1480 Thieriot Ave Unit 5L · New York, NY 10460

$320,000

3 bd · 2.0 ba · 1,100 sqft · Condo · 102 Days on market

Built 1960

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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).

• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0

Listing remarks

1480 Thieriot Avenue, Unit 5L is a rare opportunity to own a spacious and well-appointed 3-bedroom, 2-bathroom co-op in a highly desirable Bronx location. A major highlight of this home is that the monthly maintenance includes all utilities — heat, hot water, gas, and electricity, streamlining expenses and simplifying ownership. With generous living areas and three full bedrooms, the layout offers exceptional flexibility for growing households, guests, or work-from-home needs. Located in a well-maintained, pet-friendly building, residents enjoy access to a range of amenities including a live-in super, laundry room, storage, parking (waitlist), entry security system, and a shared outdo

Key facts

• Live in super
• Laundry room
• Built 1960

Tags

• WELL MAINTAINED BUILDING
• PET FRIENDLY BUILDING
• LIVE IN SUPER
• LAUNDRY ROOM
• ENTRY SECURITY SYSTEM
• 8 MINUTES FROM EXPRESS 6 TRAIN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $-581 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $320k).
• Recommended offer: $291k (9.0% below list) — sets the bar for market timing.
• Cap rate 4.4% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,474/mo this rent would consume 115% 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 $26k of equity ($2k loan paydown + $24k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• 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 $291,200 (9.0% 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.09% ✓
• Cap rate: 4.36%
• Cash-on-cash: -6.90%
• DSCR: 0.69
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.9%
• Equity multiple: 1.94×
• Total profit: $84,654
• Equity at exit: $231,538

10-year hold

• IRR: 13.4%
• Equity multiple: 4.06×
• Total profit: $274,600
• Equity at exit: $448,980

Cash invested: $89,600 (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: 7.7×

Monthly cashflow live

• Estimated rent: $3,474 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,048
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $-581

Break-even live

Break-even rent $4,210

Max offer price $235,880

Occupancy floor —

Sensitivity live

Price	-10% $-360	-5% $-471	+0% $-581	+5% $-692	+10% $-802
Rent	-10% $-856	-5% $-719	+0% $-581	+5% $-444	+10% $-307
Rate	-1.0pp $-420	-0.5pp $-500	base $-581	+0.5pp $-664	+1.0pp $-749

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	0d	1	1.31mi
620 Rosedale Ave Bronx, NY	3.0	1.0	1053	$3,643	$3.46	26d	1	1.36mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.49mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	26d	1	1.49mi

HOA detail condo

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

Listing history 10 events

1. 2026-01-12
   status Pending
2. 2026-01-02
   historical
3. 2026-01-02
   status Active
4. 2025-12-31
   historical
5. 2025-11-03
   status Active
6. 2025-08-18
   status Pending
7. 2025-07-06
   listed $320,000 Active
8. 2025-01-21
   status Pending
9. 2024-11-12
   listed $320,000 Active
10. 2024-08-26
    listed $320,000 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 7/10 Severe FEMA zone X (unshaded) · 75% 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: $41,690
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$2,398
• − Repairs & maintenance: −$3,335
• − Management: −$3,335
• − HOA: −$12,576
• − Depreciation: −$9,309
• Taxable loss: −$11,988
• Est. tax savings @ 24.0%: +$2,877
• After-tax cash flow: $-4,099/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

+0.0% since first listed

10 events — show timeline

• 2026-01-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-03 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-06 Listed $320,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-11-12 Listed $320,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-26 Listed $320,000 OneKey® MLS as Distributed by MLS Grid