Is 661 Jefferson Pl in New York, NY a good investment?

CashFlowRE grades it A- with a 10.8% cap rate and $2,826/mo modeled cash flow at a $749,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 661 Jefferson Pl?

The modeled cap rate is 10.8% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $9,200/month, from CashFlowRE's rent model.

Multi-family

A- Composite 83.51

Why this score? — see what drove the A- 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).

Cash flow +30.0/30.0
ARV discount +15.0/15.0
DSCR +10.0/10.0
Appreciation +9.3/10.0
1% rule +7.3/10.0
Schools +4.2/10.0
Livability +3.8/5.0
Rent growth +2.5/5.0
Condition / age +1.5/5.0

$749,000

661 Jefferson Pl · New York, NY 10456

10 bd · 3.0 ba · 2,463 sqft · MultiFamily public records · 142 Days on market

Built 1901 Poor condition 1,942 sqft lot $304/sqft · 43% below area Est $1.321M · 43% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Exceptional investment opportunity at 661 Jefferson Place in the Bronx! This property is configured as a 10-bedroom Single Room Occupancy (SRO) and is currently arranged as three separate apartments, featuring 3 kitchens and 3 bathrooms. The layout offers strong income potential with multiple rentable rooms and flexible living arrangements. The property also includes a full cellar providing additional storage and utility access. Conveniently located near public transportation, schools, shopping, and neighborhood amenities, this property is ideal for investors seeking a high-yield rental opportunity in a growing Bronx neighborhood.

Key facts

Utility access
Conveniently located
1,942 sq ft lot

What this means for you Summary

Snapshot

This is a 10-bed/3.0-bath multifamily listed at $749k. Condition is rated poor.

Deal economics

At list price, monthly cash flow is $3k ($34k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($9k rent vs $749k).
Recommended offer: $659k (12.0% below list) — sets the bar for market timing.
Cap rate 10.8% vs local median 2.7% 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: 62 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).

Forward outlook

In year one you build about $69k of equity ($5k loan paydown + $64k appreciation (8.6% local appreciation)).
Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
At projected returns (8.6% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~2 years — after that, you're playing with house money.
By year 2, paydown + projected appreciation supports a ~$111k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

It's been on market 142 days — a 12% lower offer ($659k) 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.
Current owner paid $345k; list at $749k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
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 $659,120 (12.0% below list)

Questions for the listing agent

It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 1.23% ✓
Cap rate: 10.82%
Cash-on-cash: 16.17%
DSCR: 1.72
GRM: 6.8

CMA / ARV

ARV (median comp): $1,320,986
List price: $749,000
Delta: -43.30%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1352 Prospect Ave	0.24mi	8/3.0 (-2)	3,096 (+26%)	4mo	$780,000	$252	50
1346 Fteley Ave	1.40mi	11/3.0 (+1)	2,400 (-3%)	8mo	$1,280,000	$533	50
2257 Hampden Pl	2.04mi	8/3.0 (-2)	2,740 (+11%)	2mo	$1,120,000	$409	35
1377 Teller Ave	0.59mi	8/4.0 (-2)	2,200 (-11%)	8mo	$995,000	$452	34
1236 Evergreen Ave	0.96mi	8/5.0 (-2)	2,604 (+6%)	8mo	$1,200,000	$461	31
1046 College Ave	0.87mi	9/4.0 (-1)	2,790 (+13%)	5mo	$769,000	$276	30
1254 Rosedale Ave	1.58mi	8/3.0 (-2)	3,000 (+22%)	7mo	$1,162,000	$387	24
1168 Sherman Ave	0.91mi	11/4.0 (+1)	3,104 (+26%)	8mo	$850,000	$274	24
1678 Monroe Ave	0.83mi	8/3.0 (-2)	2,820 (+14%)	8mo	$1,025,000	$363	24
2153 Belmont Ave	1.28mi	11/4.0 (+1)	2,850 (+16%)	12mo	$950,000	$333	21
451 W 162nd St	2.11mi	8/4.0 (-2)	3,090 (+26%)	8mo	$1,800,000	$583	20
1143 Leland Ave	1.89mi	9/6.0 (-1)	2,040 (-17%)	8mo	$1,225,000	$600	17

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: 33.6%
Equity multiple: 3.46×
Total profit: $514,863
Equity at exit: $597,375

10-year hold

IRR: 29.6%
Equity multiple: 7.49×
Total profit: $1,361,447
Equity at exit: $1,213,883

Cash invested: $209,720 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 3 active · 1 under contract
Months of supply: 18.0 mo (6%/mo absorbed)
Median asking: $1,150,000 ($383/sqft)
Median days on market: 115 d
This list price: lowest-priced of the active set
ARV vs active asking: +39.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 10456

Home prices YoY: 3.0%
Active inventory: 62
Price-to-rent: 20.4×

Monthly cashflow live

Estimated rent: $9,200 medium interval (Pro) →
Mortgage (P&I): −$3,928
Tax from tax record: −$202 /mo · $2,425/yr
Insurance: −$312
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$1,932
Net cashflow: $2,826

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$9,201
#1	3	1	$3,067
#2	3	1	$3,067
#3	3	1	$3,067
Total (3 units)			$9,200

Break-even live

Break-even rent $5,623

Max offer price $749,000

Occupancy floor 64%

Sensitivity live

Price	-10% $3,250	-5% $3,038	+0% $2,826	+5% $2,614	+10% $2,402
Rent	-10% $2,099	-5% $2,463	+0% $2,826	+5% $3,189	+10% $3,553
Rate	-1.0pp $3,203	-0.5pp $3,017	base $2,826	+0.5pp $2,632	+1.0pp $2,434

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: $187,250
Closing costs: $22,470
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 Garden St Unit 2 Bronx, NY	3.0	1.0	400	$3,800	$9.50	63d	1	1.39mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	48d	1	1.39mi

Property features AI

Exterior

Parking: On-street parkingNo carport
Utilities: Public sewerElectricity connectedNatural gas availableSewer connectedWater connected
Home design: Duplex
Construction: Frame construction
Exterior features: Frame constructionNot waterfront

Interior

Kitchen: Eat-in kitchen(s)
Bedrooms: One 2-bedroom unitOne 3-bedroom unitOne 4-bedroom unit
Bathrooms: Three full bathrooms
Heating & cooling: Oil heatingNo central cooling
Interior features: First-floor bedroomFirst-floor full bathroomEat-in kitchenUnfinished basement with Bilco doors and walk-out access
Laundry & utility: Laundry in basement

Listing history 50 events

2026-08-06

days on market $749,000 Active 142 DOM
2026-08-05

days on market $749,000 Active 141 DOM
2026-08-04

days on market $749,000 Active 140 DOM
2026-08-03

days on market $749,000 Active 139 DOM
2026-07-31

days on market $749,000 Active 136 DOM
2026-07-30

days on market $749,000 Active 135 DOM
2026-07-30

days on market $749,000 Active 134 DOM
2026-07-26

days on market $749,000 Active 131 DOM
2026-07-24

days on market $749,000 Active 129 DOM
2026-07-23

days on market $749,000 Active 128 DOM
2026-07-22

days on market $749,000 Active 127 DOM
2026-07-21

days on market $749,000 Active 126 DOM
2026-07-20

days on market $749,000 Active 125 DOM
2026-07-18

days on market $749,000 Active 123 DOM
2026-07-18

days on market $749,000 Active 122 DOM
2026-07-16

days on market $749,000 Active 121 DOM
2026-07-14

days on market $749,000 Active 119 DOM
2026-07-14

days on market $749,000 Active 118 DOM
2026-07-13

days on market $749,000 Active 117 DOM
2026-07-11

days on market $749,000 Active 116 DOM
2026-07-10

days on market $749,000 Active 115 DOM
2026-07-09

days on market $749,000 Active 114 DOM
2026-07-07

days on market $749,000 Active 112 DOM
2026-07-06

days on market $749,000 Active 111 DOM
2026-07-05

days on market $749,000 Active 109 DOM
2026-07-03

days on market $749,000 Active 108 DOM
2026-07-02

days on market $749,000 Active 107 DOM
2026-07-01

days on market $749,000 Active 106 DOM
2026-06-30

days on market $749,000 Active 105 DOM
2026-06-29

days on market $749,000 Active 104 DOM
2026-06-28

days on market $749,000 Active 103 DOM
2026-06-27

days on market $749,000 Active 102 DOM
2026-06-26

days on market $749,000 Active 101 DOM
2026-06-24

days on market $749,000 Active 99 DOM
2026-06-22

days on market $749,000 Active 97 DOM
2026-06-21

days on market $749,000 Active 96 DOM
2026-06-18

days on market $749,000 Active 93 DOM
2026-06-17

days on market $749,000 Active 92 DOM
2026-06-15

days on market $749,000 Active 90 DOM
2026-06-13

days on market $749,000 Active 88 DOM
2026-06-10

days on market $749,000 Active 84 DOM
2026-06-08

days on market $749,000 Active 83 DOM
2026-06-08

days on market $749,000 Active 82 DOM
2026-06-04

days on market $749,000 Active 79 DOM
2026-06-03

days on market $749,000 Active 78 DOM
2026-06-01

days on market $749,000 Active 76 DOM
2026-05-31

days on market $749,000 Active 75 DOM
2026-03-17

status Active
2026-03-10

listed $749,000 Active
2004-03-06

soldstatus $345,000

ⓘ 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: $2,425 · $202/mo
Projected year-2 tax: $7,541 · $628/mo
Expected delta: +$5,117/yr (+$426/mo · 211.0%)

ⓘ 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 · 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $110,400
− Mortgage interest: −$41,956
− Property taxes: −$2,425
− Insurance: −$3,745
− Repairs & maintenance: −$8,832
− Management: −$8,832
− Depreciation: −$21,789
Taxable income: $22,822

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$5,477
After-tax cash flow: $28,435/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.

Condition & rehab AI · 10 photos

Poor 30/100 Extensive rehab Est. rehab $123,150–$221,670 screening

This property requires extensive renovations to bring it up to current standards, with a focus on kitchens and bathrooms. The investment opportunity is significant, as the property is located in a growing Bronx neighborhood with strong income potential.

Deferred maintenance Est. $70,000–$210,000 screening

Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No roof material or condition visible
Major Hvac (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No HVAC type or condition visible
Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No window condition or type visible
Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No electrical panel or condition visible
Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No plumbing condition or type visible
Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No exterior condition or type visible
Major Other (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No other deferred maintenance visible

Repairs flagged

Major Kitchen cabinets — Old cabinets need replacement or renovation.
Major Bathroom fixtures — Old fixtures need replacement or renovation.
Major Siding — Weathered siding needs repainting or replacement.
Major Flooring — Worn and outdated flooring needs replacement.
Major Paint — Peeling paint needs repainting.
Major Windows — Old, possibly single-pane windows need replacement.

Value-add opportunities

Both Kitchen renovation — A new kitchen will attract more buyers and renters. ↑
Both Bathroom renovation — Upgraded bathrooms will attract more buyers and renters. ↑
Both Exterior painting and landscaping — A fresh exterior and landscaping will improve curb appeal. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Ps 63 Author's Academy Middle Is 219 New Venture School High Voyages Preparatory F NY #1,046/1,100 Nat'l #7,572/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 1,607,353 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: 10% of renters

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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

+649.0% since first listed

5 events — show timeline

2026-03-17 Relisted — OneKey® MLS as Distributed by MLS Grid
2026-03-10 Listed $749,000 OneKey® MLS as Distributed by MLS Grid
2004-03-06 Sold (Public Records) $345,000 Public Records
2002-08-02 Sold (Public Records) $195,000 Public Records
1993-02-24 Sold (Public Records) $100,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,425 · +6.0% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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