2 Fordham Hill Oval Unit Unit 9G · New York, NY 10468

$199,990

2 bd · 1.0 ba · 950 sqft · Condo · 45 Days on market

Built 1950 Good condition

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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).

• 1% rule +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• DSCR +2.2/10.0

Listing remarks

Welcome to Fordham Hill Oval! This spacious 2-bedroom, 1-bath co-op apartment offers a comfortable layout with great natural light, generous closet space, and plenty of potential to make it your own. The living and dining area provides an inviting space for everyday living and entertaining, while the two well-proportioned bedrooms offer flexibility for a primary bedroom, guest room, home office, or additional living space. Located in the sought-after Fordham Hill Oval community, residents enjoy a well-maintained gated complex with beautifully landscaped grounds, on-site security, laundry facilities, playgrounds, and convenient access to public transportation -- Metro-North, NYC Subway -- #s

Key facts

• On-site security
• Laundry facilities
• Natural light

Tags

• NATURAL LIGHT
• GENEROUS CLOSET SPACE
• WELL-MAINTAINED GATED COMPLEX
• BEAUTIFULLY LANDSCAPED GROUNDS
• ON-SITE SECURITY
• LAUNDRY FACILITIES

Property features AI

Finance

• HOA & community: Association: Fordham Hill Oval Corp.; Building amenities include elevators, gated access, landscaping, maintenance (grounds and exterior), playground, security, snow removal, and trash service; Association fees cover utilities, cable TV, common area maintenance, electricity, exterior maintenance, gas, grounds care, heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: On-street parking
• Security: Gated community
• Utilities: Con Edison electric service; Public sewer; Electricity connected; Water connected; Sewer connected; Trash collection (private)
• Home design: Stock cooperative; One level entry; Located on 6th floor or higher; 12-story building
• Construction: Brick construction; Actual property condition
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 4 rooms total (includes bedrooms and living areas)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air conditioning units
• Interior features: Common-area laundry; Hardwood floors; Other interior features
• Laundry & utility: Common-area laundry

🏢 Co-op / cooperative unit. The $199,990 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.2% 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 (+6.7%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,029/mo this rent would consume 105% of the median local household income ($46k/yr) (locally 9659% 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 $2k of equity ($1k loan paydown + $1k appreciation (0.5% local appreciation)).
• 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 45 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,990 (3.0% 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 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
10. 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.
11. 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.
12. 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: 2.01% ✓
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.5% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.07×
• Total profit: $3,715
• Equity at exit: $63,159

10-year hold

• IRR: 11.8%
• Equity multiple: 2.67×
• Total profit: $93,572
• Equity at exit: $80,109

Cash invested: $55,997 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $4,029 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA est. from 1 same-building comp: −$1,990
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $-189

Break-even live

Break-even rent $4,268

Max offer price $172,598

Occupancy floor 100%

Sensitivity live

Price	-10% $-51	-5% $-120	+0% $-189	+5% $-258	+10% $-328
Rent	-10% $-508	-5% $-348	+0% $-189	+5% $-30	+10% $129
Rate	-1.0pp $-89	-0.5pp $-138	base $-189	+0.5pp $-241	+1.0pp $-294

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	0.52mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	23d	3	1.02mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.50mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $199,990 Active 45 DOM
2. 2026-06-18
   days on market $199,990 Active 42 DOM
3. 2026-06-17
   days on market $199,990 Active 41 DOM
4. 2026-06-16
   days on market $199,990 Active 40 DOM
5. 2026-06-15
   price $199,990 Active 39 DOM
6. 2026-06-15
   days on market $220,000 Active 39 DOM
7. 2026-06-13
   days on market $220,000 Active 37 DOM
8. 2026-06-10
   days on market $220,000 Active 33 DOM
9. 2026-06-08
   days on market $220,000 Active 32 DOM
10. 2026-06-08
    days on market $220,000 Active 31 DOM
11. 2026-06-04
    days on market $220,000 Active 28 DOM
12. 2026-06-03
    days on market $220,000 Active 27 DOM
13. 2026-06-01
    days on market $220,000 Active 25 DOM
14. 2026-05-31
    days on market $220,000 Active 24 DOM
15. 2026-05-07
    listed $266,000 Active

ⓘ 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 · 14 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: $48,346
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,868
• − Management: −$3,868
• − HOA: −$23,880
• − Depreciation: −$5,818
• Taxable loss: −$4,290
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $-1,242/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This spacious 2-bedroom co-op apartment in Fordham Hill Oval offers a good condition with potential for cosmetic updates to enhance its resale and rental value.

Repairs flagged

• Minor tile backsplash — dated and could be replaced
• Minor cabinetry — could be updated

Value-add opportunities

• Resale new backsplash — enhances kitchen appeal
• Resale new cabinetry — modernizes kitchen
• Both landscaping — enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
tile backsplash · dated and could be replaced	Minor	$500–3,000
cabinetry · could be updated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale new backsplash — enhances kitchen appeal ↑
• Resale new cabinetry — modernizes kitchen ↑
• Both landscaping — enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 75,557
• Household income: $46,233
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 9659.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Black 17% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 11% Dominican 45%
• Common ancestry: Hispanic 1%
• Foreign-born: 46% · Canada, Vietnam, Jamaica
• Languages at home: 22% English-only · Spanish 69% 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: ▲ 0.50%
• Current HPI: 249.8923
• Rent YoY: ▲ 6.70%
• 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

• 2026-05-07 Listed $266,000 OneKey® MLS as Distributed by MLS Grid