3555 Kings College Pl Unit 2K · New York, NY 10467

$199,000

2 bd · 1.0 ba · 850 sqft · Condo · 71 Days on market

Built 1954

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Value!! Two bedroom apartment in well maintained building that is 100% owned. Features resident super, laundry, storage, indoor heated garage. Unit features hardwood floors, lots of closets and eat-in kitchen, foyer/dining area, living room, two bedrooms. Gas & electric included in the already low monthly maintenance. Motivated seller ready to sign contracts; take advantage of great deal and add your own special touch to make this your home. Call today to view.

Key facts

• Separate kitchen
• Bright dining area
• Common laundry room

Tags

• BRIGHT DINING AREA
• SEPARATE KITCHEN
• HARDWOOD FLOORS
• COMMON LAUNDRY ROOM
• BIKE STORAGE
• LANDSCAPED COURTYARDS

Property features AI

Finance

• Other: Living area reported as 850
• HOA & community: Association: College Gardens

Exterior

• Parking: No designated parking; No carport
• Utilities: Electricity connected; Natural gas connected; Public water connected; Public sewer; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Outdoor space; Bicycle room

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Entry on level 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Steam heating; Wall/window air conditioning units
• Interior features: Primary bathroom; Storage; No pets allowed
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 fast (+9.2%/yr); 129 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,376/mo this rent would consume 58% of the median local household income ($49k/yr) (locally 10930% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago 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 $130k; list at $199k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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: 1.19% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.22×
• Total profit: $12,287
• Equity at exit: $29,672

10-year hold

• IRR: 18.9%
• Equity multiple: 2.96×
• Total profit: $109,119
• Equity at exit: $17,206

Cash invested: $55,720 (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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 129
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,376 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $502

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 74%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gaselectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $199,000 Active 71 DOM
2. 2026-06-17
   days on market $199,000 Active 70 DOM
3. 2026-06-15
   days on market $199,000 Active 68 DOM
4. 2026-06-13
   days on market $199,000 Active 66 DOM
5. 2026-06-10
   days on market $199,000 Active 62 DOM
6. 2026-06-08
   days on market $199,000 Active 61 DOM
7. 2026-06-08
   days on market $199,000 Active 60 DOM
8. 2026-06-04
   days on market $199,000 Active 57 DOM
9. 2026-06-03
   days on market $199,000 Active 56 DOM
10. 2026-06-01
    days on market $199,000 Active 54 DOM
11. 2026-05-31
    days on market $199,000 Active 53 DOM
12. 2026-04-08
    listed $199,000 Active
13. 2014-03-15
    price $130,000 477-char remark

    Show marketing remark (477 chars)

    Great Value!! Two bedroom apartment in well maintained building that is 100% owned. Features resident super, laundry, storage, indoor heated garage. Unit features hardwood floors, lots of closets and eat-in kitchen, foyer/dining area, living room, two bedrooms. Gas & electric included in the already low monthly maintenance. Motivated seller ready to sign contracts; take advantage of great deal and add your own special touch to make this your home. Call today to view.

14. 2011-05-20
    soldstatus $130,000 477-char remark

    Show marketing remark (477 chars)

    Great Value!! Two bedroom apartment in well maintained building that is 100% owned. Features resident super, laundry, storage, indoor heated garage. Unit features hardwood floors, lots of closets and eat-in kitchen, foyer/dining area, living room, two bedrooms. Gas & electric included in the already low monthly maintenance. Motivated seller ready to sign contracts; take advantage of great deal and add your own special touch to make this your home. Call today to view.

15. 2010-11-22
    price $135,000 477-char remark

    Show marketing remark (477 chars)

    Great Value!! Two bedroom apartment in well maintained building that is 100% owned. Features resident super, laundry, storage, indoor heated garage. Unit features hardwood floors, lots of closets and eat-in kitchen, foyer/dining area, living room, two bedrooms. Gas & electric included in the already low monthly maintenance. Motivated seller ready to sign contracts; take advantage of great deal and add your own special touch to make this your home. Call today to view.

16. 2010-02-01
    listed $135,000 477-char remark

    Show marketing remark (477 chars)

    Great Value!! Two bedroom apartment in well maintained building that is 100% owned. Features resident super, laundry, storage, indoor heated garage. Unit features hardwood floors, lots of closets and eat-in kitchen, foyer/dining area, living room, two bedrooms. Gas & electric included in the already low monthly maintenance. Motivated seller ready to sign contracts; take advantage of great deal and add your own special touch to make this your home. Call today to view.

ⓘ 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 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,508
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,281
• − Management: −$2,281
• − Depreciation: −$5,789
• Taxable income: $3,031
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $5,291/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): 96,421
• Household income: $49,330
• Rent vs Own: 85.8% rent · 14.2% own
• Severe rent burden: 10930.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 53% Black 28% Two or more races 11% White 9% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 22%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 41% English-only · Spanish 45% Other Indo-European 7% French/Haitian/Cajun 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: ▼ -112.76%
• Current HPI: 231.537
• Rent YoY: ▲ 9.23%
• 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

+47.4% since first listed

5 events — show timeline

• 2026-04-08 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $130,000 HGMLS
• 2011-05-20 Sold (MLS) $130,000 HGMLS
• 2010-11-22 Price Changed $135,000 HGMLS
• 2010-02-01 Listed $135,000 HGMLS