342 E 119th St Unit 2A · New York, NY 10035

$550,000

2 bd · 2.0 ba · 900 sqft · Condo public records · 82 Days on market

Built 2004 $1250/mo HOA · 23% of rent

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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
• Cash flow +7.3/30.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0

Listing remarks

Bright 2 Bedroom, 2 Bathroom Home at The Rio in East Harlem 342 East 119th Street, Apt 2A New York, NY Welcome to Residence 2A at The Rio, a well-maintained cooperative located in East Harlem, Manhattan. This bright two-bedroom, two-bathroom home offers a comfortable layout with large windows that bring in excellent natural light throughout the living space. The apartment features a spacious living and dining area, ideal for relaxing or entertaining. The open kitchen features full-size appliances, ample cabinet storage, and a breakfast bar that seamlessly connects to the main living space. The primary bedroom includes a walk-in closet and a private en-suite bathroom. The second bedroo

Key facts

• Large windows
• Good closet space
• Walk-in closet

Tags

• LARGE WINDOWS
• OPEN KITCHEN
• BREAKFAST BAR
• WALK-IN CLOSET
• PRIVATE EN-SUITE BATHROOM
• GOOD CLOSET SPACE

Property features AI

Finance

• Financial info: Pets allowed in building (details indicate yes)
• HOA & community: Monthly association fee of $1,250

Exterior

• Parking: Has garage
• Home design: Located in a 7-story building; Building name is THE RIO; Entry on level 2; South-facing exposure
• Exterior features: No specific exterior features listed

Interior

• Bedrooms: Entry level is 2
• Bathrooms: 2 full bathrooms
• Interior features: Total of 6 rooms; Basement described as other; Building offers bike storage; South exposure; Has a view
• Laundry & utility: Laundry located in the building

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $550k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $381k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $546k (0.8% below list).
• Recommended offer: $381k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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: Rents rising fast (+5.6%/yr); 71 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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).
• At $5,458/mo this rent would consume 145% of the median local household income ($45k/yr) (locally 3992% 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 $22k of equity ($4k loan paydown + $18k appreciation (3.2% 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 ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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: flood insurance adds $427/mo; HOA is 23% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $381,347 (30.7% 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 82 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.99% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.76%
• DSCR: 0.74
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.23% appreciation · 5.62% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.10×
• Total profit: $14,666
• Equity at exit: $254,501

10-year hold

• IRR: 6.8%
• Equity multiple: 2.13×
• Total profit: $173,776
• Equity at exit: $397,907

Cash invested: $154,000 (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 10035

• Home prices YoY: 1.0%
• Rents YoY: 5.6%
• Active inventory: 71
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $5,458 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,250
• Vacancy / Maint / Mgmt: −$1,146
• Net cashflow: $-1,166

Break-even live

Break-even rent $6,934

Max offer price $381,347

Occupancy floor —

Sensitivity live

Price	-10% $-785	-5% $-975	+0% $-1,166	+5% $-1,356	+10% $-1,546
Rent	-10% $-1,597	-5% $-1,381	+0% $-1,166	+5% $-950	+10% $-734
Rate	-1.0pp $-889	-0.5pp $-1,026	base $-1,166	+0.5pp $-1,308	+1.0pp $-1,453

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 E 109th St Unit 1021947P New York, NY	3.0	1.0	818	$7,260	$8.88	6d	1	0.47mi
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	25d	1	0.62mi
2051 2nd Ave Unit 1565856P New York, NY	2.0	1.0	914	$6,836	$7.48	0d	1	0.68mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,136	$5.08	0d	184	0.68mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,022	$4.69	0d	21	0.76mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	25d	1	0.82mi
1399 Park Ave Unit 10C New York, NY	2.0	2.0	962	$5,500	$5.72	0d	1	0.85mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	16d	1	0.92mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	25d	1	1.12mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,770	$10.84	0d	1	1.13mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$7,403	$12.69	0d	3	1.14mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$6,380	$10.63	3d	2	1.15mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$6,100	$8.24	0d	2	1.18mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	25d	1	1.19mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	12d	1	1.21mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	4d	3	1.23mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.23mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	8d	1	1.23mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.23mi
53-55 E 95th St Unit 4A New York, NY	3.0	2.0	803	$7,495	$9.33	8d	1	1.27mi
354 E 91st St #648 New York, NY	1.0–2.0	1.0	692	$6,850	$9.89	0d	2	1.40mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$8,940	$11.45	0d	2	1.41mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	5d	1	1.42mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	22d	1	1.43mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,138	$4.92	0d	1	1.43mi
1377 Lexington Ave Unit 5CC New York, NY	2.0	1.0	796	$5,100	$6.41	20d	1	1.44mi
118 E 91st St Unit 1022052P New York, NY	3.0	1.0	592	$6,180	$10.44	8d	1	1.45mi
235 E 89th St Unit 1495783P New York, NY	2.0	1.0	699	$7,443	$10.65	21d	1	1.48mi

HOA detail condo

• Monthly dues: $1,250 · $15,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-05-12
   price $550,000
2. 2026-05-12
   historical
3. 2026-05-11
   price $550,000
4. 2026-04-27
   price $525,000
5. 2026-04-22
   price $525,000
6. 2026-03-05
   listed $550,000 Active
7. 2026-03-05
   listed $550,000 Active
8. 2025-12-31
   historical
9. 2025-07-07
   listed $550,000 Active
10. 2023-07-01
    historical
11. 2022-08-19
    status Active
12. 2022-05-07
    historical
13. 2022-04-07
    listed $595,000 Active
14. 2021-11-02
    historical
15. 2021-10-08
    status Active
16. 2021-06-24
    historical
17. 2021-06-24
    status Pending
18. 2021-06-21
    historical
19. 2021-06-03
    price $508,000
20. 2021-04-20
    listed $525,000 Active
21. 2021-04-16
    listed $525,000 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 8/10 Severe FEMA zone AE · 78% 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,498
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$7,868
• − Repairs & maintenance: −$5,240
• − Management: −$5,240
• − HOA: −$15,000
• − Depreciation: −$16,000
• Taxable loss: −$22,909
• Est. tax savings @ 24.0%: +$5,498
• After-tax cash flow: $-8,488/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): 38,862
• Household income: $45,121
• Rent vs Own: 89.0% rent · 11.0% own
• Severe rent burden: 3992.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 42% Black 35% White 14% Two or more races 13% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 16% Dominican 10%
• Common ancestry: Lithuanian 2% Romanian 1% Scotch-Irish 1%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 34% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 3.23%
• Current HPI: 317.1637
• Rent YoY: ▲ 5.62%
• 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

+4.8% since first listed

21 events — show timeline

• 2026-05-12 Price Changed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $550,000 RLS at REBNY
• 2026-04-27 Price Changed $525,000 RLS at REBNY
• 2026-04-22 Price Changed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $550,000 RLS at REBNY
• 2025-12-31 Listing Removed — SIBORMLS
• 2025-07-07 Listed $550,000 SIBORMLS
• 2023-07-01 Listing Removed — SIBORMLS
• 2022-08-19 Relisted — SIBORMLS
• 2022-05-07 Listing Removed — SIBORMLS
• 2022-04-07 Listed $595,000 SIBORMLS
• 2021-11-02 Listing Removed — SIBORMLS
• 2021-10-08 Relisted — SIBORMLS
• 2021-06-24 Listing Removed — SIBORMLS
• 2021-06-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-06-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-06-03 Price Changed $508,000 SIBORMLS
• 2021-04-20 Listed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2021-04-16 Listed $525,000 SIBORMLS