49 Grove St · Port Chester, NY 10573

$625,000

4 bd · 2.0 ba · 1,660 sqft · MultiFamily public records · 34 Days on market

Built 1900 1,303 sqft lot $377/sqft · 43% below area Est $1097k · 43% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.7/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

Investment opportunity meets location at 49 Grove Street in the ever-growing community of Port Chester. This classic two-family Colonial presents an excellent opportunity for investors. The property features two units: a 2-bedroom, 1-bath on the first floor and a 2-bedroom, 1-bath on the second level. Conveniently located just 10-minute walk to downtown Port Chester, with easy access to restaurants, shopping, and entertainment. Metro-North train and Bee-Line bus lines are nearby, making this an ideal location for commuters. Street parking available, along with a nearby municipal lot. Tenants pay their own utilities.

Key facts

• Two family colonial
• 1,303 sq ft lot
• Built 1900

Tags

• TWO FAMILY COLONIAL
• 10 MINUTE WALK TO DOWNTOWN
• EASY ACCESS TO RESTAURANTS
• NEARBY METRO NORTH TRAIN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive. Per door: $128/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 $603k (3.5% below list).
• Recommended offer: $603k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.3% in Port Chester — 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 73/100 on livability (#315 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A; Watch: schools D+, amenities D, cost of living F.
• Port Chester-Rye Union Free School District (suburban): math 44% / reading 49% proficiency, ranked #428 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.7%/yr); 144 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $6,033/mo this rent would consume 69% of the median local household income ($106k/yr) (locally 1362% 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 $4k of loan paydown is wiped out by about $19k 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 34 days — a 3% lower offer ($606k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $603,300 (3.5% below list)

Questions for the listing agent

1. It's been on market 34 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 8.6

CMA / ARV

• ARV (median comp): $1,096,988
• List price: $625,000
• Delta: -43.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Oak St	0.05mi	4/2.0	1,836 (+11%)	2mo	$760,000	$414	79
37 Washington St	0.10mi	3/2.0 (-1)	1,590 (-4%)	13mo	$675,000	$425	73
312 William St	0.22mi	4/2.0	1,718 (+4%)	14mo	$730,000	$425	72
43 Washington St	0.09mi	4/3.0	1,452 (-12%)	6mo	$665,000	$458	66
40 Exchange Pl	0.30mi	4/2.0	1,716 (+3%)	19mo	$830,000	$484	64
412 W William St	0.39mi	3/2.0 (-1)	1,566 (-6%)	17mo	$680,000	$434	53
18 Bent Ave	0.48mi	3/2.0 (-1)	1,739 (+5%)	15mo	$720,000	$414	52
280 Locust Ave	0.66mi	3/2.0 (-1)	1,554 (-6%)	9mo	$645,000	$415	46

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-102,409
• Equity at exit: $93,190

10-year hold

• IRR: -16.1%
• Equity multiple: 0.23×
• Total profit: $-135,617
• Equity at exit: $54,039

Cash invested: $175,000 (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 10573

• Rents YoY: -1.7%
• Active inventory: 144
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $6,033 high
• Mortgage (P&I): −$3,278
• Tax from tax record: −$972 /mo · $11,658/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,267
• Net cashflow: $257

Break-even live

Break-even rent $5,708

Max offer price $625,000

Occupancy floor 91%

Sensitivity live

Price	-10% $610	-5% $433	+0% $257	+5% $80	+10% $-97
Rent	-10% $-220	-5% $18	+0% $257	+5% $495	+10% $733
Rate	-1.0pp $571	-0.5pp $416	base $257	+0.5pp $95	+1.0pp $-70

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,032
Total (2 units)			$6,033

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Olivia St Apt 1 Port Chester, NY	4.0	3.0	2040	$4,500	$2.21	44d	1	0.34mi
21 Willett Ave Port Chester, NY	2.0–3.0	1.0–2.0	1199	$4,950	$4.13	2d	1	0.41mi
20 Church St W Unit A24 Greenwich, CT	3.0	2.0	1578	$10,500	$6.65	3d	1	0.54mi
5 Wellington Pl Unit B Greenwich, CT	3.0	2.0	1152	$4,500	$3.91	44d	1	0.58mi
10 Prospect St W Greenwich, CT	4.0	2.0	1784	$7,495	$4.20	2d	1	0.59mi
250 S Ridge St Unit 2 Rye Brook, NY	3.0	1.0	1350	$3,800	$2.81	25d	1	0.68mi
98 Byram Shore Rd Greenwich, CT	3.0	2.0	2000	$6,950	$3.48	2d	1	0.72mi
22 Wyman St Rye Brook, NY	3.0	1.0	1193	$3,500	$2.93	44d	1	0.76mi
19 Edison Pl Unit 2 Port Chester, NY	3.0	2.0	1500	$3,800	$2.53	14d	1	0.80mi
347 Delavan Ave Unit A Greenwich, CT	3.0	2.5	2158	$5,500	$2.55	19d	1	0.86mi
11 Madison Ave Unit 2nd Fl Port Chester, NY	3.0	1.0	1200	$3,700	$3.08	25d	1	0.87mi
82 Putnam Ave Port Chester, NY	3.0	1.0	1200	$3,600	$3.00	44d	1	0.87mi
89 View St W Unit 2nd floor Greenwich, CT	3.0	2.0	1870	$5,450	$2.91	19d	1	0.95mi
71 Byram Rd Unit 2 Greenwich, CT	3.0	2.0	1200	$3,400	$2.83	24d	1	0.96mi
124 Ritch Ave W Greenwich, CT	1.0–3.0	1.0–2.0	1238	$8,750	$7.07	2d	3	1.28mi
9 1/2 Putnam Grn Greenwich, CT	1.0–3.0	1.0–2.5	1234	$6,577	$5.33	2d	19	1.33mi
42 Tower Hill Dr Port Chester, NY	4.0	1.5	1864	$5,100	$2.74	44d	1	1.37mi
68 Pemberwick Rd Unit 1 Greenwich, CT	3.0	1.5	1300	$4,000	$3.08	44d	1	1.39mi
108 Monica Rd Unit 4 Greenwich, CT	3.0	1.5	1364	$3,775	$2.77	22d	1	1.41mi
34 Windy Knls Unit A Greenwich, CT	3.0	3.0	2146	$7,500	$3.49	3d	1	1.43mi

Listing history 4 events

1. 2026-05-06
   status Pending 623-char remark

   Show marketing remark (623 chars)

   Investment opportunity meets location at 49 Grove Street in the ever-growing community of Port Chester. This classic two-family Colonial presents an excellent opportunity for investors. The property features two units: a 2-bedroom, 1-bath on the first floor and a 2-bedroom, 1-bath on the second level. Conveniently located just 10-minute walk to downtown Port Chester, with easy access to restaurants, shopping, and entertainment. Metro-North train and Bee-Line bus lines are nearby, making this an ideal location for commuters. Street parking available, along with a nearby municipal lot. Tenants pay their own utilities.

2. 2026-03-11
   listed $625,000 Active 623-char remark

   Show marketing remark (623 chars)

   Investment opportunity meets location at 49 Grove Street in the ever-growing community of Port Chester. This classic two-family Colonial presents an excellent opportunity for investors. The property features two units: a 2-bedroom, 1-bath on the first floor and a 2-bedroom, 1-bath on the second level. Conveniently located just 10-minute walk to downtown Port Chester, with easy access to restaurants, shopping, and entertainment. Metro-North train and Bee-Line bus lines are nearby, making this an ideal location for commuters. Street parking available, along with a nearby municipal lot. Tenants pay their own utilities.

3. 2007-11-10
   historical
4. 2007-05-09
   listed

ⓘ 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: $11,658 · $972/mo
• Projected year-2 tax: $11,658 · $972/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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $72,396
• − Mortgage interest: −$35,010
• − Property taxes: −$11,658
• − Insurance: −$3,125
• − Repairs & maintenance: −$5,792
• − Management: −$5,792
• − Depreciation: −$18,182
• Taxable loss: −$7,162
• Est. tax savings @ 24.0%: +$1,719
• After-tax cash flow: $4,798/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: Port Chester-Rye Union Free School District
• NCES district ID: 3623460
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $58,362
• Composite: 40.67/100
• National rank: #3676
• State rank: #428 of 590 in NY

Livability — Port Chester

• Score: 73/100
• State rank: #315
• US rank: #5245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Chester, NY
• County: Westchester County · 709,332 people
• City population: 40,786
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,786
• Household income: $105,686
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1362.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 37% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 41% Other Indo-European 5% Chinese 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: ▼ -389.46%
• Current HPI: 258.9227
• Rent YoY: ▼ -1.70%
• 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

4 events — show timeline

• 2026-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Listed $625,000 OneKey® MLS as Distributed by MLS Grid
• 2007-11-10 Delisted — HGMLS
• 2007-05-09 Listed — HGMLS

Property tax history

+3.6%/yr

Latest (2025): $11,658 · +9.4% YoY. Source: county tax records.