2064 5th Ave · New York, NY 10035

$4,800,000

21 bd · 13.3 ba · 9,221 sqft · MultiFamily public records · 290 Days on market

Built 1910 $5455/mo HOA · 87% of rent

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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 +13.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Residential investment opportunity in a desirable Central Harlem location on Fifth Avenue and 127th Street near several popular restaurants, bars, shops, Morningside and Marcus Garvey Parks and convenient train options. This historic 4-story building offers 9 renovated free-market, 1-4 bed residential units. The building features central air, in-unit laundry and several units with outdoor spaces, a common roof deck and private storage. This sale is also being offered as a bundle in conjunction with two other Harlem residential buildings with free-market units, all with one blanket mortgage that can be assumed with the right buyer. Inquire for the offering memorandum with further details. Pr

Key facts

• Common roof deck
• Private storage
• In-unit laundry

Tags

• CENTRAL HARLEM LOCATION
• OUTDOOR SPACES
• COMMON ROOF DECK
• PRIVATE STORAGE
• CENTRAL AIR
• IN-UNIT LAUNDRY

Property features AI

Finance

• Financial info: Pets not allowed in building
• HOA & community: Association fee approximately $5,455 monthly

Exterior

• Home design: Entry level: 1; 3 stories (building); 4 stories total
• Construction: Lot dimensions approximately 25 x 100
• Exterior features: Private outdoor space (over 60 sqft)

Interior

• Bedrooms: 8 total units (multi-unit property)
• Bathrooms: 13 full bathrooms
• Interior features: High ceilings; Soaking tub; Unfurnished
• Laundry & utility: Laundry details: see remarks

What this means for you Summary

Snapshot

• This is a 7 × 3-bed/1.9-bath units multifamily listed at $4.80M.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive. Per door: $40/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $4.39M (8.5% below list).
• Recommended offer: $4.22M (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 fast (+5.6%/yr); 71 active listings in the ZIP; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $43,943/mo this rent would consume 1169% 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 $188k of equity ($33k loan paydown + $155k 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.
• At projected returns (3.2% appreciation + 5.6% rent growth), your $1.34M cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$305k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 290 days — a 12% lower offer ($4.22M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.
• Current owner paid $956k; list at $4.80M implies a 402% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $4,224,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 290 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.92% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 9.1

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: 9.8%
• Equity multiple: 1.58×
• Total profit: $775,387
• Equity at exit: $2,221,103

10-year hold

• IRR: 13.3%
• Equity multiple: 3.13×
• Total profit: $2,860,616
• Equity at exit: $3,472,641

Cash invested: $1,344,000 (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: 63.7×

Monthly cashflow live

• Estimated rent: $43,943 high
• Mortgage (P&I): −$25,172
• Tax from tax record: −$1,809 /mo · $21,705/yr
• Insurance: −$2,000
• HOA: −$5,455
• Vacancy / Maint / Mgmt: −$9,228
• Net cashflow: $279

Break-even live

Break-even rent $43,589

Max offer price $4,800,000

Occupancy floor 94%

Sensitivity live

Price	-10% $2,997	-5% $1,638	+0% $279	+5% $-1,079	+10% $-2,438
Rent	-10% $-3,192	-5% $-1,456	+0% $279	+5% $2,015	+10% $3,751
Rate	-1.0pp $2,697	-0.5pp $1,500	base $279	+0.5pp $-964	+1.0pp $-2,230

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	3	1.9	$43,946
Total (7 units)			$43,943

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: $1,200,000
• Closing costs: $144,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $5,455 · $65,460/yr

Listing history 13 events

1. 2026-06-18
   days on market $4,800,000 Active 290 DOM
2. 2026-06-17
   days on market $4,800,000 Active 289 DOM
3. 2026-06-15
   days on market $4,800,000 Active 287 DOM
4. 2026-06-13
   days on market $4,800,000 Active 285 DOM
5. 2026-06-10
   days on market $4,800,000 Active 281 DOM
6. 2026-06-08
   days on market $4,800,000 Active 280 DOM
7. 2026-06-03
   days on market $4,800,000 Active 275 DOM
8. 2026-06-01
   days on market $4,800,000 Active 273 DOM
9. 2026-05-31
   days on market $4,800,000 Active 272 DOM
10. 2025-09-01
    listed $4,800,000 Active
11. 2014-01-08
    listed $3,495,000
12. 2013-08-15
    listed $3,495,000
13. 2013-08-13
    soldstatus $956,000

ⓘ 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: $21,705 · $1,809/mo
• Projected year-2 tax: $51,412 · $4,284/mo
• Expected delta: +$29,707/yr (+$2,476/mo · 136.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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: $527,316
• − Mortgage interest: −$268,875
• − Property taxes: −$21,705
• − Insurance: −$24,000
• − Repairs & maintenance: −$42,185
• − Management: −$42,185
• − HOA: −$65,460
• − Depreciation: −$139,636
• Taxable loss: −$76,731
• Est. tax savings @ 24.0%: +$18,415
• After-tax cash flow: $21,769/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

+402.1% since first listed

4 events — show timeline

• 2025-09-01 Listed $4,800,000 RLS at REBNY
• 2014-01-08 Listed $3,495,000 RLS at REBNY
• 2013-08-15 Listed $3,495,000 RLS at REBNY
• 2013-08-13 Sold (Public Records) $956,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $21,705 · +1.8% YoY. Source: county tax records.