609 Kappock St Unit 8G · New York, NY 10463

$208,000

1 bd · 1.0 ba · 850 sqft · Condo · 20 Days on market

Built 1962

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Why this score? — see what drove the B- 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

Key facts

• City skyline view
• Five total closets
• Two small walk-ins

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• THOUGHTFULLY DESIGNED STORAGE
• FIVE TOTAL CLOSETS
• TWO SMALL WALK-INS
• CITY SKYLINE VIEW

🏢 Co-op / cooperative unit. The $208,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $208k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $208k).
• Recommended offer: $205k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: Rents rising fast (+11.6%/yr); 342 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• This rent runs 42% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $58k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 4 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 $179k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $204,880 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.25% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.64%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.33×
• Total profit: $19,124
• Equity at exit: $31,013

10-year hold

• IRR: 21.1%
• Equity multiple: 3.22×
• Total profit: $129,564
• Equity at exit: $17,984

Cash invested: $58,240 (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 10463

• Rents YoY: 11.6%
• Active inventory: 342
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,596 medium
• Mortgage (P&I): −$1,091
• Tax est. 1.5%: −$260 /mo · $3,120/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $613

Break-even live

Break-even rent $1,820

Max offer price $208,000

Occupancy floor 71%

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	21d	3	0.10mi

HOA detail condo

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

Listing history 9 events

1. 2026-03-23
   status Pending
2. 2026-03-03
   listed $208,000 Active
3. 2025-11-22
   listed $239,000 Active
4. 2025-11-17
   historical
5. 2015-10-15
   soldstatus $179,000 Sold 427-char remark

   Show marketing remark (427 chars)

   NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

6. 2015-10-15
   soldstatus $179,000

   Show marketing remark (427 chars)

   NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

7. 2015-08-13
   historical Pending 427-char remark

   Show marketing remark (427 chars)

   NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

8. 2015-07-15
   listed $179,000 Active 427-char remark

   Show marketing remark (427 chars)

   NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

9. 2015-07-15
   listed $179,000

   Show marketing remark (427 chars)

   NO BOARD APPROVAL!! Bright Spacious 1 Bedroom With Large Living Room, Kitchen and Bathroom. 2 Huge Walk In Closets. Entire Apt Freshly Painted. Live In Super. Gorgeous Seasonal Pool (No Fee). Building Is Extremely Well Run With Over 90% Owner Occupancy. Express Bus, Shopping, Restaurants & Post Office Just Across The Street. Close to Parks. Metro North A Short Walk Away. Great Opportunity! This Will Not Last! AS IS

ⓘ 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: $31,153
• − Mortgage interest: −$11,651
• − Property taxes: −$3,120
• − Insurance: −$1,040
• − Repairs & maintenance: −$2,492
• − Management: −$2,492
• − Depreciation: −$6,051
• Taxable income: $4,306
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $6,328/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): 69,470
• Household income: $74,974
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 5586.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 17% Black 12% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 1% Dominican 25%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 40% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -294.75%
• Current HPI: 168.0211
• Rent YoY: ▲ 11.60%
• 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

+16.2% since first listed

9 events — show timeline

• 2026-03-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listed $208,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-22 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-17 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2015-10-15 Sold (MLS) $179,000 HGMLS
• 2015-10-15 Sold (MLS) $179,000 OneKey® MLS as Distributed by MLS Grid
• 2015-08-13 Contingent — HGMLS
• 2015-07-15 Listed $179,000 HGMLS
• 2015-07-15 Listed $179,000 OneKey® MLS as Distributed by MLS Grid