745 E 231 St Unit 1F · New York, NY 10466

$126,500

2 bd · 1.0 ba · 900 sqft · Condo · 224 Days on market

Built 1957 $1156/mo HOA · 43% of rent ↓ 26% since listing

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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 +16.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-Bedroom, 1-Bath Co-op in the Bronx - Great Location! This is a fantastic opportunity. This unit needs a little TLC to bring out its full potential. With a bit of love, this co-op could be the perfect place to call home. Don’t miss out on this chance to customize your space in a prime Bronx location. Conveniently located near public transportation, making your commute a breeze. Close to a variety of restaurants, shops, and local amenities This property is being Sold As Is, Where is, in an upcoming scheduled online auction event. . Seller assumes no responsibility & makes no guarantees, warranties, expressed or implied or representations as to the availability or accur

Key facts

• $1,156 HOA
• Garage
• Built 1957

Property features AI

Finance

• HOA & community: Has association (IMPACT MGT INC); Monthly association fee; Association provides elevator(s) and park; Association fee includes gas, heat, hot water, sewer and water

Exterior

• Parking: On-street parking; Other parking options; Has garage
• Security: Intercom
• Utilities: Electric service by Con Edison; Public sewer; Trash collection (public); Utilities: see remarks
• Home design: Stock cooperative; Entry at first floor/ground floor; Outdoor space; Location described as first floor/ground floor
• Construction: Brick construction
• Exterior features: Brick exterior; Near school, shops, and public transit; No waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: First floor bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Radiant heat; Wall/window air conditioning units; Other heating (see remarks)
• Interior features: First floor bedroom and full bath; Formal dining room; Galley kitchen; Other interior features; Outdoor space (building feature)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $126k.

Deal economics

• At list price, monthly cash flow is $75 ($899/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $126k).
• Recommended offer: $111k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: 161 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,665/mo this rent would consume 48% of the median local household income ($66k/yr) (locally 4791% 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 $875 of loan paydown is wiped out by about $4k 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 224 days — a 12% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $32k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent; built in 1957 — 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 $111,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.11% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.6%
• Equity multiple: 0.58×
• Total profit: $-14,976
• Equity at exit: $18,862

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-3,848
• Equity at exit: $10,937

Cash invested: $35,420 (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 10466

• Active inventory: 161
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,665 high
• Mortgage (P&I): −$663
• Tax est. 1.5%: −$158 /mo · $1,898/yr
• Insurance: −$53
• HOA: −$1,156
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $75

Break-even live

Break-even rent $2,570

Max offer price $126,500

Occupancy floor 92%

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: $31,625
• Closing costs: $3,795
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Wakefield Ave Yonkers, NY	2.0	1.0	850	$3,000	$3.53	43d	2	1.00mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	24d	1	1.07mi
216 1st St Unit 1 Yonkers, NY	1.0	1.0	600	$2,000	$3.33	43d	1	1.17mi
119 S 13th Ave Mount Vernon, NY	2.0	1.0	800	$2,997	$3.75	13d	1	1.18mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	24d	1	1.19mi
255 Bronx River Rd Unit 4R Yonkers, NY	1.0	1.0	800	$2,250	$2.81	24d	1	1.20mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	10d	1	1.27mi
60 Saint Pauls Pl Mount Vernon, NY	3.0	1.0	1100	$3,000	$2.73	24d	1	1.41mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.41mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	17d	1	1.41mi
429 S 3rd Ave Mount Vernon, NY	1.0	1.0	600	$2,300	$3.83	3d	1	1.42mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	24d	1	1.47mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	1.48mi

HOA detail condo

• Monthly dues: $1,156 · $13,872/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-17
   statusdays on market $126,500 Pending 224 DOM
2. 2026-06-15
   days on market $126,500 Active 223 DOM
3. 2026-06-13
   days on market $126,500 Active 221 DOM
4. 2026-06-10
   days on market $126,500 Active 217 DOM
5. 2026-06-08
   days on market $126,500 Active 216 DOM
6. 2026-05-21
   status Active
7. 2026-01-14
   status Pending
8. 2026-01-14
   status Active
9. 2025-12-25
   historical
10. 2025-12-12
    status Active
11. 2025-11-21
    status Pending
12. 2025-10-17
    price $126,500
13. 2025-09-03
    price $132,900
14. 2025-08-16
    price $139,900
15. 2025-07-19
    price $147,000
16. 2025-07-14
    status Active
17. 2025-07-11
    historical
18. 2025-06-12
    price $151,500
19. 2025-06-09
    status Active
20. 2025-06-05
    historical
21. 2025-05-05
    listed $159,000 Active
22. 2024-08-15
    listed $170,000 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 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,977
• − Mortgage interest: −$7,086
• − Property taxes: −$1,898
• − Insurance: −$632
• − Repairs & maintenance: −$2,558
• − Management: −$2,558
• − HOA: −$13,872
• − Depreciation: −$3,680
• Taxable loss: −$308
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $973/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): 71,116
• Household income: $65,969
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 4791.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 7% White 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 12%
• Common ancestry: Hispanic 1%
• Foreign-born: 42% · Canada, Jamaica, United Kingdom
• Languages at home: 67% English-only · Spanish 22% French/Haitian/Cajun 1% 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: ▼ -314.77%
• Current HPI: 349.542
• 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

-25.6% since first listed

17 events — show timeline

• 2026-05-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $126,500 OneKey® MLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $132,900 OneKey® MLS as Distributed by MLS Grid
• 2025-08-16 Price Changed $139,900 OneKey® MLS as Distributed by MLS Grid
• 2025-07-19 Price Changed $147,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-07-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Price Changed $151,500 OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-05 Listed $159,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-15 Listed $170,000 OneKey® MLS as Distributed by MLS Grid