124 Richbell Rd Unit A4 · Mamaroneck, NY 10543

$180,000

2 bd · 1.0 ba · 850 sqft · Condo · 72 Days on market

Built 1948

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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 +7.1/10.0
• Rent growth +4.2/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Two Bedroom On Ground Level (Corner Unit/ B R I G H T) Easy To Show - Owner Home Or Key Available. Motivated Seller - Close To All! Special Assessment Paid Already. Great Schools!

Key facts

• Built 1948
• Listed 72 days

Tags

• HARBOR ISLAND PARK/BEACH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 3.1% in Mamaroneck — 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 69/100 on livability (#491 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities C-, commute F, cost of living F.
• Mamaroneck Union Free School District (suburban): math 74% / reading 81% proficiency, ranked #47 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Central School (math 78% / reading 78%, grade A, #239 of 2,108 statewide, top 11%, 513 students, 14% FRL); Hommocks School (math 65% / reading 79%, grade A, #76 of 729 statewide, top 11%, 1,258 students, 20% FRL); Mamaroneck High School (math 95% / reading 91%, grade A+, #147 of 1,100 statewide, top 14%, 1,660 students, 23% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 30% of the median local income ($126k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 6.7% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $88k; list at $180k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1948 — 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. 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: 1.78% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.48%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 2.28×
• Total profit: $64,752
• Equity at exit: $26,839

10-year hold

• IRR: 38.7%
• Equity multiple: 5.29×
• Total profit: $216,203
• Equity at exit: $15,563

Cash invested: $50,400 (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 10543

• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,195 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $1,280

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 55%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Larchmont Acres Unit 4C Larchmont, NY	2.0	1.0	1074	$2,985	$2.78	24d	1	0.01mi
314 Larchmont Acres Unit 4C Mamaroneck, NY	2.0	1.0	1074	$2,985	$2.78	24d	1	0.04mi
505 Rockland Ave Unit 2 Mamaroneck, NY	1.0	1.0	700	$2,800	$4.00	43d	1	0.39mi
1833 Palmer Ave Unit 3K Larchmont, NY	2.0	1.0	875	$2,700	$3.09	43d	1	0.64mi
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	43d	1	0.66mi
300 Livingston Ave Unit 3E Mamaroneck, NY	1.0	1.0	946	$3,600	$3.81	43d	1	0.77mi
338 Palmer Ave Unit B Mamaroneck, NY	2.0	1.0	900	$3,700	$4.11	24d	1	0.80mi
225 Stanley Ave #313 Mamaroneck, NY	1.0	1.0	825	$3,500	$4.24	24d	1	0.88mi
172 E Prospect Ave Unit 304 Mamaroneck, NY	1.0	2.0	925	$3,620	$3.91	43d	1	1.03mi
5 Lester Pl Unit 1 Larchmont, NY	2.0	1.0	850	$3,200	$3.76	24d	1	1.06mi
18 Grand St Mamaroneck, NY	1.0	1.0	790	$3,025	$3.83	20d	1	1.11mi
210 Union Ave Mamaroneck, NY	3.0	1.5	1000	$3,500	$3.50	24d	1	1.11mi
746 Mamaroneck Ave Mamaroneck, NY	1.0–2.0	1.0–2.0	974	$6,015	$6.17	1d	16	1.16mi
416 Tompkins Ave Unit SECOND FLOOR Mamaroneck, NY	2.0	1.0	1100	$3,800	$3.45	43d	1	1.17mi
538 Jefferson Ave Mamaroneck, NY	1.0	1.0	600	$2,100	$3.50	43d	1	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• ⚠ Special-assessment mentions:

  …Ground Level (Corner Unit/ B R I G H T) Easy To Show - Owner Home Or Key Available. Motivated Seller - Close To All! Special Assessment Paid Already. Great Schools!

Listing history 6 events

1. 2024-07-25
   status Pending
2. 2024-07-12
   price $180,000
3. 2024-05-14
   listed $179,000 Active
4. 2001-09-15
   soldstatus $88,000 190-char remark

   Show marketing remark (190 chars)

   Affordable Two Bedroom On Ground Level (Corner Unit/ B R I G H T) Easy To Show - Owner Home Or Key Available. Motivated Seller - Close To All! Special Assessment Paid Already. Great Schools!

5. 2001-09-15
   price $92,500 190-char remark

   Show marketing remark (190 chars)

   Affordable Two Bedroom On Ground Level (Corner Unit/ B R I G H T) Easy To Show - Owner Home Or Key Available. Motivated Seller - Close To All! Special Assessment Paid Already. Great Schools!

6. 2000-09-17
   listed $88,000 190-char remark

   Show marketing remark (190 chars)

   Affordable Two Bedroom On Ground Level (Corner Unit/ B R I G H T) Easy To Show - Owner Home Or Key Available. Motivated Seller - Close To All! Special Assessment Paid Already. Great Schools!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $38,341
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$3,067
• − Management: −$3,067
• − Depreciation: −$5,236
• Taxable income: $13,287
• Est. tax owed @ 24.0%: −$3,189
• After-tax cash flow: $12,173/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: Mamaroneck Union Free School District
• NCES district ID: 3618240
• Math proficiency: 74% ▼ -4.00%
• Reading proficiency: 81% ▲ 9.00%
• Median HH income: $111,011
• Composite: 71.4/100
• National rank: #228
• State rank: #47 of 590 in NY

Livability — Mamaroneck

• Score: 69/100
• State rank: #491
• US rank: #8656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Westchester County · 709,332 people
• City population: 20,989
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,989
• Household income: $126,417
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 1152.0

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 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 27% Two or more races 11% Asian 5% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 2%
• Common ancestry: Russian 3% Romanian 2% Scotch-Irish 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 23% Other Indo-European 8% 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: ▼ -220.53%
• Current HPI: 268.4687
• Rent YoY: ▲ 6.70%
• 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

+104.5% since first listed

6 events — show timeline

• 2024-07-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-07-12 Price Changed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-14 Listed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2001-09-15 Price Changed $92,500 HGMLS
• 2001-09-15 Sold (MLS) $88,000 HGMLS
• 2000-09-17 Listed $88,000 HGMLS