555 Lenox Ave Unit 1A · New York, NY 10037

$499,999

2 bd · 2.5 ba · 1,547 sqft · Condo · 371 Days on market

Built 1910 $2317/mo HOA · 32% of rent ↓ 9% 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 +12.4/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 555 Lenox Avenue #1A, a spacious 2 bedroom /2.5 bathroom duplex + bonus room + private outdoor space in the heart of Harlem! This home features: - On the upstairs level: 2 bedrooms + 2 bathrooms + living/dining room + kitchen - On the downstairs level: a huge approximately 500 square foot roomwith windows and outdoor access to use as you wish - plus another half bathroom - South-facing light (especially when the scaffolding comes down, scheduled for later this year), through high windows ensuring maximum light and privacy - Private outdoor space - Modern GE kitchen appliances - Dedicated and free storage unit and bike storage - Virtual doorman and package room Offered in pri

Key facts

• Bike storage
• $2,317 HOA
• Built 1910

Tags

• PRIVATE OUTDOOR SPACE
• MODERN GE KITCHEN APPLIANCES
• DEDICATED STORAGE UNIT
• BIKE STORAGE
• MASSIVE COMMON ROOF DECK
• ELEVATOR ACCESS TO ROOF

Property features AI

Finance

• Other: Pets allowed in the building; Total of 32 units in the building
• Financial info: Association fee: $2,317 per month
• HOA & community: Monthly association fee

Exterior

• Home design: Condominium in a 6-story building; Entry on level 1; Building name: The Savoy West; Zoning: R7-2
• Construction: Elevator access; Bike storage
• Exterior features: Private outdoor space (over 60 sqft); Patio; Building roof deck; South exposure

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: High ceilings; Basement (other)
• Laundry & utility: In-unit washer hookup; Building laundry options

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $-82 ($-986/yr) — negative.
• To cash-flow at today's rent, offer at most $488k (2.4% below list).
• Meets the 1% rule at list price ($7k rent vs $500k).
• Recommended offer: $440k (12.0% 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: 24 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).

Forward outlook

• In year one you build about $22k of equity ($3k loan paydown + $19k 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 + 3.0% rent growth), your $140k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 371 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $50k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,999 (12.0% 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 371 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.55×
• Total profit: $76,353
• Equity at exit: $245,907

10-year hold

• IRR: 11.3%
• Equity multiple: 2.84×
• Total profit: $257,557
• Equity at exit: $396,253

Cash invested: $140,000 (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 10037

• Home prices YoY: 2.3%
• Active inventory: 24
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $7,203 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$2,317
• Vacancy / Maint / Mgmt: −$1,513
• Net cashflow: $-82

Break-even live

Break-even rent $7,307

Max offer price $488,112

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 W 131st St Apt 2 New York, NY	3.0	2.0	2000	$6,750	$3.38	24d	1	0.35mi
114 W 131st St Apt 2 New York, NY	3.0	2.0	2000	$6,150	$3.08	18d	1	0.35mi
12 W 127th St Unit 1 New York, NY	3.0	3.5	1899	$8,999	$4.74	24d	1	0.58mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	11d	23	0.67mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	24d	1	0.70mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,134	$5.08	2d	183	0.77mi
241 Lenox Ave #1 New York, NY	1.0	1.0	1175	$8,000	$6.81	19d	1	0.78mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	10d	1	1.08mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	2d	7	1.08mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	24d	1	1.23mi
1280 5th Ave Unit 15G New York, NY	3.0	3.0	1640	$10,500	$6.40	19d	1	1.44mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,145	$4.92	1d	1	1.47mi

HOA detail condo

• Monthly dues: $2,317 · $27,804/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $499,999 Active 371 DOM
2. 2026-06-17
   days on market $499,999 Active 370 DOM
3. 2026-06-15
   days on market $499,999 Active 368 DOM
4. 2026-06-13
   days on market $499,999 Active 366 DOM
5. 2026-06-10
   days on market $499,999 Active 362 DOM
6. 2026-06-08
   days on market $499,999 Active 361 DOM
7. 2026-06-03
   days on market $499,999 Active 356 DOM
8. 2026-06-01
   days on market $499,999 Active 354 DOM
9. 2026-05-31
   days on market $499,999 Active 353 DOM
10. 2025-09-17
    price $499,999
11. 2025-06-12
    listed $550,000 Active
12. 2025-04-05
    price $550,000
13. 2025-01-08
    price $599,000
14. 2013-11-25
    listed $549,000
15. 2013-11-25
    listed $549,000
16. 2013-11-25
    listed $549,000
17. 2013-11-25
    listed $549,000

ⓘ 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 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: $86,434
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,915
• − Management: −$6,915
• − HOA: −$27,804
• − Depreciation: −$14,545
• Taxable loss: −$7,753
• Est. tax savings @ 24.0%: +$1,861
• After-tax cash flow: $875/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
• City population: 7,731,280
• Population (ZIP): 18,333

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 0.58)
• Race & ethnicity: Black 60% Hispanic / Latino 21% Two or more races 11% White 11% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 9%
• Common ancestry: Scotch-Irish 1% Hispanic 1% Russian 1%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 74% English-only · Spanish 15% French/Haitian/Cajun 2% Arabic 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: ▲ 3.74%
• Current HPI: 166.9692
• Rent YoY: —
• Metro: —
• 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

-8.9% since first listed

8 events — show timeline

• 2025-09-17 Price Changed $499,999 RLS at REBNY
• 2025-06-12 Listed $550,000 RLS at REBNY
• 2025-04-05 Price Changed $550,000 RLS at REBNY
• 2025-01-08 Price Changed $599,000 RLS at REBNY
• 2013-11-25 Listed $549,000 RLS at REBNY
• 2013-11-25 Listed $549,000 RLS at REBNY
• 2013-11-25 Listed $549,000 RLS at REBNY
• 2013-11-25 Listed $549,000 RLS at REBNY