2275 Cruger Ave Unit 3A · New York, NY 10467

$215,000

2 bd · 1.0 ba · 980 sqft · Condo · 54 Days on market

Built 1950 $1206/mo HOA · 39% of rent ↓ 7% since listing

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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).

• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Subletting Allowed Right Away! Welcome to this rarely available, oversized 2-bedroom, 1-bathroom apartment in the heart of Pelham Bay, Bronx. Only one Block away from Pelham Bay Subway 5 & 2 Train line. This UNIT offers an ideal layout with generously sized rooms and a separate, expansive living area perfect for both relaxing and entertaining. The fully renovated bathroom features sleek, modern finishes, adding a fresh and stylish touch to the home. Both bedrooms offer ample space, making them comfortable and versatile with full closets. This well-maintained elevator building is currently undergoing an elevator upgrade, with work nearly complete—bringing added convenience. Pets

Key facts

• Garage parking space
• On-site laundry room
• Elevator upgrade

Tags

• FULLY RENOVATED BATHROOM
• ELEVATOR UPGRADE
• ON-SITE LAUNDRY ROOM
• GARAGE PARKING SPACE
• PRIME PELHAM BAY LOCATION

Property features AI

Finance

• HOA & community: Association with monthly fee of $1,206; Association fee includes heat and hot water; Additional monthly assessment of $68 (temporary; ends 03/31)

Exterior

• Parking: Garage; Monthly parking fee of $150; Garage accommodates multiple vehicles (50 garage spaces listed)
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Primary bathroom; Basement (common); Total of 5 rooms; Entry on level 3; Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (18.5% below list).
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $175k (18.5% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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 fast (+9.2%/yr); 131 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $3,059/mo this rent would consume 74% of the median local household income ($49k/yr) (locally 10930% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,191 (18.5% 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 54 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 1.42% ✓
• Cap rate: 4.76%
• Cash-on-cash: -5.48%
• DSCR: 0.76
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.41×
• Total profit: $-35,407
• Equity at exit: $32,057

10-year hold

• IRR: 3.9%
• Equity multiple: 1.39×
• Total profit: $23,386
• Equity at exit: $18,589

Cash invested: $60,200 (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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 131
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,059 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$1,206
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $-275

Break-even live

Break-even rent $3,407

Max offer price $175,191

Occupancy floor —

Sensitivity live

Price	-10% $-127	-5% $-201	+0% $-275	+5% $-349	+10% $-424
Rent	-10% $-517	-5% $-396	+0% $-275	+5% $-154	+10% $-33
Rate	-1.0pp $-167	-0.5pp $-220	base $-275	+0.5pp $-331	+1.0pp $-388

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Pelham Pkwy S Unit B Bronx, NY	1.0	1.0	725	$2,850	$3.93	25d	1	0.87mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	25d	1	1.02mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	21d	1	1.02mi
784 Garden St Unit 2 Bronx, NY	3.0	1.0	900	$3,399	$3.78	0d	1	1.10mi

HOA detail condo

• Monthly dues: $1,206 · $14,472/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $215,000 Active 54 DOM
2. 2026-06-18
   days on market $215,000 Active 51 DOM
3. 2026-06-17
   days on market $215,000 Active 50 DOM
4. 2026-06-16
   days on market $215,000 Active 49 DOM
5. 2026-06-15
   days on market $215,000 Active 48 DOM
6. 2026-06-13
   days on market $215,000 Active 46 DOM
7. 2026-06-10
   days on market $215,000 Active 42 DOM
8. 2026-06-08
   days on market $215,000 Active 41 DOM
9. 2026-06-08
   days on market $215,000 Active 40 DOM
10. 2026-06-04
    days on market $215,000 Active 37 DOM
11. 2026-06-03
    days on market $215,000 Active 36 DOM
12. 2026-06-01
    days on market $215,000 Active 34 DOM
13. 2026-05-31
    days on market $215,000 Active 33 DOM
14. 2026-05-12
    price $215,000
15. 2026-04-28
    listed $230,000 Active
16. 2026-04-25
    status Active
17. 2026-04-21
    listed $230,000 Active
18. 2009-01-27
    historical
19. 2008-09-18
    listed
20. 2007-03-14
    historical
21. 2006-10-09
    listed

ⓘ 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 · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,709
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,937
• − Management: −$2,937
• − HOA: −$14,472
• − Depreciation: −$6,255
• Taxable loss: −$6,234
• Est. tax savings @ 24.0%: +$1,496
• After-tax cash flow: $-1,805/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): 96,421
• Household income: $49,330
• Rent vs Own: 85.8% rent · 14.2% own
• Severe rent burden: 10930.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 53% Black 28% Two or more races 11% White 9% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 22%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 41% English-only · Spanish 45% Other Indo-European 7% French/Haitian/Cajun 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: ▼ -112.76%
• Current HPI: 231.537
• Rent YoY: ▲ 9.23%
• 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

-6.5% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-28 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-21 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2009-01-27 Delisted — HGMLS
• 2008-09-18 Listed — HGMLS
• 2007-03-14 Delisted — HGMLS
• 2006-10-09 Listed — HGMLS