841 Courtlandt Ave · New York, NY 10451

$1,050,000

6 bd · 3.9 ba · 2,754 sqft · MultiFamily public records · 291 Days on market

Built 2004 2,369 sqft lot Est $834k · 26% over ↓ 9% since listing

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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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +5.6/10.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

3-Family Opportunity with Parking and Backyard (Home Business Potential) Located on an oversized, irregular lot in one of the Bronx’s most rapidly developing neighborhoods, this fully legal three-family residence offering exceptional versatility for investors, homeowners, and professionals alike. Whether you’re seeking an owner-occupied investor home with strong rental income or a home base for your business - this property delivers. Key Property Features: • Flexible Use • Gated Driveway • Expansive Backyard.

Key facts

• 3-family opportunity
• Backyard
• Parking

Tags

• 3-FAMILY OPPORTUNITY
• PARKING
• BACKYARD
• GATED DRIVEWAY
• EXPANSIVE BACKYARD

Property features AI

Exterior

• Parking: Detached parking; Space for 2 cars
• Utilities: Public sewer; Sewer available; Public trash collection; Water available
• Home design: Triplex
• Construction: Brick and frame construction
• Exterior features: Brick and frame construction; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Hardwood
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Other heating; Wall/window air conditioning units
• Interior features: Other interior features; Hardwood flooring; No basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $756/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1.05M).
• Recommended offer: $924k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Rents rising (+2.6%/yr); 69 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 $11,173/mo this rent would consume 346% of the median local household income ($39k/yr) (locally 6917% 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 $14k of equity ($7k loan paydown + $7k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 2.6% rent growth), your $294k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$69k 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 ($924k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $924,000 (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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.06% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $834,462
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
738 Elton Ave	0.29mi	5/3.0 (-1)	2,400 (-13%)	2mo	$990,000	$413	54
299 E 150th St	0.50mi	7/3.0 (+1)	2,970 (+8%)	2mo	$875,000	$295	53
694 Saint Anns Ave	0.50mi	5/3.5 (-1)	2,820 (+2%)	17mo	$975,000	$346	52
1049 Trinity Ave	0.63mi	6/3.0	2,655 (-4%)	13mo	$700,000	$264	50
784 Elton Ave	0.23mi	7/3.0 (+1)	3,036 (+10%)	19mo	$920,000	$303	48
644 St Anns Ave	0.56mi	5/2.5 (-1)	2,700 (-2%)	15mo	$787,000	$291	47
426 E 159th St	0.17mi	5/4.0 (-1)	3,132 (+14%)	22mo	$999,000	$319	45

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

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.48×
• Total profit: $142,080
• Equity at exit: $340,370

10-year hold

• IRR: 13.7%
• Equity multiple: 2.58×
• Total profit: $465,709
• Equity at exit: $438,653

Cash invested: $294,000 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $11,173 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$547 /mo · $6,568/yr
• Insurance: −$438
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,346
• Net cashflow: $2,269

Break-even live

Break-even rent $8,301

Max offer price $1,050,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$11,172
Total (3 units)			$11,173

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $1,050,000 Active 291 DOM
2. 2026-06-17
   days on market $1,050,000 Active 290 DOM
3. 2026-06-15
   days on market $1,050,000 Active 288 DOM
4. 2026-06-13
   days on market $1,050,000 Active 286 DOM
5. 2026-06-10
   days on market $1,050,000 Active 282 DOM
6. 2026-06-08
   days on market $1,050,000 Active 281 DOM
7. 2026-06-03
   days on market $1,050,000 Active 276 DOM
8. 2026-06-01
   days on market $1,050,000 Active 274 DOM
9. 2026-05-31
   days on market $1,050,000 Active 273 DOM
10. 2026-05-13
    price $1,050,000
11. 2025-08-30
    listed $1,150,000 Active

ⓘ 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: $6,568 · $547/mo
• Projected year-2 tax: $12,157 · $1,013/mo
• Expected delta: +$5,588/yr (+$466/mo · 85.1%)

ⓘ 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) · 76% 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: $134,076
• − Mortgage interest: −$58,816
• − Property taxes: −$6,568
• − Insurance: −$6,048
• − Repairs & maintenance: −$10,726
• − Management: −$10,726
• − Depreciation: −$30,545
• Taxable income: $10,646
• Est. tax owed @ 24.0%: −$2,555
• After-tax cash flow: $24,673/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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% Arabic 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

-8.7% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-30 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+22.8%/yr

Latest (2025): $6,568 · +14.8% YoY. Source: county tax records.