579 West 215 St Unit 2F · New York, NY 10034

$499,000

2 bd · 1.5 ba · 900 sqft · Condo · 165 Days on market

Built 1964 ↓ 3% since listing

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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
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Appreciation +4.6/10.0
• Livability +3.8/5.0
• Cash flow +2.8/30.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Two Bedroom With 1.5 Baths Just Steps From Inwood Park. Roof Deck & More! Welcome to apartment #2F at 579 West 215 Street. Looking for a 2BR with more than 1 bath? This apartment will fit the bill. Offering a rare commodity at an affordable asking price. Freshly painted and ready for you to move right in. This apartment has much to offer. From the entry you walk into the dining foyer. Plenty of space for your dining needs. A very good sized living room with four windows - a comfortable space for relaxing and entertaining. Windowed kitchen has been fully renovated. Featuring stainless steel appliances. Good cabinet and counter space.   Very large primary bedrrom with ensuite hal

Key facts

• Fully renovated
• Roof deck
• Corner room

Tags

• ROOF DECK
• WINDOWED KITCHEN
• FULLY RENOVATED
• STAINLESS STEEL APPLIANCES
• EXCELLENT STORAGE
• CORNER ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $499k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $431k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $377k (24.4% below list).
• Recommended offer: $377k (24.4% below list) — sets the bar for 1% rule.

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 (+9.9%/yr); 32 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,775/mo this rent would consume 67% of the median local household income ($68k/yr) (locally 3612% 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 (-0.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• 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 $377,453 (24.4% 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 165 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — 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: 0.76% ✗
• Cap rate: 2.28%
• Cash-on-cash: -14.33%
• DSCR: 0.36
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.81% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.15×
• Total profit: $-118,888
• Equity at exit: $124,937

10-year hold

• IRR: -6.7%
• Equity multiple: 0.27×
• Total profit: $-101,318
• Equity at exit: $135,054

Cash invested: $139,720 (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 10034

• Home prices YoY: -0.7%
• Rents YoY: 9.9%
• Active inventory: 32
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $3,775 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA est. from 2 same-building comps: −$1,202
• Vacancy / Maint / Mgmt: −$793
• Net cashflow: $-1,669

Break-even live

Break-even rent $5,887

Max offer price $257,551

Occupancy floor —

Sensitivity live

Price	-10% $-1,324	-5% $-1,496	+0% $-1,669	+5% $-1,841	+10% $-2,013
Rent	-10% $-1,967	-5% $-1,818	+0% $-1,669	+5% $-1,520	+10% $-1,370
Rate	-1.0pp $-1,417	-0.5pp $-1,542	base $-1,669	+0.5pp $-1,798	+1.0pp $-1,929

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	24d	3	0.52mi
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	27d	1	0.61mi

HOA detail condo

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

Listing history 2 events

1. 2026-05-31
   remarks 690-char remark
2. 2026-05-31
   listed $499,000 Pending 165 DOM

ⓘ 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 2/10 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,294
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$3,624
• − Management: −$3,624
• − HOA: −$14,424
• − Depreciation: −$14,516
• Taxable loss: −$28,825
• Est. tax savings @ 24.0%: +$6,918
• After-tax cash flow: $-13,105/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): 37,758
• Household income: $67,754
• Rent vs Own: 88.4% rent · 11.6% own
• Severe rent burden: 3612.0

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 Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 21% White 19% Black 7% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 1% Dominican 50%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 34% English-only · Spanish 60% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -0.81%
• Current HPI: 119.12
• Rent YoY: ▲ 9.92%
• 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

-2.6% since first listed

8 events — show timeline

• 2026-05-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Relisted — RLS at REBNY
• 2026-03-09 Delisted — RLS at REBNY
• 2026-03-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-29 Price Changed $499,000 RLS at REBNY
• 2025-10-29 Price Changed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-25 Listed $512,500 OneKey® MLS as Distributed by MLS Grid
• 2025-09-25 Listed $512,500 RLS at REBNY