2 Fordham Hill Oval Unit 1G · New York, NY 10468

$90,000

1 bd · 1.0 ba · 725 sqft · Condo · 81 Days on market

Built 1950 Fair condition

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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 +10.0/10.0
• 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 +2.0/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks

Apartment photos are for layout purpose and are digitally enhanced. This is an Affordable Homeownership in a Secure 7-Acre Park-line Community. This spacious 1 bedroom is a "Rare opportunity to design and renovate to your own taste while building instant equity in one of the Bronx's most amenity-rich communities. Even after renovations, you may still be below the cost of purchasing a fully renovated comparable unit. This affordable 1-bedroom coop offers: All Utilities (gas, electric, heat & water), 24-hour security, On-site Laundry, Gym, Community room, Beautiful 7- arce park-like grounds. All this is included in the maintenance fee.

Key facts

• Gated community
• Customizable unit
• Spacious living room

Tags

• GATED COMMUNITY
• PLENTY OF CLOSET SPACE
• SPACIOUS LIVING ROOM
• CUSTOMIZABLE UNIT

Property features AI

Exterior

• Parking: 1 parking space; 1 garage space
• Utilities: Cable available and connected; Electricity available; Natural gas available; No sewer service listed
• Home design: Stock cooperative; 16 total stories; Entry on level 1
• Construction: Block construction
• Exterior features: Block construction; Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 rooms total (includes bedroom(s))
• Bathrooms: 1 full bathroom
• Heating & cooling: ENERGY STAR qualified heating equipment; No cooling
• Interior features: Elevator; Pet-friendly for cats
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-440 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 0.4% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents rising fast (+6.7%/yr); 124 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 $1k of equity ($622 loan paydown + $453 appreciation (0.5% local appreciation)).
• 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 81 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 71% 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→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% 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 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 2.39% ✓
• Cap rate: 0.42%
• Cash-on-cash: -20.97%
• DSCR: 0.07
• GRM: 3.5

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: -14.7%
• Equity multiple: 0.24×
• Total profit: $-19,246
• Equity at exit: $28,423

10-year hold

• IRR: 0.6%
• Equity multiple: 1.09×
• Total profit: $2,158
• Equity at exit: $36,051

Cash invested: $25,200 (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 10468

• Home prices YoY: 0.2%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,153 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA est. from 1 same-building comp: −$1,519
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-440

Break-even live

Break-even rent $2,710

Max offer price $26,288

Occupancy floor —

Sensitivity live

Price	-10% $-378	-5% $-409	+0% $-440	+5% $-471	+10% $-502
Rent	-10% $-610	-5% $-525	+0% $-440	+5% $-355	+10% $-270
Rate	-1.0pp $-395	-0.5pp $-417	base $-440	+0.5pp $-464	+1.0pp $-487

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: $22,500
• Closing costs: $2,700
• 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	23d	3	1.02mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $90,000 Active 81 DOM
2. 2026-06-18
   days on market $90,000 Active 78 DOM
3. 2026-06-17
   days on market $90,000 Active 77 DOM
4. 2026-06-15
   remarks 643-char remark
5. 2026-06-15
   days on market $90,000 Active 75 DOM
6. 2026-06-13
   days on market $90,000 Active 73 DOM
7. 2026-06-10
   days on market $90,000 Active 69 DOM
8. 2026-06-08
   days on market $90,000 Active 68 DOM
9. 2026-06-08
   days on market $90,000 Active 67 DOM
10. 2026-06-04
    days on market $90,000 Active 64 DOM
11. 2026-06-03
    days on market $90,000 Active 63 DOM
12. 2026-06-01
    days on market $90,000 Active 61 DOM
13. 2026-05-31
    days on market $90,000 Active 60 DOM
14. 2026-04-01
    listed $90,000 Active

ⓘ 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: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$2,067
• − Management: −$2,067
• − HOA: −$18,228
• − Depreciation: −$2,618
• Taxable loss: −$5,988
• Est. tax savings @ 24.0%: +$1,437
• After-tax cash flow: $-3,846/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 · 5 photos

Fair 40/100 Moderate rehab

This property requires significant repairs and updates to its exterior and interior, including roof, siding, landscaping, and interior design. These improvements will significantly enhance its value and appeal to potential buyers/renters.

Repairs flagged

• Major roof — Aerial view shows potential water damage.
• Major siding — Listing photo shows aged siding.
• Major landscaping — Listing photo shows overgrown landscaping.
• Major fencing — Listing photo shows fencing in need of repair or replacement.
• Major interior walls — Listing photo shows walls in need of repair and paint.
• Major flooring — Listing photo shows floors in need of tile replacement.
• Major interior design — Listing photo shows dated interior design, potential need for updates to appeal to buyers/renters.

Value-add opportunities

• Both roof repair — Fixing the roof will improve the overall condition and appeal of the property.
• Both siding repair/replacement — Updating the siding will enhance the curb appeal and property value.
• Both landscaping and fencing repair — Maintaining the landscaping and fencing will improve the property's curb appeal and attract more potential buyers/renters.
• Both interior wall repair and paint — Updating the interior walls will improve the property's condition and make it more appealing to potential buyers/renters.
• Both flooring replacement — Replacing the flooring will improve the property's condition and make it more appealing to potential buyers/renters.
• Both interior design refresh — Refreshing the interior design will make the property more appealing to potential buyers/renters and improve its overall condition.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Aerial view shows potential water damage.	Major	$15,000–50,000
siding · Listing photo shows aged siding.	Major	$15,000–50,000
landscaping · Listing photo shows overgrown landscaping.	Major	$15,000–50,000
fencing · Listing photo shows fencing in need of repair or replacement.	Major	$15,000–50,000
interior walls · Listing photo shows walls in need of repair and paint.	Major	$15,000–50,000
flooring · Listing photo shows floors in need of tile replacement.	Major	$15,000–50,000
interior design · Listing photo shows dated interior design, potential need for updates to appeal to buyers/renters.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both roof repair — Fixing the roof will improve the overall condition and appeal of the property. ↑
• Both siding repair/replacement — Updating the siding will enhance the curb appeal and property value. ↑
• Both landscaping and fencing repair — Maintaining the landscaping and fencing will improve the property's curb appeal and attract more potential buyers/renters. ↑
• Both interior wall repair and paint — Updating the interior walls will improve the property's condition and make it more appealing to potential buyers/renters. ↑
• Both flooring replacement — Replacing the flooring will improve the property's condition and make it more appealing to potential buyers/renters. ↑
• Both interior design refresh — Refreshing the interior design will make the property more appealing to potential buyers/renters and improve its overall condition. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-04-01 Listed $90,000 OneKey® MLS as Distributed by MLS Grid