2120 Mapes Ave Unit 1A · New York, NY 10460

$229,900

2 bd · 1.0 ba · 978 sqft · Condo · 6 Days on market

Built 1914 $714/mo HOA

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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).

• Cash flow +18.5/30.0
• 1% rule +8.9/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover your new home at 2120 Mapes Avenue, Bronx NY 10460! This charming 2-bedroom, 1-bathroom co-op apartment on the second floor is now available for sale at the unbeatable price! Enjoy an abundance of natural sunlight from the brand-new windows, illuminating the spacious and inviting living room with beautiful hardwood floors. The apartment boasts a large kitchen with ample cabinet space and room for a dining table, perfect for hosting friends and family. Located in a convenient location, this apartment is just steps away from public transportation including the BX11 and BX41 buses, with the 2 and 5 trains just a short walk away, making it easy to navigate the city. Nearby landmarks include the Bronx Zoo and the New York Botanical Garden, providing plenty of opportunities for family outings. With over 40 years of owner occupancy, this low-maintenance apartment is perfect for anyone looking for a comfortable and welcoming living space. Don't miss out on the chance to make this apartment your new home! Board Approval Required, Pet Friendly! More Photos Coming soon !

Key facts

• Upgraded electric
• Vaulted ceilings
• Updated bathroom

Tags

• REFINISHED HARDWOOD FLOORS
• VAULTED CEILINGS
• UPGRADED ELECTRIC
• UPDATED BATHROOM
• ON-SITE LAUNDRY
• OVERSIZED WINDOWS

Property features AI

Finance

• Other: Living area recorded from public records
• HOA & community: Has association; Monthly association fee of $714; Association covers heat, hot water, water, trash, exterior and common area maintenance, and grounds care; Live-in superintendent; Maintenance and snow removal provided

Exterior

• Parking: On-street parking
• Utilities: Con Edison electric; Public sewer; Electricity available; Sewer connected; Public trash collection; Water available
• Home design: Stock cooperative; One level; Entry level: 2; Six-story building
• Construction: Other construction materials; Other foundation; Common basement; Property updated/remodeled
• Exterior features: Garden; Not waterfront

Interior

• Kitchen: Cooktop; Gas oven; Gas range; Microwave; Oven; Range; Refrigerator
• Bedrooms: Bedroom on first floor
• Flooring: Ceramic tile; Hardwood; Tile; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Wall/window air conditioning units; Other heating (see remarks)
• Interior features: First-floor bedroom; High ceilings; Open floor plan; Open kitchen; Oversized windows; Walk-up building; Updated/remodeled condition
• Laundry & utility: Common area laundry; Laundry room in basement

🏢 Co-op / cooperative unit. The $229,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 7.4% 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: 78 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,193/mo this rent would consume 106% of the median local household income ($36k/yr) (locally 7852% 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 $19k of equity ($2k loan paydown + $17k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $139k; list at $230k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $229,900

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.39% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.57×
• Total profit: $101,345
• Equity at exit: $166,346

10-year hold

• IRR: 20.5%
• Equity multiple: 5.42×
• Total profit: $284,638
• Equity at exit: $322,564

Cash invested: $64,372 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,193 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$714
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $219

Break-even live

Break-even rent $2,915

Max offer price $229,900

Occupancy floor 88%

Sensitivity live

Price	-10% $378	-5% $299	+0% $219	+5% $140	+10% $60
Rent	-10% $-33	-5% $93	+0% $219	+5% $345	+10% $472
Rate	-1.0pp $335	-0.5pp $278	base $219	+0.5pp $160	+1.0pp $99

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	0d	1	0.18mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	0.38mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	0.38mi

HOA detail condo

• Monthly dues: $714 · $8,568/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $229,900 Active 6 DOM
2. 2026-06-17
   days on market $229,900 Active 5 DOM
3. 2026-06-16
   days on market $229,900 Active 4 DOM
4. 2026-06-15
   days on market $229,900 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $229,900 Active 1 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 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: $38,310
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,065
• − Management: −$3,065
• − HOA: −$8,568
• − Depreciation: −$6,688
• Taxable loss: −$551
• Est. tax savings @ 24.0%: +$132
• After-tax cash flow: $2,764/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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 (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 7.46%
• Current HPI: 224.0425
• 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

+64.2% since first listed

11 events — show timeline

• 2026-06-12 Listed $229,900 OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $210,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-06 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-23 Sold (MLS) $139,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-06-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-06-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-05-11 Listed $139,999 OneKey® MLS as Distributed by MLS Grid