3 Fordham Hill Oval Unit 14F · New York, NY 10468

$222,500

2 bd · 1.5 ba · 975 sqft · Condo · 391 Days on market

Built 1950 $1730/mo HOA ↓ 7% since listing

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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 +11.1/30.0
• 1% rule +10.0/10.0
• 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
• DSCR +3.2/10.0
• Condition / age +2.5/5.0

Listing remarks

$43,500 BUYER INCENTIVE TOWARDS MONTHLY MAINTENANCE PRE-PAIDS OR CLOSING COSTS! Coops requirements: DTI 33% minimum, 680 plus credit score, $95,000 minimum income. This bright and beautiful, newly renovated 2-bedroom/1.5 bath cooperative apartment is perfectly situated for access to Manhattan, Westchester, and other amenities the Bronx has to offer. The flexible floor plan allows for easy flow between living and dining spaces, with new, gorgeous water-resistant LVP floors installed throughout the apartment. The main space is bathed in south-facing light, with great views towards Manhattan and the Bronx, and one of the two bedroom has west-facing exposure for brilliant sunsets and partial vi

Key facts

• New fitness center
• Galley style kitchen
• $1,730 HOA

Tags

• WATER RESISTANT LVP FLOORS
• GALLEY STYLE KITCHEN
• WHITE GRAY QUARTZ COUNTERTOPS
• LARGE RENOVATED PLAYGROUND
• NEW FITNESS CENTER
• OUTDOOR SITTING AREAS

Property features AI

Finance

• HOA & community: Part of Fordham Hill Owners Corp; Monthly association fee (includes utilities, cable TV, common area maintenance, electricity, exterior maintenance, grounds care, heat, hot water, internet, sewer, snow removal, trash, water); Building amenities: elevators, fitness center, gated entry, landscaping, grounds maintenance

Exterior

• Parking: No carport
• Utilities: Public sewer; Water connected and available; Electricity available; Natural gas available; Cable available; Trash collection (public)
• Home design: Stock cooperative; One level; Updated/remodeled
• Construction: Block construction materials; Foundations: block, brick/mortar, concrete perimeter
• Exterior features: Block construction; Not waterfront

Interior

• Kitchen: Gas oven; Pantry; Quartz/Quartzite countertops
• Bedrooms: Total rooms: 4 (includes bedroom count within the room total)
• Flooring: Vinyl flooring; Other flooring types
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Formal dining area; Galley-style kitchen; Open floor plan; Pantry; Quartz/Quartzite counters; Double-pane windows; Finished common basement with walk-out access and storage space; Updated/remodeled condition; Pets allowed (contact for details)
• Laundry & utility: Laundry in basement (common area)

🏢 Co-op / cooperative unit. The $222,500 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (5.9% below list).
• Meets the 1% rule at list price ($4k rent vs $222k).
• Recommended offer: $196k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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 (+6.7%/yr); 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,022/mo this rent would consume 104% 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.
• By year 10, 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 391 days — a 12% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent; 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 $195,800 (12.0% 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 391 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — 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. 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.
11. 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.
12. 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: 1.81% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 4.6

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: 3.0%
• Equity multiple: 1.16×
• Total profit: $9,729
• Equity at exit: $70,268

10-year hold

• IRR: 12.7%
• Equity multiple: 2.76×
• Total profit: $109,760
• Equity at exit: $89,126

Cash invested: $62,300 (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: 122
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $4,022 medium
• Mortgage (P&I): −$1,167
• Tax est. 1.5%: −$278 /mo · $3,338/yr
• Insurance: −$93
• HOA: −$1,730
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $-90

Break-even live

Break-even rent $4,136

Max offer price $209,467

Occupancy floor 97%

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: $55,625
• Closing costs: $6,675
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	24d	1	0.52mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	22d	3	1.02mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	1.50mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	24d	1	1.50mi

HOA detail condo

• Monthly dues: $1,730 · $20,760/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $222,500 Active 391 DOM
2. 2026-06-17
   days on market $222,500 Active 390 DOM
3. 2026-06-15
   days on market $222,500 Active 388 DOM
4. 2026-06-13
   days on market $222,500 Active 386 DOM
5. 2026-06-10
   days on market $222,500 Active 382 DOM
6. 2026-06-08
   days on market $222,500 Active 381 DOM
7. 2026-06-03
   days on market $222,500 Active 376 DOM
8. 2026-06-01
   days on market $222,500 Active 374 DOM
9. 2026-05-31
   pricedays on market $222,500 Active 373 DOM
10. 2026-03-21
    price $225,000
11. 2026-03-21
    status Active
12. 2026-03-01
    historical
13. 2026-01-13
    price $230,000
14. 2025-12-19
    status Active
15. 2025-11-21
    status Pending
16. 2025-11-17
    price $266,000
17. 2025-05-17
    price $235,000
18. 2025-04-02
    listed $242,500 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: $48,267
• − Mortgage interest: −$12,463
• − Property taxes: −$3,338
• − Insurance: −$1,112
• − Repairs & maintenance: −$3,861
• − Management: −$3,861
• − HOA: −$20,760
• − Depreciation: −$6,473
• Taxable loss: −$3,602
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $-216/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

-7.2% since first listed

9 events — show timeline

• 2026-03-21 Price Changed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-19 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $266,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-17 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-02 Listed $242,500 OneKey® MLS as Distributed by MLS Grid