1605 Metropolitan Ave · New York, NY 10462

$279,000

1 bd · 1.0 ba · 801 sqft · Condo · 40 Days on market

Built 1985 Fair condition

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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
• Schools +5.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Cash flow +2.7/30.0
• Condition / age +2.2/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Nice large 1 bedroom , living room, bathroom condo, parkchester Bronx. Close to public transportation. Call 3472807555

Key facts

• Built 1985
• Listed 40 days

Property features AI

Exterior

• Home design: Built in 1985
• Construction: Living area approximately 801
• Exterior features: Located in the Parkchester subdivision

Interior

• Bedrooms: Not specified
• Bathrooms: Not specified

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $279k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (12.8% below list).
• Recommended offer: $243k (12.8% 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.
• Zoned schools: Ps 106 Parkchester (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 889 students, 79% 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: Rents rising fast (+9.4%/yr); 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,434/mo this rent would consume 48% of the median local household income ($61k/yr) (locally 7650% 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 $8k 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 40 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% of rent.
• 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 $243,423 (12.8% 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. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.87% ✗
• Cap rate: 2.22%
• Cash-on-cash: -14.56%
• DSCR: 0.35
• GRM: 9.6

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: -36.3%
• Equity multiple: -0.23×
• Total profit: $-96,303
• Equity at exit: $41,600

10-year hold

• IRR: -19.0%
• Equity multiple: -0.35×
• Total profit: $-105,841
• Equity at exit: $24,123

Cash invested: $78,120 (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 10462

• Home prices YoY: -10.4%
• Rents YoY: 9.4%
• Active inventory: 192
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,434 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 2 same-building comps: −$943
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $-1,015

Break-even live

Break-even rent $3,718

Max offer price $132,198

Occupancy floor —

Sensitivity live

Price	-10% $-822	-5% $-918	+0% $-1,015	+5% $-1,111	+10% $-1,207
Rent	-10% $-1,207	-5% $-1,111	+0% $-1,015	+5% $-918	+10% $-822
Rate	-1.0pp $-874	-0.5pp $-944	base $-1,015	+0.5pp $-1,087	+1.0pp $-1,160

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Pelham Pkwy S Unit B Bronx, NY	1.0	1.0	725	$2,850	$3.93	26d	1	1.24mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-21
   days on market $279,000 Active 40 DOM
2. 2026-06-18
   days on market $279,000 Active 37 DOM
3. 2026-06-17
   days on market $279,000 Active 36 DOM
4. 2026-06-15
   days on market $279,000 Active 34 DOM
5. 2026-06-13
   days on market $279,000 Active 32 DOM
6. 2026-06-10
   days on market $279,000 Active 28 DOM
7. 2026-06-08
   days on market $279,000 Active 27 DOM
8. 2026-06-03
   days on market $279,000 Active 22 DOM
9. 2026-06-01
   days on market $279,000 Active 20 DOM
10. 2026-05-31
    days on market $279,000 Active 19 DOM
11. 2026-05-12
    listed $279,000 Active
12. 2022-07-02
    price $1,600

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $29,211
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$2,192
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − HOA: −$11,316
• − Depreciation: −$8,116
• Taxable loss: −$16,901
• Est. tax savings @ 24.0%: +$4,056
• After-tax cash flow: $-8,118/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 · 2 photos

Fair 45/100 Moderate rehab

The property is in fair condition with significant exterior and landscaping issues. Repainting and landscaping improvements would significantly enhance its value.

Repairs flagged

• Major exterior paint — The brick buildings in the street-level image show significant wear and tear, indicating a need for repainting.
• Minor interior paint — The interior photo shows plain walls with no visible damage or updates, suggesting minor touch-ups might be needed.
• Major landscaping — The street-level image shows a lack of landscaping and a general lack of curb appeal, indicating a need for landscaping improvements.

Value-add opportunities

• Both exterior paint — Repainting the exterior would improve the home's curb appeal and potentially increase its value.
• Both landscaping — Improving the landscaping would enhance the home's curb appeal and potentially increase its value.
• Rental interior paint — Painting the interior would improve the home's appearance and potentially attract renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · The brick buildings in the street-level image show significant wear and tear, indicating a need for repainting.	Major	$15,000–50,000
interior paint · The interior photo shows plain walls with no visible damage or updates, suggesting minor touch-ups might be needed.	Minor	$500–3,000
landscaping · The street-level image shows a lack of landscaping and a general lack of curb appeal, indicating a need for landscaping improvements.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both exterior paint — Repainting the exterior would improve the home's curb appeal and potentially increase its value. ↑
• Both landscaping — Improving the landscaping would enhance the home's curb appeal and potentially increase its value. ↑
• Rental interior paint — Painting the interior would improve the home's appearance and potentially attract renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 76,320
• Household income: $60,966
• Rent vs Own: 76.5% rent · 23.5% own
• Severe rent burden: 7650.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 46% Black 22% Asian 18% White 10% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 17% Dominican 15%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 39% English-only · Spanish 36% Other Indo-European 16% Arabic 3%

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: ▼ -41.59%
• Current HPI: 356.326
• Rent YoY: ▲ 9.43%
• 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

+17337.5% since first listed

2 events — show timeline

• 2026-05-12 Listed $279,000 FSBO.com
• 2022-07-02 Price Changed $1,600 RENT.