3425 Boller Ave · New York, NY 10475

$989,900

6 bd · 4.0 ba · 2,638 sqft · MultiFamily public records · 120 Days on market

Built 1935 5,000 sqft lot Est $1034k · at est.

---

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 +10.0/10.0
• ARV discount +9.4/15.0
• Cash flow +8.4/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +2.0/10.0

Multi-family units

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

Listing remarks

Welcome to this beautifully renovated two-family home, offering modern upgrades, spacious living, and incredible investment potential! Perfect for homeowners seeking extra rental income or investors looking for a turnkey property. Completely Renovated "Brand-new kitchens, Air Conditioning, bathrooms, flooring, electrical and plumbing. Two Spacious Units with open-concept layouts and abundant natural light. Modern Kitchens" Sleek cabinetry, quartz countertops, stainless steel appliances and stylish backsplashes. Updated Bathrooms" Contemporary finishes with high-end fixtures, elegant tile work and spa-like features. Separate Utilities" Independent heating, cooling and ele

Key facts

• Air conditioning
• Modern upgrades
• Updated bathrooms

Tags

• RENOVATED TWO-FAMILY HOME
• MODERN UPGRADES
• INVESTMENT POTENTIAL
• BRAND-NEW KITCHENS
• AIR CONDITIONING
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $990k.

Deal economics

• At list price, monthly cash flow is $-884 ($-11k/yr) — negative. Per door: $-442/mo.
• To cash-flow at today's rent, offer at most $834k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $689k (30.4% below list).
• Recommended offer: $689k (30.4% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: 8 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $106k of equity ($7k loan paydown + $99k appreciation (10.0% 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 ~$170k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($901k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $689,200 (30.4% 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 120 days. Have you received any prior offers? Is the seller open to a 30% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.70% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $1,034,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1461 E 233rd St	0.63mi	6/2.0	2,695 (+2%)	1mo	$950,000	$353	58
3653 Marolla Pl	0.28mi	6/4.0	2,352 (-11%)	17mo	$995,000	$423	55
3613 Marolla Pl	0.25mi	6/2.0	2,800 (+6%)	19mo	$800,000	$286	54
3106 Eastchester Rd	0.74mi	5/3.0 (-1)	2,717 (+3%)	9mo	$920,000	$339	44
3442-3444 Grace Ave	0.24mi	5/2.0 (-1)	2,319 (-12%)	15mo	$600,000	$259	43
3665 Varian Ave	0.41mi	5/3.0 (-1)	2,270 (-14%)	8mo	$910,100	$401	42
1338 E 224th St #3	0.38mi	7/3.0 (+1)	2,968 (+12%)	14mo	$815,000	$275	40
3919 Murdock Ave	0.64mi	7/5.0 (+1)	2,300 (-13%)	7mo	$1,150,000	$500	34
3661 Varian Ave	0.41mi	5/3.5 (-1)	2,270 (-14%)	21mo	$965,000	$425	33
1167 E 223rd St	0.65mi	6/4.0	2,300 (-13%)	21mo	$999,999	$435	31
3495 Kingsland Ave	0.55mi	5/2.0 (-1)	2,256 (-14%)	16mo	$884,000	$392	24
1119 E 224th St	0.73mi	7/5.0 (+1)	3,000 (+14%)	17mo	$850,000	$283	20

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.74×
• Total profit: $482,622
• Equity at exit: $891,780

10-year hold

• IRR: 19.4%
• Equity multiple: 6.29×
• Total profit: $1,465,092
• Equity at exit: $1,923,158

Cash invested: $277,172 (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 10475

• Home prices YoY: 12.1%
• Active inventory: 8
• Price-to-rent: 23.9×

Monthly cashflow live

• Estimated rent: $6,892 high
• Mortgage (P&I): −$5,191
• Tax from tax record: −$725 /mo · $8,699/yr
• Insurance: −$412
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,447
• Net cashflow: $-884

Break-even live

Break-even rent $8,011

Max offer price $833,766

Occupancy floor —

Sensitivity live

Price	-10% $-323	-5% $-604	+0% $-884	+5% $-1,164	+10% $-1,444
Rent	-10% $-1,428	-5% $-1,156	+0% $-884	+5% $-612	+10% $-339
Rate	-1.0pp $-385	-0.5pp $-632	base $-884	+0.5pp $-1,140	+1.0pp $-1,401

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$6,892
Total (2 units)			$6,892

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: $247,475
• Closing costs: $29,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	6d	1	1.02mi

Listing history 8 events

1. 2025-07-22
   status Pending
2. 2025-05-01
   price $989,900
3. 2025-03-24
   listed $999,900 Active
4. 2023-10-14
   listed $899,000 Active
5. 2023-10-14
   historical
6. 2023-08-04
   listed $979,000 Active
7. 2023-08-03
   historical
8. 2023-05-01
   listed $999,000 Active

ⓘ 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: $8,699 · $725/mo
• Projected year-2 tax: $12,714 · $1,060/mo
• Expected delta: +$4,015/yr (+$335/mo · 46.2%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $82,704
• − Mortgage interest: −$55,450
• − Property taxes: −$8,699
• − Insurance: −$4,950
• − Repairs & maintenance: −$6,616
• − Management: −$6,616
• − Depreciation: −$28,797
• Taxable loss: −$28,424
• Est. tax savings @ 24.0%: +$6,822
• After-tax cash flow: $-3,784/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
• City population: 7,731,280
• Population (ZIP): 42,771

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: Majority Black (60%)
• Race & ethnicity: Black 60% Hispanic / Latino 30% Two or more races 9% White 5% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 18% Dominican 7%
• Common ancestry: Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 25% · Canada
• Languages at home: 68% English-only · Spanish 23% Russian/Polish/Slavic 1% 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: ▲ 20.24%
• Current HPI: 187.68
• Rent YoY: —
• Metro: —
• 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

-0.9% since first listed

8 events — show timeline

• 2025-07-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Price Changed $989,900 OneKey® MLS as Distributed by MLS Grid
• 2025-03-24 Listed $999,900 OneKey® MLS as Distributed by MLS Grid
• 2023-10-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-10-14 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-04 Listed $979,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-05-01 Listed $999,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2025): $8,699 · +8.0% YoY. Source: county tax records.