35 Stewart #601 · Mount Kisco, NY 10549

$82,500

1 bd · 1.0 ba · 825 sqft · Condo · 42 Days on market

Built 1969 Average condition $100/sqft · 36% below area Est $130k · 36% under $1396/mo HOA · 58% of rent

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +9.0/30.0
• Schools +5.3/10.0
• Livability +3.3/5.0
• Condition / age +2.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stewart Heights is all about location. Near so much including metro north, restaurants, shops, parks. This 1-bedroom unit will update nicely as there are wood parquet floors under the wall-to-wall carpet. Renovate or just paint, this unit has many possibilities. There are closets in the living room as well as bedroom and plenty of storage in the kitchen area. On site superintendent, laundry facility on each floor as well as trash compactor. This unit features a living room, dining area and kitchen, a bedroom and bathroom. Parking is available as well as a wait list for garage visitor parking is also provided. Hot water and heat are included in monthly maintenance.

Key facts

• Plenty of storage
• Laundry facility
• Wood parquet floors

Tags

• WOOD PARQUET FLOORS
• LAUNDRY FACILITY
• PLENTY OF STORAGE
• ON SITE SUPERINTENDENT

Property features AI

Finance

• HOA & community: Association: Stewart Heights; Association fee $1,396 monthly; Association fee includes heat, hot water, sewer, snow removal, trash and water

Exterior

• Parking: Assigned parking (1 space); Monthly parking fee
• Utilities: Electric service by Con-Edison; Public sewer; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; Entry level 6
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Flooring: Carpet; Combination flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot air heating; Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Galley-style kitchen

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $82k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-66 ($-787/yr) — negative.
• To cash-flow at today's rent, offer at most $73k (11.5% below list).
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $73k (11.5% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 2.5% in Mount Kisco — 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 66/100 on livability (#617 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime B+, housing B+; Watch: amenities F, commute F, cost of living F.
• Bedford Central School District (rural): math 54% / reading 60% proficiency, ranked #211 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Mount Kisco Elementary School (math 31% / reading 42%, grade F, #1,560 of 2,108 statewide, top 74%, 521 students, 67% FRL); Fox Lane Middle School (math 42% / reading 55%, grade C-, #300 of 729 statewide, top 41%, 765 students, 38% FRL); Fox Lane High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,241 students, 36% FRL) — zoned schools average 47% FRL vs 10% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 109 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $570 of loan paydown is wiped out by about $2k 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 42 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 58% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,007 (11.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.92% ✓
• Cap rate: 5.34%
• Cash-on-cash: -3.41%
• DSCR: 0.85
• GRM: 2.9

CMA / ARV

• ARV (median comp): $129,654
• List price: $82,500
• Delta: -36.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.5%
• Equity multiple: 0.28×
• Total profit: $-16,653
• Equity at exit: $12,301

10-year hold

• IRR: -11.1%
• Equity multiple: 0.30×
• Total profit: $-16,248
• Equity at exit: $7,133

Cash invested: $23,100 (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 10549

• Active inventory: 109
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,406 high
• Mortgage (P&I): −$433
• Tax est. 1.5%: −$103 /mo · $1,238/yr
• Insurance: −$34
• HOA: −$1,396
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $-66

Break-even live

Break-even rent $2,489

Max offer price $73,007

Occupancy floor 98%

Sensitivity live

Price	-10% $-9	-5% $-37	+0% $-66	+5% $-94	+10% $-123
Rent	-10% $-256	-5% $-161	+0% $-66	+5% $29	+10% $124
Rate	-1.0pp $-24	-0.5pp $-45	base $-66	+0.5pp $-87	+1.0pp $-109

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 W Main St Apt 6 Mt Kisco, NY	2.0	1.0	750	$2,100	$2.80	44d	1	0.33mi
59 Carpenter Ave Unit 59A Mt Kisco, NY	2.0	1.5	1100	$2,800	$2.55	19d	1	0.38mi
119 Carpenter Ave Mount Kisco, NY	1.0	1.0	800	$2,100	$2.62	2d	1	0.53mi
280 West St Mt Kisco, NY	1.0	1.0	720	$2,215	$3.08	2d	1	0.77mi
107 Sutton Dr Unit 107 Mt Kisco, NY	2.0	2.0	1100	$3,800	$3.45	11d	1	1.00mi
3 New Castle Dr Mount Kisco, NY	2.0	1.0	640	$2,900	$4.53	45d	1	1.10mi
39 Foxwood Cir Mount Kisco, NY	1.0	1.0	775	$2,950	$3.81	2d	1	1.22mi

HOA detail condo

• Monthly dues: $1,396 · $16,752/yr
• Likely covers: watertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $82,500 Active 42 DOM
2. 2026-06-17
   days on market $82,500 Active 41 DOM
3. 2026-06-16
   days on market $82,500 Active 40 DOM
4. 2026-06-15
   days on market $82,500 Active 39 DOM
5. 2026-06-13
   days on market $82,500 Active 37 DOM
6. 2026-06-13
   days on market $82,500 Active 36 DOM
7. 2026-06-10
   days on market $82,500 Active 34 DOM
8. 2026-06-09
   days on market $82,500 Active 33 DOM
9. 2026-06-08
   days on market $82,500 Active 32 DOM
10. 2026-06-07
    days on market $82,500 Active 31 DOM
11. 2026-06-05
    days on market $82,500 Active 28 DOM
12. 2026-06-03
    days on market $82,500 Active 27 DOM
13. 2026-06-03
    days on market $82,500 Active 26 DOM
14. 2026-06-01
    days on market $82,500 Active 25 DOM
15. 2026-05-31
    days on market $82,500 Active 24 DOM
16. 2026-05-05
    listed $82,500 Active 672-char remark

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,869
• − Mortgage interest: −$4,621
• − Property taxes: −$1,238
• − Insurance: −$412
• − Repairs & maintenance: −$2,310
• − Management: −$2,310
• − HOA: −$16,752
• − Depreciation: −$2,400
• Taxable loss: −$1,173
• Est. tax savings @ 24.0%: +$282
• After-tax cash flow: $-506/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.

Condition & rehab AI · 11 photos

Average 55/100 Cosmetic rehab

This 1-bedroom unit at Stewart Heights is in average condition with cosmetic updates needed. Painting and new flooring would significantly enhance its resale and rental value.

Repairs flagged

• Minor carpet — underlying wood parquet floors
• Minor paint — neutral paint

Value-add opportunities

• Both painting — enhances curb appeal and interior aesthetics
• Both new flooring — reveals underlying wood parquet floors and improves aesthetics
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
carpet · underlying wood parquet floors	Minor	$500–3,000
paint · neutral paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both painting — enhances curb appeal and interior aesthetics ↑
• Both new flooring — reveals underlying wood parquet floors and improves aesthetics ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bedford Central School District
• NCES district ID: 3619950
• Math proficiency: 54% ▼ -9.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $98,055
• Composite: 53.17/100
• National rank: #1508
• State rank: #211 of 590 in NY

Livability — Mount Kisco

• Score: 66/100
• State rank: #617
• US rank: #11203

Category grades

Amenities F Commute F Cost of living F Crime B+ Employment A+ Housing B+ Health & safety B User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Kisco, NY
• County: Westchester County · 709,332 people
• City population: 16,135
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 16,135
• Household income: $133,988
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 368.0

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: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 31% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Slovak 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 62% English-only · Spanish 24% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -371.21%
• Current HPI: 268.8086
• Rent YoY: —
• 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 event — show timeline

• 2026-05-05 Listed $82,500 OneKey® MLS as Distributed by MLS Grid