2022 Madison Ave #2022 · New York, NY 10035

$2,250,000

15 bd · 16.5 ba · — sqft · MultiFamily · 123 Days on market

Built 2014 Excellent condition 1,260 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• DSCR +4.8/10.0
• Condition / age +4.8/5.0
• 1% rule +4.3/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

This extraordinary four-story townhouse at 2022 Madison Avenue is a rare Central Harlem gem, where contemporary elegance meets the rich legacy of the Harlem Renaissance. Designed for refined living, the owner’s triplex offers four bedrooms and four baths across expansive, light-filled interiors with soaring ceilings and double exposures. The parlor level is a true showpiece—an open-concept living and dining space anchored by a striking chef’s kitchen with custom lacquer cabinetry, stainless steel finishes, and Porcelanosa detailing. A dramatic glass wall opens to a private balcony and landscaped garden, creating a seamless indoor-outdoor experience. Upstairs, the primary s

Key facts

• Tranquil garden
• High ceilings
• Owner's triplex

Tags

• TWO-UNIT RESIDENCE
• OWNER'S TRIPLEX
• GARDEN-LEVEL RENTAL APARTMENT
• TRANQUIL GARDEN
• HIGH CEILINGS
• CHEF'S KITCHEN

Property features AI

Finance

• Financial info: Pets allowed in the building
• HOA & community: Association fees billed monthly

Exterior

• Home design: Residential single-family use (also configured as a 2-unit property); 4 stories
• Exterior features: Building garden; Building roof deck; Building balcony; Private garden; Views from property

Interior

• Bedrooms: Two-unit building (multifamily) — total 2 units
• Bathrooms: 5 full bathrooms; 1 half bathroom
• Interior features: Total of 8 rooms; Property has a view
• Laundry & utility: Laundry in unit; Laundry closet; Building and basement laundry access; Basement-level laundry available

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/5.5-bath units multifamily listed at $2.25M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $913 ($11k/yr) — positive. Per door: $304/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.08M (7.4% below list).
• Recommended offer: $1.98M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 71 active listings in the ZIP; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $20,838/mo this rent would consume 554% of the median local household income ($45k/yr) (locally 3992% 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 $88k of equity ($16k loan paydown + $73k appreciation (3.2% 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 (3.2% appreciation + 5.6% rent growth), your $630k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$143k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($1.98M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 18650% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $1,980,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.23% appreciation · 5.62% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.66×
• Total profit: $413,541
• Equity at exit: $1,041,142

10-year hold

• IRR: 14.5%
• Equity multiple: 3.30×
• Total profit: $1,449,979
• Equity at exit: $1,627,800

Cash invested: $630,000 (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 10035

• Home prices YoY: 1.0%
• Rents YoY: 5.6%
• Active inventory: 71
• Price-to-rent: 27.0×

Monthly cashflow live

• Estimated rent: $20,838 high
• Mortgage (P&I): −$11,799
• Tax est. 1.5%: −$2,812 /mo · $33,750/yr
• Insurance: −$938
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,376
• Net cashflow: $913

Break-even live

Break-even rent $19,683

Max offer price $2,250,000

Occupancy floor 91%

Sensitivity live

Price	-10% $2,468	-5% $1,690	+0% $913	+5% $135	+10% $-642
Rent	-10% $-733	-5% $90	+0% $913	+5% $1,736	+10% $2,559
Rate	-1.0pp $2,046	-0.5pp $1,485	base $913	+0.5pp $330	+1.0pp $-263

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	5.5	$20,838
Total (3 units)			$20,838

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: $562,500
• Closing costs: $67,500
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $2,250,000 Active 123 DOM
2. 2026-06-18
   days on market $2,250,000 Active 120 DOM
3. 2026-06-17
   days on market $2,250,000 Active 119 DOM
4. 2026-06-15
   days on market $2,250,000 Active 117 DOM
5. 2026-06-13
   days on market $2,250,000 Active 115 DOM
6. 2026-06-10
   days on market $2,250,000 Active 111 DOM
7. 2026-06-08
   days on market $2,250,000 Active 110 DOM
8. 2026-06-04
   days on market $2,250,000 Active 106 DOM
9. 2026-06-03
   days on market $2,250,000 Active 105 DOM
10. 2026-06-01
    days on market $2,250,000 Active 103 DOM
11. 2026-05-31
    days on market $2,250,000 Active 102 DOM
12. 2026-05-20
    listed $12,000
13. 2026-02-18
    listed $2,250,000 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 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: $250,056
• − Mortgage interest: −$126,035
• − Property taxes: −$33,750
• − Insurance: −$11,250
• − Repairs & maintenance: −$20,004
• − Management: −$20,004
• − Depreciation: −$65,455
• Taxable loss: −$26,442
• Est. tax savings @ 24.0%: +$6,346
• After-tax cash flow: $17,299/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 · 13 photos

Excellent 95/100 None rehab

This four-story townhouse in Central Harlem is in excellent condition with modern amenities and a prime location. It is move-in ready and would be an excellent investment.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both smart home integration — improves convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both smart home integration — improves convenience and marketability ↑

ⓘ 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
• County: New York County · 1,599,927 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,862
• Household income: $45,121
• Rent vs Own: 89.0% rent · 11.0% own
• Severe rent burden: 3992.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 42% Black 35% White 14% Two or more races 13% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 16% Dominican 10%
• Common ancestry: Lithuanian 2% Romanian 1% Scotch-Irish 1%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 34% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 3.23%
• Current HPI: 317.1637
• Rent YoY: ▲ 5.62%
• 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

-99.5% since first listed

2 events — show timeline

• 2026-05-20 Listed for Rent $12,000 REBNY
• 2026-02-18 Listed $2,250,000 RLS at REBNY