429 S 9th Ave · Mount Vernon, NY 10550

$499,000

None bd · None ba · 2,645 sqft · MultiFamily · 10 Days on market

Built 1930 3,500 sqft lot Est $870k · 43% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +8.1/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 429 South 9th Avenue in Mount Vernon a multi-family opportunity filled with potential. Being sold as-is, this property is ideal for investors, renovators, or end-users looking to create a customized income-producing asset or a spacious primary residence. The home features a 2-bedroom over 2-bedroom layout, with each unit offering its own private entrance, separate living room, and full kitchen, along with two full bathrooms. An enclosed sunroom attached to the first-floor unit provides additional flexible space, ideal for use as a bonus living area or a private home office. Additional highlights include a full unfinished basement, private driveway, and a detached one-car garage. With solid bones and significant upside, this property presents a rare chance to renovate and maximize value. Don’t miss the opportunity to bring your vision to life.

Key facts

• Enclosed sunroom
• Private driveway
• Private entrance

Tags

• MULTI-FAMILY OPPORTUNITY
• PRIVATE ENTRANCE
• ENCLOSED SUNROOM
• FULL UNFINISHED BASEMENT
• PRIVATE DRIVEWAY
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Garage; 4 garage spaces; No carport
• Utilities: Sewer: other; Utilities: see remarks
• Home design: Duplex
• Construction: Block construction
• Exterior features: Block construction; Not waterfront

Interior

• Flooring: Hardwood floors; Tile floors
• Heating & cooling: Natural gas heating; Other heating; No central cooling
• Interior features: Other interior features; Finished and unfinished basement

What this means for you Summary

Snapshot

• This is a multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $499k).
• Cap rate 9.3% 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: Cecil H Parker School (math 12% / reading 32%, grade F, #1,923 of 2,108 statewide, top 92%, 256 students, 80% 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).
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $6,525/mo this rent would consume 129% of the median local household income ($61k/yr) (locally 2963% 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 $3k of loan paydown is wiped out by about $15k 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 + 3.4% rent growth), your $140k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: property tax is 2.6% of price; built in 1930 — 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 $499,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $870,205
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 S 9th Ave	0.00mi	—/—	2,645 (0%)	0mo	$460,000	$174	100
4415 Mundy Ln	0.18mi	5/3.0	2,650 (+0%)	8mo	$873,000	$329	85
349 S 4th Ave	0.28mi	6/2.0	2,700 (+2%)	7mo	$1,000,000	$370	77
32 Duryea Ave	0.42mi	5/3.0	2,624 (-1%)	6mo	$875,000	$333	74
4083 Seton Ave	0.44mi	3/—	2,686 (+2%)	3mo	$800,000	$298	74
548 S 9th Ave	0.22mi	5/2.0	2,341 (-12%)	5mo	$675,000	$288	66
132 East 4th St	0.57mi	6/2.0	2,800 (+6%)	0mo	$700,000	$250	63
1461 E 233rd St	0.74mi	6/2.0	2,695 (+2%)	1mo	$950,000	$353	61
4048 Harper Ave	0.60mi	8/2.0	2,500 (-6%)	2mo	$930,000	$372	61
148 S 13th Ave	0.52mi	8/—	2,950 (+12%)	0mo	$849,000	$288	56
20 Adams St	0.71mi	4/2.0	2,400 (-9%)	0mo	$550,000	$229	51
3919 Murdock Ave	0.74mi	7/5.0	2,300 (-13%)	7mo	$1,150,000	$500	38

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.01×
• Total profit: $1,983
• Equity at exit: $74,403

10-year hold

• IRR: 10.5%
• Equity multiple: 1.83×
• Total profit: $116,381
• Equity at exit: $43,144

Cash invested: $139,720 (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 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $6,525 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$1,073 /mo · $12,882/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,370
• Net cashflow: $1,257

Break-even live

Break-even rent $4,934

Max offer price $499,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,539	-5% $1,398	+0% $1,257	+5% $1,115	+10% $974
Rent	-10% $741	-5% $999	+0% $1,257	+5% $1,514	+10% $1,772
Rate	-1.0pp $1,508	-0.5pp $1,383	base $1,257	+0.5pp $1,127	+1.0pp $996

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,524
Total (2 units)			$6,525

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 S 6th Ave Unit A Mt Vernon, NY	3.0	2.5	2500	$5,000	$2.00	26d	1	0.34mi
70 Elm Ave Unit Right Mt Vernon, NY	3.0	2.5	1800	$4,000	$2.22	6d	1	0.91mi
305 N Terrace Ave Mount Vernon, NY	2.0	1.0	1800	$3,200	$1.78	26d	1	1.24mi
106 Pelhamdale Ave Mount Vernon, NY	3.0	2.0	2699	$3,300	$1.22	8d	1	1.35mi

Listing history 4 events

1. 2026-04-30
   status Pending

   Show marketing remark (880 chars)

   Welcome to 429 South 9th Avenue in Mount Vernon a multi-family opportunity filled with potential. Being sold as-is, this property is ideal for investors, renovators, or end-users looking to create a customized income-producing asset or a spacious primary residence. The home features a 2-bedroom over 2-bedroom layout, with each unit offering its own private entrance, separate living room, and full kitchen, along with two full bathrooms. An enclosed sunroom attached to the first-floor unit provides additional flexible space, ideal for use as a bonus living area or a private home office. Additional highlights include a full unfinished basement, private driveway, and a detached one-car garage. With solid bones and significant upside, this property presents a rare chance to renovate and maximize value. Don’t miss the opportunity to bring your vision to life.

2. 2026-04-30
   status Pending 880-char remark

   Show marketing remark (880 chars)

   Welcome to 429 South 9th Avenue in Mount Vernon a multi-family opportunity filled with potential. Being sold as-is, this property is ideal for investors, renovators, or end-users looking to create a customized income-producing asset or a spacious primary residence. The home features a 2-bedroom over 2-bedroom layout, with each unit offering its own private entrance, separate living room, and full kitchen, along with two full bathrooms. An enclosed sunroom attached to the first-floor unit provides additional flexible space, ideal for use as a bonus living area or a private home office. Additional highlights include a full unfinished basement, private driveway, and a detached one-car garage. With solid bones and significant upside, this property presents a rare chance to renovate and maximize value. Don’t miss the opportunity to bring your vision to life.

3. 2026-04-20
   listed $499,000 Active

   Show marketing remark (880 chars)

   Welcome to 429 South 9th Avenue in Mount Vernon a multi-family opportunity filled with potential. Being sold as-is, this property is ideal for investors, renovators, or end-users looking to create a customized income-producing asset or a spacious primary residence. The home features a 2-bedroom over 2-bedroom layout, with each unit offering its own private entrance, separate living room, and full kitchen, along with two full bathrooms. An enclosed sunroom attached to the first-floor unit provides additional flexible space, ideal for use as a bonus living area or a private home office. Additional highlights include a full unfinished basement, private driveway, and a detached one-car garage. With solid bones and significant upside, this property presents a rare chance to renovate and maximize value. Don’t miss the opportunity to bring your vision to life.

4. 2026-04-20
   listed $499,000 Active 880-char remark

   Show marketing remark (880 chars)

   Welcome to 429 South 9th Avenue in Mount Vernon a multi-family opportunity filled with potential. Being sold as-is, this property is ideal for investors, renovators, or end-users looking to create a customized income-producing asset or a spacious primary residence. The home features a 2-bedroom over 2-bedroom layout, with each unit offering its own private entrance, separate living room, and full kitchen, along with two full bathrooms. An enclosed sunroom attached to the first-floor unit provides additional flexible space, ideal for use as a bonus living area or a private home office. Additional highlights include a full unfinished basement, private driveway, and a detached one-car garage. With solid bones and significant upside, this property presents a rare chance to renovate and maximize value. Don’t miss the opportunity to bring your vision to life.

ⓘ 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: $12,882 · $1,073/mo
• Projected year-2 tax: $12,882 · $1,073/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 ≥99°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: $78,300
• − Mortgage interest: −$27,952
• − Property taxes: −$12,882
• − Insurance: −$2,495
• − Repairs & maintenance: −$6,264
• − Management: −$6,264
• − Depreciation: −$14,516
• Taxable income: $7,927
• Est. tax owed @ 24.0%: −$1,902
• After-tax cash flow: $13,176/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): 38,972
• Household income: $60,701
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 2963.0

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: Predominantly Black (66%)
• Race & ethnicity: Black 66% Hispanic / Latino 20% Two or more races 12% White 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Estonian 2% Hispanic 1% Russian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 4% 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: ▼ -140.69%
• Current HPI: 191.5235
• Rent YoY: ▲ 3.37%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Pending — BNYMLS
• 2026-04-20 Listed $499,000 BNYMLS
• 2026-04-20 Listed $499,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+14.3%/yr

Latest (2025): $12,882 · +2.1% YoY. Source: county tax records.