124 S 11th Ave · Mount Vernon, NY 10550

$690,000

5 bd · 4.0 ba · — sqft · MultiFamily · 45 Days on market

Built 1910 3,485 sqft lot

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Why this score? — see what drove the C 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.1/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Tremendous investment opportunity in the heart of Mount Vernon. This well-maintained three-unit property at 124 S 11th Ave features a total of 3 units first floor a spacious 2-bedroom/1-bathroom, second floor a recently updated 2 bedroom 2 bathroom and the third floor a one 1-bedroom/1-bathroom unit. Designed for easy management, the home boasts independent heating systems and hot water tanks for every apartment. With four electric meters (including a house meter) and three gas meters, tenants pay their own utilities. The property also includes a private driveway with parking for two vehicles. Schedule your appointment today to explore the incredible income potential!

Key facts

• Income potential
• Private driveway
• Well maintained

Tags

• WELL MAINTAINED
• INDEPENDENT HEATING SYSTEMS
• PRIVATE DRIVEWAY
• PARKING FOR TWO VEHICLES
• INCOME POTENTIAL

Property features AI

Exterior

• Parking: Driveway with parking for 2 vehicles; No carport
• Security: Other security features
• Utilities: Con-Edison electric service; Public sewer; Water connected and available; Natural gas connected and available; Electricity connected and available; Cable available and connected; Trash collection (public)
• Home design: Triplex; Property condition: Actual
• Construction: Other construction materials; Other foundation details; No other structures listed; Not waterfront
• Exterior features: No notable exterior features listed; Front yard, partial and perimeter fencing

Interior

• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Combination flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating (natural gas); Wall/window air conditioning units
• Interior features: Entrance foyer; Covered patio/porch

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $690k).
• Recommended offer: $669k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.3% in Mount Vernon — 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 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: Grimes School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 411 students, 78% FRL); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $7,673/mo this rent would consume 152% 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 $5k of loan paydown is wiped out by about $21k 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 45 days — a 3% lower offer ($669k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 29y 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 $80k; list at $690k implies a 762% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $669,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 7.5

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 S 7th Ave	0.21mi	5/3.0	2,200	0mo	$445,000	$202	73
4824 Robertson St	0.41mi	4/— (-1)	1,975	2mo	$815,000	$413	62
679 E 241st St	0.48mi	5/2.0	2,124	1mo	$800,000	$377	56
14 S Terrace Ave	0.47mi	5/2.0	—	2mo	$685,000	—	56
28 Grove St	0.41mi	6/2.0 (+1)	—	1mo	$600,000	—	54
2028 Pitman Ave	0.69mi	5/3.0	1,824	2mo	$770,000	$422	50
4331 Wilder Ave	0.61mi	5/2.0	1,574	2mo	$803,000	$510	50
350 S 2nd Ave	0.62mi	4/3.0 (-1)	2,178	2mo	$465,000	$213	48
58 Oak St	0.56mi	4/2.0 (-1)	2,094	4mo	$595,000	$284	46
132 East 4th St	0.72mi	6/2.0 (+1)	2,800	0mo	$700,000	$250	41
128 E 4th St	0.71mi	6/2.0 (+1)	—	2mo	$770,000	—	40
507 S 6th Ave	0.71mi	4/2.0 (-1)	1,674	4mo	$349,900	$209	38

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-40,211
• Equity at exit: $102,881

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $66,035
• Equity at exit: $59,659

Cash invested: $193,200 (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: 21.7×

Monthly cashflow live

• Estimated rent: $7,673 high
• Mortgage (P&I): −$3,618
• Tax from tax record: −$1,080 /mo · $12,966/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,611
• Net cashflow: $1,075

Break-even live

Break-even rent $6,312

Max offer price $690,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,306
1× unit	1	1	$2,366
Total (3 units)			$7,673

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 S 7th Ave Mount Vernon, NY	5.0	2.0	1000	$4,800	$4.80	24d	1	0.40mi
142 W 5th St Mount Vernon, NY	6.0	2.0	1250	$3,756	$3.00	18d	1	0.49mi
16 Sherwood Ave Yonkers, NY	4.0	1.0	—	$3,711	—	43d	1	0.69mi
33 Union Ln Mount Vernon, NY	5.0	1.0	1200	$4,200	$3.50	24d	1	0.79mi
33 Union Ln Unit 2 Mt Vernon, NY	5.0	1.0	—	$4,000	—	24d	1	0.79mi
218 Washington St Unit 2 Mt Vernon, NY	4.0	2.0	950	$3,900	$4.11	24d	1	0.84mi
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	4d	1	0.99mi
222 Primrose Ave Unit 2 Mt Vernon, NY	5.0	2.0	1900	$5,250	$2.76	18d	1	1.19mi

Listing history 32 events

1. 2026-06-18
   days on market $690,000 Active 45 DOM
2. 2026-06-17
   days on market $690,000 Active 44 DOM
3. 2026-06-16
   days on market $690,000 Active 43 DOM
4. 2026-06-15
   days on market $690,000 Active 42 DOM
5. 2026-06-13
   days on market $690,000 Active 40 DOM
6. 2026-06-10
   remarks 676-char remark
7. 2026-06-09
   days on market $690,000 Active 36 DOM
8. 2026-06-08
   days on market $690,000 Active 35 DOM
9. 2026-06-07
   days on market $690,000 Active 34 DOM
10. 2026-06-04
    days on market $690,000 Active 31 DOM
11. 2026-06-03
    days on market $690,000 Active 30 DOM
12. 2026-06-02
    days on market $690,000 Active 29 DOM
13. 2026-06-01
    days on market $690,000 Active 28 DOM
14. 2026-05-31
    days on market $690,000 Active 27 DOM
15. 2026-05-14
    price $690,000
16. 2026-05-04
    listed $724,900 Active
17. 2024-04-23
    historical $2,100
18. 2024-02-23
    listed $2,100
19. 2022-03-18
    historical
20. 2022-03-16
    price $749,900
21. 2021-02-08
    listed $674,900 Active
22. 2019-11-18
    historical
23. 2019-09-03
    listed $624,900 Active
24. 2017-07-23
    soldstatus $80,000 Sold
25. 2016-11-19
    price $79,900
26. 2016-08-05
    historical Pending
27. 2016-07-22
    listed $94,900 Active
28. 1998-09-29
    soldstatus $105,000
29. 1998-08-11
    soldstatus $105,000
30. 1998-08-11
    price $129,500
31. 1998-04-01
    listed
32. 1997-08-06
    listed $105,000

ⓘ 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: $12,966 · $1,080/mo
• Projected year-2 tax: $12,966 · $1,080/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 · 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: $92,076
• − Mortgage interest: −$38,651
• − Property taxes: −$12,966
• − Insurance: −$3,450
• − Repairs & maintenance: −$7,366
• − Management: −$7,366
• − Depreciation: −$20,073
• Taxable income: $2,204
• Est. tax owed @ 24.0%: −$529
• After-tax cash flow: $12,374/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

+557.1% since first listed

18 events — show timeline

• 2026-05-14 Price Changed $690,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Listed $724,900 OneKey® MLS as Distributed by MLS Grid
• 2024-04-23 Rental Removed $2,100 ONEKEY
• 2024-02-23 Listed for Rent $2,100 ONEKEY
• 2022-03-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-03-16 Price Changed $749,900 OneKey® MLS as Distributed by MLS Grid
• 2021-02-08 Listed $674,900 OneKey® MLS as Distributed by MLS Grid
• 2019-11-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-03 Listed $624,900 OneKey® MLS as Distributed by MLS Grid
• 2017-07-23 Sold (MLS) $80,000 OneKey® MLS as Distributed by MLS Grid
• 2016-11-19 Price Changed $79,900 OneKey® MLS as Distributed by MLS Grid
• 2016-08-05 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2016-07-22 Listed $94,900 OneKey® MLS as Distributed by MLS Grid
• 1998-09-29 Sold (Public Records) $105,000 Public Records
• 1998-08-11 Price Changed $129,500 HGMLS
• 1998-08-11 Sold (MLS) $105,000 HGMLS
• 1998-04-01 Listed — HGMLS
• 1997-08-06 Listed $105,000 HGMLS

Property tax history

+2.2%/yr

Latest (2025): $12,966 · +2.1% YoY. Source: county tax records.