Real Estate Investing in New York, New York (10028)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 10028 (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: 17.2% of homes vacant — above national norms.
- Declining values: -1.1% 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 (10028)?
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Market Analysis: 10028 New York
ZIP 10028 in New York, NY carries a robust set of headwinds. Home values near $1.5M and rents of $4,028/mo sit inside a market where underwriting has to be tight.
In practical terms, the numbers look inviting — $1.5M purchase price, 0.0% nominal cap — the work to hit that pro forma in 10028 is substantial and deserves full respect.
Regionally, 10028 sits on the difficult end of the NY spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
On the rental side, 45,679 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 10028 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in New York:
Property Strategy for 10028
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $727,840 | $3,990 | 3.9% | +0.3% | $727,840 |
| 2BR | $1,536,075 | $4,370 | 2.0% | +1.2% | $768,037 |
| 3BR | $2,677,976 | $5,470 | 1.5% | +1.5% | $892,659 |
| 4BR | $4,837,993 | $5,950 | 0.9% | +3.9% | $1,209,498 |
| 5BR | $8,371,501 | — | — | +9.7% | $1,674,300 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 10028 Compare?
| Metric | 10028 | New York | New York |
|---|---|---|---|
| Home Value | $1,487,953 | $572,493 | $505,608 |
| 5-Year CAGR | N/A | 1.2% | 6.6% |
| Avg Rent | $4,028 | $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 10028 (New York, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,487,953 |
| Monthly Rent | $4,028 |
| Price-to-Rent | 30.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 1.0% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | -1.1% ▼ |
| 10-Year CAGR | +0.6% ▲ |
🏠 Rent Trends
| 1-Year | +6.7% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +8.6% ▲ |
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 10028
Population: 45,679
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 10028
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
DEMOCRACY PREP ENDURANCE CHARTER SCHOOL
EAST HARLEM SCHOLARS ACADEMY CHARTER SCHOOL II
HARLEM PREP CHARTER SCHOOL
HARLEM VILLAGE ACADEMY EAST CHARTER SCHOOL
HARBOR SCIENCE AND ARTS CHARTER SCHOOL
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 much should I expect to pay for a home in New York, NY?
Median home price in New York, NY is near $1.5M, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Is NY a landlord-friendly state?
New York, NY falls under NY landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
Are tenants stable in New York, NY?
Tenant demand in New York, NY is solid. The local workforce $4,028/mo rents across most rental classes.
Is New York, NY a smart market for rental property?
Our data puts New York, NY at 2.0/5 for investability. Home prices of $1.5M and rents around $4,028/mo create a solid backdrop for investor activity.
How much do tenants pay in New York, NY?
Rental rates in New York, NY average $4,028/mo. Tenant demand and $1.5M home values make the yield look reasonable by investor standards.
You know 10028 now. You don’t know where it ranks.
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How 10028 ranks in New York-Newark-Jersey City, NY-NJ-PA
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