960 E 181st St · New York, NY 10460

$1,000,000

9 bd · 6.0 ba · 4,012 sqft · MultiFamily public records · 291 Days on market

Built 2004 1,840 sqft lot Est $1123k · 11% under

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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 +20.2/30.0
• ARV discount +12.4/15.0
• Appreciation +8.7/10.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Income-Generating Three-Family Home in the Heart of the Bronx! Welcome to 960 East 181st Street – a rare opportunity to own a spacious and fully occupied three-family property in a prime Bronx location. This solid three-level building boasts a total of 9 bedrooms and 6 full bathrooms—with each unit featuring 3 large bedrooms, 2 full bathrooms, a bright living room, separate dining area, and a full kitchen. Ideal for investors or owner-occupants seeking rental income, this income-producing property offers significant cash flow potential. Located just minutes from the Bronx Zoo, public transportation, schools, and shopping, it provides both convenience and long-term value. Whether

Key facts

• Cash flow potential
• Three family home
• Fully occupied

Tags

• THREE FAMILY HOME
• FULLY OCCUPIED
• PRIME LOCATION
• CASH FLOW POTENTIAL
• MINUTES FROM BRONX ZOO
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $1.00M.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $419/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $1.00M).
• Recommended offer: $880k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: 78 active listings in the ZIP; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $10,339/mo this rent would consume 342% of the median local household income ($36k/yr) (locally 7852% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $82k of equity ($7k loan paydown + $75k appreciation (7.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$130k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y ago; this cycle's ask has dropped $100k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $880,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $1,123,360
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2159 Belmont Ave	0.63mi	8/3.0 (-1)	3,540 (-12%)	12mo	$550,000	$155	24
637 Baker Ave	0.74mi	9/3.0	3,520 (-12%)	18mo	$985,000	$280	18

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.64×
• Total profit: $458,160
• Equity at exit: $723,556

10-year hold

• IRR: 21.2%
• Equity multiple: 5.54×
• Total profit: $1,270,078
• Equity at exit: $1,403,063

Cash invested: $280,000 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $10,339 medium
• Mortgage (P&I): −$5,244
• Tax est. 1.5%: −$1,250 /mo · $15,000/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,171
• Net cashflow: $1,257

Break-even live

Break-even rent $8,748

Max offer price $1,000,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$10,338
Total (3 units)			$10,339

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-03-27
   status Pending
2. 2026-01-05
   status Active
3. 2026-01-01
   historical
4. 2025-10-24
   price $1,000,000
5. 2025-06-05
   listed $1,100,000 Active
6. 2023-12-22
   status Pending
7. 2023-12-22
   historical
8. 2023-08-07
   price $950,000
9. 2023-05-23
   price $1,000,000
10. 2023-04-04
    listed $1,100,000 Active
11. 2020-02-19
    historical
12. 2019-09-24
    listed $900,000 Active
13. 2019-06-22
    historical
14. 2019-06-11
    price $905,000
15. 2019-05-04
    price $935,000
16. 2019-04-15
    listed $899,999 Active
17. 2019-03-21
    historical
18. 2018-03-29
    listed $900,000 Active
19. 2017-01-09
    historical Withdrawn
20. 2017-01-09
    historical
21. 2015-08-27
    historical Pending
22. 2015-08-19
    listed Active
23. 2015-08-19
    listed $350,000
24. 2008-05-22
    historical
25. 2008-02-06
    historical
26. 2008-02-06
    listed
27. 2007-11-09
    listed

ⓘ 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 6 d/yr ≥99°F today · 13 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: $124,068
• − Mortgage interest: −$56,016
• − Property taxes: −$15,000
• − Insurance: −$5,000
• − Repairs & maintenance: −$9,925
• − Management: −$9,925
• − Depreciation: −$29,091
• Taxable loss: −$889
• Est. tax savings @ 24.0%: +$213
• After-tax cash flow: $15,298/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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: Predominantly Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 7.46%
• Current HPI: 224.0425
• 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

+185.7% since first listed

27 events — show timeline

• 2026-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $1,000,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-12-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-08-07 Price Changed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-23 Price Changed $1,000,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-04 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-24 Listed $900,000 OneKey® MLS as Distributed by MLS Grid
• 2019-06-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-06-11 Price Changed $905,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-04 Price Changed $935,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-15 Listed $899,999 OneKey® MLS as Distributed by MLS Grid
• 2019-03-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-03-29 Listed $900,000 OneKey® MLS as Distributed by MLS Grid
• 2017-01-09 Delisted — HGMLS
• 2017-01-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-08-27 Contingent — HGMLS
• 2015-08-19 Listed — HGMLS
• 2015-08-19 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2008-05-22 Delisted — HGMLS
• 2008-02-06 Listed — HGMLS
• 2008-02-06 Delisted — HGMLS
• 2007-11-09 Listed — HGMLS

Property tax history

+1.1%/yr

Latest (2025): $1,019 · +0.0% YoY. Source: county tax records.