2023 Belmont Ave Unit 5d · New York, NY 10457

$189,000

2 bd · 1.0 ba · 950 sqft · Condo · 171 Days on market

Built 1912 $700/mo HOA · 23% of rent ↓ 3% since listing

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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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• 5,905 sq ft lot
• Built 1912
• Listed 171 days

Property features AI

Finance

• Other: Parcel number 03080-0041
• HOA & community: Association managed by Veritas Property Mgmt; Association fee $700 monthly

Exterior

• Parking: On-street parking
• Utilities: 220-volt electric service
• Home design: 1-story building; Brick exterior; Excellent condition; Approximate year built
• Construction: Brick construction
• Exterior features: Lot approximately 0.14 acres (about 5,905 sq ft); Lot dimensions about 101 x 44; Zoned R7-1

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Other heating; Cooling with units
• Interior features: Window air conditioning units

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 47 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,099/mo this rent would consume 87% of the median local household income ($43k/yr) (locally 8573% 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 $9k of equity ($1k loan paydown + $8k appreciation (4.3% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, 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 171 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent; built in 1912 — 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 $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.64% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.22×
• Total profit: $64,689
• Equity at exit: $99,116

10-year hold

• IRR: 20.4%
• Equity multiple: 4.33×
• Total profit: $176,008
• Equity at exit: $164,794

Cash invested: $52,920 (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 10457

• Home prices YoY: 2.8%
• Active inventory: 47
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,099 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$700
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $442

Break-even live

Break-even rent $2,539

Max offer price $189,000

Occupancy floor 81%

Sensitivity live

Price	-10% $573	-5% $507	+0% $442	+5% $377	+10% $311
Rent	-10% $197	-5% $320	+0% $442	+5% $565	+10% $687
Rate	-1.0pp $537	-0.5pp $490	base $442	+0.5pp $393	+1.0pp $343

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	0d	1	0.39mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	0.46mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	0.46mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $189,000 Active 171 DOM
2. 2026-06-17
   days on market $189,000 Active 170 DOM
3. 2026-06-15
   days on market $189,000 Active 168 DOM
4. 2026-06-13
   days on market $189,000 Active 166 DOM
5. 2026-06-10
   days on market $189,000 Active 162 DOM
6. 2026-06-08
   days on market $189,000 Active 161 DOM
7. 2026-06-04
   days on market $189,000 Active 157 DOM
8. 2026-06-03
   days on market $189,000 Active 156 DOM
9. 2026-06-01
   days on market $189,000 Active 154 DOM
10. 2026-05-31
    days on market $189,000 Active 153 DOM
11. 2026-05-13
    historical
12. 2026-01-05
    listed $169,000 Active
13. 2025-12-29
    listed $189,000 Active
14. 2025-12-22
    historical $189,000
15. 2022-07-29
    soldstatus $175,000 Closed 587-char remark

    Show marketing remark (587 chars)

    HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

16. 2022-06-19
    status Pending 587-char remark

    Show marketing remark (587 chars)

    HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

17. 2022-03-20
    status Active 587-char remark

    Show marketing remark (587 chars)

    HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

18. 2022-02-14
    status Pending 587-char remark

    Show marketing remark (587 chars)

    HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

19. 2021-11-13
    listed $175,000 Active 587-char remark

    Show marketing remark (587 chars)

    HDFC SALE FROM THE CO-OP Just renovated large 2 bedrooms co-op with a new huge eat-in kitchen, stainless steel appliances, new bathroom, refinished hardwood floors, excellent closet space. Well maintained 6 story elevator building in East Tremont with a live-in super and a laundry room on-premises. The sale is subject to income limits for purchaser(s) as follows for 2021: 1 person: $100,320 2 people: $114,600 3 people: $128,880 4 people: $143,160 The buyer(s) may earn less, but not much more than what is published above Additional Information: HeatingFuel:Oil Above Ground,

ⓘ 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 · 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: $37,189
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,975
• − Management: −$2,975
• − HOA: −$8,400
• − Depreciation: −$5,498
• Taxable income: $2,973
• Est. tax owed @ 24.0%: −$714
• After-tax cash flow: $4,592/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): 79,543
• Household income: $42,683
• Rent vs Own: 94.8% rent · 5.2% own
• Severe rent burden: 8573.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 32% Two or more races 19% White 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 39% · Canada, United Kingdom, Jamaica
• Languages at home: 33% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 4.30%
• Current HPI: 160.6434
• 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

-3.4% since first listed

9 events — show timeline

• 2026-05-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Listed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-29 Listed $189,000 SIBORMLS
• 2025-12-22 Coming Soon $189,000 SIBORMLS
• 2022-07-29 Sold (MLS) $175,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-03-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-02-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-11-13 Listed $175,000 OneKey® MLS as Distributed by MLS Grid