150 W 51st St Unit 21-21 · New York, NY 10019

$699,000

1 bd · 1.0 ba · 564 sqft · Condo public records · 116 Days on market

Built 1927 $648/mo HOA · 11% 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).

• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks MLS

LOCATION, LOCATION, LOCATIONGreat Inestment Opportunity!Low monthly carrying costs, return on investment, currently rentedRenovated apartment, currently rented by corporate tenant. Sold with furnitureOnsite managment/brokerage for investors

Key facts

• Fitness center
• Unbeatable location
• Open kitchen

Tags

• OPEN KITCHEN
• BREAKFAST BAR
• FULL-SERVICE BUILDING
• DOORMAN
• FITNESS CENTER
• UNBEATABLE LOCATION

Property features AI

Finance

• HOA & community: Condo association with monthly fee of $648.49; HOA covers common area maintenance and hot water

Exterior

• Parking: No carport; No designated parking
• Utilities: Con Edison electric service; Public sewer; Electricity available and connected; Water available and connected
• Home design: Condominium
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Total rooms: 3; Entry level: 21
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Kitchen island; Open kitchen layout; No basement; No attic

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $699k.

Deal economics

• At list price, monthly cash flow is $-602 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $593k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $597k (14.7% below list).
• Recommended offer: $593k (15.2% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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 (+4.2%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $5,966/mo this rent would consume 56% of the median local household income ($129k/yr) (locally 3795% 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 $30k of equity ($5k loan paydown + $25k 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 ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($636k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $39k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• 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 $592,678 (15.2% 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 116 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. 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?
11. 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.
12. 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.
13. 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: 0.85% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.61% appreciation · 4.25% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.39×
• Total profit: $76,593
• Equity at exit: $338,489

10-year hold

• IRR: 9.7%
• Equity multiple: 2.59×
• Total profit: $311,136
• Equity at exit: $541,294

Cash invested: $195,720 (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 10019

• Home prices YoY: 1.5%
• Rents YoY: 4.2%
• Active inventory: 543
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,966 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$710 /mo · $8,518/yr
• Insurance: −$291
• HOA: −$648
• Vacancy / Maint / Mgmt: −$1,253
• Net cashflow: $-602

Break-even live

Break-even rent $6,728

Max offer price $592,678

Occupancy floor —

Sensitivity live

Price	-10% $-206	-5% $-404	+0% $-602	+5% $-800	+10% $-998
Rent	-10% $-1,073	-5% $-838	+0% $-602	+5% $-366	+10% $-131
Rate	-1.0pp $-250	-0.5pp $-424	base $-602	+0.5pp $-783	+1.0pp $-967

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 W 48th St #1400 New York, NY	2.0	1.0–2.0	687	$6,270	$9.12	9d	3	0.16mi
250 W 50th St New York, NY	2.0	1.0–2.0	784	$5,866	$7.48	9d	1	0.17mi
254 W 54th St Unit 1026635P New York, NY	1.0–2.0	1.0–2.0	860	$8,040	$9.34	9d	2	0.24mi
311 W 50th St #228 New York, NY	2.0	1.0–2.0	669	$6,470	$9.67	9d	3	0.24mi
18 W 48th St Unit 670 New York, NY	1.0	1.0	631	$7,730	$12.25	9d	1	0.30mi
77 W 55th St Unit 15H New York, NY	1.0	1.0	750	$4,900	$6.53	24d	1	0.31mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	9d	2	0.32mi
754 9th Ave Unit 1017471P New York, NY	1.0	1.0	538	$7,284	$13.54	9d	1	0.34mi
15 W 55th St #736 New York, NY	2.0–3.0	1.0–2.0	1250	$8,210	$6.57	1d	2	0.39mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$9,250	$5.97	9d	9	0.44mi
160 Central Park S New York, NY	1.0–3.0	1.0–3.5	1550	$7,500	$4.84	9d	10	0.44mi
500 W 56th St #116 New York, NY	2.0	1.0–2.0	680	$6,190	$9.10	9d	3	0.61mi
123 E 54th St #1251 New York, NY	1.0–2.0	1.0	600	$5,220	$8.70	1d	2	0.63mi
450 W 42nd St #1693 New York, NY	2.0	1.0–2.0	690	$9,040	$13.10	1d	3	0.64mi
550 W 54th St Unit 1243 New York, NY	1.0–3.0	1.0–2.0	913	$6,270	$6.86	9d	3	0.66mi
135 E 47th St New York, NY	1.0	1.0	580	$6,350	$10.94	1d	1	0.68mi
117 E 57th St New York, NY	1.0	1.0	732	$5,975	$8.16	7d	2	0.69mi
520 W 43rd St #742 New York, NY	1.0–2.0	1.0–2.0	769	$5,860	$7.62	9d	2	0.70mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	24d	1	0.70mi
561 10th Ave #2085 New York, NY	2.0	1.0–2.0	795	$6,345	$7.98	9d	2	0.70mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	5d	9	0.72mi
622 11th Ave Unit 1402 New York, NY	2.0	1.0	715	$7,600	$10.63	9d	1	0.72mi
555 10th Ave Unit 1018807P New York, NY	1.0	1.0	688	$9,726	$14.14	24d	1	0.72mi
150 E 57th St New York, NY	5.0	1.0–7.5	2750	$10,504	$3.82	3d	5	0.75mi
560 W 43rd St New York, NY	3.0	1.0–2.0	769	$5,265	$6.84	9d	5	0.77mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	17d	1	0.79mi
605 W 42nd St Unit 1016142P New York, NY	2.0	1.0–2.0	720	$14,542	$20.18	12d	2	0.83mi
235 E 55th St Unit 36B New York, NY	1.0	1.0	650	$4,800	$7.38	26d	1	0.86mi
635 W 42nd St #1990 New York, NY	1.0–2.0	1.0–2.0	750	$5,680	$7.57	9d	2	0.87mi
360 W 34th St New York, NY	2.0	1.0–1.5	632	$6,100	$9.65	9d	3	0.87mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	26d	2	0.88mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	9d	3	0.88mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	3d	3	0.89mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	4d	3	0.89mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	26d	4	0.89mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	22d	1	0.90mi
151 E 62nd St Unit 1021834P New York, NY	1.0	1.0	398	$6,812	$17.12	9d	1	0.90mi
149 E 62nd St Unit 1021871P New York, NY	—	1.0	398	$5,344	$13.43	9d	1	0.90mi
149 E 62nd St Unit 1021838P New York, NY	—	1.0	398	$4,518	$11.35	4d	1	0.90mi
21 W End Ave New York, NY	2.0–3.0	2.0	750	$8,995	$11.99	26d	2	0.91mi

HOA detail condo

• Monthly dues: $648 · $7,776/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $699,000 Active 116 DOM
2. 2026-06-18
   days on market $699,000 Active 113 DOM
3. 2026-06-17
   days on market $699,000 Active 112 DOM
4. 2026-06-15
   days on market $699,000 Active 110 DOM
5. 2026-06-13
   days on market $699,000 Active 108 DOM
6. 2026-06-10
   days on market $699,000 Active 104 DOM
7. 2026-06-08
   days on market $699,000 Active 103 DOM
8. 2026-06-08
   days on market $699,000 Active 102 DOM
9. 2026-06-04
   days on market $699,000 Active 99 DOM
10. 2026-06-03
    days on market $699,000 Active 98 DOM
11. 2026-06-01
    days on market $699,000 Active 96 DOM
12. 2026-05-31
    days on market $699,000 Active 95 DOM
13. 2026-05-07
    price $699,000
14. 2026-02-25
    listed $738,000 Active
15. 2016-07-15
    soldstatus $795,000
16. 2013-09-23
    soldstatus $648,000 240-char remark

    Show marketing remark (240 chars)

    LOCATION, LOCATION, LOCATIONGreat Inestment Opportunity!Low monthly carrying costs, return on investment, currently rentedRenovated apartment, currently rented by corporate tenant. Sold with furnitureOnsite managment/brokerage for investors

17. 2013-08-28
    soldstatus
18. 2013-05-14
    soldstatus $648,000
19. 2013-05-02
    soldstatus
20. 2013-02-24
    listed $795,000
21. 2013-02-21
    listed $660,000 240-char remark

    Show marketing remark (240 chars)

    LOCATION, LOCATION, LOCATIONGreat Inestment Opportunity!Low monthly carrying costs, return on investment, currently rentedRenovated apartment, currently rented by corporate tenant. Sold with furnitureOnsite managment/brokerage for investors

22. 2013-02-21
    listed $648,000

    Show marketing remark (240 chars)

    LOCATION, LOCATION, LOCATIONGreat Inestment Opportunity!Low monthly carrying costs, return on investment, currently rentedRenovated apartment, currently rented by corporate tenant. Sold with furnitureOnsite managment/brokerage for investors

23. 1998-09-29
    soldstatus $195,000
24. 1987-06-18
    soldstatus $182,000

ⓘ 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: $8,518 · $710/mo
• Projected year-2 tax: $10,166 · $847/mo
• Expected delta: +$1,647/yr (+$137/mo · 19.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,588
• − Mortgage interest: −$39,155
• − Property taxes: −$8,518
• − Insurance: −$3,495
• − Repairs & maintenance: −$5,727
• − Management: −$5,727
• − HOA: −$7,776
• − Depreciation: −$20,335
• Taxable loss: −$19,145
• Est. tax savings @ 24.0%: +$4,595
• After-tax cash flow: $-2,628/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): 44,942
• Household income: $128,559
• Rent vs Own: 79.2% rent · 20.8% own
• Severe rent burden: 3795.0

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 0.63)
• Race & ethnicity: White 55% Asian 18% Hispanic / Latino 17% Two or more races 10% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 4%
• Common ancestry: Romanian 4% Lithuanian 4% Scotch-Irish 4%
• Foreign-born: 34% · Canada, China, South Korea
• Languages at home: 66% English-only · Spanish 12% Other Indo-European 6% Chinese 5%

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: ▲ 3.61%
• Current HPI: 245.1226
• Rent YoY: ▲ 4.25%
• 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

+284.1% since first listed

12 events — show timeline

• 2026-05-07 Price Changed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-25 Listed $738,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-15 Sold (Public Records) $795,000 Public Records
• 2013-09-23 Sold (MLS) $648,000 RLS at REBNY
• 2013-08-28 Sold (MLS) — RLS at REBNY
• 2013-05-14 Sold (Public Records) $648,000 Public Records
• 2013-05-02 Sold (MLS) — RLS at REBNY
• 2013-02-24 Listed $795,000 RLS at REBNY
• 2013-02-21 Listed $648,000 RLS at REBNY
• 2013-02-21 Listed $660,000 RLS at REBNY
• 1998-09-29 Sold (Public Records) $195,000 Public Records
• 1987-06-18 Sold (Public Records) $182,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $8,518 · +0.5% YoY. Source: county tax records.