933 E 221st St · New York, NY 10469

$425,000

3 bd · 1.0 ba · 1,326 sqft · MultiFamily public records · 179 Days on market

Built 1935 1,988 sqft lot Est $646k · 34% 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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 933 E 221st Street, Bronx, NY 10469—a brick attached single-family residence offered as an unapproved short sale. This 3-bedroom duplex provides a comfortable layout with a full bathroom, living room, formal dining area, and kitchen on the main level. The property includes a full basement equipped with a washer and dryer, offering excellent storage or potential additional space. Outside, enjoy a private backyard and 2-car parking. Conveniently located near shops, transportation, and neighborhood amenities. Home is being sold as-is.

Key facts

• Private backyard
• Full basement
• 2-car parking

Tags

• BRICK ATTACHED RESIDENCE
• FULL BASEMENT
• PRIVATE BACKYARD
• 2-CAR PARKING
• NEIGHBORHOOD AMENITIES

Property features AI

Exterior

• Parking: 2 total parking spaces; Attached parking; Alley access
• Utilities: Public sewer; No additional utilities listed
• Home design: Single-family residence
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator; Stainless steel appliances
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Radiant heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Formal dining; Pantry; Quartz/Quartzite countertops; Recessed lighting; Soaking tub; Washer/dryer hookup; Full walk-out basement
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $16 ($192/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $363k (14.7% below list).
• Recommended offer: $363k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• 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 (+4.3%/yr); 203 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,625/mo this rent would consume 57% of the median local household income ($76k/yr) (locally 3706% 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 $3k of loan paydown is wiped out by about $13k 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 179 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $175k; list at $425k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $362,512 (14.7% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $645,762
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735 E 216th St	0.41mi	4/2.0 (+1)	1,408 (+6%)	10mo	$685,000	$487	53

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 · 4.33% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.47×
• Total profit: $-62,935
• Equity at exit: $63,369

10-year hold

• IRR: -3.9%
• Equity multiple: 0.72×
• Total profit: $-32,769
• Equity at exit: $36,746

Cash invested: $119,000 (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 10469

• Rents YoY: 4.3%
• Active inventory: 203
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,625 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$442 /mo · $5,304/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $16

Break-even live

Break-even rent $3,605

Max offer price $425,000

Occupancy floor 95%

Sensitivity live

Price	-10% $257	-5% $136	+0% $16	+5% $-104	+10% $-225
Rent	-10% $-270	-5% $-127	+0% $16	+5% $159	+10% $302
Rate	-1.0pp $230	-0.5pp $124	base $16	+0.5pp $-94	+1.0pp $-206

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 S 10th Ave Mount Vernon, NY	3.0	1.0	1200	$3,500	$2.92	26d	1	1.46mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	26d	1	1.48mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	6d	1	1.49mi

Listing history 8 events

1. 2026-06-10
   days on market $425,000 Active 179 DOM
2. 2026-06-08
   days on market $425,000 Active 178 DOM
3. 2026-06-04
   days on market $425,000 Active 174 DOM
4. 2026-06-03
   days on market $425,000 Active 173 DOM
5. 2026-06-01
   days on market $425,000 Active 171 DOM
6. 2026-05-31
   days on market $425,000 Active 170 DOM
7. 2025-12-11
   listed $425,000 Active
8. 2003-07-01
   soldstatus $175,000

ⓘ 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: $5,304 · $442/mo
• Projected year-2 tax: $6,243 · $520/mo
• Expected delta: +$939/yr (+$78/mo · 17.7%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,501
• − Mortgage interest: −$23,807
• − Property taxes: −$5,304
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,480
• − Management: −$3,480
• − Depreciation: −$12,364
• Taxable loss: −$7,058
• Est. tax savings @ 24.0%: +$1,694
• After-tax cash flow: $1,886/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): 68,521
• Household income: $76,020
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3706.0

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 0.62)
• Race & ethnicity: Black 54% Hispanic / Latino 27% White 8% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 11% Dominican 9%
• Foreign-born: 37% · Canada, Vietnam, China
• Languages at home: 62% English-only · Spanish 22% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -524.76%
• Current HPI: 321.9213
• Rent YoY: ▲ 4.33%
• 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

+142.9% since first listed

2 events — show timeline

• 2025-12-11 Listed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2003-07-01 Sold (Public Records) $175,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,304 · +6.3% YoY. Source: county tax records.