8 Fordham Hill Oval Unit 1B · New York, NY 10468

$255,500

2 bd · 1.0 ba · 0 sqft · Condo public records · 648 Days on market

Built 1950

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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 +2.5/5.0

Listing remarks

Welcome to this beautiful spacious 2 bedroom at Fordham hill oval gated community nestled in the University Height. This home has been totally renovated from top to bottom with modern features. Apartment includes high ceilings, BELLAWOOD natural oak flooring throughout, new Hunter Douglas "palm beach" with polysatin shuttering all windows. Kitchen has beautiful cabinetry, Corian counters and breakfast bar. New matte finish GE appliances and 2 pantry closets for extra storage space. Both bedrooms are spacious enough for a king size bed plus furnishings and Custom radiator covers. Unlike most buildings, the maintenance includes all utilities, taxes, insurance and its 45% tax deducti

Key facts

• Garage
• Built 1950
• Listed 648 days

Property features AI

Finance

• HOA & community: Association: first service; Building amenities include elevator(s) and a park; Association fee includes cable TV, electricity, gas, heat, hot water, sewer, and water

Exterior

• Parking: Garage; Off-street parking
• Utilities: Public sewer; Public trash collection
• Home design: Stock cooperative; First floor unit
• Construction: Brick construction
• Exterior features: Near public transit; Near school; Not waterfront

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 4 rooms total (includes bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (oil); Wall/window air conditioning unit(s)
• Interior features: Ceiling fan(s); Blinds; Intercom
• Laundry & utility: Oil water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $256k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $256k).
• Recommended offer: $225k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,795/mo this rent would consume 99% 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 $3k of equity ($2k 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.
• At projected returns (0.5% appreciation + 6.7% rent growth), your $72k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 648 days — a 12% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $24k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: 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 $224,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 648 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 5.6

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: 24.9%
• Equity multiple: 2.28×
• Total profit: $91,859
• Equity at exit: $80,689

10-year hold

• IRR: 30.4%
• Equity multiple: 5.01×
• Total profit: $286,791
• Equity at exit: $102,344

Cash invested: $71,540 (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: 5.6×

Monthly cashflow live

• Estimated rent: $3,795 high
• Mortgage (P&I): −$1,340
• Tax est. 1.5%: −$319 /mo · $3,832/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$797
• Net cashflow: $1,233

Break-even live

Break-even rent $2,235

Max offer price $255,500

Occupancy floor 63%

Sensitivity live

Price	-10% $1,409	-5% $1,321	+0% $1,233	+5% $1,144	+10% $1,056
Rent	-10% $933	-5% $1,083	+0% $1,233	+5% $1,383	+10% $1,533
Rate	-1.0pp $1,361	-0.5pp $1,298	base $1,233	+0.5pp $1,167	+1.0pp $1,099

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: $63,875
• Closing costs: $7,665
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	26d	1	0.50mi
407 W 206th St New York, NY	1.0–2.0	1.0–2.0	—	$4,800	—	3d	2	0.51mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	24d	3	1.08mi
2423 Cambreleng Ave Unit 1A-4 Bronx, NY	1.0	2.0	—	$1,550	—	20d	1	1.35mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.46mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	26d	1	1.46mi

HOA detail condo

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

Listing history 34 events

1. 2026-06-21
   days on market $255,500 Active 648 DOM
2. 2026-06-18
   days on market $255,500 Active 645 DOM
3. 2026-06-17
   days on market $255,500 Active 644 DOM
4. 2026-06-15
   days on market $255,500 Active 642 DOM
5. 2026-06-13
   days on market $255,500 Active 640 DOM
6. 2026-06-10
   days on market $255,500 Active 636 DOM
7. 2026-06-08
   days on market $255,500 Active 635 DOM
8. 2026-06-03
   days on market $255,500 Active 630 DOM
9. 2026-06-01
   days on market $255,500 Active 628 DOM
10. 2026-05-31
    days on market $255,500 Active 627 DOM
11. 2026-05-06
    price $255,500
12. 2026-05-06
    price $250,500
13. 2026-05-01
    status Active
14. 2026-05-01
    historical
15. 2026-01-06
    price $255,500
16. 2025-11-23
    price $263,000
17. 2025-10-27
    price $265,500
18. 2025-07-19
    price $268,500
19. 2025-06-15
    status Active
20. 2025-01-23
    status Pending
21. 2024-10-21
    status Active
22. 2024-10-20
    historical
23. 2024-07-12
    price $270,000
24. 2024-07-11
    price $273,000
25. 2024-06-19
    price $275,000
26. 2024-04-20
    listed $280,000 Active
27. 2022-09-08
    listed $299,000 Active
28. 2022-09-08
    listed $299,000 Active
29. 2018-09-07
    soldstatus $235,000 Sold
30. 2018-07-05
    historical Pending
31. 2018-05-22
    listed $230,000 Active
32. 2018-05-09
    historical
33. 2018-04-05
    price $230,000
34. 2018-02-15
    listed $244,999 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: $45,546
• − Mortgage interest: −$14,312
• − Property taxes: −$3,832
• − Insurance: −$1,278
• − Repairs & maintenance: −$3,644
• − Management: −$3,644
• − Depreciation: −$7,433
• Taxable income: $11,404
• Est. tax owed @ 24.0%: −$2,737
• After-tax cash flow: $12,056/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): 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

+4.3% since first listed

24 events — show timeline

• 2026-05-06 Price Changed $255,500 OneKey® MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $250,500 OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $255,500 OneKey® MLS as Distributed by MLS Grid
• 2025-11-23 Price Changed $263,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-27 Price Changed $265,500 OneKey® MLS as Distributed by MLS Grid
• 2025-07-19 Price Changed $268,500 OneKey® MLS as Distributed by MLS Grid
• 2025-06-15 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-10-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-12 Price Changed $270,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-11 Price Changed $273,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-19 Price Changed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-20 Listed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2022-09-08 Listed $299,000 RLS at REBNY
• 2022-09-08 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2018-09-07 Sold (MLS) $235,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-05 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-05-22 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2018-05-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-04-05 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2018-02-15 Listed $244,999 OneKey® MLS as Distributed by MLS Grid