430 W 46th St Unit 5E · New York, NY 10036

$429,000

2 bd · 1.0 ba · 686 sqft · Condo · 29 Days on market

↓ 28% since listing

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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 +4.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Prime Location! NYC Apartment located on a quiet block in the heart of Midtown! Affordable 1-bed and 1-bath co-op apartment on the top floor of a prewar building. The master bedroom is full of northern light exposure and can easily accommodate a king-sized bed. The 2nd bedroom is the perfect space for a queen-sized bed, exposed brick, and wood floors. Sunny bright throughout the day, with high ceilings, hardwood floors throughout, and exposed brick walls. Low maintenance fee. The property is a 5-story masonry, co-op building located in the heart of Hell's Kitchen between 9th and 10th Avenue. Built in 1920, this pre-war property consists of 8 residential units and sits on a quiet tree-lined

Key facts

• Prewar building
• Exposed brick
• Quiet block

Tags

• PRIME LOCATION
• QUIET BLOCK
• TOP FLOOR
• PREWAR BUILDING
• NORTHERN LIGHT EXPOSURE
• EXPOSED BRICK

🏢 Co-op / cooperative unit. The $429,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $429k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $429k).
• Recommended offer: $423k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.7% 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 (+4.3%/yr); 181 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $7,995/mo this rent would consume 100% of the median local household income ($96k/yr) (locally 3765% 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 (-2.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 (-2.0% appreciation + 4.3% rent growth), your $120k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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

• 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 $422,565 (1.5% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.86% ✓
• Cap rate: 15.67%
• Cash-on-cash: 33.48%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.0% appreciation · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 2.44×
• Total profit: $172,864
• Equity at exit: $83,426

10-year hold

• IRR: 38.6%
• Equity multiple: 5.05×
• Total profit: $486,474
• Equity at exit: $71,397

Cash invested: $120,120 (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 10036

• Home prices YoY: -0.8%
• Rents YoY: 4.3%
• Active inventory: 181
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $7,995 high
• Mortgage (P&I): −$2,250
• Tax est. 1.5%: −$536 /mo · $6,435/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,679
• Net cashflow: $3,351

Break-even live

Break-even rent $3,753

Max offer price $429,000

Occupancy floor 53%

Sensitivity live

Price	-10% $3,648	-5% $3,500	+0% $3,351	+5% $3,203	+10% $3,055
Rent	-10% $2,720	-5% $3,036	+0% $3,351	+5% $3,667	+10% $3,983
Rate	-1.0pp $3,568	-0.5pp $3,461	base $3,351	+0.5pp $3,240	+1.0pp $3,127

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 W 42nd St #1693 New York, NY	2.0	1.0–2.0	690	$10,010	$14.51	0d	3	0.21mi
520 W 43rd St #742 New York, NY	1.0–2.0	1.0–2.0	769	$7,240	$9.41	8d	2	0.22mi
561 10th Ave #2085 New York, NY	2.0	1.0–2.0	795	$7,740	$9.74	8d	2	0.25mi
754 9th Ave Unit 1017471P New York, NY	1.0	1.0	538	$7,284	$13.54	8d	1	0.27mi
622 11th Ave Unit 1402 New York, NY	2.0	1.0	715	$7,600	$10.63	8d	1	0.28mi
555 10th Ave Unit 1018807P New York, NY	1.0	1.0	688	$9,726	$14.14	23d	1	0.28mi
311 W 50th St #228 New York, NY	2.0	1.0–2.0	669	$7,510	$11.23	8d	3	0.30mi
560 W 43rd St New York, NY	3.0	1.0–2.0	769	$6,743	$8.76	8d	5	0.30mi
235 W 48th St #1400 New York, NY	2.0	1.0–2.0	687	$8,160	$11.87	8d	3	0.31mi
250 W 50th St New York, NY	2.0	1.0–2.0	784	$7,928	$10.11	8d	1	0.33mi
605 W 42nd St Unit 1016142P New York, NY	2.0	1.0–2.0	720	$19,980	$27.73	11d	2	0.36mi
635 W 42nd St #1990 New York, NY	1.0–2.0	1.0–2.0	750	$8,900	$11.87	8d	2	0.40mi
550 W 54th St Unit 1243 New York, NY	1.0–3.0	1.0–2.0	913	$7,220	$7.90	8d	3	0.47mi
254 W 54th St Unit 1026635P New York, NY	1.0–2.0	1.0–2.0	860	$14,490	$16.84	8d	2	0.49mi
500 W 56th St #116 New York, NY	2.0	1.0–2.0	680	$7,480	$10.99	8d	3	0.52mi
360 W 34th St New York, NY	2.0	1.0–1.5	632	$7,260	$11.49	8d	3	0.59mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$8,370	$9.27	8d	2	0.61mi
18 W 48th St Unit 670 New York, NY	1.0	1.0	631	$7,730	$12.25	8d	1	0.71mi
435 W 31st St New York, NY	2.0	1.0–2.0	747	$9,527	$12.75	0d	34	0.71mi
77 W 55th St Unit 15H New York, NY	1.0	1.0	750	$4,900	$6.53	23d	1	0.76mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$29,625	$19.11	8d	9	0.80mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$28,750	$18.55	8d	10	0.80mi
21 W End Ave New York, NY	2.0–3.0	2.0	750	$8,995	$11.99	25d	2	0.83mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,210	$6.57	0d	2	0.86mi
400 W 61st St New York, NY	4.0	1.0–4.0	1567	$24,339	$15.53	0d	50	0.86mi
525 W 28th St New York, NY	2.0	1.0–2.0	1116	$8,705	$7.80	8d	1	0.88mi
243 W 28th St #2143 New York, NY	1.0	1.0	580	$8,960	$15.45	19d	1	0.88mi
244 W 29th St Unit 2149 New York, NY	1.0	1.0	490	$9,720	$19.84	7d	2	0.90mi
400 W 63rd St New York, NY	2.0	1.0–2.0	874	$10,118	$11.58	0d	13	0.92mi
101 W End Ave #950 New York, NY	1.0–2.0	1.0–2.0	814	$12,400	$15.23	0d	2	0.99mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	8d	13	1.05mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$9,570	$10.07	2d	3	1.06mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$8,170	$10.02	8d	3	1.07mi
135 E 47th St New York, NY	1.0	1.0	580	$6,350	$10.94	0d	1	1.08mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	25d	1	1.10mi
123 E 54th St #1251 New York, NY	1.0–2.0	1.0	600	$6,090	$10.15	0d	2	1.10mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	23d	1	1.10mi
535 W 23rd St #1584 New York, NY	2.0	1.0–2.0	600	$10,420	$17.37	0d	3	1.11mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$8,572	$9.76	4d	9	1.13mi
776 6th Ave New York, NY	2.0	1.0–2.0	742	$10,644	$14.34	0d	19	1.14mi

HOA detail condo

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

Listing history 7 events

1. 2025-02-21
   status Pending
2. 2025-01-23
   listed $429,000 Active
3. 2024-10-22
   price $429,000
4. 2024-03-05
   price $449,000
5. 2023-09-18
   price $499,000
6. 2023-07-28
   price $549,000
7. 2020-08-12
   listed $599,000

ⓘ 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,942
• − Mortgage interest: −$24,031
• − Property taxes: −$6,435
• − Insurance: −$2,145
• − Repairs & maintenance: −$7,675
• − Management: −$7,675
• − Depreciation: −$12,480
• Taxable income: $35,501
• Est. tax owed @ 24.0%: −$8,520
• After-tax cash flow: $31,698/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): 31,036
• Household income: $95,638
• Rent vs Own: 89.5% rent · 10.5% own
• Severe rent burden: 3765.0

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: White 51% Hispanic / Latino 19% Asian 15% Two or more races 15% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 5% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 31% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 15% Other Indo-European 6% Chinese 6%

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: ▼ -2.00%
• Current HPI: 250.4308
• Rent YoY: ▲ 4.29%
• 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

-28.4% since first listed

7 events — show timeline

• 2025-02-21 Pending — BNYMLS
• 2025-01-23 Listed $429,000 BNYMLS
• 2024-10-22 Price Changed $429,000 BNYMLS
• 2024-03-05 Price Changed $449,000 BNYMLS
• 2023-09-18 Price Changed $499,000 BNYMLS
• 2023-07-28 Price Changed $549,000 BNYMLS
• 2020-08-12 Listed $599,000 RLS at REBNY