921 Jefferson Ave · Mamaroneck, NY 10543

$1,025,000

6 bd · 2.0 ba · 2,460 sqft · MultiFamily public records · 6 Days on market

Built 1966 7,454 sqft lot $417/sqft · 40% below area Est $1702k · 40% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Schools +7.3/10.0
• Rent growth +4.2/5.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

HIGHEST + BEST offers due May 2 at 12PM. Thank you! Rare turn-key two-family opportunity in the highly sought-after Rye Neck School District with major mechanical updates. This beautifully maintained property offers nearly 2,500 sq ft of living space and features two spacious units, each with 6+ rooms including 3 bedrooms, large living room, formal dining room, and eat-in kitchen. Interiors highlight refinished hardwood floors, updated kitchens with granite countertops and stainless steel appliances, renovated bathrooms, and central air conditioning. Major mechanical upgrades include two new high-efficiency 96% heating and central AC systems installed in 2024, two separate hot water heaters, and a new roof (2020). Each unit has separate utilities, offering true independence and making the property ideal for investors or owner-occupants. Additional features include separate washer/dryer setups, driveway parking plus a one-car garage for each unit, attic and basement storage, and a shared patio and backyard. Located on a cul-de-sac just six blocks from Metro-North, with an easy commute to NYC, and a short walk to Mamaroneck Harbor, parks, shops, restaurants, and schools. Perfect for owner-occupants looking to offset living expenses or investors seeking strong rental potential in a prime Westchester location. Roadwork in progress on Jefferson; entire road to be repaved.

Key facts

• 7,454 sq ft lot
• 2 garage spots
• Built 1966

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $1.02M.

Deal economics

• At list price, monthly cash flow is $-491 ($-6k/yr) — negative. Per door: $-246/mo.
• To cash-flow at today's rent, offer at most $938k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $881k (14.1% below list).
• Recommended offer: $881k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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+, schools B+; Watch: amenities C-, commute F, cost of living F.
• Rye Neck Union Free School District (suburban): math 78% / reading 84% proficiency, ranked #40 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $8,807/mo this rent would consume 84% of the median local household income ($126k/yr) (locally 1152% 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 $7k of loan paydown is wiped out by about $31k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% 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 $880,700 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1966 — 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 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 9.7

CMA / ARV

• ARV (median comp): $1,702,252
• List price: $1,025,000
• Delta: -39.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Franklin Ave	0.47mi	5/2.0 (-1)	2,337 (-5%)	9mo	$1,100,000	$471	58
115 Calvert St	0.75mi	6/2.0	2,612 (+6%)	6mo	$1,275,000	$488	50
423 Union Ave	0.49mi	5/2.0 (-1)	2,168 (-12%)	12mo	$950,000	$438	43
9 Walnut Ln	0.69mi	6/2.0	2,216 (-10%)	14mo	$1,075,000	$485	40
308 Travers Ave	0.43mi	5/3.0 (-1)	2,093 (-15%)	12mo	$1,105,000	$528	36
7 Harris Ln	0.71mi	6/5.0	2,757 (+12%)	17mo	$1,185,000	$430	20

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 · 6.7% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.43×
• Total profit: $-163,012
• Equity at exit: $152,831

10-year hold

• IRR: -1.3%
• Equity multiple: 0.89×
• Total profit: $-30,182
• Equity at exit: $88,623

Cash invested: $287,000 (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 10543

• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $8,807 high
• Mortgage (P&I): −$5,375
• Tax from tax record: −$1,646 /mo · $19,756/yr
• Insurance: −$427
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,849
• Net cashflow: $-491

Break-even live

Break-even rent $9,429

Max offer price $938,244

Occupancy floor —

Sensitivity live

Price	-10% $89	-5% $-201	+0% $-491	+5% $-781	+10% $-1,071
Rent	-10% $-1,187	-5% $-839	+0% $-491	+5% $-143	+10% $205
Rate	-1.0pp $25	-0.5pp $-230	base $-491	+0.5pp $-757	+1.0pp $-1,027

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$8,806
Total (2 units)			$8,807

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: $256,250
• Closing costs: $30,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 Lorraine St Mamaroneck, NY	5.0	2.0	1926	$6,300	$3.27	1d	1	0.09mi

Listing history 5 events

1. 2026-05-08
   status Pending 1393-char remark

   Show marketing remark (1393 chars)

   HIGHEST + BEST offers due May 2 at 12PM. Thank you! Rare turn-key two-family opportunity in the highly sought-after Rye Neck School District with major mechanical updates. This beautifully maintained property offers nearly 2,500 sq ft of living space and features two spacious units, each with 6+ rooms including 3 bedrooms, large living room, formal dining room, and eat-in kitchen. Interiors highlight refinished hardwood floors, updated kitchens with granite countertops and stainless steel appliances, renovated bathrooms, and central air conditioning. Major mechanical upgrades include two new high-efficiency 96% heating and central AC systems installed in 2024, two separate hot water heaters, and a new roof (2020). Each unit has separate utilities, offering true independence and making the property ideal for investors or owner-occupants. Additional features include separate washer/dryer setups, driveway parking plus a one-car garage for each unit, attic and basement storage, and a shared patio and backyard. Located on a cul-de-sac just six blocks from Metro-North, with an easy commute to NYC, and a short walk to Mamaroneck Harbor, parks, shops, restaurants, and schools. Perfect for owner-occupants looking to offset living expenses or investors seeking strong rental potential in a prime Westchester location. Roadwork in progress on Jefferson; entire road to be repaved.

2. 2026-04-27
   listed $1,025,000 Active 1393-char remark

   Show marketing remark (1393 chars)

   HIGHEST + BEST offers due May 2 at 12PM. Thank you! Rare turn-key two-family opportunity in the highly sought-after Rye Neck School District with major mechanical updates. This beautifully maintained property offers nearly 2,500 sq ft of living space and features two spacious units, each with 6+ rooms including 3 bedrooms, large living room, formal dining room, and eat-in kitchen. Interiors highlight refinished hardwood floors, updated kitchens with granite countertops and stainless steel appliances, renovated bathrooms, and central air conditioning. Major mechanical upgrades include two new high-efficiency 96% heating and central AC systems installed in 2024, two separate hot water heaters, and a new roof (2020). Each unit has separate utilities, offering true independence and making the property ideal for investors or owner-occupants. Additional features include separate washer/dryer setups, driveway parking plus a one-car garage for each unit, attic and basement storage, and a shared patio and backyard. Located on a cul-de-sac just six blocks from Metro-North, with an easy commute to NYC, and a short walk to Mamaroneck Harbor, parks, shops, restaurants, and schools. Perfect for owner-occupants looking to offset living expenses or investors seeking strong rental potential in a prime Westchester location. Roadwork in progress on Jefferson; entire road to be repaved.

3. 2026-04-20
   historical $1,025,000 1393-char remark

   Show marketing remark (1393 chars)

   HIGHEST + BEST offers due May 2 at 12PM. Thank you! Rare turn-key two-family opportunity in the highly sought-after Rye Neck School District with major mechanical updates. This beautifully maintained property offers nearly 2,500 sq ft of living space and features two spacious units, each with 6+ rooms including 3 bedrooms, large living room, formal dining room, and eat-in kitchen. Interiors highlight refinished hardwood floors, updated kitchens with granite countertops and stainless steel appliances, renovated bathrooms, and central air conditioning. Major mechanical upgrades include two new high-efficiency 96% heating and central AC systems installed in 2024, two separate hot water heaters, and a new roof (2020). Each unit has separate utilities, offering true independence and making the property ideal for investors or owner-occupants. Additional features include separate washer/dryer setups, driveway parking plus a one-car garage for each unit, attic and basement storage, and a shared patio and backyard. Located on a cul-de-sac just six blocks from Metro-North, with an easy commute to NYC, and a short walk to Mamaroneck Harbor, parks, shops, restaurants, and schools. Perfect for owner-occupants looking to offset living expenses or investors seeking strong rental potential in a prime Westchester location. Roadwork in progress on Jefferson; entire road to be repaved.

4. 2026-03-25
   listed $998,000 Active
5. 2026-03-18
   historical

ⓘ 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: $19,756 · $1,646/mo
• Projected year-2 tax: $19,756 · $1,646/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $105,684
• − Mortgage interest: −$57,416
• − Property taxes: −$19,756
• − Insurance: −$5,125
• − Repairs & maintenance: −$8,455
• − Management: −$8,455
• − Depreciation: −$29,818
• Taxable loss: −$23,341
• Est. tax savings @ 24.0%: +$5,602
• After-tax cash flow: $-291/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: Rye Neck Union Free School District
• NCES district ID: 3625290
• Math proficiency: 78% ▬ 0.00%
• Reading proficiency: 84% ▲ 12.00%
• Median HH income: $99,235
• Composite: 73.17/100
• National rank: #188
• State rank: #40 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

• Census place: Mamaroneck, NY
• 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

+2.7% since first listed

5 events — show timeline

• 2026-05-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listed $1,025,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $1,025,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Listed $998,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-18 Coming Soon — OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $19,756 · +2.3% YoY. Source: county tax records.