1667 Nelson Ave · New York, NY 10453

$2,799,999

None bd · None ba · 11,375 sqft · MultiFamily public records · 79 Days on market

Built 1913 3,742 sqft lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent 11-family mid-rise apartment Building located in Morris Heights in Bronx. This Well-kept building features a 2-bedroom and a 1-bedroom unit on the ground fl, two 4-bedroom/1-bathroom units on 1st fl, one 4-bedroom and two 2-bedroom units on 2nd fl, one 4-bedroom and two 2-bedroom units on 3rd fl, and one 4-bedroom and two 2-bedroom units on 4th fl as well. Annual Rental income is around $234K. Tenant occupied, no lease in place. Possible to deliver vacant. Separate meters. Tenants pay their own utilities. Conveniently located near Buses, 7 min walk to Train stations, close to the Harlem River, Shops, Mall, Playground, Library and more.

Key facts

• Close to shops
• Close to mall
• Separate meters

Tags

• MID-RISE APARTMENT BUILDING
• SEPARATE METERS
• 7 MIN WALK TO TRAIN STATIONS
• CLOSE TO HARLEM RIVER
• CLOSE TO SHOPS
• CLOSE TO MALL

Property features AI

Exterior

• Parking: No carport; Other parking features
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Quadruplex
• Construction: Brick exterior; Property condition listed as actual
• Exterior features: Brick construction; Not waterfront

Interior

• Heating & cooling: Oil heating
• Interior features: First-floor bedroom; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a multifamily listed at $2.80M.

Deal economics

• At list price, monthly cash flow is $15k ($177k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($41k rent vs $2.80M).
• Recommended offer: $2.63M (6.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: 34 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 $40,683/mo this rent would consume 1471% of the median local household income ($33k/yr) (locally 10286% 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 $299k of equity ($19k loan paydown + $280k appreciation (10.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $784k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$481k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($2.63M) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 11y 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.
• Current owner paid $700k; list at $2.80M implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — 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 $2,631,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.45% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.59%
• DSCR: 2.01
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 4.14×
• Total profit: $2,464,426
• Equity at exit: $2,522,461

10-year hold

• IRR: 35.5%
• Equity multiple: 9.31×
• Total profit: $6,516,876
• Equity at exit: $5,439,782

Cash invested: $784,000 (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 10453

• Home prices YoY: 4.2%
• Active inventory: 34
• Price-to-rent: 97.8×

Monthly cashflow live

• Estimated rent: $40,683 medium
• Mortgage (P&I): −$14,683
• Tax from tax record: −$1,529 /mo · $18,353/yr
• Insurance: −$1,167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,543
• Net cashflow: $14,760

Break-even live

Break-even rent $22,000

Max offer price $2,799,999

Occupancy floor 59%

Sensitivity live

Price	-10% $16,345	-5% $15,552	+0% $14,760	+5% $13,967	+10% $13,175
Rent	-10% $11,546	-5% $13,153	+0% $14,760	+5% $16,367	+10% $17,974
Rate	-1.0pp $16,170	-0.5pp $15,472	base $14,760	+0.5pp $14,034	+1.0pp $13,296

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

Units	Beds	Baths	Est. rent
▸ 9× units	2	1	$21,474
▸ 7× units	4	1	$19,208
Total (16 units)			$40,683

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: $700,000
• Closing costs: $84,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $2,799,999 Active 79 DOM
2. 2026-06-18
   days on market $2,799,999 Active 76 DOM
3. 2026-06-17
   days on market $2,799,999 Active 75 DOM
4. 2026-06-15
   days on market $2,799,999 Active 73 DOM
5. 2026-06-13
   days on market $2,799,999 Active 71 DOM
6. 2026-06-10
   days on market $2,799,999 Active 67 DOM
7. 2026-06-08
   days on market $2,799,999 Active 66 DOM
8. 2026-06-08
   days on market $2,799,999 Active 65 DOM
9. 2026-06-04
   days on market $2,799,999 Active 62 DOM
10. 2026-06-03
    days on market $2,799,999 Active 61 DOM
11. 2026-06-01
    days on market $2,799,999 Active 59 DOM
12. 2026-05-31
    days on market $2,799,999 Active 58 DOM
13. 2026-04-03
    listed $2,799,999 Active
14. 2018-03-14
    historical Permanently Off Market
15. 2018-03-14
    status Active
16. 2018-03-14
    historical Permanently Off Market
17. 2018-03-14
    status Active
18. 2018-03-14
    historical Permanently Off Market
19. 2018-03-14
    status Active
20. 2018-03-14
    historical Permanently Off Market
21. 2018-03-14
    status Active
22. 2018-03-13
    historical Permanently Off Market
23. 2018-03-13
    status Active
24. 2018-03-13
    historical Permanently Off Market
25. 2018-03-13
    status Active
26. 2018-03-13
    historical Permanently Off Market
27. 2018-03-13
    status Active
28. 2018-03-13
    historical Permanently Off Market
29. 2018-03-13
    status Active
30. 2018-03-13
    historical Permanently Off Market
31. 2018-03-13
    status Active
32. 2018-03-13
    historical Permanently Off Market
33. 2018-03-13
    status Active
34. 2018-03-13
    historical Permanently Off Market
35. 2018-03-13
    status Active
36. 2018-03-13
    historical Permanently Off Market
37. 2018-03-13
    status Active
38. 2018-03-13
    historical Permanently Off Market
39. 2018-03-13
    status Active
40. 2018-03-13
    historical Permanently Off Market
41. 2018-03-13
    status Active
42. 2018-03-13
    historical Permanently Off Market
43. 2018-03-13
    status Active
44. 2015-06-10
    listed $1,800,000
45. 2015-06-10
    listed $1,800,000
46. 2005-05-12
    soldstatus $700,000
47. 2004-05-28
    soldstatus $460,000
48. 1994-08-01
    soldstatus $90,000
49. 1988-11-03
    soldstatus $281,000
50. 1988-08-10
    soldstatus $75,000

ⓘ 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: $18,353 · $1,529/mo
• Projected year-2 tax: $32,837 · $2,736/mo
• Expected delta: +$14,483/yr (+$1,207/mo · 78.9%)

ⓘ 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 · 14 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: $488,196
• − Mortgage interest: −$156,843
• − Property taxes: −$18,353
• − Insurance: −$14,000
• − Repairs & maintenance: −$39,056
• − Management: −$39,056
• − Depreciation: −$81,455
• Taxable income: $139,433
• Est. tax owed @ 24.0%: −$33,464
• After-tax cash flow: $143,655/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): 76,282
• Household income: $33,186
• Rent vs Own: 95.2% rent · 4.8% own
• Severe rent burden: 10286.0

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 (67%)
• Race & ethnicity: Hispanic / Latino 67% Black 26% Two or more races 17% White 2% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 13% Dominican 41%
• Foreign-born: 44% · Canada, United Kingdom, Jamaica
• Languages at home: 32% English-only · Spanish 58% 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: ▲ 14.52%
• Current HPI: 361.6961
• 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

+3633.3% since first listed

38 events — show timeline

• 2026-04-03 Listed $2,799,999 OneKey® MLS as Distributed by MLS Grid
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2015-06-10 Listed $1,800,000 RLS at REBNY
• 2015-06-10 Listed $1,800,000 RLS at REBNY
• 2005-05-12 Sold (Public Records) $700,000 Public Records
• 2004-05-28 Sold (Public Records) $460,000 Public Records
• 1994-08-01 Sold (Public Records) $90,000 Public Records
• 1988-11-03 Sold (Public Records) $281,000 Public Records
• 1988-08-10 Sold (Public Records) $75,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $18,353 · +3.3% YoY. Source: county tax records.