418 E 59th St Unit 11A · New York, NY 10022

$1,280,000

2 bd · 2.5 ba · 1,400 sqft · Condo · 148 Days on market

Built 1989

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Why this score? — see what drove the F 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 +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +2.0/30.0
• 1% rule +2.0/10.0
• DSCR +0.0/10.0

Listing remarks

Spacious and bright two-bedroom / two-and-a-half bathroom located conveniently in the Sutton Place neighborhood. This approximately 1400 sqft apartment receives fantastic light from the north in the living areas as it benefits from open views and space over the Queensboro Bridge. Nine-foot tall ceilings and oversized windows throughout frame the views and allow the light to pour in. This layout has well separated rooms, each of which is well-proportioned. The master bathroom which has undergone renovation in this unit features a standing stall shower, separate tub with a window beside it, and an oversized vanity. The Grand Sutton is a luxury building that features 24-hour doorman service, a

Key facts

• Built 1989
• Listed 148 days

Tags

• RENOVATED MASTER BATHROOM
• FANTASTIC LIGHT FROM NORTH
• OVERSIZED WINDOWS THROUGHOUT
• LUXURY BUILDING AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $1.28M.

Deal economics

• At list price, monthly cash flow is $-5k ($-57k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.02M (20.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $895k (30.1% below list).
• Recommended offer: $895k (30.1% below list) — sets the bar for 1% rule.
• Cap rate 1.9% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+8.7%/yr); 715 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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).
• At $8,950/mo this rent would consume 62% of the median local household income ($172k/yr) (locally 2256% 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 $72k of equity ($9k loan paydown + $64k appreciation (5.0% 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 ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: moderate flood risk; 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 $894,964 (30.1% 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 148 days. Have you received any prior offers? Is the seller open to a 30% 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. 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?
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: 0.70% ✗
• Cap rate: 1.88%
• Cash-on-cash: -15.77%
• DSCR: 0.30
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.97% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.12×
• Total profit: $41,834
• Equity at exit: $722,802

10-year hold

• IRR: 7.0%
• Equity multiple: 2.41×
• Total profit: $504,426
• Equity at exit: $1,245,348

Cash invested: $358,400 (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 10022

• Home prices YoY: 2.4%
• Rents YoY: 8.7%
• Active inventory: 715
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $8,950 high
• Mortgage (P&I): −$6,712
• Tax est. 1.5%: −$1,600 /mo · $19,200/yr
• Insurance: −$533
• HOA est. from 6 same-building comps: −$2,935
• Vacancy / Maint / Mgmt: −$1,879
• Net cashflow: $-4,711

Break-even live

Break-even rent $14,912

Max offer price $598,372

Occupancy floor —

Sensitivity live

Price	-10% $-3,826	-5% $-4,268	+0% $-4,711	+5% $-5,153	+10% $-5,595
Rent	-10% $-5,418	-5% $-5,064	+0% $-4,711	+5% $-4,357	+10% $-4,004
Rate	-1.0pp $-4,066	-0.5pp $-4,385	base $-4,711	+0.5pp $-5,042	+1.0pp $-5,380

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: $320,000
• Closing costs: $38,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 E 60th St Unit 37B New York, NY	3.0	3.0	1560	$10,000	$6.41	12d	1	0.09mi
420 E 61st St Unit 1330815P New York, NY	2.0–3.0	2.0–3.0	1490	$11,424	$7.67	0d	2	0.10mi
400 E 57th St #2106 New York, NY	2.0	1.0–2.0	903	$8,590	$9.51	4d	3	0.11mi
400 E 57th St New York, NY	1.0–2.0	1.0–2.0	1436	$6,595	$4.59	25d	3	0.13mi
420 E 54th St New York, NY	3.0	1.0–2.5	1104	$10,299	$9.32	0d	14	0.26mi
301 E 63rd St New York, NY	2.0	1.0	975	$6,650	$6.82	5d	1	0.29mi
360 E 65th St #1283 New York, NY	1.0–3.0	1.0–2.0	1059	$6,815	$6.44	4d	3	0.31mi
207 E 57th St Unit 16A New York, NY	3.0	3.0	1551	$13,750	$8.87	25d	1	0.33mi
885 Main St Unit 6B New York, NY	2.0	2.0	950	$5,300	$5.58	0d	1	0.33mi
885 Main St #705 New York, NY	2.0	2.0	1100	$4,800	$4.36	0d	1	0.33mi
400 E 66th St Unit 1016404P New York, NY	1.0–2.0	1.0–2.0	791	$17,070	$21.58	4d	2	0.34mi
323 E 51st St Unit 1024750P New York, NY	2.0–4.0	2.0–3.5	2093	$21,945	$10.48	0d	3	0.41mi
150 E 57th St New York, NY	5.0	1.0–7.5	2750	$15,738	$5.72	3d	5	0.41mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$7,630	$9.65	4d	3	0.42mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$7,930	$9.06	3d	3	0.44mi
411 E 68th St Unit 1021976P New York, NY	2.0	1.0	893	$6,792	$7.61	23d	1	0.48mi
403 E 69th St #1518 New York, NY	1.0–3.0	1.0	745	$6,748	$9.06	25d	3	0.52mi
40-44 E 61st St Unit 15B New York, NY	2.0	2.0	1200	$15,000	$12.50	16d	1	0.59mi
138 E 50th St New York, NY	2.0	2.0–2.5	1432	$13,650	$9.53	25d	1	0.61mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$8,572	$9.76	4d	9	0.66mi
300-302 E 46th St Unit 12J New York, NY	3.0	1.0	900	$8,000	$8.89	6d	1	0.67mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	25d	2	0.67mi
279 E 44th St #894 New York, NY	1.0	1.0	950	$7,190	$7.57	7d	1	0.76mi
501 E 74th St #1572 New York, NY	2.0	2.0	1000	$10,210	$10.21	21d	1	0.77mi
110 E 71st St #7 New York, NY	2.0	2.0	1200	$11,500	$9.58	25d	1	0.78mi
641 5th Ave New York, NY	1.0–2.0	2.0–2.5	1794	$16,500	$9.20	25d	2	0.80mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,210	$6.57	0d	2	0.80mi
1435 2nd Ave Unit 1021957P New York, NY	3.0	2.0	1194	$7,740	$6.48	13d	1	0.83mi
404 E 76th St New York, NY	1.0–2.0	1.0–2.0	1001	$7,500	$7.49	5d	2	0.84mi
40 W 55th St Unit 5D New York, NY	2.0	2.5	1070	$6,500	$6.07	25d	1	0.86mi
404 E 76th St Unit 19C New York, NY	2.0	2.0	1100	$7,500	$6.82	25d	1	0.86mi
50 E 72nd St Unit 7B New York, NY	2.0	3.0	1650	$17,000	$10.30	0d	1	0.86mi
50 E 72nd St Unit 10B New York, NY	3.0	3.0	1645	$17,500	$10.64	20d	1	0.86mi
55 W 55th St Unit 9AA New York, NY	2.0	1.5	1000	$6,000	$6.00	21d	1	0.88mi
255 E 77th St Unit 12B New York, NY	2.0	2.5	1475	$17,500	$11.86	18d	1	0.96mi
685 1st Ave Unit 1321817P New York, NY	2.0	2.0	1367	$17,447	$12.76	23d	1	0.97mi
475 48th Ave Long Island City, NY	3.0	1.0–3.0	1293	$7,176	$5.55	0d	1	0.99mi
923 5th Ave Unit 7C New York, NY	2.0	2.0	1469	$13,000	$8.85	19d	1	1.01mi
435 E 79th St New York, NY	1.0–3.0	1.0–2.0	943	$7,500	$7.95	8d	3	1.03mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$29,625	$19.11	8d	9	1.04mi

HOA detail condo

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

Listing history 2 events

1. 2025-03-07
   status Pending
2. 2024-10-10
   listed $1,280,000 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 5/10 Major FEMA zone X (unshaded) · 14% 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: $107,396
• − Mortgage interest: −$71,700
• − Property taxes: −$19,200
• − Insurance: −$6,400
• − Repairs & maintenance: −$8,592
• − Management: −$8,592
• − HOA: −$35,220
• − Depreciation: −$37,236
• Taxable loss: −$79,544
• Est. tax savings @ 24.0%: +$19,091
• After-tax cash flow: $-37,436/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): 34,049
• Household income: $172,026
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 2256.0

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 (73%)
• Race & ethnicity: White 73% Asian 12% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 6% Other Indo-European 6% Chinese 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: ▲ 4.97%
• Current HPI: 215.7225
• Rent YoY: ▲ 8.69%
• 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

2 events — show timeline

• 2025-03-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-10 Listed $1,280,000 OneKey® MLS as Distributed by MLS Grid