280 Collins Ave Unit 6I · Mount Vernon, NY 10552

$189,000

1 bd · 1.0 ba · 800 sqft · Condo · 22 Days on market

Built 1948

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Commuters Dream! Bright & Spacious 1 bedroom Co-Op located in desirable Mayflower Gardens . Pet friendly Co-Op accepting dogs 20 pounds, or less with board approval. There is a $10 monthly pet fee. Short walk to the Fleetwood Metro North Station. Convenient to all major parkways.

Key facts

• Major parkways
• Pet friendly
• Metro-north station

Tags

• METRO-NORTH STATION
• WALKING DISTANCE TO BRONXVILLE
• PET FRIENDLY
• MAJOR PARKWAYS

Property features AI

Finance

• HOA & community: Association: Stillman Management; Building amenities include elevators and park; Association fee includes hot water, sewer and water

Exterior

• Parking: On-street parking; Other parking options; Parking fee applies
• Utilities: Electric service by Con-Edison; Public sewer; Public trash collection
• Home design: Stock cooperative; One level unit in a 9-story building; Unit located on 6th floor or higher; Actual property condition
• Construction: Brick construction; Full attic
• Exterior features: Near public transit; Near schools; Near shops; No waterfront; Park access

Interior

• Kitchen: Refrigerator; Gas water heater
• Bedrooms: Located on the 6th floor (entry level 6)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/window air conditioning unit(s)
• Interior features: Elevator; Blinds; Intercom; Common basement

🏢 Co-op / cooperative unit. The $189,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.2% in Mount Vernon — 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 71/100 on livability (#397 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A, employment B; Watch: crime D-, cost of living F.
• Mount Vernon School District (suburban): math 35% / reading 50% proficiency, ranked #485 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pennington School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 426 students, 45% FRL); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising fast (+7.0%/yr); 128 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 + 7.0% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $125k; list at $189k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1948 — 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 $186,165 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.35% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.06%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.40×
• Total profit: $21,108
• Equity at exit: $28,181

10-year hold

• IRR: 22.0%
• Equity multiple: 3.26×
• Total profit: $119,434
• Equity at exit: $16,341

Cash invested: $52,920 (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 10552

• Rents YoY: 7.0%
• Active inventory: 128
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,550 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $642

Break-even live

Break-even rent $1,737

Max offer price $189,000

Occupancy floor 70%

Sensitivity live

Price	-10% $772	-5% $707	+0% $642	+5% $576	+10% $511
Rent	-10% $440	-5% $541	+0% $642	+5% $742	+10% $843
Rate	-1.0pp $737	-0.5pp $690	base $642	+0.5pp $593	+1.0pp $543

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$3,956	$3.90	25d	15	0.14mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$2,841	$2.97	0d	17	0.14mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	26d	1	0.17mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	26d	1	0.21mi
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	26d	1	0.27mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$1,850	$2.55	23d	2	0.35mi
671 Bronx River Rd Unit 3A Yonkers, NY	2.0	1.5	950	$3,000	$3.16	26d	1	0.60mi
200 Crescent Pl Unit 2nd fl Yonkers, NY	1.0	1.0	800	$2,300	$2.88	18d	1	0.64mi
12 Putnam St Mount Vernon, NY	2.0	1.0	950	$2,600	$2.74	26d	1	0.69mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	26d	1	0.71mi
230 N 7th Ave Unit 2 Mt Vernon, NY	1.0	1.0	950	$2,300	$2.42	12d	1	0.77mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	22d	1	0.83mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	45d	1	0.89mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	20d	1	0.96mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	26d	1	0.96mi
86 Edgewood Ave Unit 2W Yonkers, NY	2.0	1.0	1000	$2,699	$2.70	45d	1	0.97mi
86 Edgewood Ave Apt 2E Yonkers, NY	2.0	1.0	1000	$2,599	$2.60	20d	1	0.97mi
32 N Bond St Mount Vernon, NY	1.0	1.0	850	$1,900	$2.24	9d	1	1.14mi
495 Kimball Ave Unit First Floor Yonkers, NY	2.0	1.0	1100	$3,000	$2.73	45d	1	1.14mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	26d	1	1.15mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	20d	1	1.16mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	26d	1	1.17mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	26d	1	1.19mi
64 Sagamore Rd Unit A6 Bronxville, NY	1.0	1.0	850	$2,900	$3.41	6d	1	1.21mi
20 Overhill Pl Unit 3 Yonkers, NY	2.0	1.0	800	$3,000	$3.75	45d	1	1.25mi
142 Trenchard St Unit 2E Yonkers, NY	1.0	1.0	900	$2,250	$2.50	12d	1	1.27mi
64 Kensington Rd Apt 1A Bronxville, NY	1.0	1.0	800	$2,895	$3.62	13d	1	1.27mi
111 Kensington Rd Unit 8 Bronxville, NY	1.0	1.0	825	$2,650	$3.21	14d	1	1.43mi
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	9d	1	1.43mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	19d	1	1.45mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	9d	1	1.45mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	12d	1	1.46mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	26d	1	1.47mi

HOA detail condo

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

Listing history 9 events

1. 2026-05-05
   status Pending
2. 2026-04-13
   listed $189,000 Active
3. 2018-01-09
   soldstatus $125,000 Sold 284-char remark

   Show marketing remark (284 chars)

   Commuters Dream! Bright & Spacious 1 bedroom Co-Op located in desirable Mayflower Gardens . Pet friendly Co-Op accepting dogs 20 pounds, or less with board approval. There is a $10 monthly pet fee. Short walk to the Fleetwood Metro North Station. Convenient to all major parkways.

4. 2017-11-10
   historical Pending 284-char remark

   Show marketing remark (284 chars)

   Commuters Dream! Bright & Spacious 1 bedroom Co-Op located in desirable Mayflower Gardens . Pet friendly Co-Op accepting dogs 20 pounds, or less with board approval. There is a $10 monthly pet fee. Short walk to the Fleetwood Metro North Station. Convenient to all major parkways.

5. 2017-10-11
   listed $125,000 Active 284-char remark

   Show marketing remark (284 chars)

   Commuters Dream! Bright & Spacious 1 bedroom Co-Op located in desirable Mayflower Gardens . Pet friendly Co-Op accepting dogs 20 pounds, or less with board approval. There is a $10 monthly pet fee. Short walk to the Fleetwood Metro North Station. Convenient to all major parkways.

6. 2001-03-23
   soldstatus $62,000 283-char remark

   Show marketing remark (283 chars)

   Very Bright & Spacious Apartment In Northermost Section Of The Hamlet Of Fleetwood. Modernized, With Beautiful Hardwood Floors. Remodelled Kit, New Bath. Walk To Train/Shops/Bus. Beautifully Maintained And Financially Secure Complex, Wont Last!! $$$$$bonus To Sales Agent$$$$$$

7. 2000-11-30
   price $65,000 283-char remark

   Show marketing remark (283 chars)

   Very Bright & Spacious Apartment In Northermost Section Of The Hamlet Of Fleetwood. Modernized, With Beautiful Hardwood Floors. Remodelled Kit, New Bath. Walk To Train/Shops/Bus. Beautifully Maintained And Financially Secure Complex, Wont Last!! $$$$$bonus To Sales Agent$$$$$$

8. 2000-11-30
   historical 283-char remark

   Show marketing remark (283 chars)

   Very Bright & Spacious Apartment In Northermost Section Of The Hamlet Of Fleetwood. Modernized, With Beautiful Hardwood Floors. Remodelled Kit, New Bath. Walk To Train/Shops/Bus. Beautifully Maintained And Financially Secure Complex, Wont Last!! $$$$$bonus To Sales Agent$$$$$$

9. 2000-09-26
   listed $62,000 283-char remark

   Show marketing remark (283 chars)

   Very Bright & Spacious Apartment In Northermost Section Of The Hamlet Of Fleetwood. Modernized, With Beautiful Hardwood Floors. Remodelled Kit, New Bath. Walk To Train/Shops/Bus. Beautifully Maintained And Financially Secure Complex, Wont Last!! $$$$$bonus To Sales Agent$$$$$$

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,597
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$1,742
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$5,498
• Taxable income: $5,039
• Est. tax owed @ 24.0%: −$1,209
• After-tax cash flow: $6,491/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: Mount Vernon School District
• NCES district ID: 3620100
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 50% ▲ 6.00%
• Median HH income: $50,890
• Composite: 36.59/100
• National rank: #4631
• State rank: #485 of 590 in NY

Livability — Mount Vernon

• Score: 71/100
• State rank: #397
• US rank: #6876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, NY
• County: Westchester County · 709,332 people
• City population: 61,313
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,341
• Household income: $96,717
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 652.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 39% White 31% Hispanic / Latino 17% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Russian 2% Estonian 2% Hispanic 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 7% French/Haitian/Cajun 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: ▼ -393.94%
• Current HPI: 244.3166
• Rent YoY: ▲ 7.04%
• 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

+204.8% since first listed

9 events — show timeline

• 2026-05-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2018-01-09 Sold (MLS) $125,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-10 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-10-11 Listed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2001-03-23 Sold (MLS) $62,000 HGMLS
• 2000-11-30 Delisted — HGMLS
• 2000-11-30 Price Changed $65,000 HGMLS
• 2000-09-26 Listed $62,000 HGMLS