511 W 232nd St Unit E66 · New York, NY 10463

$299,000

2 bd · 1.0 ba · 900 sqft · Condo · 6 Days on market

Built 1937

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Parkside Living at this Coveted Art Deco Gem! Welcome to this newly renovated, pet-friendly two-bedroom residence at The Park Ewen. The spacious corner unit blends Art Deco charm with modern conveniences at a landmark building right across from Ewen Park. Located in the Riverdale/Spuyten Duyvil neighborhoods, it’s on a quiet, one-way street close to local shops, restaurants, & public transportation. Step into an oversized front foyer with built-in bookshelves and plenty of room for dining. A charming archway leads to the large sunken living room, framed by wrought iron railings and tall windows. Gorgeous original hardwood floors - all just sanded and refinished - run throughout the apartment. The windowed kitchen has been nicely renovated with granite counters and stainless steel appliances. There is a dishwasher and purified water fountain filtration system. The primary bedroom is quite large, easily fitting a king size bed with three windows and corner exposures. A second bedroom (junior) is accessible through windowed French doors and could alternately serve as a study, home office, dining room or nursery. The bathroom is sizable and adorned with vintage black and white tile, and there is ample closet space throughout. The entire home has been newly plastered and painted in preparation for its new owner. The Park Ewen is one of the most sought-after addresses in the neighborhood, with two wings connected by a grand lobby. Residents enjoy the convenience of a live-in super, laundry, a bike room, and parking. The pet-friendly cooperative is across from the park and close to the 1 train, Metro North, buses and express buses. It’s nestled between the shopping districts of Johnson Ave, Riverdale Ave, and Broadway, making it easy to access the best of the neighborhoods like Tin Marin, Inner Space Yoga, Moss Cafe, the Riverdale Y Sunday Market, Kingsbridge Social Club, Tibbett Diner, and numerous local favorites. Parking is $80/mo and has a short waitlist. Street parking is otherwise available. * More photos coming soon.

Key facts

• Art deco gem
• Corner unit
• Built-in bookshelves

Tags

• ART DECO GEM
• NEWLY RENOVATED
• PET FRIENDLY
• CORNER UNIT
• OVERSIZED FRONT FOYER
• BUILT-IN BOOKSHELVES

Property features AI

Exterior

• Parking: 1-car garage; Carport: No; Parking features: Waitlist
• Utilities: Public sewer; Electricity available; Sewer available; Water available
• Home design: Stock cooperative
• Construction: Brick and frame construction
• Exterior features: Brick and frame construction; Not waterfront

Interior

• Kitchen: Stainless steel appliances; Granite counters
• Bedrooms: Entry level: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Steam heating; Wall/window air conditioning unit(s)
• Interior features: Granite counters; Stainless steel appliances; Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Cap rate 9.8% 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 (+11.6%/yr); 342 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,725/mo this rent would consume 60% of the median local household income ($75k/yr) (locally 5586% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 14y 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 $240k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $299,000

Questions for the listing agent

1. Built in 1937 — 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: 1.25% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.56%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.32×
• Total profit: $27,111
• Equity at exit: $44,582

10-year hold

• IRR: 21.0%
• Equity multiple: 3.21×
• Total profit: $185,312
• Equity at exit: $25,852

Cash invested: $83,720 (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 10463

• Rents YoY: 11.6%
• Active inventory: 342
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,725 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $876

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,083	-5% $980	+0% $876	+5% $773	+10% $670
Rent	-10% $582	-5% $729	+0% $876	+5% $1,024	+10% $1,171
Rate	-1.0pp $1,027	-0.5pp $952	base $876	+0.5pp $799	+1.0pp $720

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	22d	3	0.42mi
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	1.44mi

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $299,000 Active 6 DOM
2. 2026-06-17
   days on market $299,000 Active 5 DOM
3. 2026-06-16
   days on market $299,000 Active 4 DOM
4. 2026-06-15
   days on market $299,000 Active 3 DOM
5. 2026-06-13
   remarks 689-char remark
6. 2026-06-13
   listed $299,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,700
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,576
• − Management: −$3,576
• − Depreciation: −$8,698
• Taxable income: $6,121
• Est. tax owed @ 24.0%: −$1,469
• After-tax cash flow: $9,048/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): 69,470
• Household income: $74,974
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 5586.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 17% Black 12% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 1% Dominican 25%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 40% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -294.75%
• Current HPI: 168.0211
• Rent YoY: ▲ 11.60%
• 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

+22.0% since first listed

23 events — show timeline

• 2026-06-12 Listed $299,000 RLS at REBNY
• 2026-06-08 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-04 Price Changed $230,000 RLS at REBNY
• 2021-05-19 Listed $240,000 RLS at REBNY
• 2016-09-08 Price Changed $230,000 HGMLS
• 2016-09-08 Sold (MLS) $240,000 HGMLS
• 2016-09-07 Sold (MLS) $240,000 OneKey® MLS as Distributed by MLS Grid
• 2016-09-01 Sold (MLS) $240,000 RLS at REBNY
• 2016-05-25 Contingent — HGMLS
• 2016-05-24 Price Changed $240,000 HGMLS
• 2016-02-24 Listed $230,000 HGMLS
• 2016-02-23 Listed $240,000 RLS at REBNY
• 2016-02-23 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2016-02-23 Listed $240,000 RLS at REBNY
• 2014-04-18 Delisted — HGMLS
• 2014-04-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-21 Price Changed — HGMLS
• 2013-05-29 Price Changed — HGMLS
• 2012-10-20 Listed $252,500 RLS at REBNY
• 2012-10-19 Listed $245,000 RLS at REBNY
• 2012-10-19 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2012-10-19 Listed — HGMLS
• 2012-10-19 Listed $245,000 RLS at REBNY