445 Gramatan Ave Unit GD1 · Mount Vernon, NY 10552

$224,999

2 bd · 1.0 ba · 900 sqft · Condo · 68 Days on market

Built 1941

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Why this score? — see what drove the C+ 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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Rent growth +4.3/5.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Fleetwood Gem! A great, very affordable, Two Bedroom, One Bath recently updated Kitchen, like new dishwasher...lots of closet space and plenty of storage. Apartment also has lots of sunlight from plenty of windows all over...please come and have a look.. it is a really nice space and ready for your personal touch! Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Parking
• Built 1941
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $211k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.3% in Mount Vernon — 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 71/100 on livability (#397 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A, employment B; Watch: crime D-, cost of living F.
• Mount Vernon School District (suburban): math 35% / reading 50% proficiency, ranked #485 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Graham School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 425 students, 74% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 125 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $148k; list at $225k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $211,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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. Crime grade is D 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: 1.21% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.20×
• Total profit: $12,474
• Equity at exit: $33,548

10-year hold

• IRR: 17.8%
• Equity multiple: 2.75×
• Total profit: $110,379
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10552

• Rents YoY: 7.0%
• Active inventory: 125
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,712 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $588

Break-even live

Break-even rent $1,968

Max offer price $224,999

Occupancy floor 73%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$2,675	$3.69	21d	2	0.15mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	24d	1	0.25mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$5,080	$5.01	24d	15	0.29mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$3,199	$3.35	1d	16	0.29mi
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	24d	1	0.32mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	24d	1	0.34mi
173 Crary Ave Mount Vernon, NY	3.0	2.0	1100	$3,100	$2.82	24d	1	0.34mi
12 Putnam St Mount Vernon, NY	2.0	1.0	950	$2,600	$2.74	24d	1	0.37mi
230 N 7th Ave Unit 2 Mt Vernon, NY	1.0	1.0	950	$2,300	$2.42	10d	1	0.42mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	20d	1	0.49mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	18d	1	0.58mi
671 Bronx River Rd Unit 3A Yonkers, NY	2.0	1.5	950	$3,000	$3.16	24d	1	0.59mi
200 Crescent Pl Unit 2nd fl Yonkers, NY	1.0	1.0	800	$2,300	$2.88	16d	1	0.61mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	24d	1	0.65mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	24d	1	0.78mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	18d	1	0.79mi
32 N Bond St Mount Vernon, NY	1.0	1.0	850	$1,900	$2.24	7d	1	0.81mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	0.85mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	24d	1	0.85mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	24d	1	0.86mi
86 Edgewood Ave Unit 2W Yonkers, NY	2.0	1.0	1000	$2,699	$2.70	43d	1	0.88mi
86 Edgewood Ave Apt 2E Yonkers, NY	2.0	1.0	1000	$2,599	$2.60	18d	1	0.88mi
20 Overhill Pl Unit 3 Yonkers, NY	2.0	1.0	800	$3,000	$3.75	43d	1	1.04mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.04mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	17d	1	1.04mi
495 Kimball Ave Unit First Floor Yonkers, NY	2.0	1.0	1100	$3,000	$2.73	43d	1	1.06mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	10d	1	1.08mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	24d	1	1.12mi
7 Monroe St Unit 3A Mt Vernon, NY	2.0	1.0	600	$2,200	$3.67	18d	1	1.13mi
119 S 13th Ave Mount Vernon, NY	2.0	1.0	800	$2,997	$3.75	13d	1	1.15mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	24d	1	1.15mi
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	7d	1	1.16mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	24d	1	1.17mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	43d	1	1.20mi
142 Trenchard St Unit 2E Yonkers, NY	1.0	1.0	900	$2,250	$2.50	10d	1	1.24mi
255 Bronx River Rd Unit 4R Yonkers, NY	1.0	1.0	800	$2,250	$2.81	24d	1	1.34mi
429 S 3rd Ave Mount Vernon, NY	1.0	1.0	600	$2,300	$3.83	3d	1	1.45mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	24d	1	1.46mi
216 1st St Unit 1 Yonkers, NY	1.0	1.0	600	$2,000	$3.33	43d	1	1.49mi

HOA detail condo

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

Listing history 22 events

1. 2026-03-23
   status Pending
2. 2026-02-20
   price $224,999
3. 2026-01-15
   listed $229,999 Active
4. 2026-01-13
   historical $229,999
5. 2017-07-13
   soldstatus $148,000 Sold 373-char remark

   Show marketing remark (373 chars)

   A Fleetwood Gem! A great, very affordable, Two Bedroom, One Bath recently updated Kitchen, like new dishwasher...lots of closet space and plenty of storage. Apartment also has lots of sunlight from plenty of windows all over...please come and have a look.. it is a really nice space and ready for your personal touch! Additional Information: HeatingFuel:Oil Above Ground,

6. 2017-04-15
   historical Pending 373-char remark

   Show marketing remark (373 chars)

   A Fleetwood Gem! A great, very affordable, Two Bedroom, One Bath recently updated Kitchen, like new dishwasher...lots of closet space and plenty of storage. Apartment also has lots of sunlight from plenty of windows all over...please come and have a look.. it is a really nice space and ready for your personal touch! Additional Information: HeatingFuel:Oil Above Ground,

7. 2017-02-10
   listed $149,000 Active 373-char remark

   Show marketing remark (373 chars)

   A Fleetwood Gem! A great, very affordable, Two Bedroom, One Bath recently updated Kitchen, like new dishwasher...lots of closet space and plenty of storage. Apartment also has lots of sunlight from plenty of windows all over...please come and have a look.. it is a really nice space and ready for your personal touch! Additional Information: HeatingFuel:Oil Above Ground,

8. 2014-03-15
   price $157,500 507-char remark

   Show marketing remark (507 chars)

   Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

9. 2010-11-18
   soldstatus $157,500 Sold 507-char remark

   Show marketing remark (507 chars)

   Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

10. 2010-11-17
    historical 507-char remark

    Show marketing remark (507 chars)

    Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

11. 2010-04-10
    historical Pending 507-char remark

    Show marketing remark (507 chars)

    Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

12. 2010-04-10
    price $164,900 507-char remark

    Show marketing remark (507 chars)

    Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

13. 2010-03-06
    listed $164,900 Active 507-char remark

    Show marketing remark (507 chars)

    Wonderful home in picturesque setting just steps from much sought after Fleetwood. Shops, gourmet restaurants, parks & short walk to Village of Bronxville. Amazing pre-war features, including high ceilings, crown moldings, cedar-lined closets to name just a few. Stroll down to Fleetwood Train station for a short 30 minute jaunt to Grand Central Station and enjoy all the delights NYC has to offer or relax under the trees right at your front door and listen to the birds chirping. Star not incl $126

14. 2009-12-16
    historical
15. 2009-09-16
    price
16. 2009-06-15
    listed
17. 2009-06-05
    historical
18. 2009-04-10
    listed
19. 2005-07-07
    soldstatus $185,000
20. 2005-04-25
    price $187,000
21. 2005-04-25
    historical
22. 2005-03-02
    listed $185,000

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,544
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,603
• − Management: −$2,603
• − Depreciation: −$6,545
• Taxable income: $3,688
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $6,165/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)

• District: Mount Vernon School District
• NCES district ID: 3620100
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 50% ▲ 6.00%
• Median HH income: $50,890
• Composite: 36.59/100
• National rank: #4631
• State rank: #485 of 590 in NY

Livability — Mount Vernon

• Score: 71/100
• State rank: #397
• US rank: #6876

Category grades

Amenities C+ Commute A+ Cost of living F Crime D- Employment B Housing C Health & safety A User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, NY
• County: Westchester County · 709,332 people
• City population: 61,313
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,341
• Household income: $96,717
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 652.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 39% White 31% Hispanic / Latino 17% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Russian 2% Estonian 2% Hispanic 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 7% French/Haitian/Cajun 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -393.94%
• Current HPI: 244.3166
• Rent YoY: ▲ 7.04%
• 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

+21.6% since first listed

22 events — show timeline

• 2026-03-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $224,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-15 Listed $229,999 OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Coming Soon $229,999 OneKey® MLS as Distributed by MLS Grid
• 2017-07-13 Sold (MLS) $148,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-15 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-02-10 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $157,500 HGMLS
• 2010-11-18 Sold (MLS) $157,500 HGMLS
• 2010-11-17 Delisted — HGMLS
• 2010-04-10 Contingent — HGMLS
• 2010-04-10 Price Changed $164,900 HGMLS
• 2010-03-06 Listed $164,900 HGMLS
• 2009-12-16 Delisted — HGMLS
• 2009-09-16 Price Changed — HGMLS
• 2009-06-15 Listed — HGMLS
• 2009-06-05 Delisted — HGMLS
• 2009-04-10 Listed — HGMLS
• 2005-07-07 Sold (MLS) $185,000 HGMLS
• 2005-04-25 Delisted — HGMLS
• 2005-04-25 Price Changed $187,000 HGMLS
• 2005-03-02 Listed $185,000 HGMLS