323 Concord Ave · New York, NY 10454

$874,888

6 bd · 3.0 ba · 2,148 sqft · MultiFamily public records · 69 Days on market

Built 1910 1,600 sqft lot Est $827k · 6% over

---

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 +7.6/10.0
• Appreciation +7.3/10.0
• Schools +5.0/10.0
• ARV discount +4.9/15.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Introducing a distinguished three-family residence offering both refined living and strong financial performance in the rapidly evolving enclave of Mott Haven. Set on a quiet, residential street, this impeccably maintained property delivers an uncommon blend of architectural charm, modern updates, and turnkey investment appeal. The building features three generously scaled, beautifully enhanced units, each boasting upgraded kitchens, contemporary baths and abundant natural light. With all units fully leased to reliable tenants, the property delivers a consistent, market-aligned income stream and an attractive 5% cap rate, making it an exceptional opportunity for investors seeking stability

Key facts

• Fully leased
• Bronx waterfront
• Contemporary baths

Tags

• UPGRADED KITCHENS
• CONTEMPORARY BATHS
• ABUNDANT NATURAL LIGHT
• FULLY LEASED
• HIGH DEMAND NEIGHBORHOOD
• BRONX WATERFRONT

Property features AI

Finance

• Other: Zoning: M1-2; Three-unit multi-family (all units leased); Current rents (reported): Unit 1 $1,818; Unit 2 $1,550; Unit 3 $1,675
• Financial info: Financing considered: cash, bank mortgage, exchange considered; Utility expense listed

Exterior

• Parking: No designated parking
• Utilities: Electric: 110V; Hot water: Gas; Heating fuel: Gas
• Home design: Attached building; Residential property; Three stories (one residential unit per floor); Flat roof; Brick exterior
• Construction: Brick construction; Poured concrete foundation; Building footprint approximately 700 sq ft; Building dimensions approximately 35 x 20
• Exterior features: Front yard; Back yard; Fully fenced lot; Lot dimensions approximately 20 x 80 (irregular lot)

Interior

• Kitchen: Microwave; Refrigerator; Stove
• Bedrooms: Three 2-bedroom units (one on each floor)
• Flooring: Hardwood floors; Tile floors; Other flooring (see remarks)
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Baseboard heating (gas); Window A/C units
• Interior features: Window air conditioning units (5+); Microwave; Refrigerator; Stove; Window treatments; Cellar
• Laundry & utility: Cellar (utility/storage space)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $875k).
• Recommended offer: $822k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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.
• 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 flat; 19 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).

Forward outlook

• In year one you build about $47k of equity ($6k loan paydown + $41k appreciation (4.7% local appreciation)).
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.7% appreciation + 0.6% rent growth), your $245k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($822k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $530k; list at $875k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $822,394 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 1.26% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.87%
• DSCR: 1.75
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $826,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
674 Saint Marys St	0.16mi	5/3.0 (-1)	2,322 (+8%)	3mo	$800,000	$345	72
487 Jackson Ave	0.33mi	5/2.0 (-1)	2,100 (-2%)	7mo	$1,065,000	$507	66
614 Beech Ter	0.22mi	6/3.0	2,280 (+6%)	17mo	$707,000	$310	65
612 Beech Ter	0.23mi	6/3.0	2,280 (+6%)	17mo	$707,000	$310	65
610 Beech Ter	0.23mi	6/3.0	2,280 (+6%)	17mo	$707,000	$310	65
516 E 142nd St E	0.39mi	6/2.0	2,040 (-5%)	12mo	$850,000	$417	59
599 Beech Ter	0.23mi	5/3.0 (-1)	2,340 (+9%)	13mo	$900,000	$385	58
461 E 144th St	0.52mi	6/3.0	2,280 (+6%)	13mo	$965,000	$423	55
542 Fox St	0.56mi	5/3.5 (-1)	2,340 (+9%)	19mo	$835,000	$357	36
678 Union Ave	0.72mi	6/3.0	1,932 (-10%)	19mo	$801,500	$415	34
572 Fox St	0.62mi	5/3.0 (-1)	2,340 (+9%)	22mo	$800,000	$342	33
427 E 143 St Unit AB	0.57mi	5/4.5 (-1)	1,840 (-14%)	10mo	$899,000	$489	31

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

Projected returns pro-forma

4.67% appreciation · 0.61% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.54×
• Total profit: $378,164
• Equity at exit: $478,104

10-year hold

• IRR: 23.7%
• Equity multiple: 4.74×
• Total profit: $915,608
• Equity at exit: $810,880

Cash invested: $244,969 (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 10454

• Home prices YoY: 2.0%
• Rents YoY: 0.6%
• Active inventory: 19
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $11,051 medium
• Mortgage (P&I): −$4,588
• Tax from tax record: −$333 /mo · $3,997/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,321
• Net cashflow: $3,445

Break-even live

Break-even rent $6,691

Max offer price $874,888

Occupancy floor 64%

Sensitivity live

Price	-10% $3,940	-5% $3,692	+0% $3,445	+5% $3,197	+10% $2,949
Rent	-10% $2,572	-5% $3,008	+0% $3,445	+5% $3,881	+10% $4,318
Rate	-1.0pp $3,885	-0.5pp $3,667	base $3,445	+0.5pp $3,218	+1.0pp $2,987

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$11,052
Total (3 units)			$11,051

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: $218,722
• Closing costs: $26,247
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $874,888 Active 69 DOM
2. 2026-06-18
   days on market $874,888 Active 66 DOM
3. 2026-06-17
   days on market $874,888 Active 65 DOM
4. 2026-06-15
   days on market $874,888 Active 63 DOM
5. 2026-06-13
   days on market $874,888 Active 61 DOM
6. 2026-06-10
   days on market $874,888 Active 57 DOM
7. 2026-06-08
   days on market $874,888 Active 56 DOM
8. 2026-06-08
   days on market $874,888 Active 55 DOM
9. 2026-06-04
   days on market $874,888 Active 52 DOM
10. 2026-06-03
    days on market $874,888 Active 51 DOM
11. 2026-06-01
    days on market $874,888 Active 49 DOM
12. 2026-05-31
    days on market $874,888 Active 48 DOM
13. 2026-04-13
    listed $874,888 Active
14. 2026-01-20
    price $874,999
15. 2017-08-14
    soldstatus $530,000
16. 2015-01-06
    historical
17. 2014-09-29
    listed $480,000

ⓘ 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: $3,997 · $333/mo
• Projected year-2 tax: $9,391 · $783/mo
• Expected delta: +$5,395/yr (+$450/mo · 135.0%)

ⓘ 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 7/10 Severe 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: $132,612
• − Mortgage interest: −$49,007
• − Property taxes: −$3,997
• − Insurance: −$4,374
• − Repairs & maintenance: −$10,609
• − Management: −$10,609
• − Depreciation: −$25,451
• Taxable income: $28,565
• Est. tax owed @ 24.0%: −$6,855
• After-tax cash flow: $34,481/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): 39,570
• Household income: $24,086
• Rent vs Own: 93.2% rent · 6.8% own
• Severe rent burden: 5002.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Black 23% Two or more races 14% White 3% Native American 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 29% Dominican 17%
• Foreign-born: 29% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 58% French/Haitian/Cajun 2%

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: ▲ 4.67%
• Current HPI: 238.974
• Rent YoY: ▲ 0.61%
• 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

+82.3% since first listed

5 events — show timeline

• 2026-04-13 Listed $874,888 BNYMLS
• 2026-01-20 Price Changed $874,999 BNYMLS
• 2017-08-14 Sold (Public Records) $530,000 Public Records
• 2015-01-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-09-29 Listed $480,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $3,997 · +0.8% YoY. Source: county tax records.