75 W 238th St Unit 3H · New York, NY 10463

$185,000

1 bd · 1.0 ba · 830 sqft · Condo · 55 Days on market

Built 1960 Good condition

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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 +9.1/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

This rare, fully renovated corner one bedroom co op offers approximately 800 square feet of sun drenched modern living in the heart of Van Cortlandt Village. The open concept layout features brand new stainless steel appliances and energy efficient dimmable LED lighting, highlighted by a massive walk in closet conveniently located off the living area. The generously sized bedroom easily accommodates a king size bed and boasts four additional closets, providing exceptional storage throughout. For those who prefer a more traditional look, the owner is happy to change the ceiling color back to white upon request. Situated in a well maintained, pet friendly building with on site laundry, bike s

Key facts

• Fully renovated
• Modern bathroom
• Pet friendly

Tags

• FULLY RENOVATED
• PET FRIENDLY
• CORNER ONE BEDROOM CO OP
• SUN DRENCHED LIVING SPACE
• SPACIOUS OPEN LAYOUT
• MODERN BATHROOM

Property features AI

Exterior

• Parking: 20 garage spaces available; No carport; Parking waitlist
• Utilities: Con-Edison electric service; Public sewer; Cable, electricity and natural gas available
• Home design: Stock cooperative
• Construction: Block and brick construction
• Exterior features: Block and brick construction; Not waterfront; No additional parcels

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 rooms total (entry level 3)
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air conditioning units
• Interior features: Elevator; Pets allowed with breed restrictions; cats and dogs permitted

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $786 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 (+11.6%/yr); 342 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).
• This rent runs 42% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 7 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

• 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 $179,450 (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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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: 1.41% ✓
• Cap rate: 11.39%
• Cash-on-cash: 18.22%
• DSCR: 1.81
• GRM: 5.9

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: 15.4%
• Equity multiple: 1.66×
• Total profit: $33,955
• Equity at exit: $27,584

10-year hold

• IRR: 27.5%
• Equity multiple: 4.03×
• Total profit: $157,083
• Equity at exit: $15,995

Cash invested: $51,800 (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 10463

• Rents YoY: 11.6%
• Active inventory: 342
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,614 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $786

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 65%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	22d	3	0.96mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-10
   days on market $185,000 Active 55 DOM
2. 2026-06-08
   days on market $185,000 Active 54 DOM
3. 2026-06-08
   days on market $185,000 Active 53 DOM
4. 2026-06-04
   days on market $185,000 Active 50 DOM
5. 2026-06-03
   days on market $185,000 Active 49 DOM
6. 2026-06-01
   days on market $185,000 Active 47 DOM
7. 2026-05-31
   days on market $185,000 Active 46 DOM
8. 2026-05-13
   price $185,000
9. 2026-04-15
   listed $189,000 Active
10. 2026-04-11
    historical
11. 2025-11-03
    listed $184,000 Active
12. 2025-10-22
    historical
13. 2025-10-14
    price $184,800
14. 2025-09-30
    status Active
15. 2025-08-06
    status Pending
16. 2025-07-07
    listed $184,900 Active
17. 2025-06-30
    historical
18. 2025-06-27
    status Active
19. 2025-03-18
    status Pending
20. 2025-02-14
    status Active
21. 2025-02-14
    status Pending
22. 2025-01-29
    listed $185,000 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 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: $31,364
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,509
• − Management: −$2,509
• − Depreciation: −$5,382
• Taxable income: $6,901
• Est. tax owed @ 24.0%: −$1,656
• After-tax cash flow: $7,780/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 · 13 photos

Good 80/100 Cosmetic rehab

This fully renovated corner one-bedroom co-op offers modern living with an open concept layout and energy-efficient features. The property is in good condition with minimal maintenance required.

Value-add opportunities

• Both Paint the ceiling white (if requested by the owner) — This would make the space more traditional and potentially increase both resale and rental value
• Both Add a smart thermostat for the HVAC system — This would improve energy efficiency and comfort, enhancing both resale and rental value
• Both Install a smart lock for the front door — This would improve security and convenience, enhancing both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the ceiling white (if requested by the owner) — This would make the space more traditional and potentially increase both resale and rental value ↑
• Both Add a smart thermostat for the HVAC system — This would improve energy efficiency and comfort, enhancing both resale and rental value ↑
• Both Install a smart lock for the front door — This would improve security and convenience, enhancing both resale and rental 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): 69,470
• Household income: $74,974
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 5586.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 17% Black 12% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 1% Dominican 25%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 40% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -294.75%
• Current HPI: 168.0211
• Rent YoY: ▲ 11.60%
• 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

15 events — show timeline

• 2026-05-13 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-03 Listed $184,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-14 Price Changed $184,800 OneKey® MLS as Distributed by MLS Grid
• 2025-09-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Listed $184,900 OneKey® MLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-03-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-02-14 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-02-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-01-29 Listed $185,000 OneKey® MLS as Distributed by MLS Grid