1420 Leland Ave · New York, NY 10460

$1,325,000

12 bd · 4.0 ba · 3,172 sqft · MultiFamily public records · 6 Days on market

Built 1924 3,060 sqft lot Est $1183k · 12% over

---

Why this score? — see what drove the C 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 +21.3/30.0
• Appreciation +8.7/10.0
• DSCR +6.8/10.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0

Multi-family units

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

Listing remarks

Welcome to 1420 Leland Ave – A standout 4-family brick beauty that’s been thoughtfully updated and ready to generate serious income. This solid, spacious multi-family home features four well-laid-out units: three generous 3-bedroom apartments and one comfortable 2-bedroom apartment. The first-floor units each enjoy their own private entrances for maximum convenience and privacy. Downstairs, you’ll find a massive, full walk-out basement with its own separate entrance—perfect for extra storage, a shared laundry setup, or future expansion into additional living space. Out back, there’s a sizable yard and parking for at least two vehicles via a shared driveway. The

Key facts

• Sizable yard
• Private entrances
• Flexible layouts

Tags

• PRIVATE ENTRANCES
• FULL WALK-OUT BASEMENT
• SIZABLE YARD
• FLEXIBLE LAYOUTS
• CLASSIC BRICK CONSTRUCTION

Property features AI

Finance

• Other: Property listed as a triplex (income potential as multi-unit property)

Exterior

• Parking: Attached parking; Driveway; Common parking; 2-space carport
• Utilities: Con-Edison electricity; Natural gas connected; Public water; Public sewer; Cable connected; Phone connected; Trash collection (public)
• Home design: Triplex (multi-unit building); Total building area approximately 3,172
• Construction: Brick exterior; Finished full basement with walk-out access
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Walk-through kitchen (features not further detailed)
• Bedrooms: Three 3-bedroom units and one 2-bedroom unit (multi-unit configuration)
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; High ceilings; Storage; Walk-through kitchen
• Laundry & utility: Basement with finished space and walk-out access (may accommodate utilities/laundry)

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.32M).
• Cap rate 8.0% 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 $13,775/mo this rent would consume 455% 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 $108k of equity ($9k loan paydown + $99k 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 $371k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$173k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $950k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,325,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.04% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $1,183,156
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1964 Cross Bronx Expy	0.41mi	12/3.0	3,285 (+4%)	11mo	$1,225,000	$373	62
622 Mead St	0.45mi	11/5.0 (-1)	3,072 (-3%)	21mo	$1,060,000	$345	48
620 Mead St	0.45mi	11/7.0 (-1)	3,060 (-4%)	23mo	$1,167,500	$382	37

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: 23.5%
• Equity multiple: 2.67×
• Total profit: $620,026
• Equity at exit: $958,712

10-year hold

• IRR: 21.6%
• Equity multiple: 5.61×
• Total profit: $1,710,592
• Equity at exit: $1,859,058

Cash invested: $371,000 (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: 32.1×

Monthly cashflow live

• Estimated rent: $13,775 medium
• Mortgage (P&I): −$6,948
• Tax from tax record: −$1,445 /mo · $17,337/yr
• Insurance: −$552
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,893
• Net cashflow: $1,871

Break-even live

Break-even rent $11,407

Max offer price $1,325,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$13,776
Total (4 units)			$13,775

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: $331,250
• Closing costs: $39,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-16
   days on market $1,325,000 Active 6 DOM
2. 2026-06-15
   days on market $1,325,000 Active 5 DOM
3. 2026-06-13
   remarks 669-char remark
4. 2026-06-13
   listed $1,325,000 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $17,337 · $1,445/mo
• Projected year-2 tax: $19,865 · $1,655/mo
• Expected delta: +$2,528/yr (+$211/mo · 14.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $165,300
• − Mortgage interest: −$74,221
• − Property taxes: −$17,337
• − Insurance: −$7,423
• − Repairs & maintenance: −$13,224
• − Management: −$13,224
• − Depreciation: −$38,545
• Taxable income: $1,326
• Est. tax owed @ 24.0%: −$318
• After-tax cash flow: $22,128/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

+579.5% since first listed

8 events — show timeline

• 2026-06-10 Listed $1,325,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Price Changed $1,550,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-15 Listed $1,650,000 OneKey® MLS as Distributed by MLS Grid
• 2023-01-25 Sold (Public Records) $950,000 Public Records
• 2022-03-02 Sold (Public Records) $900,000 Public Records
• 2010-04-08 Sold (Public Records) $500,000 Public Records
• 1987-07-23 Sold (Public Records) $195,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $17,337 · +3.3% YoY. Source: county tax records.