445 Gramatan Ave Unit EB3 · Mount Vernon, NY 10552

$180,000

1 bd · 1.0 ba · 700 sqft · Condo · 48 Days on market

Built 1941

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• 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

This well-appointed one-bedroom unit in Westchester Gardens is move-in ready! Conveniently located within walking distance to shops, restaurants, school and the Fleetwood Metro-North RR. The unit features an updated kitchen with granite countertops, stainless steel appliances, tiled backsplash as well as recessed and under cabinet lighting. The dining/office area includes French pocket doors and a custom built-in wall unit. There is attractive crown molding throughout, newly refinished hardwood floors, and two quality minkaAire ceiling fans. Also, upgraded electrical panel. The co-op has assigned parking; a large, very well-maintained laundry room; free community and paid private storage; bike room; and live-in superintendent and two porters. Come enjoy your view of the beautifully manicured courtyard that is lined with flowering plants and shaded by mature Linden trees! Additional Information: Amenities:Storage,

Key facts

• Dining alcove
• Tiled backsplash
• Updated kitchen

Tags

• HARDWOOD FLOORS
• DINING ALCOVE
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• TILED BACKSPLASH
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.

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; 14 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $155k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.25% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 6.7

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: 6.8%
• Equity multiple: 1.28×
• Total profit: $14,090
• Equity at exit: $26,839

10-year hold

• IRR: 19.5%
• Equity multiple: 2.95×
• Total profit: $98,191
• Equity at exit: $15,563

Cash invested: $50,400 (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: 6.7×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $530

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 71%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$1,850	$2.55	22d	2	0.15mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	24d	1	0.25mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$2,841	$2.97	1d	16	0.29mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$3,956	$3.90	24d	15	0.29mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	20d	1	0.49mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	24d	1	0.78mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	0.85mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	24d	1	0.86mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.08mi
7 Monroe St Unit 3A Mt Vernon, NY	2.0	1.0	600	$2,200	$3.67	18d	1	1.13mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	24d	1	1.15mi
277 Bronx River Rd Apt 3M Yonkers, NY	—	1.0	550	$1,700	$3.09	43d	1	1.30mi
429 S 3rd Ave Mount Vernon, NY	1.0	1.0	600	$2,300	$3.83	3d	1	1.45mi
216 1st St Unit 1 Yonkers, NY	1.0	1.0	600	$2,000	$3.33	43d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electricparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-06
   status Pending
2. 2026-02-05
   listed $180,000 Active
3. 2023-07-07
   soldstatus $155,000 Closed 929-char remark

   Show marketing remark (929 chars)

   This well-appointed one-bedroom unit in Westchester Gardens is move-in ready! Conveniently located within walking distance to shops, restaurants, school and the Fleetwood Metro-North RR. The unit features an updated kitchen with granite countertops, stainless steel appliances, tiled backsplash as well as recessed and under cabinet lighting. The dining/office area includes French pocket doors and a custom built-in wall unit. There is attractive crown molding throughout, newly refinished hardwood floors, and two quality minkaAire ceiling fans. Also, upgraded electrical panel. The co-op has assigned parking; a large, very well-maintained laundry room; free community and paid private storage; bike room; and live-in superintendent and two porters. Come enjoy your view of the beautifully manicured courtyard that is lined with flowering plants and shaded by mature Linden trees! Additional Information: Amenities:Storage,

4. 2023-03-27
   status Pending 929-char remark

   Show marketing remark (929 chars)

   This well-appointed one-bedroom unit in Westchester Gardens is move-in ready! Conveniently located within walking distance to shops, restaurants, school and the Fleetwood Metro-North RR. The unit features an updated kitchen with granite countertops, stainless steel appliances, tiled backsplash as well as recessed and under cabinet lighting. The dining/office area includes French pocket doors and a custom built-in wall unit. There is attractive crown molding throughout, newly refinished hardwood floors, and two quality minkaAire ceiling fans. Also, upgraded electrical panel. The co-op has assigned parking; a large, very well-maintained laundry room; free community and paid private storage; bike room; and live-in superintendent and two porters. Come enjoy your view of the beautifully manicured courtyard that is lined with flowering plants and shaded by mature Linden trees! Additional Information: Amenities:Storage,

5. 2023-03-14
   listed $149,000 Active 929-char remark

   Show marketing remark (929 chars)

   This well-appointed one-bedroom unit in Westchester Gardens is move-in ready! Conveniently located within walking distance to shops, restaurants, school and the Fleetwood Metro-North RR. The unit features an updated kitchen with granite countertops, stainless steel appliances, tiled backsplash as well as recessed and under cabinet lighting. The dining/office area includes French pocket doors and a custom built-in wall unit. There is attractive crown molding throughout, newly refinished hardwood floors, and two quality minkaAire ceiling fans. Also, upgraded electrical panel. The co-op has assigned parking; a large, very well-maintained laundry room; free community and paid private storage; bike room; and live-in superintendent and two porters. Come enjoy your view of the beautifully manicured courtyard that is lined with flowering plants and shaded by mature Linden trees! Additional Information: Amenities:Storage,

6. 2022-10-27
   historical
7. 2022-09-30
   price $165,000
8. 2022-07-21
   price $154,900
9. 2022-06-27
   listed $165,000 Active
10. 2020-02-14
    soldstatus $145,000 Sold
11. 2019-11-09
    status Pending
12. 2019-10-04
    listed $149,999 Active

ⓘ 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: $26,939
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$5,236
• Taxable income: $3,710
• Est. tax owed @ 24.0%: −$890
• After-tax cash flow: $5,464/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

+20.0% since first listed

12 events — show timeline

• 2026-04-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-05 Listed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-07 Sold (MLS) $155,000 OneKey® MLS as Distributed by MLS Grid
• 2023-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-03-14 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-09-30 Price Changed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-21 Price Changed $154,900 OneKey® MLS as Distributed by MLS Grid
• 2022-06-27 Listed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-14 Sold (MLS) $145,000 OneKey® MLS as Distributed by MLS Grid
• 2019-11-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-10-04 Listed $149,999 OneKey® MLS as Distributed by MLS Grid