51 Tower Pl · Yonkers, NY 10703

$1,175,000

8 bd · 3.0 ba · 2,748 sqft · MultiFamily public records · 24 Days on market

Built 1913 4,792 sqft lot Est $835k · 41% over

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Why this score? — see what drove the F 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 +15.0/30.0
• DSCR +4.6/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Introducing 51 Tower Place. .. an amazing three family home located on one of the highest points in Northwest Yonkers. Th. e last time this home was on the market was over 40 years ago. Each floor has approx. 900-1000 square feet and each unit has three bedrooms, one bathroom, formal dining room and living room. The top floor has tremendous views looking towards East Yonkers. There is a private backyard and 2 -car detached garage. This home is close to public transportation and about a 8-10 minute ride to Metro North. If you are looking to invest, this is the perfect home. Current market rents and low expenses make this a great candidate for an investment.

Key facts

• Tremendous views
• Three family home
• Private backyard

Tags

• THREE FAMILY HOME
• TREMENDOUS VIEWS
• PRIVATE BACKYARD
• CLOSE TO PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Garage; 2-car garage
• Utilities: Con-Edison electric service; Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heat; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Formal dining; Natural woodwork; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $1.18M.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive. Per door: $123/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $917k (22.0% below list).
• Recommended offer: $917k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.3% in Yonkers — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Yonkers Early Childhood Academy (327 students, 72% FRL); Yonkers Middle School (math 17% / reading 37%, grade F, #587 of 729 statewide, top 81%, 601 students, 88% FRL); Yonkers High School (math 92% / reading 88%, grade A+, #238 of 1,100 statewide, top 23%, 1,060 students, 76% FRL) — zoned schools average 79% FRL vs 64% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $9,168/mo this rent would consume 123% of the median local household income ($90k/yr) (locally 1216% 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 $8k of loan paydown is wiped out by about $35k 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 24 days — a 2% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $916,800 (22.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.78% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $835,392
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Woodland Ave	0.25mi	7/3.0 (-1)	2,534 (-8%)	7mo	$770,000	$304	64
179 Woodland Ave	0.28mi	7/3.0 (-1)	2,400 (-13%)	17mo	$555,000	$231	47
80 Palmer	0.75mi	8/3.0	3,067 (+12%)	2mo	$1,100,000	$359	44

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-167,531
• Equity at exit: $175,196

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-118,176
• Equity at exit: $101,593

Cash invested: $329,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10703

• Home prices YoY: -13.2%
• Active inventory: 76
• Price-to-rent: 32.0×

Monthly cashflow live

• Estimated rent: $9,168 high
• Mortgage (P&I): −$6,162
• Tax from tax record: −$222 /mo · $2,669/yr
• Insurance: −$490
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,925
• Net cashflow: $369

Break-even live

Break-even rent $8,701

Max offer price $1,175,000

Occupancy floor 91%

Sensitivity live

Price	-10% $1,034	-5% $701	+0% $369	+5% $36	+10% $-296
Rent	-10% $-355	-5% $7	+0% $369	+5% $731	+10% $1,093
Rate	-1.0pp $961	-0.5pp $668	base $369	+0.5pp $64	+1.0pp $-245

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$9,168
Total (3 units)			$9,168

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: $293,750
• Closing costs: $35,250
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $1,175,000 Active 24 DOM
2. 2026-06-18
   days on market $1,175,000 Active 21 DOM
3. 2026-06-17
   days on market $1,175,000 Active 20 DOM
4. 2026-06-16
   days on market $1,175,000 Active 19 DOM
5. 2026-06-15
   days on market $1,175,000 Active 18 DOM
6. 2026-06-13
   days on market $1,175,000 Active 16 DOM
7. 2026-06-09
   days on market $1,175,000 Active 12 DOM
8. 2026-06-08
   days on market $1,175,000 Active 11 DOM
9. 2026-06-07
   days on market $1,175,000 Active 10 DOM
10. 2026-06-04
    days on market $1,175,000 Active 7 DOM
11. 2026-06-03
    days on market $1,175,000 Active 6 DOM
12. 2026-06-02
    days on market $1,175,000 Active 5 DOM
13. 2026-06-01
    days on market $1,175,000 Active 4 DOM
14. 2026-05-31
    days on market $1,175,000 Active 3 DOM

ⓘ 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: $2,669 · $222/mo
• Projected year-2 tax: $11,263 · $939/mo
• Expected delta: +$8,594/yr (+$716/mo · 322.1%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,016
• − Mortgage interest: −$65,818
• − Property taxes: −$2,669
• − Insurance: −$5,875
• − Repairs & maintenance: −$8,801
• − Management: −$8,801
• − Depreciation: −$34,182
• Taxable loss: −$16,130
• Est. tax savings @ 24.0%: +$3,871
• After-tax cash flow: $8,298/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: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,586
• Household income: $89,773
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1216.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 43% White 30% Black 19% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Dominican 13%
• Common ancestry: Romanian 4% Russian 2% Subsaharan African 1%
• Foreign-born: 32% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 37% Other Indo-European 5% Russian/Polish/Slavic 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: ▼ -47.22%
• Current HPI: 311.0396
• 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

1 event — show timeline

• 2026-05-28 Listed $1,175,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-22.7%/yr

Latest (2025): $2,669 · +0.7% YoY. Source: county tax records.