2460 Adam Clayton Powell Jr Blvd #66 · New York, NY 10030

$449,000

4 bd · 1.0 ba · 950 sqft · Condo · 118 Days on market

Built 1950

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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 +23.7/30.0
• Appreciation +9.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Don't let this great opportunity to own a true 4 bedroom HDFC unit under $500k. Come out and see if this unit is right for you. Let your imagination run free with the endless possibilities to turn this unit into a dream home. Don't delay the unit is priced to sell and a deal is ready to be made. The unit features a nice long gallery hallway, hardwood floors throughout, and a large open kitchen with plenty of cabinet space and plenty of closet spaces. All the bedrooms are a decent size and have a practical layout which gives the opportunity to customize this great space. The building is professionally managed, has an elevator, maintenance crew and live in super. The building also has cameras

Key facts

• Elevator
• Long gallery hallway
• Large open kitchen

Tags

• LONG GALLERY HALLWAY
• HARDWOOD FLOORS
• LARGE OPEN KITCHEN
• PLENTY OF CABINET SPACE
• PLENTY OF CLOSET SPACES
• ELEVATOR

Property features AI

Finance

• HOA & community: Part of 2460 7TH AVENUE HDFC

Exterior

• Parking: No designated parking; No carport
• Utilities: Public sewer; Cable available; Electricity available; Phone available
• Home design: Stock cooperative; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Convection oven; Refrigerator
• Bedrooms: Includes a bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Breakfast bar; Elevator access; High ceilings; Natural woodwork; Open kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath condo listed at $449k.

Deal economics

• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $409k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+8.8%/yr); 72 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $5,004/mo this rent would consume 151% of the median local household income ($40k/yr) (locally 4110% 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 $39k of equity ($3k loan paydown + $36k appreciation (8.1% 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 (8.1% appreciation + 8.0% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $408,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.11% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.05% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 3.12×
• Total profit: $266,994
• Equity at exit: $342,538

10-year hold

• IRR: 27.6%
• Equity multiple: 7.37×
• Total profit: $801,274
• Equity at exit: $681,293

Cash invested: $125,720 (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 10030

• Home prices YoY: 2.3%
• Rents YoY: 8.8%
• Active inventory: 72
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $5,004 high
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,051
• Net cashflow: $851

Break-even live

Break-even rent $3,928

Max offer price $449,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,161	-5% $1,006	+0% $851	+5% $695	+10% $540
Rent	-10% $455	-5% $653	+0% $851	+5% $1,048	+10% $1,246
Rate	-1.0pp $1,077	-0.5pp $965	base $851	+0.5pp $734	+1.0pp $616

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	5d	1	0.50mi
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,997	$5.83	12d	23	0.96mi
2071 Adam Clayton Powell Junior Blvd Unit 2 New York, NY	4.0	2.0	1000	$5,995	$6.00	19d	1	1.01mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$7,411	$7.33	2d	183	1.06mi
508 Manhattan Ave Unit 2C New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.15mi
312 W 121st St Unit 4C New York, NY	3.0	2.0	900	$4,854	$5.39	8d	1	1.15mi
506 Manhattan Ave Unit 1A New York, NY	3.0	1.0	800	$4,699	$5.87	12d	1	1.17mi
312 W 121st St Unit 5-A New York, NY	3.0	1.0	800	$4,655	$5.82	12d	1	1.17mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $449,000 Active 118 DOM
2. 2026-06-17
   days on market $449,000 Active 117 DOM
3. 2026-06-15
   days on market $449,000 Active 115 DOM
4. 2026-06-13
   days on market $449,000 Active 113 DOM
5. 2026-06-10
   days on market $449,000 Active 109 DOM
6. 2026-06-08
   days on market $449,000 Active 108 DOM
7. 2026-06-08
   days on market $449,000 Active 107 DOM
8. 2026-06-04
   days on market $449,000 Active 104 DOM
9. 2026-06-03
   days on market $449,000 Active 103 DOM
10. 2026-06-01
    days on market $449,000 Active 101 DOM
11. 2026-05-31
    days on market $449,000 Active 100 DOM
12. 2026-02-19
    listed $449,000 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 · 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: $60,053
• − Mortgage interest: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,804
• − Management: −$4,804
• − Depreciation: −$13,062
• Taxable income: $3,252
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $9,426/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): 29,297
• Household income: $39,802
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 4110.0

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 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6% Dominican 11%
• Common ancestry: Hispanic 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 21% French/Haitian/Cajun 5% 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: ▲ 8.05%
• Current HPI: 354.2971
• Rent YoY: ▲ 8.84%
• 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

1 event — show timeline

• 2026-02-19 Listed $449,000 OneKey® MLS as Distributed by MLS Grid