412 Munro Ave Unit 3J · Mamaroneck, NY 10543

$225,000

1 bd · 1.0 ba · 650 sqft · Condo · 17 Days on market

Built 1927

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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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• 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

The deal you've been waiting for has arrived! Your jaw will drop when you step inside this spectacular, completely turn key apartment in one of Mamaroneck's most desirable small Co-Ops - well maintained & pet-friendly w/strong financials, a brand new community patio, and assigned parking. The heart of the unit is a stunning new open-plan living and kitchen area featuring luxurious quartz countertops and an oversized marble Crate & Barrel island - included in the sale alongside designer West Elm lighting, Elfa closet systems, and a custom built-in workspace. You'll love working from home, relaxing, and entertaining friends in this sundrenched room complete w/views of Mamaroneck Harbor. A king-sized bedroom and 2 hall closets provide plenty of room to spread out, & the bathroom is nicely updated with brand new vanity, lighting, and mirror. Conveniently situated just a few blocks from Harbor Island Park & Mamaroneck Ave, residents enjoy proximity to scenic green spaces, waterfront views, vibrant downtown shops & restaurants, and just over half an hour commute to NYC via Metro-North.

Key facts

• Built 1927
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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+; 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: Mamaroneck Avenue School (math 43% / reading 60%, grade C-, #1,041 of 2,108 statewide, top 50%, 684 students, 49% 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) — zoned schools average 31% FRL vs 12% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.26%
• DSCR: 1.55
• GRM: 6.7

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: 6.0%
• Equity multiple: 1.24×
• Total profit: $15,315
• Equity at exit: $33,548

10-year hold

• IRR: 18.5%
• Equity multiple: 2.81×
• Total profit: $113,870
• Equity at exit: $19,454

Cash invested: $63,000 (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: 6.7×

Monthly cashflow live

• Estimated rent: $2,783 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $644

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 72%

Sensitivity live

Price	-10% $799	-5% $721	+0% $644	+5% $566	+10% $488
Rent	-10% $424	-5% $534	+0% $644	+5% $753	+10% $863
Rate	-1.0pp $757	-0.5pp $701	base $644	+0.5pp $585	+1.0pp $526

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	44d	1	0.01mi
505 Rockland Ave Unit 2 Mamaroneck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.42mi
538 Jefferson Ave Mamaroneck, NY	1.0	1.0	600	$2,100	$3.50	44d	1	0.84mi
501 N Barry Ave Unit 2F Mamaroneck, NY	1.0	1.0	600	$2,150	$3.58	44d	1	0.87mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-03-26
   status Pending
2. 2026-03-10
   listed $225,000 Active
3. 2026-03-06
   historical $225,000
4. 2024-09-20
   soldstatus $215,000 Closed 1116-char remark

   Show marketing remark (1116 chars)

   The deal you've been waiting for has arrived! Your jaw will drop when you step inside this spectacular, completely turn key apartment in one of Mamaroneck's most desirable small Co-Ops - well maintained & pet-friendly w/strong financials, a brand new community patio, and assigned parking. The heart of the unit is a stunning new open-plan living and kitchen area featuring luxurious quartz countertops and an oversized marble Crate & Barrel island - included in the sale alongside designer West Elm lighting, Elfa closet systems, and a custom built-in workspace. You'll love working from home, relaxing, and entertaining friends in this sundrenched room complete w/views of Mamaroneck Harbor. A king-sized bedroom and 2 hall closets provide plenty of room to spread out, & the bathroom is nicely updated with brand new vanity, lighting, and mirror. Conveniently situated just a few blocks from Harbor Island Park & Mamaroneck Ave, residents enjoy proximity to scenic green spaces, waterfront views, vibrant downtown shops & restaurants, and just over half an hour commute to NYC via Metro-North.

5. 2024-07-23
   status Pending 1116-char remark

   Show marketing remark (1116 chars)

   The deal you've been waiting for has arrived! Your jaw will drop when you step inside this spectacular, completely turn key apartment in one of Mamaroneck's most desirable small Co-Ops - well maintained & pet-friendly w/strong financials, a brand new community patio, and assigned parking. The heart of the unit is a stunning new open-plan living and kitchen area featuring luxurious quartz countertops and an oversized marble Crate & Barrel island - included in the sale alongside designer West Elm lighting, Elfa closet systems, and a custom built-in workspace. You'll love working from home, relaxing, and entertaining friends in this sundrenched room complete w/views of Mamaroneck Harbor. A king-sized bedroom and 2 hall closets provide plenty of room to spread out, & the bathroom is nicely updated with brand new vanity, lighting, and mirror. Conveniently situated just a few blocks from Harbor Island Park & Mamaroneck Ave, residents enjoy proximity to scenic green spaces, waterfront views, vibrant downtown shops & restaurants, and just over half an hour commute to NYC via Metro-North.

6. 2024-07-10
   listed $190,000 Active 1116-char remark

   Show marketing remark (1116 chars)

   The deal you've been waiting for has arrived! Your jaw will drop when you step inside this spectacular, completely turn key apartment in one of Mamaroneck's most desirable small Co-Ops - well maintained & pet-friendly w/strong financials, a brand new community patio, and assigned parking. The heart of the unit is a stunning new open-plan living and kitchen area featuring luxurious quartz countertops and an oversized marble Crate & Barrel island - included in the sale alongside designer West Elm lighting, Elfa closet systems, and a custom built-in workspace. You'll love working from home, relaxing, and entertaining friends in this sundrenched room complete w/views of Mamaroneck Harbor. A king-sized bedroom and 2 hall closets provide plenty of room to spread out, & the bathroom is nicely updated with brand new vanity, lighting, and mirror. Conveniently situated just a few blocks from Harbor Island Park & Mamaroneck Ave, residents enjoy proximity to scenic green spaces, waterfront views, vibrant downtown shops & restaurants, and just over half an hour commute to NYC via Metro-North.

7. 2024-07-05
   historical $190,000 1116-char remark

   Show marketing remark (1116 chars)

   The deal you've been waiting for has arrived! Your jaw will drop when you step inside this spectacular, completely turn key apartment in one of Mamaroneck's most desirable small Co-Ops - well maintained & pet-friendly w/strong financials, a brand new community patio, and assigned parking. The heart of the unit is a stunning new open-plan living and kitchen area featuring luxurious quartz countertops and an oversized marble Crate & Barrel island - included in the sale alongside designer West Elm lighting, Elfa closet systems, and a custom built-in workspace. You'll love working from home, relaxing, and entertaining friends in this sundrenched room complete w/views of Mamaroneck Harbor. A king-sized bedroom and 2 hall closets provide plenty of room to spread out, & the bathroom is nicely updated with brand new vanity, lighting, and mirror. Conveniently situated just a few blocks from Harbor Island Park & Mamaroneck Ave, residents enjoy proximity to scenic green spaces, waterfront views, vibrant downtown shops & restaurants, and just over half an hour commute to NYC via Metro-North.

8. 2021-03-15
   soldstatus $144,000 Closed 1024-char remark

   Show marketing remark (1024 chars)

   Prime Location! Just two blocks from vibrant Harbor Island waterfront. Harbor Island boasts, fishing, ball fields, tennis, marina, playground, and a beach! Just a short stroll to the bustling village of Mamaroneck where you will enjoy restaurants and shops. Walk .6 mile to Metro North and be in Grand Central in just 35 minutes! Heathcote Manor is a sought-after meticulously maintained pre-war Tudor building. Manicured landscaping, elegant lobby entrance. A pet-friendly building adds to the charm and lifestyle; Dogs under 50lbs and cats are welcome! Building storage space included. Laundry Room, outdoor barbecue area. Street parking or municipal parking are available. Hardwood Floors throughout. View of Courtyard and Long Island sound from your Living room. Watch the sailboats overlooking Marina & Harbor and enjoy fresh sea air breezes. Plenty of closets. Pullman Kitchen and bath in need of TLC. With enormous potential, make your home in this magical location! Additional Information: Amenities:Storage,

9. 2021-01-11
   status Pending 1024-char remark

   Show marketing remark (1024 chars)

   Prime Location! Just two blocks from vibrant Harbor Island waterfront. Harbor Island boasts, fishing, ball fields, tennis, marina, playground, and a beach! Just a short stroll to the bustling village of Mamaroneck where you will enjoy restaurants and shops. Walk .6 mile to Metro North and be in Grand Central in just 35 minutes! Heathcote Manor is a sought-after meticulously maintained pre-war Tudor building. Manicured landscaping, elegant lobby entrance. A pet-friendly building adds to the charm and lifestyle; Dogs under 50lbs and cats are welcome! Building storage space included. Laundry Room, outdoor barbecue area. Street parking or municipal parking are available. Hardwood Floors throughout. View of Courtyard and Long Island sound from your Living room. Watch the sailboats overlooking Marina & Harbor and enjoy fresh sea air breezes. Plenty of closets. Pullman Kitchen and bath in need of TLC. With enormous potential, make your home in this magical location! Additional Information: Amenities:Storage,

10. 2021-01-08
    historical 1024-char remark

    Show marketing remark (1024 chars)

    Prime Location! Just two blocks from vibrant Harbor Island waterfront. Harbor Island boasts, fishing, ball fields, tennis, marina, playground, and a beach! Just a short stroll to the bustling village of Mamaroneck where you will enjoy restaurants and shops. Walk .6 mile to Metro North and be in Grand Central in just 35 minutes! Heathcote Manor is a sought-after meticulously maintained pre-war Tudor building. Manicured landscaping, elegant lobby entrance. A pet-friendly building adds to the charm and lifestyle; Dogs under 50lbs and cats are welcome! Building storage space included. Laundry Room, outdoor barbecue area. Street parking or municipal parking are available. Hardwood Floors throughout. View of Courtyard and Long Island sound from your Living room. Watch the sailboats overlooking Marina & Harbor and enjoy fresh sea air breezes. Plenty of closets. Pullman Kitchen and bath in need of TLC. With enormous potential, make your home in this magical location! Additional Information: Amenities:Storage,

11. 2020-12-26
    listed $148,900 Active 1024-char remark

    Show marketing remark (1024 chars)

    Prime Location! Just two blocks from vibrant Harbor Island waterfront. Harbor Island boasts, fishing, ball fields, tennis, marina, playground, and a beach! Just a short stroll to the bustling village of Mamaroneck where you will enjoy restaurants and shops. Walk .6 mile to Metro North and be in Grand Central in just 35 minutes! Heathcote Manor is a sought-after meticulously maintained pre-war Tudor building. Manicured landscaping, elegant lobby entrance. A pet-friendly building adds to the charm and lifestyle; Dogs under 50lbs and cats are welcome! Building storage space included. Laundry Room, outdoor barbecue area. Street parking or municipal parking are available. Hardwood Floors throughout. View of Courtyard and Long Island sound from your Living room. Watch the sailboats overlooking Marina & Harbor and enjoy fresh sea air breezes. Plenty of closets. Pullman Kitchen and bath in need of TLC. With enormous potential, make your home in this magical location! Additional Information: Amenities:Storage,

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,395
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,672
• − Management: −$2,672
• − Depreciation: −$6,545
• Taxable income: $4,402
• Est. tax owed @ 24.0%: −$1,057
• After-tax cash flow: $6,666/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

• 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

+51.1% since first listed

11 events — show timeline

• 2026-03-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-06 Coming Soon $225,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-20 Sold (MLS) $215,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-23 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-07-10 Listed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-05 Coming Soon $190,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-15 Sold (MLS) $144,000 OneKey® MLS as Distributed by MLS Grid
• 2021-01-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-01-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-12-26 Listed $148,900 OneKey® MLS as Distributed by MLS Grid