Real Estate Investing in New York, New York (10024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 10024 (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: 18.9% of homes vacant — above national norms.
- Declining values: 0.0% 5-year CAGR — values have moved lower.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 30.8 — hard to cash-flow at these prices.
What’s happening in New York, NY (10024)?
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Market Analysis: 10024 New York
ZIP 10024 in New York, NY carries a significant set of headwinds. Home values near $1.6M and rents of $4,407/mo sit inside a market where underwriting has to be tight.
The 10024 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In the broader NY picture, 10024 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 10024 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 10024 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in New York:
Property Strategy for 10024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $826,121 | $3,990 | 3.5% | +1.4% | $826,121 |
| 2BR | $1,548,429 | $4,370 | 2.0% | +1.5% | $774,214 |
| 3BR | $2,664,560 | $5,470 | 1.5% | +3.6% | $888,187 |
| 4BR | $4,394,306 | $5,950 | 1.0% | +6.1% | $1,098,576 |
| 5BR | $8,372,210 | — | — | +2.3% | $1,674,442 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 10024 Compare?
| Metric | 10024 | New York | New York |
|---|---|---|---|
| Home Value | $1,625,816 | $572,493 | $505,608 |
| 5-Year CAGR | N/A | 1.2% | 6.6% |
| Avg Rent | $4,407 | $3,425 | - |
| Cap Rate | 2.1% | 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 10024 (New York, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,625,816 |
| Monthly Rent | $4,407 |
| Price-to-Rent | 30.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 2.1% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | 0.0% ▼ |
| 10-Year CAGR | -0.4% ▼ |
🏠 Rent Trends
| 1-Year | +2.8% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +7.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.1%). 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 10024
Population: 62,576
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 10024
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
How quickly do rentals get leased in New York, NY?
Rental vacancy in New York, NY is elevated. Investors should budget normal turnover but not chronic empty units.
Does house hacking work in New York, NY?
New York, NY is a a tougher market for house hackers. FHA or conventional owner-occupant buyers find the $1.6M price point reasonable to enter.
What is the typical renter like in New York, NY?
Working renters make up the core of the New York, NY tenant base. The pool is reasonable for investors targeting long-term holds.
What is the typical rental rate in New York, NY?
Rental rates in New York, NY average $4,407/mo. Tenant demand and $1.6M home values make the yield look reasonable by investor standards.
What are home prices like in New York, NY?
New York, NY home values average about $1.6M. That price point suits investors targeting rentals with $4,407/mo in monthly income.
You know 10024 now. You don’t know where it ranks.
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How 10024 ranks in New York-Newark-Jersey City, NY-NJ-PA
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