500 Grand St Unit BGB · New York, NY 10002

$485,000

1 bd · 1.0 ba · 500 sqft · SingleFamily · 20 Days on market

Built 1949 2.12 ac lot $765/mo HOA · 18% of rent

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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).

• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Cash flow +6.6/30.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0

Listing remarks

* * All appointments - including Sunday Open Houses - are by appointment only. If you are working with another agent, that agent needs to reach out to make the appointment and is required to be present * * * * Prime Real Estate in a Prime Location – Welcome to the Lower East Side! * * This thoughtfully reimagined one-bedroom—formerly a studio—has been expertly designed and fully renovated to maximize both space and light. The newly created bedroom features three oversized windows with western and northern exposures, filling the home with beautiful natural light throughout the day. A sleek partition wall with frosted acrylic paneling separates the bedroom from

Key facts

• Granite countertops
• Oversized windows
• $765 HOA

Tags

• NEWLY CREATED BEDROOM
• OVERSIZED WINDOWS
• FULLY RENOVATED EAT-IN KITCHEN
• CRISP WHITE CABINETRY
• GRANITE COUNTERTOPS
• VERSATILE DRESSING AREA

Property features AI

Finance

• Other: Pets allowed with size limits (contact listing agent for details)
• Financial info: Building contains 263 total units
• HOA & community: Monthly association fee of $765

Exterior

• Home design: 12-story building
• Exterior features: North and west exposures; Elevator service

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 2 rooms
• Laundry & utility: Building basement laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $485k.

Deal economics

• At list price, monthly cash flow is $-804 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $369k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $419k (13.5% below list).
• Recommended offer: $369k (24.0% below list) — sets the bar for cash-flow.
• Cap rate 4.3% 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 fast (+7.5%/yr); 210 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $4,193/mo this rent would consume 104% of the median local household income ($48k/yr) (locally 7758% 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 $21k of equity ($3k loan paydown + $18k appreciation (3.6% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 1949 — 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 $368,675 (24.0% 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.86% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.10%
• DSCR: 0.68
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.62% appreciation · 7.55% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.32×
• Total profit: $43,823
• Equity at exit: $235,084

10-year hold

• IRR: 10.4%
• Equity multiple: 2.81×
• Total profit: $245,810
• Equity at exit: $376,110

Cash invested: $135,800 (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 10002

• Home prices YoY: 1.2%
• Rents YoY: 7.5%
• Active inventory: 210
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,193 medium
• Mortgage (P&I): −$2,543
• Tax est. 1.5%: −$606 /mo · $7,275/yr
• Insurance: −$202
• HOA: −$765
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $-804

Break-even live

Break-even rent $5,211

Max offer price $368,675

Occupancy floor —

Sensitivity live

Price	-10% $-469	-5% $-636	+0% $-804	+5% $-971	+10% $-1,139
Rent	-10% $-1,135	-5% $-970	+0% $-804	+5% $-638	+10% $-473
Rate	-1.0pp $-560	-0.5pp $-681	base $-804	+0.5pp $-930	+1.0pp $-1,057

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$7,970	$9.38	3d	2	0.22mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$7,860	$9.25	3d	2	0.34mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$6,950	$10.69	9d	2	0.45mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	25d	2	0.72mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$6,120	$7.56	5d	3	0.73mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$8,052	$7.60	0d	1	0.79mi
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	25d	1	0.81mi
93 1/2 E 7th St Unit 1054297P New York, NY	2.0	1.0	495	$10,000	$20.20	23d	1	0.83mi
11 Wharf Way Brooklyn, NY	1.0	1.0	610	$4,870	$7.98	0d	2	0.89mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$5,920	$7.64	4d	3	0.90mi
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$6,555	$8.74	0d	3	0.90mi
187 Kent Ave #1730 Brooklyn, NY	1.0	1.0	500	$5,750	$11.50	7d	1	1.01mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	25d	1	1.07mi
111 Worth St New York, NY	1.0–2.0	1.0–2.0	747	$6,077	$8.14	9d	7	1.08mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	4d	2	1.09mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,630	$11.53	0d	2	1.13mi
88 Leonard St New York, NY	1.0	1.0	598	$7,966	$13.32	9d	13	1.15mi
105 Duane St #183 New York, NY	2.0	1.0–2.0	821	$8,935	$10.88	0d	3	1.21mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$5,650	$7.98	0d	2	1.26mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$8,040	$11.04	4d	2	1.30mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	23d	1	1.31mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	9d	1	1.32mi
104 MacDougal St Unit 1056263P New York, NY	2.0	1.0	441	$9,375	$21.26	23d	1	1.36mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	11d	3	1.37mi
275 S 5th St #1698 Brooklyn, NY	1.0	1.0	450	$4,860	$10.80	25d	2	1.38mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	5d	2	1.43mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$5,053	$5.59	5d	1	1.45mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	25d	1	1.47mi
95 Wall St New York, NY	2.0	1.0–2.0	881	$5,978	$6.78	0d	33	1.47mi
75 Wall St New York, NY	3.0	1.0–3.0	452	$7,598	$16.81	16d	16	1.48mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$5,750	$9.03	4d	2	1.48mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	23d	1	1.49mi
63 Wall St #1971 New York, NY	1.0	1.0	489	$5,120	$10.46	0d	2	1.49mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	3d	1	1.49mi

HOA detail

• Monthly dues: $765 · $9,180/yr

Listing history 13 events

1. 2026-06-21
   days on market $485,000 Active 20 DOM
2. 2026-06-18
   days on market $485,000 Active 17 DOM
3. 2026-06-17
   days on market $485,000 Active 16 DOM
4. 2026-06-16
   days on market $485,000 Active 15 DOM
5. 2026-06-15
   days on market $485,000 Active 14 DOM
6. 2026-06-13
   days on market $485,000 Active 12 DOM
7. 2026-06-09
   days on market $485,000 Active 8 DOM
8. 2026-06-08
   days on market $485,000 Active 7 DOM
9. 2026-06-08
   pricedays on market $485,000 Active 6 DOM
10. 2026-06-04
    days on market $499,000 Active 3 DOM
11. 2026-06-03
    days on market $499,000 Active 2 DOM
12. 2026-06-02
    remarks 681-char remark
13. 2026-06-02
    listed $499,000 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 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: $50,322
• − Mortgage interest: −$27,168
• − Property taxes: −$7,275
• − Insurance: −$2,425
• − Repairs & maintenance: −$4,026
• − Management: −$4,026
• − HOA: −$9,180
• − Depreciation: −$14,109
• Taxable loss: −$17,887
• Est. tax savings @ 24.0%: +$4,293
• After-tax cash flow: $-5,354/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): 76,873
• Household income: $48,386
• Rent vs Own: 81.3% rent · 18.7% own
• Severe rent burden: 7758.0

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 0.73)
• Race & ethnicity: Asian 37% White 26% Hispanic / Latino 25% Two or more races 10% Black 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 6%
• Common ancestry: Scotch-Irish 2% Romanian 1% Italian 1%
• Foreign-born: 38% · China, Canada, Vietnam
• Languages at home: 48% English-only · Chinese 29% Spanish 16% Other Indo-European 1%

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: ▲ 3.62%
• Current HPI: 302.3293
• Rent YoY: ▲ 7.55%
• 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

+58.4% since first listed

7 events — show timeline

• 2026-06-01 Listed $499,000 RLS at REBNY
• 2021-08-19 Price Changed $385,000 RLS at REBNY
• 2021-06-08 Price Changed $399,000 RLS at REBNY
• 2021-02-17 Price Changed $399,000 RLS at REBNY
• 2021-02-10 Price Changed $425,000 RLS at REBNY
• 2021-01-23 Listed $439,000 RLS at REBNY
• 2015-04-13 Listed $315,000 RLS at REBNY