1346 Elder Ave · New York, NY 10472

$999,000

6 bd · 3.0 ba · 3,100 sqft · MultiFamily public records · 34 Days on market

Built 1920 2,500 sqft lot Est $1070k · 7% under

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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 +24.2/30.0
• ARV discount +10.5/15.0
• DSCR +7.8/10.0
• Appreciation +7.0/10.0
• 1% rule +5.4/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent income generating opportunity with tremendous potential! This well-sized residential three-family property features two spacious 3-bedroom units and one 1-bedroom unit, offering strong rental income possibilities for investors or owner-occupants alike. Additional highlights include a attached 2-car garage and generous living space throughout. Conveniently located and full of upside potential, this property is being sold strictly as-is.

Key facts

• 2,500 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Attached parking; Driveway; 2-car garage
• Utilities: Electric service by Con-Edison; Public sewer; Natural gas connected
• Home design: Triplex; Total building area approximately 3100
• Construction: Block and vinyl siding construction
• Exterior features: Not waterfront; No additional parcels

Interior

• Bedrooms: One 1-bedroom unit; Two 3-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Wall/window air conditioning units
• Interior features: Original details

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $662/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $999k).
• Recommended offer: $969k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: 53 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($7k loan paydown + $41k appreciation (4.1% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $969,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.52%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $1,069,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506 E 172nd St	0.14mi	6/4.0	3,198 (+3%)	2mo	$950,000	$297	83
1238 Colgate Ave	0.25mi	5/2.0 (-1)	2,802 (-10%)	2mo	$835,000	$298	62
1056 Longfellow Ave	0.67mi	7/4.0 (+1)	3,200 (+3%)	1mo	$1,175,000	$367	53
1030 Elder Ave	0.56mi	6/3.0	2,970 (-4%)	20mo	$950,000	$320	50
1032 Longfellow Ave	0.71mi	7/4.0 (+1)	3,200 (+3%)	3mo	$1,200,000	$375	50
990 Jennings St	0.42mi	7/5.0 (+1)	3,300 (+6%)	10mo	$990,000	$300	48
1002 Boynton Ave	0.62mi	6/3.0	2,717 (-12%)	4mo	$985,000	$363	47
1439 Vyse Ave	0.52mi	6/4.0	3,375 (+9%)	18mo	$1,000,000	$296	42
1004 Boynton Ave	0.61mi	7/3.0 (+1)	2,717 (-12%)	5mo	$885,000	$326	41
1337 Commonwealth Ave	0.58mi	6/2.0	2,680 (-14%)	11mo	$1,075,000	$401	37
1438 Saint Lawrence Ave	0.67mi	7/3.0 (+1)	2,880 (-7%)	22mo	$995,000	$345	34
879 Elsmere Pl	0.74mi	7/4.0 (+1)	2,700 (-13%)	8mo	$1,020,000	$378	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.09×
• Total profit: $305,045
• Equity at exit: $511,367

10-year hold

• IRR: 18.7%
• Equity multiple: 4.00×
• Total profit: $839,464
• Equity at exit: $840,282

Cash invested: $279,720 (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 10472

• Home prices YoY: 1.8%
• Active inventory: 53
• Price-to-rent: 24.1×

Monthly cashflow live

• Estimated rent: $10,363 medium
• Mortgage (P&I): −$5,239
• Tax from tax record: −$545 /mo · $6,539/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,176
• Net cashflow: $1,987

Break-even live

Break-even rent $7,848

Max offer price $999,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$10,362
Total (3 units)			$10,363

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-10
   statusdays on market $999,000 Pending 34 DOM
2. 2026-06-08
   days on market $999,000 Active 33 DOM
3. 2026-06-08
   days on market $999,000 Active 32 DOM
4. 2026-06-04
   days on market $999,000 Active 29 DOM
5. 2026-06-03
   days on market $999,000 Active 28 DOM
6. 2026-06-01
   days on market $999,000 Active 26 DOM
7. 2026-05-31
   days on market $999,000 Active 25 DOM
8. 2026-05-07
   listed $999,000 Active
9. 2026-05-01
   historical $999,000

ⓘ 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: $6,539 · $545/mo
• Projected year-2 tax: $11,711 · $976/mo
• Expected delta: +$5,172/yr (+$431/mo · 79.1%)

ⓘ 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 · 15 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: $124,356
• − Mortgage interest: −$55,960
• − Property taxes: −$6,539
• − Insurance: −$4,995
• − Repairs & maintenance: −$9,948
• − Management: −$9,948
• − Depreciation: −$29,062
• Taxable income: $7,903
• Est. tax owed @ 24.0%: −$1,897
• After-tax cash flow: $21,944/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
• City population: 7,731,280
• Population (ZIP): 63,820

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 23% Two or more races 9% Asian 8% White 2% Native American 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 20% Cuban 1% Dominican 20%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 52% Other Indo-European 7% French/Haitian/Cajun 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: ▲ 4.08%
• Current HPI: 236.8002
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-07 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon $999,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $6,539 · +6.3% YoY. Source: county tax records.