1012 Faile St Unit 1012A · New York, NY 10459

$255,000

2 bd · 1.0 ba · 766 sqft · Condo public records · 183 Days on market

Built 1915 $547/mo HOA · 15% of rent

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +9.3/10.0
• Appreciation +8.3/10.0
• 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

Listing remarks

Accepted offer, continue to show - Where else can you find a spacious 2 bedroom that's a blank slate. .. for just as much as what you pay in rent?!?!?! In a condo community made up of brownstones side by side, this spacious unit is in the middle of it all. This unit boasts high ceilings and generously sized bedrooms. The open layout of the dining room and living room combination allow for any living style. There are beautiful hardwood floors throughout. As an added bonus, owners can make use of the back yard and open basement space. Close to schools, restaurants, and shopping. Your choice of the 2,5, and 6 trains for quick access into Manhattan. Easy drive to the Bruckner, Sheridan, and Cro

Key facts

• Close to schools
• Spacious unit
• Back yard access

Tags

• SPACIOUS UNIT
• HIGH CEILINGS
• HARDWOOD FLOORS
• BACK YARD ACCESS
• OPEN BASEMENT SPACE
• CLOSE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: 38 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).

Forward outlook

• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (6.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $45k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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 $224,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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. 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: 1.43% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.84%
• DSCR: 1.57
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.86×
• Total profit: $132,651
• Equity at exit: $171,055

10-year hold

• IRR: 25.3%
• Equity multiple: 5.91×
• Total profit: $350,374
• Equity at exit: $319,933

Cash invested: $71,400 (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 10459

• Home prices YoY: 2.5%
• Active inventory: 38
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,643 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$106
• HOA: −$547
• Vacancy / Maint / Mgmt: −$765
• Net cashflow: $764

Break-even live

Break-even rent $2,676

Max offer price $255,000

Occupancy floor 74%

Sensitivity live

Price	-10% $908	-5% $836	+0% $764	+5% $692	+10% $619
Rent	-10% $476	-5% $620	+0% $764	+5% $908	+10% $1,052
Rate	-1.0pp $892	-0.5pp $829	base $764	+0.5pp $698	+1.0pp $631

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Rosedale Ave Bronx, NY	3.0	1.0	1053	$3,643	$3.46	25d	1	1.31mi

HOA detail condo

• Monthly dues: $547 · $6,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2025-04-24
   status Pending
2. 2025-03-12
   status Active
3. 2024-11-12
   status Pending
4. 2024-09-27
   price $255,000
5. 2024-08-07
   status Active
6. 2024-05-21
   listed $300,000 Active
7. 2007-07-12
   soldstatus $170,500
8. 2007-03-27
   soldstatus $120,000
9. 1995-05-04
   soldstatus $95,500

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $2,897 · $241/mo
• Expected delta: +$1,413/yr (+$118/mo · 95.2%)

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

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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,716
• − Mortgage interest: −$14,284
• − Property taxes: −$1,484
• − Insurance: −$1,275
• − Repairs & maintenance: −$3,497
• − Management: −$3,497
• − HOA: −$6,564
• − Depreciation: −$7,418
• Taxable income: $5,697
• Est. tax owed @ 24.0%: −$1,367
• After-tax cash flow: $7,799/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
• City population: 7,731,280
• Population (ZIP): 49,753

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Black 29% Two or more races 16% White 1% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 22% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 29% · Canada
• Languages at home: 36% English-only · Spanish 55% 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: ▲ 6.66%
• Current HPI: 277.1628
• Rent YoY: —
• Metro: —
• 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

+167.0% since first listed

9 events — show timeline

• 2025-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-11-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-09-27 Price Changed $255,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-05-21 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2007-07-12 Sold (Public Records) $170,500 Public Records
• 2007-03-27 Sold (Public Records) $120,000 Public Records
• 1995-05-04 Sold (Public Records) $95,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,484 · +57.0% YoY. Source: county tax records.