303 E 37th St Unit 1D · New York, NY 10016

$538,000

1 bd · 1.0 ba · 800 sqft · Condo · 93 Days on market

Built 1941

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Why this score? — see what drove the C 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 +18.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

A generously sized 800 sqft one-bedroom apartment in move-in-ready condition. Upon entry, you are welcomed by a versatile, wide foyer leading into a very large living and dining area with high ceilings and two large windows. The well-maintained kitchen features a new dishwasher, and the spacious bedroom offers two exposures along with CitiQuiet windows for added comfort. This apartment checks all the boxes, offering lot of closet space and located in a well-maintained, lovely Art Deco building with a live-in superintendent, laundry in the basement, and a newly renovated lounge conveniently located next to the laundry room.

Key facts

• Built 1941
• Listed 93 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Stock cooperative; One level entry; Located on entry level; Building has 6 stories total
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: 3 rooms total (arrangement details not provided)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air conditioning unit(s)
• Interior features: Entrance foyer; High ceilings; Basement (see remarks)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $538k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $538k (0.1% below list).
• Recommended offer: $490k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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.
• 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 (+5.4%/yr); 497 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 $5,376/mo this rent would consume 46% of the median local household income ($140k/yr) (locally 5269% 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 $18k of equity ($4k loan paydown + $15k appreciation (2.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.7% appreciation + 5.4% rent growth), your $151k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($490k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• 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 $489,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.00% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.7% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.69×
• Total profit: $103,429
• Equity at exit: $232,791

10-year hold

• IRR: 15.6%
• Equity multiple: 3.35×
• Total profit: $353,704
• Equity at exit: $351,826

Cash invested: $150,640 (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 10016

• Home prices YoY: 0.9%
• Rents YoY: 5.4%
• Active inventory: 497
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $5,376 high
• Mortgage (P&I): −$2,821
• Tax est. 1.5%: −$672 /mo · $8,070/yr
• Insurance: −$224
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,129
• Net cashflow: $529

Break-even live

Break-even rent $4,706

Max offer price $538,000

Occupancy floor 85%

Sensitivity live

Price	-10% $901	-5% $715	+0% $529	+5% $343	+10% $157
Rent	-10% $104	-5% $317	+0% $529	+5% $742	+10% $954
Rate	-1.0pp $800	-0.5pp $666	base $529	+0.5pp $390	+1.0pp $248

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: $134,500
• Closing costs: $16,140
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	23d	19	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$4,525	$4.11	5d	20	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,500	$5.00	27d	18	0.09mi
222 E 39th St New York, NY	4.0	1.0–2.0	1100	$5,784	$5.26	12d	19	0.09mi
222 E 39th St New York, NY	1.0–4.0	1.0–2.0	1100	$5,600	$5.09	0d	17	0.09mi
556 3rd Ave New York, NY	1.0	1.0	580	$5,240	$9.03	22d	2	0.17mi
556 3rd Ave New York, NY	1.0	1.0	540	$5,635	$10.44	4d	2	0.17mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	8d	1	0.20mi
399 E 34th St Unit 1025362P New York, NY	1.0	1.0	570	$9,174	$16.09	24d	1	0.22mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	27d	4	0.22mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	1d	49	0.25mi
230 E 32nd St New York, NY	2.0	1.0	800	$5,395	$6.74	18d	2	0.30mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	27d	2	0.31mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	10d	3	0.32mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	10d	3	0.33mi
279 E 44th St #894 New York, NY	1.0	1.0	950	$7,190	$7.57	8d	1	0.33mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	10d	2	0.36mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	4d	3	0.37mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	27d	2	0.41mi
330 E 46th St #1794 New York, NY	1.0	1.0	489	$4,990	$10.19	27d	2	0.41mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	23d	1	0.48mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	24d	1	0.51mi
135 E 47th St New York, NY	1.0	1.0	580	$6,350	$10.94	1d	1	0.53mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	6d	9	0.54mi
250 E 49th St Unit 4A New York, NY	1.0	1.0	802	$6,400	$7.98	27d	1	0.56mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	17d	1	0.56mi
121 Madison Ave New York, NY	2.0–4.0	1.0–2.0	1012	$7,295	$7.20	10d	3	0.56mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	10d	13	0.59mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$5,245	$7.06	0d	34	0.63mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	6d	3	0.65mi
10 E 29th St New York, NY	3.0	1.0–3.0	1041	$8,727	$8.38	0d	4	0.66mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	5d	3	0.66mi
303 Park Ave #2321 New York, NY	1.0	1.5	808	$14,500	$17.95	10d	1	0.68mi
303 Park Ave #2203 New York, NY	1.0	1.5	796	$13,500	$16.96	10d	1	0.68mi
340 E 52nd St #1527 New York, NY	1.0	1.0	575	$7,890	$13.72	1d	2	0.70mi
20 Waterside Plz #978 New York, NY	1.0	1.0	682	$4,760	$6.98	8d	1	0.71mi
940 1st Ave Unit 2040 New York, NY	2.0	1.5	600	$6,810	$11.35	1d	1	0.71mi
241 5th Ave Unit 11A New York, NY	2.0	2.0	991	$8,995	$9.08	27d	1	0.72mi
333 E 52nd St Unit 2177 New York, NY	2.0	1.0	600	$4,900	$8.17	24d	1	0.73mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	27d	1	0.75mi

HOA detail condo

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

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-01-27
   listed $538,000 Active
3. 2026-01-21
   historical $538,000

ⓘ 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: $64,514
• − Mortgage interest: −$30,136
• − Property taxes: −$8,070
• − Insurance: −$2,690
• − Repairs & maintenance: −$5,161
• − Management: −$5,161
• − Depreciation: −$15,651
• Taxable loss: −$2,356
• Est. tax savings @ 24.0%: +$565
• After-tax cash flow: $6,915/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): 52,971
• Household income: $140,381
• Rent vs Own: 74.9% rent · 25.1% own
• Severe rent burden: 5269.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% 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: ▲ 2.70%
• Current HPI: 313.0343
• Rent YoY: ▲ 5.42%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-27 Listed $538,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-21 Coming Soon $538,000 OneKey® MLS as Distributed by MLS Grid