3601 Pratt Ave · New York, NY 10466

$850,000

6 bd · 5.1 ba · 3,792 sqft · MultiFamily public records · 83 Days on market

Built 1997 3,724 sqft lot Est $1320k · 36% under

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Why this score? — see what drove the B- 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Location doesn't get any better than this!! In the heart of Wakefield, first time to the market, is this legal 3 family, 5 bath semi-attached home. Close to schools, shops, transportation and parks. Please allow 24hr notice for all showings.

Key facts

• 3,724 sq ft lot
• 2 parking spots
• Built 1997

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.7-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $677/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $850k).
• Recommended offer: $799k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 161 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $9,740/mo this rent would consume 177% of the median local household income ($66k/yr) (locally 4791% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• 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 $799,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.15% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $1,319,616
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3941 Laconia Ave	0.74mi	7/5.0 (+1)	3,387 (-11%)	2mo	$1,180,000	$348	40
3917 Wilder Ave	0.45mi	7/3.0 (+1)	4,240 (+12%)	23mo	$800,000	$189	27

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

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-8,398
• Equity at exit: $126,738

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $159,281
• Equity at exit: $73,492

Cash invested: $238,000 (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 10466

• Active inventory: 161
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $9,740 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$852 /mo · $10,230/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,045
• Net cashflow: $2,030

Break-even live

Break-even rent $7,170

Max offer price $850,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.7	$9,741
Total (3 units)			$9,740

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2024-07-09
   status Pending
2. 2024-01-09
   status Pending
3. 2024-01-08
   status Active
4. 2023-01-03
   status Pending
5. 2022-05-02
   status Pending
6. 2022-01-22
   status Pending
7. 2021-01-08
   status Pending
8. 2021-01-07
   historical
9. 2021-01-07
   historical
10. 2021-01-07
    historical
11. 2021-01-07
    historical
12. 2021-01-07
    historical
13. 2020-11-21
    status Active
14. 2020-10-26
    historical
15. 2020-10-18
    listed $850,000 Active

ⓘ 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: $10,230 · $852/mo
• Projected year-2 tax: $12,297 · $1,025/mo
• Expected delta: +$2,068/yr (+$172/mo · 20.2%)

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,880
• − Mortgage interest: −$47,613
• − Property taxes: −$10,230
• − Insurance: −$4,250
• − Repairs & maintenance: −$9,350
• − Management: −$9,350
• − Depreciation: −$24,727
• Taxable income: $11,359
• Est. tax owed @ 24.0%: −$2,726
• After-tax cash flow: $21,639/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): 71,116
• Household income: $65,969
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 4791.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 7% White 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 12%
• Common ancestry: Hispanic 1%
• Foreign-born: 42% · Canada, Jamaica, United Kingdom
• Languages at home: 67% English-only · Spanish 22% French/Haitian/Cajun 1% 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: ▼ -314.77%
• Current HPI: 349.542
• 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

15 events — show timeline

• 2024-07-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-01-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-01-08 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-01-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-05-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-01-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-01-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-11-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2020-10-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-10-18 Listed $850,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+21.9%/yr

Latest (2025): $10,230 · +0.2% YoY. Source: county tax records.