2896 Heath Ave · New York, NY 10463

$849,000

6 bd · 4.0 ba · 2,360 sqft · MultiFamily public records · 93 Days on market

Built 1930 2,075 sqft lot Est $866k · at est.

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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 +25.2/30.0
• ARV discount +8.4/15.0
• DSCR +8.3/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

2 family townhouse, perfectly positioned on a 20.67x100 lot with a 20x35 building footprint. The first and second floors form a duplex featuring a welcoming living room, a functional kitchen, and a half bathroom on the first floor, while the second floor offers three comfortable bedrooms and a full bathroom. The third floor boasts an independent living space with three bedrooms, a full bathroom, a cozy living room, and a kitchen. The finished basement includes a family room, an additional full bathroom, and a separate entrance for added convenience. Located near shops, restaurants, parks, and schools, this property also provides excellent transportation options with easy access to the Bx3 b

Key facts

• 20.67x100 lot
• Functional kitchen
• Half bathroom

Tags

• 20.67X100 LOT
• 20X35 BUILDING FOOTPRINT
• WELCOMING LIVING ROOM
• FUNCTIONAL KITCHEN
• HALF BATHROOM
• THREE COMFORTABLE BEDROOMS

Property features AI

Exterior

• Parking: No carport; No designated parking features
• Utilities: Public sewer; Electricity connected; Water connected; Sewer connected; Trash collection (private); Natural gas available
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Near public transit; Close to schools; Near shopping

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 3-bedroom units (multi-unit duplex configuration)
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Baseboard heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Formal dining room; First-floor bedroom; Primary bedroom on main level; Finished full basement
• Laundry & utility: Utilities connected: electricity, water, sewer; Natural gas available

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $849k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $952/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $849k).
• Recommended offer: $773k (9.0% 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.
• 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: Rents rising fast (+11.6%/yr); 345 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $9,169/mo this rent would consume 147% of the median local household income ($75k/yr) (locally 5586% 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 $6k of loan paydown is wiped out by about $25k 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 $238k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $572k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $772,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.08% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $866,120
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3626 Irwin Ave	0.73mi	6/3.0	2,430 (+3%)	8mo	$760,000	$313	50
2743 Kingsbridge Ter	0.21mi	7/2.0 (+1)	2,588 (+10%)	16mo	$950,000	$367	48
3226 Corlear Ave	0.51mi	7/3.0 (+1)	2,146 (-9%)	21mo	$1,110,000	$517	35

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

Projected returns pro-forma

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

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $31,987
• Equity at exit: $126,589

10-year hold

• IRR: 16.9%
• Equity multiple: 2.70×
• Total profit: $403,823
• Equity at exit: $73,406

Cash invested: $237,720 (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 10463

• Rents YoY: 11.6%
• Active inventory: 345
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $9,169 medium
• Mortgage (P&I): −$4,452
• Tax from tax record: −$533 /mo · $6,397/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,925
• Net cashflow: $1,904

Break-even live

Break-even rent $6,758

Max offer price $849,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,385	-5% $2,145	+0% $1,904	+5% $1,664	+10% $1,424
Rent	-10% $1,180	-5% $1,542	+0% $1,904	+5% $2,267	+10% $2,629
Rate	-1.0pp $2,332	-0.5pp $2,120	base $1,904	+0.5pp $1,684	+1.0pp $1,461

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$9,168
Total (2 units)			$9,169

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-13
   statusdays on market $849,000 Pending 93 DOM
2. 2026-06-10
   days on market $849,000 Active 92 DOM
3. 2026-06-08
   days on market $849,000 Active 91 DOM
4. 2026-06-08
   days on market $849,000 Active 90 DOM
5. 2026-06-04
   days on market $849,000 Active 87 DOM
6. 2026-06-03
   days on market $849,000 Active 86 DOM
7. 2026-06-01
   days on market $849,000 Active 84 DOM
8. 2026-05-31
   days on market $849,000 Active 83 DOM
9. 2026-03-09
   listed $849,000 Active
10. 2025-09-17
    status Pending
11. 2025-09-17
    historical
12. 2025-07-14
    listed $849,000 Active
13. 2025-07-14
    historical
14. 2025-07-01
    historical
15. 2025-05-14
    price $849,000
16. 2024-11-22
    listed $899,000 Active
17. 2014-03-15
    price $572,500
18. 2008-10-20
    soldstatus $572,000
19. 2008-10-06
    soldstatus $572,500
20. 2008-07-02
    price $635,000
21. 2008-05-30
    listed $635,000
22. 2006-11-09
    historical
23. 2006-08-26
    listed
24. 1987-12-08
    soldstatus $175,000

ⓘ 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: $6,397 · $533/mo
• Projected year-2 tax: $10,373 · $864/mo
• Expected delta: +$3,975/yr (+$331/mo · 62.1%)

ⓘ 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 · 13 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: $110,028
• − Mortgage interest: −$47,557
• − Property taxes: −$6,397
• − Insurance: −$4,245
• − Repairs & maintenance: −$8,802
• − Management: −$8,802
• − Depreciation: −$24,698
• Taxable income: $9,526
• Est. tax owed @ 24.0%: −$2,286
• After-tax cash flow: $20,567/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): 69,470
• Household income: $74,974
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 5586.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 17% Black 12% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 1% Dominican 25%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 40% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -294.75%
• Current HPI: 168.0211
• Rent YoY: ▲ 11.60%
• 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

+385.1% since first listed

16 events — show timeline

• 2026-03-09 Listed $849,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Listed $849,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-14 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-14 Price Changed $849,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-22 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $572,500 HGMLS
• 2008-10-20 Sold (Public Records) $572,000 Public Records
• 2008-10-06 Sold (MLS) $572,500 HGMLS
• 2008-07-02 Price Changed $635,000 HGMLS
• 2008-05-30 Listed $635,000 HGMLS
• 2006-11-09 Delisted — HGMLS
• 2006-08-26 Listed — HGMLS
• 1987-12-08 Sold (Public Records) $175,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $6,397 · +0.9% YoY. Source: county tax records.