29 Convent Ave #21 · New York, NY 10027

$299,000

1 bd · 1.0 ba · 466 sqft · Condo · 32 Days on market

Built 1910 Good condition

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +5.0/10.0
• Appreciation +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0

Listing remarks MLS

Rarely available and attractively priced 1-bedroom in a well-maintained HDFC co-op. Freshly painted and updated this home features tall ceilings, new flooring, updated fixtures, new vinyl plank flooring, efficiency kitchen, —fille dwith natural sunlight, it's ideal for comfortable everyday living. The building offers a renovated lobby and a tranquil shared outdoor garden with seating and BBQ space, perfect for relaxing or entertaining. Conveniently located near the A/B/C/D subway lines, Columbia University, City College of New York, Morningside Park, local markets, and a wide selection of restaurants. Pet-friendly building. 5th-floor walk-up. HDFC income restrictions apply: $68,555 maximum for up to 2 dependents; $79,487 maximum for 3 or more.

Key facts

• Tall ceilings
• Efficiency kitchen
• New flooring

Tags

• TALL CEILINGS
• NEW FLOORING
• UPDATED FIXTURES
• EFFICIENCY KITCHEN
• NATURAL SUNLIGHT
• RENOVATED LOBBY

Property features AI

Finance

• Other: Living area reported from plans
• Financial info: No investor or income/expense details provided
• HOA & community: Association managed by Midas Property Management; Association fee includes common area maintenance, exterior maintenance, sewer, snow removal, trash, and water; $7/share abatement and $5/share insurance noted

Exterior

• Parking: On-street parking; No carport
• Security: No specific security features provided
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone connected; Sewer connected; Water connected
• Home design: Stock cooperative; One level unit; Entry level listed as 5; Five-story building
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Interior lot; Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 3 rooms total (includes sleeping areas)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Entrance foyer; Walk-up building; No basement; No attic; Plans listed as source for living area
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $299k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,627/mo this rent would consume 73% 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 $4k 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 $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1910 — 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 $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.45%
• DSCR: 1.51
• GRM: 6.9

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: 6.5%
• Equity multiple: 1.29×
• Total profit: $23,883
• Equity at exit: $68,464

10-year hold

• IRR: 13.0%
• Equity multiple: 2.23×
• Total profit: $103,038
• Equity at exit: $68,775

Cash invested: $83,720 (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: 6.9×

Monthly cashflow live

• Estimated rent: $3,627 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $799

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,006	-5% $902	+0% $799	+5% $696	+10% $592
Rent	-10% $512	-5% $656	+0% $799	+5% $942	+10% $1,085
Rate	-1.0pp $950	-0.5pp $875	base $799	+0.5pp $721	+1.0pp $643

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $299,000 Active 32 DOM
2. 2026-06-18
   days on market $299,000 Active 29 DOM
3. 2026-06-17
   days on market $299,000 Active 28 DOM
4. 2026-06-16
   days on market $299,000 Active 27 DOM
5. 2026-06-15
   days on market $299,000 Active 26 DOM
6. 2026-06-13
   days on market $299,000 Active 24 DOM
7. 2026-06-10
   days on market $299,000 Active 20 DOM
8. 2026-06-08
   days on market $299,000 Active 19 DOM
9. 2026-06-08
   days on market $299,000 Active 18 DOM
10. 2026-06-04
    days on market $299,000 Active 15 DOM
11. 2026-06-03
    days on market $299,000 Active 14 DOM
12. 2026-06-02
    days on market $299,000 Active 13 DOM
13. 2026-06-01
    days on market $299,000 Active 12 DOM
14. 2026-05-31
    days on market $299,000 Active 11 DOM
15. 2026-05-20
    listed $299,000 Active

    Show marketing remark (760 chars)

    Rarely available and attractively priced 1-bedroom in a well-maintained HDFC co-op. Freshly painted and updated this home features tall ceilings, new flooring, updated fixtures, new vinyl plank flooring, efficiency kitchen, —fille dwith natural sunlight, it's ideal for comfortable everyday living. The building offers a renovated lobby and a tranquil shared outdoor garden with seating and BBQ space, perfect for relaxing or entertaining. Conveniently located near the A/B/C/D subway lines, Columbia University, City College of New York, Morningside Park, local markets, and a wide selection of restaurants. Pet-friendly building. 5th-floor walk-up. HDFC income restrictions apply: $68,555 maximum for up to 2 dependents; $79,487 maximum for 3 or more.

16. 2026-05-20
    listed $299,000 Active 760-char remark

    Show marketing remark (760 chars)

    Rarely available and attractively priced 1-bedroom in a well-maintained HDFC co-op. Freshly painted and updated this home features tall ceilings, new flooring, updated fixtures, new vinyl plank flooring, efficiency kitchen, —fille dwith natural sunlight, it's ideal for comfortable everyday living. The building offers a renovated lobby and a tranquil shared outdoor garden with seating and BBQ space, perfect for relaxing or entertaining. Conveniently located near the A/B/C/D subway lines, Columbia University, City College of New York, Morningside Park, local markets, and a wide selection of restaurants. Pet-friendly building. 5th-floor walk-up. HDFC income restrictions apply: $68,555 maximum for up to 2 dependents; $79,487 maximum for 3 or more.

ⓘ 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: $43,523
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,482
• − Management: −$3,482
• − Depreciation: −$8,698
• Taxable income: $5,133
• Est. tax owed @ 24.0%: −$1,232
• After-tax cash flow: $8,356/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 · 13 photos

Good 80/100 Cosmetic rehab

This 1-bedroom HDFC co-op is in excellent condition with fresh updates and a well-maintained exterior. It offers a tranquil shared outdoor garden and is conveniently located near public transportation and amenities.

Value-add opportunities

• Both landscaping and outdoor garden improvements — enhances curb appeal and provides relaxation space
• Both HVAC system upgrade — improves comfort and energy efficiency
• Both exterior paint touch-up — maintains curb appeal and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping and outdoor garden improvements — enhances curb appeal and provides relaxation space ↑
• Both HVAC system upgrade — improves comfort and energy efficiency ↑
• Both exterior paint touch-up — maintains curb appeal and enhances property value ↑

ⓘ 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

+0.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $299,000 BNYMLS
• 2026-05-20 Listed $299,000 OneKey® MLS as Distributed by MLS Grid