Real Estate Investing in New York, New York (10023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 10023 (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.
- High vacancy: 21.3% of homes vacant — above national norms.
- Declining values: -2.5% 5-year CAGR — values have moved lower.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in New York, NY (10023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 10023 New York
The 10023 ZIP covers a section of New York that demands careful diligence. Prices near $1.5M look accessible, but the work to make a deal cash flow is real.
The 10023 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within NY, ZIP 10023 trails on several market indicators that neighboring New York County submarkets outperform. The gap is real and healthy enough to shape underwriting.
The 10023 ZIP's population of 67,468 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
New investors are better served looking at New York's stable or hybrid ZIPs before stepping into 10023. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in New York:
Property Strategy for 10023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $916,097 | $3,990 | 3.1% | +0.8% | $916,097 |
| 2BR | $1,808,792 | $4,370 | 1.7% | +0.7% | $904,396 |
| 3BR | $3,355,499 | $5,470 | 1.2% | +2.1% | $1,118,500 |
| 4BR | $5,253,004 | $5,950 | 0.8% | +2.9% | $1,313,251 |
| 5BR | $8,335,566 | — | — | — | $1,667,113 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 10023 Compare?
| Metric | 10023 | New York | New York |
|---|---|---|---|
| Home Value | $1,457,669 | $572,493 | $505,608 |
| 5-Year CAGR | N/A | 1.2% | 6.6% |
| Avg Rent | $5,049 | $3,425 | - |
| Cap Rate | 2.7% | 3.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 10023 (New York, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,457,669 |
| Monthly Rent | $5,049 |
| Price-to-Rent | 24.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 0.2% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | -2.5% ▼ |
| 10-Year CAGR | -0.6% ▼ |
🏠 Rent Trends
| 1-Year | -0.7% ▼ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +6.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 10023
Population: 67,468
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 10023
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
Investor Insight: With 611 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are tenants stable in New York, NY?
New York, NY offers a predictable renter base at the $5,049/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is New York, NY suited for a house hack?
The house hack math a tougher in New York, NY. Owner-occupant buyers benefit from the $5,049/mo rents and $1.5M home values.
How high is vacancy risk in New York, NY?
Rental vacancy in New York, NY is elevated. Investors should budget normal turnover but not chronic empty units.
What are rental rates like in New York, NY?
Investors in New York, NY typically see rents near $5,049/mo per month against $1.5M home values - a solid setup for rental cash flow.
What is the typical home price in New York, NY?
Typical homes in New York, NY go for around $1.5M. The 5-year CAGR of 0.0% consistent price movement.
You know 10023 now. You don’t know where it ranks.
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How 10023 ranks in New York-Newark-Jersey City, NY-NJ-PA
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