555 Lenox Ave Unit 2B · New York, NY 10037

$385,000

1 bd · 1.0 ba · 600 sqft · SingleFamily · 31 Days on market

Built 1910 Good condition $743/mo HOA · 12% of rent ↓ 17% since listing

---

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
• Appreciation +6.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

The Savoy West Condominium - Harlem Living at Its Best . .. .Or Your Next Smart Investment A rare prewar gem where classic charm meets modern flair. Say hello to your west-facing one-bedroom - the kind of place that catches the golden hour just right. Inside: 9+ ft ceilings that make the space soar, rich mahogany oak floors underfoot, and a Carrara marble + GE Profile kitchen made for brunch with friends or late-night pasta. You even get your own storage unit. W/ D allowed. Pets? Absolutely. Building Perks: Virtual doorman by day, live doorman 6pm-6am, gym, media room, bike room, laundry, and a landscaped rooftop where the city views steal the show. Right Where You Want to Be: Step outs

Key facts

• Virtual doorman
• Storage unit
• West-facing

Tags

• WEST-FACING
• 9 FT CEILINGS
• MAHOGANY OAK FLOORS
• CARRARA MARBLE KITCHEN
• STORAGE UNIT
• VIRTUAL DOORMAN

Property features AI

Finance

• Other: Building amenities include bike storage and elevator(s); Total units in building: 32
• HOA & community: Monthly association fee of $743; Pets allowed

Exterior

• Home design: Condo/Co-op in a 6-story building named The Savoy West; Entry level: 2nd floor; Has a view; Zoning: R7-2
• Construction: Other basement type
• Exterior features: Building roof deck; West exposure

Interior

• Bedrooms: 3 rooms total (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Interior features: Has basement; Building laundry
• Laundry & utility: Building laundry facilities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $385k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $385k).
• Recommended offer: $373k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: 24 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $14k appreciation (3.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $108k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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; built in 1910 — 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 $373,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. 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. 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 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: 1.60% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.34%
• DSCR: 1.73
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.41×
• Total profit: $151,475
• Equity at exit: $189,349

10-year hold

• IRR: 24.1%
• Equity multiple: 4.68×
• Total profit: $396,733
• Equity at exit: $305,116

Cash invested: $107,800 (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 10037

• Home prices YoY: 2.3%
• Active inventory: 24
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $6,166 high
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$743
• Vacancy / Maint / Mgmt: −$1,295
• Net cashflow: $1,401

Break-even live

Break-even rent $4,393

Max offer price $385,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,667	-5% $1,534	+0% $1,401	+5% $1,268	+10% $1,135
Rent	-10% $914	-5% $1,158	+0% $1,401	+5% $1,645	+10% $1,888
Rate	-1.0pp $1,595	-0.5pp $1,499	base $1,401	+0.5pp $1,301	+1.0pp $1,200

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	0.59mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	16d	1	0.60mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	4d	2	0.62mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$5,580	$9.56	4d	2	0.81mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,906	$8.93	1d	31	0.81mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	22d	1	0.85mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	25d	2	0.85mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	3d	2	0.87mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$4,800	$6.00	25d	2	0.89mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,960	$11.10	3d	1	0.91mi
70 W 95th St New York, NY	1.0–4.0	1.0–2.0	1095	$9,999	$9.13	17d	1	0.92mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$8,500	$15.21	22d	1	0.94mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$6,210	$7.30	2d	2	0.94mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,520	$7.46	2d	2	0.95mi
266 W 96th St #2030 New York, NY	1.0	1.0	512	$5,800	$11.33	6d	1	1.11mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	4d	3	1.13mi
255 W 94th St #686 New York, NY	1.0–2.0	1.0–2.0	750	$6,300	$8.40	2d	2	1.13mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	25d	1	1.20mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	18d	1	1.21mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	6d	1	1.22mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,725	$5.73	3d	3	1.23mi
212 W 91st St New York, NY	1.0–2.0	1.0–2.0	825	$4,695	$5.69	4d	4	1.23mi
189 W 89th St New York, NY	2.0	1.0–2.0	716	$6,414	$8.95	1d	13	1.23mi
212 W 91st St #416 New York, NY	1.0–2.0	1.0–2.0	825	$6,270	$7.60	6d	2	1.24mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	21d	1	1.24mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,600	$8.09	2d	2	1.26mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	2d	183	1.29mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,900	$3.38	12d	23	1.30mi
210 W 89th St #165 New York, NY	1.0	1.0	675	$7,520	$11.14	2d	2	1.31mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	4d	2	1.31mi
43 W 85th St Unit 1470323P New York, NY	1.0	1.0	699	$6,466	$9.25	5d	1	1.33mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	4d	2	1.38mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	25d	1	1.39mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	25d	1	1.44mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,890	$12.77	2d	2	1.50mi

HOA detail

• Monthly dues: $743 · $8,916/yr
• Likely covers: gymdoorman

Listing history 19 events

1. 2026-06-18
   days on market $385,000 Active 31 DOM
2. 2026-06-17
   days on market $385,000 Active 30 DOM
3. 2026-06-16
   days on market $385,000 Active 29 DOM
4. 2026-06-15
   days on market $385,000 Active 28 DOM
5. 2026-06-13
   days on market $385,000 Active 26 DOM
6. 2026-06-10
   days on market $385,000 Active 22 DOM
7. 2026-06-08
   days on market $385,000 Active 21 DOM
8. 2026-06-08
   days on market $385,000 Active 20 DOM
9. 2026-06-04
   days on market $385,000 Active 17 DOM
10. 2026-06-03
    days on market $385,000 Active 16 DOM
11. 2026-06-02
    days on market $385,000 Active 15 DOM
12. 2026-06-01
    days on market $385,000 Active 14 DOM
13. 2026-05-31
    days on market $385,000 Active 13 DOM
14. 2026-05-18
    listed $385,000 Active
15. 2021-07-28
    price $385,000
16. 2021-04-01
    status Active
17. 2021-02-23
    status Active
18. 2020-02-13
    listed $389,000
19. 2016-05-19
    listed $466,000

ⓘ 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: $73,995
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$2,722
• − Repairs & maintenance: −$5,920
• − Management: −$5,920
• − HOA: −$8,916
• − Depreciation: −$11,200
• Taxable income: $11,976
• Est. tax owed @ 24.0%: −$2,874
• After-tax cash flow: $13,940/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 · 3 photos

Good 75/100 Cosmetic rehab

This prewar apartment is in good condition with modern amenities and a prime location. A few touch-ups and minor updates would significantly enhance its value.

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Resale Replace countertops with quartz or granite — Quartz or granite countertops are more durable and aesthetically pleasing
• Both Install smart home devices — Improves convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Resale Replace countertops with quartz or granite — Quartz or granite countertops are more durable and aesthetically pleasing ↑
• Both Install smart home devices — Improves convenience and adds modern 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
• City population: 7,731,280
• Population (ZIP): 18,333

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 0.58)
• Race & ethnicity: Black 60% Hispanic / Latino 21% Two or more races 11% White 11% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 9%
• Common ancestry: Scotch-Irish 1% Hispanic 1% Russian 1%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 74% English-only · Spanish 15% French/Haitian/Cajun 2% Arabic 2%

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: ▲ 3.74%
• Current HPI: 166.9692
• Rent YoY: —
• Metro: —
• 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

-17.4% since first listed

6 events — show timeline

• 2026-05-18 Listed $385,000 RLS at REBNY
• 2021-07-28 Price Changed $385,000 RLS at REBNY
• 2021-04-01 Relisted — RLS at REBNY
• 2021-02-23 Relisted — RLS at REBNY
• 2020-02-13 Listed $389,000 RLS at REBNY
• 2016-05-19 Listed $466,000 RLS at REBNY