409 Edgecombe Ave Unit 7F · New York, NY 10032

$529,000

2 bd · 1.5 ba · 1,275 sqft · Condo · 210 Days on market

Built 1917 ↓ 7% since listing

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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 +13.8/30.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this perfect Spacious sun filled 2 bedroom unit, designed to captivate with its abundant natural light and impressive 9 ft. ceilings. The airy ambiance is enhanced by a generous layout that includes a separate formal dining room, ideal for hosting dinners or creating amazing home office. Original 10" molding, hardwood floors throughout, French doors that leads from the living room to formal dinning room, in sought after Sugar Hill section of Harlem. With 1 1/2 bathroom, the unit offers more comfort. From the living spaces, enjoy stunning views of the City and Jackie Robinson Park offering a vibrant backdrop to you daily life. Laundry room on site and a night doorman, mailbox s

Key facts

• Formal dining room
• Laundry room
• French doors

Tags

• 9 FT CEILINGS
• FORMAL DINING ROOM
• ORIGINAL 10 MOLDING
• HARDWOOD FLOORS
• FRENCH DOORS
• LAUNDRY ROOM

Property features AI

Finance

• HOA & community: Association: ABC MANAGEMENT; Building amenities include elevator(s) and a park; Association fee includes heat, hot water, sewer, and water

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Mailbox; Near public transit; Close to shops; Near schools; Not waterfront

Interior

• Flooring: Hardwood floors
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Oil heating; Radiant heating; No central cooling
• Interior features: Elevator; Entrance foyer; Formal dining room; Common area laundry; Tankless water heater; Hardwood flooring; Cats and dogs allowed
• Laundry & utility: Laundry in common area; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $529k.

Deal economics

• At list price, monthly cash flow is $51 ($609/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 $469k (11.3% below list).
• Recommended offer: $466k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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 (+2.8%/yr); 79 active listings in the ZIP; 5 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 $4,692/mo this rent would consume 99% of the median local household income ($57k/yr) (locally 5464% 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 $44k of equity ($4k loan paydown + $41k appreciation (7.7% 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 (7.7% appreciation + 2.8% rent growth), your $148k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$71k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($466k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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

• Watch-outs: built in 1917 — 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 $465,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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: 0.89% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.66% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.41×
• Total profit: $209,038
• Equity at exit: $389,736

10-year hold

• IRR: 18.2%
• Equity multiple: 5.07×
• Total profit: $602,514
• Equity at exit: $762,304

Cash invested: $148,120 (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 10032

• Home prices YoY: 1.8%
• Rents YoY: 2.8%
• Active inventory: 79
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $4,692 high
• Mortgage (P&I): −$2,774
• Tax est. 1.5%: −$661 /mo · $7,935/yr
• Insurance: −$220
• HOA: −$0
• Vacancy / Maint / Mgmt: −$985
• Net cashflow: $51

Break-even live

Break-even rent $4,628

Max offer price $529,000

Occupancy floor 94%

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: $132,250
• Closing costs: $15,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	4d	1	0.95mi
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	24d	1	1.19mi
2360 Amsterdam Ave Unit 6A New York, NY	3.0	2.0	1175	$4,500	$3.83	24d	1	1.22mi
40 Pinehurst Ave Ph 7B New York, NY	2.0	2.0	1043	$5,200	$4.99	11d	1	1.43mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	11d	23	1.47mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $529,000 Active 210 DOM
2. 2026-06-17
   days on market $529,000 Active 209 DOM
3. 2026-06-15
   days on market $529,000 Active 207 DOM
4. 2026-06-13
   days on market $529,000 Active 205 DOM
5. 2026-06-10
   days on market $529,000 Active 201 DOM
6. 2026-06-08
   days on market $529,000 Active 200 DOM
7. 2026-06-04
   days on market $529,000 Active 196 DOM
8. 2026-06-03
   days on market $529,000 Active 195 DOM
9. 2026-06-01
   days on market $529,000 Active 193 DOM
10. 2026-05-31
    days on market $529,000 Active 192 DOM
11. 2025-11-20
    listed $529,000 Active
12. 2025-05-13
    price $529,000
13. 2025-01-02
    price $545,000
14. 2024-08-15
    listed $499,900 Active
15. 2024-07-09
    historical
16. 2024-07-09
    listed $499,900 Active
17. 2024-07-03
    historical
18. 2023-12-07
    price $545,000
19. 2023-10-07
    listed $570,000 Active

ⓘ 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 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: $56,302
• − Mortgage interest: −$29,632
• − Property taxes: −$7,935
• − Insurance: −$2,645
• − Repairs & maintenance: −$4,504
• − Management: −$4,504
• − Depreciation: −$15,389
• Taxable loss: −$8,307
• Est. tax savings @ 24.0%: +$1,994
• After-tax cash flow: $2,603/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): 55,610
• Household income: $56,829
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 5464.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 14% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 42%
• Common ancestry: Romanian 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 44% · Canada, China
• Languages at home: 38% English-only · Spanish 54% 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: ▲ 7.66%
• Current HPI: 431.3199
• Rent YoY: ▲ 2.84%
• 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

-7.2% since first listed

9 events — show timeline

• 2025-11-20 Listed $529,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-13 Price Changed $529,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-02 Price Changed $545,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-15 Listed $499,900 OneKey® MLS as Distributed by MLS Grid
• 2024-07-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-09 Listed $499,900 OneKey® MLS as Distributed by MLS Grid
• 2024-07-03 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2023-12-07 Price Changed $545,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-07 Listed $570,000 OneKey® MLS as Distributed by MLS Grid