332 Walnut St · Yonkers, NY 10701

$499,999

8 bd · 6.0 ba · 2,940 sqft · MultiFamily · 49 Days on market

Built 1935 1,742 sqft lot $170/sqft · 63% below area ↓ 15% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• 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

Mixed Use Multi Family Building with Income producing fully operational Laundromat. Both units renting under market value! Two off street parking spaces included. Seller supplies heat for the building. Tenants pay their own electric & cooking gas. Separate water, gas and electric meters for business***CASH OFFERS ONLY***Property needs Work. Sold As Is.

Key facts

• 1,742 sq ft lot
• 2 parking spots
• Built 1935

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Two parking spaces; Attached parking; On-street parking; Parking lot; Private parking
• Security: Other security features
• Utilities: Con-Edison electric; Public sewer; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Trash collection (public); Water available; See remarks for additional utility details
• Home design: Triplex; Property condition: Fixer
• Construction: Frame construction; Concrete perimeter foundation
• Exterior features: Other exterior features; Corner lot; Level lot; Back yard fencing (partial vinyl); Shed(s)

Interior

• Bedrooms: Two 3-bedroom units
• Bathrooms: Six full bathrooms
• Heating & cooling: No central cooling; Heating: Other (see remarks)
• Interior features: Beamed ceilings; Other interior features
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $500k).
• Recommended offer: $485k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 5.3% in Yonkers — 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 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Yonkers Early Childhood Academy (327 students, 72% FRL); Yonkers Middle School (math 17% / reading 37%, grade F, #587 of 729 statewide, top 81%, 601 students, 88% FRL); Yonkers High School (math 92% / reading 88%, grade A+, #238 of 1,100 statewide, top 23%, 1,060 students, 76% FRL) — zoned schools average 79% FRL vs 64% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 183 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $6,910/mo this rent would consume 128% of the median local household income ($65k/yr) (locally 6045% 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 $3k of loan paydown is wiped out by about $15k 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 + 4.4% rent growth), your $140k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $267k; list at $500k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $484,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.38% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $1,341,852
• List price: $499,999
• Delta: -62.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
198 Elm St	0.07mi	9/3.0 (+1)	2,772 (-6%)	19mo	$665,000	$240	55
83 Alta Ave	0.71mi	8/—	3,200 (+9%)	4mo	$825,000	$258	49
9 Van Buren St	0.24mi	9/3.0 (+1)	2,763 (-6%)	16mo	$655,000	$237	48
156 Beech St	0.28mi	8/3.0	2,526 (-14%)	8mo	$825,000	$327	45
43 Oak St	0.16mi	9/3.0 (+1)	3,287 (+12%)	17mo	$800,000	$243	42
59 Park Hill Ave	0.41mi	9/4.0 (+1)	3,240 (+10%)	11mo	$899,000	$277	41

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 · 4.39% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.40×
• Total profit: $56,486
• Equity at exit: $74,551

10-year hold

• IRR: 20.3%
• Equity multiple: 2.82×
• Total profit: $255,282
• Equity at exit: $43,231

Cash invested: $140,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10701

• Rents YoY: 4.4%
• Active inventory: 183
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $6,910 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,451
• Net cashflow: $2,004

Break-even live

Break-even rent $4,374

Max offer price $499,999

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$6,910
Total (2 units)			$6,910

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $499,999 Active 49 DOM
2. 2026-06-17
   days on market $499,999 Active 48 DOM
3. 2026-06-16
   days on market $499,999 Active 47 DOM
4. 2026-06-15
   days on market $499,999 Active 46 DOM
5. 2026-06-13
   days on market $499,999 Active 44 DOM
6. 2026-06-09
   days on market $499,999 Active 40 DOM
7. 2026-06-08
   days on market $499,999 Active 39 DOM
8. 2026-06-07
   days on market $499,999 Active 38 DOM
9. 2026-06-04
   days on market $499,999 Active 35 DOM
10. 2026-06-03
    days on market $499,999 Active 34 DOM
11. 2026-06-02
    days on market $499,999 Active 33 DOM
12. 2026-06-01
    days on market $499,999 Active 32 DOM
13. 2026-05-31
    days on market $499,999 Active 31 DOM
14. 2026-05-01
    listed $499,999 Active 2427-char remark
15. 2026-05-01
    historical $499,999 2427-char remark
16. 2018-08-17
    historical
17. 2018-08-15
    listed $824,999 Active
18. 2017-12-14
    soldstatus $266,689 Sold

    Show marketing remark (359 chars)

    Mixed Use Multi Family Building with Income producing fully operational Laundromat. Both units renting under market value! Two off street parking spaces included. Seller supplies heat for the building. Tenants pay their own electric & cooking gas. Separate water, gas and electric meters for business***CASH OFFERS ONLY***Property needs Work. Sold As Is.

19. 2017-11-08
    historical Pending

    Show marketing remark (359 chars)

    Mixed Use Multi Family Building with Income producing fully operational Laundromat. Both units renting under market value! Two off street parking spaces included. Seller supplies heat for the building. Tenants pay their own electric & cooking gas. Separate water, gas and electric meters for business***CASH OFFERS ONLY***Property needs Work. Sold As Is.

20. 2017-09-05
    listed $375,000 Active

    Show marketing remark (359 chars)

    Mixed Use Multi Family Building with Income producing fully operational Laundromat. Both units renting under market value! Two off street parking spaces included. Seller supplies heat for the building. Tenants pay their own electric & cooking gas. Separate water, gas and electric meters for business***CASH OFFERS ONLY***Property needs Work. Sold As Is.

21. 2017-09-01
    historical
22. 2017-06-09
    listed $429,000 Active
23. 2017-04-27
    historical
24. 2017-04-19
    listed $589,000 Active

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

Taxation est. · year 1

• Rental income: $82,920
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,634
• − Management: −$6,634
• − Depreciation: −$14,545
• Taxable income: $17,100
• Est. tax owed @ 24.0%: −$4,104
• After-tax cash flow: $19,938/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: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

Amenities F Commute B 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: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 70,676
• Household income: $64,776
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6045.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 21% Black 21% Two or more races 18% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 9% Dominican 19%
• Common ancestry: Romanian 1% Russian 1% Subsaharan African 1%
• Foreign-born: 35% · Canada, Jamaica, South Korea
• Languages at home: 45% English-only · Spanish 42% Other Indo-European 3% Arabic 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: ▼ -373.14%
• Current HPI: 332.0999
• Rent YoY: ▲ 4.39%
• 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

-15.1% since first listed

11 events — show timeline

• 2026-05-01 Listed $499,999 OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon $499,999 OneKey® MLS as Distributed by MLS Grid
• 2018-08-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-08-15 Listed $824,999 OneKey® MLS as Distributed by MLS Grid
• 2017-12-14 Sold (MLS) $266,689 OneKey® MLS as Distributed by MLS Grid
• 2017-11-08 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-09-05 Listed $375,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-06-09 Listed $429,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-27 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-04-19 Listed $589,000 OneKey® MLS as Distributed by MLS Grid