2877 Briggs Ave · New York, NY 10458

$1,550,000

9 bd · 6.0 ba · 3,900 sqft · MultiFamily public records · 356 Days on market

Built 2007 2,500 sqft lot Est $1150k · 35% over

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Why this score? — see what drove the F 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 +7.5/10.0
• Cash flow +6.5/30.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.8/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Package deal offering two well-maintained, cash-flowing semi-detached brick triplexes in Bedford Park, Bronx. Built in 2007, each property features three spacious 3-bedroom, 2-bathroom apartments—each with separate heating and hot water systems, with tenants paying all utilities. Both buildings include full finished walk-out basements and share a large backyard. A private driveway accommodates six side-by-side parking spots, generating additional income potential. Combined current NOI is $187,190, with a tax abatement in place until 2032 and taxes at just $500 per month. Prime location just one block from Grand Concourse and near the B, D, and 4 subway lines. Must be sold with 2877 Br

Key facts

• Private driveway
• Large backyard
• 2,500 sq ft lot

Tags

• LARGE BACKYARD
• PRIVATE DRIVEWAY
• SIX SIDE-BY-SIDE PARKING SPOTS
• ONE BLOCK FROM GRAND CONCOURSE
• NEAR B D AND 4 SUBWAY LINES
• SIX FREE-MARKET UNITS

Property features AI

Exterior

• Parking: Driveway and off-street parking for three vehicles
• Utilities: Electric service by Con Edison; Public sewer; Public trash collection; Underground utilities
• Home design: Triplex
• Construction: Brick foundation (brick/mortar)
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: One 2-bedroom unit; Two 3-bedroom units
• Bathrooms: Six full bathrooms total
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $1.55M.

Deal economics

• At list price, monthly cash flow is $-3k ($-31k/yr) — negative. Per door: $-862/mo.
• To cash-flow at today's rent, offer at most $1.18M (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.03M (33.6% below list).
• Recommended offer: $1.03M (33.6% below list) — sets the bar for 1% rule.
• Cap rate 4.3% 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 (+8.0%/yr); 63 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 $10,286/mo this rent would consume 303% 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 $89k of equity ($11k loan paydown + $78k appreciation (5.0% 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 ~$142k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• 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 $1,028,600 (33.6% 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. It's been on market 356 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
10. 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.
11. 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.
12. 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: 0.66% ✗
• Cap rate: 4.29%
• Cash-on-cash: -7.15%
• DSCR: 0.68
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $1,150,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
285 E 203rd St	0.32mi	8/4.0 (-1)	3,555 (-9%)	1mo	$1,050,000	$295	56

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: 8.8%
• Equity multiple: 1.57×
• Total profit: $249,259
• Equity at exit: $880,684

10-year hold

• IRR: 12.2%
• Equity multiple: 3.36×
• Total profit: $1,025,904
• Equity at exit: $1,521,861

Cash invested: $434,000 (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: 63
• Price-to-rent: 37.7×

Monthly cashflow live

• Estimated rent: $10,286 medium
• Mortgage (P&I): −$8,128
• Tax est. 1.5%: −$1,938 /mo · $23,250/yr
• Insurance: −$646
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,160
• Net cashflow: $-2,586

Break-even live

Break-even rent $13,559

Max offer price $1,175,836

Occupancy floor —

Sensitivity live

Price	-10% $-1,515	-5% $-2,050	+0% $-2,586	+5% $-3,121	+10% $-3,657
Rent	-10% $-3,398	-5% $-2,992	+0% $-2,586	+5% $-2,179	+10% $-1,773
Rate	-1.0pp $-1,805	-0.5pp $-2,192	base $-2,586	+0.5pp $-2,987	+1.0pp $-3,396

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$10,287
Total (3 units)			$10,286

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: $387,500
• Closing costs: $46,500
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-15
   days on market $1,550,000 Active 356 DOM
2. 2026-06-13
   days on market $1,550,000 Active 354 DOM
3. 2026-06-10
   days on market $1,550,000 Active 350 DOM
4. 2026-06-08
   days on market $1,550,000 Active 349 DOM
5. 2026-06-03
   days on market $1,550,000 Active 344 DOM
6. 2026-06-01
   days on market $1,550,000 Active 342 DOM
7. 2026-05-31
   days on market $1,550,000 Active 341 DOM
8. 2026-01-09
   status Active
9. 2026-01-01
   historical
10. 2025-06-16
    listed $1,550,000 Active

ⓘ 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 · 14 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: $123,432
• − Mortgage interest: −$86,824
• − Property taxes: −$23,250
• − Insurance: −$7,750
• − Repairs & maintenance: −$9,875
• − Management: −$9,875
• − Depreciation: −$45,091
• Taxable loss: −$59,232
• Est. tax savings @ 24.0%: +$14,216
• After-tax cash flow: $-16,813/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

3 events — show timeline

• 2026-01-09 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-16 Listed $1,550,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $521 · +0.0% YoY. Source: county tax records.