209 Grand St · Mamaroneck, NY 10543

$799,000

4 bd · 2.0 ba · 1,784 sqft · MultiFamily public records · 117 Days on market

Built 1933 9,631 sqft lot Est $714k · 12% over

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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 +17.2/30.0
• Schools +7.1/10.0
• DSCR +5.4/10.0
• Rent growth +4.2/5.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• 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

Welcome to 209 Grand Street – A Fantastic Investment or Multi-Family Opportunity in Mamaroneck! Whether you're looking to generate rental income or seeking a home with additional space for extended family, this charming two-family residence is a must-see. The first-floor unit offers an eat-in kitchen, living room, bathroom, and three bedrooms. The second-floor unit features an updated eat-in kitchen, living room, bathroom, and two bedrooms. Tenants pay their own utilities, including heat, electricity, and cooking gas. The home includes an attached one-car garage and a newly paved driveway that accommodates 4–5 vehicles. Current tenants are on a month-to-month lease with below-m

Key facts

• Two-family residence
• Newly paved driveway
• Eat-in kitchen

Tags

• TWO-FAMILY RESIDENCE
• EAT-IN KITCHEN
• UPDATED EAT-IN KITCHEN
• ATTACHED ONE-CAR GARAGE
• NEWLY PAVED DRIVEWAY
• NOT LOCATED IN A FLOOD ZONE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive. Per door: $288/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 $708k (11.4% below list).
• Recommended offer: $708k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.1% in Mamaroneck — 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 69/100 on livability (#491 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities C-, commute F, cost of living F.
• Mamaroneck Union Free School District (suburban): math 74% / reading 81% proficiency, ranked #47 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Mamaroneck Avenue School (math 43% / reading 60%, grade C-, #1,041 of 2,108 statewide, top 50%, 684 students, 49% FRL); Hommocks School (math 65% / reading 79%, grade A, #76 of 729 statewide, top 11%, 1,258 students, 20% FRL); Mamaroneck High School (math 95% / reading 91%, grade A+, #147 of 1,100 statewide, top 14%, 1,660 students, 23% FRL) — zoned schools average 31% FRL vs 12% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 124 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $7,083/mo this rent would consume 67% of the median local household income ($126k/yr) (locally 1152% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 117 days — a 9% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y ago; this cycle's ask has dropped $80k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $406k; list at $799k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $708,300 (11.4% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 11% 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 1933 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $713,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Waverly Ave	0.19mi	4/2.0	1,852 (+4%)	20mo	$740,000	$400	68

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 · 6.7% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-65,700
• Equity at exit: $119,133

10-year hold

• IRR: 5.8%
• Equity multiple: 1.49×
• Total profit: $110,245
• 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 10543

• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $7,083 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$498 /mo · $5,971/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,487
• Net cashflow: $575

Break-even live

Break-even rent $6,355

Max offer price $799,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,084
Total (2 units)			$7,083

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: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Halstead Ave Unit 3 Mamaroneck, NY	3.0	1.0	1500	$3,975	$2.65	43d	1	0.37mi
505 Prospect Ave Mamaroneck, NY	3.0	1.5	1500	$6,700	$4.47	13d	1	0.50mi
625 Lorraine St Mamaroneck, NY	5.0	2.0	1926	$6,300	$3.27	1d	1	0.80mi
1016 Jefferson Ave Mamaroneck, NY	3.0	1.5	1300	$4,200	$3.23	18d	1	0.93mi
658 Shore Acres Dr Mamaroneck, NY	3.0	3.5	2062	$18,000	$8.73	1d	1	0.97mi
1408 Henry Ave #2 Mamaroneck, NY	3.0	1.5	1400	$4,200	$3.00	43d	1	1.13mi
1035 Shore Acres Dr Mamaroneck, NY	4.0	3.0	1988	$9,900	$4.98	1d	1	1.16mi
9 Ferndale Pl Larchmont, NY	3.0	1.5	1349	$4,500	$3.34	16d	1	1.17mi
14 Fremont St Unit 1 Harrison, NY	3.0	2.0	1500	$4,300	$2.87	7d	1	1.23mi
29 Fremont St Unit B Harrison, NY	3.0	2.0	1330	$4,500	$3.38	43d	1	1.25mi
94 Thatcher Ave Harrison, NY	4.0	3.5	2600	$8,250	$3.17	1d	1	1.31mi
317 Hornidge Rd Mamaroneck, NY	4.0	2.0	1600	$5,500	$3.44	16d	1	1.42mi
132 Halstead Ave Unit 4D Harrison, NY	3.0	2.5	1329	$6,850	$5.15	43d	1	1.48mi

Listing history 29 events

1. 2026-04-30
   status Pending
2. 2025-06-09
   price $799,000
3. 2025-05-23
   price $829,000
4. 2025-05-08
   listed $879,000 Active
5. 2015-11-28
   historical Expired
6. 2015-11-27
   historical
7. 2015-07-30
   price
8. 2015-05-21
   listed Active
9. 2015-05-21
   listed $649,000
10. 2014-03-15
    price $406,000
11. 2012-01-31
    historical Cancelled
12. 2011-12-01
    price
13. 2011-11-02
    status Active
14. 2011-10-31
    historical
15. 2011-10-11
    price
16. 2011-08-26
    price
17. 2011-07-15
    price
18. 2011-06-22
    listed Active
19. 2011-06-20
    historical
20. 2011-05-16
    listed Active
21. 2010-08-30
    soldstatus $406,000
22. 2010-08-12
    soldstatus $406,000 Sold
23. 2010-04-19
    historical
24. 2010-04-19
    price $499,000
25. 2009-12-09
    listed $499,000 Active
26. 2009-11-27
    historical
27. 2009-05-26
    listed
28. 2009-05-25
    historical
29. 2008-11-24
    listed

ⓘ 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: $5,971 · $498/mo
• Projected year-2 tax: $9,737 · $811/mo
• Expected delta: +$3,766/yr (+$314/mo · 63.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $84,996
• − Mortgage interest: −$44,756
• − Property taxes: −$5,971
• − Insurance: −$3,995
• − Repairs & maintenance: −$6,800
• − Management: −$6,800
• − Depreciation: −$23,244
• Taxable loss: −$6,569
• Est. tax savings @ 24.0%: +$1,577
• After-tax cash flow: $8,477/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: Mamaroneck Union Free School District
• NCES district ID: 3618240
• Math proficiency: 74% ▼ -4.00%
• Reading proficiency: 81% ▲ 9.00%
• Median HH income: $111,011
• Composite: 71.4/100
• National rank: #228
• State rank: #47 of 590 in NY

Livability — Mamaroneck

• Score: 69/100
• State rank: #491
• US rank: #8656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mamaroneck, NY
• County: Westchester County · 709,332 people
• City population: 20,989
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,989
• Household income: $126,417
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 1152.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 27% Two or more races 11% Asian 5% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 2%
• Common ancestry: Russian 3% Romanian 2% Scotch-Irish 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 23% Other Indo-European 8% Other Asian/Pacific 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: ▼ -220.53%
• Current HPI: 268.4687
• Rent YoY: ▲ 6.70%
• 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

+60.1% since first listed

29 events — show timeline

• 2026-04-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Price Changed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-23 Price Changed $829,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-08 Listed $879,000 OneKey® MLS as Distributed by MLS Grid
• 2015-11-28 Delisted — HGMLS
• 2015-11-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-07-30 Price Changed — HGMLS
• 2015-05-21 Listed — HGMLS
• 2015-05-21 Listed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $406,000 HGMLS
• 2012-01-31 Delisted — HGMLS
• 2011-12-01 Price Changed — HGMLS
• 2011-11-02 Relisted — HGMLS
• 2011-10-31 Delisted — HGMLS
• 2011-10-11 Price Changed — HGMLS
• 2011-08-26 Price Changed — HGMLS
• 2011-07-15 Price Changed — HGMLS
• 2011-06-22 Listed — HGMLS
• 2011-06-20 Delisted — HGMLS
• 2011-05-16 Listed — HGMLS
• 2010-08-30 Sold (Public Records) $406,000 Public Records
• 2010-08-12 Sold (MLS) $406,000 HGMLS
• 2010-04-19 Delisted — HGMLS
• 2010-04-19 Price Changed $499,000 HGMLS
• 2009-12-09 Listed $499,000 HGMLS
• 2009-11-27 Delisted — HGMLS
• 2009-05-26 Listed — HGMLS
• 2009-05-25 Delisted — HGMLS
• 2008-11-24 Listed — HGMLS

Property tax history

-23.3%/yr

Latest (2021): $5,971 · -45.0% YoY. Source: county tax records.