538 E 84th St Unit 2A · New York, NY 10028

$399,000

1 bd · 1.0 ba · 505 sqft · SingleFamily · 112 Days on market

Built 1910 $1524/mo HOA ↓ 5% since listing

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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 +12.0/30.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0

Listing remarks

PRICE DROP, GREAT OPPORTUNITY FOR THE RIGHT BUYER. Photos are virtually staged. The apartment is a one bedroom and is in ESTATE CONDITION. ALL OPEN HOUSES ARE BY APPOINTMENT ONLY. Don't miss this Prewar one bedroom opportunity diagonally across the street from Carl Schurz Park. The apartment is in a quiet, intimate co-op, and has high ( 9' 4") ceilings, a partial Park and seasonal East River View. Total renovation necessary, but worth the effort. The building has a live in Super, virtual doorman, laundry room, elevator and additional basement storage. The Co-op Corporation is comprised of 3 adjacent buildings just off the corner of East End Ave. and across from the entrance to Carl Sch

Key facts

• Live in super
• Partial park view
• Laundry room

Tags

• PREWAR ONE BEDROOM
• PARTIAL PARK VIEW
• SEASONAL EAST RIVER VIEW
• LIVE IN SUPER
• VIRTUAL DOORMAN
• LAUNDRY ROOM

Property features AI

Finance

• HOA & community: Monthly association fee of $1,524; Pets allowed in building

Exterior

• Home design: Condo/co-op unit on entry level 2; 5-story building; Elevator building
• Exterior features: No notable exterior features listed; North exposure; Has view

Interior

• Bedrooms: 3 total rooms (bedrooms not separately specified)
• Bathrooms: 1 full bathroom
• Interior features: High ceilings; Basement described as Other
• Laundry & utility: No building laundry

🏢 Co-op / cooperative unit. The $399,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $385k (3.5% below list).
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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.
• Market conditions: Rents rising fast (+6.2%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• This rent runs 36% of the median local income ($175k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% 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 ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 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 29% of rent; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/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 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.33% ✓
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $53,530
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 E 73rd St Unit 6A	0.70mi	1/1.0	520 (+3%)	20mo	$55,000	$106	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 6.16% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.05×
• Total profit: $229,576
• Equity at exit: $359,451

10-year hold

• IRR: 23.6%
• Equity multiple: 7.47×
• Total profit: $722,953
• Equity at exit: $775,169

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 10028

• Home prices YoY: 3.7%
• Rents YoY: 6.2%
• Active inventory: 276
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $5,298 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$1,524
• Vacancy / Maint / Mgmt: −$1,113
• Net cashflow: $-96

Break-even live

Break-even rent $5,419

Max offer price $385,089

Occupancy floor 97%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	24d	2	0.11mi
515 E 86th St Unit 1760 New York, NY	1.0	1.0	485	$5,420	$11.18	3d	1	0.13mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	20d	1	0.13mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	22d	1	0.14mi
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,890	$12.77	1d	2	0.19mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	18d	1	0.29mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	24d	1	0.37mi
888 Main St New York, NY	1.0–3.0	1.0–2.0	963	$4,431	$4.60	6d	7	0.38mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	3d	2	0.43mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,600	$8.09	1d	2	0.43mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	24d	1	0.43mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	22d	1	0.43mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	24d	1	0.44mi
315 E 78th St Unit 1021994P New York, NY	1.0	1.0	441	$5,037	$11.42	20d	1	0.46mi
315 E 78th St Unit 1021847P New York, NY	1.0	1.0	516	$4,880	$9.46	20d	1	0.46mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	22d	1	0.46mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	20d	1	0.48mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	24d	2	0.49mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$6,715	$10.55	1d	3	0.53mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	3d	2	0.53mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	18d	1	0.56mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	3d	3	0.57mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	20d	1	0.60mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	24d	1	0.60mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	24d	1	0.62mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	6d	1	0.63mi
240e E 75th St Unit 1021876P New York, NY	—	1.0	441	$5,981	$13.56	7d	1	0.64mi
240e E 75th St Unit 1021873P New York, NY	—	1.0	441	$5,227	$11.85	5d	1	0.64mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,520	$7.46	1d	2	0.73mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,960	$11.10	3d	1	0.78mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	24d	3	0.80mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	2d	2	0.80mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	2d	2	0.82mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	1d	2	0.88mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$5,580	$9.56	3d	2	0.88mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	24d	1	0.91mi
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$3,237	$3.65	3d	9	0.92mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$10,597	$13.40	3d	2	0.97mi
7 E 75th St #1615 New York, NY	1.0–3.0	1.0–2.0	656	$4,850	$7.39	3d	3	0.98mi
952 5th Ave #998 New York, NY	1.0–2.0	1.0	800	$6,740	$8.43	1d	2	0.98mi

HOA detail

• Monthly dues: $1,524 · $18,288/yr
• Likely covers: doorman

Listing history 15 events

1. 2026-06-18
   days on market $399,000 Active 112 DOM
2. 2026-06-17
   days on market $399,000 Active 111 DOM
3. 2026-06-15
   days on market $399,000 Active 109 DOM
4. 2026-06-13
   days on market $399,000 Active 107 DOM
5. 2026-06-10
   days on market $399,000 Active 103 DOM
6. 2026-06-08
   days on market $399,000 Active 102 DOM
7. 2026-06-08
   days on market $399,000 Active 101 DOM
8. 2026-06-04
   days on market $399,000 Active 98 DOM
9. 2026-06-03
   days on market $399,000 Active 97 DOM
10. 2026-06-01
    days on market $399,000 Active 95 DOM
11. 2026-05-31
    remarks 694-char remark
12. 2026-05-31
    days on market $399,000 Active 94 DOM
13. 2026-05-19
    price $399,000
14. 2026-05-04
    status Active
15. 2025-09-12
    listed $419,000 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 · 14 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: $63,574
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,086
• − Management: −$5,086
• − HOA: −$18,288
• − Depreciation: −$11,607
• Taxable loss: −$6,824
• Est. tax savings @ 24.0%: +$1,638
• After-tax cash flow: $484/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): 49,077
• Household income: $175,121
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 3381.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 5%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 81% English-only · Other Indo-European 6% Spanish 4% French/Haitian/Cajun 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: ▲ 12.13%
• Current HPI: 341.1676
• Rent YoY: ▲ 6.16%
• 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

-4.8% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $399,000 RLS at REBNY
• 2026-05-04 Relisted — RLS at REBNY
• 2025-09-12 Listed $419,000 RLS at REBNY