1429 Leland Ave · New York, NY 10460

$1,100,000

8 bd · None ba · 3,472 sqft · MultiFamily public records · 1 Days on market

Built 1924 3,600 sqft lot Est $1236k · 11% under

---

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 +24.8/30.0
• ARV discount +12.5/15.0
• Appreciation +8.7/10.0
• DSCR +8.1/10.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Exceptional 4-unit attached multi-family building in the heart of Parkchester! Located at 1429 Leland Avenue, this 2-story property (built 1924) offers a semi-finished basement, ideal for storage or laundry, and convenient on-street parking. Perfect for investors or owner-occupants seeking rental income in a vibrant Bronx neighborhood, close to public transit, shopping, and restaurants. Strong value in a well-established area—schedule a showing today!

Key facts

• 3,600 sq ft lot
• Built 1924

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $569/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.10M).
• Cap rate 8.8% 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: 78 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 $12,745/mo this rent would consume 421% of the median local household income ($36k/yr) (locally 7852% 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 $90k of equity ($8k loan paydown + $82k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $308k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$144k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $1,100,000

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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.16% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $1,236,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1335 Commonwealth Ave	0.29mi	8/4.0	3,685 (+6%)	4mo	$1,260,000	$342	74
1321 Commonwealth Ave	0.30mi	7/— (-1)	3,685 (+6%)	5mo	$1,258,000	$341	67
1212 Commmonwealth Ave	0.45mi	9/4.0 (+1)	3,564 (+3%)	12mo	$1,300,000	$365	60
1746 Van Buren St	0.54mi	8/3.0	3,388 (-2%)	14mo	$940,000	$277	59
1171 Leland Ave	0.43mi	7/4.0 (-1)	3,717 (+7%)	8mo	$1,100,000	$296	57
1169 Leland Ave	0.43mi	7/4.0 (-1)	3,717 (+7%)	8mo	$995,200	$268	56
1254 Rosedale Ave	0.40mi	8/3.0	3,000 (-14%)	5mo	$1,162,000	$387	54
1746 Westchester Ave	0.42mi	8/6.0	3,135 (-10%)	13mo	$1,125,000	$359	54
1432 Saint Lawrence Ave	0.18mi	9/2.0 (+1)	2,968 (-14%)	13mo	$1,200,000	$404	52
1570 Bogart Ave Unit A	0.75mi	9/6.0 (+1)	3,258 (-6%)	12mo	$1,160,000	$356	40
1126 Beach Ave	0.53mi	7/2.0 (-1)	2,982 (-14%)	14mo	$849,999	$285	35
1852 Amethyst St	0.72mi	7/5.0 (-1)	2,954 (-15%)	2mo	$1,125,000	$381	34

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

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 2.82×
• Total profit: $561,062
• Equity at exit: $795,912

10-year hold

• IRR: 23.5%
• Equity multiple: 5.94×
• Total profit: $1,520,684
• Equity at exit: $1,543,369

Cash invested: $308,000 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 28.8×

Monthly cashflow live

• Estimated rent: $12,745 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$1,498 /mo · $17,980/yr
• Insurance: −$458
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,676
• Net cashflow: $2,277

Break-even live

Break-even rent $9,863

Max offer price $1,100,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$12,744
Total (4 units)			$12,745

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-12-16
   status Pending
2. 2025-12-16
   listed $1,100,000 Active

ⓘ 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: $17,980 · $1,498/mo
• Projected year-2 tax: $18,285 · $1,524/mo
• Expected delta: +$305/yr (+$25/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $152,940
• − Mortgage interest: −$61,617
• − Property taxes: −$17,980
• − Insurance: −$6,298
• − Repairs & maintenance: −$12,235
• − Management: −$12,235
• − Depreciation: −$32,000
• Taxable income: $10,575
• Est. tax owed @ 24.0%: −$2,538
• After-tax cash flow: $24,785/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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 (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 7.46%
• Current HPI: 224.0425
• Rent YoY: —
• 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

2 events — show timeline

• 2025-12-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $17,980 · +3.2% YoY. Source: county tax records.