1820 Madison Ave Unit 7C · New York, NY 10035

$650,000

2 bd · 1.0 ba · 988 sqft · Condo · 113 Days on market

Built 2012 $1203/mo HOA · 21% of rent ↓ 1% since listing

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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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +6.0/30.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0

Listing remarks

West-Facing 2BR Overlooking Treetops Toward Columbia, Tax-Abated Through 2037 988 SF - $1,203/mo maintenance - Boutique 2012 co-op on Madison Avenue Sun-filled, quiet, and thoughtfully designed, this west-facing two-bedroom offers exceptional space, light, and value in a boutique 2012 co-op along the Madison Avenue corridor in South Harlem. Spanning approximately 988 square feet, the home features a wall of triple-pane windows with open treetop views stretching toward Columbia University’s Morningside campus. Enjoy radiant afternoon light, beautiful sunsets, and a remarkably peaceful interior thanks to superior soundproofing. With a 421a tax abatement in place through 2037, the mont

Key facts

• Rich maple cabinets
• Toto washlet
• $1,203 HOA

Tags

• BRAND-NEW QUARTZ COUNTERTOPS
• GLASS TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES
• RICH MAPLE CABINETS
• SPARKLING WHITE BATHROOM
• TOTO WASHLET

Property features AI

Finance

• Other: Multi-unit building with 28 total units
• HOA & community: Monthly association fee of $1,203

Exterior

• Home design: Located on 7th floor; Building has 7 stories; Lancaster Madison building
• Exterior features: West-facing exposure; Has view

Interior

• Kitchen: Dishwasher
• Bedrooms: 4 total rooms (includes bedrooms and living areas)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall unit cooling
• Interior features: Entrance foyer; Walk-in closet(s); Unfurnished
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $650k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $472k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $565k (13.0% below list).
• Recommended offer: $472k (27.4% 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 (+5.6%/yr); 71 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,652/mo this rent would consume 150% of the median local household income ($45k/yr) (locally 3992% 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 $25k of equity ($4k loan paydown + $21k appreciation (3.2% 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 ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• 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 $472,043 (27.4% 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 113 days. Have you received any prior offers? Is the seller open to a 27% 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: 0.87% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.11%
• DSCR: 0.64
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.23% appreciation · 5.62% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.13×
• Total profit: $24,084
• Equity at exit: $300,774

10-year hold

• IRR: 7.1%
• Equity multiple: 2.16×
• Total profit: $212,012
• Equity at exit: $470,253

Cash invested: $182,000 (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 10035

• Home prices YoY: 1.0%
• Rents YoY: 5.6%
• Active inventory: 71
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $5,652 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$1,203
• Vacancy / Maint / Mgmt: −$1,187
• Net cashflow: $-1,230

Break-even live

Break-even rent $7,209

Max offer price $472,043

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77 E 110th St Unit 1322508P New York, NY	2.0	1.5	990	$6,360	$6.42	24d	1	0.44mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	24d	1	0.62mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	11d	1	0.67mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.68mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	7d	1	0.68mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.69mi
319 E 109th St Unit 1021947P New York, NY	3.0	1.0	818	$7,260	$8.88	5d	1	0.70mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,134	$5.08	1d	183	0.79mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	11d	23	0.80mi
1635 Lexington Ave Unit 6D New York, NY	2.0	2.0	1112	$6,000	$5.40	24d	1	0.80mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	0.84mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$9,000	$11.53	3d	2	0.88mi
122 E 102nd St Unit 1021896P New York, NY	2.0	1.0	742	$5,429	$7.32	16d	1	0.88mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,145	$4.92	1d	1	0.93mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	5d	1	1.01mi
420 Central Park W Unit 6K New York, NY	2.0	2.0	1060	$8,000	$7.55	22d	1	1.04mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	2d	7	1.06mi
1501 Lexington Ave #932 New York, NY	1.0	1.0	583	$5,580	$9.56	3d	2	1.13mi
175 E 96th St Unit 1251683P New York, NY	2.0	1.0	600	$6,380	$10.63	2d	2	1.17mi
215 E 96th St Unit 688 New York, NY	1.0	1.0	717	$7,960	$11.10	3d	1	1.19mi
53-55 E 95th St Unit 4A New York, NY	3.0	2.0	803	$7,495	$9.33	7d	1	1.19mi
215 E 95th St #1293 New York, NY	1.0–2.0	1.0–1.5	740	$6,100	$8.24	1d	2	1.24mi
202 W 102nd St Unit 1053014P New York, NY	2.0	2.0	538	$10,000	$18.59	22d	1	1.30mi
808 Columbus Ave New York, NY	2.0	1.0–2.0	773	$9,876	$12.78	1d	31	1.30mi
308 W 107th St Unit 1239985P New York, NY	1.0	1.0	559	$8,500	$15.21	22d	1	1.30mi
50 W 97th St #1739 New York, NY	2.0	1.0	800	$6,560	$8.20	6d	1	1.31mi
788 Columbus Ave #1323 New York, NY	1.0–3.0	1.0–1.5	900	$6,320	$7.02	24d	2	1.33mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$7,375	$8.67	1d	2	1.34mi
814 Amsterdam Ave #1019 New York, NY	1.0–2.0	1.0–2.0	800	$5,270	$6.59	24d	2	1.36mi
345 E 94th St #1470 New York, NY	2.0	1.0–2.0	710	$7,570	$10.65	3d	3	1.36mi
70 W 95th St New York, NY	1.0–4.0	1.0–2.0	1095	$13,166	$12.02	17d	1	1.42mi
160 W 97th St #1101 New York, NY	2.0	1.0	850	$6,050	$7.12	14d	1	1.42mi
118 E 91st St Unit 1022052P New York, NY	3.0	1.0	592	$6,180	$10.44	7d	1	1.42mi
1377 Lexington Ave Unit 5CC New York, NY	2.0	1.0	796	$5,100	$6.41	20d	1	1.44mi

HOA detail condo

• Monthly dues: $1,203 · $14,436/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $650,000 Active 113 DOM
2. 2026-06-17
   days on market $650,000 Active 112 DOM
3. 2026-06-15
   days on market $650,000 Active 110 DOM
4. 2026-06-13
   days on market $650,000 Active 108 DOM
5. 2026-06-10
   days on market $650,000 Active 104 DOM
6. 2026-06-08
   days on market $650,000 Active 103 DOM
7. 2026-06-08
   days on market $650,000 Active 102 DOM
8. 2026-06-04
   days on market $650,000 Active 99 DOM
9. 2026-06-03
   days on market $650,000 Active 98 DOM
10. 2026-06-01
    days on market $650,000 Active 96 DOM
11. 2026-05-31
    days on market $650,000 Active 95 DOM
12. 2026-04-29
    price $650,000
13. 2026-02-22
    listed $700,000 Active
14. 2015-08-21
    listed $659,000

ⓘ 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: $67,826
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,426
• − Management: −$5,426
• − HOA: −$14,436
• − Depreciation: −$18,909
• Taxable loss: −$25,782
• Est. tax savings @ 24.0%: +$6,188
• After-tax cash flow: $-8,570/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): 38,862
• Household income: $45,121
• Rent vs Own: 89.0% rent · 11.0% own
• Severe rent burden: 3992.0

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: Hispanic / Latino 42% Black 35% White 14% Two or more races 13% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 16% Dominican 10%
• Common ancestry: Lithuanian 2% Romanian 1% Scotch-Irish 1%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 34% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 3.23%
• Current HPI: 317.1637
• Rent YoY: ▲ 5.62%
• 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

-1.4% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $650,000 RLS at REBNY
• 2026-02-22 Listed $700,000 RLS at REBNY
• 2015-08-21 Listed $659,000 RLS at REBNY