794 Fairmount Pl · New York, NY 10460

$975,000

6 bd · None ba · 3,200 sqft · MultiFamily public records · 56 Days on market

Built 1899 1,881 sqft lot Est $976k · at est.

---

Why this score? — see what drove the C+ 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 +21.0/30.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

PRIME 3 FAMILY. FULL GUT RENOVATED TO THE FRAME IN 2016 3 NEW TANKLESS HEATER INSTALLED 2024 NEW WATER MAIN FROM STREET 2016 FULL FINISHED BASEMENT WITH SEPARATE ENTERANCE ALL METERS ARE OUTSIDE WORRY FREE INVESTMENT

Key facts

• Separate entrance
• All meters outside
• New tankless heater

Tags

• FULL GUT RENOVATED
• NEW TANKLESS HEATER
• NEW WATER MAIN
• FULL FINISHED BASEMENT
• SEPARATE ENTRANCE
• ALL METERS OUTSIDE

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity connected
• Home design: Triplex; Updated / remodeled
• Construction: Stucco construction
• Exterior features: Stucco exterior; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit
• Heating & cooling: No central cooling; Heating: separate meters; see remarks for details; other heating
• Interior features: Finished basement; Other interior features (see remarks)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $975k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $918k (5.9% below list).
• Recommended offer: $918k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: 78 active listings in the ZIP; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $9,176/mo this rent would consume 303% of the median local household income ($36k/yr) (locally 7852% 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 $80k of equity ($7k loan paydown + $73k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $273k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$127k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y 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.
• Current owner paid $595k; list at $975k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• 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 $917,600 (5.9% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $976,000
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
798 Elsmere Pl	0.04mi	6/2.0	3,300 (+3%)	9mo	$830,000	$252	85
731 E 181 St	0.43mi	6/4.0	3,002 (-6%)	4mo	$1,127,000	$375	66
2249 Hughes Ave	0.66mi	7/2.0 (+1)	3,300 (+3%)	4mo	$860,000	$261	56
766 E 179 St	0.22mi	6/2.5	2,793 (-13%)	22mo	$850,000	$304	51
818 E 179th St	0.21mi	5/4.0 (-1)	2,725 (-15%)	15mo	$950,000	$349	48
2172 Clinton Ave	0.52mi	6/4.0	3,015 (-6%)	22mo	$972,350	$323	47
704 E 182nd St	0.55mi	7/4.5 (+1)	3,045 (-5%)	18mo	$950,000	$312	46
705 E 183rd St	0.70mi	6/3.0	3,450 (+8%)	15mo	$850,000	$246	42
729 E 182nd St	0.56mi	6/4.0	2,820 (-12%)	24mo	$859,000	$305	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.67×
• Total profit: $455,711
• Equity at exit: $705,467

10-year hold

• IRR: 21.6%
• Equity multiple: 5.60×
• Total profit: $1,256,251
• Equity at exit: $1,367,986

Cash invested: $273,000 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 26.6×

Monthly cashflow live

• Estimated rent: $9,176 medium
• Mortgage (P&I): −$5,113
• Tax from tax record: −$354 /mo · $4,251/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,927
• Net cashflow: $1,376

Break-even live

Break-even rent $7,435

Max offer price $975,000

Occupancy floor 80%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,177
Total (3 units)			$9,176

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $975,000 Active 56 DOM
2. 2026-06-17
   days on market $975,000 Active 55 DOM
3. 2026-06-16
   days on market $975,000 Active 54 DOM
4. 2026-06-15
   days on market $975,000 Active 53 DOM
5. 2026-06-13
   days on market $975,000 Active 51 DOM
6. 2026-06-10
   days on market $975,000 Active 47 DOM
7. 2026-06-08
   days on market $975,000 Active 46 DOM
8. 2026-06-08
   days on market $975,000 Active 45 DOM
9. 2026-06-04
   days on market $975,000 Active 42 DOM
10. 2026-06-03
    days on market $975,000 Active 41 DOM
11. 2026-06-01
    days on market $975,000 Active 39 DOM
12. 2026-05-31
    days on market $975,000 Active 38 DOM
13. 2026-04-23
    listed $975,000 Active
14. 2020-02-04
    historical
15. 2019-12-26
    listed $975,000 Active
16. 2017-05-17
    soldstatus $595,000
17. 2017-05-12
    soldstatus $600,000
18. 2016-07-25
    historical Withdrawn
19. 2016-03-19
    historical
20. 2016-02-11
    historical Pending
21. 2016-01-20
    status Active
22. 2016-01-20
    historical Temporarily off Market
23. 2016-01-08
    price
24. 2015-12-15
    listed Active
25. 2015-12-15
    listed $595,000
26. 2013-10-22
    soldstatus $250,000
27. 2013-10-17
    soldstatus $170,000 Closed
28. 2012-10-10
    historical
29. 2011-09-20
    listed $399,000
30. 1997-03-21
    soldstatus $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $4,251 · $354/mo
• Projected year-2 tax: $10,364 · $864/mo
• Expected delta: +$6,113/yr (+$509/mo · 143.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,112
• − Mortgage interest: −$54,615
• − Property taxes: −$4,251
• − Insurance: −$4,875
• − Repairs & maintenance: −$8,809
• − Management: −$8,809
• − Depreciation: −$28,364
• Taxable income: $389
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $16,413/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: Bronx County · 1,197,324 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

Population outlook (Bronx County) Hauer SSP2

• Today (2025): 1,607,353 people
• By 2030: 1,681,852 · +4.6%
• By 2040: 1,824,421 · +13.5%
• By 2050: 1,945,470 · +21.0%
• By 2075: 2,187,887 · +36.1%
• By 2100: 2,244,136 · +39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Bronx

• 2024 margin: Solid D (+45.4) · D 72.7% · R 27.3%
• 2008→2024 swing: -32.3pp toward R · 2008: 77.8pp · 2024: 45.4pp
• All cycles: 2024: D+45.4 2020: D+67.6 2016: D+79.1 2012: D+82.9 2008: D+77.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.46%
• Current HPI: 224.0425
• Rent YoY: —
• 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

+1118.8% since first listed

18 events — show timeline

• 2026-04-23 Listed $975,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-12-26 Listed $975,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-17 Sold (Public Records) $595,000 Public Records
• 2017-05-12 Sold (Public Records) $600,000 Public Records
• 2016-07-25 Delisted — HGMLS
• 2016-03-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-02-11 Contingent — HGMLS
• 2016-01-20 Relisted — HGMLS
• 2016-01-20 Delisted — HGMLS
• 2016-01-08 Price Changed — HGMLS
• 2015-12-15 Listed — HGMLS
• 2015-12-15 Listed $595,000 OneKey® MLS as Distributed by MLS Grid
• 2013-10-22 Sold (Public Records) $250,000 Public Records
• 2013-10-17 Sold (MLS) $170,000 MLSLI
• 2012-10-10 Delisted — MLSLI
• 2011-09-20 Listed $399,000 MLSLI
• 1997-03-21 Sold (Public Records) $80,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $4,251 · +0.7% YoY. Source: county tax records.