This is a single family house just north of Fordham Road. While this neighborhood isn't ideal, it's hard to find a single family home for less. It's sad to say, and maybe prices still have a lot more to fall to correct themselves, but $360,000 is a New York City bargain in terms of houses.
The unit itself looks nice enough. It has a decent backyard (that might need a little work), dark hardwood floors, and a reasonable kitchen (read: doesn't have to be gutted).
Just a few blocks north of Fordham Road, where this house is, can still be rough around the edges, but it's not the Wild West. Fordham Road itself serves as an amenity with tons of shopping. You'd be near Fordham University. You'd have a 15 minute walk to Arthur Avenue; a 20 minute walk to the Bronx Zoo; and a 15 minute walk to the Botanical Garden. Not to be underestimated, you'd also be super closer to the Bronx's biggest, baddest, and most user-friendly library.
Transportation is good with the B/D at Fordham Road the the Concourse. There are also a multitude of buses on Fordham Road in addition to the Metro North at Fordham Road and Webster Avenue.