622 2nd St · Mamaroneck, NY 10543

$275,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 119 Days on market

Built 1935 4,473 sqft lot

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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 +7.3/10.0
• Rent growth +4.2/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks with this small home in need of a full renovation — the perfect blank canvas for investors, builders, or anyone looking to create their dream space from the ground up. Tucked in a desirable neighborhood close to town, this property offers unbeatable convenience just minutes from shops, restaurants, schools, and major commuting routes. Set on a manageable lot, the home provides a great footprint to reimagine and modernize to your taste. Whether you’re planning a full-scale remodel or a thoughtful rebuild, the location ensures long-term value and strong upside potential. Homes in this area rarely come available at this price point — seize the chance to tur

Key facts

• 4,473 sq ft lot
• Garage
• Built 1935

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $250k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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.
• 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.
• Zoned schools: Daniel Warren Elementary School (320 students, 12% FRL); Rye Neck Middle School (math 73% / reading 83%, grade A+, #37 of 729 statewide, top 5%, 351 students, 16% FRL); Rye Neck Senior High School (math 98% / reading 98%, grade A+, #19 of 1,100 statewide, top 4%, 515 students, 16% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 42% 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 $2k of loan paydown is wiped out by about $8k 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 $77k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $250,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.52%
• DSCR: 2.00
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $697,368
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 Hunter St	0.54mi	3/2.0	1,196 (+2%)	9mo	$790,000	$661	61
1311 Henry Ave	0.56mi	2/1.5 (-1)	1,227 (+4%)	0mo	$790,000	$644	59
651 Plaza Ave	0.70mi	3/1.0	1,232 (+5%)	6mo	$500,000	$406	54
1676 Mamaroneck Ave	0.58mi	3/1.0	1,269 (+8%)	9mo	$640,000	$504	52
604 Hampshire Rd	0.28mi	4/1.0 (+1)	1,350 (+15%)	8mo	$775,000	$574	51
1116 Park Ave	0.45mi	3/1.0	1,340 (+14%)	10mo	$830,000	$619	48
425 4th St	0.50mi	2/1.0 (-1)	1,078 (-8%)	22mo	$643,000	$596	40
148 Frank Ave	0.59mi	2/2.0 (-1)	1,316 (+12%)	12mo	$780,000	$593	34
227 Madison St	0.64mi	2/1.0 (-1)	1,000 (-15%)	15mo	$530,000	$530	28
126 Florence St	0.67mi	2/1.5 (-1)	1,008 (-14%)	18mo	$520,000	$516	23
17 Adelphi Ave	0.67mi	3/2.0	1,344 (+14%)	22mo	$882,500	$657	23

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: 19.7%
• Equity multiple: 1.84×
• Total profit: $64,942
• Equity at exit: $41,003

10-year hold

• IRR: 30.6%
• Equity multiple: 4.28×
• Total profit: $252,324
• Equity at exit: $23,777

Cash invested: $77,000 (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: 5.1×

Monthly cashflow live

• Estimated rent: $4,474 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$533 /mo · $6,393/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$940
• Net cashflow: $1,445

Break-even live

Break-even rent $2,645

Max offer price $275,000

Occupancy floor 63%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1016 Jefferson Ave Mamaroneck, NY	3.0	1.5	1300	$4,200	$3.23	18d	1	0.30mi
746 Mamaroneck Ave Mamaroneck, NY	1.0–2.0	1.0–2.0	974	$6,015	$6.17	1d	16	0.43mi
209 Halstead Ave Unit 3 Mamaroneck, NY	3.0	1.0	1500	$3,975	$2.65	43d	1	0.52mi
1408 Henry Ave #1 Mamaroneck, NY	2.0	1.0	850	$3,200	$3.76	43d	1	0.59mi
1408 Henry Ave #2 Mamaroneck, NY	3.0	1.5	1400	$4,200	$3.00	43d	1	0.59mi
14 Fremont St Unit 1 Harrison, NY	3.0	2.0	1500	$4,300	$2.87	7d	1	0.63mi
210 Union Ave Mamaroneck, NY	3.0	1.5	1000	$3,500	$3.50	24d	1	0.65mi
416 Tompkins Ave Unit SECOND FLOOR Mamaroneck, NY	2.0	1.0	1100	$3,800	$3.45	43d	1	0.65mi
29 Fremont St Unit B Harrison, NY	3.0	2.0	1330	$4,500	$3.38	43d	1	0.66mi
338 Palmer Ave Unit B Mamaroneck, NY	2.0	1.0	900	$3,700	$4.11	24d	1	0.82mi
132 Halstead Ave Unit 2B Harrison, NY	2.0	2.0	1132	$5,500	$4.86	43d	1	0.85mi
132 Halstead Ave Unit 4D Harrison, NY	3.0	2.5	1329	$6,850	$5.15	43d	1	0.85mi
53 Rose Ave Unit 2 Harrison, NY	3.0	1.0	1000	$3,300	$3.30	24d	1	0.86mi
8 Marion Ave #6 Harrison, NY	3.0	2.5	1420	$6,400	$4.51	4d	1	0.92mi
135 Webster Ave Harrison, NY	3.0	1.0	1500	$3,300	$2.20	18d	1	0.97mi
505 Prospect Ave Mamaroneck, NY	3.0	1.5	1500	$6,700	$4.47	13d	1	0.98mi
97 Crotona Ave Unit 1 Harrison, NY	3.0	1.0	1000	$3,900	$3.90	43d	1	1.07mi
52 Nelson Ave Unit 2 Harrison, NY	3.0	1.5	1450	$4,000	$2.76	18d	1	1.17mi
74 Nelson Ave Apt 4 Harrison, NY	2.0	1.0	914	$4,500	$4.92	43d	1	1.21mi
74 Nelson Ave Apt 1 Harrison, NY	2.0	1.0	900	$4,000	$4.44	43d	1	1.21mi
48 Oakland Ave Harrison, NY	2.0	1.0	1000	$3,000	$3.00	24d	1	1.32mi
332 Halstead Ave Harrison, NY	1.0–3.0	1.0–3.0	1116	$6,805	$6.09	1d	1	1.38mi

Listing history 2 events

1. 2026-03-11
   status Pending
2. 2025-11-12
   listed $275,000 Active

ⓘ 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: $6,393 · $533/mo
• Projected year-2 tax: $6,393 · $533/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 (shaded) · 47% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $53,691
• − Mortgage interest: −$15,404
• − Property taxes: −$6,393
• − Insurance: −$1,375
• − Repairs & maintenance: −$4,295
• − Management: −$4,295
• − Depreciation: −$8,000
• Taxable income: $13,928
• Est. tax owed @ 24.0%: −$3,343
• After-tax cash flow: $14,000/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 events — show timeline

• 2026-03-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-12 Listed $275,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2025): $6,393 · -30.2% YoY. Source: county tax records.