1556 Longfellow Ave · New York, NY 10460

$949,000

4 bd · 3.0 ba · 2,650 sqft · MultiFamily public records · 9 Days on market

Built 1900 Est $925k · at est.

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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 +9.1/30.0
• Appreciation +8.7/10.0
• ARV discount +6.3/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Multi-family units

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

Listing remarks

Well-maintained two-family property offering spacious and functional living areas throughout. The main unit features 3 bedrooms, a living room, dining room, kitchen, and 1 full bathroom. The attic level provides additional bonus space ideal for storage, a home office. The lower level offers a separate living area with 1 bedroom, a living room, kitchen, and 1 full bathroom. This property presents a versatile layout with multiple living spaces and plenty of room to accommodate a variety of needs. With a spacious backyard and 2 car garage as well as 2 car parking infront of property, Great additional income!Conveniently located in the Crotona Park East section of the Bronx, the property offers

Key facts

• Versatile layout
• Spacious backyard
• Separate living area

Tags

• TWO-FAMILY PROPERTY
• SPACIOUS LIVING AREAS
• BONUS SPACE
• SEPARATE LIVING AREA
• VERSATILE LAYOUT
• SPACIOUS BACKYARD

Property features AI

Finance

• Other: No pets allowed in the building
• HOA & community: Monthly association fee

Exterior

• Home design: Two-story building; Entry level at ground floor
• Exterior features: Lot dimensions approximately 25 x 100

Interior

• Bedrooms: Two residential units (total units: 2)
• Bathrooms: 3 full bathrooms
• Interior features: Unfurnished; Total of 13 rooms in the building
• Laundry & utility: Laundry available in-unit; Common area laundry; Building has interior laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $949k.

Deal economics

• At list price, monthly cash flow is $-722 ($-9k/yr) — negative. Per door: $-361/mo.
• To cash-flow at today's rent, offer at most $822k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $638k (32.8% below list).
• Recommended offer: $638k (32.8% below list) — sets the bar for 1% rule.
• 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: Ps 214 (math 30% / reading 50%, grade F, #1,418 of 2,108 statewide, top 68%, 836 students, 92% 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: 78 active listings in the ZIP; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $6,375/mo this rent would consume 211% of the median local household income ($36k/yr) (locally 7852% 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 $77k of equity ($7k loan paydown + $71k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$124k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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.
• Current owner paid $223k; list at $949k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $637,500 (32.8% 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. 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 1900 — 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. 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?
9. 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.
10. 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.
11. 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: 0.67% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.26%
• DSCR: 0.85
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $924,850
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1333 Bronx River Ave	0.24mi	5/2.0 (+1)	2,600 (-2%)	4mo	$875,000	$337	73
1012 E 172 St	0.10mi	4/2.0	2,400 (-9%)	11mo	$795,000	$331	66
1238 Colgate Ave	0.34mi	5/2.0 (+1)	2,802 (+6%)	2mo	$835,000	$298	64
1323 Elder Ave	0.31mi	5/3.0 (+1)	2,560 (-3%)	15mo	$526,000	$205	62
1568 Longfellow Ave	0.03mi	5/3.0 (+1)	2,400 (-9%)	22mo	$840,000	$350	60
1821 Mohegan Ave	0.49mi	5/3.0 (+1)	2,301 (-13%)	12mo	$810,000	$352	40
818 E 179th St	0.75mi	5/4.0 (+1)	2,725 (+3%)	15mo	$950,000	$349	39
2079 Honeywell Ave	0.75mi	5/3.0 (+1)	2,368 (-11%)	6mo	$1,180,000	$498	37
1149 Simpson St	0.60mi	5/3.0 (+1)	2,280 (-14%)	11mo	$965,000	$423	35

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

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.18×
• Total profit: $312,311
• Equity at exit: $686,655

10-year hold

• IRR: 15.8%
• Equity multiple: 4.54×
• Total profit: $939,422
• Equity at exit: $1,331,507

Cash invested: $265,720 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 24.8×

Monthly cashflow live

• Estimated rent: $6,375 medium
• Mortgage (P&I): −$4,977
• Tax from tax record: −$386 /mo · $4,630/yr
• Insurance: −$395
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,339
• Net cashflow: $-722

Break-even live

Break-even rent $7,288

Max offer price $821,520

Occupancy floor —

Sensitivity live

Price	-10% $-184	-5% $-453	+0% $-722	+5% $-990	+10% $-1,259
Rent	-10% $-1,225	-5% $-973	+0% $-722	+5% $-470	+10% $-218
Rate	-1.0pp $-244	-0.5pp $-480	base $-722	+0.5pp $-968	+1.0pp $-1,218

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$6,376
Total (2 units)			$6,375

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: $237,250
• Closing costs: $28,470
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $949,000 Active 9 DOM
2. 2026-06-18
   days on market $949,000 Active 6 DOM
3. 2026-06-17
   days on market $949,000 Active 5 DOM
4. 2026-06-16
   days on market $949,000 Active 4 DOM
5. 2026-06-15
   days on market $949,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $949,000 Active 1 DOM

ⓘ 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: $4,630 · $386/mo
• Projected year-2 tax: $10,334 · $861/mo
• Expected delta: +$5,704/yr (+$475/mo · 123.2%)

ⓘ 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 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: $76,500
• − Mortgage interest: −$53,159
• − Property taxes: −$4,630
• − Insurance: −$4,745
• − Repairs & maintenance: −$6,120
• − Management: −$6,120
• − Depreciation: −$27,607
• Taxable loss: −$25,881
• Est. tax savings @ 24.0%: +$6,211
• After-tax cash flow: $-2,448/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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 (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 7.46%
• Current HPI: 224.0425
• Rent YoY: —
• 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

+325.6% since first listed

4 events — show timeline

• 2026-06-12 Listed $949,000 RLS at REBNY
• 2010-01-06 Delisted — HGMLS
• 2009-08-31 Listed — HGMLS
• 1998-07-07 Sold (Public Records) $223,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $4,630 · +9.0% YoY. Source: county tax records.