1020 Grand Concourse Unit 6R · New York, NY 10451

$469,000

2 bd · 2.0 ba · 1,155 sqft · Condo public records · 311 Days on market

Built 1963

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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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks

Discover one of the Grand Concourse’s most sought-after addresses, where sophistication meets everyday convenience. This beautifully maintained building provides exceptional amenities, including a 24-hour doorman and concierge, a dedicated live-in superintendent, secure bike storage, and an inviting lobby with comfortable seating. Your monthly maintenance covers gas, electricity, heat, and hot water, ensuring both comfort and predictable expenses. Perfectly located just steps from Yankee Stadium, the Concourse Plaza Shopping Center, and excellent transportation options — including the B, D, and 4 trains, as well as express buses — this home keeps you connected to it all. B

Key facts

• Secure bike storage
• Concierge
• 24 hour doorman

Tags

• 24 HOUR DOORMAN
• CONCIERGE
• SECURE BIKE STORAGE
• INVITING LOBBY
• MONTHLY MAINTENANCE COVERS GAS
• STEPS FROM YANKEE STADIUM

Property features AI

Finance

• Other: Living area reported as 1300 (source: Other); Directions: Use GPS
• HOA & community: Managed by Lovett Mgmt / Camille Quamina; Building amenities include elevator(s), live-in superintendent, maintenance, receiving room, security, and snow removal; Association fee includes air conditioning, electricity, gas, heat, hot water, sewer, and water

Exterior

• Parking: No carport
• Security: Building security (association amenity)
• Utilities: Electricity available and connected (Con-Edison); Natural gas available and connected; Water available and connected; Public sewer
• Home design: Stock cooperative
• Construction: Brick construction materials
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Radiant heating; Other heating
• Interior features: Other interior features; Pets allowed with size limit
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $469k.

Deal economics

• At list price, monthly cash flow is $-642 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (29.8% below list).
• Recommended offer: $329k (29.8% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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 (+2.6%/yr); 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,290/mo this rent would consume 102% of the median local household income ($39k/yr) (locally 6917% 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 $6k of equity ($3k loan paydown + $3k appreciation (0.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($413k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $329,048 (29.8% 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 311 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. 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?
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: 0.70% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.86%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.69×
• Total profit: $-41,058
• Equity at exit: $152,032

10-year hold

• IRR: -1.0%
• Equity multiple: 0.89×
• Total profit: $-15,088
• Equity at exit: $195,932

Cash invested: $131,320 (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 10451

• Home prices YoY: 0.7%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $3,290 medium
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $-642

Break-even live

Break-even rent $4,103

Max offer price $376,149

Occupancy floor —

Sensitivity live

Price	-10% $-318	-5% $-480	+0% $-642	+5% $-804	+10% $-966
Rent	-10% $-902	-5% $-772	+0% $-642	+5% $-512	+10% $-382
Rate	-1.0pp $-405	-0.5pp $-522	base $-642	+0.5pp $-763	+1.0pp $-887

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2360 Amsterdam Ave Unit 6A New York, NY	3.0	2.0	1175	$4,500	$3.83	25d	1	1.29mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-21
   days on market $469,000 Active 311 DOM
2. 2026-06-18
   days on market $469,000 Active 308 DOM
3. 2026-06-17
   days on market $469,000 Active 307 DOM
4. 2026-06-15
   days on market $469,000 Active 305 DOM
5. 2026-06-13
   days on market $469,000 Active 303 DOM
6. 2026-06-10
   days on market $469,000 Active 299 DOM
7. 2026-06-08
   days on market $469,000 Active 298 DOM
8. 2026-06-03
   days on market $469,000 Active 293 DOM
9. 2026-06-01
   days on market $469,000 Active 291 DOM
10. 2026-05-31
    days on market $469,000 Active 290 DOM
11. 2025-08-09
    listed $469,000 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,486
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$3,159
• − Management: −$3,159
• − Depreciation: −$13,644
• Taxable loss: −$16,127
• Est. tax savings @ 24.0%: +$3,870
• After-tax cash flow: $-3,830/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): 50,942
• Household income: $38,770
• Rent vs Own: 86.4% rent · 13.6% own
• Severe rent burden: 6917.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% Black 40% Two or more races 12% White 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 24%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 29% · Canada, United Kingdom, China
• Languages at home: 46% English-only · Spanish 42% French/Haitian/Cajun 3% Arabic 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: ▲ 0.67%
• Current HPI: 102.1498
• Rent YoY: ▲ 2.57%
• 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

1 event — show timeline

• 2025-08-09 Listed $469,000 OneKey® MLS as Distributed by MLS Grid