118 Prospect St · Port Chester, NY 10573

$999,000

5 bd · 3.0 ba · 2,677 sqft · MultiFamily public records · 6 Days on market

Built 1930 5,814 sqft lot Est $878k · 14% over

---

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 +18.2/30.0
• DSCR +5.7/10.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Stucco 3 family home well maintained, each floor has a back porch. It originally was built with eat in kitchen, dining room, 2 bedroom and bath on the first and second floor, for many years the dining room off living room is used as a third bedroom. Third floor is a nice size one bedroom, living room, eat in kitchen, bath and porch. It presents a well maintained stucco exterior all white, covered front porch and detached 2 car garage. Priced to sell. Showing Tuesday 4PM to 6PM and Thursday 4PM to 6PM Highest and Best by Thursday evening Additional Information: Amenities:Storage,ParkingFeatures:2 Car Detached,

Key facts

• Private rear porch
• Strong curb appeal
• Well-kept interiors

Tags

• THREE LEGAL RENTAL UNITS
• PRIVATE REAR PORCH
• DURABLE STUCCO EXTERIOR
• STRONG CURB APPEAL
• GENEROUS NATURAL LIGHT
• WELL-KEPT INTERIORS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $895 ($11k/yr) — positive. Per door: $298/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $999k).
• Cap rate 7.4% vs local median 4.3% in Port Chester — 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 73/100 on livability (#315 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A; Watch: amenities D, cost of living F.
• Port Chester-Rye Union Free School District (suburban): math 44% / reading 49% proficiency, ranked #428 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Port Chester Middle School (math 20% / reading 43%, grade F, #522 of 729 statewide, top 73%, 971 students, 75% FRL); Port Chester Senior High School (math 88% / reading 92%, grade A+, #238 of 1,100 statewide, top 23%, 1,555 students, 73% FRL) — zoned schools average 74% FRL vs 57% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 61% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Port Chester-Rye Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.7%/yr); 144 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $10,122/mo this rent would consume 115% of the median local household income ($106k/yr) (locally 1362% 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 $7k of loan paydown is wiped out by about $30k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% 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 $999,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $878,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Prospect St	0.00mi	5/3.0	2,677 (0%)	1mo	$1,055,000	$394	99
76 Haseco Ave	0.46mi	5/4.0	2,699 (+1%)	12mo	$895,000	$332	63
111 Washington St	0.18mi	6/3.0 (+1)	3,012 (+12%)	5mo	$745,000	$247	62
24 Park Pl	0.29mi	4/2.0 (-1)	2,935 (+10%)	5mo	$880,000	$300	58
114 Washington St	0.14mi	6/4.0 (+1)	3,036 (+13%)	5mo	$960,000	$316	58
244 South Ridge St	0.38mi	6/3.0 (+1)	2,925 (+9%)	6mo	$960,000	$328	57
124 N Regent St	0.59mi	5/2.0	2,774 (+4%)	10mo	$821,000	$296	54
25-27 Exchange Pl #25	0.34mi	6/4.0 (+1)	2,932 (+10%)	6mo	$1,156,000	$394	54
442 Westchester Ave	0.30mi	5/3.0	2,386 (-11%)	20mo	$650,000	$272	51
19 Westview Ave	0.47mi	5/4.0	2,419 (-10%)	9mo	$925,000	$382	50
130-132 Fairview Ave Unit 130- 132	0.56mi	4/2.0 (-1)	2,592 (-3%)	12mo	$904,000	$349	50
61 Haseco Ave	0.44mi	4/3.0 (-1)	2,348 (-12%)	6mo	$699,000	$298	49

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.52×
• Total profit: $-134,266
• Equity at exit: $148,954

10-year hold

• IRR: -10.8%
• Equity multiple: 0.44×
• Total profit: $-157,038
• Equity at exit: $86,375

Cash invested: $279,720 (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 10573

• Rents YoY: -1.7%
• Active inventory: 144
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $10,122 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$1,446 /mo · $17,355/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,126
• Net cashflow: $895

Break-even live

Break-even rent $8,989

Max offer price $999,000

Occupancy floor 86%

Sensitivity live

Price	-10% $1,461	-5% $1,178	+0% $895	+5% $612	+10% $330
Rent	-10% $95	-5% $495	+0% $895	+5% $1,295	+10% $1,695
Rate	-1.0pp $1,398	-0.5pp $1,149	base $895	+0.5pp $636	+1.0pp $373

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$10,122
Total (3 units)			$10,122

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Olivia St Apt 1 Port Chester, NY	4.0	3.0	2040	$4,500	$2.21	45d	1	0.10mi
195 S Water St Greenwich, CT	5.0	4.5	3000	$9,500	$3.17	0d	1	0.85mi
10 Prospect St W Greenwich, CT	4.0	2.0	1784	$7,495	$4.20	0d	1	0.89mi
6 Club Rd Rye, NY	4.0	3.5	3502	$18,000	$5.14	45d	1	1.34mi
42 Tower Hill Dr Port Chester, NY	4.0	1.5	1864	$5,100	$2.74	45d	1	1.44mi

Listing history 6 events

1. 2026-03-30
   status Pending
2. 2026-03-05
   listed $999,000 Active
3. 2024-11-19
   soldstatus $885,000 Closed 621-char remark

   Show marketing remark (621 chars)

   Stucco 3 family home well maintained, each floor has a back porch. It originally was built with eat in kitchen, dining room, 2 bedroom and bath on the first and second floor, for many years the dining room off living room is used as a third bedroom. Third floor is a nice size one bedroom, living room, eat in kitchen, bath and porch. It presents a well maintained stucco exterior all white, covered front porch and detached 2 car garage. Priced to sell. Showing Tuesday 4PM to 6PM and Thursday 4PM to 6PM Highest and Best by Thursday evening Additional Information: Amenities:Storage,ParkingFeatures:2 Car Detached,

4. 2024-11-14
   soldstatus $885,000
5. 2024-10-07
   status Pending 621-char remark

   Show marketing remark (621 chars)

   Stucco 3 family home well maintained, each floor has a back porch. It originally was built with eat in kitchen, dining room, 2 bedroom and bath on the first and second floor, for many years the dining room off living room is used as a third bedroom. Third floor is a nice size one bedroom, living room, eat in kitchen, bath and porch. It presents a well maintained stucco exterior all white, covered front porch and detached 2 car garage. Priced to sell. Showing Tuesday 4PM to 6PM and Thursday 4PM to 6PM Highest and Best by Thursday evening Additional Information: Amenities:Storage,ParkingFeatures:2 Car Detached,

6. 2024-08-24
   listed $869,000 Active 621-char remark

   Show marketing remark (621 chars)

   Stucco 3 family home well maintained, each floor has a back porch. It originally was built with eat in kitchen, dining room, 2 bedroom and bath on the first and second floor, for many years the dining room off living room is used as a third bedroom. Third floor is a nice size one bedroom, living room, eat in kitchen, bath and porch. It presents a well maintained stucco exterior all white, covered front porch and detached 2 car garage. Priced to sell. Showing Tuesday 4PM to 6PM and Thursday 4PM to 6PM Highest and Best by Thursday evening Additional Information: Amenities:Storage,ParkingFeatures:2 Car Detached,

ⓘ 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: $17,355 · $1,446/mo
• Projected year-2 tax: $17,355 · $1,446/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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $121,464
• − Mortgage interest: −$55,960
• − Property taxes: −$17,355
• − Insurance: −$4,995
• − Repairs & maintenance: −$9,717
• − Management: −$9,717
• − Depreciation: −$29,062
• Taxable loss: −$5,341
• Est. tax savings @ 24.0%: +$1,282
• After-tax cash flow: $12,022/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: Port Chester-Rye Union Free School District
• NCES district ID: 3623460
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $58,362
• Composite: 40.67/100
• National rank: #3676
• State rank: #428 of 590 in NY

Livability — Port Chester

• Score: 73/100
• State rank: #315
• US rank: #5245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Chester, NY
• County: Westchester County · 709,332 people
• City population: 40,786
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,786
• Household income: $105,686
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1362.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 37% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 41% Other Indo-European 5% Chinese 1%

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: ▼ -389.46%
• Current HPI: 258.9227
• Rent YoY: ▼ -1.70%
• 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

+15.0% since first listed

6 events — show timeline

• 2026-03-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-19 Sold (MLS) $885,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-14 Sold (Public Records) $885,000 Public Records
• 2024-10-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-08-24 Listed $869,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $17,355 · +11.6% YoY. Source: county tax records.