3535 Kings College Pl Unit 5H · New York, NY 10467

$229,000

3 bd · 1.0 ba · 1,000 sqft · Condo · 75 Days on market

Built 1954 Average condition ↓ 4% since listing

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Why this score? — see what drove the B 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Unmatched value in the Bronx! Don’t miss this chance to own an affordable 3 bedroom at College Garden Cooperative. Conveniently located near public transportation, schools, and shopping, this home makes city living easy and accessible. With a spacious layout and incredible potential. Ideal for first-time buyers or anyone seeking a well-maintained home in a welcoming, community-focused building -- this is an opportunity you won’t want to miss.

Key facts

• Built 1954
• Listed 74 days

Property features AI

Finance

• HOA & community: David Associates; Building amenities include elevators and a park; Association fees include electricity, heat, and water

Exterior

• Parking: No carport; Parking: waitlist
• Utilities: Public sewer; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bedrooms: 5th floor entry
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Oil heating; Steam heating; Other heating
• Interior features: Other interior features
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $229k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $215k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Rents rising fast (+9.2%/yr); 131 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,985/mo this rent would consume 73% of the median local household income ($49k/yr) (locally 10930% 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 $2k of loan paydown is wiped out by about $7k 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 $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $215,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.30% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 6.4

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: 10.5%
• Equity multiple: 1.44×
• Total profit: $28,089
• Equity at exit: $34,145

10-year hold

• IRR: 23.3%
• Equity multiple: 3.50×
• Total profit: $160,016
• Equity at exit: $19,800

Cash invested: $64,120 (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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 131
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,985 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $775

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 69%

Sensitivity live

Price	-10% $934	-5% $854	+0% $775	+5% $696	+10% $617
Rent	-10% $540	-5% $657	+0% $775	+5% $893	+10% $1,011
Rate	-1.0pp $891	-0.5pp $834	base $775	+0.5pp $716	+1.0pp $656

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $229,000 Active 75 DOM
2. 2026-06-18
   days on market $229,000 Active 72 DOM
3. 2026-06-17
   days on market $229,000 Active 71 DOM
4. 2026-06-15
   days on market $229,000 Active 69 DOM
5. 2026-06-13
   days on market $229,000 Active 67 DOM
6. 2026-06-10
   days on market $229,000 Active 63 DOM
7. 2026-06-08
   days on market $229,000 Active 62 DOM
8. 2026-06-08
   days on market $229,000 Active 61 DOM
9. 2026-06-04
   days on market $229,000 Active 58 DOM
10. 2026-06-03
    days on market $229,000 Active 57 DOM
11. 2026-06-01
    days on market $229,000 Active 55 DOM
12. 2026-05-31
    days on market $229,000 Active 54 DOM
13. 2026-05-12
    price $229,000
14. 2026-04-07
    listed $239,000 Active

ⓘ 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: $35,816
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,865
• − Management: −$2,865
• − Depreciation: −$6,662
• Taxable income: $6,016
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $7,860/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This 3-bedroom condo in the Bronx offers a good starting point for a cosmetic renovation, with minor repairs needed in the kitchen and bathroom. Paint touch-ups and flooring refinishing would significantly enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor kitchen cabinets — Light wear and tear
• Minor bathroom tile — Slight wear
• Minor hardwood flooring — Visible wear

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — Improves functionality and aesthetics
• Both Replace worn bathroom tile — Enhances functionality and aesthetics
• Both Refinish hardwood flooring — Enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Light wear and tear	Minor	$500–3,000
bathroom tile · Slight wear	Minor	$500–3,000
hardwood flooring · Visible wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — Improves functionality and aesthetics ↑
• Both Replace worn bathroom tile — Enhances functionality and aesthetics ↑
• Both Refinish hardwood flooring — Enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 96,421
• Household income: $49,330
• Rent vs Own: 85.8% rent · 14.2% own
• Severe rent burden: 10930.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 53% Black 28% Two or more races 11% White 9% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 22%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 41% English-only · Spanish 45% Other Indo-European 7% French/Haitian/Cajun 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: ▼ -112.76%
• Current HPI: 231.537
• Rent YoY: ▲ 9.23%
• 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

-4.2% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-07 Listed $239,000 OneKey® MLS as Distributed by MLS Grid