58 State St · Ossining, NY 10562

$600,000

5 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 64 Days on market

Built 1925 2,178 sqft lot $417/sqft · 41% below area Est $1010k · 41% under

---

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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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

Income-producing duplex in a desirable location! Has 5 bedrooms and two baths total. 3 bedrooms 1 bath in one unit, 2 bedrooms 1 bath in second unit. This well-maintained property offers two units with strong rental history and consistent cash flow. Ideal for investors or owner-occupants looking to offset their mortgage. Features include separate utilities, spacious layouts, and convenient access to transportation, shopping, and major highways. A rare opportunity to own a turnkey investment in a growing market.

Key facts

• Separate utilities
• Spacious layouts
• Turnkey investment

Tags

• INCOME PRODUCING DUPLEX
• STRONG RENTAL HISTORY
• SEPARATE UTILITIES
• SPACIOUS LAYOUTS
• CONVENIENT ACCESS TO SHOPPING
• TURNKEY INVESTMENT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $949/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $600k).
• Recommended offer: $564k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.9% in Ossining — 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 80/100 on livability (#116 in NY, #1,876 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A; Watch: schools D+, cost of living F.
• Ossining Union Free School District (suburban): math 72% / reading 72% proficiency, ranked #104 of 590 in NY (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $8,064/mo this rent would consume 84% of the median local household income ($116k/yr) (locally 1248% 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 $4k of loan paydown is wiped out by about $18k 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 + 3.0% rent growth), your $168k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($564k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $286k; list at $600k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $564,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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 1925 — 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. 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?
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: 1.34% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 6.2

CMA / ARV

• ARV (median comp): $1,009,733
• List price: $600,000
• Delta: -40.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Everett Ave	0.20mi	4/2.0 (-1)	1,432 (-1%)	20mo	$455,000	$318	68
132 S Highland Ave	0.45mi	4/3.0 (-1)	1,236 (-14%)	12mo	$631,000	$511	36
30 Yale Ave	0.73mi	4/2.0 (-1)	1,532 (+6%)	22mo	$520,000	$339	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $23,991
• Equity at exit: $89,462

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $177,871
• Equity at exit: $51,877

Cash invested: $168,000 (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 10562

• Active inventory: 134
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $8,064 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$1,076 /mo · $12,911/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,693
• Net cashflow: $1,898

Break-even live

Break-even rent $5,661

Max offer price $600,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$8,064
Total (2 units)			$8,064

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 Iroquois Rd Ossining, NY	4.0	2.0	1703	$4,950	$2.91	24d	1	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $600,000 Active 64 DOM
2. 2026-06-17
   days on market $600,000 Active 63 DOM
3. 2026-06-16
   days on market $600,000 Active 62 DOM
4. 2026-06-15
   days on market $600,000 Active 61 DOM
5. 2026-06-13
   days on market $600,000 Active 59 DOM
6. 2026-06-09
   days on market $600,000 Active 55 DOM
7. 2026-06-08
   days on market $600,000 Active 54 DOM
8. 2026-06-07
   days on market $600,000 Active 53 DOM
9. 2026-06-04
   days on market $600,000 Active 50 DOM
10. 2026-06-03
    days on market $600,000 Active 49 DOM
11. 2026-06-02
    days on market $600,000 Active 48 DOM
12. 2026-06-01
    days on market $600,000 Active 47 DOM
13. 2026-05-31
    days on market $600,000 Active 46 DOM
14. 2026-04-30
    price $600,000 516-char remark

    Show marketing remark (516 chars)

    Income-producing duplex in a desirable location! Has 5 bedrooms and two baths total. 3 bedrooms 1 bath in one unit, 2 bedrooms 1 bath in second unit. This well-maintained property offers two units with strong rental history and consistent cash flow. Ideal for investors or owner-occupants looking to offset their mortgage. Features include separate utilities, spacious layouts, and convenient access to transportation, shopping, and major highways. A rare opportunity to own a turnkey investment in a growing market.

15. 2026-04-30
    status Active 516-char remark

    Show marketing remark (516 chars)

    Income-producing duplex in a desirable location! Has 5 bedrooms and two baths total. 3 bedrooms 1 bath in one unit, 2 bedrooms 1 bath in second unit. This well-maintained property offers two units with strong rental history and consistent cash flow. Ideal for investors or owner-occupants looking to offset their mortgage. Features include separate utilities, spacious layouts, and convenient access to transportation, shopping, and major highways. A rare opportunity to own a turnkey investment in a growing market.

16. 2026-04-15
    status Pending 516-char remark

    Show marketing remark (516 chars)

    Income-producing duplex in a desirable location! Has 5 bedrooms and two baths total. 3 bedrooms 1 bath in one unit, 2 bedrooms 1 bath in second unit. This well-maintained property offers two units with strong rental history and consistent cash flow. Ideal for investors or owner-occupants looking to offset their mortgage. Features include separate utilities, spacious layouts, and convenient access to transportation, shopping, and major highways. A rare opportunity to own a turnkey investment in a growing market.

17. 2026-03-30
    listed $585,000 Active 516-char remark

    Show marketing remark (516 chars)

    Income-producing duplex in a desirable location! Has 5 bedrooms and two baths total. 3 bedrooms 1 bath in one unit, 2 bedrooms 1 bath in second unit. This well-maintained property offers two units with strong rental history and consistent cash flow. Ideal for investors or owner-occupants looking to offset their mortgage. Features include separate utilities, spacious layouts, and convenient access to transportation, shopping, and major highways. A rare opportunity to own a turnkey investment in a growing market.

18. 2006-06-16
    soldstatus $286,200
19. 2006-06-16
    soldstatus $286,200
20. 2006-03-03
    soldstatus $270,000 180-char remark

    Show marketing remark (180 chars)

    House Being Sold as, Is. Handyman Special. Tenants Must Be Home To Show. Advance Notice Appreciated. Taxes Do Not Include Star. Taxes & Sq. Ft. Per Tax Office, Please Verify.

21. 2006-02-17
    price $319,000 180-char remark

    Show marketing remark (180 chars)

    House Being Sold as, Is. Handyman Special. Tenants Must Be Home To Show. Advance Notice Appreciated. Taxes Do Not Include Star. Taxes & Sq. Ft. Per Tax Office, Please Verify.

22. 2006-02-17
    historical 180-char remark

    Show marketing remark (180 chars)

    House Being Sold as, Is. Handyman Special. Tenants Must Be Home To Show. Advance Notice Appreciated. Taxes Do Not Include Star. Taxes & Sq. Ft. Per Tax Office, Please Verify.

23. 2005-11-22
    listed $270,000 180-char remark

    Show marketing remark (180 chars)

    House Being Sold as, Is. Handyman Special. Tenants Must Be Home To Show. Advance Notice Appreciated. Taxes Do Not Include Star. Taxes & Sq. Ft. Per Tax Office, Please Verify.

24. 2001-03-07
    soldstatus $190,000
25. 1995-10-31
    soldstatus $65,000

ⓘ 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: $12,911 · $1,076/mo
• Projected year-2 tax: $12,911 · $1,076/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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $96,768
• − Mortgage interest: −$33,609
• − Property taxes: −$12,911
• − Insurance: −$3,000
• − Repairs & maintenance: −$7,741
• − Management: −$7,741
• − Depreciation: −$17,455
• Taxable income: $14,310
• Est. tax owed @ 24.0%: −$3,434
• After-tax cash flow: $19,344/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: Ossining Union Free School District
• NCES district ID: 3622020
• Math proficiency: 72% ▲ 27.00%
• Reading proficiency: 72% ▲ 25.00%
• Median HH income: $78,402
• Composite: 63.75/100
• National rank: #599
• State rank: #104 of 590 in NY

Livability — Ossining

• Score: 80/100
• State rank: #116
• US rank: #1876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ossining, NY
• County: Westchester County · 709,332 people
• City population: 33,793
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 33,793
• Household income: $115,697
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 1248.0

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 0.63)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 11% Black 8% Asian 4%
• Hispanic origin (detail): Puerto Rican 6% Cuban 2% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Italian 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 59% English-only · Spanish 31% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -605.12%
• Current HPI: 251.6831
• Rent YoY: —
• 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

+823.1% since first listed

12 events — show timeline

• 2026-04-30 Price Changed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-30 Listed $585,000 OneKey® MLS as Distributed by MLS Grid
• 2006-06-16 Sold (Public Records) $286,200 Public Records
• 2006-06-16 Sold (Public Records) $286,200 Public Records
• 2006-03-03 Sold (MLS) $270,000 HGMLS
• 2006-02-17 Delisted — HGMLS
• 2006-02-17 Price Changed $319,000 HGMLS
• 2005-11-22 Listed $270,000 HGMLS
• 2001-03-07 Sold (Public Records) $190,000 Public Records
• 1995-10-31 Sold (Public Records) $65,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $12,911 · +3.4% YoY. Source: county tax records.