3201 Grand Concourse Unit 2E · New York, NY 10468

$219,000

1 bd · 1.5 ba · 1,068 sqft · SingleFamily · 86 Days on market

Built 1963

---

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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Appreciation +5.3/10.0
• 1% rule +5.2/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious, sunny 1,068 sq. ft. one bedroom BALCONY unit on the GRAND CONCOURSE. Quiet well maintained building with solid financials and high owner occupancy rate. Quick access to city via B,D,4 subway lines and express bus service. Cherry stained kitchen cabinets, stainless steel appliances, hardwood floors, renovated bathrooms and more. Walking distance to Parks, the NY Botanical Gardens and esteemed educational facilities such as Lehman College and Bronx High School of Science. Laundry room and limited parking garage option - wait list parking only. No pets. Where else in today's market can you purchase a 1,068 sq. ft. one bedroom apartment at these prices but the beautiful Grand Concourse. Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Private balcony
• Modern kitchen
• Garage

Tags

• GLEAMING HARDWOOD FLOORS
• PRIVATE BALCONY
• MODERN KITCHEN

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: Rents rising fast (+6.7%/yr); 122 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,223/mo this rent would consume 58% of the median local household income ($46k/yr) (locally 9659% 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 $3k of equity ($2k loan paydown + $1k appreciation (0.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 6.7% rent growth), your $61k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $190k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.5% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.37×
• Total profit: $22,900
• Equity at exit: $69,162

10-year hold

• IRR: 14.4%
• Equity multiple: 2.84×
• Total profit: $112,763
• Equity at exit: $87,724

Cash invested: $61,320 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 122
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,223 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $243

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 84%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2025-11-07
   status Pending
2. 2025-08-13
   listed $219,000 Active
3. 2025-08-02
   historical
4. 2024-08-21
   listed $219,000 Active
5. 2018-10-18
   soldstatus $190,000 Sold 756-char remark

   Show marketing remark (756 chars)

   Spacious, sunny 1,068 sq. ft. one bedroom BALCONY unit on the GRAND CONCOURSE. Quiet well maintained building with solid financials and high owner occupancy rate. Quick access to city via B,D,4 subway lines and express bus service. Cherry stained kitchen cabinets, stainless steel appliances, hardwood floors, renovated bathrooms and more. Walking distance to Parks, the NY Botanical Gardens and esteemed educational facilities such as Lehman College and Bronx High School of Science. Laundry room and limited parking garage option - wait list parking only. No pets. Where else in today's market can you purchase a 1,068 sq. ft. one bedroom apartment at these prices but the beautiful Grand Concourse. Additional Information: HeatingFuel:Oil Above Ground,

6. 2018-06-20
   historical Pending 756-char remark

   Show marketing remark (756 chars)

   Spacious, sunny 1,068 sq. ft. one bedroom BALCONY unit on the GRAND CONCOURSE. Quiet well maintained building with solid financials and high owner occupancy rate. Quick access to city via B,D,4 subway lines and express bus service. Cherry stained kitchen cabinets, stainless steel appliances, hardwood floors, renovated bathrooms and more. Walking distance to Parks, the NY Botanical Gardens and esteemed educational facilities such as Lehman College and Bronx High School of Science. Laundry room and limited parking garage option - wait list parking only. No pets. Where else in today's market can you purchase a 1,068 sq. ft. one bedroom apartment at these prices but the beautiful Grand Concourse. Additional Information: HeatingFuel:Oil Above Ground,

7. 2018-03-12
   listed $179,000 Active 756-char remark

   Show marketing remark (756 chars)

   Spacious, sunny 1,068 sq. ft. one bedroom BALCONY unit on the GRAND CONCOURSE. Quiet well maintained building with solid financials and high owner occupancy rate. Quick access to city via B,D,4 subway lines and express bus service. Cherry stained kitchen cabinets, stainless steel appliances, hardwood floors, renovated bathrooms and more. Walking distance to Parks, the NY Botanical Gardens and esteemed educational facilities such as Lehman College and Bronx High School of Science. Laundry room and limited parking garage option - wait list parking only. No pets. Where else in today's market can you purchase a 1,068 sq. ft. one bedroom apartment at these prices but the beautiful Grand Concourse. Additional Information: HeatingFuel:Oil Above Ground,

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,675
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$6,371
• Taxable loss: −$611
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $3,058/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): 75,557
• Household income: $46,233
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 9659.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Black 17% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 11% Dominican 45%
• Common ancestry: Hispanic 1%
• Foreign-born: 46% · Canada, Vietnam, Jamaica
• Languages at home: 22% English-only · Spanish 69% 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: ▲ 0.50%
• Current HPI: 249.8923
• Rent YoY: ▲ 6.70%
• 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

+22.3% since first listed

7 events — show timeline

• 2025-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-13 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-21 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-18 Sold (MLS) $190,000 OneKey® MLS as Distributed by MLS Grid
• 2018-06-20 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-03-12 Listed $179,000 OneKey® MLS as Distributed by MLS Grid