190 E Mosholu Pkwy S Unit 3C

New York, NY 10458

$359,000F

2 bd · 2.0 ba · 1,430 sqft · Built 1939 · Condo · Pending · 195 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,073/mo
• Mortgage (P&I): −$1,883
• Tax + insurance: −$598
• HOA: −$1,740
• Vac / Maint / Mgmt: −$645
• Net cashflow: $-1,793/mo
• Annual: $-21,518/yr
• Cap rate: 0.30%
• Cash-on-cash: -21.41%
• DSCR: 0.05
• 1% rule: 0.86%
• Cash to close: $100,520

Investor read

• This is a 2-bed/2.0-bath condo listed at $359k.
• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (14.4% below list).
• It's been on market 195 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $307k (14.4% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($2k loan paydown + $18k appreciation (5.0% local appreciation)).
• 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.
• Watch-outs: HOA is 57% of rent; built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.0%/yr); 62 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• 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 ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 0.3% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $3,073/mo this rent would consume 90% of the median local household income ($41k/yr) (locally 10274% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 195 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?