2298 Loring Pl N · New York, NY 10468

$1,100,000

4 bd · 3.0 ba · 2,979 sqft · MultiFamily public records · 363 Days on market

Built 2004 1,927 sqft lot ↓ 21% 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 +9.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Multi-family units

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

Listing remarks

Well-maintained two-family home, perfect for investors or buyers seeking additional rental income. The first-floor unit features a spacious layout with 3 bedrooms and 2 full bathrooms, ideal for larger households or those needing extra space. Upstairs, the second-floor unit offers 2 comfortable bedrooms and 1 full bathroom. Each unit has its own private entrance, providing flexibility and privacy. Located in a convenient neighborhood close to schools, shopping, public transportation, and major highways — this is a must-see property!

Key facts

• Two-family home
• Private entrance
• 1,927 sq ft lot

Tags

• TWO-FAMILY HOME
• PRIVATE ENTRANCE
• CONVENIENT NEIGHBORHOOD

Property features AI

Finance

• HOA & community: Park access (association amenity)

Exterior

• Parking: Attached private parking
• Utilities: Public sewer; Water connected and available; Electricity connected and available; Natural gas connected and available; Cable available; Phone available; Public trash collection
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Near public transit; Near schools; Near shops

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 2-bedroom unit and one 3-bedroom unit (duplex/multi-unit configuration)
• Flooring: Hardwood flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; No central air
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-734 ($-9k/yr) — negative. Per door: $-367/mo.
• To cash-flow at today's rent, offer at most $970k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $771k (29.9% below list).
• Recommended offer: $771k (29.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• 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 $7,708/mo this rent would consume 200% 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 $13k 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 ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 363 days — a 12% lower offer ($968k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $770,800 (29.9% 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 363 days. Have you received any prior offers? Is the seller open to a 30% 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. 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. 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?
10. 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.
11. 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.
12. 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: 0.70% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.86%
• DSCR: 0.87
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.5%
• Equity multiple: 0.92×
• Total profit: $-23,213
• Equity at exit: $347,390

10-year hold

• IRR: 5.9%
• Equity multiple: 1.73×
• Total profit: $224,614
• Equity at exit: $440,621

Cash invested: $308,000 (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: 23.8×

Monthly cashflow live

• Estimated rent: $7,708 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$596 /mo · $7,155/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,619
• Net cashflow: $-734

Break-even live

Break-even rent $8,637

Max offer price $970,367

Occupancy floor —

Sensitivity live

Price	-10% $-111	-5% $-422	+0% $-734	+5% $-1,045	+10% $-1,357
Rent	-10% $-1,343	-5% $-1,038	+0% $-734	+5% $-429	+10% $-125
Rate	-1.0pp $-180	-0.5pp $-454	base $-734	+0.5pp $-1,019	+1.0pp $-1,309

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$7,708
Total (2 units)			$7,708

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-10
   days on market $1,100,000 Active 363 DOM
2. 2026-06-08
   days on market $1,100,000 Active 362 DOM
3. 2026-06-03
   days on market $1,100,000 Active 357 DOM
4. 2026-06-01
   days on market $1,100,000 Active 355 DOM
5. 2026-05-31
   days on market $1,100,000 Active 354 DOM
6. 2025-06-11
   listed $1,100,000 Active
7. 2025-03-30
   historical
8. 2024-03-29
   listed $1,400,000 Active
9. 2024-03-28
   historical

ⓘ 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: $7,155 · $596/mo
• Projected year-2 tax: $12,873 · $1,073/mo
• Expected delta: +$5,717/yr (+$476/mo · 79.9%)

ⓘ 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: $92,496
• − Mortgage interest: −$61,617
• − Property taxes: −$7,155
• − Insurance: −$5,500
• − Repairs & maintenance: −$7,400
• − Management: −$7,400
• − Depreciation: −$32,000
• Taxable loss: −$28,576
• Est. tax savings @ 24.0%: +$6,858
• After-tax cash flow: $-1,948/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

-21.4% since first listed

4 events — show timeline

• 2025-06-11 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-29 Listed $1,400,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-28 Coming Soon — OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $7,155 · +6.0% YoY. Source: county tax records.