342 E 50th St Unit 2B · New York, NY 10022

$495,000

1 bd · 1.0 ba · 417 sqft · Condo · 19 Days on market

Built 1920 Good condition $461/mo HOA · 12% of rent

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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 +7.5/10.0
• Cash flow +6.8/30.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• 1% rule +2.9/10.0
• DSCR +1.0/10.0

Listing remarks

FIRST SHOWING Sunday June 7th. Nestled in a charming pre-war condominium building on East 50th Street in the heart of Turtle Bay, this sun-filled junior one-bedroom residence offers the perfect blend of classic character and modern convenience. Compact, cozy, quiet, and bathed in southern light, the home features a modern kitchen and bath, soaring 10-foot ceilings, crown moldings, wall sconces, a decorative fireplace, and a coat closet. Just two flights up from the parlor floor, the freshly painted apartment enjoys three south-facing windows and overlooks serene courtyard gardens below, creating a peaceful and inviting retreat from the city. The thoughtfully designed kitchen is appointed wi

Key facts

• Decorative fireplace
• Courtyard gardens
• Modern kitchen

Tags

• PRE-WAR CONDOMINIUM BUILDING
• MODERN KITCHEN
• DECORATIVE FIREPLACE
• SOUTH-FACING WINDOWS
• COURTYARD GARDENS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Pets: Board approval required; no more than 2 pets per apartment; building indicates no pets allowed in some contexts
• Financial info: 15 total units in the building
• HOA & community: Monthly association fee of $461

Exterior

• Utilities: Has cooling
• Home design: Entry level: 2; 1 story in unit; building has 4 total stories
• Exterior features: South exposure; Has a view

Interior

• Bedrooms: 2 total rooms (includes bedroom count within total rooms)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Interior features: Breakfast bar; Crown molding; High ceilings; Double-pane windows; Unfurnished
• Laundry & utility: Laundry details: See remarks

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $495k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-775 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $383k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $393k (20.5% below list).
• Recommended offer: $383k (22.7% below list) — sets the bar for cash-flow.
• Cap rate 4.4% 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 (+8.7%/yr); 715 active listings in the ZIP; high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($3k loan paydown + $25k appreciation (5.0% 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($488k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $382,870 (22.7% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.97% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.61×
• Total profit: $84,933
• Equity at exit: $279,521

10-year hold

• IRR: 13.0%
• Equity multiple: 3.53×
• Total profit: $350,484
• Equity at exit: $481,600

Cash invested: $138,600 (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 10022

• Home prices YoY: 2.4%
• Rents YoY: 8.7%
• Active inventory: 715
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,933 medium
• Mortgage (P&I): −$2,596
• Tax est. 1.5%: −$619 /mo · $7,425/yr
• Insurance: −$206
• HOA: −$461
• Vacancy / Maint / Mgmt: −$826
• Net cashflow: $-775

Break-even live

Break-even rent $4,914

Max offer price $382,870

Occupancy floor —

Sensitivity live

Price	-10% $-433	-5% $-604	+0% $-775	+5% $-946	+10% $-1,117
Rent	-10% $-1,086	-5% $-930	+0% $-775	+5% $-620	+10% $-464
Rate	-1.0pp $-526	-0.5pp $-649	base $-775	+0.5pp $-903	+1.0pp $-1,034

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $461 · $5,532/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $495,000 Active 19 DOM
2. 2026-06-18
   days on market $495,000 Active 16 DOM
3. 2026-06-17
   days on market $495,000 Active 15 DOM
4. 2026-06-16
   days on market $495,000 Active 14 DOM
5. 2026-06-15
   days on market $495,000 Active 13 DOM
6. 2026-06-13
   days on market $495,000 Active 11 DOM
7. 2026-06-09
   days on market $495,000 Active 7 DOM
8. 2026-06-08
   days on market $495,000 Active 6 DOM
9. 2026-06-08
   days on market $495,000 Active 5 DOM
10. 2026-06-04
    days on market $495,000 Active 2 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $495,000 Active 1 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 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: $47,194
• − Mortgage interest: −$27,728
• − Property taxes: −$7,425
• − Insurance: −$2,475
• − Repairs & maintenance: −$3,776
• − Management: −$3,776
• − HOA: −$5,532
• − Depreciation: −$14,400
• Taxable loss: −$17,917
• Est. tax savings @ 24.0%: +$4,300
• After-tax cash flow: $-4,999/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.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab

This charming pre-war condo offers a blend of classic character and modern convenience, with a good condition and fresh paint. It's a great investment opportunity with potential for further value enhancement.

Value-add opportunities

• Both painting the exterior — enhances curb appeal and value
• Resale upgrading the kitchen appliances — modernizes the kitchen and appeals to buyers
• Both installing new flooring — improves the living space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both painting the exterior — enhances curb appeal and value ↑
• Resale upgrading the kitchen appliances — modernizes the kitchen and appeals to buyers ↑
• Both installing new flooring — improves the living space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 34,049
• Household income: $172,026
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 2256.0

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 White (73%)
• Race & ethnicity: White 73% Asian 12% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 6% Other Indo-European 6% Chinese 3%

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: ▲ 4.97%
• Current HPI: 215.7225
• Rent YoY: ▲ 8.69%
• 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 event — show timeline

• 2026-06-02 Listed $495,000 RLS at REBNY