1011 Boston Rd · New York, NY 10456

$1,100,000

9 bd · 6.0 ba · 3,166 sqft · MultiFamily public records · 35 Days on market

Built 2006 1,879 sqft lot Est $874k · 26% 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 +9.3/10.0
• Cash flow +7.7/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.8/10.0
• 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

3 FAMILY BRICK SEM-DETACHED, FULLY OCCUPIED, 1ST FLOOR 2BRS/2BTHS, 2ND FLOOR 3BRS/2BTHS, 3RD FLOOR 3BRS/2BTHS, FULL FINESHED BASEMENT, CLOSED TO SHOP AND TRANSPORTATION, INVESTMENT PROPERTY IN VERY GOOD CONDITIONS. ALL PAYING TENANT, SOLD AS IS.

Key facts

• 1,879 sq ft lot
• Built 2006
• Listed 35 days

Property features AI

Exterior

• Parking: No carport; No designated parking
• Utilities: Public sewer; Electricity available; Natural gas available
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units; One 2-bedroom unit
• Bathrooms: Six full bathrooms
• Heating & cooling: Baseboard heating; Electric cooling
• Interior features: Formal dining area; Finished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-421/mo.
• To cash-flow at today's rent, offer at most $917k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $802k (27.1% below list).
• Recommended offer: $802k (27.1% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: 52 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 $8,022/mo this rent would consume 275% of the median local household income ($35k/yr) (locally 11195% 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 $102k of equity ($8k loan paydown + $94k appreciation (8.6% 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 ~$163k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($1.07M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $450k; list at $1.10M implies a 144% gain — meaningful room to come down on a strong offer.

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 $802,200 (27.1% 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 35 days. Have you received any prior offers? Is the seller open to a 27% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.73% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $873,816
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1100 Jackson Ave	0.23mi	8/4.0 (-1)	3,234 (+2%)	3mo	$799,999	$247	70
1027 Boston Rd	0.03mi	8/5.0 (-1)	3,402 (+8%)	10mo	$1,039,000	$305	69
1046 College Ave	0.48mi	9/4.0	2,790 (-12%)	4mo	$769,000	$276	47
759 Home St	0.35mi	9/3.0	3,550 (+12%)	24mo	$930,000	$262	32
713 Eagle Ave	0.52mi	10/3.0 (+1)	2,970 (-6%)	22mo	$948,200	$319	30

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

Projected returns pro-forma

8.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 2.34×
• Total profit: $411,846
• Equity at exit: $877,319

10-year hold

• IRR: 16.6%
• Equity multiple: 5.08×
• Total profit: $1,257,925
• Equity at exit: $1,782,738

Cash invested: $308,000 (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 10456

• Home prices YoY: 3.0%
• Active inventory: 52
• Price-to-rent: 34.3×

Monthly cashflow live

• Estimated rent: $8,022 medium
• Mortgage (P&I): −$5,769
• Tax est. 1.5%: −$1,375 /mo · $16,500/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,685
• Net cashflow: $-1,264

Break-even live

Break-even rent $9,623

Max offer price $917,029

Occupancy floor —

Sensitivity live

Price	-10% $-504	-5% $-884	+0% $-1,264	+5% $-1,645	+10% $-2,025
Rent	-10% $-1,898	-5% $-1,581	+0% $-1,264	+5% $-948	+10% $-631
Rate	-1.0pp $-711	-0.5pp $-985	base $-1,264	+0.5pp $-1,550	+1.0pp $-1,839

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$8,022
Total (3 units)			$8,022

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-16
   status Pending
2. 2026-04-11
   listed $1,100,000 Active
3. 2009-06-02
   soldstatus $450,000
4. 2005-02-18
   soldstatus $260,000
5. 2004-07-19
   soldstatus $150,000
6. 1995-08-25
   soldstatus $1,000
7. 1988-11-22
   soldstatus $32,000

ⓘ 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: $96,264
• − Mortgage interest: −$61,617
• − Property taxes: −$16,500
• − Insurance: −$5,500
• − Repairs & maintenance: −$7,701
• − Management: −$7,701
• − Depreciation: −$32,000
• Taxable loss: −$34,755
• Est. tax savings @ 24.0%: +$8,341
• After-tax cash flow: $-6,832/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): 87,533
• Household income: $34,954
• Rent vs Own: 93.1% rent · 6.9% own
• Severe rent burden: 11195.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 52% Black 41% Two or more races 14% White 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 15% Dominican 26%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 44% French/Haitian/Cajun 3% Other Indo-European 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: ▲ 8.55%
• Current HPI: 293.766
• Rent YoY: —
• 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

+3337.5% since first listed

7 events — show timeline

• 2026-05-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-11 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2009-06-02 Sold (Public Records) $450,000 Public Records
• 2005-02-18 Sold (Public Records) $260,000 Public Records
• 2004-07-19 Sold (Public Records) $150,000 Public Records
• 1995-08-25 Sold (Public Records) $1,000 Public Records
• 1988-11-22 Sold (Public Records) $32,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,529 · +0.0% YoY. Source: county tax records.