251 W 131st St · New York, NY 10027

$963,200

15 bd · 9.0 ba · 3,200 sqft · MultiFamily public records · 88 Days on market

Built 1910 1,699 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

Key facts

• 1,699 sq ft lot
• Built 1910
• Listed 88 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected; Phone connected; Sewer connected; Water connected
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating
• Interior features: First-floor bedroom; Finished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $963k.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $963k).
• Recommended offer: $905k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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.
• Market conditions: Rents rising (+2.7%/yr); 177 active listings in the ZIP; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $17,270/mo this rent would consume 348% of the median local household income ($60k/yr) (locally 5635% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.3%/yr); year-one equity from $7k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.3% appreciation + 2.7% rent growth), your $270k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($905k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $104k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $905,408 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.79% ✓
• Cap rate: 15.52%
• Cash-on-cash: 32.94%
• DSCR: 2.47
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.26% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 2.40×
• Total profit: $378,569
• Equity at exit: $220,549

10-year hold

• IRR: 35.6%
• Equity multiple: 4.63×
• Total profit: $978,081
• Equity at exit: $221,554

Cash invested: $269,696 (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 10027

• Home prices YoY: -0.3%
• Rents YoY: 2.7%
• Active inventory: 177
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $17,270 high
• Mortgage (P&I): −$5,051
• Tax from tax record: −$787 /mo · $9,446/yr
• Insurance: −$401
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,627
• Net cashflow: $7,337

Break-even live

Break-even rent $7,982

Max offer price $963,200

Occupancy floor 53%

Sensitivity live

Price	-10% $7,882	-5% $7,610	+0% $7,337	+5% $7,065	+10% $6,792
Rent	-10% $5,973	-5% $6,655	+0% $7,337	+5% $8,019	+10% $8,702
Rate	-1.0pp $7,822	-0.5pp $7,582	base $7,337	+0.5pp $7,088	+1.0pp $6,834

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$17,271
Total (3 units)			$17,270

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: $240,800
• Closing costs: $28,896
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-04-23
   status Pending 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

2. 2026-04-23
   status Pending

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

3. 2026-04-14
   status Pending 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

4. 2026-03-30
   price $963,200 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

5. 2026-03-30
   price $963,200

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

6. 2026-03-30
   status Active 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

7. 2026-03-30
   price $963,200 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

8. 2026-03-25
   status Active 388-char remark

   Show marketing remark (388 chars)

   Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

9. 2026-03-16
   status Active
10. 2026-03-06
    status Pending
11. 2026-03-03
    status Pending 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

12. 2026-03-03
    status Pending 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

13. 2026-02-07
    price $1,013,800 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

14. 2026-02-07
    price $1,013,800

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

15. 2026-02-06
    price $1,013,800 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

16. 2026-01-15
    listed $1,067,100 Active 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

17. 2026-01-15
    listed $1,067,100 Active

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

18. 2026-01-15
    listed $1,067,100 Active 388-char remark

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

19. 2026-01-15
    historical

    Show marketing remark (388 chars)

    Attention all investors . This Triplex is located in Central Harlem Full Brick is 3200 Square feet with 3 Apartments Beautiful Multifamily located in New York's Most Desirable Area .You Do not want to miss this one . Property sits on 1700 Square foot lot with 3200 sq feet of living space . Property is nice income producer , with plenty of potential !!! This one will not last make offer

20. 2026-01-12
    listed $1,067,100 Active
21. 2026-01-08
    historical
22. 2026-01-06
    price $1,067,100
23. 2025-12-01
    price $1,123,200
24. 2025-10-24
    price $1,182,300
25. 2025-09-24
    price $1,244,500
26. 2025-09-01
    price $1,309,900
27. 2025-06-30
    price $1,451,300
28. 2025-06-06
    price $1,527,600
29. 2025-05-07
    price $1,607,900
30. 2025-04-08
    price $1,692,500
31. 2025-03-03
    price $1,781,500
32. 2025-01-31
    price $1,875,200
33. 2025-01-02
    price $1,973,800
34. 2024-12-04
    listed $2,077,600 Active
35. 2007-02-26
    soldstatus $999,990
36. 2002-04-26
    soldstatus $255,200
37. 1998-11-25
    soldstatus $180,000
38. 1993-10-04
    soldstatus $150,000

ⓘ 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: $9,446 · $787/mo
• Projected year-2 tax: $12,862 · $1,072/mo
• Expected delta: +$3,416/yr (+$285/mo · 36.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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: $207,240
• − Mortgage interest: −$53,954
• − Property taxes: −$9,446
• − Insurance: −$5,614
• − Repairs & maintenance: −$16,579
• − Management: −$16,579
• − Depreciation: −$28,020
• Taxable income: $77,048
• Est. tax owed @ 24.0%: −$18,491
• After-tax cash flow: $69,555/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): 63,885
• Household income: $59,587
• Rent vs Own: 82.6% rent · 17.4% own
• Severe rent burden: 5635.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 33% White 27% Hispanic / Latino 24% Asian 10% Two or more races 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 10%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 18% French/Haitian/Cajun 5% Chinese 4%

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: ▼ -1.26%
• Current HPI: 414.8385
• Rent YoY: ▲ 2.71%
• 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

+542.1% since first listed

38 events — show timeline

• 2026-04-23 Pending — SIBORMLS
• 2026-04-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-14 Pending — BNYMLS
• 2026-03-30 Price Changed $963,200 BNYMLS
• 2026-03-30 Price Changed $963,200 OneKey® MLS as Distributed by MLS Grid
• 2026-03-30 Relisted — BNYMLS
• 2026-03-30 Price Changed $963,200 SIBORMLS
• 2026-03-25 Relisted — SIBORMLS
• 2026-03-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Pending — SIBORMLS
• 2026-03-03 Pending — BNYMLS
• 2026-02-07 Price Changed $1,013,800 BNYMLS
• 2026-02-07 Price Changed $1,013,800 OneKey® MLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $1,013,800 SIBORMLS
• 2026-01-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-15 Listed $1,067,100 BNYMLS
• 2026-01-15 Listed $1,067,100 OneKey® MLS as Distributed by MLS Grid
• 2026-01-15 Listed $1,067,100 SIBORMLS
• 2026-01-12 Listed $1,067,100 OneKey® MLS as Distributed by MLS Grid
• 2026-01-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $1,067,100 OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $1,123,200 OneKey® MLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $1,182,300 OneKey® MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $1,244,500 OneKey® MLS as Distributed by MLS Grid
• 2025-09-01 Price Changed $1,309,900 OneKey® MLS as Distributed by MLS Grid
• 2025-06-30 Price Changed $1,451,300 OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Price Changed $1,527,600 OneKey® MLS as Distributed by MLS Grid
• 2025-05-07 Price Changed $1,607,900 OneKey® MLS as Distributed by MLS Grid
• 2025-04-08 Price Changed $1,692,500 OneKey® MLS as Distributed by MLS Grid
• 2025-03-03 Price Changed $1,781,500 OneKey® MLS as Distributed by MLS Grid
• 2025-01-31 Price Changed $1,875,200 OneKey® MLS as Distributed by MLS Grid
• 2025-01-02 Price Changed $1,973,800 OneKey® MLS as Distributed by MLS Grid
• 2024-12-04 Listed $2,077,600 OneKey® MLS as Distributed by MLS Grid
• 2007-02-26 Sold (Public Records) $999,990 Public Records
• 2002-04-26 Sold (Public Records) $255,200 Public Records
• 1998-11-25 Sold (Public Records) $180,000 Public Records
• 1993-10-04 Sold (Public Records) $150,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $9,446 · +0.0% YoY. Source: county tax records.