555 Kappock St Unit 2T · New York, NY 10463

$360,000

2 bd · 2.0 ba · 1,134 sqft · Condo public records · 10 Days on market

Built 1966

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Cash flow +2.9/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this bright and generously proportioned 2 bedroom, 2 bath apartment featuring soaring 10 foot ceilings and an exceptional layout designed for comfortable living and entertaining. The expansive living and dining area is filled with natural light from oversized windows, creating an open and airy atmosphere throughout. An added value is the all inclusive monthly maintenance, which covers gas, electric, water, heat, taxes, cable, and internet, offering both convenience and predictable monthly expenses. The thoughtfully designed kitchen offers updated finishes, and ample cabinetry, providing both functionality and style. Both bathrooms have been tastefully updated with contemporary fixtures and finishes, making this home truly move in ready. The oversized bedrooms easily accommodate large furniture and offer tremendous closet space, while abundant storage throughout the apartment ensures a place for everything. Hardwood parquet floors, high ceilings, and classic proportions add warmth and character to the home. Located in a full service building with outstanding amenities, residents enjoy a 24 hour doorman, fitness center, community room, and a beautifully maintained outdoor swimming pool. This residence combines convenience, comfort, and timeless appeal. Commuting is effortless, with express and local bus service right at the building's doorstep, while Metro North and the 1 train are just a short walk away, providing easy access throughout the city and beyond. Rarely do you find a home that offers this much space, storage, and value in a move in ready package. This inviting residence is ready for its next owner to move right in and enjoy all the comfort, convenience, and accessibility it has to offer.

Key facts

• Updated finishes
• Ample cabinetry
• 10 foot ceilings

Tags

• 10 FOOT CEILINGS
• OVERSIZED WINDOWS
• THOUGHTFULLY DESIGNED KITCHEN
• UPDATED FINISHES
• AMPLE CABINETRY
• TASTEFULLY UPDATED BATHROOMS

Property features AI

Exterior

• Parking: Parking lot; Has garage
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; Entry level: 2
• Construction: Brick construction
• Exterior features: Playground; Outdoor pool

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Microwave; Refrigerator
• Bedrooms: Entry level: 2
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating (see remarks); Central air conditioning
• Interior features: Galley-type kitchen; High ceilings; Primary bathroom; Basement (see remarks); 5 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $351k (2.4% below list).
• Recommended offer: $351k (2.4% below list) — sets the bar for 1% rule.

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 $3,512/mo this rent would consume 56% 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 $11k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 21y 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: HOA is 42% of rent.
• 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 $351,232 (2.4% 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. Built in 1966 — 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. 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: 0.98% ✗
• Cap rate: 2.35%
• Cash-on-cash: -14.09%
• DSCR: 0.37
• GRM: 8.5

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: -32.5%
• Equity multiple: -0.13×
• Total profit: $-114,172
• Equity at exit: $53,677

10-year hold

• IRR: -13.8%
• Equity multiple: -0.07×
• Total profit: $-108,084
• Equity at exit: $31,126

Cash invested: $100,800 (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 10463

• Rents YoY: 11.6%
• Active inventory: 342
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,512 medium
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA est. from 2 same-building comps: −$1,470
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $-1,183

Break-even live

Break-even rent $5,010

Max offer price $188,797

Occupancy floor —

Sensitivity live

Price	-10% $-934	-5% $-1,059	+0% $-1,183	+5% $-1,308	+10% $-1,432
Rent	-10% $-1,461	-5% $-1,322	+0% $-1,183	+5% $-1,044	+10% $-906
Rate	-1.0pp $-1,002	-0.5pp $-1,092	base $-1,183	+0.5pp $-1,276	+1.0pp $-1,371

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: $90,000
• Closing costs: $10,800
• 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	0.12mi
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	1.02mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-18
   days on market $360,000 Active 10 DOM
2. 2026-06-17
   days on market $360,000 Active 9 DOM
3. 2026-06-16
   days on market $360,000 Active 8 DOM
4. 2026-06-15
   days on market $360,000 Active 7 DOM
5. 2026-06-13
   days on market $360,000 Active 5 DOM
6. 2026-06-08
   remarks 699-char remark

   Show marketing remark (1742 chars)

   Welcome home to this bright and generously proportioned 2 bedroom, 2 bath apartment featuring soaring 10 foot ceilings and an exceptional layout designed for comfortable living and entertaining. The expansive living and dining area is filled with natural light from oversized windows, creating an open and airy atmosphere throughout. An added value is the all inclusive monthly maintenance, which covers gas, electric, water, heat, taxes, cable, and internet, offering both convenience and predictable monthly expenses. The thoughtfully designed kitchen offers updated finishes, and ample cabinetry, providing both functionality and style. Both bathrooms have been tastefully updated with contemporary fixtures and finishes, making this home truly move in ready. The oversized bedrooms easily accommodate large furniture and offer tremendous closet space, while abundant storage throughout the apartment ensures a place for everything. Hardwood parquet floors, high ceilings, and classic proportions add warmth and character to the home. Located in a full service building with outstanding amenities, residents enjoy a 24 hour doorman, fitness center, community room, and a beautifully maintained outdoor swimming pool. This residence combines convenience, comfort, and timeless appeal. Commuting is effortless, with express and local bus service right at the building's doorstep, while Metro North and the 1 train are just a short walk away, providing easy access throughout the city and beyond. Rarely do you find a home that offers this much space, storage, and value in a move in ready package. This inviting residence is ready for its next owner to move right in and enjoy all the comfort, convenience, and accessibility it has to offer.

7. 2026-06-08
   listed $360,000 Active 1 DOM

   Show marketing remark (1742 chars)

   Welcome home to this bright and generously proportioned 2 bedroom, 2 bath apartment featuring soaring 10 foot ceilings and an exceptional layout designed for comfortable living and entertaining. The expansive living and dining area is filled with natural light from oversized windows, creating an open and airy atmosphere throughout. An added value is the all inclusive monthly maintenance, which covers gas, electric, water, heat, taxes, cable, and internet, offering both convenience and predictable monthly expenses. The thoughtfully designed kitchen offers updated finishes, and ample cabinetry, providing both functionality and style. Both bathrooms have been tastefully updated with contemporary fixtures and finishes, making this home truly move in ready. The oversized bedrooms easily accommodate large furniture and offer tremendous closet space, while abundant storage throughout the apartment ensures a place for everything. Hardwood parquet floors, high ceilings, and classic proportions add warmth and character to the home. Located in a full service building with outstanding amenities, residents enjoy a 24 hour doorman, fitness center, community room, and a beautifully maintained outdoor swimming pool. This residence combines convenience, comfort, and timeless appeal. Commuting is effortless, with express and local bus service right at the building's doorstep, while Metro North and the 1 train are just a short walk away, providing easy access throughout the city and beyond. Rarely do you find a home that offers this much space, storage, and value in a move in ready package. This inviting residence is ready for its next owner to move right in and enjoy all the comfort, convenience, and accessibility it has to offer.

ⓘ 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: $42,148
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,372
• − Management: −$3,372
• − HOA: −$17,640
• − Depreciation: −$10,473
• Taxable loss: −$20,074
• Est. tax savings @ 24.0%: +$4,818
• After-tax cash flow: $-9,380/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

+4.3% since first listed

19 events — show timeline

• 2026-06-08 Listed $360,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-08 Listed $360,000 RLS at REBNY
• 2010-06-13 Delisted — HGMLS
• 2010-06-08 Sold (MLS) $345,000 HGMLS
• 2009-07-13 Listed $345,000 HGMLS
• 2009-06-10 Delisted — HGMLS
• 2009-01-01 Listed — HGMLS
• 2008-09-20 Delisted — HGMLS
• 2008-04-19 Listed — HGMLS
• 2008-04-18 Delisted — HGMLS
• 2008-01-19 Listed — HGMLS
• 2008-01-19 Delisted — HGMLS
• 2007-04-23 Listed — HGMLS
• 2005-12-15 Delisted — HGMLS
• 2005-08-14 Delisted — HGMLS
• 2005-08-14 Delisted — HGMLS
• 2005-07-15 Listed — HGMLS
• 2005-06-14 Listed — HGMLS
• 2005-06-14 Listed — HGMLS