2319 Prospect Ave · New York, NY 10458

$650,000

6 bd · 3.0 ba · 2,664 sqft · MultiFamily public records · 137 Days on market

Built 1910 Fair condition 1,568 sqft lot $244/sqft · 51% below area

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

ACCEPTED OFFER. Calling all investors, developers, and builders! SHORT sALE! This development opportunity in an R7-1 zoned district is waiting for you. Don’t miss this rare investment gem located in the heart of the Belmont section of the The Bronx. This spacious three-family property features three residential units. Each floor offers two bedrooms, a living room, dining area, kitchen, and one full bathroom, providing a solid layout with strong potential for value-add improvements or redevelopment. Conveniently located near public transportation, shopping, schools, and major highways, the property offers easy access to surrounding areas and the rest of New York City.

Key facts

• Easy access
• R7-1 zoned district
• Solid layout

Tags

• R7-1 ZONED DISTRICT
• THREE RESIDENTIAL UNITS
• SOLID LAYOUT
• VALUE-ADD IMPROVEMENTS
• EASY ACCESS
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $650k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: Rents rising fast (+8.0%/yr); 82 active listings in the ZIP; 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 $37k of equity ($4k loan paydown + $33k appreciation (5.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $182k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $520k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
11. 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.
12. 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: 1.45% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.42%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (median comp): $1,317,817
• List price: $650,000
• Delta: -50.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304 Prospect Ave	0.04mi	6/2.0	2,390 (-10%)	9mo	$750,000	$314	70
741 E 181st St	0.31mi	7/4.0 (+1)	2,625 (-2%)	13mo	$998,000	$380	63
2305 Bathgate Ave	0.46mi	7/3.0 (+1)	2,652 (-0%)	14mo	$849,999	$321	61
731 E 181 St	0.31mi	6/4.0	3,002 (+13%)	5mo	$1,127,000	$375	56
879 Elsmere Pl	0.69mi	7/4.0 (+1)	2,700 (+1%)	9mo	$1,020,000	$378	49
818 E 179th St	0.53mi	5/4.0 (-1)	2,725 (+2%)	17mo	$950,000	$349	48
766 E 179 St	0.51mi	6/2.5	2,793 (+5%)	23mo	$850,000	$304	47
2079 Honeywell Ave	0.53mi	5/3.0 (-1)	2,368 (-11%)	8mo	$1,180,000	$498	46
2077 Honeywell Ave	0.53mi	6/5.0	2,368 (-11%)	8mo	$1,240,000	$524	42
704 E 182nd St	0.21mi	7/4.5 (+1)	3,045 (+14%)	20mo	$950,000	$312	39

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

Projected returns pro-forma

5.03% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 3.29×
• Total profit: $416,983
• Equity at exit: $369,319

10-year hold

• IRR: 36.3%
• Equity multiple: 7.55×
• Total profit: $1,192,289
• Equity at exit: $638,200

Cash invested: $182,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 10 active · 6 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $1,025,000 ($445/sqft)
• Median days on market: 60 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +11.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 10458

• Home prices YoY: 3.0%
• Rents YoY: 8.0%
• Active inventory: 82
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $9,427 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$368 /mo · $4,411/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,980
• Net cashflow: $3,400

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,426
Total (3 units)			$9,427

Break-even live

Break-even rent $5,123

Max offer price $650,000

Occupancy floor 59%

Sensitivity live

Price	-10% $3,768	-5% $3,584	+0% $3,400	+5% $3,216	+10% $3,032
Rent	-10% $2,656	-5% $3,028	+0% $3,400	+5% $3,773	+10% $4,145
Rate	-1.0pp $3,728	-0.5pp $3,566	base $3,400	+0.5pp $3,232	+1.0pp $3,060

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: $162,500
• Closing costs: $19,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	69d	1	0.05mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	73d	1	0.05mi
779 E 183rd St Bronx, NY	3.0	1.0	2415	$3,538	$1.47	7d	1	0.07mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	48d	1	0.18mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	400	$3,800	$9.50	63d	1	0.18mi
2423 Cambreleng Ave Unit 1B Bronx, NY	1.0	1.0	650	$2,750	$4.23	38d	1	0.23mi
2423 Cambreleng Ave Unit 1A-4 Bronx, NY	1.0	2.0	—	$1,550	—	68d	1	0.23mi
665 Thwaites Pl Unit 4C Bronx, NY	2.0	1.0	—	$2,600	—	73d	1	0.92mi
3071 Perry Ave Bronx, NY	1.0	1.0	—	$2,095	—	73d	1	1.47mi
3071 Perry Ave Unit 2G Bronx, NY	1.0	1.0	—	$2,000	—	73d	1	1.47mi

Property features AI

Exterior

• Parking: No carportNo dedicated parking
• Utilities: Electric service by Con-EdisonPublic sewer
• Home design: Triplex
• Construction: Brownstone construction
• Exterior features: Brownstone constructionNot waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Oil heatingNo central cooling
• Interior features: First-floor bedroomFirst-floor full bathroomEat-in kitchen

Listing history 50 events

1. 2026-08-06
   days on market $650,000 Active 137 DOM
2. 2026-08-05
   days on market $650,000 Active 136 DOM
3. 2026-08-04
   days on market $650,000 Active 135 DOM
4. 2026-08-03
   days on market $650,000 Active 134 DOM
5. 2026-07-31
   days on market $650,000 Active 131 DOM
6. 2026-07-30
   days on market $650,000 Active 130 DOM
7. 2026-07-30
   days on market $650,000 Active 129 DOM
8. 2026-07-26
   days on market $650,000 Active 126 DOM
9. 2026-07-24
   days on market $650,000 Active 124 DOM
10. 2026-07-23
    days on market $650,000 Active 123 DOM
11. 2026-07-22
    days on market $650,000 Active 122 DOM
12. 2026-07-21
    days on market $650,000 Active 121 DOM
13. 2026-07-20
    days on market $650,000 Active 120 DOM
14. 2026-07-18
    days on market $650,000 Active 118 DOM
15. 2026-07-18
    days on market $650,000 Active 117 DOM
16. 2026-07-16
    days on market $650,000 Active 116 DOM
17. 2026-07-14
    days on market $650,000 Active 114 DOM
18. 2026-07-14
    days on market $650,000 Active 113 DOM
19. 2026-07-13
    days on market $650,000 Active 112 DOM
20. 2026-07-11
    days on market $650,000 Active 111 DOM
21. 2026-07-10
    days on market $650,000 Active 110 DOM
22. 2026-07-09
    days on market $650,000 Active 109 DOM
23. 2026-07-07
    days on market $650,000 Active 107 DOM
24. 2026-07-06
    days on market $650,000 Active 106 DOM
25. 2026-07-05
    days on market $650,000 Active 104 DOM
26. 2026-07-03
    days on market $650,000 Active 103 DOM
27. 2026-07-02
    days on market $650,000 Active 102 DOM
28. 2026-07-01
    days on market $650,000 Active 101 DOM
29. 2026-06-30
    days on market $650,000 Active 100 DOM
30. 2026-06-29
    days on market $650,000 Active 99 DOM
31. 2026-06-28
    days on market $650,000 Active 98 DOM
32. 2026-06-27
    days on market $650,000 Active 97 DOM
33. 2026-06-26
    days on market $650,000 Active 96 DOM
34. 2026-06-24
    days on market $650,000 Active 94 DOM
35. 2026-06-22
    days on market $650,000 Active 92 DOM
36. 2026-06-21
    days on market $650,000 Active 91 DOM
37. 2026-06-18
    days on market $650,000 Active 88 DOM
38. 2026-06-17
    days on market $650,000 Active 87 DOM
39. 2026-06-15
    days on market $650,000 Active 85 DOM
40. 2026-06-13
    days on market $650,000 Active 83 DOM
41. 2026-06-10
    days on market $650,000 Active 79 DOM
42. 2026-06-08
    days on market $650,000 Active 78 DOM
43. 2026-06-08
    days on market $650,000 Active 77 DOM
44. 2026-06-04
    days on market $650,000 Active 74 DOM
45. 2026-06-03
    days on market $650,000 Active 73 DOM
46. 2026-06-01
    days on market $650,000 Active 71 DOM
47. 2026-05-31
    days on market $650,000 Active 70 DOM
48. 2026-03-22
    listed $650,000 Active
49. 2014-09-29
    historical
50. 2014-03-04
    historical

ⓘ 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: $4,411 · $368/mo
• Projected year-2 tax: $7,698 · $641/mo
• Expected delta: +$3,287/yr (+$274/mo · 74.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $113,124
• − Mortgage interest: −$36,410
• − Property taxes: −$4,411
• − Insurance: −$3,250
• − Repairs & maintenance: −$9,050
• − Management: −$9,050
• − Depreciation: −$18,909
• Taxable income: $32,044
• Est. tax owed @ 24.0%: −$7,691
• After-tax cash flow: $33,113/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 · 3 photos

Fair 45/100 Moderate rehab Est. rehab $66,600–$119,880 screening

This three-family property in the Belmont section of the Bronx requires moderate rehabilitation, focusing on exterior painting and fencing replacement to improve its curb appeal and overall value.

Deferred maintenance Est. $10,000–$30,000 screening

• Major Exterior (exterior) — The house appears to be under construction or renovation, indicating significant structural changes or repairs are needed.

Repairs flagged

• Major Exterior paint — Peeling paint on the brick facade
• Minor Fencing — Old and worn fencing

Value-add opportunities

• Both Exterior paint — Fresh paint would improve curb appeal and property value ↑
• Both Fencing replacement — A new, attractive fence would enhance the property's appearance and safety ↑

ⓘ 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.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Ps 205 Fiorello Laguardia F NY #1,640/2,108 Nat'l #24,932/41,679 Middle Jhs 118 William W Niles B+ NY #136/729 Nat'l #1,545/14,009 High Fannie Lou Hamer Freedom High School D NY #999/1,100 Nat'l #6,127/17,239

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): 74,898
• Household income: $40,800
• Rent vs Own: 95.8% rent · 4.2% own
• Severe rent burden: 13% 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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Black 16% Two or more races 10% White 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 15% Dominican 34%
• Foreign-born: 41% · Canada, Jamaica, South Korea
• Languages at home: 30% English-only · Spanish 61% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 5.03%
• Current HPI: 173.4217
• Rent YoY: ▲ 8.04%
• 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: No carportNo dedicated parking
• Utilities: Electric service by Con-EdisonPublic sewer
• Home design: Triplex
• Construction: Brownstone construction
• Exterior features: Brownstone constructionNot waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Oil heatingNo central cooling
• Interior features: First-floor bedroomFirst-floor full bathroomEat-in kitchen

Price history

+490.9% since first listed

21 events — show timeline

• 2026-03-22 Listed $650,000 OneKey® MLS as Distributed by MLS Grid
• 2014-09-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-03-04 Delisted — HGMLS
• 2014-03-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-10-12 Price Changed — HGMLS
• 2013-09-28 Listed $434,000 OneKey® MLS as Distributed by MLS Grid
• 2013-09-03 Listed — HGMLS
• 2013-09-03 Listed $435,000 OneKey® MLS as Distributed by MLS Grid
• 2006-06-20 Sold (Public Records) $520,000 Public Records
• 2006-05-30 Delisted — HGMLS
• 2006-03-30 Delisted — HGMLS
• 2005-12-07 Listed — HGMLS
• 2005-09-12 Listed — HGMLS
• 2005-07-28 Sold (Public Records) $420,000 Public Records
• 2005-02-23 Sold (Public Records) $410,000 Public Records
• 2004-12-23 Delisted — HGMLS
• 2004-07-23 Listed — HGMLS
• 2004-05-27 Sold (Public Records) $220,500 Public Records
• 1998-10-19 Sold (Public Records) $220,000 Public Records
• 1994-09-22 Sold (Public Records) $110,000 Public Records
• 1987-11-30 Sold (Public Records) $110,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,411 · +3.9% YoY. Source: county tax records.