2068 Valentine Ave · New York, NY 10457

$619,999

6 bd · 3.0 ba · 2,232 sqft · MultiFamily public records · 79 Days on market

Built 1901 2,573 sqft lot Est $913k · 32% under

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Why this score? — see what drove the A- 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Appreciation +7.1/10.0
• Schools +5.0/10.0
• 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: 2 units. confirmed

Listing remarks

2 Family house 3 bedrooms, 1 Full Bathroom, EIK, LV, Dr for each unit. It has Full fihished basement. So many poisibilities. , Additional information: Separate Hotwater Heater:yes

Key facts

• 2,573 sq ft lot
• Built 1901
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $620k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $620k).
• Recommended offer: $583k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 47 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 $7,571/mo this rent would consume 213% of the median local household income ($43k/yr) (locally 8573% 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 $31k of equity ($4k loan paydown + $27k appreciation (4.3% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $174k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($583k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — 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 $582,799 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.22% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.69%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $912,888
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1945 Washington Ave	0.30mi	5/2.0 (-1)	2,136 (-4%)	13mo	$875,000	$410	59
2359 Valentine Ave	0.47mi	5/3.0 (-1)	2,280 (+2%)	17mo	$810,000	$355	56
673 Oakland Pl	0.60mi	5/2.0 (-1)	2,080 (-7%)	8mo	$850,000	$409	45
61 W 184th St	0.71mi	5/4.0 (-1)	1,920 (-14%)	13mo	$760,000	$396	24

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

Projected returns pro-forma

4.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.46×
• Total profit: $253,491
• Equity at exit: $325,142

10-year hold

• IRR: 23.8%
• Equity multiple: 4.81×
• Total profit: $661,737
• Equity at exit: $540,594

Cash invested: $173,600 (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 10457

• Home prices YoY: 2.8%
• Active inventory: 47
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $7,571 medium
• Mortgage (P&I): −$3,251
• Tax from tax record: −$346 /mo · $4,152/yr
• Insurance: −$258
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,590
• Net cashflow: $2,125

Break-even live

Break-even rent $4,881

Max offer price $619,999

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$7,570
Total (2 units)			$7,571

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: $155,000
• Closing costs: $18,600
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2023-08-29
   soldstatus $550,000
2. 2023-06-07
   status Pending
3. 2023-05-25
   price $619,999
4. 2023-03-20
   listed $649,999 Active
5. 2005-05-12
   soldstatus $367,000
6. 2002-09-11
   soldstatus $136,500
7. 2002-09-11
   soldstatus $160,500
8. 2002-08-27
   soldstatus $289,000
9. 1996-05-02
   soldstatus $44,000

ⓘ 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: $4,152 · $346/mo
• Projected year-2 tax: $7,315 · $610/mo
• Expected delta: +$3,163/yr (+$264/mo · 76.2%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $90,852
• − Mortgage interest: −$34,730
• − Property taxes: −$4,152
• − Insurance: −$3,100
• − Repairs & maintenance: −$7,268
• − Management: −$7,268
• − Depreciation: −$18,036
• Taxable income: $16,298
• Est. tax owed @ 24.0%: −$3,912
• After-tax cash flow: $21,594/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): 79,543
• Household income: $42,683
• Rent vs Own: 94.8% rent · 5.2% own
• Severe rent burden: 8573.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 32% Two or more races 19% White 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 39% · Canada, United Kingdom, Jamaica
• Languages at home: 33% English-only · Spanish 54% French/Haitian/Cajun 2% Arabic 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: ▲ 4.30%
• Current HPI: 160.6434
• 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

+1150.0% since first listed

9 events — show timeline

• 2023-08-29 Sold (Public Records) $550,000 Public Records
• 2023-06-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-05-25 Price Changed $619,999 OneKey® MLS as Distributed by MLS Grid
• 2023-03-20 Listed $649,999 OneKey® MLS as Distributed by MLS Grid
• 2005-05-12 Sold (Public Records) $367,000 Public Records
• 2002-09-11 Sold (Public Records) $160,500 Public Records
• 2002-09-11 Sold (Public Records) $136,500 Public Records
• 2002-08-27 Sold (Public Records) $289,000 Public Records
• 1996-05-02 Sold (Public Records) $44,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $4,152 · +1.0% YoY. Source: county tax records.