521 E 81st St Unit 3D · New York, NY 10028

$375,000

1 bd · 1.0 ba · 540 sqft · Condo · 6 Days on market

Built 1910 $1025/mo HOA · 19% of rent ↓ 3% since listing

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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 +21.1/30.0
• Appreciation +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Nicely proportioned one-bedroom home with 9-foot ceilings in the heart of Yorkville. The apartment looks onto the trees facing the rear of the building and is pin-drop quiet. 521 East 81st Street is a well-maintained, charming boutique pre-war co-op with a live-in super and laundry room. Conveniently located near the 2nd Avenue Q subway line, residents are also just blocks away from Carl Schurz Park and Gracie Mansion. A local favorite, Gracie Mews Diner, is right around the corner, along with several grocery stores. Nicely proportioned one bedroom home with 9 foot ceilings in the heart of Yorkville. The apartment looks onto the trees facing the rear of the building and is pin-drop quiet. 5

Key facts

• Laundry room
• 9 foot ceilings
• $1,025 HOA

Tags

• 9 FOOT CEILINGS
• LAUNDRY ROOM
• NEAR 2ND AVENUE Q SUBWAY LINE
• BLOCKS FROM CARL SCHURZ PARK
• BLOCKS FROM GRACIE MANSION
• NEAR SEVERAL GROCERY STORES

Property features AI

Finance

• Other: No pets allowed in building
• Financial info: Building contains 20 total units
• HOA & community: Monthly association fee of $1,025

Exterior

• Home design: Entry level on 3rd floor; 5-story building
• Exterior features: Private outdoor space under 60 sqft; North exposure

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 3 rooms; Basement described as 'Other'
• Laundry & utility: Laundry located in building basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).
• Cap rate 8.0% 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 (+6.2%/yr); 276 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).
• This rent runs 36% of the median local income ($175k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $38k 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.
• At projected returns (10.0% appreciation + 6.2% rent growth), your $105k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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: 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 $375,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.40% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.16% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.44×
• Total profit: $256,345
• Equity at exit: $337,830

10-year hold

• IRR: 27.8%
• Equity multiple: 8.33×
• Total profit: $769,185
• Equity at exit: $728,543

Cash invested: $105,000 (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 10028

• Home prices YoY: 3.7%
• Rents YoY: 6.2%
• Active inventory: 276
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $5,257 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$1,025
• Vacancy / Maint / Mgmt: −$1,104
• Net cashflow: $536

Break-even live

Break-even rent $4,578

Max offer price $375,000

Occupancy floor 85%

Sensitivity live

Price	-10% $795	-5% $666	+0% $536	+5% $407	+10% $277
Rent	-10% $121	-5% $329	+0% $536	+5% $744	+10% $952
Rate	-1.0pp $725	-0.5pp $632	base $536	+0.5pp $439	+1.0pp $340

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	25d	2	0.13mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	19d	1	0.16mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	22d	1	0.16mi
515 E 86th St Unit 1760 New York, NY	1.0	1.0	485	$5,360	$11.05	0d	1	0.28mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	20d	1	0.28mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	25d	1	0.31mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	22d	1	0.31mi
888 Main St New York, NY	3.0	1.0–2.0	908	$4,928	$5.43	0d	8	0.31mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,050	$11.41	0d	2	0.34mi
315 E 78th St Unit 1021885P New York, NY	1.0	1.0	516	$6,242	$12.10	0d	1	0.35mi
315 E 78th St Unit 1021847P New York, NY	1.0	1.0	516	$4,880	$9.46	20d	1	0.35mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	22d	1	0.35mi
315 E 78th St Unit 1021994P New York, NY	1.0	1.0	441	$5,037	$11.42	21d	1	0.35mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	25d	1	0.35mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	25d	2	0.37mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	25d	1	0.43mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	25d	1	0.44mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	25d	1	0.44mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	4d	2	0.47mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	21d	1	0.47mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$6,715	$10.55	2d	3	0.49mi
240e E 75th St Unit 1021873P New York, NY	—	1.0	441	$5,227	$11.85	5d	1	0.51mi
240e E 75th St Unit 1021876P New York, NY	—	1.0	441	$5,981	$13.56	8d	1	0.51mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,520	$7.97	0d	2	0.56mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	0d	2	0.57mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	21d	1	0.57mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	25d	3	0.63mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	18d	1	0.63mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	3d	2	0.63mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	7d	1	0.68mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	2d	2	0.71mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	4d	3	0.72mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	4d	2	0.80mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,420	$7.32	0d	2	0.86mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	25d	1	0.87mi
7 E 75th St #1615 New York, NY	1.0–3.0	1.0–2.0	656	$4,850	$7.39	0d	3	0.89mi
952 5th Ave #998 New York, NY	1.0–2.0	1.0	800	$6,460	$8.07	0d	2	0.90mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,770	$10.84	0d	1	0.90mi
220 E 65th St New York, NY	1.0	1.0	700	$5,950	$8.50	2d	1	0.94mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	3d	2	0.94mi

HOA detail condo

• Monthly dues: $1,025 · $12,300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $375,000 Active 6 DOM
2. 2026-06-17
   days on market $375,000 Active 5 DOM
3. 2026-06-16
   days on market $375,000 Active 4 DOM
4. 2026-06-15
   days on market $375,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $375,000 Active 1 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 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: $63,081
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$5,047
• − Management: −$5,047
• − HOA: −$12,300
• − Depreciation: −$10,909
• Taxable income: $1,274
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $6,130/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): 49,077
• Household income: $175,121
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 3381.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 5%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 81% English-only · Other Indo-European 6% Spanish 4% French/Haitian/Cajun 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: ▲ 12.13%
• Current HPI: 341.1676
• Rent YoY: ▲ 6.16%
• 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

-2.9% since first listed

7 events — show timeline

• 2026-06-09 Listed $375,000 RLS at REBNY
• 2022-05-16 Listed $399,000 RLS at REBNY
• 2021-06-15 Relisted — RLS at REBNY
• 2021-05-14 Listed $399,000 RLS at REBNY
• 2007-05-24 Listed $386,050 RLS at REBNY
• 2007-05-24 Listed $386,050 RLS at REBNY
• 2007-05-24 Listed $386,050 RLS at REBNY