3520 Tryon Ave #405 · New York, NY 10467

$145,000

1 bd · 1.0 ba · 800 sqft · Condo · 215 Days on market

Built 1962

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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
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unit is located in the Norwood section of the Bronx near shops, transportation and health care. One bedroom, dining foyer, kitchen, living room and bathroom. Pet friendly (restricted weight). Gas, heat and hot water are included in the maintenance.

Key facts

• King-size bedroom
• Elevator
• Windowed kitchen

Tags

• ELEVATOR
• WINDOWED KITCHEN
• AMPLE CABINET STORAGE
• FULL-SIZE APPLIANCES
• CLEAN FUNCTIONAL BATHROOM
• KING-SIZE BEDROOM

Property features AI

Finance

• HOA & community: Cooperative ownership (stock cooperative) — building/community fees or rules apply

Exterior

• Parking: Assigned parking (waitlist may apply); Garage available
• Utilities: Public sewer; Electricity available; Natural gas available; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Other heating; Wall/window AC unit(s)
• Interior features: Other interior features; Pets allowed - contact listing for policy
• Laundry & utility: See remarks for utility details

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 $722 ($9k/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 12.3% 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 (+9.2%/yr); 129 active listings in the ZIP; 6,929 units permitted in Bronx County in 2024 (6,829 in 5+ unit buildings).
• At $2,182/mo this rent would consume 53% of the median local household income ($49k/yr) (locally 10930% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bronx County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $145k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 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 1962 — 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: 1.50% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.33%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 1.84×
• Total profit: $34,022
• Equity at exit: $21,620

10-year hold

• IRR: 31.0%
• Equity multiple: 4.48×
• Total profit: $141,414
• Equity at exit: $12,537

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 10467

• Home prices YoY: -32.8%
• Rents YoY: 9.2%
• Active inventory: 129
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,182 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $722

Break-even live

Break-even rent $1,268

Max offer price $145,000

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

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $145,000 Active 215 DOM
2. 2026-06-17
   days on market $145,000 Active 214 DOM
3. 2026-06-15
   days on market $145,000 Active 212 DOM
4. 2026-06-13
   days on market $145,000 Active 210 DOM
5. 2026-06-10
   days on market $145,000 Active 206 DOM
6. 2026-06-08
   days on market $145,000 Active 205 DOM
7. 2026-06-04
   days on market $145,000 Active 201 DOM
8. 2026-06-03
   days on market $145,000 Active 200 DOM
9. 2026-06-01
   days on market $145,000 Active 198 DOM
10. 2026-05-31
    days on market $145,000 Active 197 DOM
11. 2026-05-07
    price $145,000
12. 2025-12-23
    price $160,000
13. 2025-11-15
    listed $175,000 Active
14. 2014-04-29
    soldstatus $39,900 253-char remark

    Show marketing remark (253 chars)

    This unit is located in the Norwood section of the Bronx near shops, transportation and health care. One bedroom, dining foyer, kitchen, living room and bathroom. Pet friendly (restricted weight). Gas, heat and hot water are included in the maintenance.

15. 2013-05-17
    listed $39,900 253-char remark

    Show marketing remark (253 chars)

    This unit is located in the Norwood section of the Bronx near shops, transportation and health care. One bedroom, dining foyer, kitchen, living room and bathroom. Pet friendly (restricted weight). Gas, heat and hot water are included in the maintenance.

ⓘ 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 · 15 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: $26,181
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,095
• − Management: −$2,095
• − Depreciation: −$4,218
• Taxable income: $6,752
• Est. tax owed @ 24.0%: −$1,620
• After-tax cash flow: $7,038/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): 96,421
• Household income: $49,330
• Rent vs Own: 85.8% rent · 14.2% own
• Severe rent burden: 10930.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 53% Black 28% Two or more races 11% White 9% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 16% Dominican 22%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 41% English-only · Spanish 45% Other Indo-European 7% French/Haitian/Cajun 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: ▼ -112.76%
• Current HPI: 231.537
• Rent YoY: ▲ 9.23%
• 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

+263.4% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $145,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-23 Price Changed $160,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-15 Listed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-29 Sold (MLS) $39,900 OneKey® MLS as Distributed by MLS Grid
• 2013-05-17 Listed $39,900 OneKey® MLS as Distributed by MLS Grid