61 Lorraine Ter #241 · Mount Vernon, NY 10553

$200,000

2 bd · 2.0 ba · 1,000 sqft · Condo · 3 Days on market

Built 1970 $288/mo HOA · 10% of rent

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale 2 bedroom, 2 bath Condo unit sold in AS IS condition.

Key facts

• $288 HOA
• Built 1970
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 10.2% vs local median 5.3% 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: Graham School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 425 students, 74% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Market conditions: 47 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $130k; list at $200k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.47% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $9,515
• Equity at exit: $29,821

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $62,883
• Equity at exit: $17,292

Cash invested: $56,000 (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 10553

• Active inventory: 47
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,943 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$288
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $655

Break-even live

Break-even rent $2,114

Max offer price $200,000

Occupancy floor 73%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	7d	1	0.26mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	19d	1	0.35mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	19d	1	0.53mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	24d	1	0.62mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	0.63mi
173 Crary Ave Mount Vernon, NY	3.0	2.0	1100	$3,100	$2.82	24d	1	0.92mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	24d	1	0.96mi
10 9th St Unit 2 New Rochelle, NY	2.0	1.0	1185	$2,850	$2.41	43d	1	0.97mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	43d	1	0.99mi
9 9th St Unit 1st Floor New Rochelle, NY	3.0	1.0	1463	$3,400	$2.32	43d	1	0.99mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.13mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	17d	1	1.13mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	43d	1	1.14mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	43d	1	1.14mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	1.14mi
230 N 7th Ave Unit 2 Mt Vernon, NY	1.0	1.0	950	$2,300	$2.42	10d	1	1.20mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	43d	1	1.20mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	4d	1	1.21mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	20d	1	1.23mi
12 Putnam St Mount Vernon, NY	2.0	1.0	950	$2,600	$2.74	24d	1	1.24mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$2,675	$3.69	22d	2	1.24mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	43d	1	1.27mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$3,199	$3.35	2d	16	1.32mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$5,080	$5.01	24d	15	1.32mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	24d	1	1.32mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.35mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	24d	1	1.37mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	2d	1	1.37mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	43d	1	1.38mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	20d	1	1.40mi
607 S 5th Ave Unit 2ND Mt Vernon, NY	3.0	1.0	1200	$3,400	$2.83	24d	1	1.40mi
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	24d	1	1.41mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	24d	1	1.41mi
32 N Bond St Mount Vernon, NY	1.0	1.0	850	$1,900	$2.24	7d	1	1.41mi
26 W Devonia Ave Unit 1 Mt Vernon, NY	3.0	1.5	1388	$4,200	$3.03	11d	1	1.41mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	1.43mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	24d	1	1.44mi
421 S 10th Ave Mount Vernon, NY	3.0	1.0	1200	$3,500	$2.92	24d	1	1.44mi
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	7d	1	1.45mi
119 S 13th Ave Mount Vernon, NY	2.0	1.0	800	$2,997	$3.75	13d	1	1.46mi

HOA detail condo

• Monthly dues: $288 · $3,456/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2025-12-09
   status Pending
2. 2025-12-09
   status Active
3. 2025-11-17
   listed $200,000 Active
4. 2000-02-11
   price $135,000
5. 2000-02-11
   soldstatus $130,000
6. 1999-10-03
   listed $130,000

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

Taxation est. · year 1

• Rental income: $35,315
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,825
• − Management: −$2,825
• − HOA: −$3,456
• − Depreciation: −$5,818
• Taxable income: $5,187
• Est. tax owed @ 24.0%: −$1,245
• After-tax cash flow: $6,612/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
• City population: 61,313
• Population (ZIP): 10,815

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 Black (67%)
• Race & ethnicity: Black 67% Hispanic / Latino 15% White 12% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 6% Dominican 3%
• Common ancestry: Russian 7% Lithuanian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica, Mexico
• Languages at home: 76% English-only · Spanish 11% Other Indo-European 6% German/W. Germanic 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: ▼ -114.74%
• Current HPI: 206.233
• Rent YoY: —
• Metro: —
• 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

+53.8% since first listed

6 events — show timeline

• 2025-12-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-09 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-17 Listed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2000-02-11 Sold (MLS) $130,000 HGMLS
• 2000-02-11 Price Changed $135,000 HGMLS
• 1999-10-03 Listed $130,000 HGMLS