880 Boynton Ave Unit 8M · New York, NY 10473

$199,900

1 bd · 1.0 ba · 750 sqft · Condo · 236 Days on market

Built 1962

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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).

• Cash flow +15.0/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Feel like you're living in a high rise Manhattan building without paying the Manhattan price tag! Make this beautifully renovated 1 bedroom, 1 bath Sponsor unit your home today! Beautifully updated kitchen featuring brand new cabinets, new countertops and new appliances. Dining area overlooks the terrace and adjacent living room. Plenty of closets throughout the apartment provide great storage opportunity. The bright, sunny master bedroom features a walk in closet, plus two more closets. Tasteful fixtures and new hardwood flooring throughout the apartment tie up the upgrades made to this unit. Nothing to do but move in! Laundry room in the building and 24 hour security No wait list for parking. Low monthly maintenance INCLUDES ALL UTILITIES. Close to transportation, shopping, schools and parks. Make an appointment to see this unit today! M&T Bank provides financing for this complex. NO BOARD APPROVAL REQUIRED. Income restrictions apply. Additional Information: HeatingFuel:Oil Below Ground,

Key facts

• Near shopping
• Private balcony
• Near parks

Tags

• PRIVATE BALCONY
• LARGE WALK-IN CLOSET
• ADDITIONAL CLOSETS
• NEAR SHOPPING
• NEAR TRANSPORTATION
• NEAR PARKS

Property features AI

Finance

• HOA & community: Has association (Lafayette Morisson HDFC); Association fee includes sewer, trash and water

Exterior

• Parking: Off-street parking
• Utilities: Electric service by Con-Edison; Public sewer; Cable available; Natural gas connected; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: Includes a bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; No central cooling
• Interior features: First-floor bedroom; 4 total rooms
• Laundry & utility: Pets allowed (case-by-case)

🏢 Co-op / cooperative unit. The $199,900 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 1-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $62 ($747/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: 141 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,597/mo this rent would consume 59% of the median local household income ($52k/yr) (locally 3913% 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 $1k of loan paydown is wiped out by about $6k 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 236 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $65k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.30% ✓
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 6.4

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-28,016
• Equity at exit: $29,806

10-year hold

• IRR: -4.8%
• Equity multiple: 0.69×
• Total profit: $-17,615
• Equity at exit: $17,284

Cash invested: $55,972 (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 10473

• Active inventory: 141
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,597 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA est. from 1 same-building comp: −$608
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $62

Break-even live

Break-even rent $2,518

Max offer price $199,900

Occupancy floor 93%

Sensitivity live

Price	-10% $200	-5% $131	+0% $62	+5% $-7	+10% $-76
Rent	-10% $-143	-5% $-40	+0% $62	+5% $165	+10% $267
Rate	-1.0pp $163	-0.5pp $113	base $62	+0.5pp $10	+1.0pp $-42

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 32 events

1. 2026-06-17
   status $199,900 Pending 236 DOM
2. 2026-06-17
   days on market $199,900 Active 236 DOM
3. 2026-06-15
   days on market $199,900 Active 234 DOM
4. 2026-06-13
   days on market $199,900 Active 232 DOM
5. 2026-06-10
   days on market $199,900 Active 228 DOM
6. 2026-06-08
   days on market $199,900 Active 227 DOM
7. 2026-06-04
   days on market $199,900 Active 223 DOM
8. 2026-06-03
   days on market $199,900 Active 222 DOM
9. 2026-06-01
   days on market $199,900 Active 220 DOM
10. 2026-05-31
    days on market $199,900 Active 219 DOM
11. 2026-04-17
    price $199,900
12. 2026-04-13
    status Active
13. 2026-04-01
    historical
14. 2026-03-17
    price $209,900
15. 2026-02-26
    price $229,000
16. 2026-01-30
    price $237,000
17. 2026-01-11
    status Active
18. 2026-01-08
    historical
19. 2025-12-15
    price $244,000
20. 2025-11-06
    price $254,900
21. 2025-10-09
    listed $264,900 Active
22. 2024-01-03
    listed $220,000 Active
23. 2021-12-09
    soldstatus $228,000 Closed 1008-char remark

    Show marketing remark (1008 chars)

    Feel like you're living in a high rise Manhattan building without paying the Manhattan price tag! Make this beautifully renovated 1 bedroom, 1 bath Sponsor unit your home today! Beautifully updated kitchen featuring brand new cabinets, new countertops and new appliances. Dining area overlooks the terrace and adjacent living room. Plenty of closets throughout the apartment provide great storage opportunity. The bright, sunny master bedroom features a walk in closet, plus two more closets. Tasteful fixtures and new hardwood flooring throughout the apartment tie up the upgrades made to this unit. Nothing to do but move in! Laundry room in the building and 24 hour security No wait list for parking. Low monthly maintenance INCLUDES ALL UTILITIES. Close to transportation, shopping, schools and parks. Make an appointment to see this unit today! M&T Bank provides financing for this complex. NO BOARD APPROVAL REQUIRED. Income restrictions apply. Additional Information: HeatingFuel:Oil Below Ground,

24. 2021-05-14
    status Pending 1008-char remark

    Show marketing remark (1008 chars)

    Feel like you're living in a high rise Manhattan building without paying the Manhattan price tag! Make this beautifully renovated 1 bedroom, 1 bath Sponsor unit your home today! Beautifully updated kitchen featuring brand new cabinets, new countertops and new appliances. Dining area overlooks the terrace and adjacent living room. Plenty of closets throughout the apartment provide great storage opportunity. The bright, sunny master bedroom features a walk in closet, plus two more closets. Tasteful fixtures and new hardwood flooring throughout the apartment tie up the upgrades made to this unit. Nothing to do but move in! Laundry room in the building and 24 hour security No wait list for parking. Low monthly maintenance INCLUDES ALL UTILITIES. Close to transportation, shopping, schools and parks. Make an appointment to see this unit today! M&T Bank provides financing for this complex. NO BOARD APPROVAL REQUIRED. Income restrictions apply. Additional Information: HeatingFuel:Oil Below Ground,

25. 2021-05-04
    listed $228,000 Active 1008-char remark

    Show marketing remark (1008 chars)

    Feel like you're living in a high rise Manhattan building without paying the Manhattan price tag! Make this beautifully renovated 1 bedroom, 1 bath Sponsor unit your home today! Beautifully updated kitchen featuring brand new cabinets, new countertops and new appliances. Dining area overlooks the terrace and adjacent living room. Plenty of closets throughout the apartment provide great storage opportunity. The bright, sunny master bedroom features a walk in closet, plus two more closets. Tasteful fixtures and new hardwood flooring throughout the apartment tie up the upgrades made to this unit. Nothing to do but move in! Laundry room in the building and 24 hour security No wait list for parking. Low monthly maintenance INCLUDES ALL UTILITIES. Close to transportation, shopping, schools and parks. Make an appointment to see this unit today! M&T Bank provides financing for this complex. NO BOARD APPROVAL REQUIRED. Income restrictions apply. Additional Information: HeatingFuel:Oil Below Ground,

26. 2021-05-01
    historical
27. 2021-04-30
    status Active
28. 2021-04-30
    price $228,000
29. 2021-03-09
    status Pending
30. 2020-09-29
    listed $215,000 Active
31. 2013-11-06
    soldstatus $12,305,350
32. 2013-03-20
    soldstatus $31,750,000

ⓘ 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,165
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,493
• − Management: −$2,493
• − HOA: −$7,296
• − Depreciation: −$5,815
• Taxable loss: −$2,128
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $1,258/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): 58,855
• Household income: $52,462
• Rent vs Own: 71.4% rent · 28.6% own
• Severe rent burden: 3913.0

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: Majority Hispanic (59%)
• Race & ethnicity: Hispanic / Latino 59% Black 34% Two or more races 12% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 31% Dominican 20%
• Common ancestry: British 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 45% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -212.70%
• Current HPI: 276.2941
• 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

-99.4% since first listed

22 events — show timeline

• 2026-04-17 Price Changed $199,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $209,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $237,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $244,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $254,900 OneKey® MLS as Distributed by MLS Grid
• 2025-10-09 Listed $264,900 OneKey® MLS as Distributed by MLS Grid
• 2024-01-03 Listed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-09 Sold (MLS) $228,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-05-04 Listed $228,000 OneKey® MLS as Distributed by MLS Grid
• 2021-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-04-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-04-30 Price Changed $228,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-09-29 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2013-11-06 Sold (Public Records) $12,305,350 Public Records
• 2013-03-20 Sold (Public Records) $31,750,000 Public Records