748 E 227th St · New York, NY 10466

$1,000,000

9 bd · 1.0 ba · 3,600 sqft · MultiFamily public records · 15 Days on market

Built 2012 3,449 sqft lot Est $1084k · 8% 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).

• Cash flow +19.2/30.0
• ARV discount +11.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

Key facts

• 3,449 sq ft lot
• Built 2012
• Listed 14 days

Property features AI

Finance

• Financial info: Tax year 2025 (amounts excluded per instructions)

Exterior

• Parking: No carport; No designated parking features
• Utilities: Public sewer; No other utilities listed
• Home design: Manufactured home; Triple wide
• Construction: Brick construction
• Exterior features: Not waterfront

Interior

• Kitchen: No listed appliances
• Bedrooms: 15 total rooms (bedrooms/rooms count included in total rooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: No central cooling; No listed heating (other heating indicated)
• Interior features: Other interior features; Full basement
• Laundry & utility: No listed laundry appliances

What this means for you Summary

Snapshot

• This is a 9-bed/1.0-bath multifamily listed at $1.00M.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $1.00M).
• Recommended offer: $985k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: 161 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $10,121/mo this rent would consume 184% of the median local household income ($66k/yr) (locally 4791% 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 $7k of loan paydown is wiped out by about $30k 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 15 days — a 2% lower offer ($985k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $334k; list at $1.00M implies a 199% gain — meaningful room to come down on a strong offer.

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 $985,000 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $1,083,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 E 221st St	0.32mi	8/5.0 (-1)	3,799 (+6%)	2mo	$1,080,470	$284	54
822 E 215th St	0.64mi	8/3.0 (-1)	3,420 (-5%)	1mo	$1,190,000	$348	48
823 E 218th St	0.46mi	8/6.0 (-1)	3,765 (+5%)	9mo	$750,000	$199	44
4239 Digney Ave	0.51mi	8/5.0 (-1)	3,500 (-3%)	12mo	$1,473,500	$421	41
675 E 231st St	0.28mi	8/5.0 (-1)	3,240 (-10%)	15mo	$975,000	$301	38
855 E 223rd St	0.26mi	8/5.0 (-1)	3,252 (-10%)	22mo	$960,000	$295	34
725 E 216th St	0.55mi	8/6.0 (-1)	3,330 (-8%)	21mo	$980,000	$294	24
709 East 213th St	0.73mi	8/3.0 (-1)	3,120 (-13%)	14mo	$1,040,000	$333	19

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-92,798
• Equity at exit: $149,103

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $8,781
• Equity at exit: $86,462

Cash invested: $280,000 (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 10466

• Active inventory: 161
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $10,121 high
• Mortgage (P&I): −$5,244
• Tax est. 1.5%: −$1,250 /mo · $15,000/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,125
• Net cashflow: $1,085

Break-even live

Break-even rent $8,748

Max offer price $1,000,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$10,122
Total (3 units)			$10,121

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-13
   listed $1,000,000 Active
2. 2014-03-15
   price $335,000 265-char remark

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

3. 2010-12-13
   historical 265-char remark

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

4. 2010-12-13
   soldstatus $334,250

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

5. 2010-12-09
   soldstatus $335,000 265-char remark

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

6. 2010-09-10
   price $390,000 265-char remark

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

7. 2010-09-10
   historical

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

8. 2009-09-19
   listed $390,000 265-char remark

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

9. 2009-09-19
   listed

   Show marketing remark (265 chars)

   Single Family with extra lot for sale in Bronx ny . Build two new multi family or keep this single family with large back and side yard. This home is in a multi family zoning, Investor and contractor take notice the Lot size is 50X114. The Single family Needs TLC

ⓘ 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: $121,452
• − Mortgage interest: −$56,016
• − Property taxes: −$15,000
• − Insurance: −$5,000
• − Repairs & maintenance: −$9,716
• − Management: −$9,716
• − Depreciation: −$29,091
• Taxable loss: −$3,087
• Est. tax savings @ 24.0%: +$741
• After-tax cash flow: $13,759/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): 71,116
• Household income: $65,969
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 4791.0

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 0.55)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 7% White 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 12%
• Common ancestry: Hispanic 1%
• Foreign-born: 42% · Canada, Jamaica, United Kingdom
• Languages at home: 67% English-only · Spanish 22% French/Haitian/Cajun 1% 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: ▼ -314.77%
• Current HPI: 349.542
• 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

+156.4% since first listed

9 events — show timeline

• 2026-05-13 Listed $1,000,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $335,000 HGMLS
• 2010-12-13 Sold (Public Records) $334,250 Public Records
• 2010-12-13 Delisted — HGMLS
• 2010-12-09 Sold (MLS) $335,000 HGMLS
• 2010-09-10 Delisted — HGMLS
• 2010-09-10 Price Changed $390,000 HGMLS
• 2009-09-19 Listed — HGMLS
• 2009-09-19 Listed $390,000 HGMLS

Property tax history

+3.2%/yr

Latest (2025): $1,770 · +73.7% YoY. Source: county tax records.