86 Canal St · New York, NY 10002

$1,188,000

None bd · None ba · 58,291 sqft · Condo public records · 38 Days on market

Built 2012

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Why this score? — see what drove the F 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 +6.8/10.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +1.5/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

FOR SALE BY OWNER & acirc; & euro; & ldquo; Rare Corner 2BR Condo with Two Private Balconies in Manhattan Chinatown 86 Canal Street #7D: Prime Canal Street location near Forsyth St, Eldridge St, and Roosevelt Park. A rare opportunity to own a bright and desirable corner residence in a modern Manhattan condo building featuring private outdoor space, low monthly carrying costs, and exceptional downtown convenience. Property Highlights: & acirc; & euro; & cent; 2 Bedrooms & acirc; & euro; & cent; 1.5 Baths + bonus upgraded additional bath feature & acirc; & euro; & cent; Total approx. 758 sq ft including private outdoor space & acirc; &

Key facts

• In unit washer dryer
• Built 2012
• Listed 38 days

Tags

• PRIVATE OUTDOOR SPACE
• TWO PRIVATE BALCONIES
• IN UNIT WASHER DRYER
• EXCEPTIONAL DOWNTOWN ACCESS
• CONVENIENT SUBWAY ACCESS
• PRIME CHINATOWN LOCATION

What this means for you Summary

Snapshot

• This is a condo listed at $1.19M.

Deal economics

• At list price, monthly cash flow is $-5k ($-56k/yr) — negative.
• To cash-flow at today's rent, offer at most $516k (56.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $452k (62.0% below list).
• Recommended offer: $452k (62.0% below list) — sets the bar for 1% rule.
• Cap rate 1.6% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+7.5%/yr); 210 active listings in the ZIP; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $4,518/mo this rent would consume 112% of the median local household income ($48k/yr) (locally 7758% 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 $51k of equity ($8k loan paydown + $43k appreciation (3.6% 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 ~$83k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($1.15M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $810k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $451,793 (62.0% 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 38 days. Have you received any prior offers? Is the seller open to a 62% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.38% ✗
• Cap rate: 1.61%
• Cash-on-cash: -16.74%
• DSCR: 0.26
• GRM: 21.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.62% appreciation · 7.55% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.72×
• Total profit: $-91,607
• Equity at exit: $575,834

10-year hold

• IRR: 1.4%
• Equity multiple: 1.24×
• Total profit: $80,522
• Equity at exit: $921,276

Cash invested: $332,640 (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 10002

• Home prices YoY: 1.2%
• Rents YoY: 7.5%
• Active inventory: 210
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $4,518 medium
• Mortgage (P&I): −$6,230
• Tax est. 1.5%: −$1,485 /mo · $17,820/yr
• Insurance: −$495
• HOA: −$0
• Vacancy / Maint / Mgmt: −$949
• Net cashflow: $-4,641

Break-even live

Break-even rent $10,392

Max offer price $516,464

Occupancy floor —

Sensitivity live

Price	-10% $-3,820	-5% $-4,230	+0% $-4,641	+5% $-5,051	+10% $-5,462
Rent	-10% $-4,998	-5% $-4,819	+0% $-4,641	+5% $-4,462	+10% $-4,284
Rate	-1.0pp $-4,043	-0.5pp $-4,339	base $-4,641	+0.5pp $-4,949	+1.0pp $-5,262

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: $297,000
• Closing costs: $35,640
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 18 events

1. 2026-06-21
   days on market $1,188,000 Active 38 DOM
2. 2026-06-18
   days on market $1,188,000 Active 35 DOM
3. 2026-06-17
   days on market $1,188,000 Active 34 DOM
4. 2026-06-15
   days on market $1,188,000 Active 32 DOM
5. 2026-06-13
   days on market $1,188,000 Active 30 DOM
6. 2026-06-10
   days on market $1,188,000 Active 26 DOM
7. 2026-06-08
   days on market $1,188,000 Active 25 DOM
8. 2026-06-03
   days on market $1,188,000 Active 20 DOM
9. 2026-06-01
   days on market $1,188,000 Active 18 DOM
10. 2026-05-31
    days on market $1,188,000 Active 17 DOM
11. 2026-05-14
    listed $1,188,000 Active
12. 2025-09-02
    historical
13. 2025-05-20
    listed $1,080,000 Active
14. 2018-08-09
    soldstatus $810,000
15. 2018-08-01
    soldstatus $457,314
16. 2007-04-02
    soldstatus $20,540,000
17. 2004-09-01
    soldstatus $10,200,000
18. 1979-12-24
    soldstatus $480,000

ⓘ 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 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,215
• − Mortgage interest: −$66,546
• − Property taxes: −$17,820
• − Insurance: −$5,940
• − Repairs & maintenance: −$4,337
• − Management: −$4,337
• − Depreciation: −$34,560
• Taxable loss: −$79,326
• Est. tax savings @ 24.0%: +$19,038
• After-tax cash flow: $-36,652/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): 76,873
• Household income: $48,386
• Rent vs Own: 81.3% rent · 18.7% own
• Severe rent burden: 7758.0

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 0.73)
• Race & ethnicity: Asian 37% White 26% Hispanic / Latino 25% Two or more races 10% Black 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 6%
• Common ancestry: Scotch-Irish 2% Romanian 1% Italian 1%
• Foreign-born: 38% · China, Canada, Vietnam
• Languages at home: 48% English-only · Chinese 29% Spanish 16% Other Indo-European 1%

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: ▲ 3.62%
• Current HPI: 302.3293
• Rent YoY: ▲ 7.55%
• 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

+147.5% since first listed

8 events — show timeline

• 2026-05-14 Listed $1,188,000 FSBO.com
• 2025-09-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-20 Listed $1,080,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-09 Sold (Public Records) $810,000 Public Records
• 2018-08-01 Sold (Public Records) $457,314 Public Records
• 2007-04-02 Sold (Public Records) $20,540,000 Public Records
• 2004-09-01 Sold (Public Records) $10,200,000 Public Records
• 1979-12-24 Sold (Public Records) $480,000 Public Records

Property tax history

+68.3%/yr

Latest (2017): $1,136,622 · +15.4% YoY. Source: county tax records.