3131 Grand Concourse Unit 5D · New York, NY 10468

$160,000

1 bd · 1.0 ba · 848 sqft · Condo public records · 132 Days on market

Built 1956 $1021/mo HOA · 46% of rent

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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).

• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Cash flow +4.8/30.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Spacious One-Bedroom with Private Terrace in Bedford Park! Discover this oversized one-bedroom with a private terrace at 3131 Grand Concourse in the Bedford Park section of the Bronx. Freshly painted and move-in ready, this sun-drenched apartment boasts a large living room with a separate dining area and a wall of windows that flood the space with natural light. The galley kitchen features elegant dark wood cabinetry, sleek granite countertops, a stylish subway mosaic tile backsplash, and stainless steel appliances. The generously sized bedroom includes a huge walk-in closet, providing ample storage. Conveniently located near Fordham University, Lehman College, and Montefiore Hospital, with

Key facts

• Private terrace
• Galley kitchen
• Granite countertops

Tags

• PRIVATE TERRACE
• GALLEY KITCHEN
• DARK WOOD CABINETRY
• GRANITE COUNTERTOPS
• SUBWAY MOSAIC TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (35.3% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $103k (35.3% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 95 Sheila Mencher (math 22% / reading 57%, grade F, #1,444 of 2,108 statewide, top 71%, 902 students, 87% 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; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,198/mo this rent would consume 57% 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 $2k of equity ($1k loan paydown + $806 appreciation (0.5% local appreciation)).
• 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 132 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $124k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent; built in 1956 — 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 $103,485 (35.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.37% ✓
• Cap rate: 3.36%
• Cash-on-cash: -10.46%
• DSCR: 0.53
• GRM: 6.1

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: -7.3%
• Equity multiple: 0.63×
• Total profit: $-16,584
• Equity at exit: $50,529

10-year hold

• IRR: 3.2%
• Equity multiple: 1.43×
• Total profit: $19,198
• Equity at exit: $64,090

Cash invested: $44,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $2,198 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$1,021
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-391

Break-even live

Break-even rent $2,692

Max offer price $103,485

Occupancy floor —

Sensitivity live

Price	-10% $-280	-5% $-335	+0% $-391	+5% $-446	+10% $-501
Rent	-10% $-564	-5% $-477	+0% $-391	+5% $-304	+10% $-217
Rate	-1.0pp $-310	-0.5pp $-350	base $-391	+0.5pp $-432	+1.0pp $-474

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	23d	3	1.49mi

HOA detail condo

• Monthly dues: $1,021 · $12,252/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-02-19
   status Pending
2. 2025-12-03
   price $160,000
3. 2025-10-09
   listed $170,000 Active
4. 2025-10-02
   historical
5. 2025-06-23
   status Active
6. 2025-04-30
   status Pending
7. 2025-04-01
   listed $180,000 Active
8. 2014-08-29
   historical Expired
9. 2014-08-28
   historical
10. 2014-02-28
    listed Active
11. 2014-02-27
    listed $129,000
12. 2013-12-30
    historical
13. 2013-12-30
    historical
14. 2013-08-19
    listed Active
15. 2013-08-19
    historical Cancelled
16. 2013-08-19
    listed $130,000
17. 2013-08-19
    historical
18. 2013-08-16
    listed Active
19. 2013-08-16
    listed $130,000
20. 2007-06-26
    soldstatus $124,000
21. 2007-03-26
    price $130,000
22. 2007-03-26
    historical
23. 2007-02-20
    listed $124,000

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

Taxation est. · year 1

• Rental income: $26,372
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − HOA: −$12,252
• − Depreciation: −$4,655
• Taxable loss: −$6,917
• Est. tax savings @ 24.0%: +$1,660
• After-tax cash flow: $-3,027/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

+29.0% since first listed

23 events — show timeline

• 2026-02-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-03 Price Changed $160,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-09 Listed $170,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-23 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-04-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-01 Listed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2014-08-29 Delisted — HGMLS
• 2014-08-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-02-28 Listed — HGMLS
• 2014-02-27 Listed $129,000 OneKey® MLS as Distributed by MLS Grid
• 2013-12-30 Delisted — HGMLS
• 2013-12-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-08-19 Listed — HGMLS
• 2013-08-19 Delisted — HGMLS
• 2013-08-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-08-19 Listed $130,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-16 Listed — HGMLS
• 2013-08-16 Listed $130,000 OneKey® MLS as Distributed by MLS Grid
• 2007-06-26 Sold (MLS) $124,000 HGMLS
• 2007-03-26 Delisted — HGMLS
• 2007-03-26 Price Changed $130,000 HGMLS
• 2007-02-20 Listed $124,000 HGMLS