946 E 181st St · New York, NY 10460

$1,135,000

6 bd · 4.0 ba · 3,013 sqft · MultiFamily public records · 119 Days on market

Built 1997 266 sqft lot Est $1052k · 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).

• Appreciation +8.7/10.0
• Cash flow +7.9/30.0
• Schools +5.0/10.0
• ARV discount +3.9/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.5/10.0

Multi-family units

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

Listing remarks MLS

3 Family Beautifully maintained Brick home, with private parking and great back yard with green space on a tree lined street. Home boasts large 4 bedroom 2 bath duplex, 2 bedroom 1 bath unit & a spacious studio apartment with an alcove for more privacy. Hard wood floors throughout all of the 3 units & Plenty of closets and storage. Wether you want to occupy one unit and rent the others or use it as an investment property, it has amazing potential for income and building your real estate portfolio! Convenient to buses, trains, parks, schools, shopping and eateries. Short Distance to Bronx many landmarks such as Botanical Gardens, Bronx Zoo, Fordham University. Don't miss out, Schedule a Private Showing....You don't want to miss it, this one won't last.

Key facts

• Parking
• Built 1997
• Listed 119 days

Property features AI

Finance

• HOA & community: Community features include nearby park and sidewalks

Exterior

• Parking: One parking space; Driveway, on-street and private parking available
• Security: Fire alarm; Security gate; Smoke detectors; Window bars
• Utilities: Public sewer; Water connected; Electricity connected; Natural gas connected; Cable available; Phone available; Public trash collection
• Home design: Triplex; Updated/remodeled condition
• Construction: Brick construction; Concrete perimeter foundation
• Exterior features: Garden and landscaped yard; Outdoor lighting; Mailbox; Stone/brick wall; Back yard and front yard fencing; Fenced yard; Level lot; Near public transit, schools and shops; Not waterfront

Interior

• Kitchen: Breakfast bar (kitchen feature)
• Bedrooms: Contains units with 2-bedroom and 4-bedroom layouts
• Flooring: Wood flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: First-floor bedroom; Breakfast bar; Storm door(s); Covered patio/porch, deck and terrace
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $1.14M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-604/mo.
• To cash-flow at today's rent, offer at most $922k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $739k (34.9% below list).
• Recommended offer: $739k (34.9% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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.
• Zoned schools: Ps 214 (math 30% / reading 50%, grade F, #1,418 of 2,108 statewide, top 68%, 836 students, 92% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 78 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 $7,389/mo this rent would consume 244% of the median local household income ($36k/yr) (locally 7852% 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 $93k of equity ($8k loan paydown + $85k appreciation (7.5% 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 ~$148k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $850k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $738,900 (34.9% 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 119 days. Have you received any prior offers? Is the seller open to a 35% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.65% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.56%
• DSCR: 0.80
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $1,051,537
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
731 E 181 St	0.43mi	6/4.0	3,002 (-0%)	4mo	$1,127,000	$375	76
1852 Amethyst St	0.65mi	7/5.0 (+1)	2,954 (-2%)	2mo	$1,125,000	$381	55
879 Elsmere Pl	0.35mi	7/4.0 (+1)	2,700 (-10%)	8mo	$1,020,000	$378	55
704 E 182nd St	0.51mi	7/4.5 (+1)	3,045 (+1%)	18mo	$950,000	$312	52
818 E 179th St	0.31mi	5/4.0 (-1)	2,725 (-10%)	15mo	$950,000	$349	52
1620 Taylor Ave	0.70mi	6/3.0	2,805 (-7%)	1mo	$1,100,000	$392	51
798 Elsmere Pl	0.44mi	6/2.0	3,300 (+10%)	9mo	$830,000	$252	48
766 E 179 St	0.38mi	6/2.5	2,793 (-7%)	22mo	$850,000	$304	46
741 E 181st St	0.41mi	7/4.0 (+1)	2,625 (-13%)	11mo	$998,000	$380	45
532 Van Nest Ave	0.61mi	5/2.5 (-1)	2,938 (-2%)	18mo	$975,000	$332	41
2249 Hughes Ave	0.67mi	7/2.0 (+1)	3,300 (+10%)	4mo	$860,000	$261	37
705 E 183rd St	0.57mi	6/3.0	3,450 (+14%)	15mo	$850,000	$246	33

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

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 2.11×
• Total profit: $351,644
• Equity at exit: $821,236

10-year hold

• IRR: 15.0%
• Equity multiple: 4.39×
• Total profit: $1,076,583
• Equity at exit: $1,592,476

Cash invested: $317,800 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $7,389 medium
• Mortgage (P&I): −$5,952
• Tax from tax record: −$620 /mo · $7,445/yr
• Insurance: −$473
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,552
• Net cashflow: $-1,208

Break-even live

Break-even rent $8,918

Max offer price $921,590

Occupancy floor —

Sensitivity live

Price	-10% $-566	-5% $-887	+0% $-1,208	+5% $-1,529	+10% $-1,851
Rent	-10% $-1,792	-5% $-1,500	+0% $-1,208	+5% $-916	+10% $-624
Rate	-1.0pp $-636	-0.5pp $-919	base $-1,208	+0.5pp $-1,502	+1.0pp $-1,801

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$7,390
Total (2 units)			$7,389

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: $283,750
• Closing costs: $34,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   status $1,135,000 Pending 119 DOM
2. 2026-06-18
   days on market $1,135,000 Active 119 DOM
3. 2026-06-17
   days on market $1,135,000 Active 118 DOM
4. 2026-06-15
   days on market $1,135,000 Active 116 DOM
5. 2026-06-13
   days on market $1,135,000 Active 114 DOM
6. 2026-06-10
   days on market $1,135,000 Active 110 DOM
7. 2026-06-08
   days on market $1,135,000 Active 109 DOM
8. 2026-06-08
   days on market $1,135,000 Active 108 DOM
9. 2026-06-04
   days on market $1,135,000 Active 105 DOM
10. 2026-06-03
    days on market $1,135,000 Active 104 DOM
11. 2026-06-01
    days on market $1,135,000 Active 102 DOM
12. 2026-05-31
    pricedays on market $1,135,000 Active 101 DOM
13. 2026-02-20
    listed $1,150,000 Active
14. 2026-02-18
    historical $1,150,000
15. 2022-09-08
    soldstatus $850,000
16. 2022-08-12
    soldstatus $850,000 Closed 769-char remark

    Show marketing remark (769 chars)

    3 Family Beautifully maintained Brick home, with private parking and great back yard with green space on a tree lined street. Home boasts large 4 bedroom 2 bath duplex, 2 bedroom 1 bath unit & a spacious studio apartment with an alcove for more privacy. Hard wood floors throughout all of the 3 units & Plenty of closets and storage. Wether you want to occupy one unit and rent the others or use it as an investment property, it has amazing potential for income and building your real estate portfolio! Convenient to buses, trains, parks, schools, shopping and eateries. Short Distance to Bronx many landmarks such as Botanical Gardens, Bronx Zoo, Fordham University. Don't miss out, Schedule a Private Showing....You don't want to miss it, this one won't last.

17. 2022-07-05
    status Pending 769-char remark

    Show marketing remark (769 chars)

    3 Family Beautifully maintained Brick home, with private parking and great back yard with green space on a tree lined street. Home boasts large 4 bedroom 2 bath duplex, 2 bedroom 1 bath unit & a spacious studio apartment with an alcove for more privacy. Hard wood floors throughout all of the 3 units & Plenty of closets and storage. Wether you want to occupy one unit and rent the others or use it as an investment property, it has amazing potential for income and building your real estate portfolio! Convenient to buses, trains, parks, schools, shopping and eateries. Short Distance to Bronx many landmarks such as Botanical Gardens, Bronx Zoo, Fordham University. Don't miss out, Schedule a Private Showing....You don't want to miss it, this one won't last.

18. 2022-06-01
    listed $899,999 Active 769-char remark

    Show marketing remark (769 chars)

    3 Family Beautifully maintained Brick home, with private parking and great back yard with green space on a tree lined street. Home boasts large 4 bedroom 2 bath duplex, 2 bedroom 1 bath unit & a spacious studio apartment with an alcove for more privacy. Hard wood floors throughout all of the 3 units & Plenty of closets and storage. Wether you want to occupy one unit and rent the others or use it as an investment property, it has amazing potential for income and building your real estate portfolio! Convenient to buses, trains, parks, schools, shopping and eateries. Short Distance to Bronx many landmarks such as Botanical Gardens, Bronx Zoo, Fordham University. Don't miss out, Schedule a Private Showing....You don't want to miss it, this one won't last.

19. 2022-05-24
    historical $899,999 769-char remark

    Show marketing remark (769 chars)

    3 Family Beautifully maintained Brick home, with private parking and great back yard with green space on a tree lined street. Home boasts large 4 bedroom 2 bath duplex, 2 bedroom 1 bath unit & a spacious studio apartment with an alcove for more privacy. Hard wood floors throughout all of the 3 units & Plenty of closets and storage. Wether you want to occupy one unit and rent the others or use it as an investment property, it has amazing potential for income and building your real estate portfolio! Convenient to buses, trains, parks, schools, shopping and eateries. Short Distance to Bronx many landmarks such as Botanical Gardens, Bronx Zoo, Fordham University. Don't miss out, Schedule a Private Showing....You don't want to miss it, this one won't last.

20. 1999-04-13
    soldstatus $311,500

ⓘ 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: $7,445 · $620/mo
• Projected year-2 tax: $13,313 · $1,109/mo
• Expected delta: +$5,868/yr (+$489/mo · 78.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 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: $88,668
• − Mortgage interest: −$63,578
• − Property taxes: −$7,445
• − Insurance: −$5,675
• − Repairs & maintenance: −$7,093
• − Management: −$7,093
• − Depreciation: −$33,018
• Taxable loss: −$35,234
• Est. tax savings @ 24.0%: +$8,456
• After-tax cash flow: $-6,040/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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 (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% 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: ▲ 7.46%
• Current HPI: 224.0425
• 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

+269.2% since first listed

8 events — show timeline

• 2026-02-20 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Coming Soon $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2022-09-08 Sold (Public Records) $850,000 Public Records
• 2022-08-12 Sold (MLS) $850,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-06-01 Listed $899,999 OneKey® MLS as Distributed by MLS Grid
• 2022-05-24 Coming Soon $899,999 OneKey® MLS as Distributed by MLS Grid
• 1999-04-13 Sold (Public Records) $311,500 Public Records

Property tax history

+15.3%/yr

Latest (2025): $7,445 · +5.9% YoY. Source: county tax records.