526 Barretto St · New York, NY 10474

$500,000

4 bd · 3.0 ba · 2,640 sqft · MultiFamily public records · 14 Days on market

Built 1935 2,500 sqft lot

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

TWO FAMILY HOME. THE PROPERTY NEEDS A FULL GUT RENOVATION. Buyers are responsible for outstanding liens in the approximate amount of $150,000.00

Key facts

• Full gut renovation
• Two family home
• 2,500 sq ft lot

Tags

• TWO FAMILY HOME
• FULL GUT RENOVATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $500k).
• Cap rate 12.5% 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: 12 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($3k loan paydown + $15k appreciation (3.0% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $195k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $500k implies a 567% gain — meaningful room to come down on a strong offer.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $500,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.4%
• Equity multiple: 2.61×
• Total profit: $225,485
• Equity at exit: $224,822

10-year hold

• IRR: 29.0%
• Equity multiple: 5.08×
• Total profit: $570,989
• Equity at exit: $346,477

Cash invested: $140,000 (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 10474

• Active inventory: 12
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $7,286 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$330 /mo · $3,958/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,530
• Net cashflow: $2,596

Break-even live

Break-even rent $4,000

Max offer price $500,000

Occupancy floor 59%

Sensitivity live

Price	-10% $2,879	-5% $2,737	+0% $2,596	+5% $2,454	+10% $2,313
Rent	-10% $2,020	-5% $2,308	+0% $2,596	+5% $2,884	+10% $3,171
Rate	-1.0pp $2,848	-0.5pp $2,723	base $2,596	+0.5pp $2,466	+1.0pp $2,334

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$7,286
Total (2 units)			$7,286

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-10-31
   historical
2. 2025-05-01
   listed $695,000 Active
3. 2024-07-25
   status Pending
4. 2024-07-15
   price $500,000
5. 2024-07-11
   listed $299,000 Active
6. 2023-12-26
   soldstatus $75,000
7. 2007-06-14
   soldstatus $515,000
8. 2002-12-20
   soldstatus $175,000

ⓘ 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: $3,958 · $330/mo
• Projected year-2 tax: $6,204 · $517/mo
• Expected delta: +$2,246/yr (+$187/mo · 56.8%)

ⓘ 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

Taxation est. · year 1

• Rental income: $87,432
• − Mortgage interest: −$28,008
• − Property taxes: −$3,958
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,995
• − Management: −$6,995
• − Depreciation: −$14,545
• Taxable income: $24,432
• Est. tax owed @ 24.0%: −$5,864
• After-tax cash flow: $25,285/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): 11,188

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Black 25% Two or more races 18% White 2% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 27% Dominican 22%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 49% English-only · Spanish 47% French/Haitian/Cajun 2%

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: —
• Current HPI: —
• 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

+297.1% since first listed

8 events — show timeline

• 2025-10-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Listed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-07-15 Price Changed $500,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-11 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-26 Sold (Public Records) $75,000 Public Records
• 2007-06-14 Sold (Public Records) $515,000 Public Records
• 2002-12-20 Sold (Public Records) $175,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,958 · +0.9% YoY. Source: county tax records.