903 Howard Ave · Mamaroneck, NY 10543

$850,000

4 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 59 Days on market

Built 1932 5,663 sqft lot $474/sqft · 38% below area Est $1368k · 38% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• Schools +7.1/10.0
• Rent growth +4.2/5.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 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

Turnkey two family property with great income potential! It is close to the train station, shops, and schools. The entire building has been beautifully renovated from top to bottom. First floor unit features two large bedrooms, large living room, fully renovated bathroom, and a fully renovated large kitchen with granite countertops and stainless steel appliances. The flooring through this unit is brand new. Second floor unit features two bedrooms, large living room, fully renovated bathroom, and a fully renovated eat-in kitchen with granite countertops and stainless steel appliances. The hardwood flooring in this unit has been refinished. The property has a new roof, new windows, fresh paint on outside and inside and was completely re-wired. Perfect opportunity to live in one unit and rent out the other or a fantastic opportunity for an investor looking for an income-generating property close to the train station. Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Harbor island park
• Two-family duplex
• Natural light

Tags

• TWO-FAMILY DUPLEX
• CORNER LOT
• PRIVATE BACKYARD PATIO
• MAMARONECK RIVER
• NATURAL LIGHT
• HARBOR ISLAND PARK

Property features AI

Finance

• HOA & community: Access to a park

Exterior

• Parking: No carport
• Utilities: Electric service by Con-Edison; Public sewer; Public trash collection
• Home design: Duplex; Actual property condition
• Construction: Stucco construction
• Exterior features: Stucco exterior; Shed(s); Not waterfront

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; Wall/window air conditioning units
• Interior features: Ceiling fan(s); Unfinished basement
• Laundry & utility: Laundry in unit; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative. Per door: $-740/mo.
• To cash-flow at today's rent, offer at most $589k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $668k (21.4% below list).
• Recommended offer: $589k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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); 126 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $6,679/mo this rent would consume 63% of the median local household income ($126k/yr) (locally 1152% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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 59 days — a 3% lower offer ($824k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $545k; list at $850k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $588,715 (30.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.79% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.14%
• DSCR: 0.77
• GRM: 10.6

CMA / ARV

• ARV (median comp): $1,368,248
• List price: $850,000
• Delta: -37.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1408 Henry Ave	0.65mi	4/3.0	1,752 (-2%)	3mo	$999,000	$570	59
606 Lorraine St	0.27mi	3/2.0 (-1)	1,924 (+7%)	17mo	$750,000	$390	56
621 2nd St	0.15mi	3/2.0 (-1)	2,060 (+15%)	11mo	$865,000	$420	54
222 Waverly Ave	0.51mi	4/2.0	1,852 (+3%)	20mo	$740,000	$400	54
1306 Henry Ave	0.61mi	4/3.0	1,994 (+11%)	11mo	$923,000	$463	40

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: -24.5%
• Equity multiple: 0.14×
• Total profit: $-205,510
• Equity at exit: $126,738

10-year hold

• IRR: -10.8%
• Equity multiple: 0.23×
• Total profit: $-183,442
• Equity at exit: $73,492

Cash invested: $238,000 (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: 126
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $6,679 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$1,483 /mo · $17,801/yr
• Insurance: −$354
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,403
• Net cashflow: $-1,479

Break-even live

Break-even rent $8,551

Max offer price $588,715

Occupancy floor —

Sensitivity live

Price	-10% $-998	-5% $-1,238	+0% $-1,479	+5% $-1,720	+10% $-1,960
Rent	-10% $-2,007	-5% $-1,743	+0% $-1,479	+5% $-1,215	+10% $-951
Rate	-1.0pp $-1,051	-0.5pp $-1,263	base $-1,479	+0.5pp $-1,699	+1.0pp $-1,923

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,680
Total (2 units)			$6,679

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 Lorraine St Mamaroneck, NY	5.0	2.0	1926	$6,300	$3.27	0d	1	0.26mi
209 Halstead Ave Unit 3 Mamaroneck, NY	3.0	1.0	1500	$3,975	$2.65	45d	1	0.38mi
1016 Jefferson Ave Mamaroneck, NY	3.0	1.5	1300	$4,200	$3.23	20d	1	0.40mi
1408 Henry Ave #2 Mamaroneck, NY	3.0	1.5	1400	$4,200	$3.00	45d	1	0.64mi
14 Fremont St Unit 1 Harrison, NY	3.0	2.0	1500	$4,300	$2.87	9d	1	0.71mi
29 Fremont St Unit B Harrison, NY	3.0	2.0	1330	$4,500	$3.38	45d	1	0.74mi
94 Thatcher Ave Harrison, NY	4.0	3.5	2600	$8,250	$3.17	0d	1	0.80mi
505 Prospect Ave Mamaroneck, NY	3.0	1.5	1500	$6,700	$4.47	15d	1	0.84mi
1035 Shore Acres Dr Mamaroneck, NY	4.0	3.0	1988	$9,900	$4.98	0d	1	0.85mi
658 Shore Acres Dr Mamaroneck, NY	3.0	3.5	2062	$18,000	$8.73	0d	1	0.86mi
132 Halstead Ave Unit 4D Harrison, NY	3.0	2.5	1329	$6,850	$5.15	45d	1	0.95mi
317 Hornidge Rd Mamaroneck, NY	4.0	2.0	1600	$5,500	$3.44	18d	1	1.01mi
8 Marion Ave #6 Harrison, NY	3.0	2.5	1420	$6,400	$4.51	6d	1	1.04mi
69 Oak St Unit B Harrison, NY	3.0	3.5	2100	$7,000	$3.33	0d	1	1.05mi
530 West St Harrison, NY	4.0	2.5	2331	$6,000	$2.57	45d	1	1.06mi
135 Webster Ave Harrison, NY	3.0	1.0	1500	$3,300	$2.20	20d	1	1.11mi
140 Rockwell St Unit A Harrison, NY	3.0	2.5	1850	$7,000	$3.78	6d	1	1.20mi
8 Davenport St Harrison, NY	3.0	2.0	1700	$5,000	$2.94	4d	1	1.22mi
69 Ellsworth Ave Harrison, NY	3.0	2.5	2000	$6,500	$3.25	45d	1	1.29mi
52 Nelson Ave Unit 2 Harrison, NY	3.0	1.5	1450	$4,000	$2.76	20d	1	1.29mi
89 Crystal St Harrison, NY	3.0	2.5	1700	$8,250	$4.85	20d	1	1.46mi
87 Crystal St Harrison, NY	3.0	2.5	1700	$8,250	$4.85	20d	1	1.46mi
332 Halstead Ave Harrison, NY	1.0–3.0	1.0–3.0	1116	$5,000	$4.48	0d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $850,000 Active 59 DOM
2. 2026-06-18
   days on market $850,000 Active 56 DOM
3. 2026-06-17
   days on market $850,000 Active 55 DOM
4. 2026-06-16
   days on market $850,000 Active 54 DOM
5. 2026-06-15
   days on market $850,000 Active 53 DOM
6. 2026-06-13
   pricedays on market $850,000 Active 51 DOM
7. 2026-06-09
   days on market $875,000 Active 47 DOM
8. 2026-06-08
   days on market $875,000 Active 46 DOM
9. 2026-06-07
   days on market $875,000 Active 45 DOM
10. 2026-06-04
    days on market $875,000 Active 42 DOM
11. 2026-06-03
    days on market $875,000 Active 41 DOM
12. 2026-06-02
    days on market $875,000 Active 40 DOM
13. 2026-06-01
    days on market $875,000 Active 39 DOM
14. 2026-05-31
    days on market $875,000 Active 38 DOM
15. 2026-04-23
    listed $875,000 Active 1492-char remark
16. 2017-11-21
    soldstatus $545,000
17. 2017-11-09
    soldstatus $545,000 Sold 985-char remark

    Show marketing remark (985 chars)

    Turnkey two family property with great income potential! It is close to the train station, shops, and schools. The entire building has been beautifully renovated from top to bottom. First floor unit features two large bedrooms, large living room, fully renovated bathroom, and a fully renovated large kitchen with granite countertops and stainless steel appliances. The flooring through this unit is brand new. Second floor unit features two bedrooms, large living room, fully renovated bathroom, and a fully renovated eat-in kitchen with granite countertops and stainless steel appliances. The hardwood flooring in this unit has been refinished. The property has a new roof, new windows, fresh paint on outside and inside and was completely re-wired. Perfect opportunity to live in one unit and rent out the other or a fantastic opportunity for an investor looking for an income-generating property close to the train station. Additional Information: HeatingFuel:Oil Above Ground,

18. 2017-09-06
    historical Pending 985-char remark

    Show marketing remark (985 chars)

    Turnkey two family property with great income potential! It is close to the train station, shops, and schools. The entire building has been beautifully renovated from top to bottom. First floor unit features two large bedrooms, large living room, fully renovated bathroom, and a fully renovated large kitchen with granite countertops and stainless steel appliances. The flooring through this unit is brand new. Second floor unit features two bedrooms, large living room, fully renovated bathroom, and a fully renovated eat-in kitchen with granite countertops and stainless steel appliances. The hardwood flooring in this unit has been refinished. The property has a new roof, new windows, fresh paint on outside and inside and was completely re-wired. Perfect opportunity to live in one unit and rent out the other or a fantastic opportunity for an investor looking for an income-generating property close to the train station. Additional Information: HeatingFuel:Oil Above Ground,

19. 2017-08-09
    listed $535,000 Active 985-char remark

    Show marketing remark (985 chars)

    Turnkey two family property with great income potential! It is close to the train station, shops, and schools. The entire building has been beautifully renovated from top to bottom. First floor unit features two large bedrooms, large living room, fully renovated bathroom, and a fully renovated large kitchen with granite countertops and stainless steel appliances. The flooring through this unit is brand new. Second floor unit features two bedrooms, large living room, fully renovated bathroom, and a fully renovated eat-in kitchen with granite countertops and stainless steel appliances. The hardwood flooring in this unit has been refinished. The property has a new roof, new windows, fresh paint on outside and inside and was completely re-wired. Perfect opportunity to live in one unit and rent out the other or a fantastic opportunity for an investor looking for an income-generating property close to the train station. Additional Information: HeatingFuel:Oil Above Ground,

20. 2017-05-18
    soldstatus $273,250

ⓘ 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: $17,801 · $1,483/mo
• Projected year-2 tax: $17,801 · $1,483/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 AE · 30% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $80,148
• − Mortgage interest: −$47,613
• − Property taxes: −$17,801
• − Insurance: −$9,775
• − Repairs & maintenance: −$6,412
• − Management: −$6,412
• − Depreciation: −$24,727
• Taxable loss: −$32,592
• Est. tax savings @ 24.0%: +$7,822
• After-tax cash flow: $-9,927/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

+211.1% since first listed

7 events — show timeline

• 2026-06-13 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Listed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-21 Sold (Public Records) $545,000 Public Records
• 2017-11-09 Sold (MLS) $545,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-06 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-08-09 Listed $535,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-18 Sold (Public Records) $273,250 Public Records

Property tax history

+4.9%/yr

Latest (2025): $17,801 · +4.9% YoY. Source: county tax records.