1885 Lexington Ave Unit 3E · New York, NY 10035

$599,000

3 bd · 1.5 ba · 1,251 sqft · SingleFamily · 258 Days on market

Built 2012 $1720/mo HOA · 29% of rent ↓ 8% since listing

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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 +6.6/10.0
• Cash flow +6.1/30.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0

Listing remarks

1885 Lexington Avenue, Residence 3E Offered at $599,000 Only 10% down payment required Welcome to your bright oasis at 1885 Lexington Avenue, Unit 3E, in the heart of vibrant East Harlem. This one-level 3-bedroom co-op of 1,251 square feet is a rare gem, bathed in natural light from south and west exposures with leafy treetop views from nearly every window. Sunshine streams into the home year-round, highlighting beautifully polished oak floors and a fresh, modern kitchen. The kitchen is both stylish and functional, with energy-saving stainless steel GE appliances, Caesar stone countertops, a glass tile backsplash, and a convenient pass-through breakfast bar. The sleek dishwasher and tho

Key facts

• Natural light
• Modern kitchen
• $1,720 HOA

Tags

• NATURAL LIGHT
• MODERN KITCHEN
• ENERGY-SAVING APPLIANCES
• CAESAR STONE COUNTERTOPS
• GLASS TILE BACKSPLASH
• PASS-THROUGH BREAKFAST BAR

Property features AI

Finance

• Other: Building name: Lancaster Lexington; Building has elevators; Total units in building: 29
• HOA & community: Monthly association fee of $1,720; Building allows pets

Exterior

• Home design: Condominium in a 7-story building; Entry on level 3
• Exterior features: Building roof deck; South and west exposures

Interior

• Kitchen: Dishwasher
• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Dining area; Has a view
• Laundry & utility: Washer hookup; No building laundry (none in building)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $599k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $437k (27.1% below list).
• Meets the 1% rule at list price ($6k rent vs $599k).
• Recommended offer: $437k (27.1% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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.
• 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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,997/mo this rent would consume 160% 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 $23k of equity ($4k loan paydown + $19k 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.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $436,711 (27.1% 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. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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 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: 1.00% ✓
• Cap rate: 4.05%
• Cash-on-cash: -8.02%
• DSCR: 0.64
• GRM: 8.3

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: 2.6%
• Equity multiple: 1.15×
• Total profit: $25,466
• Equity at exit: $277,175

10-year hold

• IRR: 7.6%
• Equity multiple: 2.25×
• Total profit: $210,007
• Equity at exit: $433,357

Cash invested: $167,720 (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: 8.3×

Monthly cashflow live

• Estimated rent: $5,997 high
• Mortgage (P&I): −$3,141
• Tax est. 1.5%: −$749 /mo · $8,985/yr
• Insurance: −$250
• HOA: −$1,720
• Vacancy / Maint / Mgmt: −$1,259
• Net cashflow: $-1,122

Break-even live

Break-even rent $7,417

Max offer price $436,711

Occupancy floor —

Sensitivity live

Price	-10% $-708	-5% $-915	+0% $-1,122	+5% $-1,329	+10% $-1,536
Rent	-10% $-1,595	-5% $-1,358	+0% $-1,122	+5% $-885	+10% $-648
Rate	-1.0pp $-820	-0.5pp $-969	base $-1,122	+0.5pp $-1,277	+1.0pp $-1,435

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 E 116th St Unit 3R New York, NY	4.0	2.0	1100	$4,995	$4.54	9d	1	0.12mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	26d	1	0.40mi
1280 5th Ave Unit 15G New York, NY	3.0	3.0	1640	$10,500	$6.40	21d	1	0.49mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	26d	1	0.54mi
309 E 108th St New York, NY	3.0	1.0	1500	$5,400	$3.60	26d	1	0.57mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	21d	1	0.68mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	1d	1	0.68mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	26d	1	0.72mi
1399 Park Ave Unit 10C New York, NY	2.0	2.0	962	$5,500	$5.72	1d	1	0.73mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,421	$7.34	0d	179	0.74mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$5,091	$5.94	1d	21	0.78mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	9d	1	0.89mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$10,055	$6.08	0d	1	1.10mi
5 W 103rd St Apt 4W New York, NY	4.0	2.0	1200	$7,495	$6.25	21d	1	1.12mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	24d	1	1.14mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	7d	1	1.18mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	26d	1	1.23mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	5d	3	1.25mi
400 Central Park W Unit 11D New York, NY	2.0	2.0	1142	$6,950	$6.09	26d	1	1.25mi
245 E 93rd St Unit 7E New York, NY	2.0	2.5	1262	$8,200	$6.50	26d	1	1.25mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	12d	1	1.27mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	4d	7	1.27mi
545 W 110th St Unit 6A New York, NY	2.0	2.0	1441	$7,500	$5.20	26d	1	1.35mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$9,876	$12.77	0d	30	1.41mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$8,980	$9.98	26d	2	1.44mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$5,270	$6.59	26d	2	1.48mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$8,540	$10.04	1d	2	1.50mi

HOA detail

• Monthly dues: $1,720 · $20,640/yr

Listing history 12 events

1. 2026-06-21
   days on market $599,000 Active 258 DOM
2. 2026-06-18
   days on market $599,000 Active 255 DOM
3. 2026-06-17
   days on market $599,000 Active 254 DOM
4. 2026-06-15
   days on market $599,000 Active 252 DOM
5. 2026-06-13
   days on market $599,000 Active 250 DOM
6. 2026-06-10
   days on market $599,000 Active 246 DOM
7. 2026-06-08
   days on market $599,000 Active 245 DOM
8. 2026-06-03
   days on market $599,000 Active 240 DOM
9. 2026-06-01
   days on market $599,000 Active 238 DOM
10. 2026-05-31
    days on market $599,000 Active 237 DOM
11. 2026-02-06
    price $599,000
12. 2025-10-06
    listed $649,000 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 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: $71,970
• − Mortgage interest: −$33,553
• − Property taxes: −$8,985
• − Insurance: −$2,995
• − Repairs & maintenance: −$5,758
• − Management: −$5,758
• − HOA: −$20,640
• − Depreciation: −$17,425
• Taxable loss: −$23,144
• Est. tax savings @ 24.0%: +$5,555
• After-tax cash flow: $-7,904/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): 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

-7.7% since first listed

2 events — show timeline

• 2026-02-06 Price Changed $599,000 RLS at REBNY
• 2025-10-06 Listed $649,000 RLS at REBNY