800 Grand Concourse Unit LEN · New York, NY 10451

$279,000

2 bd · 1.0 ba · 850 sqft · Condo · 6 Days on market

Built 1955 $1534/mo HOA · 37% of rent ↓ 26% since listing

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Why this score? — see what drove the D+ 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 +10.0/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks

Prime Location, Incredible Convenience! Spacious 2-bedroom, 1-bath co-op in the heart of 161st Street, just steps from the courthouse and Yankee Stadium Station. Only 15 minutes to Manhattan with endless transportation options nearby. Features an open kitchen, bright and spacious living area, basement storage, and parking garage. Full-service building with concierge and secure mail room. Surrounded by everything—shopping plazas, movie theater, Starbucks, Chipotle, dining, and entertainment right outside your door. Enjoy city living with comfort, space, and unbeatable convenience!

Key facts

• Parking garage
• Concierge
• Secure mail room

Tags

• OPEN KITCHEN
• BASEMENT STORAGE
• PARKING GARAGE
• FULL-SERVICE BUILDING
• CONCIERGE
• SECURE MAIL ROOM

Property features AI

Finance

• HOA & community: Association with monthly fee of $1,534; Association fee includes common area maintenance, exterior maintenance, grounds care, snow removal, trash, and water

Exterior

• Parking: Parking lot; 1 garage space
• Utilities: Public sewer; Water available; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/Window air conditioning unit(s)
• Interior features: Open floor plan; First-floor bedroom; First-floor full bathroom; No basement; 5 total rooms
• Laundry & utility: Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (8.8% below list).
• Meets the 1% rule at list price ($4k rent vs $279k).
• Recommended offer: $255k (8.8% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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 (+2.6%/yr); 69 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,168/mo this rent would consume 129% of the median local household income ($39k/yr) (locally 6917% 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 $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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

• Watch-outs: HOA is 37% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,535 (8.8% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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: 1.49% ✓
• Cap rate: 5.57%
• Cash-on-cash: -2.60%
• DSCR: 0.88
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.86×
• Total profit: $-10,857
• Equity at exit: $90,441

10-year hold

• IRR: 2.2%
• Equity multiple: 1.26×
• Total profit: $20,369
• Equity at exit: $116,556

Cash invested: $78,120 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,168 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$1,534
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $-169

Break-even live

Break-even rent $4,382

Max offer price $254,535

Occupancy floor 99%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$3,948	$4.60	12d	23	1.21mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,134	$5.08	2d	183	1.28mi
132 W 134th St New York, NY	2.0	1.0	750	$4,500	$6.00	25d	1	1.31mi
300 W 135th St Unit 9G New York, NY	3.0	2.0	1032	$5,500	$5.33	5d	1	1.41mi

HOA detail condo

• Monthly dues: $1,534 · $18,408/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $279,000 Active 6 DOM
2. 2026-06-17
   days on market $279,000 Active 5 DOM
3. 2026-06-16
   days on market $279,000 Active 4 DOM
4. 2026-06-15
   days on market $279,000 Active 3 DOM
5. 2026-06-13
   remarks 586-char remark
6. 2026-06-13
   listed $279,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 14% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 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: $50,021
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$4,002
• − Management: −$4,002
• − HOA: −$18,408
• − Depreciation: −$8,116
• Taxable loss: −$5,715
• Est. tax savings @ 24.0%: +$1,372
• After-tax cash flow: $-657/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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

-25.6% since first listed

9 events — show timeline

• 2026-06-12 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-09 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-09-29 Price Changed $320,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-24 Price Changed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-16 Price Changed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-02-27 Listed $375,000 OneKey® MLS as Distributed by MLS Grid