17 Lamartine Ave · Yonkers, NY 10701

$875,000

24 bd · 16.0 ba · 2,552 sqft · MultiFamily · 234 Days on market

Built 1905 2,614 sqft lot

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• 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: 4 units. confirmed

Listing remarks MLS

A Contractors Dream! House Needs Work (Price Already Reflects Condition Of Property)! A Real Money Maker! House Is Currently Set Up As A 3 Family (1st Floor Tenant Occupies Basement/Walk In Apt Also)! There Are Currently Tenants Occupying The 2nd Fl & 3rd Fl Units Also. There Is A C/O For A Legal 4 Family On File With Building Department! No Leases With Any Tenants! Rents Listed Are market Value.

Key facts

• Brick exterior
• Private driveway
• Front porch

Tags

• MULTI-FAMILY HOME
• BRICK EXTERIOR
• FRONT PORCH
• ABOVE-GROUND BASEMENT
• PRIVATE DRIVEWAY
• LOCAL SHOPS

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $630/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $875k).
• Recommended offer: $770k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Market conditions: Rents rising fast (+4.4%/yr); 185 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $10,844/mo this rent would consume 201% 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 $6k of loan paydown is wiped out by about $26k 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 $245k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($770k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 28y ago; this cycle's ask has dropped $75k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $285k; list at $875k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $770,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% 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 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.24% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $34,241
• Equity at exit: $130,465

10-year hold

• IRR: 14.4%
• Equity multiple: 2.23×
• Total profit: $302,044
• Equity at exit: $75,654

Cash invested: $245,000 (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: 185
• Price-to-rent: 26.9×

Monthly cashflow live

• Estimated rent: $10,844 high
• Mortgage (P&I): −$4,589
• Tax est. 1.5%: −$1,094 /mo · $13,125/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,277
• Net cashflow: $2,520

Break-even live

Break-even rent $7,654

Max offer price $875,000

Occupancy floor 72%

Sensitivity live

Price	-10% $3,125	-5% $2,822	+0% $2,520	+5% $2,217	+10% $1,915
Rent	-10% $1,663	-5% $2,091	+0% $2,520	+5% $2,948	+10% $3,377
Rate	-1.0pp $2,960	-0.5pp $2,742	base $2,520	+0.5pp $2,293	+1.0pp $2,062

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$10,844
Total (4 units)			$10,844

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: $218,750
• Closing costs: $26,250
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-03-28
   status Pending
2. 2026-02-04
   price $875,000
3. 2026-02-04
   price $880,000
4. 2026-02-04
   price $850,000
5. 2025-10-07
   status Active
6. 2025-08-10
   status Pending
7. 2025-06-10
   status Active
8. 2025-06-02
   listed $949,999 Active
9. 2014-01-27
   price $225,000 405-char remark

   Show marketing remark (405 chars)

   A Contractors Dream! House Needs Work (Price Already Reflects Condition Of Property)! A Real Money Maker! House Is Currently Set Up As A 3 Family (1st Floor Tenant Occupies Basement/Walk In Apt Also)! There Are Currently Tenants Occupying The 2nd Fl & 3rd Fl Units Also. There Is A C/O For A Legal 4 Family On File With Building Department! No Leases With Any Tenants! Rents Listed Are market Value.

10. 2011-01-17
    historical
11. 2010-12-10
    listed
12. 2010-11-21
    historical Cancelled
13. 2010-11-21
    listed Active
14. 2008-02-10
    historical
15. 2007-10-11
    listed
16. 2007-10-09
    historical
17. 2007-05-22
    listed
18. 2005-06-10
    soldstatus $285,000 405-char remark

    Show marketing remark (405 chars)

    A Contractors Dream! House Needs Work (Price Already Reflects Condition Of Property)! A Real Money Maker! House Is Currently Set Up As A 3 Family (1st Floor Tenant Occupies Basement/Walk In Apt Also)! There Are Currently Tenants Occupying The 2nd Fl & 3rd Fl Units Also. There Is A C/O For A Legal 4 Family On File With Building Department! No Leases With Any Tenants! Rents Listed Are market Value.

19. 2005-02-21
    listed $285,000 405-char remark

    Show marketing remark (405 chars)

    A Contractors Dream! House Needs Work (Price Already Reflects Condition Of Property)! A Real Money Maker! House Is Currently Set Up As A 3 Family (1st Floor Tenant Occupies Basement/Walk In Apt Also)! There Are Currently Tenants Occupying The 2nd Fl & 3rd Fl Units Also. There Is A C/O For A Legal 4 Family On File With Building Department! No Leases With Any Tenants! Rents Listed Are market Value.

20. 1998-02-26
    listed

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $130,128
• − Mortgage interest: −$49,014
• − Property taxes: −$13,125
• − Insurance: −$4,375
• − Repairs & maintenance: −$10,410
• − Management: −$10,410
• − Depreciation: −$25,455
• Taxable income: $17,339
• Est. tax owed @ 24.0%: −$4,161
• After-tax cash flow: $26,077/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

+207.0% since first listed

20 events — show timeline

• 2026-03-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $875,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $880,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-02 Listed $949,999 OneKey® MLS as Distributed by MLS Grid
• 2014-01-27 Price Changed $225,000 HGMLS
• 2011-01-17 Delisted — HGMLS
• 2010-12-10 Listed — HGMLS
• 2010-11-21 Delisted — HGMLS
• 2010-11-21 Listed — HGMLS
• 2008-02-10 Delisted — HGMLS
• 2007-10-11 Listed — HGMLS
• 2007-10-09 Delisted — HGMLS
• 2007-05-22 Listed — HGMLS
• 2005-06-10 Sold (MLS) $285,000 HGMLS
• 2005-02-21 Listed $285,000 HGMLS
• 1998-02-26 Listed — HGMLS