403 E 87th St Unit 3B · New York, NY 10128

$450,000

1 bd · 1.0 ba · 700 sqft · Condo · 62 Days on market

Built 1941 Good condition ↓ 7% since listing

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Why this score? — see what drove the B 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +6.9/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0

Listing remarks

Upper East side living, redefined. Forget the cramped, one-note studios. This is the Upper East Side find you’ve been manifesting—a sophisticated, split-level co-op that trades the typical "apartment" feel for a functional, multi-floor lifestyle. It’s spacious, it’s rare, and it’s arguably the best-valued "house" in Manhattan. The main level offers a spacious eat-in kitchen and a polished, updated bathroom. The upper sanctuary serves as your private penthouse-the legitimate king-sized bedroom is sun-drenched, quiet, and features the kind of closet space that actually accommodates a New York wardrobe. The lower living area is also spacious an

Key facts

• King-sized bedroom
• Lower living area
• Eat-in kitchen

Tags

• SPLIT-LEVEL CO-OP
• EAT-IN KITCHEN
• UPDATED BATHROOM
• KING-SIZED BEDROOM
• CLOSET SPACE
• LOWER LIVING AREA

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Con-Edison electric; Public sewer; Sewer connected; Water connected
• Home design: Stock cooperative; Multi-level layout; Entry level: 3rd floor; 5 total stories
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces); Pets allowed
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Common basement
• Laundry & utility: Laundry in basement (common area)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $450k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $423k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 (+7.0%/yr); 309 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 44% of the median local income ($148k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($3k loan paydown + $17k appreciation (3.7% 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 (3.7% appreciation + 7.0% rent growth), your $126k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($423k) 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: built in 1941 — 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 $423,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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. 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 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: 1.22% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.74% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.37×
• Total profit: $172,857
• Equity at exit: $221,241

10-year hold

• IRR: 25.1%
• Equity multiple: 5.18×
• Total profit: $526,496
• Equity at exit: $356,447

Cash invested: $126,000 (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 10128

• Home prices YoY: 2.0%
• Rents YoY: 7.0%
• Active inventory: 309
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $5,479 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,151
• Net cashflow: $1,219

Break-even live

Break-even rent $3,937

Max offer price $450,000

Occupancy floor 73%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 E 87th St #2094 New York, NY	1.0	1.0	618	$7,890	$12.77	2d	2	0.13mi
315 E 86th St Unit 1327 New York, NY	1.0	2.0	726	$6,460	$8.90	24d	1	0.15mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$5,600	$8.09	2d	2	0.15mi
515 E 86th St Unit 589 New York, NY	1.0	1.0	695	$6,070	$8.73	20d	1	0.17mi
515 E 86th St Unit 1760 New York, NY	1.0	1.0	485	$5,420	$11.18	3d	1	0.17mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	21d	1	0.20mi
244 E 86th St #604 New York, NY	1.0–2.0	1.0–2.0	950	$4,920	$5.18	3d	2	0.22mi
1567 York Ave Unit 1021866P New York, NY	2.0	1.0	742	$5,910	$7.96	22d	1	0.26mi
501 1/2 E 83rd St #1998 New York, NY	2.0	1.0	525	$4,710	$8.97	24d	2	0.29mi
200 E 89th St Unit 12G New York, NY	1.0	1.0	650	$5,000	$7.69	18d	1	0.29mi
201 E 86th St #298 New York, NY	1.0–2.0	1.0–1.5	700	$7,210	$10.30	3d	2	0.30mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$5,645	$7.95	3d	3	0.32mi
160 E 88th St #1332 New York, NY	1.0	1.0	560	$5,670	$10.12	6d	1	0.38mi
420 E 80th St #198 New York, NY	1.0	1.0	623	$4,760	$7.64	18d	1	0.42mi
200 E 82nd St #505 New York, NY	2.0	1.0	636	$6,715	$10.55	2d	3	0.43mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$5,520	$7.46	2d	2	0.44mi
301 E 79th St Unit 28P New York, NY	1.0	1.0	700	$5,500	$7.86	24d	1	0.47mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,960	$11.10	3d	1	0.49mi
347 E 78th St Unit 1530420P New York, NY	2.0	1.0	645	$6,270	$9.72	22d	1	0.51mi
347 E 78th St Unit 1460467P New York, NY	2.0	1.0	645	$7,606	$11.79	24d	1	0.51mi
315 E 78th St Unit 1021994P New York, NY	1.0	1.0	441	$5,037	$11.42	21d	1	0.52mi
315 E 78th St Unit 1021894P New York, NY	1.0	1.0	548	$5,643	$10.30	22d	1	0.52mi
315 E 78th St Unit 1021847P New York, NY	1.0	1.0	516	$4,880	$9.46	20d	1	0.52mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$5,305	$8.84	3d	2	0.53mi
308 E 78th St #2024 New York, NY	1.0–2.0	1.0	550	$4,610	$8.38	24d	2	0.55mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$5,580	$9.56	3d	2	0.59mi
231 E 76th St #1530 New York, NY	1.0	1.0	650	$6,470	$9.95	21d	1	0.64mi
888 Main St New York, NY	1.0–3.0	1.0–2.0	963	$4,431	$4.60	6d	7	0.68mi
240e E 75th St Unit 1021876P New York, NY	—	1.0	441	$5,981	$13.56	8d	1	0.70mi
240e E 75th St Unit 1021873P New York, NY	—	1.0	441	$5,227	$11.85	5d	1	0.70mi
1373 1st Ave Unit 1952 New York, NY	2.0	2.0	650	$7,260	$11.17	24d	1	0.73mi
1001 5th Ave Unit 3 New York, NY	1.0	1.0	450	$5,400	$12.00	24d	1	0.75mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	16d	1	0.81mi
515 E 72nd St Unit 17D New York, NY	1.0	1.0	687	$5,500	$8.01	24d	1	0.82mi
952 5th Ave #998 New York, NY	1.0–2.0	1.0	800	$6,740	$8.43	2d	2	0.90mi
7 E 75th St #1615 New York, NY	1.0–3.0	1.0–2.0	656	$4,850	$7.39	3d	3	0.91mi
1290 1st Ave #1499 New York, NY	2.0	1.0	671	$6,100	$9.09	3d	2	0.95mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$3,990	$5.36	24d	3	0.96mi
1310 2nd Ave Unit 1224958P New York, NY	1.0–2.0	1.0	699	$5,450	$7.80	2d	2	0.99mi
1420 27th Ave Astoria, NY	1.0–2.0	1.0–2.0	887	$3,237	$3.65	3d	9	1.08mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $450,000 Active 62 DOM
2. 2026-06-17
   days on market $450,000 Active 61 DOM
3. 2026-06-15
   days on market $450,000 Active 59 DOM
4. 2026-06-13
   days on market $450,000 Active 57 DOM
5. 2026-06-10
   days on market $450,000 Active 53 DOM
6. 2026-06-08
   days on market $450,000 Active 52 DOM
7. 2026-06-08
   days on market $450,000 Active 51 DOM
8. 2026-06-04
   days on market $450,000 Active 48 DOM
9. 2026-06-03
   days on market $450,000 Active 47 DOM
10. 2026-06-01
    days on market $450,000 Active 45 DOM
11. 2026-05-31
    days on market $450,000 Active 44 DOM
12. 2026-04-17
    historical
13. 2026-04-17
    listed $450,000 Active
14. 2025-10-16
    listed $485,000 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: $65,751
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,260
• − Management: −$5,260
• − Depreciation: −$13,091
• Taxable income: $7,933
• Est. tax owed @ 24.0%: −$1,904
• After-tax cash flow: $12,721/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 · 12 photos

Good 75/100 Cosmetic rehab

This split-level co-op offers a spacious and updated living experience with good condition and minimal repairs needed. Consider painting, flooring, and appliance upgrades to maximize its value.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can make a significant difference in the home's appearance and value
• Both Updating the flooring — New flooring can enhance the home's appeal and value
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value
• Both Updating the bathroom fixtures — Modern fixtures can enhance the home's appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both Updating the flooring — New flooring can enhance the home's appeal and value ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value ↑
• Both Updating the bathroom fixtures — Modern fixtures can enhance the home's appeal and value ↑

ⓘ 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): 57,976
• Household income: $147,772
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 4892.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 13% Asian 10% Two or more races 9% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 1% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 6% Lithuanian 2%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Other Asian/Pacific 3%

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: ▲ 3.74%
• Current HPI: 187.2161
• Rent YoY: ▲ 7.04%
• 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

-7.2% since first listed

3 events — show timeline

• 2026-04-17 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-16 Listed $485,000 OneKey® MLS as Distributed by MLS Grid