd St #2 · New York, NY 10027

$239,000

1 bd · 1.0 ba · 1,650 sqft · SingleFamily · 69 Days on market

Built 1913 Fair condition $682/mo HOA · 16% of rent ↓ 4% 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
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0

Listing remarks

one bedroom , large windows , high ceilings

Key facts

• $682 HOA
• Built 1913
• Listed 68 days

Property features AI

Finance

• Other: Building contains 42 total units
• HOA & community: Monthly association fee of $682; Building allows dogs (small dogs permitted)

Exterior

• Home design: 6-story building; Elevator building
• Exterior features: No exterior features listed; Zoning: R8A

Interior

• Bedrooms: Entry level: 6 (unit entry on 6th floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Window AC units (has cooling)
• Interior features: Total of 3 rooms; Basement described as 'Other'; Unit has a view
• Laundry & utility: Building laundry (other)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $239k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $239k).
• Recommended offer: $225k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+2.7%/yr); 177 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $4,184/mo this rent would consume 84% of the median local household income ($60k/yr) (locally 5635% 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 (-1.3%/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.
• At projected returns (-1.3% appreciation + 2.7% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• 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 $224,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.43%
• DSCR: 1.78
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.26% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.54×
• Total profit: $36,186
• Equity at exit: $54,725

10-year hold

• IRR: 18.4%
• Equity multiple: 2.79×
• Total profit: $119,548
• Equity at exit: $54,974

Cash invested: $66,920 (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 10027

• Home prices YoY: -0.3%
• Rents YoY: 2.7%
• Active inventory: 177
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $4,184 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$682
• Vacancy / Maint / Mgmt: −$879
• Net cashflow: $905

Break-even live

Break-even rent $3,038

Max offer price $239,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,071	-5% $988	+0% $905	+5% $823	+10% $740
Rent	-10% $575	-5% $740	+0% $905	+5% $1,071	+10% $1,236
Rate	-1.0pp $1,026	-0.5pp $966	base $905	+0.5pp $843	+1.0pp $780

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
241 Lenox Ave #1 New York, NY	1.0	1.0	1175	$8,000	$6.81	20d	1	0.37mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	12d	1	0.40mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$7,948	$7.52	4d	7	0.40mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	26d	1	0.60mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,335	$3.83	0d	1	0.64mi
545 W 110th St Unit 6A New York, NY	2.0	2.0	1441	$7,500	$5.20	26d	1	0.76mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	23d	1	1.02mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$6,070	$7.13	1d	2	1.03mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,953	$3.44	1d	21	1.12mi
400 Central Park W Unit 11D New York, NY	2.0	2.0	1142	$6,950	$6.09	26d	1	1.15mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	0d	181	1.18mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,906	$8.93	0d	30	1.23mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	26d	2	1.24mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	26d	1	1.30mi
70 W 95th St New York, NY	1.0–4.0	1.0–2.0	1095	$9,999	$9.13	18d	1	1.42mi

HOA detail

• Monthly dues: $682 · $8,184/yr

Listing history 11 events

1. 2026-06-15
   days on market $239,000 Active 69 DOM
2. 2026-06-13
   days on market $239,000 Active 67 DOM
3. 2026-06-10
   days on market $239,000 Active 63 DOM
4. 2026-06-08
   days on market $239,000 Active 62 DOM
5. 2026-06-08
   days on market $239,000 Active 61 DOM
6. 2026-06-04
   days on market $239,000 Active 58 DOM
7. 2026-06-03
   days on market $239,000 Active 57 DOM
8. 2026-06-01
   days on market $239,000 Active 55 DOM
9. 2026-05-31
   days on market $239,000 Active 54 DOM
10. 2026-04-07
    listed $239,000 Active
11. 2025-12-04
    price $249,000

ⓘ 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 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: $50,211
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,992
• − Repairs & maintenance: −$4,017
• − Management: −$4,017
• − HOA: −$8,184
• − Depreciation: −$6,953
• Taxable income: $8,075
• Est. tax owed @ 24.0%: −$1,938
• After-tax cash flow: $8,927/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.

Condition & rehab AI · 6 photos

Fair 45/100 Cosmetic rehab

This property is in fair condition with cosmetic updates needed, particularly in the kitchen and bathroom. Painting and updating these areas can significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — basic cabinets
• Minor bathroom fixtures — standard fixtures

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both update kitchen cabinets — Modernizing the kitchen can increase both resale and rental value
• Both update bathroom fixtures — Upgrading fixtures can significantly boost both resale and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · basic cabinets	Minor	$500–3,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both update kitchen cabinets — Modernizing the kitchen can increase both resale and rental value ↑
• Both update bathroom fixtures — Upgrading fixtures can significantly boost both resale and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 63,885
• Household income: $59,587
• Rent vs Own: 82.6% rent · 17.4% own
• Severe rent burden: 5635.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 33% White 27% Hispanic / Latino 24% Asian 10% Two or more races 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 10%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 18% French/Haitian/Cajun 5% Chinese 4%

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: ▼ -1.26%
• Current HPI: 414.8385
• Rent YoY: ▲ 2.71%
• 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

-4.0% since first listed

2 events — show timeline

• 2026-04-07 Listed $239,000 RLS at REBNY
• 2025-12-04 Price Changed $249,000 RLS at REBNY