2105 Wallace Ave Unit 4A · New York, NY 10462

$149,000

1 bd · 1.0 ba · 750 sqft · Condo · 375 Days on market

Built 1960

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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 +20.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +5.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1-Bedroom Co-op in Pelham Parkway, Bronx! Welcome to 2105 Wallace Avenue, nestled in the heart of the vibrant Pelham Parkway neighborhood! This spacious one-bedroom co-op offers the perfect mix of city convenience and peaceful living—ideal for first-time buyers or savvy investors. Though the unit needs a bit of TLC, it’s a blank canvas waiting for your personal touch. Step into a bright, airy living room with large windows and a generous layout. The serene bedroom features ample closet space, while the full bath adds comfort and practicality. The kitchen comes equipped with modern stainless steel appliances—perfect for daily meals or weekend cooking sessions. Enjo

Key facts

• 78 garage spots
• Built 1960
• Listed 374 days

Property features AI

Finance

• Other: Community features include sidewalks and other amenities
• HOA & community: Association managed by HSC Management; Monthly association fee; Association provides landscaping; Association fee includes heat, hot water, sewer, and water; Additional monthly fee to offset the annual budget

Exterior

• Parking: Has garage with 78 parking spaces; No carport; Parking features: Waitlist
• Utilities: Con-Edison electric; Public sewer; Cable available and connected; Electricity available and connected; Sewer available and connected; Trash collection (public); Water available and connected
• Home design: Stock cooperative; One story; Living area per public records
• Construction: Brick construction; Basement finished, full, with walk-out access; No attic reported
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Gas range; Microwave; Range; Refrigerator
• Bedrooms: One-level dwelling with rooms on a single level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Oil heating; Radiant heating; Steam heating; Other heating
• Interior features: Eat-in kitchen; Elevator; Formal dining; Galley-style kitchen; Granite counters; High ceilings; Primary bathroom; Natural woodwork; Original details; Other
• Laundry & utility: Common area laundry; In-basement laundry; Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 (+9.4%/yr); 191 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,383/mo this rent would consume 47% of the median local household income ($61k/yr) (locally 7650% 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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 375 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: 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 $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 375 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.54%
• DSCR: 1.25
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,148
• Equity at exit: $22,216

10-year hold

• IRR: 16.5%
• Equity multiple: 2.82×
• Total profit: $75,888
• Equity at exit: $12,883

Cash invested: $41,720 (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 10462

• Home prices YoY: -10.4%
• Rents YoY: 9.4%
• Active inventory: 191
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,383 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA est. from 2 same-building comps: −$660
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $192

Break-even live

Break-even rent $2,139

Max offer price $149,000

Occupancy floor 87%

Sensitivity live

Price	-10% $295	-5% $244	+0% $192	+5% $141	+10% $90
Rent	-10% $4	-5% $98	+0% $192	+5% $287	+10% $381
Rate	-1.0pp $268	-0.5pp $230	base $192	+0.5pp $154	+1.0pp $115

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Pelham Pkwy S Unit B Bronx, NY	1.0	1.0	725	$2,850	$3.93	25d	1	0.82mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $149,000 Active 375 DOM
2. 2026-06-18
   days on market $149,000 Active 372 DOM
3. 2026-06-17
   days on market $149,000 Active 371 DOM
4. 2026-06-15
   days on market $149,000 Active 369 DOM
5. 2026-06-13
   days on market $149,000 Active 367 DOM
6. 2026-06-10
   days on market $149,000 Active 363 DOM
7. 2026-06-08
   days on market $149,000 Active 362 DOM
8. 2026-06-03
   days on market $149,000 Active 357 DOM
9. 2026-06-01
   days on market $149,000 Active 355 DOM
10. 2026-05-31
    days on market $149,000 Active 354 DOM
11. 2025-06-12
    listed $149,000 Active
12. 2025-06-10
    historical $149,000
13. 2024-04-13
    price $129,000
14. 2024-03-29
    listed $130,000 Active
15. 2024-03-28
    historical

ⓘ 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 · 15 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: $28,590
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − HOA: −$7,920
• − Depreciation: −$4,335
• Taxable income: $435
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $2,206/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): 76,320
• Household income: $60,966
• Rent vs Own: 76.5% rent · 23.5% own
• Severe rent burden: 7650.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 46% Black 22% Asian 18% White 10% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 17% Dominican 15%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 39% English-only · Spanish 36% Other Indo-European 16% Arabic 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: ▼ -41.59%
• Current HPI: 356.326
• Rent YoY: ▲ 9.43%
• 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

+14.6% since first listed

5 events — show timeline

• 2025-06-12 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Coming Soon $149,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-13 Price Changed $129,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-29 Listed $130,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-28 Coming Soon — OneKey® MLS as Distributed by MLS Grid