240 N Fulton Ave · Mount Vernon, NY 10552

$1,150,000

9 bd · 5.1 ba · — sqft · MultiFamily · 24 Days on market

Built 1906 5,663 sqft lot

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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 +12.8/30.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 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: 3 units. confirmed

Listing remarks MLS

This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

Key facts

• Wet bar
• Raised dining area
• Sun-filled solarium

Tags

• MULTI-FAMILY COLONIAL
• RAISED DINING AREA
• WET BAR
• SUN-FILLED SOLARIUM
• ORIGINAL STAINED-GLASS WINDOWS
• FINISHED WALK-OUT BASEMENT

Property features AI

Exterior

• Parking: Covered parking; Detached garage; Driveway access; Garage (2 spaces); Private parking; Shared driveway; Alley access
• Utilities: Public sewer; No utilities listed
• Home design: Triplex
• Construction: Other construction materials; Other foundation
• Exterior features: Not on waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bath; Built-in features; Dry bar; Eat-in kitchen; Formal dining room; Natural woodwork; Original details
• Laundry & utility: Finished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative. Per door: $-37/mo.
• To cash-flow at today's rent, offer at most $1.13M (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.01M (12.3% below list).
• Recommended offer: $1.01M (12.3% below list) — sets the bar for 1% rule.

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: Lincoln School (math 32% / reading 62%, grade D-, #1,195 of 2,108 statewide, top 60%, 498 students, 65% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Zoned-school proficiency averages 56% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Mount Vernon School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.0%/yr); 125 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $10,091/mo this rent would consume 125% of the median local household income ($97k/yr) (locally 652% 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 $8k of loan paydown is wiped out by about $34k 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 24 days — a 2% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 3 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 $495k; list at $1.15M implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $1,009,100 (12.3% 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. 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 1906 — 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. 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?
7. 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?
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: 0.88% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

No comps found within radius.

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 Summit Ave	0.09mi	8/6.0 (-1)	6,820	1mo	$982,400	$144	74
115 Primrose Ave	0.24mi	9/3.0	4,964	2mo	$940,000	$189	66
53 Rich Ave	0.34mi	9/6.0	—	4mo	$1,275,000	—	65
214 E Prospect Ave	0.43mi	10/5.0 (+1)	—	3mo	$960,000	—	60
140 Park Ave	0.32mi	8/3.0 (-1)	3,200	15mo	$899,000	$281	46
12 Martens Pl	0.69mi	8/3.0 (-1)	—	0mo	$825,000	—	42
47 N Columbus Ave	0.55mi	8/3.0 (-1)	3,480	9mo	$910,000	$261	41
176 Elm Ave	0.51mi	8/2.0 (-1)	3,850	7mo	$675,000	$175	41
136 Park Ave	0.33mi	8/8.0 (-1)	6,000	22mo	$825,000	$138	37
120 N 8th Ave	0.64mi	8/6.0 (-1)	3,600	16mo	$955,000	$265	35
53 Adams St	0.67mi	9/3.0	3,485	20mo	$775,000	$222	32

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 · 7.04% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.53×
• Total profit: $-150,571
• Equity at exit: $171,469

10-year hold

• IRR: 1.9%
• Equity multiple: 1.16×
• Total profit: $51,033
• Equity at exit: $99,431

Cash invested: $322,000 (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 10552

• Rents YoY: 7.0%
• Active inventory: 125
• Price-to-rent: 28.5×

Monthly cashflow live

• Estimated rent: $10,091 high
• Mortgage (P&I): −$6,031
• Tax from tax record: −$1,574 /mo · $18,890/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,119
• Net cashflow: $-112

Break-even live

Break-even rent $10,233

Max offer price $1,130,191

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$10,092
Total (3 units)			$10,091

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,150,000 Active 24 DOM
2. 2026-06-17
   days on market $1,150,000 Active 23 DOM
3. 2026-06-16
   days on market $1,150,000 Active 22 DOM
4. 2026-06-15
   days on market $1,150,000 Active 21 DOM
5. 2026-06-13
   days on market $1,150,000 Active 19 DOM
6. 2026-06-09
   days on market $1,150,000 Active 15 DOM
7. 2026-06-08
   days on market $1,150,000 Active 14 DOM
8. 2026-06-07
   days on market $1,150,000 Active 13 DOM
9. 2026-06-04
   days on market $1,150,000 Active 10 DOM
10. 2026-06-03
    days on market $1,150,000 Active 9 DOM
11. 2026-06-02
    days on market $1,150,000 Active 8 DOM
12. 2026-06-01
    days on market $1,150,000 Active 7 DOM
13. 2026-05-31
    days on market $1,150,000 Active 6 DOM
14. 2026-05-23
    listed $1,150,000 Active
15. 2025-12-08
    listed $999,999 Active
16. 2014-03-15
    price $495,000 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

17. 2011-12-16
    soldstatus $495,000
18. 2011-11-10
    soldstatus $495,000 Sold 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

19. 2011-11-01
    historical 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

20. 2011-09-09
    historical Pending 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

21. 2011-09-09
    price $499,900 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

22. 2011-08-01
    price $499,900 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

23. 2011-07-18
    listed $525,000 Active 524-char remark

    Show marketing remark (524 chars)

    This legal 2 family home has the WOW factor!! All rooms are oversized & duplex apartment is actually a 5 bedroom apartment, Modern eat in kitchen w/ pantry, laundry area, formal step up dining room w/ wet bar & glassed sun porch, powder room & 3 full baths. The 1st floor apartment features updated kitchen, dinette, oversized livingroom, 3 full bedrooms and two baths. House has one common driveway & o1 private driveway with 2 car garage. The full high ceiling walk out basement is partial finished

ⓘ 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: $18,890 · $1,574/mo
• Projected year-2 tax: $19,162 · $1,597/mo
• Expected delta: +$273/yr (+$23/mo · 1.4%)

ⓘ 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 · 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: $121,092
• − Mortgage interest: −$64,418
• − Property taxes: −$18,890
• − Insurance: −$5,750
• − Repairs & maintenance: −$9,687
• − Management: −$9,687
• − Depreciation: −$33,455
• Taxable loss: −$20,795
• Est. tax savings @ 24.0%: +$4,991
• After-tax cash flow: $3,645/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): 22,341
• Household income: $96,717
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 652.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 39% White 31% Hispanic / Latino 17% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Russian 2% Estonian 2% Hispanic 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 7% 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: ▼ -393.94%
• Current HPI: 244.3166
• Rent YoY: ▲ 7.04%
• 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

+119.0% since first listed

10 events — show timeline

• 2026-05-23 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-08 Listed $999,999 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $495,000 HGMLS
• 2011-12-16 Sold (Public Records) $495,000 Public Records
• 2011-11-10 Sold (MLS) $495,000 HGMLS
• 2011-11-01 Delisted — HGMLS
• 2011-09-09 Contingent — HGMLS
• 2011-09-09 Price Changed $499,900 HGMLS
• 2011-08-01 Price Changed $499,900 HGMLS
• 2011-07-18 Listed $525,000 HGMLS

Property tax history

+3.6%/yr

Latest (2025): $18,890 · +3.2% YoY. Source: county tax records.