3933 Carpenter Ave · New York, NY 10466

$2,999,000

None bd · None ba · 6,470 sqft · MultiFamily public records · 10 Days on market

Built 2012 2,683 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

3933-3935 Carpenter Ave, Both buildings are being sold together at this incredible price. Each building has 10 apartments. In total, 20 apartments, an excellent investment opportunity, and a rare chance to acquire a high-income-producing multifamily property with significant upside potential!!! Well-maintained. The property is located close to main roads, with easy access to local amenities such as a school, shopping, a bank, and various eateries. Near a 2-train Subway station, those buildings have tremendous upside in rental income and long-term appreciation. Don't miss this opportunity to own a high-potential asset in the Bronx.

Key facts

• Near subway station
• Multifamily property
• 2,683 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• HIGH INCOME PRODUCING
• MULTIFAMILY PROPERTY
• EASY ACCESS TO LOCAL AMENITIES
• NEAR SUBWAY STATION
• LONG TERM APPRECIATION

Property features AI

Exterior

• Parking: No designated parking; No carport
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Heating & cooling: Natural gas heating; Other heating; Wall/Window cooling units
• Interior features: Finished basement; Other interior features

What this means for you Summary

Snapshot

• This is a multifamily listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $15k ($181k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($45k rent vs $3.00M).
• Cap rate 12.3% 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: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $45,278/mo this rent would consume 824% 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 $21k of loan paydown is wiped out by about $90k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $840k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

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 $2,999,000

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: 1.51% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.50%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.1%
• Equity multiple: 1.56×
• Total profit: $472,890
• Equity at exit: $447,161

10-year hold

• IRR: 22.9%
• Equity multiple: 2.96×
• Total profit: $1,648,361
• Equity at exit: $259,299

Cash invested: $839,720 (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: 110.4×

Monthly cashflow live

• Estimated rent: $45,278 medium
• Mortgage (P&I): −$15,727
• Tax est. 1.5%: −$3,749 /mo · $44,985/yr
• Insurance: −$1,250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,508
• Net cashflow: $15,044

Break-even live

Break-even rent $26,235

Max offer price $2,999,000

Occupancy floor 62%

Sensitivity live

Price	-10% $17,117	-5% $16,080	+0% $15,044	+5% $14,008	+10% $12,972
Rent	-10% $11,467	-5% $13,256	+0% $15,044	+5% $16,833	+10% $18,621
Rate	-1.0pp $16,554	-0.5pp $15,807	base $15,044	+0.5pp $14,267	+1.0pp $13,477

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

Units	Beds	Baths	Est. rent
▸ 20× units	2	1	$45,280
Total (20 units)			$45,278

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: $749,750
• Closing costs: $89,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3294 Hull Ave Unit 3 Bronx, NY	3.0	1.0	5040	$3,700	$0.73	0d	1	0.95mi

Listing history 6 events

1. 2026-06-04
   days on market $2,999,000 Active 10 DOM
2. 2026-06-03
   days on market $2,999,000 Active 9 DOM
3. 2026-06-02
   days on market $2,999,000 Active 8 DOM
4. 2026-06-01
   days on market $2,999,000 Active 7 DOM
5. 2026-05-31
   days on market $2,999,000 Active 6 DOM
6. 2026-05-25
   listed $2,999,000 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 · 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: $543,336
• − Mortgage interest: −$167,991
• − Property taxes: −$44,985
• − Insurance: −$14,995
• − Repairs & maintenance: −$43,467
• − Management: −$43,467
• − Depreciation: −$87,244
• Taxable income: $141,188
• Est. tax owed @ 24.0%: −$33,885
• After-tax cash flow: $146,645/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

1 event — show timeline

• 2026-05-25 Listed $2,999,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-3.7%/yr

Latest (2025): $1,204 · -0.0% YoY. Source: county tax records.