66 Madison Ave Unit 9-B · New York, NY 10016

$650,000

1 bd · 1.0 ba · 550 sqft · Condo · 18 Days on market

Built 1917 $1626/mo HOA · 24% of rent ↓ 3% since listing

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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).

• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks

Open Houses by appointment only. Please RSVP with broker. Be sure to view the video link under the photos for a full tour of this stunning residence. Welcome home to this beautifully renovated one-bedroom apartment in the heart of NoMad — one of Manhattan’s most vibrant and sought-after neighborhoods. Perfectly positioned directly across from Whole Foods and just moments from Madison Square Park, this sun-drenched residence blends modern sophistication with effortless downtown living. Flooded with natural light, the apartment features soaring 10-foot ceilings, brand-new wide-plank hardwood floors, elegant pocket doors, and a thoughtfully designed layout that feels both refined a

Key facts

• Renovated apartment
• Elegant pocket doors
• $1,626 HOA

Tags

• RENOVATED APARTMENT
• ACROSS FROM WHOLE FOODS
• SOARING 10-FOOT CEILINGS
• WIDE-PLANK HARDWOOD FLOORS
• ELEGANT POCKET DOORS
• THOUGHTFULLY DESIGNED LAYOUT

Property features AI

Finance

• Other: Pets allowed in building
• HOA & community: Monthly association fee of $1,626

Exterior

• Home design: 13-story building; Entry level 9
• Exterior features: Building storage; East exposure

Interior

• Bedrooms: Located on entry level 9
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 rooms; Has a view
• Laundry & utility: Building allows washer/dryer installation; Building has multiple laundry locations; Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $650k.

Deal economics

• At list price, monthly cash flow is $-813 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $532k (18.1% below list).
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $532k (18.1% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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 (+5.4%/yr); 491 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $6,799/mo this rent would consume 58% of the median local household income ($140k/yr) (locally 5269% 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 $22k of equity ($4k loan paydown + $18k appreciation (2.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$55k 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 ($640k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y 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 24% of rent; built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $532,315 (18.1% 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 1917 — 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: 1.05% ✓
• Cap rate: 4.91%
• Cash-on-cash: -4.92%
• DSCR: 0.78
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.7% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.19×
• Total profit: $34,246
• Equity at exit: $281,253

10-year hold

• IRR: 8.4%
• Equity multiple: 2.30×
• Total profit: $236,724
• Equity at exit: $425,068

Cash invested: $182,000 (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 10016

• Home prices YoY: 0.9%
• Rents YoY: 5.4%
• Active inventory: 491
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $6,799 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,626
• Vacancy / Maint / Mgmt: −$1,428
• Net cashflow: $-813

Break-even live

Break-even rent $7,828

Max offer price $532,315

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	7d	13	0.19mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	24d	1	0.22mi
776 6th Ave New York, NY	2.0	1.0–2.0	756	$7,743	$10.24	1d	18	0.29mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	7d	2	0.32mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	7d	3	0.34mi
290 3rd Ave #279 New York, NY	1.0	1.0	607	$9,740	$16.03	3d	2	0.39mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	1d	3	0.40mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	7d	3	0.44mi
160 W 24th St New York, NY	2.0	1.0–2.0	731	$7,896	$10.79	1d	12	0.47mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	6d	1	0.48mi
120 W 21st St New York, NY	2.0	1.0–2.0	676	$7,070	$10.46	4d	14	0.49mi
556 3rd Ave Unit 2244 New York, NY	1.0	1.0	500	$5,650	$11.30	3d	1	0.53mi
556 3rd Ave New York, NY	1.0	1.0	580	$5,240	$9.03	20d	2	0.53mi
556 3rd Ave New York, NY	1.0	1.0	540	$5,635	$10.44	1d	2	0.53mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	24d	4	0.54mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	2d	1	0.55mi
244 W 29th St Unit 2149 New York, NY	1.0	1.0	490	$9,720	$19.84	6d	2	0.56mi
243 W 28th St #2143 New York, NY	1.0	1.0	580	$8,960	$15.45	18d	1	0.57mi
180 W 20th St #1202 New York, NY	2.0	1.0–2.0	791	$9,505	$12.01	1d	3	0.59mi
101 W 15th St New York, NY	1.0	1.0	562	$9,550	$16.98	1d	2	0.67mi
399 E 34th St Unit 1025362P New York, NY	1.0	1.0	570	$9,174	$16.09	22d	1	0.67mi
108 W 15th St #205 New York, NY	1.0–2.0	1.0	697	$6,050	$8.67	3d	2	0.71mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	1d	55	0.71mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	10d	3	0.71mi
130 W 15th St #1383 New York, NY	1.0–2.0	1.0–2.0	844	$9,200	$10.90	1d	2	0.72mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	22d	1	0.74mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$5,218	$7.02	1d	33	0.81mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	7d	1	0.81mi
360 W 34th St New York, NY	2.0	1.0–1.5	632	$6,100	$9.65	7d	3	0.81mi
20 Waterside Plz #978 New York, NY	1.0	1.0	682	$4,760	$6.98	6d	1	0.85mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	7d	2	0.87mi
435 W 31st St New York, NY	1.0	1.0	633	$13,963	$22.04	6d	27	0.88mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	24d	2	0.88mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,740	$11.72	1d	2	0.92mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	24d	1	0.94mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	3d	2	0.96mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.99mi
135 E 47th St New York, NY	1.0	1.0	572	$6,600	$11.53	6d	1	0.99mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	24d	2	1.00mi
18 W 48th St Unit 670 New York, NY	1.0	1.0	631	$7,730	$12.25	7d	1	1.01mi

HOA detail condo

• Monthly dues: $1,626 · $19,512/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-15
   days on market $650,000 Active 18 DOM
2. 2026-06-13
   days on market $650,000 Active 16 DOM
3. 2026-06-10
   days on market $650,000 Active 12 DOM
4. 2026-06-08
   days on market $650,000 Active 11 DOM
5. 2026-06-08
   days on market $650,000 Active 10 DOM
6. 2026-06-04
   days on market $650,000 Active 7 DOM
7. 2026-06-03
   days on market $650,000 Active 6 DOM
8. 2026-06-02
   days on market $650,000 Active 5 DOM
9. 2026-06-01
   days on market $650,000 Active 4 DOM
10. 2026-05-31
    days on market $650,000 Active 3 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $81,587
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$4,047
• − Repairs & maintenance: −$6,527
• − Management: −$6,527
• − HOA: −$19,512
• − Depreciation: −$18,909
• Taxable loss: −$20,095
• Est. tax savings @ 24.0%: +$4,823
• After-tax cash flow: $-4,937/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): 52,971
• Household income: $140,381
• Rent vs Own: 74.9% rent · 25.1% own
• Severe rent burden: 5269.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Chinese 5%

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: ▲ 2.70%
• Current HPI: 313.0343
• Rent YoY: ▲ 5.42%
• 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

-3.0% since first listed

19 events — show timeline

• 2026-05-28 Listed $650,000 RLS at REBNY
• 2026-04-08 Rental Removed $4,500 ZUMPER1
• 2026-04-08 Rental Removed $4,500 ZUMPER1
• 2025-07-30 Listed for Rent $4,500 ZUMPER1
• 2025-07-30 Listed for Rent $4,500 ZUMPER1
• 2025-03-27 Rental Removed $4,500 ZUMPER1
• 2025-03-27 Rental Removed $4,500 ZUMPER1
• 2025-03-26 Listed for Rent $4,500 ZUMPER1
• 2025-03-03 Listed for Rent $4,500 ZUMPER1
• 2025-02-19 Rental Removed $4,500 ZUMPER1
• 2025-02-06 Listed for Rent $4,500 ZUMPER1
• 2025-01-12 Rental Removed $4,500 ZUMPER1
• 2024-12-21 Listed for Rent $4,500 ZUMPER1
• 2024-07-25 Rental Removed $4,300 REBNY
• 2024-07-10 Price Changed $4,300 REBNY
• 2024-06-20 Listed for Rent $4,500 REBNY
• 2017-06-27 Price Changed $649,999 RLS at REBNY
• 2017-02-27 Listed $649,999 RLS at REBNY
• 2017-02-27 Listed $669,999 RLS at REBNY