2304 Bassford Ave · New York, NY 10458

$950,000

8 bd · 3.0 ba · 2,960 sqft · MultiFamily public records · 21 Days on market

Built 1901 2,129 sqft lot Est $924k · at est.

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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 +13.8/30.0
• Appreciation +7.5/10.0
• ARV discount +6.2/15.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• 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

Welcome to this exceptional two family home ideally situated in the heart of one of the Bronx's most iconic and vibrant neighborhoods- Little Italy This beautiful maintained property features two spacious three bedroom apartment along with a fully finished basement, offering the perfect opportunity for both comfortable living and additional income potential. Whether you choose to occupy one unit while renting the other or invest purely for cash flow, this home delivers versatility and long terms value. conveniently located near some of the Bronx's most celebrated attractions, residents can enjoy easy access to the Bronx Zoo, the New York Botanical Garden, and an incredible selection of ren

Key facts

• Easy access to cafe
• Two family home
• 2,129 sq ft lot

Tags

• TWO FAMILY HOME
• FULLY FINISHED BASEMENT
• EASY ACCESS TO BRONX ZOO
• EASY ACCESS TO CAFE
• EASY ACCESS TO LOCAL SHOPS
• CLOSE PROXIMITY TO BUS LINE

Property features AI

Exterior

• Parking: On-street parking; No carport
• Utilities: Public sewer; No additional utilities listed
• Home design: Duplex; Updated / remodeled condition
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units and one 1-bedroom unit (multi-unit duplex configuration)
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; No central cooling reported
• Interior features: First-floor bedroom; First-floor full bath; Open floor plan; Open kitchen; Basement present

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive. Per door: $48/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $733k (22.8% below list).
• Recommended offer: $733k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Rents rising fast (+8.0%/yr); 62 active listings in the ZIP; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $7,330/mo this rent would consume 216% of the median local household income ($41k/yr) (locally 10274% 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 $54k of equity ($7k loan paydown + $48k appreciation (5.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $266k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$87k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($936k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $733,000 (22.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.77% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $923,520
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 Bathgate Ave	0.02mi	7/3.0 (-1)	2,652 (-10%)	13mo	$849,999	$321	66
519 E 187th St	0.16mi	8/3.0	3,300 (+12%)	12mo	$890,000	$270	63
2249 Hughes Ave	0.28mi	7/2.0 (-1)	3,300 (+12%)	4mo	$860,000	$261	56
704 E 182nd St	0.44mi	7/4.5 (-1)	3,045 (+3%)	18mo	$950,000	$312	49
741 E 181st St	0.56mi	7/4.0 (-1)	2,625 (-11%)	11mo	$998,000	$380	36
2671 Bainbridge Ave	0.71mi	9/2.0 (+1)	2,606 (-12%)	21mo	$800,000	$307	20

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

Projected returns pro-forma

5.03% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 2.00×
• Total profit: $264,671
• Equity at exit: $539,774

10-year hold

• IRR: 17.6%
• Equity multiple: 4.33×
• Total profit: $886,560
• Equity at exit: $932,754

Cash invested: $266,000 (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 10458

• Home prices YoY: 3.0%
• Rents YoY: 8.0%
• Active inventory: 62
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $7,330 medium
• Mortgage (P&I): −$4,982
• Tax from tax record: −$318 /mo · $3,814/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,539
• Net cashflow: $95

Break-even live

Break-even rent $7,210

Max offer price $950,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$7,330
Total (2 units)			$7,330

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $950,000 Active 21 DOM
2. 2026-06-17
   days on market $950,000 Active 20 DOM
3. 2026-06-16
   days on market $950,000 Active 19 DOM
4. 2026-06-15
   days on market $950,000 Active 18 DOM
5. 2026-06-13
   days on market $950,000 Active 16 DOM
6. 2026-06-10
   days on market $950,000 Active 12 DOM
7. 2026-06-08
   days on market $950,000 Active 11 DOM
8. 2026-06-08
   days on market $950,000 Active 10 DOM
9. 2026-06-04
   days on market $950,000 Active 7 DOM
10. 2026-06-03
    days on market $950,000 Active 6 DOM
11. 2026-06-02
    days on market $950,000 Active 5 DOM
12. 2026-06-01
    days on market $950,000 Active 4 DOM
13. 2026-05-31
    days on market $950,000 Active 3 DOM

ⓘ 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: $3,814 · $318/mo
• Projected year-2 tax: $9,934 · $828/mo
• Expected delta: +$6,121/yr (+$510/mo · 160.5%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,960
• − Mortgage interest: −$53,215
• − Property taxes: −$3,814
• − Insurance: −$4,750
• − Repairs & maintenance: −$7,037
• − Management: −$7,037
• − Depreciation: −$27,636
• Taxable loss: −$15,528
• Est. tax savings @ 24.0%: +$3,727
• After-tax cash flow: $4,869/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): 74,898
• Household income: $40,800
• Rent vs Own: 95.8% rent · 4.2% own
• Severe rent burden: 10274.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Black 16% Two or more races 10% White 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 15% Dominican 34%
• Foreign-born: 41% · Canada, Jamaica, South Korea
• Languages at home: 30% English-only · Spanish 61% Other Indo-European 3% 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: ▲ 5.03%
• Current HPI: 173.4217
• Rent YoY: ▲ 8.04%
• 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

+304.3% since first listed

7 events — show timeline

• 2026-05-25 Listed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-19 Listed $1,000,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Sold (Public Records) $1,075,000 Public Records
• 2024-11-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-06 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2005-01-03 Sold (Public Records) $235,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,814 · +0.9% YoY. Source: county tax records.