640 W 231st St Unit 7E · New York, NY 10463

$215,000

1 bd · 1.0 ba · 700 sqft · Condo · 127 Days on market

Built 1953

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Why this score? — see what drove the D 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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this top-floor one-bedroom residence offering breathtaking sunset views from every room. A generously sized entry foyer opens into a sun-drenched living room with peaceful treetop views and western exposure. Beautiful hardwood floors and detailed moldings run throughout the home. The designer kitchen features 45” cabinetry, subway tile backsplash, granite countertops, and thoughtful finishes. The updated bathroom is tastefully appointed with subway tiles, a cast-iron soaking tub, marble flooring, and marble accents. The spacious bedroom easily accommodates a king-size bed and includes a walk-in closet. Both A/C units are included. Move right into this newly renovated 7th-fl

Key facts

• Designer kitchen
• Walk-in closet
• Top-floor residence

Tags

• TOP-FLOOR RESIDENCE
• BREATHTAKING SUNSET VIEWS
• SUN-DRENCHED LIVING ROOM
• DESIGNER KITCHEN
• UPDATED BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Association: Garthchester

Exterior

• Parking: On-street parking; Parking lot (waitlist)
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: 3 rooms total
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Natural gas heating; Radiant heating; Wall/window air conditioning units
• Interior features: Elevator; Granite counters; Common walk-out basement access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+11.6%/yr); 345 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 39% 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.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $189,200 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.14% ✓
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• GRM: 7.3

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: -13.4%
• Equity multiple: 0.49×
• Total profit: $-30,804
• Equity at exit: $32,057

10-year hold

• IRR: 3.8%
• Equity multiple: 1.36×
• Total profit: $21,878
• Equity at exit: $18,589

Cash invested: $60,200 (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 10463

• Rents YoY: 11.6%
• Active inventory: 345
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,457 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA est. from 1 same-building comp: −$602
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $-147

Break-even live

Break-even rent $2,643

Max offer price $193,744

Occupancy floor —

Sensitivity live

Price	-10% $2	-5% $-73	+0% $-147	+5% $-221	+10% $-295
Rent	-10% $-341	-5% $-244	+0% $-147	+5% $-50	+10% $47
Rate	-1.0pp $-39	-0.5pp $-92	base $-147	+0.5pp $-203	+1.0pp $-259

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: $53,750
• Closing costs: $6,450
• 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	24d	3	0.29mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-21
   days on market $215,000 Active 127 DOM
2. 2026-06-18
   days on market $215,000 Active 124 DOM
3. 2026-06-17
   days on market $215,000 Active 123 DOM
4. 2026-06-15
   days on market $215,000 Active 121 DOM
5. 2026-06-13
   days on market $215,000 Active 119 DOM
6. 2026-06-10
   days on market $215,000 Active 115 DOM
7. 2026-06-08
   days on market $215,000 Active 114 DOM
8. 2026-06-04
   days on market $215,000 Active 110 DOM
9. 2026-06-03
   days on market $215,000 Active 109 DOM
10. 2026-06-01
    days on market $215,000 Active 107 DOM
11. 2026-05-31
    days on market $215,000 Active 106 DOM
12. 2026-02-14
    listed $215,000 Active
13. 2015-03-01
    historical Expired
14. 2015-02-28
    historical
15. 2015-01-04
    listed Active
16. 2015-01-04
    listed $149,900
17. 2014-12-06
    historical Expired
18. 2014-12-05
    historical
19. 2014-06-05
    listed Active
20. 2014-06-05
    listed $149,900
21. 2014-06-05
    listed $149,900
22. 2009-10-21
    historical
23. 2008-12-03
    listed
24. 2008-11-27
    historical
25. 2008-05-27
    listed
26. 2006-07-03
    historical
27. 2006-02-03
    listed

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% 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: $29,482
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,359
• − Management: −$2,359
• − HOA: −$7,224
• − Depreciation: −$6,255
• Taxable loss: −$5,057
• Est. tax savings @ 24.0%: +$1,214
• After-tax cash flow: $-549/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

+43.4% since first listed

16 events — show timeline

• 2026-02-14 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-01 Delisted — HGMLS
• 2015-02-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-01-04 Listed — HGMLS
• 2015-01-04 Listed $149,900 OneKey® MLS as Distributed by MLS Grid
• 2014-12-06 Delisted — HGMLS
• 2014-12-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-06-05 Listed — HGMLS
• 2014-06-05 Listed $149,900 OneKey® MLS as Distributed by MLS Grid
• 2014-06-05 Listed $149,900 RLS at REBNY
• 2009-10-21 Delisted — HGMLS
• 2008-12-03 Listed — HGMLS
• 2008-11-27 Delisted — HGMLS
• 2008-05-27 Listed — HGMLS
• 2006-07-03 Delisted — HGMLS
• 2006-02-03 Listed — HGMLS