289 Bedford Ave · Mount Vernon, NY 10553

$799,000

8 bd · 5.0 ba · 6,000 sqft · MultiFamily · 121 Days on market

Built 1924

---

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).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• DSCR +4.1/10.0
• 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

Multi-family units

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

Listing remarks

This incredible 2 Family home sits on the corner of Bedford Ave and East 4th St. Apartment #1 Address 421 East 4th Street: This gem features 4 bedrooms, 2.5 baths, a formal dining room, a versatile office/den, a fantastic eat-in kitchen (EIK), a cozy living room, and gleaming hardwood floors. Plus, there's a finished attic, a finished basement, and a two-car attached garage. Apartment#2 Address 289 Bedford Ave: Equally impressive, this beauty offers similar living space with an unfinished basement and unfinished attic. Driveway. Sold as is!

Key facts

• 2 garage spots
• Built 1924
• Listed 121 days

What this means for you Summary

Snapshot

• This is a 2 × 4.0-bed/2.5-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $25 ($302/yr) — positive. Per door: $13/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 $760k (4.8% below list).
• Recommended offer: $703k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 5.2% in Mount Vernon — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 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: 47 active listings in the ZIP; 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 $6k of loan paydown is wiped out by about $24k 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 121 days — a 12% lower offer ($703k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 31y 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 $250k; list at $799k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $703,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 8.8

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-127,474
• Equity at exit: $119,133

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-107,326
• Equity at exit: $69,083

Cash invested: $223,720 (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 10553

• Active inventory: 47
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $7,604 medium
• Mortgage (P&I): −$4,190
• Tax from tax record: −$1,459 /mo · $17,509/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,597
• Net cashflow: $25

Break-even live

Break-even rent $7,572

Max offer price $799,000

Occupancy floor 95%

Sensitivity live

Price	-10% $477	-5% $251	+0% $25	+5% $-201	+10% $-427
Rent	-10% $-576	-5% $-275	+0% $25	+5% $325	+10% $626
Rate	-1.0pp $428	-0.5pp $228	base $25	+0.5pp $-182	+1.0pp $-393

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

Units	Beds	Baths	Est. rent
▸ 2× units	4.0	2.5	$7,604
Total (2 units)			$7,604

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-02-11
   status Pending
2. 2026-02-10
   status Active
3. 2025-06-16
   status Pending
4. 2025-02-17
   listed $799,000 Active
5. 2025-02-14
   historical $799,000
6. 2022-12-27
   listed $999,000 Active
7. 2022-09-14
   status Pending
8. 2022-09-13
   historical
9. 2022-04-22
   listed $999,000 Active
10. 1996-09-20
    price $269,000
11. 1996-09-20
    soldstatus $250,000
12. 1995-12-03
    listed $250,000

ⓘ 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: $17,509 · $1,459/mo
• Projected year-2 tax: $17,509 · $1,459/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 · 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: $91,248
• − Mortgage interest: −$44,756
• − Property taxes: −$17,509
• − Insurance: −$3,995
• − Repairs & maintenance: −$7,300
• − Management: −$7,300
• − Depreciation: −$23,244
• Taxable loss: −$12,856
• Est. tax savings @ 24.0%: +$3,085
• After-tax cash flow: $3,387/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

+219.6% since first listed

12 events — show timeline

• 2026-02-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-02-17 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-14 Coming Soon $799,000 OneKey® MLS as Distributed by MLS Grid
• 2022-12-27 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2022-09-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-09-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-04-22 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 1996-09-20 Sold (MLS) $250,000 HGMLS
• 1996-09-20 Price Changed $269,000 HGMLS
• 1995-12-03 Listed $250,000 HGMLS

Property tax history

+3.5%/yr

Latest (2025): $17,509 · +2.9% YoY. Source: county tax records.