1715 Nelson Ave Unit 6C · New York, NY 10453

$138,000

2 bd · 1.0 ba · 875 sqft · Condo · 55 Days on market

Built 1927 Fair condition

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Spacious pre-war two-bedroom. this HDFC co-op bursting with classic charm & light! Oversized rooms, an eat-in kitchen, abundant closets, and beautiful original details throughout offer a timeless foundation ready for your vision. Set in an elevator HFDC building in the heart of Morris Heights, close to Manhattan with easy access to the 4 train, shopping, dining, and major highways. A true opportunity to restore and personalize-bring your creativity! Needs TLC. CASH ONLY! HDFC Maximum Income Requirements: $86,000 for 1 occupant; $102,000 for 2 occupants.

Key facts

• Built 1927
• Listed 55 days

Property features AI

Exterior

• Parking: No carport
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Electric cooktop; Electric oven; Electric range
• Bedrooms: Entry level: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units; Other heating
• Interior features: Eat-in kitchen; Entrance foyer; High ceilings; Natural woodwork; Original details; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $138k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $138k).
• Recommended offer: $134k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.5% 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: 34 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $4,153/mo this rent would consume 150% of the median local household income ($33k/yr) (locally 10286% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($954 loan paydown + $14k appreciation (10.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($134k) 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,860 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 3.01% ✓
• Cap rate: 26.53%
• Cash-on-cash: 72.28%
• DSCR: 4.22
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.0%
• Equity multiple: 6.78×
• Total profit: $223,456
• Equity at exit: $124,321

10-year hold

• IRR: 77.4%
• Equity multiple: 15.02×
• Total profit: $541,595
• Equity at exit: $268,104

Cash invested: $38,640 (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 10453

• Home prices YoY: 4.2%
• Active inventory: 34
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $4,153 medium
• Mortgage (P&I): −$724
• Tax est. 1.5%: −$172 /mo · $2,070/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$872
• Net cashflow: $2,327

Break-even live

Break-even rent $1,207

Max offer price $138,000

Occupancy floor 39%

Sensitivity live

Price	-10% $2,423	-5% $2,375	+0% $2,327	+5% $2,280	+10% $2,232
Rent	-10% $1,999	-5% $2,163	+0% $2,327	+5% $2,491	+10% $2,656
Rate	-1.0pp $2,397	-0.5pp $2,363	base $2,327	+0.5pp $2,292	+1.0pp $2,255

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	25d	1	0.98mi
40 Pinehurst Ave Ph 7B New York, NY	2.0	2.0	1043	$5,200	$4.99	11d	1	1.21mi

HOA detail condo

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

Listing history 5 events

1. 2026-06-03
   statusdays on market $138,000 Pending 55 DOM
2. 2026-06-01
   days on market $138,000 Active 54 DOM
3. 2026-05-31
   days on market $138,000 Active 53 DOM
4. 2026-04-22
   listed $138,000 Active 565-char remark

   Show marketing remark (565 chars)

   Spacious pre-war two-bedroom. this HDFC co-op bursting with classic charm & light! Oversized rooms, an eat-in kitchen, abundant closets, and beautiful original details throughout offer a timeless foundation ready for your vision. Set in an elevator HFDC building in the heart of Morris Heights, close to Manhattan with easy access to the 4 train, shopping, dining, and major highways. A true opportunity to restore and personalize-bring your creativity! Needs TLC. CASH ONLY! HDFC Maximum Income Requirements: $86,000 for 1 occupant; $102,000 for 2 occupants.

5. 2026-04-07
   listed $138,000 Active

ⓘ 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 · 14 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: $49,840
• − Mortgage interest: −$7,730
• − Property taxes: −$2,070
• − Insurance: −$690
• − Repairs & maintenance: −$3,987
• − Management: −$3,987
• − Depreciation: −$4,015
• Taxable income: $27,361
• Est. tax owed @ 24.0%: −$6,567
• After-tax cash flow: $21,363/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 · 10 photos

Fair 45/100 Moderate rehab

This pre-war two-bedroom unit requires moderate renovations to modernize the kitchen and bathroom, and paint touch-ups. The home has potential for significant value increase with these updates.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major kitchen countertops — worn and outdated
• Major kitchen backsplash — dated and in poor condition
• Major bathroom fixtures — basic and outdated
• Major bathroom tile — dated and in poor condition

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
• Both bathroom renovation — updating the bathroom would also boost both resale and rental value
• Both floor refinishing — refinishing the parquet flooring would enhance the home's aesthetic and value
• Both painting — painting the interior walls would improve the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
kitchen countertops · worn and outdated	Major	$15,000–50,000
kitchen backsplash · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · basic and outdated	Major	$15,000–50,000
bathroom tile · dated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value ↑
• Both bathroom renovation — updating the bathroom would also boost both resale and rental value ↑
• Both floor refinishing — refinishing the parquet flooring would enhance the home's aesthetic and value ↑
• Both painting — painting the interior walls would improve the home's appearance and value ↑

ⓘ 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): 76,282
• Household income: $33,186
• Rent vs Own: 95.2% rent · 4.8% own
• Severe rent burden: 10286.0

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: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Black 26% Two or more races 17% White 2% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 13% Dominican 41%
• Foreign-born: 44% · Canada, United Kingdom, Jamaica
• Languages at home: 32% English-only · Spanish 58% French/Haitian/Cajun 2% Other Indo-European 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: ▲ 14.52%
• Current HPI: 361.6961
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-22 Listed $138,000 RLS at REBNY
• 2026-04-07 Listed $138,000 OneKey® MLS as Distributed by MLS Grid