229 West 144th St #35 · New York, NY 10030

$375,000

3 bd · 1.0 ba · 1,200 sqft · Condo · 109 Days on market

Built 1940 Fair condition ↓ 6% since listing

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Why this score? — see what drove the A- 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
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0

Listing remarks

If you are looking for an amazing 3 bedroom pre war unit look no further as your location has been discovered! This unit serves as an amazing canvas that will allow the prospective buyer the opportunity to create an amazing living space with their personal touch and flare. There are endless opportunities to turn this unit into a special living space to your liking! The unit is listed at an amazing price of $400k in the heart of Harlem which is historic in nature! The rooms are fairly spacious along with hard wood floors and plenty of natural light, washer and dryer hook up capabilities. The building is very well kept and clean as well as an active board that is present. This is an HDFC an

Key facts

• Built 1940
• Listed 108 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Shared sewer; No utilities listed
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: Entry level: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; No cooling
• Interior features: Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $375k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $375k).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 (+8.8%/yr); 73 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,698/mo this rent would consume 172% of the median local household income ($40k/yr) (locally 4110% 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 $33k of equity ($3k loan paydown + $30k appreciation (8.1% 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 (8.1% appreciation + 8.0% rent growth), your $105k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $341,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.52% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.83%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.05% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 3.93×
• Total profit: $307,430
• Equity at exit: $286,084

10-year hold

• IRR: 38.2%
• Equity multiple: 9.36×
• Total profit: $877,723
• Equity at exit: $569,009

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 10030

• Home prices YoY: 2.3%
• Rents YoY: 8.8%
• Active inventory: 73
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $5,698 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,197
• Net cashflow: $1,910

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 61%

Sensitivity live

Price	-10% $2,169	-5% $2,039	+0% $1,910	+5% $1,780	+10% $1,651
Rent	-10% $1,460	-5% $1,685	+0% $1,910	+5% $2,135	+10% $2,360
Rate	-1.0pp $2,099	-0.5pp $2,005	base $1,910	+0.5pp $1,813	+1.0pp $1,714

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	6d	1	0.51mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	25d	1	0.56mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	25d	1	0.80mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	25d	1	0.93mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$5,091	$5.94	0d	21	1.04mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	20d	1	1.06mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,419	$7.33	0d	181	1.15mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.17mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	9d	1	1.18mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.19mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	12d	1	1.19mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	11d	1	1.22mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	3d	7	1.22mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $375,000 Active 109 DOM
2. 2026-06-18
   days on market $375,000 Active 106 DOM
3. 2026-06-17
   days on market $375,000 Active 105 DOM
4. 2026-06-15
   days on market $375,000 Active 103 DOM
5. 2026-06-13
   days on market $375,000 Active 101 DOM
6. 2026-06-10
   days on market $375,000 Active 97 DOM
7. 2026-06-08
   days on market $375,000 Active 96 DOM
8. 2026-06-08
   days on market $375,000 Active 95 DOM
9. 2026-06-04
   days on market $375,000 Active 92 DOM
10. 2026-06-03
    days on market $375,000 Active 91 DOM
11. 2026-06-01
    days on market $375,000 Active 89 DOM
12. 2026-05-31
    days on market $375,000 Active 88 DOM
13. 2026-05-21
    price $375,000
14. 2026-05-21
    price $350,000
15. 2026-03-05
    listed $400,000 Active
16. 2026-03-04
    historical $400,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 27% 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: $68,375
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$5,470
• − Management: −$5,470
• − Depreciation: −$10,909
• Taxable income: $18,020
• Est. tax owed @ 24.0%: −$4,325
• After-tax cash flow: $18,593/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 · 9 photos

Fair 45/100 Moderate rehab

This pre-war townhouse requires moderate renovations, including paint touch-ups, flooring refinishing, and exterior wall repairs, to improve its condition and value.

Repairs flagged

• Minor Kitchen appliances — Aesthetically worn but functional.
• Minor Bathtub and fixtures — Aesthetically worn but functional.
• Major Roof — Signs of aging and wear.
• Major Exterior walls — Signs of wear and discoloration.
• Major Flooring — Worn and uneven.
• Major Paint — Chipped and uneven in some areas.

Value-add opportunities

• Resale Paint touch-ups and repairs — Fresh paint and repairs will make the interior look more appealing to potential buyers.
• Resale Floor refinishing — Refinished hardwood floors will enhance the home's appeal and value.
• Resale Exterior wall repairs — Fresh exterior paint and repairs will improve the home's curb appeal and overall condition.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Aesthetically worn but functional.	Minor	$500–3,000
Bathtub and fixtures · Aesthetically worn but functional.	Minor	$500–3,000
Roof · Signs of aging and wear.	Major	$15,000–50,000
Exterior walls · Signs of wear and discoloration.	Major	$15,000–50,000
Flooring · Worn and uneven.	Major	$15,000–50,000
Paint · Chipped and uneven in some areas.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$61,000–206,000

Value-add ROI direction

• Resale Paint touch-ups and repairs — Fresh paint and repairs will make the interior look more appealing to potential buyers. ↑
• Resale Floor refinishing — Refinished hardwood floors will enhance the home's appeal and value. ↑
• Resale Exterior wall repairs — Fresh exterior paint and repairs will improve the home's curb appeal and overall condition. ↑

ⓘ 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): 29,297
• Household income: $39,802
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 4110.0

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 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6% Dominican 11%
• Common ancestry: Hispanic 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 21% French/Haitian/Cajun 5% Chinese 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: ▲ 8.05%
• Current HPI: 354.2971
• Rent YoY: ▲ 8.84%
• 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

-6.2% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $375,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-21 Price Changed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Coming Soon $400,000 OneKey® MLS as Distributed by MLS Grid