2550 Olinville Ave Unit 6K · New York, NY 10467

$359,000

2 bd · 1.0 ba · 900 sqft · Condo · 3 Days on market

Built 1962

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.0/10.0
• Cash flow +4.8/30.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

If you've been looking for the opportunity to near a thriving transportation, shopping and dining hub in the heart of the Allerton section of the Bronx, look no further than Allerville Arms! This newly renovated two bedroom sponsor unit offers the convenience of no board approval, coupled with a monthly maintenance that INCLUDES ALL UTILITIES. As an added bonus, this is a pet friendly building and units can be sub-let. Just some of the upgrades you’ll find in this unit are stylish brand new kitchen cabinets, quartz counters, new appliances, new light fixtures, new flooring throughout the unit, freshly painted and smooth skim-coated walls, base molding, re-grouted bathroom tiles, new v

Key facts

• Quartz counters
• New flooring
• New appliances

Tags

• PET FRIENDLY BUILDING
• BRAND NEW KITCHEN CABINETS
• QUARTZ COUNTERS
• NEW APPLIANCES
• NEW LIGHT FIXTURES
• NEW FLOORING

Property features AI

Finance

• HOA & community: Cooperative (share) ownership

Exterior

• Parking: Assigned parking; Off-street parking; Parking lot; Private parking; Parking fee applicable
• Security: Video cameras
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative; Entry level: 6; Total stories: 18; Not waterfront
• Construction: Brick construction
• Exterior features: Brick exterior; Video cameras (security)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Stainless steel appliances
• Bedrooms: Located on 6th floor or higher
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Other heating
• Interior features: Elevator; Kitchen island; Open floorplan; Open kitchen; Quartz/Quartzite counters; Updated/remodeled condition; Common basement
• Laundry & utility: Common area laundry; Laundry in basement

🏢 Co-op / cooperative unit. The $359,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $-876 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $349k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $306k (14.9% below list).
• Recommended offer: $306k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 3.4% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Ps 96 Richard Rodgers (math 42% / reading 72%, grade C+, #842 of 2,108 statewide, top 43%, 830 students, 85% 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 (+9.2%/yr); 131 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,056/mo this rent would consume 74% of the median local household income ($49k/yr) (locally 10930% 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 $2k of loan paydown is wiped out by about $11k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,573 (14.9% 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. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 0.85% ✗
• Cap rate: 3.36%
• Cash-on-cash: -10.46%
• DSCR: 0.53
• GRM: 9.8

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: -27.3%
• Equity multiple: 0.03×
• Total profit: $-97,270
• Equity at exit: $53,528

10-year hold

• IRR: -10.3%
• Equity multiple: 0.20×
• Total profit: $-80,832
• Equity at exit: $31,040

Cash invested: $100,520 (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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 131
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,056 medium
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• HOA est. from 2 same-building comps: −$809
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $-876

Break-even live

Break-even rent $4,165

Max offer price $232,250

Occupancy floor —

Sensitivity live

Price	-10% $-628	-5% $-752	+0% $-876	+5% $-1,000	+10% $-1,124
Rent	-10% $-1,117	-5% $-997	+0% $-876	+5% $-755	+10% $-635
Rate	-1.0pp $-695	-0.5pp $-785	base $-876	+0.5pp $-969	+1.0pp $-1,064

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Pelham Pkwy S Unit B Bronx, NY	1.0	1.0	725	$2,850	$3.93	26d	1	1.03mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	26d	1	1.17mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.17mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	1d	1	1.30mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-21
   remarks 693-char remark
2. 2026-06-21
   listed $359,000 Active 3 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 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 · 14 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: $36,669
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,934
• − Management: −$2,934
• − HOA: −$9,708
• − Depreciation: −$10,444
• Taxable loss: −$16,639
• Est. tax savings @ 24.0%: +$3,993
• After-tax cash flow: $-6,518/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): 96,421
• Household income: $49,330
• Rent vs Own: 85.8% rent · 14.2% own
• Severe rent burden: 10930.0

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: Hispanic / Latino 53% Black 28% Two or more races 11% White 9% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 22%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 41% English-only · Spanish 45% Other Indo-European 7% 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: ▼ -112.76%
• Current HPI: 231.537
• Rent YoY: ▲ 9.23%
• 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

• 2026-06-18 Listed $359,000 OneKey® MLS as Distributed by MLS Grid