604 Logan Ave · New York, NY 10465

$1,099,999

5 bd · None ba · 2,815 sqft · MultiFamily public records · 41 Days on market

Built 1960 3,050 sqft lot Est $1019k · 8% over

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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 +11.3/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• ARV discount +3.9/15.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Large VACANT BRICK semi detached multi family home in Throggs Neck. House features a 3 bedroom over a 2 bedroom over a finished basement plus laundry and storage. Hardwood floors, patio, garage and nice sized yard, gas heating. Close to buses, shops and highways.

Key facts

• 3,050 sq ft lot
• Garage
• Built 1960

Property features AI

Exterior

• Parking: Three total parking spaces; Driveway; Garage with 1 garage space
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Heating & cooling: Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: Finished basement; Other interior features

What this means for you Summary

Snapshot

• This is a 5-bed/?-bath multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-397 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.03M (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $818k (25.6% below list).
• Recommended offer: $818k (25.6% 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 fast (+10.7%/yr); 215 active listings in the ZIP; solid renter incomes; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $8,183/mo this rent would consume 112% of the median local household income ($88k/yr) (locally 2294% 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 $8k of loan paydown is wiped out by about $33k 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 41 days — a 3% lower offer ($1.07M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $818,300 (25.6% 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 41 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.74% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.55%
• DSCR: 0.93
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $1,019,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
631 Hollywood Ave	0.06mi	6/2.0 (+1)	2,820 (+0%)	4mo	$935,000	$332	89
2887 Lamport Pl	0.16mi	5/2.0	2,926 (+4%)	2mo	$750,000	$256	85
525 Hollywood Ave	0.13mi	5/2.0	2,750 (-2%)	7mo	$999,999	$364	84
1321 Shore Dr	0.38mi	6/4.0 (+1)	3,065 (+9%)	1mo	$1,700,000	$555	62
3950 Throggs Neck Expy	0.48mi	6/4.0 (+1)	2,964 (+5%)	5mo	$923,650	$312	60
259 Kearney Ave	0.54mi	4/4.0 (-1)	2,914 (+4%)	7mo	$1,055,000	$362	59
3021 Barkley Ave	0.56mi	5/2.0	2,558 (-9%)	7mo	$875,000	$342	53
901 Dean Ave	0.54mi	6/5.0 (+1)	2,583 (-8%)	7mo	$1,135,000	$439	50
250 Kearney Ave	0.56mi	4/— (-1)	2,477 (-12%)	8mo	$910,000	$367	42
248 Kearney Ave	0.56mi	4/3.0 (-1)	2,477 (-12%)	9mo	$780,000	$315	41
258A Longstreet Ave	0.70mi	6/4.0 (+1)	2,458 (-13%)	1mo	$1,070,000	$435	40
2812 Harding Ave	0.71mi	4/3.0 (-1)	2,500 (-11%)	9mo	$895,000	$358	36

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: -14.0%
• Equity multiple: 0.48×
• Total profit: $-160,629
• Equity at exit: $164,013

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $23,036
• Equity at exit: $95,108

Cash invested: $308,000 (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 10465

• Rents YoY: 10.7%
• Active inventory: 215
• Price-to-rent: 30.4×

Monthly cashflow live

• Estimated rent: $8,183 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$635 /mo · $7,619/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,718
• Net cashflow: $-397

Break-even live

Break-even rent $8,686

Max offer price $1,029,838

Occupancy floor 100%

Sensitivity live

Price	-10% $226	-5% $-86	+0% $-397	+5% $-709	+10% $-1,020
Rent	-10% $-1,044	-5% $-720	+0% $-397	+5% $-74	+10% $249
Rate	-1.0pp $157	-0.5pp $-117	base $-397	+0.5pp $-682	+1.0pp $-972

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,015
1× unit	2	1	$2,650
1× unit	1	1	$2,518
Total (3 units)			$8,183

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-17
   status $1,099,999 Pending 41 DOM
2. 2026-06-16
   days on market $1,099,999 Active 41 DOM
3. 2026-06-15
   days on market $1,099,999 Active 40 DOM
4. 2026-06-13
   days on market $1,099,999 Active 38 DOM
5. 2026-06-10
   days on market $1,099,999 Active 34 DOM
6. 2026-06-08
   days on market $1,099,999 Active 33 DOM
7. 2026-06-08
   days on market $1,099,999 Active 32 DOM
8. 2026-06-04
   days on market $1,099,999 Active 29 DOM
9. 2026-06-03
   days on market $1,099,999 Active 28 DOM
10. 2026-06-01
    days on market $1,099,999 Active 26 DOM
11. 2026-05-31
    days on market $1,099,999 Active 25 DOM
12. 2026-05-06
    listed $1,099,999 Active

ⓘ 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: $7,619 · $635/mo
• Projected year-2 tax: $13,104 · $1,092/mo
• Expected delta: +$5,486/yr (+$457/mo · 72.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $98,196
• − Mortgage interest: −$61,617
• − Property taxes: −$7,619
• − Insurance: −$5,500
• − Repairs & maintenance: −$7,856
• − Management: −$7,856
• − Depreciation: −$32,000
• Taxable loss: −$24,251
• Est. tax savings @ 24.0%: +$5,820
• After-tax cash flow: $1,054/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): 45,404
• Household income: $87,985
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 2294.0

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 46% White 35% Two or more races 15% Black 10% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 24% Dominican 12%
• Common ancestry: Lithuanian 1% Hispanic 1% Romanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 57% English-only · Spanish 32% Other Indo-European 7% Chinese 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: ▼ -283.74%
• Current HPI: 270.517
• Rent YoY: ▲ 10.74%
• 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

• 2026-05-06 Listed $1,099,999 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $7,619 · +6.6% YoY. Source: county tax records.