1969 Edison Ave · New York, NY 10461

$700,000

4 bd · 2.0 ba · 2,030 sqft · MultiFamily public records · 36 Days on market

Built 1955 1,450 sqft lot Est $891k · 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 +13.2/30.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• 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

Large Brick 2-family in Pelham Bay. 2BR/1BA over 2BR/1BA over finished basement with outside entrance. Attached garage. Fenced backyard with deck. Split A/C on 2nd floor. Finished basement is fully above grade with front and rear egresses; Steps to 6 train, shopping, BxM8 express bus to Midtown, and Pelham Bay Park, NYC's largest park. Priced to sell. Will go fast.

Key facts

• Steps to shopping
• Attached garage
• Finished basement

Tags

• FENCED BACKYARD
• FINISHED BASEMENT
• ATTACHED GARAGE
• STEPS TO 6 TRAIN
• STEPS TO SHOPPING
• STEPS TO EXPRESS BUS

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Attached parking; Total 2 parking spaces; 1-car garage
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront; No additional parcels

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Hot water heating; Oil heating; ENERGY STAR qualified equipment; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Washer/dryer hookup; Finished full basement with walk-out access
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $-9 ($-110/yr) — negative. Per door: $-5/mo.
• To cash-flow at today's rent, offer at most $698k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $570k (18.5% below list).
• Recommended offer: $570k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Ps 71 Rose E Scala (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 1,179 students, 75% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+8.0%/yr); 148 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $5,703/mo this rent would consume 102% of the median local household income ($67k/yr) (locally 4430% 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 $5k of loan paydown is wiped out by about $21k 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 36 days — a 3% lower offer ($679k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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: 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 $570,300 (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 36 days. Have you received any prior offers? Is the seller open to a 19% 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $891,170
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1981 Pilgrim Ave	0.05mi	4/3.0	2,065 (+2%)	16mo	$925,000	$448	78
2039 Colonial Ave	0.23mi	4/2.0	1,953 (-4%)	9mo	$900,000	$461	75
2824 Zulette Ave	0.70mi	4/3.0	2,106 (+4%)	5mo	$925,000	$439	53
2813 Wellman Ave	0.72mi	4/3.0	2,015 (-1%)	12mo	$775,000	$385	51
1539 Hollywood Ave	0.64mi	5/3.0 (+1)	2,142 (+6%)	3mo	$999,999	$467	49
2891 Dudley Ave	0.73mi	4/3.0	2,150 (+6%)	8mo	$920,000	$428	45
1528 Ericson Pl	0.73mi	4/2.5	2,019 (-0%)	23mo	$885,000	$438	44
2888 Wellman Ave	0.71mi	5/3.0 (+1)	2,196 (+8%)	2mo	$1,380,000	$628	43
2889 Wellman Ave	0.69mi	5/3.0 (+1)	2,110 (+4%)	13mo	$905,000	$429	41
1511 Robertson Pl	0.66mi	4/3.0	2,322 (+14%)	6mo	$710,000	$306	36
1620 Ohm Ave	0.67mi	5/3.0 (+1)	1,880 (-7%)	15mo	$920,000	$489	35

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 · 7.99% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-84,050
• Equity at exit: $104,372

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $62,462
• Equity at exit: $60,523

Cash invested: $196,000 (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 10461

• Home prices YoY: -28.3%
• Rents YoY: 8.0%
• Active inventory: 148
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $5,703 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$552 /mo · $6,624/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,198
• Net cashflow: $-9

Break-even live

Break-even rent $5,715

Max offer price $698,383

Occupancy floor 95%

Sensitivity live

Price	-10% $387	-5% $189	+0% $-9	+5% $-207	+10% $-405
Rent	-10% $-460	-5% $-234	+0% $-9	+5% $216	+10% $441
Rate	-1.0pp $343	-0.5pp $169	base $-9	+0.5pp $-191	+1.0pp $-375

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$5,702
Total (2 units)			$5,703

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-24
   status Pending
2. 2026-03-19
   listed $700,000 Active
3. 2011-10-28
   historical
4. 2011-10-25
   listed
5. 2011-09-01
   historical
6. 2011-04-08
   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: $6,624 · $552/mo
• Projected year-2 tax: $9,227 · $769/mo
• Expected delta: +$2,603/yr (+$217/mo · 39.3%)

ⓘ 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,436
• − Mortgage interest: −$39,211
• − Property taxes: −$6,624
• − Insurance: −$3,500
• − Repairs & maintenance: −$5,475
• − Management: −$5,475
• − Depreciation: −$20,364
• Taxable loss: −$12,212
• Est. tax savings @ 24.0%: +$2,931
• After-tax cash flow: $2,821/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): 52,012
• Household income: $67,028
• Rent vs Own: 70.3% rent · 29.7% own
• Severe rent burden: 4430.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 47% White 30% Asian 13% Two or more races 10% Black 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 20% Cuban 1% Dominican 13%
• Common ancestry: Romanian 1%
• Foreign-born: 30% · Canada, China, Vietnam
• Languages at home: 43% English-only · Spanish 34% Other Indo-European 13% Tagalog/Filipino 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: ▼ -105.06%
• Current HPI: 266.5457
• Rent YoY: ▲ 7.99%
• 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

6 events — show timeline

• 2026-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Listed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2011-10-28 Delisted — HGMLS
• 2011-10-25 Listed — HGMLS
• 2011-09-01 Delisted — HGMLS
• 2011-04-08 Listed — HGMLS

Property tax history

+11.0%/yr

Latest (2025): $6,624 · +0.8% YoY. Source: county tax records.