2860 Bailey Ave Unit 3L · New York, NY 10463

$160,000

1 bd · 1.0 ba · 750 sqft · Condo · 75 Days on market

Built 1955 Fair condition $887/mo HOA · 35% of rent

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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 +13.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

CASH BUYER'S DREAM: Spacious King-Size 1-Bedroom Co-op in Kingsbridge Heights! An incredible opportunity awaits the savvy buyer or investor in one of the Bronx’s most sought-after sections, Kingsbridge Heights. This expansive 750 sq ft co-op is ready for its next chapter and is perfectly suited for a cash buyer willing to handle upgrades to the kitchen and bathroom. Inside, you'll find a spacious unit featuring a King Size bedroom, 1 full bathroom, vaulted ceilings, and ample closet space. This blank canvas offers huge potential to customize your perfect home. The building provides exceptional amenities, including a live-in super, 24-hour security cameras, a mail room, ADA accessibil

Key facts

• Laundry room
• Ada accessibility
• Courtyard area

Tags

• LIVE-IN SUPER
• 24-HOUR SECURITY CAMERAS
• ADA ACCESSIBILITY
• LAUNDRY ROOM
• COURTYARD AREA
• EASY ACCESS TO SUBWAYS

Property features AI

Finance

• Other: Pets not allowed in the building
• Financial info: Building contains 78 units
• HOA & community: Association fee approximately $887 per month

Exterior

• Security: Closed-circuit cameras; Carbon monoxide detectors
• Home design: 6-story building
• Construction: Building constructed as multi-unit property (78 total units)
• Exterior features: Closed-circuit cameras; Carbon monoxide detectors; Lot dimensions approximately 244.42 x 116.25

Interior

• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Interior features: ADA compliant; Elevator access in the building
• Laundry & utility: Shared laundry room in the building basement (common area)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $9 ($104/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• 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: Rents rising fast (+11.6%/yr); 345 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).
• This rent runs 41% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent; built in 1955 — 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 $150,400 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.58% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 5.3

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: -6.3%
• Equity multiple: 0.75×
• Total profit: $-11,401
• Equity at exit: $23,857

10-year hold

• IRR: 11.2%
• Equity multiple: 2.21×
• Total profit: $54,092
• Equity at exit: $13,834

Cash invested: $44,800 (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 10463

• Rents YoY: 11.6%
• Active inventory: 345
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,533 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$887
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $9

Break-even live

Break-even rent $2,522

Max offer price $160,000

Occupancy floor 95%

Sensitivity live

Price	-10% $119	-5% $64	+0% $9	+5% $-47	+10% $-102
Rent	-10% $-191	-5% $-91	+0% $9	+5% $109	+10% $209
Rate	-1.0pp $89	-0.5pp $49	base $9	+0.5pp $-33	+1.0pp $-75

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	23d	3	0.63mi

HOA detail condo

• Monthly dues: $887 · $10,644/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $160,000 Active 75 DOM
2. 2026-06-18
   days on market $160,000 Active 72 DOM
3. 2026-06-17
   days on market $160,000 Active 71 DOM
4. 2026-06-15
   days on market $160,000 Active 69 DOM
5. 2026-06-13
   days on market $160,000 Active 67 DOM
6. 2026-06-10
   days on market $160,000 Active 63 DOM
7. 2026-06-08
   days on market $160,000 Active 62 DOM
8. 2026-06-08
   days on market $160,000 Active 61 DOM
9. 2026-06-04
   days on market $160,000 Active 58 DOM
10. 2026-06-03
    days on market $160,000 Active 57 DOM
11. 2026-06-01
    days on market $160,000 Active 55 DOM
12. 2026-05-31
    days on market $160,000 Active 54 DOM
13. 2026-04-07
    listed $160,000 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: $30,401
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,432
• − Management: −$2,432
• − HOA: −$10,644
• − Depreciation: −$4,655
• Taxable loss: −$1,924
• Est. tax savings @ 24.0%: +$462
• After-tax cash flow: $566/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 · 3 photos

Fair 45/100 Moderate rehab

This 750 sq ft co-op in Kingsbridge Heights requires moderate renovations to the kitchen and bathroom, but offers a blank canvas for customization and potential for significant value increase.

Repairs flagged

• Major Kitchen — No visible details
• Major Bathroom — No visible details

Value-add opportunities

• Both Kitchen renovation — Modernizing the kitchen can significantly increase both resale and rental value
• Both Bathroom renovation — Updating the bathroom can also boost both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No visible details	Major	$15,000–50,000
Bathroom · No visible details	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Kitchen renovation — Modernizing the kitchen can significantly increase both resale and rental value ↑
• Both Bathroom renovation — Updating the bathroom can also boost both resale and rental value ↑

ⓘ 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): 69,470
• Household income: $74,974
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 5586.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 17% Black 12% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 1% Dominican 25%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 40% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -294.75%
• Current HPI: 168.0211
• Rent YoY: ▲ 11.60%
• 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

1 event — show timeline

• 2026-04-07 Listed $160,000 RLS at REBNY