3455 Ely Ave · New York, NY 10469

$890,000

4 bd · 4.0 ba · 3,600 sqft · MultiFamily public records · 24 Days on market

Built 2001 2,375 sqft lot

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Spacious 2 Family semi-detached Brick home for sale. Unit 1 Boasts spacious 2 bedroom, Unit 2 features Living Room, Dining Room, Master Bedroom w/full bath, 2 additional bedrooms duplex, lower level walkout basement wtih access to backyard. Both units have separate heating as well as separate electric/gas meters. Plenty of driveway parking 4 cars. Must be bank approved before showings. Enter the life of home ownership while having extra income coming in from the 1 other units. Call for a private tours. Won't last!

Key facts

• Ample living space
• Two family home
• 2,375 sq ft lot

Tags

• TWO FAMILY HOME
• INCOME PRODUCING APARTMENT
• MULTI GENERATIONAL LIVING
• BRIGHT SUN FILLED ROOMS
• FUNCTIONAL FLOOR PLANS
• AMPLE LIVING SPACE

Property features AI

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Trash collection (public); Water connected
• Home design: Duplex; Total building area approximately 3600
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen; Kitchen island; Quartz/Quartzite counters
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating (natural gas); Wall/window cooling units
• Interior features: Eat-in kitchen; Formal dining room; His and hers closets; Kitchen island; Primary bathroom; Quartz/Quartzite counters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $890k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative. Per door: $-51/mo.
• To cash-flow at today's rent, offer at most $872k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $710k (20.2% below list).
• Recommended offer: $710k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 (+4.3%/yr); 203 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $7,100/mo this rent would consume 112% of the median local household income ($76k/yr) (locally 3706% 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 $6k of loan paydown is wiped out by about $27k 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 24 days — a 2% lower offer ($877k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $725k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $710,000 (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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
8. 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.
9. 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.
10. 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: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.33% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-141,222
• Equity at exit: $132,702

10-year hold

• IRR: -5.3%
• Equity multiple: 0.63×
• Total profit: $-91,375
• Equity at exit: $76,951

Cash invested: $249,200 (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 10469

• Rents YoY: 4.3%
• Active inventory: 203
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $7,100 medium
• Mortgage (P&I): −$4,667
• Tax from tax record: −$672 /mo · $8,069/yr
• Insurance: −$371
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,491
• Net cashflow: $-102

Break-even live

Break-even rent $7,229

Max offer price $872,063

Occupancy floor 96%

Sensitivity live

Price	-10% $402	-5% $150	+0% $-102	+5% $-353	+10% $-605
Rent	-10% $-662	-5% $-382	+0% $-102	+5% $179	+10% $459
Rate	-1.0pp $347	-0.5pp $125	base $-102	+0.5pp $-332	+1.0pp $-567

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,100
Total (2 units)			$7,100

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: $222,500
• Closing costs: $26,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 S 6th Ave Unit A Mt Vernon, NY	3.0	2.5	2500	$5,000	$2.00	26d	1	1.23mi

Listing history 14 events

1. 2026-06-21
   days on market $890,000 Active 24 DOM
2. 2026-06-18
   days on market $890,000 Active 21 DOM
3. 2026-06-17
   days on market $890,000 Active 20 DOM
4. 2026-06-16
   days on market $890,000 Active 19 DOM
5. 2026-06-15
   days on market $890,000 Active 18 DOM
6. 2026-06-13
   days on market $890,000 Active 16 DOM
7. 2026-06-10
   days on market $890,000 Active 12 DOM
8. 2026-06-08
   days on market $890,000 Active 11 DOM
9. 2026-06-08
   days on market $890,000 Active 10 DOM
10. 2026-06-04
    days on market $890,000 Active 7 DOM
11. 2026-06-03
    days on market $890,000 Active 6 DOM
12. 2026-06-02
    days on market $890,000 Active 5 DOM
13. 2026-06-01
    days on market $890,000 Active 4 DOM
14. 2026-05-31
    days on market $890,000 Active 3 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: $8,069 · $672/mo
• Projected year-2 tax: $11,555 · $963/mo
• Expected delta: +$3,486/yr (+$290/mo · 43.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,200
• − Mortgage interest: −$49,854
• − Property taxes: −$8,069
• − Insurance: −$4,450
• − Repairs & maintenance: −$6,816
• − Management: −$6,816
• − Depreciation: −$25,891
• Taxable loss: −$16,696
• Est. tax savings @ 24.0%: +$4,007
• After-tax cash flow: $2,789/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): 68,521
• Household income: $76,020
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3706.0

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 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 8% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 11% Dominican 9%
• Foreign-born: 37% · Canada, Vietnam, China
• Languages at home: 62% English-only · Spanish 22% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▼ -524.76%
• Current HPI: 321.9213
• Rent YoY: ▲ 4.33%
• 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

+345.0% since first listed

15 events — show timeline

• 2026-05-28 Listed $890,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-01 Sold (Public Records) $725,000 Public Records
• 2019-10-29 Sold (MLS) $725,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-02-27 Price Changed $740,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-13 Listed $755,000 OneKey® MLS as Distributed by MLS Grid
• 2018-12-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-18 Price Changed $759,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-06 Listed $789,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-04-25 Listed $689,000 OneKey® MLS as Distributed by MLS Grid
• 2008-08-09 Delisted — HGMLS
• 2008-02-09 Listed — HGMLS
• 2002-01-03 Sold (Public Records) $385,000 Public Records
• 2000-03-09 Sold (Public Records) $200,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $8,069 · +0.8% YoY. Source: county tax records.