1162 Franklin Ave · New York, NY 10456

$845,000

None bd · None ba · 2,709 sqft · MultiFamily public records · 5 Days on market

Built 2005 1,002 sqft lot Est $856k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +9.3/10.0
• ARV discount +8.1/15.0
• Cash flow +7.4/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.4/10.0

Multi-family units

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

Listing remarks

2 family. Short Sales not approved. Buyer is responsible to pay lien $195,000 in order to buy this property once short sale is approved.

Key facts

• 1,002 sq ft lot
• Built 2005
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $845k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-536/mo.
• To cash-flow at today's rent, offer at most $656k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $542k (35.8% below list).
• Recommended offer: $542k (35.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 52 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 $5,424/mo this rent would consume 186% of the median local household income ($35k/yr) (locally 11195% 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 $78k of equity ($6k loan paydown + $72k appreciation (8.6% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$125k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 11y ago; this cycle's ask is 54% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $134k; list at $845k implies a 533% 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 $542,400 (35.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.64% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.44%
• DSCR: 0.76
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $856,044
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1049 Trinity Ave	0.17mi	6/3.0	2,655 (-2%)	13mo	$700,000	$264	78
1046 College Ave	0.53mi	9/4.0	2,790 (+3%)	4mo	$769,000	$276	67
1070 Kelly St	0.55mi	6/3.0	2,520 (-7%)	8mo	$999,000	$396	56
769 E 168th St	0.21mi	5/5.0	2,400 (-11%)	18mo	$910,000	$379	56
1417 Crotona Ave	0.49mi	7/2.0	2,410 (-11%)	4mo	$850,000	$353	55
1169 Fox St	0.56mi	6/3.0	2,760 (+2%)	20mo	$949,999	$344	54
811 E 168th St	0.32mi	5/3.0	3,090 (+14%)	12mo	$975,000	$316	52
1029 Rev James Polite Ave	0.44mi	7/4.0	3,024 (+12%)	11mo	$960,000	$317	50
645 Jefferson Pl	0.41mi	6/3.0	2,973 (+10%)	22mo	$820,000	$276	46
1168 Sherman Ave	0.65mi	11/4.0	3,104 (+15%)	6mo	$850,000	$274	40
784 Elton Ave	0.68mi	7/3.0	3,036 (+12%)	19mo	$920,000	$303	32

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

Projected returns pro-forma

8.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 2.31×
• Total profit: $309,674
• Equity at exit: $673,941

10-year hold

• IRR: 16.3%
• Equity multiple: 5.02×
• Total profit: $951,002
• Equity at exit: $1,369,467

Cash invested: $236,600 (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 10456

• Home prices YoY: 3.0%
• Active inventory: 52
• Price-to-rent: 26.0×

Monthly cashflow live

• Estimated rent: $5,424 medium
• Mortgage (P&I): −$4,431
• Tax from tax record: −$573 /mo · $6,880/yr
• Insurance: −$352
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,139
• Net cashflow: $-1,072

Break-even live

Break-even rent $6,781

Max offer price $655,682

Occupancy floor —

Sensitivity live

Price	-10% $-593	-5% $-833	+0% $-1,072	+5% $-1,311	+10% $-1,550
Rent	-10% $-1,500	-5% $-1,286	+0% $-1,072	+5% $-857	+10% $-643
Rate	-1.0pp $-646	-0.5pp $-857	base $-1,072	+0.5pp $-1,291	+1.0pp $-1,513

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$5,424
Total (2 units)			$5,424

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: $211,250
• Closing costs: $25,350
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-17
   status $845,000 Pending 5 DOM
2. 2026-06-16
   days on market $845,000 Active 5 DOM
3. 2026-06-15
   days on market $845,000 Active 4 DOM
4. 2026-06-13
   statusdays on market $845,000 Active 2 DOM
5. 2026-06-07
   pricelisting id $845,000 Pending 1 DOM
6. 2024-09-10
   status Pending
7. 2024-09-09
   listed $550,000 Active
8. 2024-07-31
   status Pending
9. 2024-05-24
   status Pending
10. 2024-05-24
    status Active
11. 2023-05-18
    status Pending
12. 2023-05-17
    historical
13. 2023-05-17
    historical
14. 2023-05-17
    price $600,000
15. 2023-05-16
    historical
16. 2023-05-13
    listed $450,000 Active
17. 2021-06-12
    status Pending
18. 2020-03-27
    status Pending
19. 2019-11-27
    status Pending
20. 2019-09-06
    historical
21. 2018-09-07
    historical Pending
22. 2018-09-06
    historical
23. 2018-09-06
    historical
24. 2018-08-16
    listed $410,000 Active
25. 2016-07-29
    historical Expired
26. 2016-07-28
    historical
27. 2015-05-22
    historical Pending
28. 2015-03-27
    listed Active
29. 2015-03-27
    listed $450,000
30. 2004-06-08
    soldstatus $133,500
31. 2004-03-24
    soldstatus $80,000

ⓘ 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: $6,880 · $573/mo
• Projected year-2 tax: $10,580 · $882/mo
• Expected delta: +$3,700/yr (+$308/mo · 53.8%)

ⓘ 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 · 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: $65,088
• − Mortgage interest: −$47,333
• − Property taxes: −$6,880
• − Insurance: −$4,225
• − Repairs & maintenance: −$5,207
• − Management: −$5,207
• − Depreciation: −$24,582
• Taxable loss: −$28,346
• Est. tax savings @ 24.0%: +$6,803
• After-tax cash flow: $-6,057/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): 87,533
• Household income: $34,954
• Rent vs Own: 93.1% rent · 6.9% own
• Severe rent burden: 11195.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 52% Black 41% Two or more races 14% White 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Dominican 26%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 44% French/Haitian/Cajun 3% 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: ▲ 8.55%
• Current HPI: 293.766
• 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

+587.5% since first listed

26 events — show timeline

• 2024-09-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-09-09 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-05-17 Price Changed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-13 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2021-06-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-11-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-09-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-07 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-09-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-09-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-08-16 Listed $410,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-29 Delisted — HGMLS
• 2016-07-28 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-05-22 Contingent — HGMLS
• 2015-03-27 Listed — HGMLS
• 2015-03-27 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2004-06-08 Sold (Public Records) $133,500 Public Records
• 2004-03-24 Sold (Public Records) $80,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $6,880 · +6.0% YoY. Source: county tax records.