1323 Harding Park · New York, NY 10473

$400,000

3 bd · 1.0 ba · 1,776 sqft · MultiFamily public records · 114 Days on market

Built 1945 2,961 sqft lot

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Why this score? — see what drove the C 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor alert! This 3-bedroom, 1-bath single-family home in Harding Park, Clason Point, is a full gut renovation project with tremendous upside. Sold as is, this property offers a rare opportunity for buyers to customize or expand in a waterfront neighborhood with strong growth potential. Zoned for residential use, the home allows flexibility (buyer to verify all potential uses and expansions). The area is a distinctive Bronx peninsula community, offering a private, coastal feel while remaining minutes from Soundview Park, local shops, eateries, bus lines, the 6 train, and Bruckner Expressway, providing easy access to Manhattan and beyond. The property sits within a flood zone, common for

Key facts

• 2,961 sq ft lot
• Garage
• Built 1945

Tags

• FULL GUT RENOVATION PROJECT
• WATERFRONT NEIGHBORHOOD
• EASY ACCESS TO MANHATTAN
• INCOME GENERATING INVESTMENT

Property features AI

Exterior

• Parking: Attached garage; One garage space; Additional off-street parking and parking lot spaces (total 6 parking spaces)
• Utilities: Public sewer; Electricity available; Natural gas available
• Home design: Single-family residence
• Construction: Brick construction; Unfinished basement
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Includes appliances (unspecified)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Entrance foyer; Additional interior features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $364k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 2 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,191/mo this rent would consume 96% 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 $3k of loan paydown is wiped out by about $12k 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 114 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $364,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 8.0

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-9,006
• Equity at exit: $59,641

10-year hold

• IRR: 7.5%
• Equity multiple: 1.57×
• Total profit: $63,632
• Equity at exit: $34,585

Cash invested: $112,000 (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: 8.0×

Monthly cashflow live

• Estimated rent: $4,191 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$168 /mo · $2,015/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$880
• Net cashflow: $878

Break-even live

Break-even rent $3,079

Max offer price $400,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,105	-5% $992	+0% $878	+5% $765	+10% $652
Rent	-10% $547	-5% $713	+0% $878	+5% $1,044	+10% $1,210
Rate	-1.0pp $1,080	-0.5pp $980	base $878	+0.5pp $775	+1.0pp $669

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Dune Ct Unit 1 Bronx, NY	4.0	2.5	1600	$4,300	$2.69	26d	1	0.10mi
114-09 Taipei Ct Unit 2fl Flushing, NY	3.0	2.5	1600	$3,500	$2.19	26d	1	1.41mi

Listing history 13 events

1. 2026-06-21
   days on market $400,000 Active 114 DOM
2. 2026-06-18
   days on market $400,000 Active 111 DOM
3. 2026-06-17
   days on market $400,000 Active 110 DOM
4. 2026-06-15
   days on market $400,000 Active 108 DOM
5. 2026-06-13
   days on market $400,000 Active 106 DOM
6. 2026-06-10
   days on market $400,000 Active 102 DOM
7. 2026-06-08
   days on market $400,000 Active 101 DOM
8. 2026-06-08
   days on market $400,000 Active 100 DOM
9. 2026-06-04
   days on market $400,000 Active 97 DOM
10. 2026-06-03
    days on market $400,000 Active 96 DOM
11. 2026-06-01
    days on market $400,000 Active 94 DOM
12. 2026-05-31
    days on market $400,000 Active 93 DOM
13. 2026-02-27
    listed $400,000 Active

ⓘ 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: $2,015 · $168/mo
• Projected year-2 tax: $4,387 · $366/mo
• Expected delta: +$2,373/yr (+$198/mo · 117.8%)

ⓘ 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 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: $50,289
• − Mortgage interest: −$22,406
• − Property taxes: −$2,015
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,023
• − Management: −$4,023
• − Depreciation: −$11,636
• Taxable income: $4,186
• Est. tax owed @ 24.0%: −$1,005
• After-tax cash flow: $9,537/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

1 event — show timeline

• 2026-02-27 Listed $400,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $2,015 · +1.1% YoY. Source: county tax records.