Score
0Bronx, NY
1189 Morris Park Ave #1
699K
3 beds
2 baths
1,300 sqft
3 bd • 2 ba • 1,300 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$699,000
Price/Sq.Ft
$538
Year Built
1948
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property boasts several attractive features:
1. Location: Situated in the sought-after Morris Park/Indian Village section of the Bronx, within walking distance to Albert Einstein hospital, Montefiore, transportation, and shops. This prime location enhances its value and appeal.
2. Recent upgrades: The boiler was replaced a few years ago, and the roof is only a couple of years old. These improvements reduce immediate maintenance concerns and add value.
3. Spacious layout: With 1,300 sq ft, the property offers a generous living space, including a big living room, dining room, and kitchen on the first floor, and three bedrooms on the second floor.
4. Price per square foot: At $537.69/sq ft, it's competitively priced compared to the Bronx average of $551/sq ft (as of 2023).
5. School proximity: PS 108 Philip J Abinanti, rated 8/10, is just 0.3 miles away, making it an attractive option for families with school-age children.
6. Features: Hardwood floors, ample closet space, and a full unfinished basement provide additional value and potential for customization.
7. Property type: As a single-family residence, it offers more privacy and autonomy compared to multi-family dwellings common in the area.
8. Rental potential: With average 3-bedroom rental rates in the area at $3,320/month, there's potential for rental income if the owner chooses to lease the property.
The Bad
1. Age of the property: Built in 1974, it's an older home that may require more maintenance and updates compared to newer constructions.
2. Limited bathrooms: With only one full bath for a 3-bedroom home, it may feel inadequate for larger families or modern living standards.
3. Days on market: At 134 days, it's been on the market longer than average, which could indicate overpricing or hidden issues.
4. Price history: The property has seen a price reduction from $710,000 to $699,000, suggesting initial overpricing or lack of buyer interest.
5. Unfinished basement: While it offers potential, finishing the basement would require additional investment.
6. School options: While the nearby elementary school is well-rated, the closest high school (Bronx High School for the Visual Arts) has a low rating of 3/10.
7. Property taxes: Bronx property taxes can be high, and the listing doesn't provide specific tax information, which is a concern for budget-conscious buyers.
8. Semi-attached home: As a semi-attached property, noise from neighbors could be an issue compared to fully detached homes.
The Ugly
1. Potential structural issues: Given the age of the property (75 years old), there might be hidden structural problems not immediately visible, such as outdated electrical systems, plumbing issues, or foundation concerns.
2. High insurance costs: The estimated insurance of $2,516.40/year is relatively high, possibly due to the property's age or location-specific risks.
3. Unfinished basement risks: The unfinished basement could be prone to moisture issues, mold, or flooding, especially considering the property's age.
4. Limited parking: The images show a single-car driveway, which may be inadequate for a 3-bedroom home, especially in an area where street parking can be challenging.
5. Potential zoning restrictions: The listing doesn't mention zoning details, which could limit future expansion or renovation plans.
6. Neighborhood transition: Morris Park is undergoing gentrification, which could lead to rising property taxes and changing neighborhood dynamics.
7. Environmental concerns: Given the Bronx's industrial history, there might be soil contamination or air quality issues not immediately apparent.
8. Market volatility: The Bronx real estate market can be volatile, and this property's price history suggests potential difficulty in value appreciation.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. First-time homebuyers: The price point and single-family structure make it attractive for those entering the market.
2. Medical professionals: Its proximity to Albert Einstein hospital and Montefiore makes it ideal for healthcare workers.
3. Small families: The 3-bedroom layout caters well to small families, especially those with school-age children, given the nearby well-rated elementary school.
4. Investors: With potential rental income of $3,320/month for 3-bedroom properties in the area, it could be attractive for landlords.
5. DIY enthusiasts: The unfinished basement and potential for updates provide opportunities for those who enjoy home improvement projects.
6. Urban dwellers: Those who appreciate the convenience of city living with walkable access to amenities will find the location appealing.
7. Commuters: The property's proximity to public transportation makes it suitable for those working in other parts of NYC.
Not For
This property is not ideal for:
1. Large families: The single bathroom and 1,300 sq ft may be too constraining for bigger households.
2. Luxury buyers: Those seeking high-end finishes or modern amenities may find this property lacking.
3. Car enthusiasts: The limited parking (single-car driveway) makes it impractical for multi-car households.
4. Those seeking turnkey properties: The age of the home and potential need for updates may deter buyers looking for move-in ready homes.
5. Investors seeking immediate high returns: The property's price point and potential renovation needs may limit short-term profitability.
6. Buyers with limited renovation budgets: The age of the property suggests potential for costly repairs or updates in the near future.
7. Those sensitive to noise: As a semi-attached home in an urban area, it may not suit buyers seeking a quiet, secluded environment.
8. Buyers with mobility issues: The multi-story layout without mention of accessibility features may be challenging for those with physical limitations.
Demographics
Area Median Income
$61,087
Property History
Price History
Ownership Timeline
$0Cash Purchase
Apr 11, 2024Heidi Pasquale, John PasqualeGennaro Pasquale Revocable Trust, Gennaro Pasquale, Trustee
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
7.0/10
GoodHigh
2.0/10
Below AverageFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$2,290
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$699,000
Price/sqft
$538
Layout
3 bd•2 ba
Days on market
170 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$726,028
3.7%
Your price is 3.7% below average
Median Price
$745,000
6.2%
Based on 6 recent sales
Price per Sq.Ft
$519
3.6%
Your price is 3.6% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 2035 Radcliff Avenue, Bronx, NY 10462 | $679,000 | 1,500 | 4 | 2 | $45315.8% | 12/5/2024 |
| 1934 Hobart Avenue, Bronx, NY 10461 | $850,000 | 1,400 | 3 | 2 | $60712.9% | 9/27/2024 |
| 1724 Hutchinson River Parkway, Bronx, NY 10461 | $550,000 | 1,400 | 3 | 2 | $39326.9% | 9/26/2024 |
| 1428 Gillespie Avenue, Bronx, NY 10461 | $745,000 | 1,476 | 3 | 2 | $5056.1% | 9/19/2024 |
| 874 Van Nest Avenue, Bronx, NY 10462 | $960,000 | 1,470 | 4 | 2 | $65321.5% | 9/6/2024 |
| 1327 Bradford Avenue, Bronx, NY 10461 | $572,165 | 1,140 | 3 | 1 | $5026.7% | 12/11/2024 |
2035 Radcliff Avenue, Bronx, NY 10462
Price: $679,000
Sq.Ft: 1,500
Beds/Baths: 4/2
$/Sq.Ft:
$45315.8%
Sale Date: 12/5/2024
1934 Hobart Avenue, Bronx, NY 10461
Price: $850,000
Sq.Ft: 1,400
Beds/Baths: 3/2
$/Sq.Ft:
$60712.9%
Sale Date: 9/27/2024
1724 Hutchinson River Parkway, Bronx, NY 10461
Price: $550,000
Sq.Ft: 1,400
Beds/Baths: 3/2
$/Sq.Ft:
$39326.9%
Sale Date: 9/26/2024
1428 Gillespie Avenue, Bronx, NY 10461
Price: $745,000
Sq.Ft: 1,476
Beds/Baths: 3/2
$/Sq.Ft:
$5056.1%
Sale Date: 9/19/2024
874 Van Nest Avenue, Bronx, NY 10462
Price: $960,000
Sq.Ft: 1,470
Beds/Baths: 4/2
$/Sq.Ft:
$65321.5%
Sale Date: 9/6/2024
1327 Bradford Avenue, Bronx, NY 10461
Price: $572,165
Sq.Ft: 1,140
Beds/Baths: 3/1
$/Sq.Ft:
$5026.7%
Sale Date: 12/11/2024
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