663 Locust St Unit 5-G · Mount Vernon, NY 10552

$110,900

1 bd · 1.0 ba · 650 sqft · Condo · 125 Days on market

Built 1928 $848/mo HOA ↓ 1% since listing

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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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

English Tudor Building Walking Distance To Shopping And Bus, 2 Blocks From Rr. New Kit, New Bath, Refinished Hardwood Floors. Retro Details With Modern Upgrades, Fully Renovated. No Board Approval!

Key facts

• Cvs
• Updated bath
• Galley kitchen

Tags

• ENTRY WITH CLOSET
• GALLEY KITCHEN
• DINETTE IN LIVINGROOM
• KING SIZED BEDROOM
• UPDATED BATH
• CVS

Property features AI

Finance

• HOA & community: Association: Gramatan Management; Building amenities include elevator(s), live-in superintendent, and a park; Association fees include heat, hot water, sewer, and water; maintenance fee applies

Exterior

• Parking: On-street parking
• Security: Intercom (also listed under interior features)
• Utilities: Electric service by Con-Edison; Public sewer; Public trash collection
• Home design: Stock cooperative; One story unit; Unit on 4th floor; Actual property condition
• Construction: Brick construction; Finished basement
• Exterior features: Mailbox; Near public transit; Near shops; No waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: Located on 4th floor
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Steam heating; Wall/window air conditioning unit(s)
• Interior features: Eat-in kitchen; Elevator in building; Entrance foyer; Galley-style kitchen; High ceilings; Original details; Intercom
• Laundry & utility: Common area laundry; Oil water heater

🏢 Co-op / cooperative unit. The $110,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $111k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.3% 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: Pennington School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 426 students, 45% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL) — zoned schools at 60% FRL track the district average.
• Zoned-school proficiency averages 58% at this address vs 42% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Mount Vernon School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.0%/yr); 125 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $767 of loan paydown is wiped out by about $3k 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 + 7.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $19k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent; built in 1928 — 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 $97,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
9. 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.
10. 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: 2.20% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.40×
• Total profit: $12,565
• Equity at exit: $16,536

10-year hold

• IRR: 23.7%
• Equity multiple: 3.72×
• Total profit: $84,481
• Equity at exit: $9,589

Cash invested: $31,052 (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 10552

• Rents YoY: 7.0%
• Active inventory: 125
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,435 high
• Mortgage (P&I): −$582
• Tax est. 1.5%: −$139 /mo · $1,664/yr
• Insurance: −$46
• HOA: −$848
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $309

Break-even live

Break-even rent $2,044

Max offer price $110,900

Occupancy floor 82%

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: $27,725
• Closing costs: $3,327
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	24d	1	0.02mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$3,956	$3.90	24d	15	0.10mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$2,841	$2.97	2d	16	0.10mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$1,850	$2.55	22d	2	0.15mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	20d	1	0.62mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	0.96mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	24d	1	0.98mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	24d	1	1.03mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.24mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	24d	1	1.26mi
277 Bronx River Rd Apt 3M Yonkers, NY	—	1.0	550	$1,700	$3.09	43d	1	1.33mi
7 Monroe St Unit 3A Mt Vernon, NY	2.0	1.0	600	$2,200	$3.67	19d	1	1.37mi

HOA detail condo

• Monthly dues: $848 · $10,176/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $110,900 Active 125 DOM
2. 2026-06-17
   days on market $110,900 Active 124 DOM
3. 2026-06-16
   days on market $110,900 Active 123 DOM
4. 2026-06-15
   days on market $110,900 Active 122 DOM
5. 2026-06-13
   days on market $110,900 Active 120 DOM
6. 2026-06-09
   days on market $110,900 Active 116 DOM
7. 2026-06-08
   days on market $110,900 Active 115 DOM
8. 2026-06-07
   days on market $110,900 Active 114 DOM
9. 2026-06-04
   days on market $110,900 Active 111 DOM
10. 2026-06-03
    days on market $110,900 Active 110 DOM
11. 2026-06-02
    days on market $110,900 Active 109 DOM
12. 2026-06-01
    days on market $110,900 Active 108 DOM
13. 2026-05-31
    days on market $110,900 Active 107 DOM
14. 2026-05-19
    price $110,900
15. 2026-04-08
    price $120,900
16. 2026-02-11
    listed $129,900 Active
17. 2026-01-01
    historical
18. 2025-10-21
    price $125,000
19. 2025-06-26
    price $129,900
20. 2025-03-21
    listed $139,900 Active
21. 2005-05-06
    soldstatus $112,500 197-char remark

    Show marketing remark (197 chars)

    English Tudor Building Walking Distance To Shopping And Bus, 2 Blocks From Rr. New Kit, New Bath, Refinished Hardwood Floors. Retro Details With Modern Upgrades, Fully Renovated. No Board Approval!

22. 2005-03-07
    price $116,000 197-char remark

    Show marketing remark (197 chars)

    English Tudor Building Walking Distance To Shopping And Bus, 2 Blocks From Rr. New Kit, New Bath, Refinished Hardwood Floors. Retro Details With Modern Upgrades, Fully Renovated. No Board Approval!

23. 2005-03-07
    historical 197-char remark

    Show marketing remark (197 chars)

    English Tudor Building Walking Distance To Shopping And Bus, 2 Blocks From Rr. New Kit, New Bath, Refinished Hardwood Floors. Retro Details With Modern Upgrades, Fully Renovated. No Board Approval!

24. 2005-02-04
    listed $112,500 197-char remark

    Show marketing remark (197 chars)

    English Tudor Building Walking Distance To Shopping And Bus, 2 Blocks From Rr. New Kit, New Bath, Refinished Hardwood Floors. Retro Details With Modern Upgrades, Fully Renovated. No Board Approval!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $29,216
• − Mortgage interest: −$6,212
• − Property taxes: −$1,664
• − Insurance: −$554
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − HOA: −$10,176
• − Depreciation: −$3,226
• Taxable income: $2,709
• Est. tax owed @ 24.0%: −$650
• After-tax cash flow: $3,058/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): 22,341
• Household income: $96,717
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 652.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 39% White 31% Hispanic / Latino 17% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Russian 2% Estonian 2% Hispanic 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 7% 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: ▼ -393.94%
• Current HPI: 244.3166
• Rent YoY: ▲ 7.04%
• 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

-1.4% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $110,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $120,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-11 Listed $129,900 OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $129,900 OneKey® MLS as Distributed by MLS Grid
• 2025-03-21 Listed $139,900 OneKey® MLS as Distributed by MLS Grid
• 2005-05-06 Sold (MLS) $112,500 HGMLS
• 2005-03-07 Delisted — HGMLS
• 2005-03-07 Price Changed $116,000 HGMLS
• 2005-02-04 Listed $112,500 HGMLS