3044 3rd Ave Unit 6D · New York, NY 10451

$398,979

2 bd · 1.0 ba · 896 sqft · Condo public records · 120 Days on market

Built 2006

---

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 +9.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

JUST LISTED! MOVE-IN READY 2 BEDROOM, 1 BATH CONDO IN BRONX NY 10451! Welcome to this MODERN UNIT offering COMFORT, SECURITY, and CONVENIENCE in one of the BRONX’S most rapidly growing neighborhoods. Featuring a NEW SECURITY SYSTEM, this home provides both peace of mind and style. Enjoy a BRIGHT OPEN LAYOUT with LARGE WINDOWS that fill the space with NATURAL LIGHT. The CONTEMPORARY KITCHEN includes STAINLESS-STEEL APPLIANCES, GRANITE COUNTERTOPS, and AMPLE CABINET STORAGE. The building offers desirable AMENITIES including LAUNDRY, PRIVATE STORAGE, COMMUNITY ROOM, and a BEAUTIFUL COURTYARD for relaxation. Located near MAJOR TRANSPORTATION, RESTAURANTS, CAFÉS, and SHOPPING in the

Key facts

• Large windows
• Contemporary kitchen
• Bright open layout

Tags

• NEW SECURITY SYSTEM
• BRIGHT OPEN LAYOUT
• LARGE WINDOWS
• CONTEMPORARY KITCHEN
• STAINLESS-STEEL APPLIANCES
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: On-street parking
• Security: Security system
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Condominium
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas range; Oven; Refrigerator
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: Open kitchen; Pets allowed; No basement; No attic; Total of 5 rooms
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-282 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $374k (6.3% below list).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.4% 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 (+2.6%/yr); 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,740/mo this rent would consume 116% of the median local household income ($39k/yr) (locally 6917% 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 $5k of equity ($3k loan paydown + $3k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• 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 $363,070 (9.0% 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 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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: 0.94% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.03%
• DSCR: 0.87
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.84×
• Total profit: $-18,206
• Equity at exit: $129,334

10-year hold

• IRR: 1.8%
• Equity multiple: 1.21×
• Total profit: $22,988
• Equity at exit: $166,679

Cash invested: $111,714 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,740 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA est. from 2 same-building comps: −$479
• Vacancy / Maint / Mgmt: −$785
• Net cashflow: $-282

Break-even live

Break-even rent $4,097

Max offer price $358,201

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-144	+0% $-282	+5% $-420	+10% $-558
Rent	-10% $-577	-5% $-430	+0% $-282	+5% $-134	+10% $14
Rate	-1.0pp $-81	-0.5pp $-180	base $-282	+0.5pp $-385	+1.0pp $-490

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: $99,745
• Closing costs: $11,969
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 3rd Ave Bronx, NY	1.0–3.0	1.0–2.0	857	$4,022	$4.69	1d	21	1.25mi
5 Lincoln Ave Bronx, NY	1.0–3.0	1.0–2.5	1011	$5,138	$5.08	0d	181	1.27mi

HOA detail condo

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

Listing history 3 events

1. 2026-04-16
   status Pending
2. 2026-03-13
   status Active
3. 2025-11-17
   listed $398,979 Active

ⓘ 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 7/10 Severe 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: $44,878
• − Mortgage interest: −$22,349
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,590
• − Management: −$3,590
• − HOA: −$5,748
• − Depreciation: −$11,607
• Taxable loss: −$9,986
• Est. tax savings @ 24.0%: +$2,397
• After-tax cash flow: $-985/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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% Arabic 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

3 events — show timeline

• 2026-04-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-17 Listed $398,979 OneKey® MLS as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2025): $136 · -0.0% YoY. Source: county tax records.