4749 Richardson Ave · New York, NY 10470

$560,000

4 bd · 2.5 ba · 1,813 sqft · MultiFamily public records · 82 Days on market

Built 1960 2,200 sqft lot Est $749k · 25% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Wonderful investment opportunity in the Wakefield section of the Bronx. This Duplex needs work and is being sold in "as-is" condition. Conveniently located near the Metro North's Harlem Line and NYC Subway 2 Line for easy commuting into/out of the city. Close to shops and restaurants. Additional Information: ParkingFeatures:1 Car Attached,

Key facts

• As-is condition
• Easy commuting
• Metro north

Tags

• DUPLEX
• AS-IS CONDITION
• METRO NORTH
• NYC SUBWAY
• EASY COMMUTING
• SHOPS AND RESTAURANTS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $560k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $538k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $447k (20.2% below list).
• Recommended offer: $447k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 66 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,471/mo this rent would consume 60% of the median local household income ($90k/yr) (locally 805% 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 $4k of loan paydown is wiped out by about $17k 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 82 days — a 6% lower offer ($526k) 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.
• Current owner paid $100k; list at $560k implies a 460% gain — meaningful room to come down on a strong offer.

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 $447,104 (20.2% 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 82 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.80% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $748,769
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4824 Robertson St	0.11mi	4/—	1,975 (+9%)	2mo	$815,000	$413	79
2028 Pitman Ave	0.68mi	5/3.0 (+1)	1,824 (+1%)	2mo	$770,000	$422	58
4228 Murdock Ave	0.73mi	4/3.5	1,921 (+6%)	10mo	$760,000	$396	43
4331 Wilder Ave	0.62mi	5/2.0 (+1)	1,574 (-13%)	2mo	$803,000	$510	41
132 Glover Ave	0.72mi	4/2.0	1,680 (-7%)	19mo	$603,000	$359	36
2 Abner Pl	0.69mi	3/2.0 (-1)	1,944 (+7%)	18mo	$765,000	$394	34
14 Elm St	0.74mi	5/3.0 (+1)	2,000 (+10%)	10mo	$840,000	$420	33
35 N 10th Ave	0.68mi	5/2.5 (+1)	2,000 (+10%)	19mo	$785,000	$393	30

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-98,785
• Equity at exit: $83,498

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-96,550
• Equity at exit: $48,419

Cash invested: $156,800 (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 10470

• Home prices YoY: -28.6%
• Active inventory: 66
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $4,471 high
• Mortgage (P&I): −$2,937
• Tax from tax record: −$487 /mo · $5,848/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$939
• Net cashflow: $-125

Break-even live

Break-even rent $4,630

Max offer price $537,872

Occupancy floor 98%

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: $140,000
• Closing costs: $16,800
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 Hunts Bridge Rd Yonkers, NY	3.0	1.0	1600	$3,500	$2.19	14d	1	0.52mi
622 S 6th Ave Unit A Mt Vernon, NY	3.0	2.5	2500	$5,000	$2.00	25d	1	1.11mi
89 Thurton Pl Unit 2 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	44d	1	1.16mi
93 Thurton Pl Unit 2 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	44d	1	1.16mi
93 Thurton Pl Unit 1 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	17d	1	1.16mi
70 Elm Ave Unit Right Mt Vernon, NY	3.0	2.5	1800	$4,000	$2.22	5d	1	1.17mi
97 Thurton Pl Unit 2 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	17d	1	1.18mi
97 Thurton Pl Unit 1 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	44d	1	1.18mi
99 Thurton Pl Unit 2 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	44d	1	1.18mi
99 Thurton Pl Unit 1 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	17d	1	1.18mi
101 Thurton Pl Unit 1 Yonkers, NY	3.0	4.0	2500	$6,000	$2.40	44d	1	1.19mi
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	5d	1	1.21mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	5d	1	1.21mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	1.21mi
6 Belden Ave Unit 1 Yonkers, NY	3.0	2.0	1450	$3,500	$2.41	25d	1	1.39mi

Listing history 5 events

1. 2025-10-15
   status Pending
2. 2025-07-23
   listed $560,000 Active
3. 2024-07-30
   status Pending 351-char remark

   Show marketing remark (351 chars)

   Wonderful investment opportunity in the Wakefield section of the Bronx. This Duplex needs work and is being sold in "as-is" condition. Conveniently located near the Metro North's Harlem Line and NYC Subway 2 Line for easy commuting into/out of the city. Close to shops and restaurants. Additional Information: ParkingFeatures:1 Car Attached,

4. 2024-07-09
   listed $575,000 Active 351-char remark

   Show marketing remark (351 chars)

   Wonderful investment opportunity in the Wakefield section of the Bronx. This Duplex needs work and is being sold in "as-is" condition. Conveniently located near the Metro North's Harlem Line and NYC Subway 2 Line for easy commuting into/out of the city. Close to shops and restaurants. Additional Information: ParkingFeatures:1 Car Attached,

5. 1986-05-20
   soldstatus $100,000

ⓘ 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: $5,848 · $487/mo
• Projected year-2 tax: $7,656 · $638/mo
• Expected delta: +$1,808/yr (+$151/mo · 30.9%)

ⓘ 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 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: $53,652
• − Mortgage interest: −$31,369
• − Property taxes: −$5,848
• − Insurance: −$2,800
• − Repairs & maintenance: −$4,292
• − Management: −$4,292
• − Depreciation: −$16,291
• Taxable loss: −$11,240
• Est. tax savings @ 24.0%: +$2,698
• After-tax cash flow: $1,194/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): 16,004
• Household income: $90,046
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 805.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 30% Hispanic / Latino 24% Two or more races 9% Asian 3% Native American 1%
• Hispanic origin (detail): Puerto Rican 9% Dominican 9%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 32% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 17% Other Indo-European 5% French/Haitian/Cajun 2%

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: ▼ -114.64%
• Current HPI: 286.9195
• 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

+460.0% since first listed

5 events — show timeline

• 2025-10-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-23 Listed $560,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-07-09 Listed $575,000 OneKey® MLS as Distributed by MLS Grid
• 1986-05-20 Sold (Public Records) $100,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $5,848 · +6.0% YoY. Source: county tax records.