555 Lenox Ave Unit 4C · New York, NY 10037

$385,000

1 bd · 1.0 ba · 531 sqft · Condo public records · 162 Days on market

Built 1910 $778/mo HOA · 19% of rent ↓ 4% 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 +15.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

As Seen in the New York Times! Open House Sun 2/22 CANCELLED - Please reach out for an Appointment - we'll be happy to have you Welcome to this refined one-bedroom condo at 555 Lenox Avenue, a beautifully executed pre-war condominium offering premium amenities in the heart of Central Harlem. This spacious and quiet residence features hardwood floors, soaring ceilings, and an open, well-proportioned layout ideal for modern living. The renovated kitchen is outfitted with contemporary finishes, complete with updated stainless steel appliances, including the dishwasher, while the flexible living area easily accommodates a dining area or dedicated work-from-home setup. A private balcony extend

Key facts

• Pre-war condominium
• Fitness center
• Private balcony

Tags

• PRE-WAR CONDOMINIUM
• RENOVATED KITCHEN
• PRIVATE BALCONY
• FURNISHED ROOFTOP DECK
• FITNESS CENTER
• LAUNDRY ROOM

Property features AI

Finance

• Other: 32 total units in the building
• Financial info: Pets allowed in building
• HOA & community: Monthly association fee of $778.02; Building has elevator(s)

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Details not provided
• Home design: Located on 4th entry level; 5-story building (The Savoy West)
• Construction: Details not provided
• Exterior features: Private balcony; Building balcony; Rooftop access; Private outdoor space under 60 sqft

Interior

• Kitchen: Details not provided
• Bedrooms: Information not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Details not provided
• Interior features: 3 total rooms
• Laundry & utility: Building laundry in basement; Common on-floor laundry available; In-basement laundry access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $385k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $339k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $14k 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 $108k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: 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 $338,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.09% ✓
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 7.6

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: 11.0%
• Equity multiple: 1.66×
• Total profit: $70,684
• Equity at exit: $189,349

10-year hold

• IRR: 12.8%
• Equity multiple: 3.06×
• Total profit: $221,777
• Equity at exit: $305,116

Cash invested: $107,800 (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: 7.6×

Monthly cashflow live

• Estimated rent: $4,200 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$225 /mo · $2,695/yr
• Insurance: −$160
• HOA: −$778
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $136

Break-even live

Break-even rent $4,028

Max offer price $385,000

Occupancy floor 92%

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	0.22mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,900	$3.38	11d	23	0.67mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	1d	183	0.77mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	3d	2	1.34mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	1.47mi

HOA detail condo

• Monthly dues: $778 · $9,336/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $385,000 Active 162 DOM
2. 2026-06-17
   days on market $385,000 Active 161 DOM
3. 2026-06-15
   days on market $385,000 Active 159 DOM
4. 2026-06-13
   days on market $385,000 Active 157 DOM
5. 2026-06-10
   days on market $385,000 Active 153 DOM
6. 2026-06-08
   days on market $385,000 Active 152 DOM
7. 2026-06-04
   days on market $385,000 Active 148 DOM
8. 2026-06-03
   days on market $385,000 Active 147 DOM
9. 2026-06-01
   days on market $385,000 Active 145 DOM
10. 2026-05-31
    days on market $385,000 Active 144 DOM
11. 2026-04-21
    price $385,000
12. 2026-01-07
    listed $400,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,695 · $225/mo
• Projected year-2 tax: $4,601 · $383/mo
• Expected delta: +$1,906/yr (+$159/mo · 70.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $50,399
• − Mortgage interest: −$21,566
• − Property taxes: −$2,695
• − Insurance: −$1,925
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − HOA: −$9,336
• − Depreciation: −$11,200
• Taxable loss: −$4,387
• Est. tax savings @ 24.0%: +$1,053
• After-tax cash flow: $2,684/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

-3.8% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $385,000 RLS at REBNY
• 2026-01-07 Listed $400,000 RLS at REBNY

Property tax history

+13.4%/yr

Latest (2025): $2,695 · -6.3% YoY. Source: county tax records.