181 7th Ave Unit 7C · New York, NY 10011

$985,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 140 Days on market

Built 1987 $1315/mo HOA · 17% of rent

---

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).

• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0

Listing remarks

Peaceful and Quiet One-Bedroom with Private Outdoor Space in a Boutique Chelsea Condo Apartment Features: -Open-concept kitchen outfitted with wood cabinetry, abundant prep space, stainless steel appliances, dishwasher, and wine fridge -Well-laid-out and versatile living space -King-size bedroom -Private balcony with peaceful views -Richly toned hardwood floors throughout -Individual HVAC units for cooling and heating Building Features: -24-hour doorman -Elevator -Laundry room -Bike room -Storage lockers -Well-managed condominium with an exceptional staff Close to the 1, C, E, F, M, and PATH trains Some photos are virtually staged for illustrative purposes

Key facts

• Open-concept kitchen
• Private balcony
• Hardwood floors

Tags

• PRIVATE OUTDOOR SPACE
• OPEN-CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY
• HARDWOOD FLOORS
• INDIVIDUAL HVAC UNITS

Property features AI

Finance

• Other: Building features elevators; Zoning: R8A; Total units in building: 47
• HOA & community: Monthly association fee of $1,315; Pets allowed in the building

Exterior

• Home design: Condo in a 15-story building; Entry on level 7; Facing east
• Construction: Building name: The Atrium At Chels
• Exterior features: Private outdoor space under 60 sqft; East exposure; Has a view

Interior

• Kitchen: Dishwasher
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 rooms; Basement (other type)
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $985k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $659k (33.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $751k (23.7% below list).
• Recommended offer: $659k (33.1% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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 (+7.1%/yr); 461 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).
• At $7,515/mo this rent would consume 62% of the median local household income ($146k/yr) (locally 3446% 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 $59k of equity ($7k loan paydown + $53k appreciation (5.3% 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 ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($867k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $658,621 (33.1% 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 140 days. Have you received any prior offers? Is the seller open to a 33% 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: 0.76% ✗
• Cap rate: 4.04%
• Cash-on-cash: -8.04%
• DSCR: 0.64
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.34% appreciation · 7.06% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.59×
• Total profit: $161,488
• Equity at exit: $578,898

10-year hold

• IRR: 11.9%
• Equity multiple: 3.38×
• Total profit: $656,536
• Equity at exit: $1,016,657

Cash invested: $275,800 (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 10011

• Home prices YoY: 2.6%
• Rents YoY: 7.1%
• Active inventory: 461
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $7,515 high
• Mortgage (P&I): −$5,165
• Tax from tax record: −$893 /mo · $10,719/yr
• Insurance: −$410
• HOA: −$1,315
• Vacancy / Maint / Mgmt: −$1,578
• Net cashflow: $-1,848

Break-even live

Break-even rent $9,853

Max offer price $658,621

Occupancy floor —

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: $246,250
• Closing costs: $29,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 W 20th St #1202 New York, NY	2.0	1.0–2.0	791	$9,505	$12.01	2d	3	0.01mi
120 W 21st St New York, NY	2.0	1.0–2.0	676	$7,070	$10.46	4d	14	0.11mi
160 W 24th St New York, NY	2.0	1.0–2.0	731	$7,896	$10.79	1d	12	0.21mi
101 W 15th St New York, NY	1.0	1.0	562	$9,550	$16.98	2d	2	0.24mi
130 W 15th St #1383 New York, NY	1.0–2.0	1.0–2.0	844	$9,200	$10.90	2d	2	0.25mi
108 W 15th St #205 New York, NY	1.0–2.0	1.0	697	$6,050	$8.67	3d	2	0.26mi
776 6th Ave New York, NY	2.0	1.0–2.0	756	$7,743	$10.24	1d	18	0.34mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	24d	1	0.43mi
244 W 29th St Unit 2149 New York, NY	1.0	1.0	490	$9,720	$19.84	6d	2	0.44mi
243 W 28th St #2143 New York, NY	1.0	1.0	580	$8,960	$15.45	18d	1	0.45mi
290 W 12th St #1592 New York, NY	1.0–2.0	1.0–2.0	515	$7,110	$13.81	7d	2	0.50mi
177 Waverly Pl Unit 1075286P New York, NY	1.0	1.0	452	$10,000	$22.12	24d	1	0.58mi
87 Perry St New York, NY	2.0	2.0	748	$18,500	$24.73	24d	1	0.61mi
535 W 23rd St #1584 New York, NY	2.0	1.0–2.0	625	$8,330	$13.33	3d	3	0.62mi
282 11th Ave New York, NY	2.0	1.0–2.0	960	$7,858	$8.18	1d	1	0.63mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	10d	3	0.65mi
364 6th Ave Unit 1023432P New York, NY	1.0	1.0	441	$9,135	$20.71	22d	1	0.67mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	7d	1	0.68mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	7d	13	0.69mi
535 Hudson St #1032 New York, NY	1.0–2.0	1.0	550	$6,030	$10.96	7d	2	0.71mi
435 W 31st St New York, NY	1.0	1.0	633	$13,963	$22.04	6d	27	0.71mi
290 3rd Ave #279 New York, NY	1.0	1.0	607	$9,740	$16.03	3d	2	0.74mi
525 W 28th St New York, NY	2.0	1.0–2.0	1116	$6,612	$5.92	7d	1	0.74mi
360 W 34th St New York, NY	2.0	1.0–1.5	632	$6,100	$9.65	7d	3	0.76mi
120 Christopher St #1886 New York, NY	1.0–2.0	1.0	574	$5,680	$9.89	2d	3	0.76mi
52 Barrow St #2123 New York, NY	1.0–2.0	1.0	547	$6,420	$11.73	10d	3	0.80mi
140 Charles St Unit 14A New York, NY	1.0	1.0	648	$8,000	$12.35	7d	1	0.80mi
139 Christopher St Unit 1021914P New York, NY	1.0–2.0	1.0	667	$5,340	$8.01	7d	2	0.82mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	2d	1	0.86mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,740	$11.72	2d	2	0.89mi
104 MacDougal St Unit 1056263P New York, NY	2.0	1.0	441	$9,375	$21.26	22d	1	0.90mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	7d	2	0.91mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	3d	2	0.93mi
10 Downing St #131 New York, NY	1.0	1.0	731	$9,050	$12.38	4d	2	0.93mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	7d	3	0.94mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	2d	3	0.95mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	22d	1	0.99mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	7d	3	1.00mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	24d	1	1.06mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	6d	1	1.07mi

HOA detail condo

• Monthly dues: $1,315 · $15,780/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $985,000 Active 140 DOM
2. 2026-06-17
   days on market $985,000 Active 139 DOM
3. 2026-06-15
   days on market $985,000 Active 137 DOM
4. 2026-06-13
   days on market $985,000 Active 135 DOM
5. 2026-06-10
   days on market $985,000 Active 131 DOM
6. 2026-06-08
   days on market $985,000 Active 130 DOM
7. 2026-06-04
   days on market $985,000 Active 126 DOM
8. 2026-06-03
   days on market $985,000 Active 125 DOM
9. 2026-06-01
   days on market $985,000 Active 123 DOM
10. 2026-05-31
    remarks 671-char remark
11. 2026-05-31
    listed $985,000 Active 122 DOM

ⓘ 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: $10,719 · $893/mo
• Projected year-2 tax: $13,683 · $1,140/mo
• Expected delta: +$2,964/yr (+$247/mo · 27.7%)

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

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: $90,175
• − Mortgage interest: −$55,175
• − Property taxes: −$10,719
• − Insurance: −$4,925
• − Repairs & maintenance: −$7,214
• − Management: −$7,214
• − HOA: −$15,780
• − Depreciation: −$28,655
• Taxable loss: −$39,506
• Est. tax savings @ 24.0%: +$9,482
• After-tax cash flow: $-12,689/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): 48,277
• Household income: $145,987
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 3446.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 13% Asian 10% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Lithuanian 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 8% Other Indo-European 3% Chinese 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: ▲ 5.34%
• Current HPI: 208.6913
• Rent YoY: ▲ 7.06%
• 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

+484.6% since first listed

14 events — show timeline

• 2026-05-27 Relisted — RLS at REBNY
• 2026-05-27 Price Changed $985,000 RLS at REBNY
• 2026-01-07 Listed $995,000 RLS at REBNY
• 2019-10-04 Price Changed $950,000 RLS at REBNY
• 2019-05-03 Sold (Public Records) $950,000 Public Records
• 2019-01-11 Price Changed $999,000 RLS at REBNY
• 2018-11-09 Price Changed $1,100,000 RLS at REBNY
• 2018-07-03 Listed $950,000 RLS at REBNY
• 2018-07-03 Listed $1,150,000 RLS at REBNY
• 2007-05-18 Sold (Public Records) $675,000 Public Records
• 2006-11-28 Listed $699,000 RLS at REBNY
• 2006-11-28 Listed $675,000 RLS at REBNY
• 1998-09-15 Sold (Public Records) $250,000 Public Records
• 1988-12-16 Sold (Public Records) $168,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $10,719 · +4.1% YoY. Source: county tax records.