548 S 8th Ave · Mount Vernon, NY 10550

$550,000

4 bd · 2.0 ba · 1,800 sqft · MultiFamily · 101 Days on market

Built 1900 2,614 sqft lot Est $740k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• 1% rule +4.5/10.0
• DSCR +3.9/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 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 MLS

Home being sold as is....All information must be verified by buyers.

Key facts

• Modern layouts
• Granite countertops
• Hardwood floors

Tags

• GRANITE COUNTERTOPS
• HARDWOOD FLOORS
• MODERN LAYOUTS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Water connected
• Home design: Duplex; Actual condition
• Construction: Concrete perimeter foundation
• Exterior features: Vinyl siding; Not waterfront; No additional parcels

Interior

• Bedrooms: Two 2-bedroom units
• Flooring: Wood floors
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Oil heating; Other heating; No central cooling
• Interior features: Other interior features
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $-30 ($-363/yr) — negative. Per door: $-15/mo.
• To cash-flow at today's rent, offer at most $545k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $524k (4.8% below list).
• Recommended offer: $500k (9.0% 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: Rebecca Turner Elementary School (math 54% / reading 74%, grade B, #591 of 2,108 statewide, top 31%, 218 students, 70% FRL); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Denzel Washington School-Arts (math 57% / reading 84%, grade B+, #701 of 1,100 statewide, top 64%, 383 students, 58% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $5,235/mo this rent would consume 103% of the median local household income ($61k/yr) (locally 2963% 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 $4k of loan paydown is wiped out by about $16k 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 101 days — a 9% lower offer ($500k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y 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 $158k; list at $550k implies a 249% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $500,500 (9.0% 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 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.95% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $739,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 S 6th Ave	0.16mi	4/2.0	1,674 (-7%)	4mo	$349,900	$209	78
2028 Pitman Ave	0.42mi	5/3.0 (+1)	1,824 (+1%)	2mo	$770,000	$422	68
557 S 5th Ave	0.18mi	5/2.0 (+1)	1,975 (+10%)	4mo	$450,000	$228	67
4252 Monticello Ave	0.24mi	4/3.0	1,946 (+8%)	9mo	$800,000	$411	64
4228 Murdock Ave	0.33mi	4/3.5	1,921 (+7%)	10mo	$760,000	$396	59
3965 Duryea Ave	0.40mi	5/2.0 (+1)	1,944 (+8%)	6mo	$865,000	$445	58
2181 Strang Ave	0.36mi	3/2.0 (-1)	1,997 (+11%)	4mo	$735,000	$368	57
4331 Wilder Ave	0.43mi	5/2.0 (+1)	1,574 (-13%)	2mo	$803,000	$510	53
4088 Grace Ave	0.59mi	3/3.0 (-1)	1,920 (+7%)	2mo	$715,000	$372	51
4167 Wilder Ave	0.39mi	3/2.0 (-1)	2,000 (+11%)	11mo	$720,000	$360	49
4152 Wickham Ave	0.70mi	5/2.0 (+1)	1,890 (+5%)	10mo	$880,000	$466	46
4163 Wickham Ave	0.73mi	5/3.0 (+1)	1,680 (-7%)	4mo	$925,000	$551	42

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-88,788
• Equity at exit: $82,007

10-year hold

• IRR: -7.0%
• Equity multiple: 0.54×
• Total profit: $-70,474
• Equity at exit: $47,554

Cash invested: $154,000 (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 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $5,235 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$1,052 /mo · $12,629/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,099
• Net cashflow: $-30

Break-even live

Break-even rent $5,273

Max offer price $544,663

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,234
Total (2 units)			$5,235

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: $137,500
• Closing costs: $16,500
• 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	0.15mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	4d	1	0.25mi
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	4d	1	0.25mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	1.02mi
70 Elm Ave Unit Right Mt Vernon, NY	3.0	2.5	1800	$4,000	$2.22	4d	1	1.09mi
65 Hunts Bridge Rd Yonkers, NY	3.0	1.0	1600	$3,500	$2.19	14d	1	1.48mi

Listing history 46 events

1. 2026-06-18
   days on market $550,000 Active 101 DOM
2. 2026-06-17
   days on market $550,000 Active 100 DOM
3. 2026-06-16
   days on market $550,000 Active 99 DOM
4. 2026-06-15
   days on market $550,000 Active 98 DOM
5. 2026-06-13
   days on market $550,000 Active 96 DOM
6. 2026-06-09
   days on market $550,000 Active 92 DOM
7. 2026-06-08
   days on market $550,000 Active 91 DOM
8. 2026-06-07
   days on market $550,000 Active 90 DOM
9. 2026-06-04
   days on market $550,000 Active 87 DOM
10. 2026-06-03
    days on market $550,000 Active 86 DOM
11. 2026-06-02
    days on market $550,000 Active 85 DOM
12. 2026-06-01
    days on market $550,000 Active 84 DOM
13. 2026-05-31
    days on market $550,000 Active 83 DOM
14. 2026-04-12
    status Active
15. 2026-02-19
    listed $550,000 Active
16. 2020-03-27
    status Pending
17. 2019-06-05
    status Pending
18. 2019-06-04
    historical
19. 2019-04-12
    listed $449,000 Active
20. 2017-12-29
    soldstatus $157,500 Sold 68-char remark

    Show marketing remark (68 chars)

    Home being sold as is....All information must be verified by buyers.

21. 2017-08-08
    historical Pending 68-char remark

    Show marketing remark (68 chars)

    Home being sold as is....All information must be verified by buyers.

22. 2017-07-21
    listed $159,900 Active 68-char remark

    Show marketing remark (68 chars)

    Home being sold as is....All information must be verified by buyers.

23. 2017-04-14
    soldstatus $212,997
24. 2016-12-28
    historical Expired
25. 2016-04-30
    historical
26. 2015-12-29
    historical Pending
27. 2015-11-25
    price
28. 2015-04-21
    status Active
29. 2015-03-30
    historical Pending
30. 2015-01-26
    price
31. 2014-09-04
    price Active
32. 2014-09-04
    status Active
33. 2014-06-03
    historical Pending
34. 2014-06-03
    price
35. 2014-04-18
    price
36. 2014-01-29
    listed Active
37. 2014-01-28
    listed $125,000
38. 2013-08-01
    historical
39. 2012-12-11
    price Active
40. 2012-12-11
    status Active
41. 2012-10-30
    historical Pending
42. 2011-07-20
    price
43. 2011-01-28
    listed Active
44. 2000-07-06
    soldstatus $110,000
45. 1999-07-26
    soldstatus $105,000
46. 1991-01-24
    soldstatus $110,000

ⓘ 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: $12,629 · $1,052/mo
• Projected year-2 tax: $12,629 · $1,052/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°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: $62,820
• − Mortgage interest: −$30,809
• − Property taxes: −$12,629
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,026
• − Management: −$5,026
• − Depreciation: −$16,000
• Taxable loss: −$9,419
• Est. tax savings @ 24.0%: +$2,261
• After-tax cash flow: $1,898/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): 38,972
• Household income: $60,701
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 2963.0

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: Predominantly Black (66%)
• Race & ethnicity: Black 66% Hispanic / Latino 20% Two or more races 12% White 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Estonian 2% Hispanic 1% Russian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 4% 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: ▼ -140.69%
• Current HPI: 191.5235
• Rent YoY: ▲ 3.37%
• 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

+400.0% since first listed

33 events — show timeline

• 2026-04-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-06-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-06-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-04-12 Listed $449,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-29 Sold (MLS) $157,500 OneKey® MLS as Distributed by MLS Grid
• 2017-08-08 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-07-21 Listed $159,900 OneKey® MLS as Distributed by MLS Grid
• 2017-04-14 Sold (Public Records) $212,997 Public Records
• 2016-12-28 Delisted — HGMLS
• 2016-04-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-12-29 Contingent — HGMLS
• 2015-11-25 Price Changed — HGMLS
• 2015-04-21 Relisted — HGMLS
• 2015-03-30 Contingent — HGMLS
• 2015-01-26 Price Changed — HGMLS
• 2014-09-04 Relisted — HGMLS
• 2014-09-04 Price Changed — HGMLS
• 2014-06-03 Price Changed — HGMLS
• 2014-06-03 Contingent — HGMLS
• 2014-04-18 Price Changed — HGMLS
• 2014-01-29 Listed — HGMLS
• 2014-01-28 Listed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2013-08-01 Delisted — HGMLS
• 2012-12-11 Relisted — HGMLS
• 2012-12-11 Price Changed — HGMLS
• 2012-10-30 Contingent — HGMLS
• 2011-07-20 Price Changed — HGMLS
• 2011-01-28 Listed — HGMLS
• 2000-07-06 Sold (Public Records) $110,000 Public Records
• 1999-07-26 Sold (Public Records) $105,000 Public Records
• 1991-01-24 Sold (Public Records) $110,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $12,629 · +2.1% YoY. Source: county tax records.