518 135th St W Unit 5C · New York, NY 10031

$349,000

3 bd · 1.0 ba · 1,020 sqft · Condo · 130 Days on market

Built 1905 $583/mo HOA · 10% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Appreciation +4.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 518 West 135th Street — a pre-war HDFC co-op in Hamilton Heights offering a rare opportunity to own a large home at exceptional value. Please note: This is an HDFC co-op. Income limits apply. Unit 5C is a 3-bedroom, 1-bath residence on the 5th floor of a well-maintained walk-up building with only three units per floor. Upon entering, you are met with a long foyer hallway that leads to the first—and largest—bedroom. This room includes its own closet, and the hallway provides two additional closets for practical storage. Continuing through the approximately 55-foot-long layout, you arrive at the open kitchen equipped with a breakfast bar, dining area, full-size re

Key facts

• Large home
• Long foyer hallway
• Open kitchen

Tags

• LARGE HOME
• LONG FOYER HALLWAY
• OPEN KITCHEN
• BREAKFAST BAR
• FULL-SIZE REFRIGERATOR
• NORTHERN-FACING VIEWS

Property features AI

Finance

• HOA & community: Has association; Monthly association fee of $583.44; Association fee includes heat, hot water, trash and water

Exterior

• Parking: On-street parking
• Utilities: Cable available; Electricity available and connected; No sewer service listed
• Home design: Stock cooperative; 6-story building
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: ENERGY STAR qualified appliances
• Bedrooms: 5 rooms total (includes bedrooms and living areas)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window air conditioning units
• Interior features: Open kitchen; No basement; Allows pets (contact for details)
• Laundry & utility: Laundry located outside unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $349k).
• Recommended offer: $307k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 (+6.7%/yr); 89 active listings in the ZIP; 22 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 $6,085/mo this rent would consume 112% of the median local household income ($65k/yr) (locally 5780% 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 (-2.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-2.1% appreciation + 6.7% rent growth), your $98k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1905 — 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 $307,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1905 — 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. 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. 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: 1.74% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.26%
• DSCR: 1.99
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.06% appreciation · 6.67% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 1.99×
• Total profit: $96,560
• Equity at exit: $66,841

10-year hold

• IRR: 31.2%
• Equity multiple: 4.58×
• Total profit: $350,059
• Equity at exit: $56,229

Cash invested: $97,720 (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 10031

• Home prices YoY: -0.4%
• Rents YoY: 6.7%
• Active inventory: 89
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $6,085 high
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA: −$583
• Vacancy / Maint / Mgmt: −$1,278
• Net cashflow: $1,813

Break-even live

Break-even rent $3,791

Max offer price $349,000

Occupancy floor 65%

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Convent Ave Unit 30 New York, NY	3.0	2.0	1300	$7,500	$5.77	24d	1	0.27mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	5d	1	0.39mi
543 W 122nd St Unit 27C New York, NY	2.0	2.0	1313	$10,995	$8.37	10d	1	0.60mi
543 W 122nd St New York, NY	2.0	1.0–2.0	1057	$10,995	$10.40	2d	7	0.60mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	24d	1	0.65mi
230 W 126th St Unit 20C New York, NY	2.0	1.0	860	$4,555	$5.30	24d	1	0.66mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.74mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	7d	1	0.75mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	11d	1	0.75mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	11d	1	0.77mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	19d	1	0.82mi
30 Morningside Dr #2096 New York, NY	1.0–2.0	1.0–2.0	780	$9,000	$11.53	3d	2	1.06mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$7,540	$5.84	1d	9	1.11mi
545 W 110th St Unit 6A New York, NY	2.0	2.0	1441	$7,500	$5.20	24d	1	1.20mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$9,980	$6.03	1d	1	1.21mi
61 Malcolm X Blvd New York, NY	2.0	2.0	1300	$4,795	$3.69	24d	1	1.29mi
100 River Mews Ln Edgewater, NJ	3.0	1.0–2.0	988	$5,205	$5.27	2d	1	1.31mi
1203 River Rd Unit 6E Edgewater, NJ	2.0	2.0	1200	$3,500	$2.92	24d	1	1.37mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,997	$5.83	11d	23	1.38mi
4 W 108th St Unit 28 New York, NY	4.0	1.0	750	$5,550	$7.40	20d	1	1.38mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,411	$7.33	2d	183	1.47mi
915 W End Ave #1020 New York, NY	1.0–3.0	1.0–2.0	851	$8,540	$10.04	1d	2	1.49mi

HOA detail condo

• Monthly dues: $583 · $6,996/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $349,000 Active 130 DOM
2. 2026-06-17
   days on market $349,000 Active 129 DOM
3. 2026-06-15
   days on market $349,000 Active 127 DOM
4. 2026-06-13
   days on market $349,000 Active 125 DOM
5. 2026-04-17
   status Active
6. 2026-02-10
   status Pending
7. 2025-11-20
   listed $349,000 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: $73,026
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$5,842
• − Management: −$5,842
• − HOA: −$6,996
• − Depreciation: −$10,153
• Taxable income: $17,663
• Est. tax owed @ 24.0%: −$4,239
• After-tax cash flow: $17,513/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): 61,058
• Household income: $65,283
• Rent vs Own: 85.9% rent · 14.1% own
• Severe rent burden: 5780.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 49% Black 25% Two or more races 21% White 18% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Dominican 32%
• Common ancestry: Italian 2% Hispanic 1% Romanian 1%
• Foreign-born: 38% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 43% French/Haitian/Cajun 3% Other Asian/Pacific 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: ▼ -2.06%
• Current HPI: 468.3156
• Rent YoY: ▲ 6.67%
• 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

3 events — show timeline

• 2026-04-17 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-20 Listed $349,000 OneKey® MLS as Distributed by MLS Grid