2 S End Ave Unit 3M · New York, NY 10280

$520,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 173 Days on market

Built 1990 $1200/mo HOA · 24% 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
• Appreciation +7.2/10.0
• Cash flow +7.0/30.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0

Listing remarks

Closets, Size, Comfort, Light Describe 3M Welcome to an amenity rich building / 24 hr Gym, Stunning Roof top with multiple sitting areas, views of the Hudson River, Statue of Liberty, Ellis Island and the beautiful passing cruise ships Walk into the The Cove Club from a very quiet cul de sac that faces the Hudson River 3M is a sunny, bright east-facing one-bedroom condo with a tree-lined view Enter into a a hallway with a floor to ceiling closet that fits all. The pass-through kitchen has full-size stainless-steel appliances with a refrigerator, stove, microwave, and dishwasher. The extended countertop has a convenient breakfast bar with room for 4, right behind a dining area and the li

Key facts

• Stunning roof top
• 24 hr gym
• Breakfast bar

Tags

• 24 HR GYM
• STUNNING ROOF TOP
• VIEWS OF THE HUDSON RIVER
• FLOOR TO CEILING CLOSET
• BREAKFAST BAR
• OVERSIZED WINDOWS

Property features AI

Finance

• Other: Part of a 163-unit building
• HOA & community: Monthly association fee of $1,200; Building amenities include bike storage, cold storage, concierge, elevator(s), and game room; Pets allowed (dogs OK)

Exterior

• Parking: Has garage
• Security: Concierge
• Home design: 9-story building; The Cove Club
• Construction: Zoning: BPC
• Exterior features: Building courtyard; Building roof deck; Private outdoor space under 60 sqft; East exposure; Has view; Entry on level 3

Interior

• Kitchen: Dishwasher
• Bathrooms: 1 full bathroom
• Interior features: High ceilings; Total of 3 rooms; Basement: Other
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $520k.

Deal economics

• At list price, monthly cash flow is $-766 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $409k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $510k (2.0% below list).
• Recommended offer: $409k (21.3% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).

Forward outlook

• In year one you build about $26k of equity ($4k loan paydown + $23k appreciation (4.4% 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 ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($458k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $395k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $409,107 (21.3% 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 173 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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. 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?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.32%
• DSCR: 0.72
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.39% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.41×
• Total profit: $59,594
• Equity at exit: $275,452

10-year hold

• IRR: 9.5%
• Equity multiple: 2.68×
• Total profit: $245,067
• Equity at exit: $460,208

Cash invested: $145,600 (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 10280

• Home prices YoY: 1.7%
• Rents YoY: 4.1%
• Active inventory: 94
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $5,098 high
• Mortgage (P&I): −$2,727
• Tax est. 1.5%: −$650 /mo · $7,800/yr
• Insurance: −$217
• HOA: −$1,200
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $-766

Break-even live

Break-even rent $6,068

Max offer price $409,107

Occupancy floor —

Sensitivity live

Price	-10% $-407	-5% $-587	+0% $-766	+5% $-946	+10% $-1,126
Rent	-10% $-1,169	-5% $-968	+0% $-766	+5% $-565	+10% $-364
Rate	-1.0pp $-504	-0.5pp $-634	base $-766	+0.5pp $-901	+1.0pp $-1,038

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 West St #546 New York, NY	1.0	1.0	700	$5,770	$8.24	22d	1	0.19mi
389 S End Ave New York, NY	3.0	1.0–2.0	1080	$6,685	$6.19	3d	36	0.24mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	23d	1	0.36mi
3 Hanover Sq New York, NY	3.0	1.0–2.0	600	$4,534	$7.56	26d	5	0.45mi
63 Wall St #1971 New York, NY	1.0	1.0	489	$5,120	$10.46	1d	2	0.47mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$5,750	$9.03	4d	2	0.48mi
25 Water St Apt 706 New York, NY	—	1.0	550	$3,990	$7.25	26d	1	0.49mi
25 Water St Unit 707 New York, NY	—	1.0	550	$3,950	$7.18	26d	1	0.49mi
10 Hanover Sq New York, NY	2.0	1.0–2.0	790	$5,761	$7.29	1d	25	0.49mi
75 Wall St New York, NY	3.0	1.0–3.0	452	$7,598	$16.81	16d	16	0.51mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	26d	1	0.52mi
95 Wall St New York, NY	2.0	1.0–2.0	881	$5,978	$6.78	0d	33	0.54mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$8,040	$11.04	4d	2	0.61mi
400 Chambers St #587 New York, NY	2.0	1.0–1.5	675	$7,370	$10.91	9d	3	0.68mi
105 Duane St #183 New York, NY	2.0	1.0–2.0	821	$8,935	$10.88	1d	3	0.79mi
88 Leonard St New York, NY	1.0	1.0	598	$7,966	$13.32	9d	13	0.89mi
111 Worth St New York, NY	1.0–2.0	1.0–2.0	747	$6,077	$8.14	9d	7	0.90mi
77 Hudson St #1804 Jersey City, NJ	1.0	1.0	750	$4,100	$5.47	22d	1	1.04mi
77 Hudson St #2203 Jersey City, NJ	1.0	1.0	744	$4,200	$5.65	18d	1	1.04mi
77 Hudson St #2703 Jersey City, NJ	1.0	1.0	744	$4,950	$6.65	26d	1	1.04mi
33 Hudson St Jersey City, NJ	2.0	1.0–2.0	937	$4,678	$4.99	0d	22	1.04mi
70 Greene St Jersey City, NJ	3.0	1.0–2.0	960	$4,292	$4.47	0d	26	1.09mi
1 Harborside Pl Jersey City, NJ	1.0–2.0	1.0–2.0	1100	$3,822	$3.47	0d	8	1.13mi
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	26d	1	1.21mi
155 Washington St Jersey City, NJ	3.0	1.0–3.0	1545	$3,312	$2.14	1d	7	1.21mi
115 Morris St Jersey City, NJ	1.0–3.0	1.0–2.0	1101	$3,663	$3.33	0d	21	1.22mi
200 Greene St Jersey City, NJ	2.0	1.0	713	$4,660	$6.54	0d	49	1.26mi
15 Warren St Jersey City, NJ	1.0–2.0	1.0–2.0	942	$3,695	$3.92	9d	2	1.26mi
65 Bay St Jersey City, NJ	2.0	1.0–2.0	863	$4,763	$5.52	0d	12	1.27mi
100 Montgomery St Jersey City, NJ	1.0	1.0	650	$3,520	$5.42	1d	1	1.27mi
20 2nd St Jersey City, NJ	1.0–2.0	1.0–2.0	922	$3,350	$3.63	26d	4	1.28mi
120 York St Jersey City, NJ	1.0–2.0	1.0–2.0	962	$3,824	$3.98	0d	9	1.28mi
131 Dudley St Jersey City, NJ	1.0–2.0	1.0–2.0	1044	$3,378	$3.23	0d	5	1.28mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$5,650	$7.98	1d	2	1.28mi
25 Columbus Dr Jersey City, NJ	3.0	1.0–2.5	927	$6,700	$7.22	0d	33	1.31mi
142 Sussex St #3 Jersey City, NJ	1.0	1.0	668	$3,250	$4.87	3d	1	1.32mi
1 2nd St Jersey City, NJ	1.0–3.0	1.0–2.5	1032	$3,150	$3.05	13d	5	1.33mi
1 2nd St Jersey City, NJ	1.0–3.0	1.0–2.5	1032	$3,400	$3.29	9d	5	1.33mi
255 Warren St Jersey City, NJ	2.0	1.0–2.0	932	$4,160	$4.46	3d	7	1.34mi
198 Van Vorst St Jersey City, NJ	2.0	1.0–2.0	932	$3,438	$3.69	1d	5	1.34mi

HOA detail condo

• Monthly dues: $1,200 · $14,400/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $520,000 Active 173 DOM
2. 2026-06-18
   days on market $520,000 Active 170 DOM
3. 2026-06-17
   days on market $520,000 Active 169 DOM
4. 2026-06-15
   days on market $520,000 Active 167 DOM
5. 2026-06-13
   days on market $520,000 Active 165 DOM
6. 2026-06-10
   days on market $520,000 Active 161 DOM
7. 2026-06-08
   days on market $520,000 Active 160 DOM
8. 2026-06-04
   days on market $520,000 Active 156 DOM
9. 2026-06-03
   days on market $520,000 Active 155 DOM
10. 2026-06-01
    days on market $520,000 Active 153 DOM
11. 2026-05-31
    days on market $520,000 Active 152 DOM
12. 2025-12-30
    listed $525,000 Active
13. 2006-07-10
    soldstatus $395,000
14. 1998-06-30
    soldstatus $133,000
15. 1991-10-31
    soldstatus $121,000

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 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: $61,173
• − Mortgage interest: −$29,128
• − Property taxes: −$7,800
• − Insurance: −$2,600
• − Repairs & maintenance: −$4,894
• − Management: −$4,894
• − HOA: −$14,400
• − Depreciation: −$15,127
• Taxable loss: −$17,670
• Est. tax savings @ 24.0%: +$4,241
• After-tax cash flow: $-4,956/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): 8,933
• Household income: $206,299
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 609.0

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 0.59)
• Race & ethnicity: White 57% Asian 28% Hispanic / Latino 12% Two or more races 5% Native American 2% Black 2%
• Hispanic origin (detail): Dominican 4%
• Common ancestry: Romanian 4% Russian 3% Lithuanian 1%
• Foreign-born: 32% · Canada, South Korea, China
• Languages at home: 57% English-only · Other Indo-European 12% Chinese 12% Spanish 9%

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: ▲ 4.39%
• Current HPI: 263.9143
• Rent YoY: ▲ 4.12%
• 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

+333.9% since first listed

4 events — show timeline

• 2025-12-30 Listed $525,000 RLS at REBNY
• 2006-07-10 Sold (Public Records) $395,000 Public Records
• 1998-06-30 Sold (Public Records) $133,000 Public Records
• 1991-10-31 Sold (Public Records) $121,000 Public Records