591 Van Nest Ave · New York, NY 10460

$849,999

None bd · None ba · 11,400 sqft · MultiFamily public records · 41 Days on market

Built 1908 Fair condition 2,375 sqft lot $75/sqft · 79% below area

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Why this score? — see what drove the A- 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
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

VALUE-ADD SIX-UNIT RENT-STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITY Six-unit brick multifamily building in the Van Nest section of the Bronx, currently generating approximately $8,200 per month in rental income. The property offers significant long-term upside through the correction of existing building conditions, legal rent growth, and completion of improvements already underway. The current owner has made substantial investments into the property, with approximately 23 of 36 cited violations addressed and awaiting official clearance.

Key facts

• Rental income
• 2,375 sq ft lot
• Built 1908

Tags

• SIX UNIT BRICK BUILDING
• RENT STABILIZED BUILDING
• RENTAL INCOME
• VIRTUALLY BRAND NEW INTERIOR
• WELL LOCATED MULTIFAMILY ASSET

🏷️ Possibly a rental listed for sale. The $849,999 price doesn't fit this home's estimated sale value (~$2,017,660) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a multifamily listed at $850k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $10k ($120k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $850k).
• Recommended offer: $824k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 2.7% 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: 98 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 68d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $69k of equity ($6k loan paydown + $63k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $238k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$111k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($824k) 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.
• Current owner paid $725k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $824,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.44% ✓
• Cap rate: 20.41%
• Cash-on-cash: 50.41%
• DSCR: 3.24
• GRM: 3.4

CMA / ARV

• ARV (median comp): $2,017,660
• List price: $849,999
• Delta: -57.87%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2525 Wallace Ave	1.56mi	18/12.0	12,300 (+8%)	26mo	$1,500,000	$122	32

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: 60.9%
• Equity multiple: 5.03×
• Total profit: $958,625
• Equity at exit: $615,022

10-year hold

• IRR: 56.6%
• Equity multiple: 10.70×
• Total profit: $2,309,461
• Equity at exit: $1,192,602

Cash invested: $238,000 (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: 98
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $20,710 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$1,552 /mo · $18,618/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,349
• Net cashflow: $9,998

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.5	$20,712
Total (6 units)			$20,710

Break-even live

Break-even rent $8,055

Max offer price $849,999

Occupancy floor 47%

Sensitivity live

Price	-10% $10,479	-5% $10,238	+0% $9,998	+5% $9,757	+10% $9,517
Rent	-10% $8,362	-5% $9,180	+0% $9,998	+5% $10,816	+10% $11,634
Rate	-1.0pp $10,426	-0.5pp $10,214	base $9,998	+0.5pp $9,777	+1.0pp $9,553

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: $212,500
• Closing costs: $25,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	48d	1	0.94mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	400	$3,800	$9.50	63d	1	0.94mi
779 E 183rd St Bronx, NY	3.0	1.0	2415	$3,538	$1.47	7d	1	0.98mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	73d	1	1.09mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	69d	1	1.09mi
665 Thwaites Pl Unit 4C Bronx, NY	2.0	1.0	—	$2,600	—	73d	1	1.10mi
2423 Cambreleng Ave Unit 1B Bronx, NY	1.0	1.0	650	$2,750	$4.23	38d	1	1.23mi
2423 Cambreleng Ave Unit 1A-4 Bronx, NY	1.0	2.0	—	$1,550	—	68d	1	1.23mi
1250 Pelham Pkwy S Unit B Bronx, NY	1.0	1.0	725	$2,850	$3.93	73d	1	1.35mi

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewerElectricity availableNatural gas availableWater available
• Home design: QuadruplexTotal building area approximately 5,700
• Construction: Brick construction
• Exterior features: Brick constructionNot waterfront

Interior

• Heating & cooling: Wall/Window air conditioning unitsNatural gas heatingOther heating
• Interior features: Other interior features

Listing history 50 events

1. 2026-08-06
   days on market $849,999 Active 41 DOM
2. 2026-08-05
   days on market $849,999 Active 40 DOM
3. 2026-08-04
   days on market $849,999 Active 39 DOM
4. 2026-08-03
   days on market $849,999 Active 38 DOM
5. 2026-07-31
   days on market $849,999 Active 35 DOM
6. 2026-07-30
   days on market $849,999 Active 34 DOM
7. 2026-07-30
   days on market $849,999 Active 33 DOM
8. 2026-07-26
   days on market $849,999 Active 30 DOM
9. 2026-07-24
   days on market $849,999 Active 28 DOM
10. 2026-07-23
    remarks 699-char remark
11. 2026-07-23
    days on market $849,999 Active 27 DOM
12. 2026-07-22
    days on market $849,999 Active 26 DOM
13. 2026-07-21
    days on market $849,999 Active 25 DOM
14. 2026-07-20
    days on market $849,999 Active 24 DOM
15. 2026-07-18
    days on market $849,999 Active 22 DOM
16. 2026-07-18
    days on market $849,999 Active 21 DOM
17. 2026-07-16
    days on market $849,999 Active 20 DOM
18. 2026-07-15
    days on market $849,999 Active 19 DOM
19. 2026-07-14
    days on market $849,999 Active 18 DOM
20. 2026-07-14
    days on market $849,999 Active 17 DOM
21. 2026-07-13
    days on market $849,999 Active 16 DOM
22. 2026-07-12
    price $849,999 Active 15 DOM
23. 2026-07-11
    days on market $874,999 Active 15 DOM
24. 2026-07-10
    days on market $874,999 Active 14 DOM
25. 2026-07-09
    days on market $874,999 Active 13 DOM
26. 2026-07-07
    days on market $874,999 Active 11 DOM
27. 2026-07-06
    days on market $874,999 Active 10 DOM
28. 2026-07-06
    days on market $874,999 Active 9 DOM
29. 2026-07-05
    days on market $874,999 Active 8 DOM
30. 2026-07-03
    days on market $874,999 Active 7 DOM
31. 2026-07-02
    days on market $874,999 Active 6 DOM
32. 2026-07-01
    days on market $874,999 Active 5 DOM
33. 2026-06-30
    days on market $874,999 Active 4 DOM
34. 2026-06-29
    days on market $874,999 Active 3 DOM
35. 2026-06-28
    days on market $874,999 Active 2 DOM
36. 2026-06-27
    remarks 689-char remark
37. 2026-06-27
    pricedays on marketlisting id $874,999 Active 1 DOM
38. 2026-06-26
    days on market $999,999 Active 316 DOM
39. 2026-06-24
    days on market $999,999 Active 314 DOM
40. 2026-06-22
    days on market $999,999 Active 312 DOM
41. 2026-06-21
    days on market $999,999 Active 311 DOM
42. 2026-06-18
    days on market $999,999 Active 308 DOM
43. 2026-06-17
    days on market $999,999 Active 307 DOM
44. 2026-06-15
    days on market $999,999 Active 305 DOM
45. 2026-06-13
    days on market $999,999 Active 303 DOM
46. 2026-06-10
    days on market $999,999 Active 299 DOM
47. 2026-06-08
    days on market $999,999 Active 298 DOM
48. 2026-06-03
    days on market $999,999 Active 293 DOM
49. 2026-06-01
    days on market $999,999 Active 291 DOM
50. 2026-05-31
    days on market $999,999 Active 290 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: $18,618 · $1,552/mo
• Projected year-2 tax: $18,618 · $1,552/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $248,520
• − Mortgage interest: −$47,613
• − Property taxes: −$18,618
• − Insurance: −$4,250
• − Repairs & maintenance: −$19,882
• − Management: −$19,882
• − Depreciation: −$24,727
• Taxable income: $113,548
• Est. tax owed @ 24.0%: −$27,252
• After-tax cash flow: $92,721/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $285,000–$513,000 screening

This six-unit brick building requires moderate renovations, including painting, updating appliances, and replacing the HVAC system. Landscaping and exterior maintenance are also needed. The property has rental income potential and could benefit from a fresh paint job to enhance curb appeal.

Components & finishes AI

Roof flat membrane · good

Deferred maintenance Est. $50,500–$152,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Major Windows (windows) — Windows appear old and possibly not sealed properly
• Major Electrical (electrical) — Exposed wiring and outdated electrical panel
• Major Plumbing (plumbing) — Exposed pipes and potential leaks
• Major Exterior (exterior) — Exterior walls appear old and possibly in need of repainting or repair
• Major Other — Overall structure appears old and in need of maintenance

Repairs flagged

• Minor kitchen cabinets — Slight wear and tear.
• Major bathroom fixtures — Outdated and in poor condition.
• Major HVAC system — Appears old and may need replacement.
• Major landscaping — Overgrown and in need of maintenance.

Value-add opportunities

• Both Painting exterior walls — Enhances curb appeal and property value. ↑
• Rental Refrigerator and other appliances — Modernizes kitchen and attracts renters. ↑
• Both HVAC system replacement — Improves comfort and energy efficiency, attracting buyers and renters. ↑
• Both Landscaping and garden maintenance — Enhances curb appeal and attracts buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Ps 105 Senator Abraham Bernstein F NY #1,846/2,108 Nat'l #30,133/41,679 Middle Pelham Academy Of Academics And Community Engagement High Csi High School For International Studies A+ NY #19/1,100 Nat'l #20/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 1,607,353 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: 14% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewerElectricity availableNatural gas availableWater available
• Home design: QuadruplexTotal building area approximately 5,700
• Construction: Brick construction
• Exterior features: Brick constructionNot waterfront

Interior

• Heating & cooling: Wall/Window air conditioning unitsNatural gas heatingOther heating
• Interior features: Other interior features

Price history

+126.7% since first listed

9 events — show timeline

• 2026-07-11 Price Changed $849,999 OneKey® MLS as Distributed by MLS Grid
• 2026-06-26 Listed $874,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $1,099,999 OneKey® MLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $1,149,999 OneKey® MLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $1,199,999 OneKey® MLS as Distributed by MLS Grid
• 2025-08-14 Listed $1,249,999 OneKey® MLS as Distributed by MLS Grid
• 2023-09-19 Sold (Public Records) $725,000 Public Records
• 1999-06-30 Sold (Public Records) $375,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $18,618 · +0.0% YoY. Source: county tax records.