4621 Matilda Ave · New York, NY 10470

$1,186,000

24 bd · 16.0 ba · 3,040 sqft · MultiFamily public records · 23 Days on market

Built 1929 2,500 sqft lot

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Why this score? — see what drove the D- 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 +10.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.0/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Brick 4-family with strong income potential. The building features two 2-bedroom apartments and two 1-bedroom apartments, plus a finished basement with a side entrance. Additional features include a shared driveway and parking behind the property. Property is being sold as-is and with all tenants in occupancy.

Key facts

• Finished basement
• Parking behind
• Shared driveway

Tags

• FINISHED BASEMENT
• SHARED DRIVEWAY
• PARKING BEHIND

Property features AI

Exterior

• Parking: Two off-street parking spaces; Shared driveway
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Four full bathrooms
• Heating & cooling: Hot water heating (oil-fired); Wall/window air conditioning units
• Interior features: First-floor bedroom and first-floor full bathroom; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $1.19M.

Deal economics

• At list price, monthly cash flow is $-606 ($-7k/yr) — negative. Per door: $-152/mo.
• To cash-flow at today's rent, offer at most $1.08M (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $941k (20.7% below list).
• Recommended offer: $941k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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: 66 active listings in the ZIP; solid renter incomes; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $9,409/mo this rent would consume 125% of the median local household income ($90k/yr) (locally 805% 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 $8k of loan paydown is wiped out by about $36k 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 23 days — a 2% lower offer ($1.17M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $265k; list at $1.19M implies a 348% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $940,900 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-230,740
• Equity at exit: $176,836

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-250,447
• Equity at exit: $102,544

Cash invested: $332,080 (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 10470

• Home prices YoY: -28.6%
• Active inventory: 66
• Price-to-rent: 40.6×

Monthly cashflow live

• Estimated rent: $9,409 high
• Mortgage (P&I): −$6,220
• Tax from tax record: −$1,326 /mo · $15,906/yr
• Insurance: −$494
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,976
• Net cashflow: $-606

Break-even live

Break-even rent $10,176

Max offer price $1,078,929

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,864
▸ 2× units	1	1	$4,544
Total (4 units)			$9,409

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: $296,500
• Closing costs: $35,580
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $1,186,000 Active 23 DOM
2. 2026-06-17
   days on market $1,186,000 Active 22 DOM
3. 2026-06-16
   days on market $1,186,000 Active 21 DOM
4. 2026-06-15
   days on market $1,186,000 Active 20 DOM
5. 2026-06-13
   days on market $1,186,000 Active 18 DOM
6. 2026-06-10
   days on market $1,186,000 Active 14 DOM
7. 2026-06-08
   days on market $1,186,000 Active 13 DOM
8. 2026-06-08
   days on market $1,186,000 Active 12 DOM
9. 2026-06-04
   days on market $1,186,000 Active 9 DOM
10. 2026-06-03
    days on market $1,186,000 Active 8 DOM
11. 2026-06-02
    days on market $1,186,000 Active 7 DOM
12. 2026-06-01
    days on market $1,186,000 Active 6 DOM
13. 2026-05-31
    days on market $1,186,000 Active 5 DOM
14. 2026-05-26
    listed $1,186,000 Active
15. 1990-03-14
    soldstatus $265,000

ⓘ 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: $15,906 · $1,326/mo
• Projected year-2 tax: $17,975 · $1,498/mo
• Expected delta: +$2,068/yr (+$172/mo · 13.0%)

ⓘ 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: $112,908
• − Mortgage interest: −$66,434
• − Property taxes: −$15,906
• − Insurance: −$5,930
• − Repairs & maintenance: −$9,033
• − Management: −$9,033
• − Depreciation: −$34,502
• Taxable loss: −$27,930
• Est. tax savings @ 24.0%: +$6,703
• After-tax cash flow: $-570/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): 16,004
• Household income: $90,046
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 805.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 30% Hispanic / Latino 24% Two or more races 9% Asian 3% Native American 1%
• Hispanic origin (detail): Puerto Rican 9% Dominican 9%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 32% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 17% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -114.64%
• Current HPI: 286.9195
• 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

+347.5% since first listed

2 events — show timeline

• 2026-05-26 Listed $1,186,000 OneKey® MLS as Distributed by MLS Grid
• 1990-03-14 Sold (Public Records) $265,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $15,906 · +7.6% YoY. Source: county tax records.