1539 Longfellow Ave #2 · New York, NY 10460

$889,000

4 bd · 2.0 ba · 2,000 sqft · MultiFamily · 1 Days on market

Built 1996 2,500 sqft lot Est $828k · 7% over

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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).

• Appreciation +8.7/10.0
• Cash flow +7.0/30.0
• Schools +5.0/10.0
• ARV discount +4.2/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0

Multi-family units

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

Listing remarks

Beautiful legal 2-family home in the Bronx, perfect for an owner-occupant seeking additional space or rental income. Features spacious living areas, energy-efficient solar panels, and an HOA that helps maintain the community. Conveniently located near shopping, schools, public transportation, and major roadways. A wonderful opportunity to enjoy homeownership while benefiting from the flexibility of a legal 2-family property.

Key facts

• Legal 2-family home
• 2,500 sq ft lot
• 2 garage spots

Tags

• LEGAL 2-FAMILY HOME
• ENERGY-EFFICIENT SOLAR PANELS
• SPACIOUS LIVING AREAS

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public sewer; Natural gas available
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Solar heating; ENERGY STAR qualified cooling equipment
• Interior features: Eat-in kitchen; Formal dining room
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $889k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative. Per door: $-655/mo.
• To cash-flow at today's rent, offer at most $699k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $612k (31.2% below list).
• Recommended offer: $612k (31.2% below list) — sets the bar for 1% rule.
• Cap rate 4.5% 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: 78 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 $6,118/mo this rent would consume 202% of the median local household income ($36k/yr) (locally 7852% 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 $72k of equity ($6k loan paydown + $66k appreciation (7.5% 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 ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $611,800 (31.2% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.32%
• DSCR: 0.72
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $828,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1473 Longfellow Ave	0.13mi	4/2.0	1,950 (-2%)	22mo	$749,000	$384	72
1333 Chisholm St	0.54mi	5/4.0 (+1)	2,000 (0%)	2mo	$863,000	$432	60
865 Home St	0.69mi	5/3.0 (+1)	1,992 (-0%)	6mo	$867,000	$435	53
972 Home St	0.43mi	5/2.0 (+1)	2,160 (+8%)	18mo	$830,000	$384	46
859 Home St	0.70mi	5/2.5 (+1)	1,992 (-0%)	18mo	$825,000	$414	45
975 E 178th St	0.63mi	5/3.0 (+1)	2,205 (+10%)	4mo	$900,000	$408	42
977 E 179th St	0.69mi	5/3.0 (+1)	2,205 (+10%)	1mo	$725,000	$329	41
1149 Simpson St	0.56mi	5/3.0 (+1)	2,280 (+14%)	11mo	$965,000	$423	32

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

Projected returns pro-forma

7.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 2.01×
• Total profit: $252,620
• Equity at exit: $643,242

10-year hold

• IRR: 14.0%
• Equity multiple: 4.19×
• Total profit: $795,093
• Equity at exit: $1,247,323

Cash invested: $248,920 (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 10460

• Home prices YoY: 3.5%
• Active inventory: 78
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $6,118 medium
• Mortgage (P&I): −$4,662
• Tax est. 1.5%: −$1,111 /mo · $13,335/yr
• Insurance: −$370
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,285
• Net cashflow: $-1,310

Break-even live

Break-even rent $7,777

Max offer price $699,374

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,118
Total (2 units)			$6,118

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: $222,250
• Closing costs: $26,670
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-02
   remarks 428-char remark
2. 2026-06-02
   listed $889,000 Active 1 DOM

ⓘ 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 7/10 Severe 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: $73,416
• − Mortgage interest: −$49,798
• − Property taxes: −$13,335
• − Insurance: −$4,445
• − Repairs & maintenance: −$5,873
• − Management: −$5,873
• − Depreciation: −$25,862
• Taxable loss: −$31,770
• Est. tax savings @ 24.0%: +$7,625
• After-tax cash flow: $-8,101/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): 59,396
• Household income: $36,309
• Rent vs Own: 90.6% rent · 9.4% own
• Severe rent burden: 7852.0

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 (65%)
• Race & ethnicity: Hispanic / Latino 65% Black 27% Two or more races 20% White 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 23% Dominican 28%
• Foreign-born: 33% · Canada
• Languages at home: 38% English-only · Spanish 54% French/Haitian/Cajun 2% 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: ▲ 7.46%
• Current HPI: 224.0425
• 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

1 event — show timeline

• 2026-06-01 Listed $889,000 OneKey® MLS as Distributed by MLS Grid