938 Fteley Ave Apt 2 · New York, NY 10473

$3,777

3 bd · 2.5 ba · 2,280 sqft · Manufactured · 16 Days on market

Built 2007 986 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this beautiful 3-bedroom, 2-bath apartment located on the second floor, designed to offer comfort, space, and a modern city lifestyle. Well-distributed layout, plenty of natural light, and a warm inviting atmosphere that truly feels like home from the moment you walk in. Convenient location close to transportation, schools, shopping, and everything you need for your daily life. Don’t miss this opportunity… homes like this don’t stay on the market for long!Discover this beautiful 3-bedroom, 2-bath apartment located on the second floor, designed to offer comfort, space, and a modern city lifestyle. Well-distributed layout, plenty of natural light, and a warm inviti

Key facts

• Close to schools
• Natural light
• Convenient location

Tags

• NATURAL LIGHT
• CONVENIENT LOCATION
• CLOSE TO TRANSPORTATION
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Parking: Driveway; No carport
• Utilities: Public sewer; No utilities listed
• Home design: Manufactured on land
• Construction: Advanced framing technique
• Exterior features: Advanced framing construction; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator; Stainless steel appliances
• Bedrooms: 7 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Other heating; No central cooling
• Interior features: Finished attic; Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $4k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $4k).
• Recommended offer: $4k (1.5% below list) — sets the bar for market timing.
• Cap rate 924.4% 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: 141 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).
• At $3,691/mo this rent would consume 84% of the median local household income ($52k/yr) (locally 3913% 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 $26 of loan paydown is wiped out by about $113 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 + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($4k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $3,720 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 97.72% ✓
• Cap rate: 924.42%
• Cash-on-cash: 3279.01%
• DSCR: 146.90
• GRM: 0.1

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: —
• Equity multiple: 174.51×
• Total profit: $183,496
• Equity at exit: $563

10-year hold

• IRR: —
• Equity multiple: 376.40×
• Total profit: $397,009
• Equity at exit: $327

Cash invested: $1,058 (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 10473

• Active inventory: 141
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $3,691 medium
• Mortgage (P&I): −$20
• Tax est. 1.5%: −$5 /mo · $57/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$775
• Net cashflow: $2,890

Break-even live

Break-even rent $33

Max offer price $3,777

Occupancy floor 17%

Sensitivity live

Price	-10% $2,892	-5% $2,891	+0% $2,890	+5% $2,888	+10% $2,887
Rent	-10% $2,598	-5% $2,744	+0% $2,890	+5% $3,036	+10% $3,181
Rate	-1.0pp $2,892	-0.5pp $2,891	base $2,890	+0.5pp $2,889	+1.0pp $2,888

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: $944
• Closing costs: $113
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Dune Ct Unit 1 Bronx, NY	4.0	2.5	1600	$4,300	$2.69	25d	1	1.27mi

Listing history 10 events

1. 2026-06-21
   days on market $3,777 Active 16 DOM
2. 2026-06-18
   days on market $3,777 Active 13 DOM
3. 2026-06-17
   days on market $3,777 Active 12 DOM
4. 2026-06-16
   days on market $3,777 Active 11 DOM
5. 2026-06-15
   days on market $3,777 Active 10 DOM
6. 2026-06-13
   days on market $3,777 Active 8 DOM
7. 2026-06-09
   days on market $3,777 Active 4 DOM
8. 2026-06-08
   days on market $3,777 Active 3 DOM
9. 2026-06-07
   remarks 680-char remark
10. 2026-06-07
    listed $3,777 Active 2 DOM

ⓘ 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 6/10 Major FEMA zone X (shaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,292
• − Mortgage interest: −$212
• − Property taxes: −$57
• − Insurance: −$19
• − Repairs & maintenance: −$3,543
• − Management: −$3,543
• − Depreciation: −$110
• Taxable income: $36,808
• Est. tax owed @ 24.0%: −$8,834
• After-tax cash flow: $25,844/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): 58,855
• Household income: $52,462
• Rent vs Own: 71.4% rent · 28.6% own
• Severe rent burden: 3913.0

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: Majority Hispanic (59%)
• Race & ethnicity: Hispanic / Latino 59% Black 34% Two or more races 12% Asian 2% White 2%
• Hispanic origin (detail): Puerto Rican 31% Dominican 20%
• Common ancestry: British 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 45% Other Indo-European 1% 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: ▼ -212.70%
• Current HPI: 276.2941
• 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

1 event — show timeline

• 2026-06-05 Listed $3,777 OneKey® MLS as Distributed by MLS Grid