413 Hancock Ave · Mount Vernon, NY 10553

$695,000

4 bd · 2.0 ba · 2,800 sqft · MultiFamily · 84 Days on market

Built 1956 3,920 sqft lot Est $675k · at est. ↓ 13% since listing

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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).

• Cash flow +13.5/30.0
• ARV discount +6.2/15.0
• 1% rule +4.3/10.0
• 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

Calling all investors & contractors looking for a great location to invest in. This Duplex is the perfect canvas for many new ideas. Renovate this Duplex for investment income from both unites or live in one and rent the other. First floor is 2/3 bedrooms, 1 bath depending on your needs. 2nd Floor has two bedrooms, 1 bath and the attic for extra space. Both units have access to laundry hookups in basement. 1 Furnace and 1 water heater. Three Electric and Gas meters. 1 for each unit and 1 for common areas in basement and garage. Heat is currently controlled by 2nf floor thermostat, but can be converted with renovating. All offers considered, but STRICTLY SOLD AS IS. Inspections are for

Key facts

• 3,920 sq ft lot
• Garage
• Built 1956

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $695k.

Deal economics

• At list price, monthly cash flow is $23 ($279/yr) — positive. Per door: $12/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 $647k (7.0% below list).
• Recommended offer: $647k (7.0% below list) — sets the bar for 1% rule.

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.
• Market conditions: 47 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $5k of loan paydown is wiped out by about $21k 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 84 days — a 6% lower offer ($653k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $646,600 (7.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 7% 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 1956 — 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: 0.93% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $674,800
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
578 E 3rd St E	0.63mi	4/2.0	2,800 (0%)	15mo	$565,000	$202	58
327 S 10th Ave	0.69mi	4/2.0	2,904 (+4%)	11mo	$700,000	$241	52
301 E Third St	0.46mi	5/3.0 (+1)	2,600 (-7%)	12mo	$520,000	$200	48
515 S 9th Ave	0.66mi	5/2.0 (+1)	2,627 (-6%)	9mo	$640,000	$244	46
260 Nuber Ave	0.31mi	4/2.0	3,157 (+13%)	22mo	$805,600	$255	46
437 E 3rd St	0.58mi	5/2.0 (+1)	2,500 (-11%)	6mo	$515,000	$206	45
315 S 4th Ave	0.41mi	5/3.0 (+1)	2,500 (-11%)	18mo	$655,000	$262	39
25 Audrey Ave	0.70mi	5/3.0 (+1)	3,200 (+14%)	9mo	$760,000	$238	28

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-110,869
• Equity at exit: $103,627

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-93,537
• Equity at exit: $60,091

Cash invested: $194,600 (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: 17.9×

Monthly cashflow live

• Estimated rent: $6,466 high
• Mortgage (P&I): −$3,645
• Tax from tax record: −$1,151 /mo · $13,808/yr
• Insurance: −$290
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,358
• Net cashflow: $23

Break-even live

Break-even rent $6,437

Max offer price $695,000

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,466
Total (2 units)			$6,466

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: $173,750
• Closing costs: $20,850
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	24d	1	0.62mi
106 Pelhamdale Ave Mount Vernon, NY	3.0	2.0	2699	$3,300	$1.22	6d	1	0.78mi
222 Lorraine Ave Mount Vernon, NY	4.0	1.5	1948	$5,500	$2.82	7d	1	1.13mi
375 Hawthorne Ter Mount Vernon, NY	3.0	3.5	1975	$10,000	$5.06	1d	1	1.36mi
10 Ridge Pl Pelham, NY	4.0	3.5	3808	$12,000	$3.15	1d	1	1.42mi
7 Flower St New Rochelle, NY	3.0	1.0	2910	$4,200	$1.44	44d	1	1.48mi

Listing history 8 events

1. 2026-02-02
   status Pending
2. 2026-02-02
   status Active
3. 2025-09-09
   status Pending
4. 2025-07-03
   status Active
5. 2025-06-20
   status Active
6. 2025-06-04
   status Active
7. 2025-06-04
   price $695,000
8. 2025-04-11
   historical $795,000

ⓘ 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: $13,808 · $1,151/mo
• Projected year-2 tax: $13,808 · $1,151/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 X (unshaded) · 24% 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: $77,592
• − Mortgage interest: −$38,931
• − Property taxes: −$13,808
• − Insurance: −$3,475
• − Repairs & maintenance: −$6,207
• − Management: −$6,207
• − Depreciation: −$20,218
• Taxable loss: −$11,255
• Est. tax savings @ 24.0%: +$2,701
• After-tax cash flow: $2,980/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

-12.6% since first listed

8 events — show timeline

• 2026-02-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-09-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-03 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-04 Price Changed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-11 Coming Soon $795,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2025): $13,808 · +2.1% YoY. Source: county tax records.