6 Fordham Hill Oval Unit 14B · New York, NY 10468

$240,000

2 bd · 1.0 ba · 975 sqft · Condo · 347 Days on market

Built 1950

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for a Sunny apartment with an open view, here you have it. This terrific corner two bedrooms apartment offers panoramic city views from the 14th floor of the prestigious Fordham Hills Oval Coop bldg. Two generously sized bedrooms, and ample living room area with dinning alcove along the entrance to the renovated Kitchen filled with cabinets. Also features renovated bathroom, generously sized closets, lots of windows and natural light. Fordham Hills Oval is a gated community with beautiful gardens and landscape, centrally locate in west Bronx with access to public transportation, I87 highway, supermarkets, city parks, VA hospital and River Plaza. For more information please call the listing agent, thanks.

Key facts

• Built 1950
• Listed 346 days

Property features AI

Finance

• HOA & community: Association managed by First Service Residential

Exterior

• Parking: No carport
• Utilities: Public sewer; Electricity available; Natural gas available; Public trash collection; Water available
• Home design: Stock cooperative; 16-story building; Unit on 6th floor or higher
• Construction: Other construction materials; Other foundation
• Exterior features: Not waterfront; Gated community; Playground; Fitness center

Interior

• Kitchen: Dishwasher; Galley-style kitchen
• Bedrooms: Unit located on 6th floor or higher
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Elevator; Entrance foyer; Galley kitchen; High-speed internet; Open floor plan
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 (+6.7%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,972/mo this rent would consume 103% of the median local household income ($46k/yr) (locally 9659% 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 $3k of equity ($2k loan paydown + $1k appreciation (0.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 6.7% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 347 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $195k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $211,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 347 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 1950 — 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: 1.65% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.30%
• DSCR: 2.04
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.5% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 2.45×
• Total profit: $97,336
• Equity at exit: $75,794

10-year hold

• IRR: 33.3%
• Equity multiple: 5.44×
• Total profit: $298,484
• Equity at exit: $96,136

Cash invested: $67,200 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,972 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA est. from 2 same-building comps: −$174
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $1,305

Break-even live

Break-even rent $2,320

Max offer price $240,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,471	-5% $1,388	+0% $1,305	+5% $1,222	+10% $1,139
Rent	-10% $991	-5% $1,148	+0% $1,305	+5% $1,462	+10% $1,619
Rate	-1.0pp $1,426	-0.5pp $1,366	base $1,305	+0.5pp $1,243	+1.0pp $1,180

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	0.57mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	23d	3	1.04mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.45mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	1.45mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $240,000 Active 347 DOM
2. 2026-06-18
   days on market $240,000 Active 344 DOM
3. 2026-06-17
   days on market $240,000 Active 343 DOM
4. 2026-06-15
   days on market $240,000 Active 341 DOM
5. 2026-06-13
   days on market $240,000 Active 339 DOM
6. 2026-06-10
   days on market $240,000 Active 335 DOM
7. 2026-06-08
   days on market $240,000 Active 334 DOM
8. 2026-06-03
   days on market $240,000 Active 329 DOM
9. 2026-06-01
   days on market $240,000 Active 327 DOM
10. 2026-05-31
    days on market $240,000 Active 326 DOM
11. 2025-12-29
    price $240,000
12. 2025-07-10
    listed $250,000 Active
13. 2025-07-07
    historical $250,000
14. 2017-06-01
    soldstatus $195,000 721-char remark

    Show marketing remark (721 chars)

    Looking for a Sunny apartment with an open view, here you have it. This terrific corner two bedrooms apartment offers panoramic city views from the 14th floor of the prestigious Fordham Hills Oval Coop bldg. Two generously sized bedrooms, and ample living room area with dinning alcove along the entrance to the renovated Kitchen filled with cabinets. Also features renovated bathroom, generously sized closets, lots of windows and natural light. Fordham Hills Oval is a gated community with beautiful gardens and landscape, centrally locate in west Bronx with access to public transportation, I87 highway, supermarkets, city parks, VA hospital and River Plaza. For more information please call the listing agent, thanks.

15. 2017-05-31
    soldstatus 722-char remark

    Show marketing remark (722 chars)

    Looking for a Sunny apartment with an open view, here you have it. This terrific corner two bedrooms apartment offers panoramic city views from the 14th floor of the prestigious Fordham Hills Oval Coop bldg. Two generously sized bedrooms, and ample living room area with dinning alcove along the entrance to the renovated Kitchen filled with cabinets. Also features renovated bathroom, generously sized closets, lots of windows and natural light. Fordham Hills Oval is a gated community with beautiful gardens and landscape, centrally locate in west Bronx with access to public transportation, I87 highway, supermarkets, city parks, VA hospital and River Plaza. For more information please call the listing agent, thanks.

16. 2016-10-27
    listed $199,000 721-char remark

    Show marketing remark (722 chars)

    Looking for a Sunny apartment with an open view, here you have it. This terrific corner two bedrooms apartment offers panoramic city views from the 14th floor of the prestigious Fordham Hills Oval Coop bldg. Two generously sized bedrooms, and ample living room area with dinning alcove along the entrance to the renovated Kitchen filled with cabinets. Also features renovated bathroom, generously sized closets, lots of windows and natural light. Fordham Hills Oval is a gated community with beautiful gardens and landscape, centrally locate in west Bronx with access to public transportation, I87 highway, supermarkets, city parks, VA hospital and River Plaza. For more information please call the listing agent, thanks.

17. 2016-10-27
    listed $194,000 722-char remark

    Show marketing remark (722 chars)

    Looking for a Sunny apartment with an open view, here you have it. This terrific corner two bedrooms apartment offers panoramic city views from the 14th floor of the prestigious Fordham Hills Oval Coop bldg. Two generously sized bedrooms, and ample living room area with dinning alcove along the entrance to the renovated Kitchen filled with cabinets. Also features renovated bathroom, generously sized closets, lots of windows and natural light. Fordham Hills Oval is a gated community with beautiful gardens and landscape, centrally locate in west Bronx with access to public transportation, I87 highway, supermarkets, city parks, VA hospital and River Plaza. For more information please call the listing agent, thanks.

18. 2014-09-19
    soldstatus
19. 2014-09-19
    soldstatus $150,000
20. 2014-03-06
    listed $150,000
21. 2014-03-06
    listed $179,000

ⓘ 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 · 14 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: $47,659
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,813
• − Management: −$3,813
• − HOA: −$2,088
• − Depreciation: −$6,982
• Taxable income: $12,720
• Est. tax owed @ 24.0%: −$3,053
• After-tax cash flow: $12,607/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): 75,557
• Household income: $46,233
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 9659.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Black 17% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 11% Dominican 45%
• Common ancestry: Hispanic 1%
• Foreign-born: 46% · Canada, Vietnam, Jamaica
• Languages at home: 22% English-only · Spanish 69% 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: ▲ 0.50%
• Current HPI: 249.8923
• Rent YoY: ▲ 6.70%
• 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

+60.0% since first listed

11 events — show timeline

• 2025-12-29 Price Changed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-10 Listed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Coming Soon $250,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-01 Sold (MLS) $195,000 RLS at REBNY
• 2017-05-31 Sold (MLS) — RLS at REBNY
• 2016-10-27 Listed $194,000 RLS at REBNY
• 2016-10-27 Listed $199,000 RLS at REBNY
• 2014-09-19 Sold (MLS) $150,000 RLS at REBNY
• 2014-09-19 Sold (MLS) — RLS at REBNY
• 2014-03-06 Listed $179,000 RLS at REBNY
• 2014-03-06 Listed $150,000 RLS at REBNY