3 Fordham Hill Oval Unit 4G · New York, NY 10458

$175,000

2 bd · 1.5 ba · 975 sqft · Condo · 447 Days on market

Built 1950 $1677/mo HOA ↓ 19% since listing

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Why this score? — see what drove the B+ 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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

This cooperative unit apartment offers breathtaking views of the city skyline and is situated in the renowned gated community of Fordham Hill. The apartment features two spacious bdrms with ample closet space, a bright living and dining area, and a generously sized galley style kitchen with pantry. Hardwood floors throughout the apartment. This can be your blank canvas that needs just a bit of customization to make it your own. Maintenance covers all utilities, taxes, high-speed internet, and insurance. It is 45% tax-deductible. Residents enjoy top-tier amenities, including on-site management, 24-hour security, a fitness center, landscaped sitting areas, a storage room in the building, laun

Key facts

• Gated community
• Breathtaking views
• Top-tier amenities

Tags

• BREATHTAKING VIEWS
• GATED COMMUNITY
• GALLEY STYLE KITCHEN
• HARDWOOD FLOORS
• TOP-TIER AMENITIES
• ON-SITE MANAGEMENT

Property features AI

Finance

• HOA & community: Has association (Fordham Hill Owners Corp.); Monthly association fee; Association fee covers utilities, cable TV, common area maintenance, electricity, exterior maintenance, grounds care, heat, hot water, internet, sewer, snow removal, trash, and water

Exterior

• Parking: No carport
• Security: Building security; Fire alarm; Gated community with security gate
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Stock cooperative
• Construction: Brick exterior; Basement present
• Exterior features: Brick construction; Chain-link fencing; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: Total rooms: 4
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Formal dining area; Galley-style kitchen; Basement with common areas, storage space, and walk-out access
• Laundry & utility: Laundry room in basement; Common area laundry

🏢 Co-op / cooperative unit. The $175,000 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 $175k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,194/mo this rent would consume 123% 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 $10k of equity ($1k loan paydown + $9k 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 $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 447 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 40% 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 447 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 2.40% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.9%
• Equity multiple: 2.86×
• Total profit: $91,013
• Equity at exit: $99,432

10-year hold

• IRR: 31.1%
• Equity multiple: 7.26×
• Total profit: $306,821
• Equity at exit: $171,823

Cash invested: $49,000 (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: 3.5×

Monthly cashflow live

• Estimated rent: $4,194 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$1,677
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $427

Break-even live

Break-even rent $3,654

Max offer price $175,000

Occupancy floor 85%

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: $43,750
• Closing costs: $5,250
• 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	19d	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: $1,677 · $20,124/yr
• Likely covers: internetgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $175,000 Active 447 DOM
2. 2026-06-17
   days on market $175,000 Active 446 DOM
3. 2026-06-15
   days on market $175,000 Active 444 DOM
4. 2026-06-13
   days on market $175,000 Active 442 DOM
5. 2026-06-10
   days on market $175,000 Active 438 DOM
6. 2026-06-08
   days on market $175,000 Active 437 DOM
7. 2026-06-03
   days on market $175,000 Active 432 DOM
8. 2026-06-01
   days on market $175,000 Active 430 DOM
9. 2026-05-31
   days on market $175,000 Active 429 DOM
10. 2026-04-27
    price $175,000
11. 2026-04-04
    status Active
12. 2026-04-02
    historical
13. 2026-02-21
    price $185,000
14. 2025-03-26
    listed $215,000 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: $50,325
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$4,026
• − Management: −$4,026
• − HOA: −$20,124
• − Depreciation: −$5,091
• Taxable income: $3,755
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $4,219/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

-18.6% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-26 Listed $215,000 OneKey® MLS as Distributed by MLS Grid