1020 Grand Concourse Unit 5X · New York, NY 10451

$214,999

1 bd · 1.0 ba · 750 sqft · Condo · 20 Days on market

Built 1963 Fair condition ↓ 14% 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0

Listing remarks

Welcome to 1020 Grand Concourse, a well-maintained mid-century cooperative building known for its solid construction, attentive staff, and prime location. This one-bedroom apartment, situated on the fifth floor, offers a spacious layout with plenty of natural light. While the unit needs some updating, it presents an excellent opportunity for a buyer to add personal touches and unlock its full potential. Residents of 1020 Grand Concourse enjoy the convenience of a full-time doorman, adding an extra layer of security and service. The building also allows pets and permits renting with restrictions, providing both comfort and flexibility for owners. With its strong, classic 1960s design, this c

Key facts

• Allows pets
• Permits renting
• Full-time doorman

Tags

• FULL-TIME DOORMAN
• ALLOWS PETS
• PERMITS RENTING

Property features AI

Exterior

• Parking: Garage available; No carport
• Utilities: Public sewer; Electricity connected; Natural gas connected; Phone connected; Water connected; Sewer connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: ENERGY STAR qualified appliances
• Bedrooms: 4 rooms total
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Elevator; ENERGY STAR qualified appliances; Cats and dogs allowed (no restrictions)
• Laundry & utility: Utilities include electricity and natural gas connections

🏢 Co-op / cooperative unit. The $214,999 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 1-bed/1.0-bath condo listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% 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 (+2.6%/yr); 69 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 $2,480/mo this rent would consume 77% of the median local household income ($39k/yr) (locally 6917% 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 ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 2.6% rent growth), your $60k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $211,774 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.49×
• Total profit: $29,658
• Equity at exit: $69,694

10-year hold

• IRR: 13.8%
• Equity multiple: 2.60×
• Total profit: $96,600
• Equity at exit: $89,819

Cash invested: $60,200 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,480 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $473

Break-even live

Break-even rent $1,881

Max offer price $214,999

Occupancy floor 76%

Sensitivity live

Price	-10% $622	-5% $548	+0% $473	+5% $399	+10% $325
Rent	-10% $277	-5% $375	+0% $473	+5% $571	+10% $669
Rate	-1.0pp $582	-0.5pp $528	base $473	+0.5pp $418	+1.0pp $361

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: doormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $214,999 Active 20 DOM
2. 2026-06-18
   days on market $214,999 Active 17 DOM
3. 2026-06-17
   days on market $214,999 Active 16 DOM
4. 2026-06-16
   days on market $214,999 Active 15 DOM
5. 2026-06-15
   days on market $214,999 Active 14 DOM
6. 2026-06-13
   days on market $214,999 Active 12 DOM
7. 2026-06-09
   days on market $214,999 Active 8 DOM
8. 2026-06-08
   days on market $214,999 Active 7 DOM
9. 2026-06-08
   days on market $214,999 Active 6 DOM
10. 2026-06-04
    days on market $214,999 Active 3 DOM
11. 2026-06-03
    days on market $214,999 Active 2 DOM
12. 2026-06-02
    days on marketlisting id $214,999 Active 1 DOM
13. 2026-05-31
    days on market $214,999 Active 273 DOM
14. 2026-04-26
    price $214,999
15. 2025-12-22
    price $229,999
16. 2025-09-30
    price $239,999
17. 2025-08-31
    listed $249,999 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 · 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: $29,760
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$6,255
• Taxable income: $2,400
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $5,104/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This mid-century condo requires moderate renovations to its kitchen and bathroom, and a new flooring. The building exterior is well-maintained, but the interior needs significant updates to increase its value.

Repairs flagged

• Major kitchen appliances — Outdated and worn
• Major bathroom fixtures — Outdated and worn
• Major flooring — Worn and in need of replacement

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace kitchen appliances — Improves functionality and appeal
• Both Replace bathroom fixtures — Enhances functionality and appeal
• Both Replace flooring — Improves comfort and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · Outdated and worn	Major	$15,000–50,000
bathroom fixtures · Outdated and worn	Major	$15,000–50,000
flooring · Worn and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen appliances — Improves functionality and appeal ↑
• Both Replace bathroom fixtures — Enhances functionality and appeal ↑
• Both Replace flooring — Improves comfort and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% Arabic 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

-14.0% since first listed

4 events — show timeline

• 2026-04-26 Price Changed $214,999 OneKey® MLS as Distributed by MLS Grid
• 2025-12-22 Price Changed $229,999 OneKey® MLS as Distributed by MLS Grid
• 2025-09-30 Price Changed $239,999 OneKey® MLS as Distributed by MLS Grid
• 2025-08-31 Listed $249,999 OneKey® MLS as Distributed by MLS Grid