3935 Carpenter Ave · New York, NY 10466

$2,999,000

None bd · None ba · 5,252 sqft · MultiFamily public records · 10 Days on market

Built 2012 2,183 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. 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 MLS

House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

Key facts

• Near subway station
• Multifamily property
• 2,183 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• HIGH INCOME PRODUCING
• MULTIFAMILY PROPERTY
• EASY ACCESS TO LOCAL AMENITIES
• NEAR SUBWAY STATION
• LONG TERM APPRECIATION

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Heating & cooling: Natural gas heating; Other heating; Wall/window air conditioning units
• Interior features: Finished basement; Other interior features

What this means for you Summary

Snapshot

• This is a multifamily listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $15k ($179k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($45k rent vs $3.00M).
• Cap rate 12.3% 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.
• Market conditions: 161 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 $45,103/mo this rent would consume 820% of the median local household income ($66k/yr) (locally 4791% 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 $21k of loan paydown is wiped out by about $90k 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 $840k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago 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.
• Current owner paid $355k; list at $3.00M implies a 745% gain — meaningful room to come down on a strong offer.

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 $2,999,000

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. 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.
5. 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.
6. 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: 1.50% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• GRM: 5.5

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: 13.8%
• Equity multiple: 1.55×
• Total profit: $464,082
• Equity at exit: $447,161

10-year hold

• IRR: 22.6%
• Equity multiple: 2.94×
• Total profit: $1,629,343
• Equity at exit: $259,299

Cash invested: $839,720 (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 10466

• Active inventory: 161
• Price-to-rent: 110.8×

Monthly cashflow live

• Estimated rent: $45,103 medium
• Mortgage (P&I): −$15,727
• Tax est. 1.5%: −$3,749 /mo · $44,985/yr
• Insurance: −$1,250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,472
• Net cashflow: $14,906

Break-even live

Break-even rent $26,235

Max offer price $2,999,000

Occupancy floor 62%

Sensitivity live

Price	-10% $16,978	-5% $15,942	+0% $14,906	+5% $13,870	+10% $12,833
Rent	-10% $11,343	-5% $13,124	+0% $14,906	+5% $16,688	+10% $18,469
Rate	-1.0pp $16,416	-0.5pp $15,669	base $14,906	+0.5pp $14,129	+1.0pp $13,338

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

Units	Beds	Baths	Est. rent
▸ 20× units	2	1	$45,100
Total (20 units)			$45,103

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: $749,750
• Closing costs: $89,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3294 Hull Ave Unit 3 Bronx, NY	3.0	1.0	5040	$3,700	$0.73	0d	1	0.95mi

Listing history 12 events

1. 2026-06-04
   days on market $2,999,000 Active 10 DOM
2. 2026-06-03
   days on market $2,999,000 Active 9 DOM
3. 2026-06-02
   days on market $2,999,000 Active 8 DOM
4. 2026-06-01
   days on market $2,999,000 Active 7 DOM
5. 2026-05-31
   days on market $2,999,000 Active 6 DOM
6. 2026-05-25
   listed $2,999,000 Active
7. 2014-03-15
   price $355,000 341-char remark

   Show marketing remark (341 chars)

   House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

8. 2011-12-14
   soldstatus $355,000
9. 2011-11-17
   historical 341-char remark

   Show marketing remark (341 chars)

   House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

10. 2011-11-16
    soldstatus $355,000 341-char remark

    Show marketing remark (341 chars)

    House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

11. 2011-09-17
    price $399,999 341-char remark

    Show marketing remark (341 chars)

    House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

12. 2011-06-10
    listed $399,999 341-char remark

    Show marketing remark (341 chars)

    House and Garage are in Poor Condition. Property can only be sold to an investor, developer, builder etc. , etc. ,in AS IS Condition on a ALL Cash Basis with NO Bank Fiancing. Zoning is R7-1 and I have obtained a Zoning Analysis on this property from an Architect. This Zoning Analysis can be released to any qualified prospective purchaser.

ⓘ 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 · 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: $541,236
• − Mortgage interest: −$167,991
• − Property taxes: −$44,985
• − Insurance: −$14,995
• − Repairs & maintenance: −$43,299
• − Management: −$43,299
• − Depreciation: −$87,244
• Taxable income: $139,424
• Est. tax owed @ 24.0%: −$33,462
• After-tax cash flow: $145,410/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): 71,116
• Household income: $65,969
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 4791.0

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 0.55)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 7% White 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 12%
• Common ancestry: Hispanic 1%
• Foreign-born: 42% · Canada, Jamaica, United Kingdom
• Languages at home: 67% English-only · Spanish 22% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -314.77%
• Current HPI: 349.542
• 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

+649.8% since first listed

7 events — show timeline

• 2026-05-25 Listed $2,999,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $355,000 HGMLS
• 2011-12-14 Sold (Public Records) $355,000 Public Records
• 2011-11-17 Delisted — HGMLS
• 2011-11-16 Sold (MLS) $355,000 HGMLS
• 2011-09-17 Price Changed $399,999 HGMLS
• 2011-06-10 Listed $399,999 HGMLS

Property tax history

-7.0%/yr

Latest (2025): $980 · -0.0% YoY. Source: county tax records.