134th street 237 Unit 2W · New York, NY 10030

$350,000

1 bd · 1.0 ba · 715 sqft · Condo public records · 98 Days on market

Built 1920 ↓ 12% 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 +25.1/30.0
• Appreciation +9.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious 1-Bedroom Condo in Central Harlem Discover this spacious 1-bedroom condo in the heart of Central Harlem! Conveniently located near the 2, 3, A, and C trains, this property offers unparalleled access to the best of New York City. Key Features: Prime Location: Close to Harlem Hospital, Arthur A. Schomburg Library, and just 10 blocks from the iconic Apollo Theater. Proximity to Amenities: Walking distance to schools (childcare, elementary, middle, and high school), local eateries, and vibrant attractions that make Harlem a cultural hub. Transportation: Easy access to multiple subway lines, making commutes a breeze. Community Living: Nestled in a neighborhood filled with rich history

Key facts

• Built 1920
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+8.8%/yr); 72 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,807/mo this rent would consume 115% of the median local household income ($40k/yr) (locally 4110% 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 $31k of equity ($2k loan paydown + $28k appreciation (8.1% 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 (8.1% appreciation + 8.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $318,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.09% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.05% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.19×
• Total profit: $214,434
• Equity at exit: $267,012

10-year hold

• IRR: 28.3%
• Equity multiple: 7.49×
• Total profit: $636,284
• Equity at exit: $531,075

Cash invested: $98,000 (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 10030

• Home prices YoY: 2.3%
• Rents YoY: 8.8%
• Active inventory: 72
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,807 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$255 /mo · $3,056/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $772

Break-even live

Break-even rent $2,830

Max offer price $350,000

Occupancy floor 75%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.15mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$2,900	$3.38	11d	23	0.87mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$2,856	$2.82	1d	183	0.97mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$5,550	$7.11	3d	2	1.05mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$6,310	$3.81	1d	1	1.20mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$8,500	$15.21	21d	1	1.48mi

HOA detail condo

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

Listing history 5 events

1. 2025-04-29
   status Pending
2. 2025-04-17
   price $350,000
3. 2025-01-15
   listed $379,000 Active
4. 2024-09-24
   price $389,000
5. 2024-09-03
   price $399,000

ⓘ 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: $3,056 · $255/mo
• Projected year-2 tax: $4,485 · $374/mo
• Expected delta: +$1,430/yr (+$119/mo · 46.8%)

ⓘ 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: $45,685
• − Mortgage interest: −$19,605
• − Property taxes: −$3,056
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,655
• − Management: −$3,655
• − Depreciation: −$10,182
• Taxable income: $3,782
• Est. tax owed @ 24.0%: −$908
• After-tax cash flow: $8,352/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): 29,297
• Household income: $39,802
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 4110.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6% Dominican 11%
• Common ancestry: Hispanic 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 21% French/Haitian/Cajun 5% Chinese 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: ▲ 8.05%
• Current HPI: 354.2971
• Rent YoY: ▲ 8.84%
• 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

-12.3% since first listed

5 events — show timeline

• 2025-04-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Price Changed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-15 Listed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-24 Price Changed $389,000 RLS at REBNY
• 2024-09-03 Price Changed $399,000 RLS at REBNY

Property tax history

+39.9%/yr

Latest (2025): $3,056 · +70.1% YoY. Source: county tax records.