829 Jennings St · New York, NY 10459

$599,000

6 bd · 4.0 ba · 1,428 sqft · MultiFamily public records · 138 Days on market

Built 1901 1,667 sqft lot Est $818k · 27% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• 1% rule +7.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Discover this well-maintained three-bedroom, two-bathroom two family located in the heart of the Bronx at 829 Jennings Street. Built in 1901, this 1,428-square-foot urban residence combines historic character with functional modern updates, offering an attractive option for buyers seeking solid bones and recent improvements. The home features a clean, minimalist interior with wooden flooring throughout and abundant natural light from multiple windows. The kitchen stands out with granite countertops, light-colored wood cabinetry, stainless steel appliances, and a gas range—recent upgrades that reflect owner care and attention to detail. Two full bathrooms provide convenience for a hous

Key facts

• Flexible space
• Granite countertops
• Gas range

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• GAS RANGE
• CARPETED STAIRCASE
• FLEXIBLE SPACE
• WHITE SIDED FAÇADE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Duplex / townhouse; Frame construction
• Construction: Frame construction; Full unfinished basement with walk-out access and storage space
• Exterior features: Awning(s); No waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Radiant heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Entrance foyer; Awning(s)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $599k).
• Recommended offer: $527k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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: 38 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $44k of equity ($4k loan paydown + $40k appreciation (6.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $100k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $207k; list at $599k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• 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 $527,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.27% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.27%
• DSCR: 1.77
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $818,244
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
837 Jennings St	0.01mi	5/2.0 (-1)	1,528 (+7%)	2mo	$735,000	$481	73
1239 Evergreen Ave	0.70mi	5/2.0 (-1)	1,440 (+1%)	15mo	$825,000	$573	40

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

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.09×
• Total profit: $350,166
• Equity at exit: $401,812

10-year hold

• IRR: 28.4%
• Equity multiple: 6.39×
• Total profit: $903,894
• Equity at exit: $751,529

Cash invested: $167,720 (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 10459

• Home prices YoY: 2.5%
• Active inventory: 38
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $7,600 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$200 /mo · $2,399/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,596
• Net cashflow: $2,413

Break-even live

Break-even rent $4,545

Max offer price $599,000

Occupancy floor 63%

Sensitivity live

Price	-10% $2,752	-5% $2,583	+0% $2,413	+5% $2,244	+10% $2,074
Rent	-10% $1,813	-5% $2,113	+0% $2,413	+5% $2,713	+10% $3,014
Rate	-1.0pp $2,715	-0.5pp $2,566	base $2,413	+0.5pp $2,258	+1.0pp $2,100

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$7,600
Total (2 units)			$7,600

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $599,000 Active 138 DOM
2. 2026-06-18
   days on market $599,000 Active 135 DOM
3. 2026-06-17
   days on market $599,000 Active 134 DOM
4. 2026-06-15
   days on market $599,000 Active 132 DOM
5. 2026-06-13
   days on market $599,000 Active 130 DOM
6. 2026-06-10
   days on market $599,000 Active 126 DOM
7. 2026-06-08
   days on market $599,000 Active 125 DOM
8. 2026-06-04
   days on market $599,000 Active 121 DOM
9. 2026-06-03
   days on market $599,000 Active 120 DOM
10. 2026-06-01
    days on market $599,000 Active 118 DOM
11. 2026-05-31
    days on market $599,000 Active 117 DOM
12. 2026-04-13
    price $599,000
13. 2026-03-11
    price $675,000
14. 2026-01-28
    listed $699,000 Active
15. 2025-04-12
    listed $649,999 Active
16. 2012-07-31
    historical
17. 2012-07-31
    historical
18. 2012-02-09
    listed
19. 2012-02-09
    listed $276,000
20. 2012-01-30
    historical
21. 2011-03-15
    listed
22. 2010-09-02
    historical
23. 2009-09-02
    listed
24. 2004-10-18
    soldstatus $207,100
25. 2004-10-04
    soldstatus $362,250
26. 2000-03-09
    soldstatus $185,000
27. 2000-01-10
    soldstatus $125,000
28. 1999-05-13
    soldstatus $110,000

ⓘ 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: $2,399 · $200/mo
• Projected year-2 tax: $6,261 · $522/mo
• Expected delta: +$3,862/yr (+$322/mo · 161.0%)

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

Taxation est. · year 1

• Rental income: $91,200
• − Mortgage interest: −$33,553
• − Property taxes: −$2,399
• − Insurance: −$2,995
• − Repairs & maintenance: −$7,296
• − Management: −$7,296
• − Depreciation: −$17,425
• Taxable income: $20,235
• Est. tax owed @ 24.0%: −$4,856
• After-tax cash flow: $24,103/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
• City population: 7,731,280
• Population (ZIP): 49,753

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Black 29% Two or more races 16% White 1% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 22% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 29% · Canada
• Languages at home: 36% English-only · Spanish 55% 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: ▲ 6.66%
• Current HPI: 277.1628
• Rent YoY: —
• Metro: —
• 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

+444.5% since first listed

17 events — show timeline

• 2026-04-13 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-28 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-12 Listed $649,999 OneKey® MLS as Distributed by MLS Grid
• 2012-07-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-07-31 Delisted — HGMLS
• 2012-02-09 Listed $276,000 OneKey® MLS as Distributed by MLS Grid
• 2012-02-09 Listed — HGMLS
• 2012-01-30 Delisted — HGMLS
• 2011-03-15 Listed — HGMLS
• 2010-09-02 Delisted — HGMLS
• 2009-09-02 Listed — HGMLS
• 2004-10-18 Sold (Public Records) $207,100 Public Records
• 2004-10-04 Sold (Public Records) $362,250 Public Records
• 2000-03-09 Sold (Public Records) $185,000 Public Records
• 2000-01-10 Sold (Public Records) $125,000 Public Records
• 1999-05-13 Sold (Public Records) $110,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,399 · +0.0% YoY. Source: county tax records.