1901 Madison Ave #301 · New York, NY 10035

$399,000

3 bd · 2.0 ba · 1,100 sqft · Condo · 96 Days on market

Built 1994 $1832/mo HOA · 32% of rent

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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 +12.6/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

SHOWN BY APPT. ONLY. PLEASE CONTACT ME TO SCHEDULE AN APPOINTMENT. This spacious 3-bedroom, 2-bath co-op on Madison Avenue presents a prime opportunity to create your dream residence in one of Manhattan’s most desirable neighborhoods. Offering generous room sizes, great layout potential, and abundant natural light, this home invites a thoughtful renovation to elevate its classic charm. The property does need updating and TLC and is being sold strictly “as is, ” making it ideal for buyers seeking a project and a chance to personalize a home to their taste. Monthly maintenance is $1,832, and parking is currently available only through a waitlist. A storage unit is included, and the building requires a minimum 20% down payment. Perfect for those who value location, convenience, and the ability to customize a residence in a sought-after New York address. Income restrictions apply to this HDFC co-op. Households of 1 - 2 people -$194,400 (120% AMI - calculated at 4 person) Households of 3 or more people - $226,800 (140% AMI calculated at 4 person) Debt/Income ratio: Annual Maintenance must be less than 28% of Annual Income. Total Actual Debt. (Including monthly maintenance & mortgage, if financing) must be less than 36% of Annual Income. Cats allowed only. Subletting Not Allowed. Secondary Residence Not Allowed. Pied-a-terre Not Allowed.

Key facts

• Storage unit
• $1,832 HOA
• Built 1994

Tags

• THOUGHTFUL RENOVATION
• ABUNDANT NATURAL LIGHT
• STORAGE UNIT
• SOUGHT-AFTER NEW YORK ADDRESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-52 ($-628/yr) — negative.
• To cash-flow at today's rent, offer at most $391k (1.9% below list).
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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 (+5.6%/yr); 71 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $5,743/mo this rent would consume 153% 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 $16k of equity ($3k loan paydown + $13k 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 $112k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: HOA is 32% 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 $363,090 (9.0% 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. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.44% ✓
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.97
• GRM: 5.8

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: 10.0%
• Equity multiple: 1.59×
• Total profit: $66,390
• Equity at exit: $184,629

10-year hold

• IRR: 14.3%
• Equity multiple: 3.35×
• Total profit: $262,203
• Equity at exit: $288,663

Cash invested: $111,720 (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: 5.8×

Monthly cashflow live

• Estimated rent: $5,743 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$1,832
• Vacancy / Maint / Mgmt: −$1,206
• Net cashflow: $-52

Break-even live

Break-even rent $5,809

Max offer price $391,429

Occupancy floor 96%

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	7d	1	0.38mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	18d	1	0.48mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,997	$5.83	11d	23	0.59mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,411	$7.33	1d	183	0.59mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	24d	1	0.60mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	24d	1	0.60mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	24d	1	0.63mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	0.71mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	11d	1	0.74mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.75mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	7d	1	0.75mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.76mi
319 E 109th St Unit 1021947P New York, NY	3.0	1.0	818	$7,260	$8.88	5d	1	0.81mi
309 E 108th St New York, NY	3.0	1.0	1500	$5,400	$3.60	24d	1	0.84mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	4d	1	0.92mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	24d	1	0.98mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	24d	1	1.01mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$9,000	$11.53	3d	2	1.02mi
4 W 108th St Unit 28 New York, NY	4.0	1.0	750	$5,550	$7.40	19d	1	1.03mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	15d	1	1.07mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$9,980	$6.03	1d	1	1.09mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	2d	7	1.11mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	10d	1	1.11mi
5 W 103rd St Apt 4W New York, NY	4.0	2.0	1200	$7,495	$6.25	18d	1	1.21mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	21d	1	1.24mi
545 W 110th St Unit 6A New York, NY	2.0	2.0	1441	$7,500	$5.20	24d	1	1.31mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$6,380	$10.63	2d	2	1.35mi
400 Central Park W Unit 11D New York, NY	2.0	2.0	1142	$6,950	$6.09	24d	1	1.36mi
53-55 E 95th St Unit 4A New York, NY	3.0	2.0	803	$7,495	$9.33	7d	1	1.39mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$6,100	$8.24	1d	2	1.41mi

HOA detail condo

• Monthly dues: $1,832 · $21,984/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-03-16
   status Pending
2. 2025-12-15
   listed $399,000 Active 1379-char remark

   Show marketing remark (1379 chars)

   SHOWN BY APPT. ONLY. PLEASE CONTACT ME TO SCHEDULE AN APPOINTMENT. This spacious 3-bedroom, 2-bath co-op on Madison Avenue presents a prime opportunity to create your dream residence in one of Manhattan’s most desirable neighborhoods. Offering generous room sizes, great layout potential, and abundant natural light, this home invites a thoughtful renovation to elevate its classic charm. The property does need updating and TLC and is being sold strictly “as is, ” making it ideal for buyers seeking a project and a chance to personalize a home to their taste. Monthly maintenance is $1,832, and parking is currently available only through a waitlist. A storage unit is included, and the building requires a minimum 20% down payment. Perfect for those who value location, convenience, and the ability to customize a residence in a sought-after New York address. Income restrictions apply to this HDFC co-op. Households of 1 - 2 people -$194,400 (120% AMI - calculated at 4 person) Households of 3 or more people - $226,800 (140% AMI calculated at 4 person) Debt/Income ratio: Annual Maintenance must be less than 28% of Annual Income. Total Actual Debt. (Including monthly maintenance & mortgage, if financing) must be less than 36% of Annual Income. Cats allowed only. Subletting Not Allowed. Secondary Residence Not Allowed. Pied-a-terre Not Allowed.

3. 2025-12-10
   listed $399,000 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: $68,918
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,513
• − Management: −$5,513
• − HOA: −$21,984
• − Depreciation: −$11,607
• Taxable loss: −$6,031
• Est. tax savings @ 24.0%: +$1,447
• After-tax cash flow: $820/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

+0.0% since first listed

3 events — show timeline

• 2026-03-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-15 Listed $399,000 RLS at REBNY
• 2025-12-10 Listed $399,000 OneKey® MLS as Distributed by MLS Grid