2 Fordham Hill Oval Unit 12E · New York, NY 10468

$145,000

1 bd · 1.0 ba · 725 sqft · Condo · 127 Days on market

Built 1950 ↓ 18% since listing

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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 +9.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautifully renovated one-bedroom apartment offering a bright, airy layout and stunning open views in a meticulously maintained, 24-hour gated community. This move-in-ready residence features refinished parquet hardwood floors throughout, oversized windows that flood the space with natural light, and a thoughtfully updated interior designed for comfort and functionality. The modern kitchen boasts sleek white cabinetry, contemporary finishes, stainless steel appliances, and ample storage, while the updated bathroom features clean, timeless tilework and modern fixtures. The generously sized bedroom easily accommodates a queen-size bed and additional furniture, creating a peaceful retreat with

Key facts

• Gated community
• Open views
• Renovated apartment

Tags

• RENOVATED APARTMENT
• OPEN VIEWS
• GATED COMMUNITY
• OVERSIZED WINDOWS
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: County: Bronx County
• HOA & community: Association fee includes utilities, cable TV, common area maintenance, electricity, gas, heat, hot water, snow removal, trash, water and other services

Exterior

• Parking: Common parking; Garage access (1 garage space); Off-site parking available; Parking lot; Unassigned spaces; Underground parking; Valet
• Utilities: Public sewer; Natural gas connected; Utilities described in remarks
• Home design: Stock cooperative; 16-story building; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Microwave; Refrigerator; Other built-in appliances
• Bedrooms: Total rooms: 4 (includes bedrooms; specific bedroom counts/levels not provided)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); Wall/window air conditioning units
• Interior features: Elevator; Entrance foyer; Basement with finished common areas, storage space and walk-out access
• Laundry & utility: Washer/dryer info not specified

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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: Rents rising fast (+6.7%/yr); 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,153/mo this rent would consume 56% of the median local household income ($46k/yr) (locally 9659% 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 $2k of equity ($1k loan paydown + $730 appreciation (0.5% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 6.7% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: 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→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.48% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.65%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.5% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.28×
• Total profit: $52,065
• Equity at exit: $45,792

10-year hold

• IRR: 30.4%
• Equity multiple: 5.00×
• Total profit: $162,599
• Equity at exit: $58,082

Cash invested: $40,600 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 122
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,153 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $699

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 63%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$2,775	$2.45	22d	3	1.08mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $145,000 Active 127 DOM
2. 2026-06-17
   days on market $145,000 Active 126 DOM
3. 2026-06-15
   days on market $145,000 Active 124 DOM
4. 2026-06-13
   days on market $145,000 Active 122 DOM
5. 2026-06-10
   days on market $145,000 Active 118 DOM
6. 2026-06-08
   days on market $145,000 Active 117 DOM
7. 2026-06-04
   days on market $145,000 Active 113 DOM
8. 2026-06-03
   pricedays on market $145,000 Active 112 DOM
9. 2026-06-01
   days on market $155,000 Active 110 DOM
10. 2026-05-31
    days on market $155,000 Active 109 DOM
11. 2026-04-03
    price $155,000
12. 2026-02-11
    listed $160,000 Active
13. 2026-02-02
    historical
14. 2026-01-23
    price $169,888
15. 2026-01-22
    price $169,888
16. 2025-12-31
    price $179,888
17. 2025-12-31
    price $179,888
18. 2025-12-20
    listed $189,888 Active
19. 2008-06-19
    historical
20. 2007-12-20
    listed
21. 2006-06-20
    historical
22. 2005-12-05
    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 · 14 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: $25,833
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,067
• − Management: −$2,067
• − Depreciation: −$4,218
• Taxable income: $6,459
• Est. tax owed @ 24.0%: −$1,550
• After-tax cash flow: $6,833/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): 75,557
• Household income: $46,233
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 9659.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Black 17% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 11% Dominican 45%
• Common ancestry: Hispanic 1%
• Foreign-born: 46% · Canada, Vietnam, Jamaica
• Languages at home: 22% English-only · Spanish 69% French/Haitian/Cajun 1% 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: ▲ 0.50%
• Current HPI: 249.8923
• Rent YoY: ▲ 6.70%
• 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

-18.4% since first listed

12 events — show timeline

• 2026-04-03 Price Changed $155,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-11 Listed $160,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $169,888 BNYMLS
• 2026-01-22 Price Changed $169,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-31 Price Changed $179,888 BNYMLS
• 2025-12-31 Price Changed $179,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-20 Listed $189,888 OneKey® MLS as Distributed by MLS Grid
• 2008-06-19 Delisted — HGMLS
• 2007-12-20 Listed — HGMLS
• 2006-06-20 Delisted — HGMLS
• 2005-12-05 Listed — HGMLS