2319 Prospect Ave · New York, NY 10458

$650,000

6 bd · 3.0 ba · 2,664 sqft · MultiFamily public records · 88 Days on market

Built 1910 1,568 sqft lot Est $930k · 30% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

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. Bring your vision. This home is

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

Property features AI

Exterior

• Parking: No carport; No dedicated parking
• Utilities: Electric service by Con-Edison; Public sewer
• Home design: Triplex
• Construction: Brownstone construction
• Exterior features: Brownstone construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Oil heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $3k ($39k/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: $611k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: Rents rising fast (+8.0%/yr); 62 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).
• At $9,220/mo this rent would consume 271% of the median local household income ($41k/yr) (locally 10274% 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 $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 88 days — a 6% lower offer ($611k) 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 $611,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.42% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.34%
• DSCR: 1.95
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $929,736
• Comps found: 12

Show comp detail 12 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%)	7mo	$750,000	$314	71
741 E 181st St	0.31mi	7/4.0 (+1)	2,625 (-2%)	11mo	$998,000	$380	65
2305 Bathgate Ave	0.46mi	7/3.0 (+1)	2,652 (-0%)	13mo	$849,999	$321	62
729 E 182nd St	0.17mi	6/4.0	2,820 (+6%)	24mo	$859,000	$305	58
731 E 181 St	0.31mi	6/4.0	3,002 (+13%)	4mo	$1,127,000	$375	57
879 Elsmere Pl	0.69mi	7/4.0 (+1)	2,700 (+1%)	8mo	$1,020,000	$378	50
818 E 179th St	0.53mi	5/4.0 (-1)	2,725 (+2%)	15mo	$950,000	$349	50
766 E 179 St	0.51mi	6/2.5	2,793 (+5%)	22mo	$850,000	$304	48
2079 Honeywell Ave	0.53mi	5/3.0 (-1)	2,368 (-11%)	6mo	$1,180,000	$498	47
2172 Clinton Ave	0.21mi	6/4.0	3,015 (+13%)	22mo	$972,350	$323	46
2077 Honeywell Ave	0.53mi	6/5.0	2,368 (-11%)	6mo	$1,240,000	$524	44
704 E 182nd St	0.21mi	7/4.5 (+1)	3,045 (+14%)	18mo	$950,000	$312	40

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: 34.7%
• Equity multiple: 3.23×
• Total profit: $405,471
• Equity at exit: $369,319

10-year hold

• IRR: 35.4%
• Equity multiple: 7.39×
• Total profit: $1,163,861
• 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 →

ZIP-level market 10458

• Home prices YoY: 3.0%
• Rents YoY: 8.0%
• Active inventory: 62
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $9,220 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$368 /mo · $4,411/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,936
• Net cashflow: $3,237

Break-even live

Break-even rent $5,123

Max offer price $650,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,219
Total (3 units)			$9,220

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
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $650,000 Active 88 DOM
2. 2026-06-17
   days on market $650,000 Active 87 DOM
3. 2026-06-15
   days on market $650,000 Active 85 DOM
4. 2026-06-13
   days on market $650,000 Active 83 DOM
5. 2026-06-10
   days on market $650,000 Active 79 DOM
6. 2026-06-08
   days on market $650,000 Active 78 DOM
7. 2026-06-08
   days on market $650,000 Active 77 DOM
8. 2026-06-04
   days on market $650,000 Active 74 DOM
9. 2026-06-03
   days on market $650,000 Active 73 DOM
10. 2026-06-01
    days on market $650,000 Active 71 DOM
11. 2026-05-31
    days on market $650,000 Active 70 DOM
12. 2026-03-22
    listed $650,000 Active
13. 2014-09-29
    historical
14. 2014-03-04
    historical
15. 2014-03-03
    historical
16. 2013-10-12
    price
17. 2013-09-28
    listed $434,000
18. 2013-09-03
    listed Active
19. 2013-09-03
    listed $435,000
20. 2006-06-20
    soldstatus $520,000
21. 2006-05-30
    historical
22. 2006-03-30
    historical
23. 2005-12-07
    listed
24. 2005-09-12
    listed
25. 2005-07-28
    soldstatus $420,000
26. 2005-02-23
    soldstatus $410,000
27. 2004-12-23
    historical
28. 2004-07-23
    listed
29. 2004-05-27
    soldstatus $220,500
30. 1998-10-19
    soldstatus $220,000
31. 1994-09-22
    soldstatus $110,000
32. 1987-11-30
    soldstatus $110,000

ⓘ 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: $110,640
• − Mortgage interest: −$36,410
• − Property taxes: −$4,411
• − Insurance: −$3,250
• − Repairs & maintenance: −$8,851
• − Management: −$8,851
• − Depreciation: −$18,909
• Taxable income: $29,958
• Est. tax owed @ 24.0%: −$7,190
• After-tax cash flow: $31,651/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): 74,898
• Household income: $40,800
• Rent vs Own: 95.8% rent · 4.2% own
• Severe rent burden: 10274.0

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 (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%

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

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

+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.