41 Ellis Pl · Ossining, NY 10562

$550,000

3 bd · 2.0 ba · 2,276 sqft · MultiFamily public records · 35 Days on market

Built 1912 7,405 sqft lot $242/sqft · 55% below area

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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 +21.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +6.9/10.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Very Spacious Home In Great Location. Excellent Curb Appeal. Needs A New Kitchen In One Unit. And Some Repairs. The Potential Is Huge. Call Today. Buyer Pays All Transfer Taxes And All Offers In Writing With Preapprovals. Property Is Winterized And Is Being Sold As Is Call To Make A Deal Today

Key facts

• Spacious backyard
• 2-family opportunity
• Private entrance

Tags

• 2-FAMILY OPPORTUNITY
• SEPARATE STUDIO APARTMENT
• PRIVATE ENTRANCE
• LARGE PRIVATE DRIVEWAY
• AMPLE OFF-STREET PARKING
• SPACIOUS BACKYARD

Property features AI

Exterior

• Parking: Carport for 2 vehicles; Private driveway
• Utilities: Public sewer; Electricity available and connected; Natural gas available and connected; Sewer connected; Public trash collection
• Home design: Duplex
• Construction: Shingle siding construction
• Exterior features: Shingle siding; Not waterfront

Interior

• Kitchen: Walk-through kitchen (appliance details not provided)
• Bedrooms: One 1-bedroom unit; One 4-bedroom unit
• Flooring: Hardwood; Tile
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Walk-through kitchen; Basement with storage space
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.9% in Ossining — 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 80/100 on livability (#116 in NY, #1,876 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A; Watch: cost of living F.
• Ossining Union Free School District (suburban): math 72% / reading 72% proficiency, ranked #104 of 590 in NY (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Ossining High School (math 86% / reading 82%, grade A, #404 of 1,100 statewide, top 37%, 1,552 students, 51% FRL).
• Zoned-school proficiency averages 84% at this address vs 72% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Ossining Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 134 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $4k of loan paydown is wiped out by about $16k 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 35 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $202k; list at $550k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% 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 $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.22% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• GRM: 6.8

CMA / ARV

• ARV (median comp): $1,233,954
• List price: $550,000
• Delta: -55.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 William St	0.55mi	4/2.0 (+1)	2,116 (-7%)	5mo	$500,000	$236	53
90 Broadway	0.36mi	4/2.0 (+1)	1,935 (-15%)	3mo	$600,000	$310	50
6 Marshall Pl	0.60mi	4/2.0 (+1)	2,500 (+10%)	18mo	$730,000	$292	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-35,955
• Equity at exit: $82,007

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $38,598
• Equity at exit: $47,554

Cash invested: $154,000 (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 10562

• Active inventory: 134
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $6,721 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$1,370 /mo · $16,435/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,411
• Net cashflow: $827

Break-even live

Break-even rent $5,675

Max offer price $550,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$6,720
Total (2 units)			$6,721

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Meadow Rd Briarcliff Manor, NY	4.0	2.5	2400	$6,300	$2.62	1d	1	0.47mi
51 Iroquois Rd Ossining, NY	4.0	2.0	1703	$4,950	$2.91	24d	1	0.89mi
137 Cedar Ln Ossining, NY	4.0	2.5	2592	$23,000	$8.87	1d	1	1.20mi
305 Glenwood Dr Unit 3-3 Briarcliff Manor, NY	4.0	3.5	2297	$5,500	$2.39	7d	1	1.23mi

Listing history 9 events

1. 2026-06-02
   statusdays on market $550,000 Pending 35 DOM
2. 2026-06-01
   days on market $550,000 Active 34 DOM
3. 2026-05-31
   days on market $550,000 Active 33 DOM
4. 2026-04-21
   listed $550,000 Active 2142-char remark
5. 2000-04-24
   soldstatus $202,500
6. 2000-03-06
   soldstatus $177,000 294-char remark

   Show marketing remark (294 chars)

   Very Spacious Home In Great Location. Excellent Curb Appeal. Needs A New Kitchen In One Unit. And Some Repairs. The Potential Is Huge. Call Today. Buyer Pays All Transfer Taxes And All Offers In Writing With Preapprovals. Property Is Winterized And Is Being Sold As Is Call To Make A Deal Today

7. 2000-01-18
   historical 294-char remark

   Show marketing remark (294 chars)

   Very Spacious Home In Great Location. Excellent Curb Appeal. Needs A New Kitchen In One Unit. And Some Repairs. The Potential Is Huge. Call Today. Buyer Pays All Transfer Taxes And All Offers In Writing With Preapprovals. Property Is Winterized And Is Being Sold As Is Call To Make A Deal Today

8. 2000-01-18
   price $186,500 294-char remark

   Show marketing remark (294 chars)

   Very Spacious Home In Great Location. Excellent Curb Appeal. Needs A New Kitchen In One Unit. And Some Repairs. The Potential Is Huge. Call Today. Buyer Pays All Transfer Taxes And All Offers In Writing With Preapprovals. Property Is Winterized And Is Being Sold As Is Call To Make A Deal Today

9. 1999-12-18
   listed $177,000 294-char remark

   Show marketing remark (294 chars)

   Very Spacious Home In Great Location. Excellent Curb Appeal. Needs A New Kitchen In One Unit. And Some Repairs. The Potential Is Huge. Call Today. Buyer Pays All Transfer Taxes And All Offers In Writing With Preapprovals. Property Is Winterized And Is Being Sold As Is Call To Make A Deal Today

ⓘ 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: $16,435 · $1,370/mo
• Projected year-2 tax: $16,435 · $1,370/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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,652
• − Mortgage interest: −$30,809
• − Property taxes: −$16,435
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,452
• − Management: −$6,452
• − Depreciation: −$16,000
• Taxable income: $1,755
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $9,498/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: Ossining Union Free School District
• NCES district ID: 3622020
• Math proficiency: 72% ▲ 27.00%
• Reading proficiency: 72% ▲ 25.00%
• Median HH income: $78,402
• Composite: 63.75/100
• National rank: #599
• State rank: #104 of 590 in NY

Livability — Ossining

• Score: 80/100
• State rank: #116
• US rank: #1876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ossining, NY
• County: Westchester County · 709,332 people
• City population: 33,793
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 33,793
• Household income: $115,697
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 1248.0

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 0.63)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 11% Black 8% Asian 4%
• Hispanic origin (detail): Puerto Rican 6% Cuban 2% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Italian 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 59% English-only · Spanish 31% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -605.12%
• Current HPI: 251.6831
• Rent YoY: —
• 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

+210.7% since first listed

7 events — show timeline

• 2026-06-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-21 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2000-04-24 Sold (Public Records) $202,500 Public Records
• 2000-03-06 Sold (MLS) $177,000 HGMLS
• 2000-01-18 Price Changed $186,500 HGMLS
• 2000-01-18 Delisted — HGMLS
• 1999-12-18 Listed $177,000 HGMLS

Property tax history

+4.2%/yr

Latest (2025): $16,435 · +3.8% YoY. Source: county tax records.