686 E 220th St · New York, NY 10467

$599,000

None bd · None ba · 1,860 sqft · MultiFamily public records · 655 Days on market

Built 1925 2,858 sqft lot Est $757k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Short Sale! Short Sale!! Short Sale!!! Detached 2 family home with driveway! 2nd Unit features a 4-bedroom duplex – Huge open living, dining room, kitchen, 2 bedrooms and 1 bathroom. Leading to additional 2 oversized bedrooms with a full bathroom in the attic. 1st unit features a 3 bedroom and 1 bath apartment. Over a finished spacious rentable basement with a full bathroom and separate entrance. Big backyard and private parking in the back of the house. Paved concrete in the yard for private parking! 3 electric meters and 2 gas meters. Property waiting for short sales approval from the bank.

Key facts

• 2,858 sq ft lot
• Built 1925
• Listed 655 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative. Per door: $-48/mo.
• To cash-flow at today's rent, offer at most $582k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $488k (18.5% below list).
• Recommended offer: $488k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Rents rising fast (+9.2%/yr); 129 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,882/mo this rent would consume 119% 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• It's been on market 655 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $501k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $488,200 (18.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 655 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.82% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $757,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
836 E 221st St	0.28mi	4/2.0	1,890 (+2%)	3mo	$800,000	$423	82
753 E 222nd St	0.19mi	5/5.0	1,984 (+7%)	11mo	$875,500	$441	71
760 E 221st St	0.16mi	7/—	2,100 (+13%)	1mo	$824,000	$392	70
863 E 221st St	0.34mi	4/3.0	1,683 (-10%)	5mo	$820,000	$487	64
720 E 231st St	0.58mi	5/4.0	1,800 (-3%)	6mo	$850,000	$472	62
927 E 227th St	0.58mi	4/2.0	1,824 (-2%)	10mo	$735,000	$403	61
826 E 216 St	0.33mi	6/2.0	2,092 (+12%)	4mo	$825,000	$394	61
932 E 225th St	0.49mi	5/3.0	2,000 (+8%)	10mo	$814,000	$407	56
872 E 216th St	0.40mi	5/4.0	2,125 (+14%)	11mo	$885,000	$416	48
850 E 231st St	0.65mi	4/2.0	1,624 (-13%)	7mo	$649,000	$400	43
776 Bartholdi St	0.73mi	4/2.0	2,100 (+13%)	18mo	$714,000	$340	29
1147 East 219th St #2	0.70mi	4/2.5	2,125 (+14%)	18mo	$750,000	$353	28

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

Projected returns pro-forma

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

5-year hold

• IRR: -12.2%
• Equity multiple: 0.54×
• Total profit: $-77,387
• Equity at exit: $89,313

10-year hold

• IRR: 2.9%
• Equity multiple: 1.25×
• Total profit: $42,039
• Equity at exit: $51,791

Cash invested: $167,720 (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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 129
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $4,882 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$561 /mo · $6,738/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,025
• Net cashflow: $-96

Break-even live

Break-even rent $5,003

Max offer price $582,129

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$4,882
Total (2 units)			$4,882

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-18
   status Pending
2. 2025-05-27
   status Active
3. 2025-05-23
   historical
4. 2024-07-22
   price $599,000
5. 2024-06-16
   price $995,000
6. 2024-05-22
   listed $1,100,000 Active
7. 2022-08-03
   soldstatus $906,500
8. 2022-03-10
   historical
9. 2021-11-30
   status Pending
10. 2021-11-04
    listed $879,000 Active
11. 2014-10-01
    historical
12. 2012-10-02
    listed $285,000
13. 2010-07-05
    historical
14. 2009-03-28
    listed

ⓘ 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: $6,738 · $561/mo
• Projected year-2 tax: $8,430 · $703/mo
• Expected delta: +$1,693/yr (+$141/mo · 25.1%)

ⓘ 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 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: $58,584
• − Mortgage interest: −$33,553
• − Property taxes: −$6,738
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,687
• − Management: −$4,687
• − Depreciation: −$17,425
• Taxable loss: −$11,501
• Est. tax savings @ 24.0%: +$2,760
• After-tax cash flow: $1,614/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): 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

+110.2% since first listed

14 events — show timeline

• 2026-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-05-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-05-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-22 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-16 Price Changed $995,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-22 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-03 Sold (Public Records) $906,500 Public Records
• 2022-03-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-11-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-11-04 Listed $879,000 OneKey® MLS as Distributed by MLS Grid
• 2014-10-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-10-02 Listed $285,000 OneKey® MLS as Distributed by MLS Grid
• 2010-07-05 Delisted — HGMLS
• 2009-03-28 Listed — HGMLS

Property tax history

+5.8%/yr

Latest (2025): $6,738 · +6.0% YoY. Source: county tax records.