145 Morningside Ave Unit 2C · New York, NY 10027

$395,000

1 bd · 1.0 ba · 650 sqft · Condo · 279 Days on market

Built 1900

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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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Appreciation +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing opportunity to acquire this great deal in a well managed HDFC coop building in Harlem. Needs a full renovation but well worth it for the price since the last 2 renovated one bedrooms in the building have sold between $300-340k. When you walk in the home, there's a modest kitchen space that leads to a large living room and bedroom with plenty of closet space throughout the apartment. 145 Morningside Avenue is a pet-friendly building offering residents a laundry room, bike storage, and a beautiful garden with seating, tables, and a grilling area. The building is located only two blocks from Morningside Park which features miles of walking paths through landscaped gardens, multiple playgrounds, sports facilities, and a fantastic Saturday farmer's market. Riverside Park and the Harlem Pier are also accessible. The building is also just around the corner from the world-class dining and cozy neighborhood cafes of Harlem's Restaurant Row. There are multiple supermarkets close by, including Whole Foods and Lidl Market, and transportation couldn't be more convenient with the A/B/C/D trains only one block away and the 1/2/3 trains also close by. The following HDFC income restrictions apply: $112,080 for a household of one $128,160 for a household of two $144,120 for a household of three Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Ideal location
• Renovated kitchen
• Functional layout

Tags

• RENOVATED KITCHEN
• FUNCTIONAL LAYOUT
• IDEAL LOCATION
• LANDSCAPED COMMON GARDEN
• BIKE STORAGE
• PET FRIENDLY POLICIES

Property features AI

Finance

• HOA & community: Association: Lineland Management; Community park amenity

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; No waterfront
• Construction: Brick construction
• Exterior features: Near public transit; Near schools; Near shops

Interior

• Kitchen: Oil water heater
• Bedrooms: 3 total rooms (bedrooms and living spaces count toward rooms total)
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Radiant heating; Steam heating; Other heating types; Wall/window air conditioning units
• Interior features: Other interior features; Outdoor space
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $395,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $395k).
• Recommended offer: $348k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+2.7%/yr); 175 active listings in the ZIP; 13 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).
• At $4,296/mo this rent would consume 87% 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 $3k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.
• Current owner paid $200k; list at $395k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — 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 $347,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.7

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $2,560
• Equity at exit: $90,445

10-year hold

• IRR: 7.2%
• Equity multiple: 1.67×
• Total profit: $74,039
• Equity at exit: $90,857

Cash invested: $110,600 (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: 175
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $4,296 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$902
• Net cashflow: $597

Break-even live

Break-even rent $3,540

Max offer price $395,000

Occupancy floor 81%

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	0.58mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	3d	2	0.63mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	0.77mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$8,500	$15.21	21d	1	1.02mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$6,210	$7.30	1d	2	1.12mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,900	$3.38	11d	23	1.20mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	21d	1	1.22mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	1d	183	1.27mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$4,800	$6.00	24d	2	1.32mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$6,906	$8.93	1d	31	1.37mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$3,660	$4.07	24d	2	1.37mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$3,694	$2.86	1d	9	1.41mi
100 River Mews Ln Edgewater, NJ	3.0	1.0–2.0	988	$3,698	$3.74	2d	1	1.42mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $395,000 Active 279 DOM
2. 2026-06-17
   days on market $395,000 Active 278 DOM
3. 2026-06-15
   days on market $395,000 Active 276 DOM
4. 2026-06-13
   days on market $395,000 Active 274 DOM
5. 2026-06-10
   days on market $395,000 Active 270 DOM
6. 2026-06-08
   days on market $395,000 Active 269 DOM
7. 2026-06-03
   days on market $395,000 Active 264 DOM
8. 2026-06-01
   days on market $395,000 Active 262 DOM
9. 2026-05-31
   days on market $395,000 Active 261 DOM
10. 2025-09-12
    listed $395,000 Active
11. 2025-06-04
    historical
12. 2024-07-02
    price $395,000
13. 2024-06-04
    listed $425,000 Active
14. 2023-12-07
    soldstatus $200,000 Closed 1378-char remark

    Show marketing remark (1378 chars)

    Amazing opportunity to acquire this great deal in a well managed HDFC coop building in Harlem. Needs a full renovation but well worth it for the price since the last 2 renovated one bedrooms in the building have sold between $300-340k. When you walk in the home, there's a modest kitchen space that leads to a large living room and bedroom with plenty of closet space throughout the apartment. 145 Morningside Avenue is a pet-friendly building offering residents a laundry room, bike storage, and a beautiful garden with seating, tables, and a grilling area. The building is located only two blocks from Morningside Park which features miles of walking paths through landscaped gardens, multiple playgrounds, sports facilities, and a fantastic Saturday farmer's market. Riverside Park and the Harlem Pier are also accessible. The building is also just around the corner from the world-class dining and cozy neighborhood cafes of Harlem's Restaurant Row. There are multiple supermarkets close by, including Whole Foods and Lidl Market, and transportation couldn't be more convenient with the A/B/C/D trains only one block away and the 1/2/3 trains also close by. The following HDFC income restrictions apply: $112,080 for a household of one $128,160 for a household of two $144,120 for a household of three Additional Information: HeatingFuel:Oil Above Ground,

15. 2023-11-16
    status Pending 1378-char remark

    Show marketing remark (1378 chars)

    Amazing opportunity to acquire this great deal in a well managed HDFC coop building in Harlem. Needs a full renovation but well worth it for the price since the last 2 renovated one bedrooms in the building have sold between $300-340k. When you walk in the home, there's a modest kitchen space that leads to a large living room and bedroom with plenty of closet space throughout the apartment. 145 Morningside Avenue is a pet-friendly building offering residents a laundry room, bike storage, and a beautiful garden with seating, tables, and a grilling area. The building is located only two blocks from Morningside Park which features miles of walking paths through landscaped gardens, multiple playgrounds, sports facilities, and a fantastic Saturday farmer's market. Riverside Park and the Harlem Pier are also accessible. The building is also just around the corner from the world-class dining and cozy neighborhood cafes of Harlem's Restaurant Row. There are multiple supermarkets close by, including Whole Foods and Lidl Market, and transportation couldn't be more convenient with the A/B/C/D trains only one block away and the 1/2/3 trains also close by. The following HDFC income restrictions apply: $112,080 for a household of one $128,160 for a household of two $144,120 for a household of three Additional Information: HeatingFuel:Oil Above Ground,

16. 2023-11-01
    listed $200,000 Active 1378-char remark

    Show marketing remark (1378 chars)

    Amazing opportunity to acquire this great deal in a well managed HDFC coop building in Harlem. Needs a full renovation but well worth it for the price since the last 2 renovated one bedrooms in the building have sold between $300-340k. When you walk in the home, there's a modest kitchen space that leads to a large living room and bedroom with plenty of closet space throughout the apartment. 145 Morningside Avenue is a pet-friendly building offering residents a laundry room, bike storage, and a beautiful garden with seating, tables, and a grilling area. The building is located only two blocks from Morningside Park which features miles of walking paths through landscaped gardens, multiple playgrounds, sports facilities, and a fantastic Saturday farmer's market. Riverside Park and the Harlem Pier are also accessible. The building is also just around the corner from the world-class dining and cozy neighborhood cafes of Harlem's Restaurant Row. There are multiple supermarkets close by, including Whole Foods and Lidl Market, and transportation couldn't be more convenient with the A/B/C/D trains only one block away and the 1/2/3 trains also close by. The following HDFC income restrictions apply: $112,080 for a household of one $128,160 for a household of two $144,120 for a household of three Additional Information: HeatingFuel:Oil Above Ground,

17. 2023-06-26
    soldstatus $200,000 Sold
18. 2023-06-08
    status Pending
19. 2023-06-08
    historical
20. 2023-05-22
    listed $200,000 Active
21. 2023-05-17
    listed $200,000 Active

ⓘ 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) · 78% 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,550
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$2,772
• − Repairs & maintenance: −$4,124
• − Management: −$4,124
• − Depreciation: −$11,491
• Taxable income: $987
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $6,933/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): 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

+97.5% since first listed

12 events — show timeline

• 2025-09-12 Listed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-02 Price Changed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-04 Listed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-07 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2023-11-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-11-01 Listed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-26 Sold (MLS) $200,000 RLS at REBNY
• 2023-06-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-06-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-22 Listed $200,000 RLS at REBNY
• 2023-05-17 Listed $200,000 OneKey® MLS as Distributed by MLS Grid