1802 Palisade Pl · New York, NY 10453

$1,100,000

8 bd · 4.0 ba · 3,528 sqft · MultiFamily public records · 276 Days on market

Built 1935 2,556 sqft lot Est $910k · 21% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.6/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• 1% rule +0.3/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Welcome to Palisade Pl. This is a newly completely renovated 2 family house in the Morris Heights section of the Bronx. When you enter on the 1st flr is a 3bdrm apt with 2 full bthrms, a laundry area and eat in kitchen with stainless steel appliances. 2nd flr is a 4bdrm apt and that also has 2 full bthrms, laundry area, and eat in kitchen with stainless steel appliances. Both units have marble counters, and hardwood flrs throughout. Nice open space on both units to entertain with family and friends. This house conveniently sits on a dead end street, and very close to bus transportation (bx 18, 40, & 42). If you drive no worries, you have I87 just minutes away. Across the street you ha

Key facts

• Hardwood flrs
• Marble counters
• Open space

Tags

• LAUNDRY AREA
• STAINLESS STEEL APPLIANCES
• MARBLE COUNTERS
• HARDWOOD FLRS
• OPEN SPACE
• DEAD END STREET

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Electric service: Con-Edison; Public sewer; Trash collection (public)
• Home design: Duplex
• Construction: Frame construction; Vinyl siding
• Exterior features: Patio; Near public transit; Near school; Not waterfront

Interior

• Kitchen: Eat-in kitchen; Granite counters; Open kitchen
• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Flooring: Hardwood floors
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; No central cooling
• Interior features: Eat-in kitchen; Granite counters; Open kitchen layout; Washer/dryer hookup; Finished full walk-out basement; Patio
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative. Per door: $-910/mo.
• To cash-flow at today's rent, offer at most $778k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $588k (46.5% below list).
• Recommended offer: $588k (46.5% below list) — sets the bar for 1% rule.
• Cap rate 4.3% 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.
• Market conditions: 34 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 $5,885/mo this rent would consume 213% of the median local household income ($33k/yr) (locally 10286% 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 $118k of equity ($8k loan paydown + $110k appreciation (10.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$189k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 276 days — a 12% lower offer ($968k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $155k; list at $1.10M implies a 610% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $588,500 (46.5% 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 276 days. Have you received any prior offers? Is the seller open to a 46% 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 1935 — 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. 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?
11. 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.
12. 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.
13. 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: 0.53% ✗
• Cap rate: 4.31%
• Cash-on-cash: -7.09%
• DSCR: 0.68
• GRM: 15.6

CMA / ARV

• ARV (on-the-fly): $910,224
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1873 Andrews Ave	0.21mi	7/2.0 (-1)	3,542 (+0%)	7mo	$775,000	$219	71
2117 Grand Ave	0.58mi	7/3.0 (-1)	3,564 (+1%)	3mo	$920,000	$258	59

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.57×
• Total profit: $482,530
• Equity at exit: $990,967

10-year hold

• IRR: 17.7%
• Equity multiple: 5.91×
• Total profit: $1,510,949
• Equity at exit: $2,137,058

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 10453

• Home prices YoY: 4.2%
• Active inventory: 34
• Price-to-rent: 31.2×

Monthly cashflow live

• Estimated rent: $5,885 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$243 /mo · $2,914/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,236
• Net cashflow: $-1,821

Break-even live

Break-even rent $8,189

Max offer price $778,392

Occupancy floor —

Sensitivity live

Price	-10% $-1,198	-5% $-1,509	+0% $-1,821	+5% $-2,132	+10% $-2,443
Rent	-10% $-2,285	-5% $-2,053	+0% $-1,821	+5% $-1,588	+10% $-1,356
Rate	-1.0pp $-1,267	-0.5pp $-1,541	base $-1,821	+0.5pp $-2,106	+1.0pp $-2,396

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$5,884
Total (2 units)			$5,885

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 7 events

1. 2025-08-23
   listed $1,100,000 Active
2. 2024-08-09
   historical
3. 2024-01-28
   price $1,100,000
4. 2024-01-05
   listed $1,300,000 Active
5. 2018-07-19
   historical
6. 2018-07-14
   listed $750,000 Active
7. 1996-11-14
   soldstatus $155,000

ⓘ 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: $2,914 · $243/mo
• Projected year-2 tax: $10,752 · $896/mo
• Expected delta: +$7,838/yr (+$653/mo · 269.0%)

ⓘ 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: $70,620
• − Mortgage interest: −$61,617
• − Property taxes: −$2,914
• − Insurance: −$5,500
• − Repairs & maintenance: −$5,650
• − Management: −$5,650
• − Depreciation: −$32,000
• Taxable loss: −$42,710
• Est. tax savings @ 24.0%: +$10,251
• After-tax cash flow: $-11,596/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): 76,282
• Household income: $33,186
• Rent vs Own: 95.2% rent · 4.8% own
• Severe rent burden: 10286.0

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 (67%)
• Race & ethnicity: Hispanic / Latino 67% Black 26% Two or more races 17% White 2% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 13% Dominican 41%
• Foreign-born: 44% · Canada, United Kingdom, Jamaica
• Languages at home: 32% English-only · Spanish 58% French/Haitian/Cajun 2% Other Indo-European 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: ▲ 14.52%
• Current HPI: 361.6961
• Rent YoY: —
• 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

+609.7% since first listed

7 events — show timeline

• 2025-08-23 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-01-28 Price Changed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-05 Listed $1,300,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-07-14 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 1996-11-14 Sold (Public Records) $155,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,914 · +1.0% YoY. Source: county tax records.