439 Thieriot Ave · New York, NY 10473

$750,000

6 bd · 2.0 ba · 1,625 sqft · MultiFamily public records · 45 Days on market

Built 1920 2,500 sqft lot Est $897k · 16% under

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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 +20.6/30.0
• ARV discount +14.9/15.0
• DSCR +6.5/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Welcome to 439 Thieriot Avenue, a well-configured two-family home offering space and versatility. The second-floor unit features 2 bedrooms and 1 full bath. The first-floor residence offers 2.5 bedrooms and 1 full bath, providing flexible living space. The finished basement includes a 1-bedroom, 1-bath unit, ideal for extended living or additional income potential. An excellent opportunity for both investors and owner-occupants alike. With its multi-unit configuration, this property offers remarkable flexibility for owner-occupants seeking rental income or investors looking to expand their portfolio. Situated in a convenient location with access to transportation, shopping, and neighborhood

Key facts

• Two-family home
• Finished basement
• Convenient location

Tags

• TWO-FAMILY HOME
• FINISHED BASEMENT
• MULTI-UNIT CONFIGURATION
• CONVENIENT LOCATION
• ACCESS TO TRANSPORTATION
• NEIGHBORHOOD AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $500/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $720k (4.1% below list).
• Recommended offer: $720k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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.
• Market conditions: 141 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $7,196/mo this rent would consume 165% of the median local household income ($52k/yr) (locally 3913% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $49k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $485k; list at $750k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $719,600 (4.1% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.96% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $897,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Saint Lawrence Ave	0.29mi	6/2.0	1,760 (+8%)	12mo	$900,000	$511	63
2065 Lacombe Ave	0.49mi	6/2.0	1,540 (-5%)	17mo	$850,000	$552	54

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

Projected returns pro-forma

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

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-58,063
• Equity at exit: $111,827

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $30,619
• Equity at exit: $64,846

Cash invested: $210,000 (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 10473

• Active inventory: 141
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $7,196 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$440 /mo · $5,276/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,511
• Net cashflow: $1,000

Break-even live

Break-even rent $5,931

Max offer price $750,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$7,196
Total (2 units)			$7,196

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-11
   status Pending
2. 2026-04-08
   status Active
3. 2026-04-04
   status Pending
4. 2026-03-26
   price $750,000
5. 2026-03-26
   status Active
6. 2026-03-19
   status Pending
7. 2026-02-12
   listed $799,000 Active
8. 2008-01-25
   historical
9. 2007-12-08
   listed
10. 2007-01-12
    soldstatus $485,000

ⓘ 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: $5,276 · $440/mo
• Projected year-2 tax: $8,975 · $748/mo
• Expected delta: +$3,700/yr (+$308/mo · 70.1%)

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

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: $86,352
• − Mortgage interest: −$42,012
• − Property taxes: −$5,276
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,908
• − Management: −$6,908
• − Depreciation: −$21,818
• Taxable loss: −$320
• Est. tax savings @ 24.0%: +$77
• After-tax cash flow: $12,072/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): 58,855
• Household income: $52,462
• Rent vs Own: 71.4% rent · 28.6% own
• Severe rent burden: 3913.0

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: Majority Hispanic (59%)
• Race & ethnicity: Hispanic / Latino 59% Black 34% Two or more races 12% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 31% Dominican 20%
• Common ancestry: British 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 45% Other Indo-European 1% 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: ▼ -212.70%
• Current HPI: 276.2941
• 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

+54.6% since first listed

10 events — show timeline

• 2026-04-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-08 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-12 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2008-01-25 Delisted — HGMLS
• 2007-12-08 Listed — HGMLS
• 2007-01-12 Sold (Public Records) $485,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $5,276 · +0.8% YoY. Source: county tax records.