523 E 148th St · New York, NY 10455

$1,367,000

9 bd · 8.1 ba · 3,606 sqft · MultiFamily public records · 16 Days on market

Built 2005 1,854 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Fantastic Investment Opportunity in Mott Haven! Snap up this strong income-producing 3-unit property in the heart of vibrant Mott Haven—surrounded by shops, restaurants, and rapid development. This impressive 3,606 sq. ft. Triplex -multifamily offers a flexible mix of spacious 2-3 & 3 bedroom units, 2 bedrooms featuring 2 bathrooms, the 3 bedrooms including an ensuite, and separate utilities for added convenience and reduced owner expenses. A full, walk-out basement provides additional living or storage potential and opens to a large private backyard, perfect for entertaining, relaxing, or creating your own zen retreat. A commuter’s dream, the property is ideally located n

Key facts

• 3 unit property
• Commuters dream
• Walk out basement

Tags

• INVESTMENT OPPORTUNITY
• INCOME PRODUCING PROPERTY
• 3 UNIT PROPERTY
• WALK OUT BASEMENT
• LARGE PRIVATE BACKYARD
• COMMUTERS DREAM

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Off-site parking
• Security: Smoke detectors; Video cameras
• Utilities: Con-Edison electric service; Public sewer; Cable connected; Electricity connected; Public trash collection
• Home design: Townhouse; Triplex
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Private roof; Back yard with fencing

Interior

• Kitchen: Eat-in kitchen; Open kitchen; Pantry
• Bedrooms: One 2-bedroom unit; Two 3-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Six full bathrooms
• Heating & cooling: Baseboard heating
• Interior features: Chandelier; Eat-in kitchen; Open kitchen; Pantry; Primary bathroom
• Laundry & utility: Finished full basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.7-bath units multifamily listed at $1.37M.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.37M).
• Recommended offer: $1.35M (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% 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: 26 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $39k of equity ($9k loan paydown + $29k appreciation (2.1% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $383k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$98k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($1.35M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $649k; list at $1.37M implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $1,346,495 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.15%
• DSCR: 1.81
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $814,956
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
763 Jackson Ave	0.53mi	10/4.0 (+1)	4,113 (+14%)	11mo	$930,000	$226	23

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

Projected returns pro-forma

2.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.22×
• Total profit: $467,352
• Equity at exit: $549,369

10-year hold

• IRR: 24.2%
• Equity multiple: 4.22×
• Total profit: $1,231,747
• Equity at exit: $799,001

Cash invested: $382,760 (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 10455

• Home prices YoY: 1.5%
• Active inventory: 26
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $17,824 medium
• Mortgage (P&I): −$7,169
• Tax from tax record: −$554 /mo · $6,648/yr
• Insurance: −$570
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,743
• Net cashflow: $5,722

Break-even live

Break-even rent $10,581

Max offer price $1,367,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.7	$17,823
Total (3 units)			$17,824

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: $341,750
• Closing costs: $41,010
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $1,367,000 Active 16 DOM
2. 2026-06-17
   days on market $1,367,000 Active 15 DOM
3. 2026-06-16
   days on market $1,367,000 Active 14 DOM
4. 2026-06-15
   days on market $1,367,000 Active 13 DOM
5. 2026-06-13
   days on market $1,367,000 Active 11 DOM
6. 2026-06-09
   days on market $1,367,000 Active 7 DOM
7. 2026-06-08
   days on market $1,367,000 Active 6 DOM
8. 2026-06-08
   days on market $1,367,000 Active 5 DOM
9. 2026-06-04
   days on market $1,367,000 Active 2 DOM
10. 2026-06-02
    remarks 683-char remark
11. 2026-06-02
    listed $1,367,000 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,648 · $554/mo
• Projected year-2 tax: $14,875 · $1,240/mo
• Expected delta: +$8,227/yr (+$686/mo · 123.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $213,888
• − Mortgage interest: −$76,573
• − Property taxes: −$6,648
• − Insurance: −$7,633
• − Repairs & maintenance: −$17,111
• − Management: −$17,111
• − Depreciation: −$39,767
• Taxable income: $49,045
• Est. tax owed @ 24.0%: −$11,771
• After-tax cash flow: $56,896/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
• City population: 7,731,280
• Population (ZIP): 42,940

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Black 24% Two or more races 17% White 1% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 27% Dominican 17%
• Foreign-born: 24% · Canada
• Languages at home: 35% English-only · Spanish 60% French/Haitian/Cajun 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: ▲ 2.14%
• Current HPI: 145.3911
• Rent YoY: —
• Metro: —
• 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

+110.6% since first listed

7 events — show timeline

• 2026-06-02 Listed $1,367,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $1,367,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-21 Listed $1,388,000 OneKey® MLS as Distributed by MLS Grid
• 2006-10-18 Sold (Public Records) $649,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $6,648 · +6.0% YoY. Source: county tax records.