41 Mundy Ave · New York, NY 10310

$839,900

6 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 80 Days on market

Built 1920 3,016 sqft lot Est $808k · at est.

---

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 +15.0/30.0
• ARV discount +5.7/15.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to this charming two-family home ideally located in sought-after Westerleigh. Owned and lovingly maintained by the same family for nearly 40 years, this property reflects true pride of ownership and presents an excellent opportunity for both homeowners and investors. Each unit offers three bedrooms, providing flexibility for a variety of living arrangements. Whether you choose to occupy one unit while generating rental income from the other, or maximize returns by leasing both, this home offers strong income-producing potential. This property also offers a large finished attic, perfect for recreation, a home office, or flexible space. A full basement provides ample storage and futur

Key facts

• 3,016 sq ft lot
• Built 1920
• Listed 80 days

Property features AI

Finance

• Financial info: Two-unit investment property

Exterior

• Parking: On-street parking
• Utilities: 110V electric service; Natural gas; Public water and sewer (typical for area)
• Home design: Multi-family property with 2 total units; 2-story building
• Construction: Vinyl siding; Approximate year built; Total building area reported as 2,040 (unit not included per instructions)
• Exterior features: 29 x 104 lot dimensions; Approximately 0.07 acre (3,016 sq ft) lot; Zoned R3X

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2 (2nd level): 3 bedrooms
• Bathrooms: 2 full bathrooms total (1 in Unit 1; Unit 2 bathroom count implied in total)
• Heating & cooling: Natural gas heating; Hot water heating; Cooling provided by units
• Interior features: Central air conditioning (window/through-the-wall units reported as 'Units'); Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $840k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive. Per door: $129/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $666k (20.7% below list).
• Recommended offer: $666k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 27 Anning S Prall (math 52% / reading 67%, grade B, #161 of 729 statewide, top 24%, 952 students, 76% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 78 active listings in the ZIP; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($790k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $202k; list at $840k implies a 316% gain — meaningful room to come down on a strong offer.

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 $666,000 (20.7% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 21% 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. 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. 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?
10. 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.
11. 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.
12. 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: 0.79% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $807,840
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 Jewett Ave	0.28mi	6/3.0	2,280 (+12%)	1mo	$675,000	$296	63
818 Post Ave	0.39mi	6/2.0	2,250 (+10%)	3mo	$725,000	$322	62
28 Clinton Pl	0.60mi	6/2.5	1,992 (-2%)	6mo	$650,000	$326	61
112 Lexington Ave	0.42mi	5/1.0 (-1)	1,900 (-7%)	11mo	$752,450	$396	51
149 Chandler Ave	0.75mi	5/2.0 (-1)	2,055 (+1%)	12mo	$920,000	$448	49
32 Dickie Ave	0.47mi	5/2.5 (-1)	2,340 (+15%)	5mo	$965,000	$412	43

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

Projected returns pro-forma

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

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-120,097
• Equity at exit: $125,232

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-85,057
• Equity at exit: $72,619

Cash invested: $235,172 (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 10310

• Active inventory: 78
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $6,660 medium
• Mortgage (P&I): −$4,405
• Tax from tax record: −$250 /mo · $2,994/yr
• Insurance: −$350
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,399
• Net cashflow: $257

Break-even live

Break-even rent $6,334

Max offer price $839,900

Occupancy floor 91%

Sensitivity live

Price	-10% $733	-5% $495	+0% $257	+5% $20	+10% $-218
Rent	-10% $-269	-5% $-6	+0% $257	+5% $520	+10% $784
Rate	-1.0pp $680	-0.5pp $471	base $257	+0.5pp $40	+1.0pp $-182

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,660
Total (2 units)			$6,660

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: $209,975
• Closing costs: $25,197
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $839,900 Active 80 DOM
2. 2026-06-18
   days on market $839,900 Active 77 DOM
3. 2026-06-17
   days on market $839,900 Active 76 DOM
4. 2026-06-15
   days on market $839,900 Active 74 DOM
5. 2026-06-13
   days on market $839,900 Active 72 DOM
6. 2026-06-10
   days on market $839,900 Active 68 DOM
7. 2026-06-08
   days on market $839,900 Active 67 DOM
8. 2026-06-08
   days on market $839,900 Active 66 DOM
9. 2026-06-04
   days on market $839,900 Active 63 DOM
10. 2026-06-03
    days on market $839,900 Active 62 DOM
11. 2026-06-01
    days on market $839,900 Active 60 DOM
12. 2026-05-31
    pricedays on market $839,900 Active 59 DOM
13. 2026-04-21
    price $899,000
14. 2026-04-02
    listed $949,000 Active
15. 1987-08-14
    soldstatus $202,000
16. 1985-10-15
    soldstatus $132,500

ⓘ 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: $2,994 · $250/mo
• Projected year-2 tax: $8,594 · $716/mo
• Expected delta: +$5,600/yr (+$467/mo · 187.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $79,920
• − Mortgage interest: −$47,047
• − Property taxes: −$2,994
• − Insurance: −$4,200
• − Repairs & maintenance: −$6,394
• − Management: −$6,394
• − Depreciation: −$24,433
• Taxable loss: −$11,542
• Est. tax savings @ 24.0%: +$2,770
• After-tax cash flow: $5,859/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): 25,824

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 32% Black 19% Two or more races 14% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 12% Dominican 3%
• Common ancestry: Romanian 4% Lithuanian 1% Portuguese 1%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 66% English-only · Spanish 19% Other Indo-European 6% Arabic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -266.57%
• Current HPI: 360.2125
• 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

+578.5% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $899,000 SIBORMLS
• 2026-04-02 Listed $949,000 SIBORMLS
• 1987-08-14 Sold (Public Records) $202,000 Public Records
• 1985-10-15 Sold (Public Records) $132,500 Public Records

Property tax history

-0.8%/yr

Latest (2025): $2,994 · +6.6% YoY. Source: county tax records.