Real Estate Investing in New York, New York (10002)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 10002 (New York, NY)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Declining values: -3.1% 5-year CAGR — values have moved lower.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 23.4% poverty rate — can affect rent collection.
What’s happening in New York, NY (10002)?
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Market Analysis: 10002 New York
ZIP 10002 inside New York County looks affordable on the surface — median value of $1.0M — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 10002 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 10002 among NY's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 10002 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 10002 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in New York:
Property Strategy for 10002
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $730,189 | $2,260 | 2.2% | -0.4% | $730,189 |
| 2BR | $1,021,157 | $2,510 | 1.8% | -0.7% | $510,578 |
| 3BR | $1,571,734 | $3,120 | 1.4% | -1.3% | $523,911 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 10002 Compare?
| Metric | 10002 | New York | New York |
|---|---|---|---|
| Home Value | $1,000,055 | $572,493 | $505,608 |
| 5-Year CAGR | N/A | 1.2% | 6.6% |
| Avg Rent | $4,904 | $3,425 | - |
| Cap Rate | 3.8% | 3.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 10002 (New York, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,000,055 |
| Monthly Rent | $4,904 |
| Price-to-Rent | 17.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 0.7% |
📈 Home Appreciation
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | -1.3% ▼ |
| 5-Year CAGR | -3.1% ▼ |
| 10-Year CAGR | +1.4% ▲ |
🏠 Rent Trends
| 1-Year | +12.1% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 10002
Population: 75,517
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 10002
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How do home values compare in New York, NY?
New York, NY home values average about $1.0M. That price point suits investors targeting rentals with $4,904/mo in monthly income.
Do rentals sit vacant long in New York, NY?
New York, NY sees elevated vacancy, which is reasonable relative to the broader NY rental market.
Are renters plentiful in New York, NY?
The renter base in New York, NY is reasonable for the $4,904/mo price point. Screening well and pricing to market typically yields steady tenants.
What is it like being a landlord in New York, NY?
Rental owners in New York, NY deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
Are rents high in New York, NY?
Investors in New York, NY typically see rents near $4,904/mo per month against $1.0M home values - a solid setup for rental cash flow.
You know 10002 now. You don’t know where it ranks.
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How 10002 ranks in New York-Newark-Jersey City, NY-NJ-PA
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