2 Fordham Hill Oval Unit 5B · New York, NY 10468

$265,000

2 bd · 1.0 ba · 975 sqft · Condo · 39 Days on market

Built 1950

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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
• 1% rule +10.0/10.0
• DSCR +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 +2.5/5.0

Listing remarks MLS

Lovely renovated 2 bedroom 1 bathroom with Manhattan view. The Kitchen has marble counters top with renovated with stainless Dishwasher & microwave included. $950 maintenance with taxes, water and cable included. Laundry in basement. Storage available with waiting list. Dentist, medical office and hair dresser located on property. $220/month indoor parking. Concierge for packages. Close to buses & shops and the Close to Fordham Metro North station. Ideal for someone looking to keep the Manhattan like apartment for the right price! Contact showing times to schedule. Close to shops, buses & community halls. 24/7 uniformed security patrol of co-op grounds. Private attended parking is available 24/7. Near the 1, 2, 3, 12, 32 Buses and the 4, B, D train and Metro North lines. Minutes away from Broadway shopping center, Monroe College, Bronx Community College, Fordham University and Lehman College. Only 10% down-payment and 700 credit score for the board.***ACCEPTED OFFER!!!****

Key facts

• Ample cabinet space
• Gym
• Granite countertops

Tags

• FULLY RENOVATED KITCHEN
• AMPLE CABINET SPACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• HIGH CEILINGS
• GYM

Property features AI

Exterior

• Parking: On-street parking; No carport
• Utilities: Public sewer; Public trash collection
• Home design: Stock cooperative
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Entry level: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; Wall/window cooling units
• Interior features: Entrance foyer; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,022/mo this rent would consume 104% 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 $3k of equity ($2k loan paydown + $1k 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 $74k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $195k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.52% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.77%
• DSCR: 1.97
• GRM: 5.5

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: 26.0%
• Equity multiple: 2.35×
• Total profit: $99,917
• Equity at exit: $83,689

10-year hold

• IRR: 31.5%
• Equity multiple: 5.16×
• Total profit: $308,517
• Equity at exit: $106,150

Cash invested: $74,200 (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: 122
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $4,022 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $1,346

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 62%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 W 206th St Unit 1202E New York, NY	3.0	2.0	900	$6,250	$6.94	24d	1	0.52mi
2600 Netherland Ave Bronx, NY	1.0–3.0	1.0–2.5	1132	$3,938	$3.48	22d	3	1.02mi
2311 Crotona Ave Apt 1 Bronx, NY	3.0	1.0	950	$3,350	$3.53	20d	1	1.50mi
2311 Crotona Ave Apt 2 Bronx, NY	3.0	1.0	950	$3,350	$3.53	24d	1	1.50mi

HOA detail condo

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

Listing history 25 events

1. 2026-06-17
   pricestatus $265,000 Pending 39 DOM
2. 2026-06-17
   days on market $245,000 Active 39 DOM
3. 2026-06-16
   days on market $245,000 Active 38 DOM
4. 2026-06-15
   days on market $245,000 Active 37 DOM
5. 2026-06-13
   days on market $245,000 Active 35 DOM
6. 2026-06-10
   days on market $245,000 Active 31 DOM
7. 2026-06-08
   days on market $245,000 Active 30 DOM
8. 2026-06-08
   days on market $245,000 Active 29 DOM
9. 2026-06-04
   days on market $245,000 Active 26 DOM
10. 2026-06-03
    days on market $245,000 Active 25 DOM
11. 2026-06-01
    days on market $245,000 Active 23 DOM
12. 2026-05-31
    days on market $245,000 Active 22 DOM
13. 2026-05-09
    listed $245,000 Active
14. 2025-09-13
    historical
15. 2025-03-20
    price $274,900
16. 2025-03-20
    status Active
17. 2025-03-01
    historical
18. 2024-11-15
    listed $280,000 Active
19. 2017-09-27
    soldstatus $195,000 Sold 1002-char remark

    Show marketing remark (1002 chars)

    Lovely renovated 2 bedroom 1 bathroom with Manhattan view. The Kitchen has marble counters top with renovated with stainless Dishwasher & microwave included. $950 maintenance with taxes, water and cable included. Laundry in basement. Storage available with waiting list. Dentist, medical office and hair dresser located on property. $220/month indoor parking. Concierge for packages. Close to buses & shops and the Close to Fordham Metro North station. Ideal for someone looking to keep the Manhattan like apartment for the right price! Contact showing times to schedule. Close to shops, buses & community halls. 24/7 uniformed security patrol of co-op grounds. Private attended parking is available 24/7. Near the 1, 2, 3, 12, 32 Buses and the 4, B, D train and Metro North lines. Minutes away from Broadway shopping center, Monroe College, Bronx Community College, Fordham University and Lehman College. Only 10% down-payment and 700 credit score for the board.***ACCEPTED OFFER!!!****

20. 2017-06-14
    historical Pending 1002-char remark

    Show marketing remark (1002 chars)

    Lovely renovated 2 bedroom 1 bathroom with Manhattan view. The Kitchen has marble counters top with renovated with stainless Dishwasher & microwave included. $950 maintenance with taxes, water and cable included. Laundry in basement. Storage available with waiting list. Dentist, medical office and hair dresser located on property. $220/month indoor parking. Concierge for packages. Close to buses & shops and the Close to Fordham Metro North station. Ideal for someone looking to keep the Manhattan like apartment for the right price! Contact showing times to schedule. Close to shops, buses & community halls. 24/7 uniformed security patrol of co-op grounds. Private attended parking is available 24/7. Near the 1, 2, 3, 12, 32 Buses and the 4, B, D train and Metro North lines. Minutes away from Broadway shopping center, Monroe College, Bronx Community College, Fordham University and Lehman College. Only 10% down-payment and 700 credit score for the board.***ACCEPTED OFFER!!!****

21. 2017-04-13
    historical

    Show marketing remark (1002 chars)

    Lovely renovated 2 bedroom 1 bathroom with Manhattan view. The Kitchen has marble counters top with renovated with stainless Dishwasher & microwave included. $950 maintenance with taxes, water and cable included. Laundry in basement. Storage available with waiting list. Dentist, medical office and hair dresser located on property. $220/month indoor parking. Concierge for packages. Close to buses & shops and the Close to Fordham Metro North station. Ideal for someone looking to keep the Manhattan like apartment for the right price! Contact showing times to schedule. Close to shops, buses & community halls. 24/7 uniformed security patrol of co-op grounds. Private attended parking is available 24/7. Near the 1, 2, 3, 12, 32 Buses and the 4, B, D train and Metro North lines. Minutes away from Broadway shopping center, Monroe College, Bronx Community College, Fordham University and Lehman College. Only 10% down-payment and 700 credit score for the board.***ACCEPTED OFFER!!!****

22. 2017-04-13
    listed $175,000 Active 1002-char remark

    Show marketing remark (1002 chars)

    Lovely renovated 2 bedroom 1 bathroom with Manhattan view. The Kitchen has marble counters top with renovated with stainless Dishwasher & microwave included. $950 maintenance with taxes, water and cable included. Laundry in basement. Storage available with waiting list. Dentist, medical office and hair dresser located on property. $220/month indoor parking. Concierge for packages. Close to buses & shops and the Close to Fordham Metro North station. Ideal for someone looking to keep the Manhattan like apartment for the right price! Contact showing times to schedule. Close to shops, buses & community halls. 24/7 uniformed security patrol of co-op grounds. Private attended parking is available 24/7. Near the 1, 2, 3, 12, 32 Buses and the 4, B, D train and Metro North lines. Minutes away from Broadway shopping center, Monroe College, Bronx Community College, Fordham University and Lehman College. Only 10% down-payment and 700 credit score for the board.***ACCEPTED OFFER!!!****

23. 2017-02-09
    listed $225,000 Active
24. 2008-12-31
    historical
25. 2008-09-05
    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: $48,267
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,861
• − Management: −$3,861
• − Depreciation: −$7,709
• Taxable income: $12,691
• Est. tax owed @ 24.0%: −$3,046
• After-tax cash flow: $13,109/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

+8.9% since first listed

13 events — show timeline

• 2026-05-09 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $274,900 OneKey® MLS as Distributed by MLS Grid
• 2025-03-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-11-15 Listed $280,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-27 Sold (MLS) $195,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-14 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-04-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-04-13 Listed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2017-02-09 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2008-12-31 Delisted — HGMLS
• 2008-09-05 Listed — HGMLS