1010 Sherman Ave Unit 1B · New York, NY 10456

$150,000

1 bd · 1.0 ba · 760 sqft · Condo · 85 Days on market

Built 1958

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Why this score? — see what drove the C- 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).

• 1% rule +10.0/10.0
• Appreciation +9.3/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks

First-floor one-bedroom fixer-upper at 1010 Sherman Ave #1B, priced with improvements in mind and full of potential for a customized build-out. Located in a well-maintained building with a live-in super, proactive board, virtual security system, recently installed solar panels, communal laundry room, parking waitlist, and elevator. Affordable maintenance fees and just 10% down required. Conveniently situated a few blocks from the historic Grand Concourse district and the 4/B/D trains, with easy access to neighborhood amenities, shopping, dining, and everyday essentials.

Key facts

• Garage
• Built 1958
• Listed 84 days

Property features AI

Finance

• HOA & community: Sherman Terrace Cooperative

Exterior

• Parking: Garage available; Parking waitlist
• Security: Building security
• Utilities: Electricity connected (Con Edison); Natural gas connected; Public sewer
• Home design: Stock cooperative; 6 total stories; Entry on level 1
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom on first floor
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Other heating type
• Interior features: First-floor bedroom; First-floor full bath; Elevator; Galley kitchen layout; Aluminum-framed windows; Common basement with walk-out access; Building allows pets (contact association)
• Laundry & utility: Common-area laundry; Basement laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-163 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.0% 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: 52 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 $2,276/mo this rent would consume 78% of the median local household income ($35k/yr) (locally 11195% 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 ($1k loan paydown + $13k appreciation (8.6% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent; built in 1958 — 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 $141,000 (6.0% 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 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. 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: 1.52% ✓
• Cap rate: 4.99%
• Cash-on-cash: -4.66%
• DSCR: 0.79
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.37×
• Total profit: $57,350
• Equity at exit: $119,634

10-year hold

• IRR: 17.0%
• Equity multiple: 5.18×
• Total profit: $175,728
• Equity at exit: $243,101

Cash invested: $42,000 (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 10456

• Home prices YoY: 3.0%
• Active inventory: 52
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,276 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA est. from 1 same-building comp: −$924
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-163

Break-even live

Break-even rent $2,482

Max offer price $126,421

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $150,000 Active 85 DOM
2. 2026-06-17
   days on market $150,000 Active 84 DOM
3. 2026-06-15
   days on market $150,000 Active 82 DOM
4. 2026-06-13
   days on market $150,000 Active 80 DOM
5. 2026-06-10
   days on market $150,000 Active 76 DOM
6. 2026-06-08
   days on market $150,000 Active 75 DOM
7. 2026-06-08
   days on market $150,000 Active 74 DOM
8. 2026-06-04
   days on market $150,000 Active 71 DOM
9. 2026-06-03
   days on market $150,000 Active 70 DOM
10. 2026-06-01
    days on market $150,000 Active 68 DOM
11. 2026-05-31
    days on market $150,000 Active 67 DOM
12. 2026-03-26
    listed $150,000 Active
13. 2026-03-24
    historical $150,000

ⓘ 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 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,306
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$11,088
• − Depreciation: −$4,364
• Taxable loss: −$3,917
• Est. tax savings @ 24.0%: +$940
• After-tax cash flow: $-1,015/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): 87,533
• Household income: $34,954
• Rent vs Own: 93.1% rent · 6.9% own
• Severe rent burden: 11195.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 52% Black 41% Two or more races 14% White 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Dominican 26%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 44% French/Haitian/Cajun 3% 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: ▲ 8.55%
• Current HPI: 293.766
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-26 Listed $150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-24 Coming Soon $150,000 OneKey® MLS as Distributed by MLS Grid