2830 Briggs Ave Unit 5E · New York, NY 10458

$135,000

2 bd · 1.0 ba · 855 sqft · Condo · 34 Days on market

Built 1955 Poor condition $1268/mo HOA · 34% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +1.0/5.0

Listing remarks

Subletting allowed after 2 years! Bring your contractor and vision to this spacious 2-bedroom, 1-bath home at 2830 Briggs Avenue. Priced to reflect its condition, this apartment offers an outstanding opportunity for buyers seeking value and the chance to fully renovate and customize a home to their exact taste. The apartment needs full renovation and is being sold strictly as-is. With generously sized living and dining areas, classic hardwood floors, large rooms, and original pre-war details, the layout provides a strong foundation for a complete transformation. The king-sized primary bedroom offers excellent closet space and natural light, while the second bedroom is ideal for a home offic

Key facts

• Laundry room
• Spacious kitchen
• Elevator

Tags

• SPACIOUS KITCHEN
• LAUNDRY ROOM
• ELEVATOR
• CLOSE TO SUBWAY LINES
• NEARBY ATTRACTIONS

Property features AI

Finance

• HOA & community: Has association; Monthly association fee of $1,268; Association fee includes gas, heat, hot water, sewer, snow removal, trash and water; Additional assessment of $63.40 per month ending 03/27

Exterior

• Parking: Garage; 10 garage spaces
• Utilities: Con-Edison electric service; Natural gas connected; Public sewer
• Home design: Stock cooperative; Entry level 5
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: No appliances included
• Bedrooms: Pets allowed
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window AC units
• Interior features: Open floorplan; Full basement; 5 total rooms
• Laundry & utility: Common area laundry; Shared laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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 (+8.0%/yr); 62 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,756/mo this rent would consume 110% of the median local household income ($41k/yr) (locally 10274% 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 $8k of equity ($933 loan paydown + $7k appreciation (5.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% 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 $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 2.78% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.33%
• DSCR: 2.08
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.03% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 3.67×
• Total profit: $100,796
• Equity at exit: $76,705

10-year hold

• IRR: 42.4%
• Equity multiple: 9.25×
• Total profit: $311,669
• Equity at exit: $132,549

Cash invested: $37,800 (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 10458

• Home prices YoY: 3.0%
• Rents YoY: 8.0%
• Active inventory: 62
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $3,756 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$1,268
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $766

Break-even live

Break-even rent $2,786

Max offer price $135,000

Occupancy floor 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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	1.10mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	1.10mi
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	1.48mi

HOA detail condo

• Monthly dues: $1,268 · $15,216/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $135,000 Active 34 DOM
2. 2026-06-17
   days on market $135,000 Active 33 DOM
3. 2026-06-16
   days on market $135,000 Active 32 DOM
4. 2026-06-15
   days on market $135,000 Active 31 DOM
5. 2026-06-13
   days on market $135,000 Active 29 DOM
6. 2026-06-10
   days on market $135,000 Active 25 DOM
7. 2026-06-08
   days on market $135,000 Active 24 DOM
8. 2026-06-08
   days on market $135,000 Active 23 DOM
9. 2026-06-04
   days on market $135,000 Active 20 DOM
10. 2026-06-03
    days on market $135,000 Active 19 DOM
11. 2026-06-02
    days on market $135,000 Active 18 DOM
12. 2026-06-01
    days on market $135,000 Active 17 DOM
13. 2026-05-31
    days on market $135,000 Active 16 DOM
14. 2026-05-15
    listed $135,000 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: $45,072
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$3,606
• − Management: −$3,606
• − HOA: −$15,216
• − Depreciation: −$3,927
• Taxable income: $8,455
• Est. tax owed @ 24.0%: −$2,029
• After-tax cash flow: $7,166/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 · 15 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including new appliances, fixtures, flooring, and paint. It offers a strong foundation for a complete transformation and is an outstanding opportunity for buyers seeking value and the chance to fully renovate and customize a home to their exact taste.

Repairs flagged

• Major kitchen appliances — Old and worn
• Major bathroom fixtures — Worn and outdated
• Major flooring — Worn and in need of replacement
• Major interior walls/paint — Worn and in need of repainting

Value-add opportunities

• Resale kitchen appliances — Modern appliances will attract buyers
• Resale bathroom fixtures — Upgraded fixtures will appeal to buyers
• Both flooring — New flooring will improve both resale and rental value
• Both interior walls/paint — Fresh paint will improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · Old and worn	Major	$15,000–50,000
bathroom fixtures · Worn and outdated	Major	$15,000–50,000
flooring · Worn and in need of replacement	Major	$15,000–50,000
interior walls/paint · Worn and in need of repainting	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale kitchen appliances — Modern appliances will attract buyers ↑
• Resale bathroom fixtures — Upgraded fixtures will appeal to buyers ↑
• Both flooring — New flooring will improve both resale and rental value ↑
• Both interior walls/paint — Fresh paint will improve 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): 74,898
• Household income: $40,800
• Rent vs Own: 95.8% rent · 4.2% own
• Severe rent burden: 10274.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Black 16% Two or more races 10% White 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 15% Dominican 34%
• Foreign-born: 41% · Canada, Jamaica, South Korea
• Languages at home: 30% English-only · Spanish 61% Other Indo-European 3% 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: ▲ 5.03%
• Current HPI: 173.4217
• Rent YoY: ▲ 8.04%
• 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

• 2026-05-15 Listed $135,000 OneKey® MLS as Distributed by MLS Grid