244 Madison Ave Unit 10A · New York, NY 10016

$525,000

1 bd · 1.0 ba · 750 sqft · Condo public records · 118 Days on market

Built 1916 ↓ 37% since listing

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Why this score? — see what drove the D 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
• 1% rule +6.3/10.0
• Appreciation +6.3/10.0
• Cash flow +6.2/30.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0

Listing remarks

Welcome to Apartment 10A, a sprawling, pin-drop quiet sanctuary in the heart of Midtown South. This isn't your typical New York one-bedroom; it's a pre-war loft characterized by grand proportions and soaring 12-foot ceilings. The expansive, loft-like living room features custom built-in bookshelves and ample space for multiple seating areas. A raised dining platform adds a touch of architectural flair, perfect for hosting dinner parties or a sophisticated home office setup. The Kitchen: A chef's delight, the renovated eat-in kitchen boasts full-sized stainless steel appliances-including a wine fridge and dishwasher-paired with custom cabinetry that maximizes the verticality of the space. Pr

Key facts

• High ceilinged loft
• Landscaped roof deck
• Built 1916

Tags

• HIGH CEILINGED LOFT
• CUSTOM BUILT-IN BOOKSHELVES
• RENOVATED EAT-IN KITCHEN
• DEDICATED DRESSING AREA
• DOUBLE-STANDING SHOWER
• LANDSCAPED ROOF DECK

Property features AI

Finance

• HOA & community: Has association with monthly fees; Association fees cover common area maintenance, exterior maintenance, grounds care, heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Cooktop; Oven; Microwave; Refrigerator; Other kitchen appliances
• Bedrooms: 3 total rooms (configuration not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/window air conditioning units
• Interior features: Built-in features; Elevator; High ceilings; Entry on 10th floor; Pets allowed (case-by-case, contact management)
• Laundry & utility: Washer/dryer details not provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $525k.

Deal economics

• At list price, monthly cash flow is $-963 ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $525k).
• Recommended offer: $478k (9.0% below list) — sets the bar for market timing.
• Cap rate 4.1% 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: Rents rising fast (+5.4%/yr); 491 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $5,916/mo this rent would consume 51% of the median local household income ($140k/yr) (locally 5269% 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 $18k of equity ($4k loan paydown + $14k appreciation (2.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent; built in 1916 — 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 $477,750 (9.0% 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 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1916 — 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. 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?
11. 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.
12. 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.
13. 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: 1.13% ✓
• Cap rate: 4.09%
• Cash-on-cash: -7.86%
• DSCR: 0.65
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.7% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $9,635
• Equity at exit: $227,166

10-year hold

• IRR: 6.8%
• Equity multiple: 2.07×
• Total profit: $156,604
• Equity at exit: $343,324

Cash invested: $147,000 (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 10016

• Home prices YoY: 0.9%
• Rents YoY: 5.4%
• Active inventory: 491
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $5,916 high
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,875/yr
• Insurance: −$219
• HOA est. from 1 same-building comp: −$2,008
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $-963

Break-even live

Break-even rent $7,134

Max offer price $385,682

Occupancy floor —

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	7d	3	0.12mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	1d	3	0.12mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	24d	4	0.20mi
556 3rd Ave New York, NY	1.0	1.0	540	$5,635	$10.44	1d	2	0.26mi
556 3rd Ave New York, NY	1.0	1.0	580	$5,240	$9.03	19d	2	0.26mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	7d	3	0.30mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	7d	13	0.32mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,600	$5.09	6d	19	0.34mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$4,525	$4.11	2d	20	0.34mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	24d	18	0.34mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	20d	19	0.34mi
222 E 39th St New York, NY	4.0	1.0–2.0	1100	$5,784	$5.26	10d	19	0.34mi
121 Madison Ave New York, NY	2.0–4.0	1.0–2.0	1012	$7,295	$7.20	7d	3	0.38mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	7d	2	0.40mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	6d	1	0.40mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	7d	2	0.44mi
10 E 29th St New York, NY	1.0–3.0	1.0–3.0	1323	$6,283	$4.75	1d	4	0.45mi
230 E 32nd St New York, NY	2.0	1.0	800	$5,395	$6.74	16d	2	0.46mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	24d	2	0.47mi
279 E 44th St #894 New York, NY	1.0	1.0	950	$7,190	$7.57	6d	1	0.51mi
241 5th Ave Unit 11A New York, NY	2.0	2.0	991	$8,995	$9.08	24d	1	0.52mi
135 E 47th St New York, NY	1.0	1.0	572	$6,600	$11.53	6d	1	0.52mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.52mi
18 W 48th St Unit 670 New York, NY	1.0	1.0	631	$7,730	$12.25	7d	1	0.54mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	3d	9	0.57mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	24d	1	0.57mi
117 W 28th St #1467 New York, NY	1.0	2.0	1000	$8,760	$8.76	24d	1	0.59mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	24d	2	0.59mi
399 E 34th St Unit 1025362P New York, NY	1.0	1.0	570	$9,174	$16.09	22d	1	0.59mi
303 Park Ave #2321 New York, NY	1.0	1.5	808	$14,500	$17.95	7d	1	0.60mi
303 Park Ave #2203 New York, NY	1.0	1.5	796	$13,500	$16.96	7d	1	0.60mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	1d	55	0.63mi
330 E 46th St #1794 New York, NY	1.0	1.0	489	$4,990	$10.19	24d	2	0.64mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	14d	1	0.64mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	20d	1	0.64mi
776 6th Ave New York, NY	2.0	1.0–2.0	756	$7,743	$10.24	1d	18	0.66mi
250 E 49th St Unit 4A New York, NY	1.0	1.0	802	$6,400	$7.98	24d	1	0.67mi
1600 Broadway #697 New York, NY	1.0–2.0	1.0	900	$5,810	$6.46	24d	3	0.73mi
244 W 29th St Unit 2149 New York, NY	1.0	1.0	490	$9,720	$19.84	6d	2	0.75mi
243 W 28th St #2143 New York, NY	1.0	1.0	580	$8,960	$15.45	18d	1	0.75mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-18
   days on market $525,000 Active 118 DOM
2. 2026-06-17
   days on market $525,000 Active 117 DOM
3. 2026-06-15
   days on market $525,000 Active 115 DOM
4. 2026-06-13
   days on market $525,000 Active 113 DOM
5. 2026-06-10
   days on market $525,000 Active 109 DOM
6. 2026-06-08
   days on market $525,000 Active 108 DOM
7. 2026-06-08
   days on market $525,000 Active 107 DOM
8. 2026-06-04
   days on market $525,000 Active 104 DOM
9. 2026-06-03
   days on market $525,000 Active 103 DOM
10. 2026-06-01
    days on market $525,000 Active 101 DOM
11. 2026-05-31
    pricedays on market $525,000 Active 100 DOM
12. 2026-04-22
    price $530,000
13. 2026-03-24
    price $535,000
14. 2026-02-20
    listed $545,000 Active
15. 2022-06-22
    listed $550,000 Active
16. 2019-07-27
    historical Permanently Off Market
17. 2019-07-17
    price $795,000
18. 2019-07-10
    price $825,000
19. 2019-06-03
    listed $835,000 Active
20. 2019-06-03
    listed $795,000

ⓘ 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: $70,988
• − Mortgage interest: −$29,408
• − Property taxes: −$7,875
• − Insurance: −$2,625
• − Repairs & maintenance: −$5,679
• − Management: −$5,679
• − HOA: −$24,096
• − Depreciation: −$15,273
• Taxable loss: −$19,647
• Est. tax savings @ 24.0%: +$4,715
• After-tax cash flow: $-6,838/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): 52,971
• Household income: $140,381
• Rent vs Own: 74.9% rent · 25.1% own
• Severe rent burden: 5269.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Chinese 5%

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: ▲ 2.70%
• Current HPI: 313.0343
• Rent YoY: ▲ 5.42%
• 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

-36.5% since first listed

9 events — show timeline

• 2026-04-22 Price Changed $530,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $535,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Listed $545,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-22 Listed $550,000 RLS at REBNY
• 2019-07-27 Delisted — RLS at REBNY
• 2019-07-17 Price Changed $795,000 RLS at REBNY
• 2019-07-10 Price Changed $825,000 RLS at REBNY
• 2019-06-03 Listed $795,000 RLS at REBNY
• 2019-06-03 Listed $835,000 RLS at REBNY