506 E 183rd St · New York, NY 10458

$850,000

8 bd · 3.0 ba · 2,112 sqft · MultiFamily public records · 27 Days on market

Built 1901 1,316 sqft lot Est $940k · 10% under

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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 +19.6/30.0
• ARV discount +11.8/15.0
• Appreciation +7.5/10.0
• DSCR +6.2/10.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Welcome to 506 E 183rd Street, a fully renovated legal two-unit residence offering a standout investment opportunity in the rapidly evolving South Bronx. Thoughtfully redesigned from top to bottom, this property combines modern finishes, functional layouts, and strong income-producing potential, making it an excellent choice for both investors and end users seeking long-term value. The upper residence is a spacious five-bedroom, two-bathroom duplex that has been completely updated to reflect contemporary living standards. The layout offers an open and comfortable flow, with generously sized bedrooms and well-proportioned common areas that allow for both relaxation and everyday functionality

Key facts

• 1,316 sq ft lot
• Built 1901
• Listed 27 days

Property features AI

Exterior

• Parking: No carport; Other parking features
• Utilities: Public sewer; No listed utilities
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Non-waterfront property; Frame construction

Interior

• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Electric heating; Other heating; No cooling
• Interior features: Other interior features (unspecified)

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $773k (9.0% below list).
• Recommended offer: $773k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 (+8.0%/yr); 62 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 $7,733/mo this rent would consume 227% of the median local household income ($41k/yr) (locally 10274% 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 $49k of equity ($6k loan paydown + $43k appreciation (5.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $238k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($837k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1901 — 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 $773,300 (9.0% below list)

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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $939,840
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2075 Crotona Ave	0.49mi	8/3.0	2,162 (+2%)	19mo	$830,000	$384	57
2151 Belmont Ave	0.36mi	8/4.0	1,908 (-10%)	11mo	$930,000	$487	54
2471A Crotona Ave	0.50mi	8/3.5	1,912 (-10%)	23mo	$850,000	$445	40
2642 Decatur Ave	0.65mi	7/2.5 (-1)	2,226 (+5%)	21mo	$730,000	$328	36

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

Projected returns pro-forma

5.03% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.26×
• Total profit: $299,847
• Equity at exit: $482,956

10-year hold

• IRR: 21.3%
• Equity multiple: 4.99×
• Total profit: $949,668
• Equity at exit: $834,569

Cash invested: $238,000 (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 10458

• Home prices YoY: 3.0%
• Rents YoY: 8.0%
• Active inventory: 62
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $7,733 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$321 /mo · $3,848/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,624
• Net cashflow: $977

Break-even live

Break-even rent $6,497

Max offer price $850,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$7,732
Total (2 units)			$7,733

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $850,000 Active 27 DOM
2. 2026-06-17
   days on market $850,000 Active 26 DOM
3. 2026-06-16
   days on market $850,000 Active 25 DOM
4. 2026-06-15
   days on market $850,000 Active 24 DOM
5. 2026-06-13
   days on market $850,000 Active 22 DOM
6. 2026-06-10
   days on market $850,000 Active 18 DOM
7. 2026-06-08
   days on market $850,000 Active 17 DOM
8. 2026-06-08
   days on market $850,000 Active 16 DOM
9. 2026-06-04
   days on market $850,000 Active 13 DOM
10. 2026-06-03
    days on market $850,000 Active 12 DOM
11. 2026-06-02
    days on market $850,000 Active 11 DOM
12. 2026-06-01
    days on market $850,000 Active 10 DOM
13. 2026-05-31
    days on market $850,000 Active 9 DOM
14. 2026-05-22
    listed $850,000 Active
15. 2026-05-21
    historical $850,000
16. 2026-05-20
    historical
17. 2026-04-24
    listed $850,000 Active
18. 2026-04-23
    historical
19. 2026-04-22
    historical
20. 2026-03-22
    listed $850,000 Active
21. 2026-03-20
    historical
22. 2026-03-20
    historical
23. 2026-02-19
    listed $850,000 Active
24. 2026-02-18
    historical
25. 2026-02-17
    historical
26. 2026-01-18
    listed $850,000 Active
27. 2026-01-18
    historical
28. 2026-01-16
    historical
29. 2025-12-19
    listed $850,000 Active
30. 2025-12-19
    historical
31. 2025-12-17
    price $850,000
32. 2025-12-17
    historical
33. 2025-12-01
    soldstatus $829,000 Closed
34. 2025-10-28
    status Pending
35. 2025-10-03
    listed $780,000 Active
36. 2025-10-01
    historical $780,000
37. 2025-09-30
    historical
38. 2025-09-04
    listed $780,000 Active
39. 2025-09-03
    historical
40. 2025-09-02
    historical
41. 2025-07-24
    listed $780,000 Active
42. 2025-07-23
    historical
43. 2025-07-22
    historical
44. 2025-06-15
    listed $780,000 Active
45. 2025-06-15
    historical
46. 2025-06-12
    historical
47. 2025-05-14
    listed $780,000 Active
48. 2025-05-13
    historical
49. 2025-05-12
    historical
50. 2025-04-30
    price $780,000

ⓘ 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: $3,848 · $321/mo
• Projected year-2 tax: $9,106 · $759/mo
• Expected delta: +$5,259/yr (+$438/mo · 136.7%)

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

Taxation est. · year 1

• Rental income: $92,796
• − Mortgage interest: −$47,613
• − Property taxes: −$3,848
• − Insurance: −$4,250
• − Repairs & maintenance: −$7,424
• − Management: −$7,424
• − Depreciation: −$24,727
• Taxable loss: −$2,490
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $12,319/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): 74,898
• Household income: $40,800
• Rent vs Own: 95.8% rent · 4.2% own
• Severe rent burden: 10274.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Black 16% Two or more races 10% White 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 15% Dominican 34%
• Foreign-born: 41% · Canada, Jamaica, South Korea
• Languages at home: 30% English-only · Spanish 61% Other Indo-European 3% 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: ▲ 5.03%
• Current HPI: 173.4217
• Rent YoY: ▲ 8.04%
• 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

+431.2% since first listed

70 events — show timeline

• 2026-05-22 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-21 Coming Soon $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-24 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2026-04-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-22 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-20 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2026-03-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2026-02-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-18 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-18 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-19 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-17 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-17 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-12-01 Sold (MLS) $829,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-03 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-01 Coming Soon $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-04 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-03 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-09-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-24 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-23 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-07-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-15 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-15 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-14 Listed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-13 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-30 Price Changed $780,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-28 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-27 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-03-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-02-07 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-08 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-07 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-01-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-17 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-17 Price Changed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-14 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2024-10-10 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-09 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2024-10-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-07 Price Changed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-12 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-11 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2024-09-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-14 Price Changed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-11 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-28 Sold (MLS) $487,700 OneKey® MLS as Distributed by MLS Grid
• 2024-03-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-01-17 Listed $469,900 OneKey® MLS as Distributed by MLS Grid
• 2022-07-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-06-30 Listed $549,900 OneKey® MLS as Distributed by MLS Grid
• 2021-07-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-05-15 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-05-15 Price Changed $479,900 OneKey® MLS as Distributed by MLS Grid
• 2021-01-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-01-14 Listed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2001-12-31 Sold (Public Records) $160,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,848 · +1.0% YoY. Source: county tax records.