201 E 28th St Unit 10L · New York, NY 10016

$625,000

1 bd · 1.0 ba · 704 sqft · Condo public records · 52 Days on market

Built 1964 $1551/mo HOA · 24% 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).

• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Listing remarks

Welcome to The Chesapeake House 10L, this is a spacious and one-bedroom featuring bright west facing views. The home opens into a bright and expansive living and dining area, accented and oversized windows that frame the New York skyline. Just off the entry, a large walk-in closet provides exceptional storage. The renovated kitchen blends style and function with cabinetry, stainless steel refrigerator, dishwasher, gas range and and generous counter space The renovated bathroom offers modern comfort with clean finishes and thoughtful upgrades. The bedroom is king-sized bed offers an abundance of natural light and open city views. The Chesapeake House is a full-service cooperative offering a

Key facts

• Renovated kitchen
• Large walk-in closet
• Oversized windows

Tags

• BRIGHT WEST FACING VIEWS
• OVERSIZED WINDOWS
• LARGE WALK-IN CLOSET
• RENOVATED KITCHEN
• STAINLESS STEEL REFRIGERATOR
• GAS RANGE

Property features AI

Finance

• Other: Pets allowed in building
• Financial info: Move-in fees may include application fee, additional application fee, background check, administration fee, and association deposit
• HOA & community: Monthly association fee of $1,551; Community contains 252 total units

Exterior

• Home design: Condominium or cooperative building (unit in multi-unit property)
• Exterior features: Private outdoor space (under 60 sq ft); West exposure

Interior

• Bedrooms: 4 total rooms (bedroom count not specified separately)
• Bathrooms: 1 full bathroom
• Interior features: Unfurnished
• Laundry & utility: Building basement laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $625k.

Deal economics

• At list price, monthly cash flow is $-747 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $517k (17.3% below list).
• Meets the 1% rule at list price ($6k rent vs $625k).
• Recommended offer: $517k (17.3% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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 (+5.4%/yr); 491 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $6,486/mo this rent would consume 55% of the median local household income ($140k/yr) (locally 5269% 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 $21k of equity ($4k loan paydown + $17k appreciation (2.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($606k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: HOA is 24% of rent.
• 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 $516,980 (17.3% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. 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?
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: 1.04% ✓
• Cap rate: 4.86%
• Cash-on-cash: -5.12%
• DSCR: 0.77
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.7% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.20×
• Total profit: $35,014
• Equity at exit: $270,436

10-year hold

• IRR: 8.5%
• Equity multiple: 2.32×
• Total profit: $231,597
• Equity at exit: $408,720

Cash invested: $175,000 (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 10016

• Home prices YoY: 0.9%
• Rents YoY: 5.4%
• Active inventory: 491
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $6,486 high
• Mortgage (P&I): −$3,278
• Tax est. 1.5%: −$781 /mo · $9,375/yr
• Insurance: −$260
• HOA: −$1,551
• Vacancy / Maint / Mgmt: −$1,362
• Net cashflow: $-747

Break-even live

Break-even rent $7,431

Max offer price $516,980

Occupancy floor —

Sensitivity live

Price	-10% $-315	-5% $-531	+0% $-747	+5% $-962	+10% $-1,178
Rent	-10% $-1,259	-5% $-1,003	+0% $-747	+5% $-490	+10% $-234
Rate	-1.0pp $-432	-0.5pp $-588	base $-747	+0.5pp $-908	+1.0pp $-1,073

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	8d	2	0.16mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	8d	3	0.26mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	7d	1	0.27mi
290 3rd Ave #279 New York, NY	1.0	1.0	607	$9,740	$16.03	4d	2	0.31mi
399 E 34th St Unit 1025362P New York, NY	1.0	1.0	570	$9,174	$16.09	22d	1	0.38mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	2d	1	0.39mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	0d	52	0.41mi
556 3rd Ave Unit 2244 New York, NY	1.0	1.0	500	$5,640	$11.28	0d	1	0.42mi
556 3rd Ave New York, NY	1.0	1.0	580	$5,240	$9.03	20d	2	0.42mi
556 3rd Ave New York, NY	1.0	1.0	540	$5,635	$10.44	2d	2	0.42mi
309 5th Ave New York, NY	1.0	1.0	597	$7,596	$12.72	8d	13	0.43mi
30 Park Ave #1347 New York, NY	2.0	1.0	950	$7,890	$8.31	2d	3	0.43mi
41 Park Ave New York, NY	2.0	1.0–2.0	815	$6,555	$8.04	8d	3	0.45mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$5,335	$7.18	0d	36	0.47mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	25d	4	0.48mi
20 Waterside Plz #978 New York, NY	1.0	1.0	682	$4,760	$6.98	7d	1	0.52mi
43 W 27th St #1055 New York, NY	2.0	1.0	740	$9,940	$13.43	25d	1	0.56mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	22d	1	0.56mi
776 6th Ave New York, NY	2.0	1.0–2.0	742	$7,700	$10.37	0d	20	0.62mi
1 Union Sq S #1174 New York, NY	2.0	1.0–2.0	775	$10,120	$13.06	11d	3	0.76mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	25d	2	0.76mi
120 W 21st St New York, NY	2.0	1.0–2.0	676	$7,070	$10.46	5d	14	0.78mi
160 W 24th St New York, NY	2.0	1.0–2.0	731	$7,896	$10.79	0d	13	0.80mi
209 1st Ave Unit 1370708P New York, NY	1.0	1.0	602	$12,000	$19.93	25d	1	0.81mi
815 Broadway #204 New York, NY	1.0	1.0	522	$8,250	$15.80	8d	1	0.86mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	25d	2	0.87mi
330 E 46th St #1794 New York, NY	1.0	1.0	489	$4,990	$10.19	25d	2	0.88mi
180 W 20th St #1202 New York, NY	2.0	1.0–2.0	791	$9,465	$11.96	0d	3	0.88mi
101 E 10th St #1153 New York, NY	1.0–2.0	1.0–2.0	575	$6,630	$11.53	0d	2	0.89mi
101 W 15th St New York, NY	1.0	1.0	562	$9,550	$16.98	2d	2	0.90mi
244 W 29th St Unit 2149 New York, NY	1.0	1.0	490	$9,720	$19.84	7d	2	0.90mi
243 W 28th St #2143 New York, NY	1.0	1.0	580	$8,960	$15.45	19d	1	0.91mi
112 E 10th St Unit 1021937P New York, NY	1.0–3.0	1.0–2.5	1296	$5,772	$4.45	4d	2	0.92mi
135 E 47th St Unit 22F New York, NY	1.0	1.0	700	$7,500	$10.71	22d	1	0.93mi
108 W 15th St #205 New York, NY	1.0–2.0	1.0	697	$6,050	$8.67	4d	2	0.93mi
135 E 47th St New York, NY	1.0	1.0	580	$6,350	$10.94	0d	1	0.94mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	21d	1	0.94mi
130 W 15th St #1383 New York, NY	1.0–2.0	1.0–2.0	844	$8,990	$10.65	0d	2	0.95mi
160 E 48th St New York, NY	3.0	1.0–2.0	878	$6,993	$7.96	4d	9	0.97mi
70 W 45th St #1131 New York, NY	1.0–2.0	1.0–2.0	902	$5,990	$6.64	8d	2	1.00mi

HOA detail condo

• Monthly dues: $1,551 · $18,612/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $625,000 Active 52 DOM
2. 2026-06-17
   days on market $625,000 Active 51 DOM
3. 2026-06-16
   days on market $625,000 Active 50 DOM
4. 2026-06-15
   days on market $625,000 Active 49 DOM
5. 2026-06-13
   days on market $625,000 Active 47 DOM
6. 2026-06-10
   days on market $625,000 Active 43 DOM
7. 2026-06-08
   days on market $625,000 Active 42 DOM
8. 2026-06-08
   days on market $625,000 Active 41 DOM
9. 2026-06-04
   days on market $625,000 Active 38 DOM
10. 2026-06-03
    days on market $625,000 Active 37 DOM
11. 2026-06-01
    days on market $625,000 Active 35 DOM
12. 2026-05-31
    days on market $625,000 Active 34 DOM
13. 2026-04-27
    listed $625,000 Active
14. 2024-08-07
    price $580,000
15. 2024-01-13
    listed $595,000 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 7/10 Severe 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,829
• − Mortgage interest: −$35,010
• − Property taxes: −$9,375
• − Insurance: −$3,125
• − Repairs & maintenance: −$6,226
• − Management: −$6,226
• − HOA: −$18,612
• − Depreciation: −$18,182
• Taxable loss: −$18,927
• Est. tax savings @ 24.0%: +$4,543
• After-tax cash flow: $-4,415/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): 52,971
• Household income: $140,381
• Rent vs Own: 74.9% rent · 25.1% own
• Severe rent burden: 5269.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Other Indo-European 6% Chinese 5%

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: ▲ 2.70%
• Current HPI: 313.0343
• Rent YoY: ▲ 5.42%
• 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

+5.0% since first listed

3 events — show timeline

• 2026-04-27 Listed $625,000 RLS at REBNY
• 2024-08-07 Price Changed $580,000 RLS at REBNY
• 2024-01-13 Listed $595,000 RLS at REBNY