94 Elliott Ave · Yonkers, NY 10705

$1,230,000

8 bd · 4.0 ba · 5,068 sqft · MultiFamily public records · 87 Days on market

Built 1974 1,742 sqft lot $243/sqft · 45% below area Est $1504k · 18% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.8/5.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime investment opportunity in Yonkers featuring a well-maintained four-family property with strong income potential and long-term upside. The building consists of four residential units, all currently occupied on a month-to-month basis, offering flexibility for future rent increases or repositioning. Tenants are responsible for all utilities except heat, with annual heating costs approximately $12,000, helping investors plan operating expenses accordingly. Units offer desirable interior features including hardwood flooring, granite countertops, dishwashers, windowed bathrooms, dedicated dining areas, basement laundry access, and shared backyard space. Conveniently located near major roadways and public transportation, the property provides easy access to New York City and surrounding areas. It is situated close to shopping centers, restaurants, schools, and everyday essentials, as well as nearby recreational options such as Tibbetts Brook Park. This location offers a strong rental market with consistent demand, making it an excellent opportunity for investors seeking a stable, income-producing asset with future upside potential.

Key facts

• Four family property
• Hardwood flooring
• Residential units

Tags

• FOUR FAMILY PROPERTY
• STRONG INCOME POTENTIAL
• RESIDENTIAL UNITS
• HARDWOOD FLOORING
• GRANITE COUNTERTOPS
• DISHWASHERS

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.23M.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $648/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.23M).
• Recommended offer: $1.16M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.4% in Yonkers — 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 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.0%/yr); 87 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $12,508/mo this rent would consume 221% of the median local household income ($68k/yr) (locally 2783% 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 $9k of loan paydown is wiped out by about $37k 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 + 8.0% rent growth), your $344k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $800k; list at $1.23M implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; 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 $1,156,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.02% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

• ARV (median comp): $1,504,381
• List price: $1,230,000
• Delta: -18.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
161 Park Hill Ave	0.41mi	7/3.0 (-1)	5,027 (-1%)	18mo	$935,000	$186	55
51 Courter Ave	0.74mi	8/6.0	4,653 (-8%)	1mo	$885,000	$190	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $31,267
• Equity at exit: $183,397

10-year hold

• IRR: 15.8%
• Equity multiple: 2.56×
• Total profit: $538,336
• Equity at exit: $106,348

Cash invested: $344,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10705

• Rents YoY: 9.0%
• Active inventory: 87
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $12,508 high
• Mortgage (P&I): −$6,450
• Tax from tax record: −$272 /mo · $3,262/yr
• Insurance: −$512
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,627
• Net cashflow: $2,591

Break-even live

Break-even rent $9,228

Max offer price $1,230,000

Occupancy floor 74%

Sensitivity live

Price	-10% $3,287	-5% $2,939	+0% $2,591	+5% $2,243	+10% $1,895
Rent	-10% $1,603	-5% $2,097	+0% $2,591	+5% $3,085	+10% $3,579
Rate	-1.0pp $3,211	-0.5pp $2,904	base $2,591	+0.5pp $2,272	+1.0pp $1,948

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$12,508
Total (4 units)			$12,508

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: $307,500
• Closing costs: $36,900
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $1,230,000 Active 87 DOM
2. 2026-06-18
   days on market $1,230,000 Active 84 DOM
3. 2026-06-17
   days on market $1,230,000 Active 83 DOM
4. 2026-06-16
   days on market $1,230,000 Active 82 DOM
5. 2026-06-15
   days on market $1,230,000 Active 81 DOM
6. 2026-06-13
   days on market $1,230,000 Active 79 DOM
7. 2026-06-09
   days on market $1,230,000 Active 75 DOM
8. 2026-06-08
   days on market $1,230,000 Active 74 DOM
9. 2026-06-07
   days on market $1,230,000 Active 73 DOM
10. 2026-06-04
    days on market $1,230,000 Active 70 DOM
11. 2026-06-03
    days on market $1,230,000 Active 69 DOM
12. 2026-06-02
    days on market $1,230,000 Active 68 DOM
13. 2026-06-01
    days on market $1,230,000 Active 67 DOM
14. 2026-05-31
    days on market $1,230,000 Active 66 DOM
15. 2026-03-26
    listed $1,230,000 Active 1149-char remark

    Show marketing remark (1149 chars)

    Prime investment opportunity in Yonkers featuring a well-maintained four-family property with strong income potential and long-term upside. The building consists of four residential units, all currently occupied on a month-to-month basis, offering flexibility for future rent increases or repositioning. Tenants are responsible for all utilities except heat, with annual heating costs approximately $12,000, helping investors plan operating expenses accordingly. Units offer desirable interior features including hardwood flooring, granite countertops, dishwashers, windowed bathrooms, dedicated dining areas, basement laundry access, and shared backyard space. Conveniently located near major roadways and public transportation, the property provides easy access to New York City and surrounding areas. It is situated close to shopping centers, restaurants, schools, and everyday essentials, as well as nearby recreational options such as Tibbetts Brook Park. This location offers a strong rental market with consistent demand, making it an excellent opportunity for investors seeking a stable, income-producing asset with future upside potential.

16. 2022-12-23
    soldstatus $800,000
17. 2017-08-30
    soldstatus $500,000 Sold 153-char remark

    Show marketing remark (153 chars)

    Great Investment!!! Four family brick townhouse, with 2 - one bedroom,1- three bedrooms, and 1- four bedroom apartment. Low rents with room for increase.

18. 2017-07-21
    historical Pending 153-char remark

    Show marketing remark (153 chars)

    Great Investment!!! Four family brick townhouse, with 2 - one bedroom,1- three bedrooms, and 1- four bedroom apartment. Low rents with room for increase.

19. 2017-05-30
    listed $539,000 Active 153-char remark

    Show marketing remark (153 chars)

    Great Investment!!! Four family brick townhouse, with 2 - one bedroom,1- three bedrooms, and 1- four bedroom apartment. Low rents with room for increase.

20. 2014-01-27
    price $529,000
21. 2007-11-02
    historical
22. 2007-05-02
    listed
23. 2006-03-03
    soldstatus $550,000
24. 2005-09-29
    soldstatus $550,000
25. 2005-07-08
    historical
26. 2005-06-20
    listed $550,000
27. 2005-05-14
    historical
28. 2004-12-14
    listed
29. 2000-06-25
    historical
30. 1999-05-17
    listed
31. 1990-01-29
    soldstatus $170,000
32. 1988-12-29
    soldstatus $170,000

ⓘ 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: $3,262 · $272/mo
• Projected year-2 tax: $12,025 · $1,002/mo
• Expected delta: +$8,762/yr (+$730/mo · 268.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% 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: $150,096
• − Mortgage interest: −$68,899
• − Property taxes: −$3,262
• − Insurance: −$6,816
• − Repairs & maintenance: −$12,008
• − Management: −$12,008
• − Depreciation: −$35,782
• Taxable income: $11,321
• Est. tax owed @ 24.0%: −$2,717
• After-tax cash flow: $28,377/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: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,887
• Household income: $67,918
• Rent vs Own: 63.2% rent · 36.8% own
• Severe rent burden: 2783.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 16% Black 12% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 9% Dominican 27%
• Common ancestry: Scotch-Irish 1% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica, South Korea
• Languages at home: 39% English-only · Spanish 51% Other Indo-European 3% Other Asian/Pacific 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: ▼ -368.22%
• Current HPI: 314.1777
• Rent YoY: ▲ 9.00%
• 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

+623.5% since first listed

18 events — show timeline

• 2026-03-26 Listed $1,230,000 OneKey® MLS as Distributed by MLS Grid
• 2022-12-23 Sold (Public Records) $800,000 Public Records
• 2017-08-30 Sold (MLS) $500,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-21 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-05-30 Listed $539,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-27 Price Changed $529,000 HGMLS
• 2007-11-02 Delisted — HGMLS
• 2007-05-02 Listed — HGMLS
• 2006-03-03 Sold (Public Records) $550,000 Public Records
• 2005-09-29 Sold (MLS) $550,000 HGMLS
• 2005-07-08 Delisted — HGMLS
• 2005-06-20 Listed $550,000 HGMLS
• 2005-05-14 Delisted — HGMLS
• 2004-12-14 Listed — HGMLS
• 2000-06-25 Delisted — HGMLS
• 1999-05-17 Listed — HGMLS
• 1990-01-29 Sold (Public Records) $170,000 Public Records
• 1988-12-29 Sold (Public Records) $170,000 Public Records

Property tax history

-21.5%/yr

Latest (2025): $3,262 · +0.5% YoY. Source: county tax records.