347 E 5th St Unit 1A · New York, NY 10003

$699,000

2 bd · 1.0 ba · — sqft · Condo · 17 Days on market

Built 1869 Good condition $1289/mo HOA

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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 +22.6/30.0
• Appreciation +9.7/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0

Listing remarks

Welcome to 347 East 5th Street, Apartment 1A - a move-in-ready two-bedroom sponsor unit that perfectly blends East Village charm with modern convenience. No board approval & no board package. Just one flight up, this stylish home features exposed brick, wide-plank hardwood floors, and an open-concept kitchen with new countertops, stainless steel appliances, and a dishwasher. An in-unit washer and dryer add everyday ease. The building offers virtual doorman access via Latch, 24/7 professional management, and Verizon Fios compatibility. Pets and guarantors are welcome, providing flexibility for a range of living needs. Ideal as a first downtown home or for sharing with a roommate, t

Key facts

• Open concept kitchen
• Exposed brick
• New countertops

Tags

• EXPOSED BRICK
• WIDE PLANK HARDWOOD FLOORS
• OPEN CONCEPT KITCHEN
• NEW COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• IN UNIT WASHER AND DRYER

Property features AI

Finance

• Other: Pets allowed in building (pets policies indicate allowed)
• HOA & community: Monthly association fee of $1,289

Exterior

• Home design: Entry on level 1; Building name: 83 First Avenue
• Exterior features: No notable exterior features listed; Zoning: R7A

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 4 rooms; Basement described as 'Other'
• Laundry & utility: In-unit laundry; Building has no laundry facilities

🏢 Co-op / cooperative unit. The $699,000 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 2-bed/1.0-bath condo listed at $699k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $689k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+9.2%/yr); 361 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $9,251/mo this rent would consume 72% of the median local household income ($154k/yr) (locally 3480% 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 $70k of equity ($5k loan paydown + $65k appreciation (9.3% 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 (9.3% appreciation + 8.0% rent growth), your $196k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1869 — 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 $688,515 (1.5% below list)

Questions for the listing agent

1. Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.32% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.42×
• Total profit: $473,860
• Equity at exit: $595,276

10-year hold

• IRR: 29.1%
• Equity multiple: 8.42×
• Total profit: $1,451,523
• Equity at exit: $1,248,774

Cash invested: $195,720 (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 10003

• Home prices YoY: 3.4%
• Rents YoY: 9.2%
• Active inventory: 361
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $9,251 high
• Mortgage (P&I): −$3,666
• Tax est. 1.5%: −$874 /mo · $10,485/yr
• Insurance: −$291
• HOA: −$1,289
• Vacancy / Maint / Mgmt: −$1,943
• Net cashflow: $1,189

Break-even live

Break-even rent $7,746

Max offer price $699,000

Occupancy floor 82%

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
93 1/2 E 7th St Unit 1054297P New York, NY	2.0	1.0	495	$10,000	$20.20	22d	1	0.11mi
212 E 10th St Unit 5A New York, NY	3.0	2.0	—	$11,500	—	7d	1	0.23mi
447 E 9th St Unit 1D New York, NY	3.0	1.0	—	$8,000	—	7d	1	0.24mi
196 Orchard St Unit 6H New York, NY	3.0	2.5	1360	$12,500	$9.19	24d	1	0.26mi
354 Bowery Unit 1035017P New York, NY	1.0	1.0	1194	$18,390	$15.40	6d	1	0.27mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$11,225	$10.59	1d	1	0.27mi
166 2nd Ave Unit 9KK New York, NY	2.0	1.5	950	$8,100	$8.53	7d	1	0.28mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$10,485	$12.94	4d	3	0.30mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$13,688	$10.56	3d	2	0.30mi
229 Chrystie St Unit 1415A New York, NY	2.0	2.0	—	$10,100	—	24d	1	0.31mi
229 Chrystie St Unit 1120 New York, NY	2.0	2.0	—	$10,485	—	24d	1	0.31mi
310 E 12th St Unit 5J New York, NY	3.0	2.0	—	$8,700	—	24d	1	0.33mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$8,710	$13.40	7d	2	0.33mi
211 E 3rd St Unit 8R New York, NY	3.0	2.0	—	$8,400	—	7d	1	0.34mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$16,510	$28.71	1d	2	0.34mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	24d	1	0.36mi
259 Elizabeth St Unit PHA New York, NY	3.0	2.0	—	$10,200	—	24d	1	0.39mi
207 2nd Ave New York, NY	3.0	1.0	—	$8,250	—	7d	2	0.40mi
251 E 13th St New York, NY	3.0	2.0	—	$10,795	—	24d	1	0.41mi
251 E 13th St New York, NY	3.0	2.0	—	$10,795	—	7d	1	0.41mi
51 E Houston St New York, NY	3.0	2.0	—	$10,500	—	24d	1	0.41mi
252 Mott St New York, NY	3.0	2.0	—	$9,995	—	22d	1	0.43mi
252 Mott St New York, NY	3.0	2.0	—	$9,995	—	24d	1	0.43mi
252 Mott St New York, NY	3.0	2.0	—	$9,995	—	2d	1	0.43mi
252 Mott St New York, NY	3.0	2.0	—	$9,995	—	7d	1	0.43mi
248 Mott St New York, NY	3.0	2.0	—	$9,995	—	24d	1	0.44mi
248 Mott St New York, NY	3.0	2.0	—	$9,995	—	4d	1	0.44mi
248 Mott St New York, NY	3.0	2.0	—	$9,995	—	22d	1	0.44mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	24d	1	0.44mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	18d	1	0.44mi
202 E 13th St New York, NY	3.0	2.0	—	$8,995	—	22d	1	0.44mi
60 E 8th St New York, NY	2.0	2.0	—	$11,000	—	24d	1	0.45mi
251 E 2nd St Unit PHA New York, NY	2.0	2.0	—	$11,000	—	24d	1	0.45mi
125 E 12th St Unit 1C New York, NY	3.0	2.5	2059	$20,000	$9.71	4d	1	0.46mi
388 E 10th St Unit 2C New York, NY	1.0	1.0	—	$5,000	—	18d	1	0.48mi
388 E 10th St Unit 1 New York, NY	2.0	1.0	—	$6,000	—	18d	1	0.48mi
510 E 14th St New York, NY	2.0–3.0	2.0–3.0	—	$9,925	—	24d	2	0.48mi
68 Clinton St New York, NY	3.0	1.0	—	$8,495	—	7d	1	0.48mi
234 Mott St Unit 21 New York, NY	2.0	1.0	—	$7,995	—	7d	1	0.48mi
64 Delancey St New York, NY	3.0	1.0	—	$7,700	—	7d	1	0.48mi

HOA detail condo

• Monthly dues: $1,289 · $15,468/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $699,000 Active 17 DOM
2. 2026-06-17
   days on market $699,000 Active 16 DOM
3. 2026-06-16
   days on market $699,000 Active 15 DOM
4. 2026-06-15
   days on market $699,000 Active 14 DOM
5. 2026-06-13
   days on market $699,000 Active 12 DOM
6. 2026-06-10
   price $699,000 Active 8 DOM
7. 2026-06-09
   days on market $749,000 Active 8 DOM
8. 2026-06-08
   days on market $749,000 Active 7 DOM
9. 2026-06-08
   days on market $749,000 Active 6 DOM
10. 2026-06-04
    days on market $749,000 Active 3 DOM
11. 2026-06-03
    days on market $749,000 Active 2 DOM
12. 2026-06-02
    remarks 695-char remark
13. 2026-06-02
    listed $749,000 Active 1 DOM

ⓘ 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 7/10 Severe 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $111,014
• − Mortgage interest: −$39,155
• − Property taxes: −$10,485
• − Insurance: −$3,495
• − Repairs & maintenance: −$8,881
• − Management: −$8,881
• − HOA: −$15,468
• − Depreciation: −$20,335
• Taxable income: $4,315
• Est. tax owed @ 24.0%: −$1,035
• After-tax cash flow: $13,230/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 · 8 photos

Good 80/100 Cosmetic rehab

This move-in-ready two-bedroom apartment in the East Village offers modern amenities and a charming design, with a good condition score and minimal repairs needed.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint — refreshes interior and exterior
• Both HVAC upgrade — improves comfort and energy efficiency
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint — refreshes interior and exterior ↑
• Both HVAC upgrade — improves comfort and energy efficiency ↑
• Both landscaping — enhances curb appeal and adds 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): 53,560
• Household income: $154,262
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 3480.0

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: Majority White (64%)
• Race & ethnicity: White 64% Asian 18% Hispanic / Latino 10% Two or more races 8% Black 4%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 5% Romanian 5% Lithuanian 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 78% English-only · Spanish 5% Chinese 4% French/Haitian/Cajun 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: ▲ 9.32%
• Current HPI: 284.9232
• Rent YoY: ▲ 9.24%
• 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

+12813.8% since first listed

5 events — show timeline

• 2026-06-01 Listed $749,000 RLS at REBNY
• 2026-03-06 Price Changed $749,900 RLS at REBNY
• 2025-05-13 Rental Removed $5,495 REBNY
• 2025-05-06 Price Changed $5,495 REBNY
• 2025-05-02 Listed for Rent $5,800 REBNY