969 E 179th St · New York, NY 10460

$775,000

4 bd · 3.0 ba · 2,205 sqft · MultiFamily public records · 526 Days on market

Built 1992 2,347 sqft lot Est $900k · 14% under

---

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 +16.9/30.0
• ARV discount +13.7/15.0
• Appreciation +8.7/10.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• 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: 2 units. confirmed

Listing remarks

Welcome to this charming two-family home located in the heart of West Farms! This property features a spacious 3-bedroom, 1.5-bath duplex on the first and second floors, offering plenty of room for family living. The second unit is a cozy 2-bedroom, 1-bath apartment, perfect for rental income or extended family. Additional features include a driveway with space for 2 cars and one assigned parking spot at the rear of the property. Enjoy a private backyard ideal for outdoor relaxation. With a low HOA fee of just $100, this home is a fantastic opportunity in a desirable neighborhood with Solar Panel. Allow 24-48 Hours to confirm the showing request and showings only on Weekends.

Key facts

• Private backyard
• 2,347 sq ft lot
• Parking

Tags

• PRIVATE BACKYARD
• DRIVEWAY WITH SPACE FOR 2 CARS
• ASSIGNED PARKING SPOT
• DESIRABLE NEIGHBORHOOD

Property features AI

Exterior

• Parking: One parking space
• Utilities: Public sewer; Natural gas connected; Public trash collection
• Home design: Duplex
• Construction: Frame construction; Shingle siding
• Exterior features: Frame construction with shingle siding; Not waterfront

Interior

• Kitchen: Chef's kitchen; Granite counters; Eat-in kitchen; Pantry
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating (natural gas); Wall/window air conditioning units
• Interior features: Chef's kitchen with granite counters; Eat-in kitchen; Formal dining room; Pantry
• Laundry & utility: Natural gas connected

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive. Per door: $258/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 $638k (17.7% below list).
• Recommended offer: $638k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $6,379/mo this rent would consume 211% 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 $63k of equity ($5k loan paydown + $58k 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 $217k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 526 days — a 12% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 3 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 $460k; list at $775k implies a 68% gain — meaningful room to come down on a strong offer.

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 $637,900 (17.7% below list)

Questions for the listing agent

1. It's been on market 526 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.82% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $899,640
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
977 E 179th St	0.02mi	5/3.0 (+1)	2,205 (0%)	1mo	$725,000	$329	93
975 E 178th St	0.06mi	5/3.0 (+1)	2,205 (0%)	4mo	$900,000	$408	89
2079 Honeywell Ave	0.18mi	5/3.0 (+1)	2,368 (+7%)	6mo	$1,180,000	$498	69
1821 Mohegan Ave	0.44mi	5/3.0 (+1)	2,301 (+4%)	12mo	$810,000	$352	57
673 Oakland Pl	0.59mi	5/2.0 (+1)	2,080 (-6%)	8mo	$850,000	$409	48
1513 Rosedale Ave	0.63mi	5/3.0 (+1)	1,946 (-12%)	3mo	$799,000	$411	44
1568 Longfellow Ave	0.63mi	5/3.0 (+1)	2,400 (+9%)	22mo	$840,000	$350	33
1631 Van Buren St	0.59mi	5/4.0 (+1)	2,360 (+7%)	23mo	$830,000	$352	32

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

Projected returns pro-forma

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

5-year hold

• IRR: 21.0%
• Equity multiple: 2.50×
• Total profit: $325,411
• Equity at exit: $560,756

10-year hold

• IRR: 19.5%
• Equity multiple: 5.23×
• Total profit: $918,796
• Equity at exit: $1,087,374

Cash invested: $217,000 (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: 20.3×

Monthly cashflow live

• Estimated rent: $6,379 medium
• Mortgage (P&I): −$4,064
• Tax from tax record: −$135 /mo · $1,625/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,340
• Net cashflow: $517

Break-even live

Break-even rent $5,725

Max offer price $775,000

Occupancy floor 87%

Sensitivity live

Price	-10% $956	-5% $736	+0% $517	+5% $-584	+10% $-852
Rent	-10% $13	-5% $265	+0% $517	+5% $769	+10% $1,021
Rate	-1.0pp $907	-0.5pp $714	base $517	+0.5pp $316	+1.0pp $112

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,378
Total (2 units)			$6,379

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $775,000 Active 526 DOM
2. 2026-06-17
   days on market $775,000 Active 525 DOM
3. 2026-06-15
   days on market $775,000 Active 523 DOM
4. 2026-06-13
   days on market $775,000 Active 521 DOM
5. 2026-06-10
   days on market $775,000 Active 517 DOM
6. 2026-06-08
   days on market $775,000 Active 516 DOM
7. 2026-06-03
   days on market $775,000 Active 511 DOM
8. 2026-06-01
   days on market $775,000 Active 509 DOM
9. 2026-05-31
   days on market $775,000 Active 508 DOM
10. 2025-01-06
    listed $775,000 Active
11. 2024-06-18
    historical
12. 2024-03-29
    price $799,999
13. 2023-12-07
    historical
14. 2023-12-07
    listed $875,000 Active
15. 2023-11-18
    listed $915,000 Active
16. 2006-05-19
    soldstatus $460,000

ⓘ 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: $1,625 · $135/mo
• Projected year-2 tax: $7,361 · $613/mo
• Expected delta: +$5,736/yr (+$478/mo · 353.0%)

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

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: $76,548
• − Mortgage interest: −$43,412
• − Property taxes: −$1,625
• − Insurance: −$3,875
• − Repairs & maintenance: −$6,124
• − Management: −$6,124
• − Depreciation: −$22,545
• Taxable loss: −$7,157
• Est. tax savings @ 24.0%: +$1,718
• After-tax cash flow: $7,920/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

+68.5% since first listed

7 events — show timeline

• 2025-01-06 Listed $775,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-03-29 Price Changed $799,999 OneKey® MLS as Distributed by MLS Grid
• 2023-12-07 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-18 Listed $915,000 OneKey® MLS as Distributed by MLS Grid
• 2006-05-19 Sold (Public Records) $460,000 Public Records

Property tax history

-4.7%/yr

Latest (2025): $1,625 · -73.6% YoY. Source: county tax records.