181 Hester St Unit 3A · New York, NY 10013

$999,000

1 bd · 1.0 ba · 500 sqft · Condo public records · 66 Days on market

Built 2004

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Why this score? — see what drove the C- 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 +11.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 181 Hester St #3A, a beautifully designed 1-bedroom residence located in the heart of Chinatown Manhattan. This bright and spacious unit features high ceilings, oversized windows, and modern finishes throughout. This bright and airy residence featuring hardwood floors and contemporary finishes throughout, an efficient layout with a spacious living. The gourmet kitchen is equipped with stainless steel appliances, custom cabinetry, and sleek countertops. The generously sized bedroom offers ample closet space and comfort. .. Come out onto your large private balcony—perfect for relaxing or enjoying open views. The elevator building is well-maintained and offers convenient city

Key facts

• Custom cabinetry
• Gourmet kitchen
• Elevator building

Tags

• GOURMET KITCHEN
• STAINLESS STEEL APPLIANCES
• CUSTOM CABINETRY
• LARGE PRIVATE BALCONY
• ELEVATOR BUILDING
• EASY ACCESS TO DINING

Property features AI

Finance

• Other: Building has 10 total units
• Financial info: Financing available: Bank mortgage or cash; Typical down payment required: 20%
• HOA & community: Monthly maintenance/common fee of $530; Managed by 181 Hester St (manager phone available)

Exterior

• Utilities: Gas; Sewer; Water; Other
• Home design: Residential property; Located on floor 3; Lot number 1103

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 1 bedroom on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: 2 AC units
• Interior features: Refrigerator; Stove; Other; 2 AC units

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $999k.

Deal economics

• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $950k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $768k (23.2% below list).
• Recommended offer: $768k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 (+9.4%/yr); 225 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $7,676/mo this rent would consume 57% of the median local household income ($161k/yr) (locally 2000% 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 $107k of equity ($7k loan paydown + $100k appreciation (10.0% 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 ~$172k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($939k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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

• 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 $767,650 (23.2% 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 66 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 3.03×
• Total profit: $566,603
• Equity at exit: $899,978

10-year hold

• IRR: 23.3%
• Equity multiple: 7.37×
• Total profit: $1,782,615
• Equity at exit: $1,940,837

Cash invested: $279,720 (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 10013

• Home prices YoY: 4.4%
• Rents YoY: 9.4%
• Active inventory: 225
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $7,676 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$689 /mo · $8,269/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,612
• Net cashflow: $-280

Break-even live

Break-even rent $8,031

Max offer price $949,577

Occupancy floor 99%

Sensitivity live

Price	-10% $286	-5% $3	+0% $-280	+5% $-563	+10% $-845
Rent	-10% $-886	-5% $-583	+0% $-280	+5% $23	+10% $327
Rate	-1.0pp $223	-0.5pp $-26	base $-280	+0.5pp $-539	+1.0pp $-802

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	25d	1	0.05mi
111 Worth St New York, NY	1.0–2.0	1.0–2.0	747	$6,077	$8.14	8d	7	0.37mi
88 Leonard St New York, NY	1.0	1.0	598	$7,966	$13.32	8d	13	0.41mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$6,120	$7.56	5d	3	0.47mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$7,860	$9.25	2d	2	0.48mi
105 Duane St #183 New York, NY	2.0	1.0–2.0	821	$9,000	$10.96	2d	3	0.50mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$8,078	$7.62	1d	1	0.52mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$7,970	$9.38	2d	2	0.56mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$6,950	$10.69	8d	2	0.66mi
104 MacDougal St Unit 1056263P New York, NY	2.0	1.0	441	$9,375	$21.26	22d	1	0.81mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	5d	2	0.83mi
93 1/2 E 7th St Unit 1054297P New York, NY	2.0	1.0	495	$10,000	$20.20	22d	1	0.87mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$8,040	$11.04	3d	2	0.88mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	22d	1	0.93mi
400 Chambers St #587 New York, NY	2.0	1.0–1.5	675	$7,370	$10.91	8d	3	0.95mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	4d	2	0.96mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,740	$11.72	2d	2	0.99mi
364 6th Ave Unit 1023432P New York, NY	1.0	1.0	441	$9,135	$20.71	22d	1	1.02mi
63 Wall St #1971 New York, NY	—	1.0	489	$5,190	$10.61	21d	1	1.05mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$5,750	$9.03	3d	2	1.05mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	25d	1	1.05mi
52 Barrow St #2123 New York, NY	1.0–2.0	1.0	547	$6,420	$11.73	11d	3	1.05mi
75 Wall St New York, NY	3.0	1.0–3.0	452	$7,598	$16.81	15d	16	1.06mi
95 Wall St New York, NY	2.0	1.0–2.0	733	$5,862	$8.00	2d	39	1.07mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	8d	1	1.08mi
10 Hanover Sq New York, NY	2.0	1.0–2.0	790	$5,948	$7.53	2d	25	1.11mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	25d	1	1.12mi
3 Hanover Sq New York, NY	3.0	1.0–2.0	600	$4,534	$7.56	25d	5	1.12mi
120 Christopher St #1886 New York, NY	1.0–2.0	1.0	574	$5,680	$9.89	2d	3	1.13mi
177 Waverly Pl Unit 1075286P New York, NY	1.0	1.0	452	$10,000	$22.12	25d	1	1.14mi
389 S End Ave New York, NY	3.0	1.0–2.0	1080	$6,685	$6.19	1d	36	1.15mi
139 Christopher St Unit 1021914P New York, NY	1.0–2.0	1.0	667	$5,340	$8.01	8d	2	1.17mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	11d	3	1.17mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	25d	2	1.20mi
140 Charles St Unit 14A New York, NY	1.0	1.0	648	$8,000	$12.35	8d	1	1.24mi
160 Front St Brooklyn, NY	1.0	1.0	597	$5,191	$8.70	2d	2	1.24mi
535 Hudson St #1032 New York, NY	1.0–2.0	1.0	550	$6,030	$10.96	8d	2	1.25mi
87 Perry St New York, NY	2.0	2.0	748	$18,500	$24.73	25d	1	1.27mi
25 Water St Apt 706 New York, NY	—	1.0	550	$3,990	$7.25	25d	1	1.28mi
25 Water St Unit 707 New York, NY	—	1.0	550	$3,950	$7.18	25d	1	1.28mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-18
   days on market $999,000 Active 66 DOM
2. 2026-06-17
   days on market $999,000 Active 65 DOM
3. 2026-06-15
   days on market $999,000 Active 63 DOM
4. 2026-06-13
   days on market $999,000 Active 61 DOM
5. 2026-06-10
   days on market $999,000 Active 57 DOM
6. 2026-06-08
   days on market $999,000 Active 56 DOM
7. 2026-06-08
   days on market $999,000 Active 55 DOM
8. 2026-06-04
   days on market $999,000 Active 52 DOM
9. 2026-06-03
   days on market $999,000 Active 51 DOM
10. 2026-06-01
    days on market $999,000 Active 49 DOM
11. 2026-05-31
    days on market $999,000 Active 48 DOM
12. 2026-04-13
    listed $999,000 Active
13. 2023-05-02
    status Active
14. 2022-11-20
    price $49,900
15. 2022-10-05
    listed $1,200,000 Active
16. 2021-06-15
    soldstatus
17. 2021-06-15
    listed $1,580,000 Active
18. 2015-10-02
    price $1,580,000
19. 2006-03-15
    price $550,000
20. 2005-07-07
    listed $549,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $8,269 · $689/mo
• Projected year-2 tax: $12,576 · $1,048/mo
• Expected delta: +$4,307/yr (+$359/mo · 52.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,118
• − Mortgage interest: −$55,960
• − Property taxes: −$8,269
• − Insurance: −$4,995
• − Repairs & maintenance: −$7,369
• − Management: −$7,369
• − Depreciation: −$29,062
• Taxable loss: −$20,906
• Est. tax savings @ 24.0%: +$5,018
• After-tax cash flow: $1,660/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): 27,219
• Household income: $161,154
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2000.0

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 0.62)
• Race & ethnicity: White 53% Asian 31% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Scotch-Irish 4% Romanian 3% Scandinavian 3%
• Foreign-born: 31% · China, Canada, South Korea
• Languages at home: 65% English-only · Chinese 19% Other Indo-European 7% Spanish 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: ▲ 10.12%
• Current HPI: 239.8397
• Rent YoY: ▲ 9.40%
• 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

+82.0% since first listed

9 events — show timeline

• 2026-04-13 Listed $999,000 BNYMLS
• 2023-05-02 Relisted — RLS at REBNY
• 2022-11-20 Price Changed $49,900 RLS at REBNY
• 2022-10-05 Listed $1,200,000 RLS at REBNY
• 2021-06-15 Listed $1,580,000 RLS at REBNY
• 2021-06-15 Sold (MLS) — RLS at REBNY
• 2015-10-02 Price Changed $1,580,000 RLS at REBNY
• 2006-03-15 Price Changed $550,000 RLS at REBNY
• 2005-07-07 Listed $549,000 RLS at REBNY

Property tax history

+7.6%/yr

Latest (2025): $8,269 · -30.7% YoY. Source: county tax records.