128 Terrace Ave · Port Chester, NY 10573

$899,000

6 bd · 3.0 ba · 2,037 sqft · MultiFamily public records · 40 Days on market

Built 1900 4,066 sqft lot $441/sqft · 18% below area Est $1099k · 18% under

---

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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.8/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

Key facts

• 4,066 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Assigned parking (3 total); 1-car garage
• Utilities: Con-Edison electricity; Natural gas connected; Public water; Public sewer; Trash collection (public); Cable connected
• Home design: Triplex
• Construction: Stucco construction; Property described in actual condition
• Exterior features: Stucco exterior; Not waterfront; No additional parcels

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Laminate flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Oil heating; No central air
• Interior features: Eat-in kitchen; Covered porch/patio
• Laundry & utility: Laundry in basement; Basement storage space

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $899k).
• Recommended offer: $872k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.3% in Port Chester — 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 73/100 on livability (#315 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A; Watch: amenities D, cost of living F.
• Port Chester-Rye Union Free School District (suburban): math 44% / reading 49% proficiency, ranked #428 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thomas A Edison School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 377 students, 83% FRL); Port Chester Middle School (math 20% / reading 43%, grade F, #522 of 729 statewide, top 73%, 971 students, 75% FRL); Port Chester Senior High School (math 88% / reading 92%, grade A+, #238 of 1,100 statewide, top 23%, 1,555 students, 73% FRL) — zoned schools average 77% FRL vs 57% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $9,734/mo this rent would consume 111% of the median local household income ($106k/yr) (locally 1362% 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 $6k of loan paydown is wiped out by about $27k 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 30y ago; this cycle's ask has dropped $50k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $550k; list at $899k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $872,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.08% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 7.7

CMA / ARV

• ARV (median comp): $1,098,708
• List price: $899,000
• Delta: -18.18%
• 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
358 Willett Ave	0.23mi	5/3.0 (-1)	2,240 (+10%)	13mo	$1,025,000	$458	57
1 Green Ln	0.67mi	6/2.0	2,178 (+7%)	19mo	$1,010,000	$464	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-104,967
• Equity at exit: $134,044

10-year hold

• IRR: -8.2%
• Equity multiple: 0.56×
• Total profit: $-111,412
• Equity at exit: $77,729

Cash invested: $251,720 (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 10573

• Rents YoY: -1.7%
• Active inventory: 144
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $9,734 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,520 /mo · $18,239/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,044
• Net cashflow: $1,081

Break-even live

Break-even rent $8,366

Max offer price $899,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,590	-5% $1,335	+0% $1,081	+5% $826	+10% $572
Rent	-10% $312	-5% $696	+0% $1,081	+5% $1,465	+10% $1,850
Rate	-1.0pp $1,534	-0.5pp $1,310	base $1,081	+0.5pp $848	+1.0pp $611

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,735
Total (3 units)			$9,734

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 S Water St Greenwich, CT	5.0	4.5	3000	$9,500	$3.17	2d	1	0.89mi

Listing history 35 events

1. 2026-06-09
   status $899,000 Pending 40 DOM
2. 2026-06-08
   days on market $899,000 Active 40 DOM
3. 2026-06-07
   days on market $899,000 Active 39 DOM
4. 2026-06-04
   days on market $899,000 Active 36 DOM
5. 2026-06-03
   days on market $899,000 Active 35 DOM
6. 2026-06-02
   days on market $899,000 Active 34 DOM
7. 2026-06-01
   days on market $899,000 Active 33 DOM
8. 2026-05-31
   days on market $899,000 Active 32 DOM
9. 2026-05-14
   price $899,000 134-char remark
10. 2026-04-29
    listed $949,000 Active 134-char remark
11. 2017-10-03
    soldstatus $550,000
12. 2017-10-01
    soldstatus $550,000 Sold 451-char remark

    Show marketing remark (451 chars)

    Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

13. 2017-05-15
    historical Pending 451-char remark

    Show marketing remark (451 chars)

    Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

14. 2017-04-26
    status Active 451-char remark

    Show marketing remark (451 chars)

    Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

15. 2017-03-07
    historical Pending 451-char remark

    Show marketing remark (451 chars)

    Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

16. 2017-02-07
    listed $599,000 Active 451-char remark

    Show marketing remark (451 chars)

    Investors dream with over 7% CAP. A fully rented 3 family home in excellent condition on quiet street in convenient location. Renovations and updates were done in 2009 including new roof. All apartments have eat-in kitchens. One parking spot for each tenant plus a two car garage for rent or storage. Coin operated laundry in large basement for all tenants use. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 Car Detached,

17. 2014-04-09
    price $299,900

    Show marketing remark (391 chars)

    3 Family Stucco home on quiet street, convenient location. Bank owned property sold 'as is'. Countrywide pre-qual required on all offers. [Re: Pre-Qual - Call office for name/phone of Countrywide Mortg officer assigned to this property. ] Free appraisal & credit report if buyer finances through Countrywide. Please allow 2-3 business days for seller response. Buyer pays transfer tax.

18. 2014-03-15
    price $300,000

    Show marketing remark (391 chars)

    3 Family Stucco home on quiet street, convenient location. Bank owned property sold 'as is'. Countrywide pre-qual required on all offers. [Re: Pre-Qual - Call office for name/phone of Countrywide Mortg officer assigned to this property. ] Free appraisal & credit report if buyer finances through Countrywide. Please allow 2-3 business days for seller response. Buyer pays transfer tax.

19. 2009-04-24
    historical

    Show marketing remark (391 chars)

    3 Family Stucco home on quiet street, convenient location. Bank owned property sold 'as is'. Countrywide pre-qual required on all offers. [Re: Pre-Qual - Call office for name/phone of Countrywide Mortg officer assigned to this property. ] Free appraisal & credit report if buyer finances through Countrywide. Please allow 2-3 business days for seller response. Buyer pays transfer tax.

20. 2009-04-24
    soldstatus $300,000

    Show marketing remark (391 chars)

    3 Family Stucco home on quiet street, convenient location. Bank owned property sold 'as is'. Countrywide pre-qual required on all offers. [Re: Pre-Qual - Call office for name/phone of Countrywide Mortg officer assigned to this property. ] Free appraisal & credit report if buyer finances through Countrywide. Please allow 2-3 business days for seller response. Buyer pays transfer tax.

21. 2008-09-19
    listed $299,900

    Show marketing remark (391 chars)

    3 Family Stucco home on quiet street, convenient location. Bank owned property sold 'as is'. Countrywide pre-qual required on all offers. [Re: Pre-Qual - Call office for name/phone of Countrywide Mortg officer assigned to this property. ] Free appraisal & credit report if buyer finances through Countrywide. Please allow 2-3 business days for seller response. Buyer pays transfer tax.

22. 2006-05-12
    soldstatus $550,000
23. 2005-10-09
    historical
24. 2005-05-09
    listed
25. 2004-09-28
    historical
26. 2004-06-28
    listed
27. 2003-02-05
    soldstatus $450,000
28. 2002-12-11
    price $460,000
29. 2002-12-11
    historical
30. 2002-10-16
    listed $450,000
31. 2000-12-21
    soldstatus $306,000
32. 2000-11-02
    price $369,000
33. 2000-11-02
    historical
34. 2000-05-19
    listed $306,000
35. 1996-03-14
    listed

ⓘ 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: $18,239 · $1,520/mo
• Projected year-2 tax: $18,239 · $1,520/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,808
• − Mortgage interest: −$50,358
• − Property taxes: −$18,239
• − Insurance: −$4,495
• − Repairs & maintenance: −$9,345
• − Management: −$9,345
• − Depreciation: −$26,153
• Taxable loss: −$1,126
• Est. tax savings @ 24.0%: +$270
• After-tax cash flow: $13,241/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: Port Chester-Rye Union Free School District
• NCES district ID: 3623460
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $58,362
• Composite: 40.67/100
• National rank: #3676
• State rank: #428 of 590 in NY

Livability — Port Chester

• Score: 73/100
• State rank: #315
• US rank: #5245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Chester, NY
• County: Westchester County · 709,332 people
• City population: 40,786
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,786
• Household income: $105,686
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1362.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 37% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 41% Other Indo-European 5% Chinese 1%

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: ▼ -389.46%
• Current HPI: 258.9227
• Rent YoY: ▼ -1.70%
• 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

+193.8% since first listed

28 events — show timeline

• 2026-06-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-29 Listed $949,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-03 Sold (Public Records) $550,000 Public Records
• 2017-10-01 Sold (MLS) $550,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-15 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-04-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2017-03-07 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-02-07 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-09 Price Changed $299,900 HGMLS
• 2014-03-15 Price Changed $300,000 HGMLS
• 2009-04-24 Sold (MLS) $300,000 HGMLS
• 2009-04-24 Delisted — HGMLS
• 2008-09-19 Listed $299,900 HGMLS
• 2006-05-12 Sold (Public Records) $550,000 Public Records
• 2005-10-09 Delisted — HGMLS
• 2005-05-09 Listed — HGMLS
• 2004-09-28 Delisted — HGMLS
• 2004-06-28 Listed — HGMLS
• 2003-02-05 Sold (MLS) $450,000 HGMLS
• 2002-12-11 Delisted — HGMLS
• 2002-12-11 Price Changed $460,000 HGMLS
• 2002-10-16 Listed $450,000 HGMLS
• 2000-12-21 Sold (MLS) $306,000 HGMLS
• 2000-11-02 Price Changed $369,000 HGMLS
• 2000-11-02 Delisted — HGMLS
• 2000-05-19 Listed $306,000 HGMLS
• 1996-03-14 Listed — HGMLS

Property tax history

+4.3%/yr

Latest (2025): $18,239 · +6.0% YoY. Source: county tax records.