2043 Bathgate Ave · New York, NY 10457

$699,000

4 bd · 2.0 ba · 1,512 sqft · MultiFamily public records · 11 Days on market

Built 1901 2,483 sqft lot Est $708k · at est.

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Why this score? — see what drove the C+ 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 +21.6/30.0
• ARV discount +8.0/15.0
• Appreciation +7.1/10.0
• DSCR +6.9/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• 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

Newly Renovated Detached Two-Family Home in the Heart of Tremont! Situated on a 25' x 99' lot, this freestanding property offers an excellent opportunity for owner-occupants. The first-floor unit features 4 spacious bedrooms, 1 full bathroom, a bright living area, and an updated kitchen. The second-floor unit offers 3 generously sized bedrooms, 1 full bathroom, and a functional layout designed for comfortable living. The home also includes a full basement, detached garage, and private outdoor space. Conveniently located near public transportation, shopping, schools, parks, and major highways. A great income-producing property with strong rental potential in a rapidly growing Bronx neighborh

Key facts

• Approximately 2
• 2,483 sq ft lot
• Built 1901

Tags

• DETACHED 2-FAMILY HOME
• FULL FINISHED BASEMENT
• APPROXIMATELY 2

Property features AI

Exterior

• Parking: No carport; Other parking features
• Utilities: Public sewer; Electricity available; Natural gas available; Public trash collection
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Wall/window air conditioning units; Oil heating; Radiant heating; Other heating features
• Interior features: Finished basement; Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $533/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $672k (3.8% below list).
• Recommended offer: $672k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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: 49 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 $6,723/mo this rent would consume 189% of the median local household income ($43k/yr) (locally 8573% 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 $35k of equity ($5k loan paydown + $30k appreciation (4.3% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $196k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y ago 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 $455k; list at $699k implies a 54% 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 $672,300 (3.8% below list)

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 1901 — 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: 0.96% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $707,616
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4465 Park Ave	0.30mi	4/—	1,497 (-1%)	9mo	$700,000	$468	77
2249 Bassford Ave	0.32mi	5/2.0 (+1)	1,716 (+14%)	2mo	$510,000	$297	56

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

Projected returns pro-forma

4.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 2.03×
• Total profit: $200,969
• Equity at exit: $366,572

10-year hold

• IRR: 17.4%
• Equity multiple: 3.88×
• Total profit: $562,723
• Equity at exit: $609,477

Cash invested: $195,720 (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 →

ZIP-level market 10457

• Home prices YoY: 2.8%
• Active inventory: 49
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $6,723 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$288 /mo · $3,461/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,412
• Net cashflow: $1,066

Break-even live

Break-even rent $5,374

Max offer price $699,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,462	-5% $1,264	+0% $1,066	+5% $868	+10% $670
Rent	-10% $535	-5% $800	+0% $1,066	+5% $1,331	+10% $1,597
Rate	-1.0pp $1,418	-0.5pp $1,244	base $1,066	+0.5pp $885	+1.0pp $701

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,722
Total (2 units)			$6,723

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $699,000 Active 11 DOM
2. 2026-06-18
   days on market $699,000 Active 8 DOM
3. 2026-06-17
   days on market $699,000 Active 7 DOM
4. 2026-06-16
   days on market $699,000 Active 6 DOM
5. 2026-06-15
   days on market $699,000 Active 5 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $699,000 Active 3 DOM

ⓘ 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: $3,461 · $288/mo
• Projected year-2 tax: $7,637 · $636/mo
• Expected delta: +$4,176/yr (+$348/mo · 120.7%)

ⓘ 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: $80,676
• − Mortgage interest: −$39,155
• − Property taxes: −$3,461
• − Insurance: −$3,495
• − Repairs & maintenance: −$6,454
• − Management: −$6,454
• − Depreciation: −$20,335
• Taxable income: $1,323
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $12,473/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): 79,543
• Household income: $42,683
• Rent vs Own: 94.8% rent · 5.2% own
• Severe rent burden: 8573.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 32% Two or more races 19% White 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 31%
• Common ancestry: Hispanic 1%
• Foreign-born: 39% · Canada, United Kingdom, Jamaica
• Languages at home: 33% English-only · Spanish 54% French/Haitian/Cajun 2% Arabic 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: ▲ 4.30%
• Current HPI: 160.6434
• 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

+1764.0% since first listed

15 events — show timeline

• 2026-06-10 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-10-15 Listed $789,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-02-25 Price Changed $749,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-05 Sold (Public Records) $455,000 Public Records
• 2019-08-27 Price Changed $489,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-29 Listed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $155,000 HGMLS
• 2010-10-06 Sold (Public Records) $155,000 Public Records
• 2010-09-24 Sold (MLS) $155,000 HGMLS
• 2010-02-16 Price Changed $249,000 HGMLS
• 2010-01-19 Listed $249,000 HGMLS
• 2001-03-05 Sold (Public Records) $200,000 Public Records
• 1999-08-03 Sold (Public Records) $37,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $3,461 · +6.0% YoY. Source: county tax records.