2311 Creston Ave · New York, NY 10468

$1,150,000

6 bd · 3.0 ba · 2,232 sqft · MultiFamily public records · 88 Days on market

Built 1901 2,207 sqft lot Est $792k · 45% over

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Why this score? — see what drove the F 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 +9.4/30.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

Key facts

• Utility access
• Prime bronx location
• Full basement

Tags

• INVESTMENT OPPORTUNITY
• PRIME BRONX LOCATION
• RECENTLY FULLY RENOVATED
• FULL BASEMENT
• UTILITY ACCESS
• TURNKEY INVESTMENT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public sewer; Public water; Public trash collection
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Open floorplan; Storage space; Full basement with storage space

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $-819 ($-10k/yr) — negative. Per door: $-273/mo.
• To cash-flow at today's rent, offer at most $1.01M (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $764k (33.6% below list).
• Recommended offer: $764k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $7,635/mo this rent would consume 198% of the median local household income ($46k/yr) (locally 9659% 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 $14k of equity ($8k loan paydown + $6k appreciation (0.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $440k; list at $1.15M implies a 161% gain — meaningful room to come down on a strong offer.

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 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $763,500 (33.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.66% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $792,360
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2359 Valentine Ave	0.16mi	5/3.0 (-1)	2,280 (+2%)	17mo	$810,000	$355	70
61 W 184th St	0.30mi	5/4.0 (-1)	1,920 (-14%)	13mo	$760,000	$396	43
2642 Decatur Ave	0.70mi	7/2.5 (+1)	2,226 (-0%)	21mo	$730,000	$328	42
1945 Washington Ave	0.74mi	5/2.0 (-1)	2,136 (-4%)	13mo	$875,000	$410	39
2210 Cedar Ave	0.64mi	6/2.0	2,460 (+10%)	15mo	$753,000	$306	36

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

Projected returns pro-forma

0.5% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.91×
• Total profit: $-29,371
• Equity at exit: $363,181

10-year hold

• IRR: 5.5%
• Equity multiple: 1.68×
• Total profit: $218,173
• Equity at exit: $460,649

Cash invested: $322,000 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 37.7×

Monthly cashflow live

• Estimated rent: $7,635 medium
• Mortgage (P&I): −$6,031
• Tax from tax record: −$341 /mo · $4,087/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,603
• Net cashflow: $-819

Break-even live

Break-even rent $8,671

Max offer price $1,005,352

Occupancy floor —

Sensitivity live

Price	-10% $-168	-5% $-493	+0% $-819	+5% $-1,144	+10% $-1,470
Rent	-10% $-1,422	-5% $-1,120	+0% $-819	+5% $-517	+10% $-216
Rate	-1.0pp $-240	-0.5pp $-526	base $-819	+0.5pp $-1,117	+1.0pp $-1,420

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,635
Total (3 units)			$7,635

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $1,150,000 Active 88 DOM
2. 2026-06-18
   days on market $1,150,000 Active 85 DOM
3. 2026-06-17
   days on market $1,150,000 Active 84 DOM
4. 2026-06-15
   days on market $1,150,000 Active 82 DOM
5. 2026-06-13
   days on market $1,150,000 Active 80 DOM
6. 2026-06-10
   days on market $1,150,000 Active 76 DOM
7. 2026-06-08
   days on market $1,150,000 Active 75 DOM
8. 2026-06-08
   days on market $1,150,000 Active 74 DOM
9. 2026-06-04
   days on market $1,150,000 Active 71 DOM
10. 2026-06-03
    days on market $1,150,000 Active 70 DOM
11. 2026-06-01
    days on market $1,150,000 Active 68 DOM
12. 2026-05-31
    days on market $1,150,000 Active 67 DOM
13. 2026-05-09
    status Active
14. 2026-05-09
    price $1,150,000
15. 2026-03-25
    listed $1,175,000 Active
16. 2024-07-19
    historical
17. 2024-06-19
    listed $1,200,000 Active
18. 2022-03-17
    soldstatus $440,000
19. 2018-01-25
    soldstatus $190,000
20. 2014-03-15
    price $175,000 270-char remark

    Show marketing remark (270 chars)

    Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

21. 2010-12-21
    historical 270-char remark

    Show marketing remark (270 chars)

    Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

22. 2010-12-20
    soldstatus $175,000 270-char remark

    Show marketing remark (270 chars)

    Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

23. 2010-10-28
    price $195,000 270-char remark

    Show marketing remark (270 chars)

    Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

24. 2010-09-02
    listed $195,000 270-char remark

    Show marketing remark (270 chars)

    Great value for the savvy landlord. Rent'em up and collect the rents! The heart of the Bronx! Solid brick row-house 3-family! Sold As-Is; All Offers FAXED with pre-approval and/or proof of funds. Purchaser to execute Bank Addendums and pay NYS Transfer Tax ($4/$1,000).

25. 2006-04-24
    soldstatus $360,000
26. 2006-04-04
    soldstatus $450,000

ⓘ 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: $4,087 · $341/mo
• Projected year-2 tax: $11,761 · $980/mo
• Expected delta: +$7,674/yr (+$640/mo · 187.8%)

ⓘ 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 6 d/yr ≥99°F today · 13 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: $91,620
• − Mortgage interest: −$64,418
• − Property taxes: −$4,087
• − Insurance: −$5,750
• − Repairs & maintenance: −$7,330
• − Management: −$7,330
• − Depreciation: −$33,455
• Taxable loss: −$30,749
• Est. tax savings @ 24.0%: +$7,380
• After-tax cash flow: $-2,446/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): 75,557
• Household income: $46,233
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 9659.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Black 17% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 11% Dominican 45%
• Common ancestry: Hispanic 1%
• Foreign-born: 46% · Canada, Vietnam, Jamaica
• Languages at home: 22% English-only · Spanish 69% 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: ▲ 0.50%
• Current HPI: 249.8923
• Rent YoY: ▲ 6.70%
• 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

+155.6% since first listed

14 events — show timeline

• 2026-05-09 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-09 Price Changed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Listed $1,175,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-06-19 Listed $1,200,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-17 Sold (Public Records) $440,000 Public Records
• 2018-01-25 Sold (Public Records) $190,000 Public Records
• 2014-03-15 Price Changed $175,000 HGMLS
• 2010-12-21 Delisted — HGMLS
• 2010-12-20 Sold (MLS) $175,000 HGMLS
• 2010-10-28 Price Changed $195,000 HGMLS
• 2010-09-02 Listed $195,000 HGMLS
• 2006-04-24 Sold (Public Records) $360,000 Public Records
• 2006-04-04 Sold (Public Records) $450,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,087 · +0.0% YoY. Source: county tax records.