757 Elton Ave · New York, NY 10451

$1,400,000

6 bd · 3.9 ba · 3,036 sqft · MultiFamily public records · 8 Days on market

Built 1999 2,200 sqft lot

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Why this score? — see what drove the D 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 +11.5/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Located in the heart of Melrose, the South Bronx, 757 Elton Ave, Bronx, NY 10451 is a well-maintained, three-story brick multi-family home offering approximately 3,036 square feet of living space on a 2,200 square foot lot. Built in 1999, this legal three-family property features three separate apartments, including a spacious 3-bedroom, 2-bathroom unit, a 2-bedroom, 1-bathroom unit, and a 1-bedroom, 1-bathroom unit, providing flexibility for both investors and owner-occupants.

Key facts

• Multi-family home
• Heart of melrose
• Well-maintained

Tags

• MULTI-FAMILY HOME
• THREE SEPARATE APARTMENTS
• WELL-MAINTAINED
• LEGAL THREE-FAMILY PROPERTY
• HEART OF MELROSE

Property features AI

Exterior

• Parking: Two parking spaces; Assigned and common off-street parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Open kitchen layout
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Entrance foyer; Open kitchen

What this means for you Summary

Snapshot

• This is a 2×2bd/1.3ba + 1×1bd/1.3ba units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $-452 ($-5k/yr) — negative. Per door: $-151/mo.
• To cash-flow at today's rent, offer at most $1.32M (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.02M (27.2% below list).
• Recommended offer: $1.02M (27.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+2.6%/yr); 69 active listings in the ZIP; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $10,195/mo this rent would consume 316% of the median local household income ($39k/yr) (locally 6917% 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 $19k of equity ($10k loan paydown + $9k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$92k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $1,019,500 (27.2% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $919,908
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
784 Elton Ave	0.06mi	7/3.0 (+1)	3,036 (0%)	19mo	$920,000	$303	73
299 E 150th St	0.43mi	7/3.0 (+1)	2,970 (-2%)	2mo	$875,000	$295	66
426 E 159th St	0.11mi	5/4.0 (-1)	3,132 (+3%)	22mo	$999,000	$319	65
694 Saint Anns Ave	0.26mi	5/3.5 (-1)	2,820 (-7%)	17mo	$975,000	$346	55
1046 Morris Ave	0.62mi	6/3.0	3,354 (+10%)	5mo	$1,130,000	$337	46
683 Eagle Ave	0.28mi	6/3.0	3,426 (+13%)	22mo	$800,000	$234	44
644 St Anns Ave	0.32mi	5/2.5 (-1)	2,700 (-11%)	15mo	$787,000	$291	43
1049 Trinity Ave	0.62mi	6/3.0	2,655 (-12%)	13mo	$700,000	$264	35

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

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.92×
• Total profit: $-30,228
• Equity at exit: $453,827

10-year hold

• IRR: 3.3%
• Equity multiple: 1.39×
• Total profit: $151,835
• Equity at exit: $584,871

Cash invested: $392,000 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $10,195 medium
• Mortgage (P&I): −$7,342
• Tax from tax record: −$581 /mo · $6,972/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,141
• Net cashflow: $-452

Break-even live

Break-even rent $10,767

Max offer price $1,320,153

Occupancy floor 99%

Sensitivity live

Price	-10% $341	-5% $-56	+0% $-452	+5% $-848	+10% $-1,245
Rent	-10% $-1,257	-5% $-855	+0% $-452	+5% $-49	+10% $353
Rate	-1.0pp $253	-0.5pp $-96	base $-452	+0.5pp $-815	+1.0pp $-1,184

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.3	$7,544
1× unit	1	1.3	$2,650
Total (3 units)			$10,195

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $1,400,000 Active 8 DOM
2. 2026-06-17
   days on market $1,400,000 Active 7 DOM
3. 2026-06-16
   days on market $1,400,000 Active 6 DOM
4. 2026-06-15
   days on market $1,400,000 Active 5 DOM
5. 2026-06-13
   remarks 482-char remark
6. 2026-06-13
   listed $1,400,000 Active 3 DOM

ⓘ 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: $6,972 · $581/mo
• Projected year-2 tax: $15,316 · $1,276/mo
• Expected delta: +$8,344/yr (+$695/mo · 119.7%)

ⓘ 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $122,340
• − Mortgage interest: −$78,422
• − Property taxes: −$6,972
• − Insurance: −$7,000
• − Repairs & maintenance: −$9,787
• − Management: −$9,787
• − Depreciation: −$40,727
• Taxable loss: −$30,355
• Est. tax savings @ 24.0%: +$7,285
• After-tax cash flow: $1,861/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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% Arabic 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

• 2026-06-08 Listed $1,400,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+17.8%/yr

Latest (2025): $6,972 · +6.0% YoY. Source: county tax records.