401 Ashford Ave · Dobbs Ferry, NY 10522

$985,000

15 bd · 9.0 ba · 2,105 sqft · MultiFamily · 13 Days on market

Built 1820 4,792 sqft lot

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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 +23.0/30.0
• ARV discount +7.5/15.0
• Schools +7.5/10.0
• DSCR +7.4/10.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Rent growth +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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Phenomenal potential to own a house/building in Dobbs Ferry's downtown transition zone/area! Close to bus, parkways and shops, there are many possibilities of how to use this building! Most recently used as a two family house, there is a one bedroom apartment on the first floor and two bedroom apartment on the second floor. Full basement is walkout. There is a driveway to the back yard, which is large enough for a few cars. This zoning allows commercial on first floor w/residential above or just residential (see agents notes or zoning code). While it is being sold as is, the potential is endless. Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Beautiful kitchen
• Gut-renovated
• 4,792 sq ft lot

Tags

• RENOVATED THREE-FAMILY HOUSE
• GUT-RENOVATED
• NEW ELECTRICAL AND PLUMBING
• NEW WALLS FLOORS TILES
• HEATING AIR CONDITIONING
• BEAUTIFUL KITCHEN

Property features AI

Exterior

• Parking: Driveway parking; Total of 3 parking spaces
• Utilities: Public sewer; Electricity connected; Sewer connected
• Home design: Triplex; Updated/remodeled
• Construction: Stucco construction
• Exterior features: Stucco exterior; Not waterfront; No additional parcels

Interior

• Kitchen: Breakfast bar; Kitchen island; Quartz/Quartzite and stone counters; Open kitchen
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Electric heating; Ductless cooling
• Interior features: Breakfast bar; Kitchen island; Open kitchen; Quartz/Quartzite counters; Stone counters; Partial basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $985k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $563/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $985k).
• Cap rate 8.4% vs local median 2.3% in Dobbs Ferry — 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 (#329 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Ardsley Union Free School District (suburban): math 76% / reading 81% proficiency, ranked #32 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Concord Road Elementary School (math 64% / reading 83%, grade A, #371 of 2,108 statewide, top 18%, 830 students, 0% FRL); Ardsley Middle School (math 76% / reading 80%, grade A+, #37 of 729 statewide, top 5%, 754 students, 0% FRL); Ardsley High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 716 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: Rents rising (+3.8%/yr); 64 active listings in the ZIP; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $11,506/mo this rent would consume 83% of the median local household income ($165k/yr) (locally 393% 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 $30k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $427k; list at $985k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• 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 $985,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1820 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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: 1.17% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-42,279
• Equity at exit: $146,867

10-year hold

• IRR: 6.6%
• Equity multiple: 1.52×
• Total profit: $142,330
• Equity at exit: $85,165

Cash invested: $275,800 (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 10522

• Rents YoY: 3.8%
• Active inventory: 64
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $11,506 medium
• Mortgage (P&I): −$5,165
• Tax from tax record: −$1,769 /mo · $21,231/yr
• Insurance: −$410
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,416
• Net cashflow: $1,689

Break-even live

Break-even rent $9,368

Max offer price $985,000

Occupancy floor 80%

Sensitivity live

Price	-10% $2,247	-5% $1,968	+0% $1,689	+5% $1,410	+10% $1,131
Rent	-10% $780	-5% $1,235	+0% $1,689	+5% $2,144	+10% $2,598
Rate	-1.0pp $2,185	-0.5pp $1,940	base $1,689	+0.5pp $1,434	+1.0pp $1,174

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$11,505
Total (3 units)			$11,506

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: $246,250
• Closing costs: $29,550
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $985,000 Active 13 DOM
2. 2026-06-18
   days on market $985,000 Active 10 DOM
3. 2026-06-17
   days on market $985,000 Active 9 DOM
4. 2026-06-16
   days on market $985,000 Active 8 DOM
5. 2026-06-15
   days on market $985,000 Active 7 DOM
6. 2026-06-13
   days on market $985,000 Active 5 DOM
7. 2026-06-13
   days on market $985,000 Active 4 DOM
8. 2026-06-08
   remarks 699-char remark
9. 2026-06-08
   listed $985,000 Active 1 DOM

ⓘ 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: $21,231 · $1,769/mo
• Projected year-2 tax: $21,231 · $1,769/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $138,072
• − Mortgage interest: −$55,175
• − Property taxes: −$21,231
• − Insurance: −$5,592
• − Repairs & maintenance: −$11,046
• − Management: −$11,046
• − Depreciation: −$28,655
• Taxable income: $5,328
• Est. tax owed @ 24.0%: −$1,279
• After-tax cash flow: $18,990/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: Ardsley Union Free School District
• NCES district ID: 3603180
• Math proficiency: 76% ▼ -1.00%
• Reading proficiency: 81% ▲ 5.00%
• Median HH income: $140,823
• Composite: 75.09/100
• National rank: #141
• State rank: #32 of 590 in NY

Livability — Dobbs Ferry

• Score: 73/100
• State rank: #329
• US rank: #5447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dobbs Ferry, NY
• County: Westchester County · 709,332 people
• City population: 11,502
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 11,502
• Household income: $165,417
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 393.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 12% Asian 10% Two or more races 8% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Scotch-Irish 3% Italian 2%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 71% English-only · Other Indo-European 9% Spanish 8% Russian/Polish/Slavic 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: ▼ -490.13%
• Current HPI: 286.6096
• Rent YoY: ▲ 3.79%
• 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

+1541.7% since first listed

7 events — show timeline

• 2026-06-05 Listed $985,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-01 Sold (Public Records) $427,000 Public Records
• 2017-11-28 Sold (MLS) $427,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-03 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-09-06 Price Changed $469,000 OneKey® MLS as Distributed by MLS Grid
• 2017-07-20 Listed $519,000 OneKey® MLS as Distributed by MLS Grid
• 1996-07-09 Sold (Public Records) $60,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $21,231 · +7.5% YoY. Source: county tax records.