246 Soundview Ave · New York, NY 10473

$690,000

4 bd · 2.0 ba · 1,510 sqft · MultiFamily public records · 47 Days on market

Built 1960 2,256 sqft lot Est $820k · 16% under

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Why this score? — see what drove the C+ 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 +21.9/30.0
• ARV discount +14.6/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Discover This Well-Maintained Two-Family Home! Ideal for investors or those seeking to live in one unit while generating rental income, this property features: Lower Level: A spacious one-bedroom apartment. Upper Duplex: A spacious three-bedroom unit with ample living space for families. Both units come with modern amenities and thoughtful updates, ensuring comfort for all residents. The property also includes a generous two-car (plus one car in the driveway) garage for parking and storage. Enjoy a large backyard that offers endless possibilities for outdoor enjoyment, from gardening to entertaining. Conveniently located near Clason Point on Soundview Avenue, you'll find shops, schools, c

Key facts

• Beautiful view
• Plenty of closets
• Large backyard

Tags

• TWO-FAMILY HOME
• DUPLEX APARTMENT
• PLENTY OF CLOSETS
• LARGE BACKYARD
• BEAUTIFUL VIEW
• THREE AUTOMOBILES PARKING

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $543/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $687k (0.4% below list).
• Recommended offer: $669k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: 141 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 $6,872/mo this rent would consume 157% of the median local household income ($52k/yr) (locally 3913% 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 $5k of loan paydown is wiped out by about $21k 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

• It's been on market 47 days — a 3% lower offer ($669k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $387k; list at $690k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $669,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 1960 — 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. 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.
9. 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.
10. 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: 1.00% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $819,930
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1999 Gildersleeve Ave	0.21mi	4/2.0	1,400 (-7%)	22mo	$690,000	$493	59
421 Leland Ave	0.31mi	5/2.0 (+1)	1,326 (-12%)	12mo	$720,000	$543	50

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

Projected returns pro-forma

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

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-42,786
• Equity at exit: $102,881

10-year hold

• IRR: 3.7%
• Equity multiple: 1.26×
• Total profit: $51,183
• Equity at exit: $59,659

Cash invested: $193,200 (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 10473

• Active inventory: 141
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $6,872 medium
• Mortgage (P&I): −$3,618
• Tax from tax record: −$437 /mo · $5,241/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,443
• Net cashflow: $1,086

Break-even live

Break-even rent $5,497

Max offer price $690,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,477	-5% $1,282	+0% $1,086	+5% $891	+10% $696
Rent	-10% $543	-5% $815	+0% $1,086	+5% $1,358	+10% $1,629
Rate	-1.0pp $1,434	-0.5pp $1,262	base $1,086	+0.5pp $907	+1.0pp $726

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$3,300
1× unit	3	1	$3,572
Total (2 units)			$6,872

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Dune Ct Unit 1 Bronx, NY	4.0	2.5	1600	$4,300	$2.69	25d	1	0.15mi
620 Rosedale Ave Bronx, NY	3.0	1.0	1053	$3,643	$3.46	25d	1	0.70mi

Listing history 9 events

1. 2024-11-14
   status Pending
2. 2024-09-30
   status Active
3. 2024-09-28
   status Active
4. 2024-09-28
   status Active
5. 2024-09-27
   listed $690,000 Active
6. 2022-08-09
   historical
7. 2022-06-27
   listed $699,000 Active
8. 2022-06-25
   historical
9. 2007-01-18
   soldstatus $386,900

ⓘ 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: $5,241 · $437/mo
• Projected year-2 tax: $8,451 · $704/mo
• Expected delta: +$3,210/yr (+$268/mo · 61.3%)

ⓘ 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 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: $82,464
• − Mortgage interest: −$38,651
• − Property taxes: −$5,241
• − Insurance: −$3,450
• − Repairs & maintenance: −$6,597
• − Management: −$6,597
• − Depreciation: −$20,073
• Taxable income: $1,856
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $12,589/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): 58,855
• Household income: $52,462
• Rent vs Own: 71.4% rent · 28.6% own
• Severe rent burden: 3913.0

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 (59%)
• Race & ethnicity: Hispanic / Latino 59% Black 34% Two or more races 12% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 31% Dominican 20%
• Common ancestry: British 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 45% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -212.70%
• Current HPI: 276.2941
• 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

+78.3% since first listed

9 events — show timeline

• 2024-11-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-09-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-09-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-09-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-09-27 Listed $690,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-06-27 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-25 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2007-01-18 Sold (Public Records) $386,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $5,241 · +0.7% YoY. Source: county tax records.