9 Fordham Hill Oval Unit 3C · New York, NY 10468

$235,000

2 bd · 1.5 ba · 935 sqft · Condo public records · 25 Days on market

Built 1950 ↓ 20% since listing

---

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

* * * $30,000 buyer incentives toward closing cost or prepaid HOA * * * Move-in ready 2Bedroom co-op in the Fordham Hill oval gated community. Sun filled and very spacious apartment with a nice open layout. Living room open to Dinning are and new modern Galley Kitchen, Generous size Bedrooms, Parquet floors throughout, lots of closets and additional storage if needed. Monthly Maintenance of $1599 includes ALL the utilities ( Gas, Electric, AC, Basic cable, Heat, Hot water, Storage, Gym, Sewer, Upkeep of grounds, Snow and garbage removal, Building insurance). On-site laundry, Super and management. 24-hour security, Playground, Garden with seating area, storage area, fitness center. Sub

Key facts

• Built 1950
• Listed 25 days

Property features AI

Finance

• Other: Building features: bicycle room, outdoor space
• HOA & community: Has association (First residential); Association fees: monthly; Association amenities include elevator(s), fitness center, gated community, landscaping, live-in superintendent, grounds maintenance, playground, security, snow removal, trash; Association fee includes air conditioning, utilities, cable TV, common area maintenance, electricity, exterior maintenance, gas, grounds care, heat, hot water, sewer, snow removal, trash, water

Exterior

• Parking: No carport; Other parking features
• Security: Building security; Gated community; Security gate; Video cameras; Live-in superintendent
• Utilities: Con Edison electric; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; Entry level: 3; Total stories: 16; Located between 3rd and 5th floors
• Construction: Brick construction
• Exterior features: Brick construction; Outdoor space; Not waterfront

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Located between 3rd and 5th floors
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units
• Interior features: Elevator; Open floorplan; Galley-style kitchen; Walk-through kitchen; Storage; Outdoor space; Bicycle room
• Laundry & utility: Common area laundry; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% 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.
• Market conditions: Rents rising fast (+6.7%/yr); 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,054/mo this rent would consume 105% 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 $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, 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 25 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y 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: 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 $231,475 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.78%
• DSCR: 2.28
• GRM: 4.8

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: 33.5%
• Equity multiple: 2.75×
• Total profit: $114,984
• Equity at exit: $74,215

10-year hold

• IRR: 38.4%
• Equity multiple: 6.11×
• Total profit: $336,450
• Equity at exit: $94,133

Cash invested: $65,800 (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: 122
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $4,054 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$851
• Net cashflow: $1,578

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 56%

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: $58,750
• Closing costs: $7,050
• 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	24d	1	0.50mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	22d	3	1.08mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	1.46mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	24d	1	1.46mi

HOA detail condo

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

Listing history 22 events

1. 2026-05-01
   status Pending
2. 2026-04-06
   listed $235,000 Active
3. 2026-03-28
   historical
4. 2026-01-03
   listed $235,500 Active
5. 2026-01-03
   historical
6. 2025-11-18
   status Active
7. 2025-08-11
   status Pending
8. 2025-07-21
   listed $235,500 Active
9. 2025-07-21
   historical
10. 2025-06-18
    status Active
11. 2025-06-13
    historical
12. 2025-06-12
    status Active
13. 2025-06-02
    status Pending
14. 2025-02-25
    status Active
15. 2025-01-27
    status Pending
16. 2025-01-11
    price $235,500
17. 2025-01-10
    listed $235,500 Active
18. 2025-01-09
    historical
19. 2024-12-11
    price $245,000
20. 2024-10-14
    price $269,900
21. 2024-09-16
    price $280,000
22. 2024-08-14
    listed $294,000 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 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: $48,644
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,892
• − Management: −$3,892
• − Depreciation: −$6,836
• Taxable income: $16,161
• Est. tax owed @ 24.0%: −$3,879
• After-tax cash flow: $15,062/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

-20.1% since first listed

22 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-06 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-03 Listed $235,500 OneKey® MLS as Distributed by MLS Grid
• 2025-11-18 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Listed $235,500 OneKey® MLS as Distributed by MLS Grid
• 2025-06-18 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-02-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-01-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-11 Price Changed $235,500 OneKey® MLS as Distributed by MLS Grid
• 2025-01-10 Listed $235,500 OneKey® MLS as Distributed by MLS Grid
• 2025-01-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-12-11 Price Changed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-14 Price Changed $269,900 OneKey® MLS as Distributed by MLS Grid
• 2024-09-16 Price Changed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-14 Listed $294,000 OneKey® MLS as Distributed by MLS Grid