4162 De Reimer Ave · New York, NY 10466

$569,000

None bd · None ba · 1,476 sqft · MultiFamily public records · 20 Days on market

Built 1920 2,374 sqft lot Est $654k · 13% under

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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 +13.6/30.0
• ARV discount +13.3/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• 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: 2 units. confirmed

Listing remarks

BEAUTIFUL TWO FAMILY HOUSE LOCATED IN THE HEART OF THE BRONX. NEEDS OF TLC. A/O NO MORE SHOWINGS AT THIS MOMENT.

Key facts

• Located in the bronx
• Two family house
• 2,374 sq ft lot

Tags

• TWO FAMILY HOUSE
• LOCATED IN THE BRONX

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $569k.

Deal economics

• At list price, monthly cash flow is $28 ($341/yr) — positive. Per door: $14/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $479k (15.8% below list).
• Recommended offer: $479k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 161 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,793/mo this rent would consume 87% of the median local household income ($66k/yr) (locally 4791% 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 20 days — a 2% lower offer ($560k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $360k; list at $569k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $479,300 (15.8% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $653,868
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4331 Wilder Ave	0.20mi	5/2.0	1,574 (+7%)	2mo	$803,000	$510	78
4351 De Reimer Ave	0.24mi	5/3.5	1,522 (+3%)	14mo	$675,000	$443	72
4147 Ely Ave	0.22mi	3/2.0	1,540 (+4%)	17mo	$750,000	$487	68
4143 Ely Ave	0.23mi	5/2.0	1,606 (+9%)	13mo	$566,000	$352	64
1788 Pitman Ave	0.34mi	3/—	1,530 (+4%)	18mo	$642,999	$420	63
4236 Gunther Ave	0.35mi	—/—	1,568 (+6%)	15mo	$550,000	$351	61
4163 Wickham Ave	0.31mi	5/3.0	1,680 (+14%)	4mo	$925,000	$551	59
1719 Bussing Ave	0.46mi	4/2.0	1,668 (+13%)	5mo	$685,000	$411	53
507 S 6th Ave	0.55mi	4/2.0	1,674 (+13%)	4mo	$349,900	$209	49
850 E 231st St	0.63mi	4/2.0	1,624 (+10%)	7mo	$649,000	$400	48
848 E 231st St	0.62mi	5/2.0	1,624 (+10%)	19mo	$850,000	$523	38
4532 Hill Ave	0.56mi	3/2.0	1,280 (-13%)	19mo	$580,000	$453	36

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-90,428
• Equity at exit: $84,840

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-76,555
• Equity at exit: $49,197

Cash invested: $159,320 (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 10466

• Active inventory: 161
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $4,793 high
• Mortgage (P&I): −$2,984
• Tax from tax record: −$537 /mo · $6,445/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,007
• Net cashflow: $28

Break-even live

Break-even rent $4,757

Max offer price $569,000

Occupancy floor 94%

Sensitivity live

Price	-10% $351	-5% $189	+0% $28	+5% $-133	+10% $-294
Rent	-10% $-350	-5% $-161	+0% $28	+5% $218	+10% $407
Rate	-1.0pp $315	-0.5pp $173	base $28	+0.5pp $-119	+1.0pp $-269

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,792
Total (2 units)			$4,793

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: $142,250
• Closing costs: $17,070
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 S 10th Ave Mount Vernon, NY	3.0	1.0	1200	$3,500	$2.92	25d	1	0.42mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	25d	1	0.45mi
607 S 5th Ave Unit 2ND Mt Vernon, NY	3.0	1.0	1200	$3,400	$2.83	25d	1	0.58mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	5d	1	0.60mi
60 Saint Pauls Pl Mount Vernon, NY	3.0	1.0	1100	$3,000	$2.73	25d	1	0.75mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	2d	1	1.31mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	25d	1	1.31mi
65 Hunts Bridge Rd Yonkers, NY	3.0	1.0	1600	$3,500	$2.19	15d	1	1.32mi
70 Elm Ave Unit Right Mt Vernon, NY	3.0	2.5	1800	$4,000	$2.22	5d	1	1.35mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	25d	1	1.37mi
116 Alexander Ave Yonkers, NY	2.0	2.0	1200	$3,000	$2.50	0d	1	1.45mi

Listing history 12 events

1. 2024-05-06
   status Pending
2. 2024-04-16
   listed $569,000 Active
3. 2021-12-31
   historical
4. 2021-12-30
   status Active
5. 2021-12-30
   price $519,000
6. 2021-08-25
   historical
7. 2021-08-24
   listed $450,000 Active
8. 2020-08-22
   historical
9. 2020-01-31
   listed $450,000 Active
10. 2006-10-02
    soldstatus $360,400
11. 1996-03-01
    soldstatus $155,000
12. 1986-11-06
    soldstatus $112,000

ⓘ 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: $6,445 · $537/mo
• Projected year-2 tax: $8,031 · $669/mo
• Expected delta: +$1,586/yr (+$132/mo · 24.6%)

ⓘ 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 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,516
• − Mortgage interest: −$31,873
• − Property taxes: −$6,445
• − Insurance: −$2,845
• − Repairs & maintenance: −$4,601
• − Management: −$4,601
• − Depreciation: −$16,553
• Taxable loss: −$9,402
• Est. tax savings @ 24.0%: +$2,257
• After-tax cash flow: $2,597/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): 71,116
• Household income: $65,969
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 4791.0

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 0.55)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 7% White 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 12%
• Common ancestry: Hispanic 1%
• Foreign-born: 42% · Canada, Jamaica, United Kingdom
• Languages at home: 67% English-only · Spanish 22% French/Haitian/Cajun 1% 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: ▼ -314.77%
• Current HPI: 349.542
• 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

+408.0% since first listed

12 events — show timeline

• 2024-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-04-16 Listed $569,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-12-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-12-30 Price Changed $519,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-08-24 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2020-08-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-01-31 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2006-10-02 Sold (Public Records) $360,400 Public Records
• 1996-03-01 Sold (Public Records) $155,000 Public Records
• 1986-11-06 Sold (Public Records) $112,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $6,445 · +6.3% YoY. Source: county tax records.