2 Culver St · Yonkers, NY 10705

$599,000

6 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 54 Days on market

Built 1905 2,178 sqft lot Est $802k · 25% under ↓ 11% since listing

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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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.3/10.0
• Rent growth +4.8/5.0
• Schools +4.1/10.0
• 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: 2 units. confirmed

Listing remarks

Great investment or end-user opportunity in Yonkers! This two-family home at 2 Culver Street features two spacious units, one apartment offering 3 bedrooms and 1 full bathroom and the second floor offering 4 bedrooms and 1 full bathroom. The property is in need of renovation, making it a perfect canvas for investors, contractors, or buyers looking to customize and add value. Delivered fully vacant, allowing immediate access for renovations or owner occupancy. Ideal for a true value-add project with strong upside potential. Conveniently located near transportation, shops, and major highways. A rare chance to create your vision in a desirable Yonkers neighborhood.

Key facts

• Immediate access
• Two family home
• Spacious units

Tags

• TWO FAMILY HOME
• SPACIOUS UNITS
• FULLY VACANT
• IMMEDIATE ACCESS
• DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $921/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $599k).
• Recommended offer: $581k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+9.0%/yr); 86 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $6,770/mo this rent would consume 120% of the median local household income ($68k/yr) (locally 2783% 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 + 8.0% rent growth), your $168k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $581,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $802,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Cliff Ave #1	0.07mi	5/— (-1)	1,937 (-3%)	13mo	$690,000	$356	76
38 Carroll St	0.55mi	5/2.0 (-1)	2,010 (+0%)	4mo	$807,000	$401	65
17 Landscape Ave	0.40mi	6/3.0	1,816 (-9%)	4mo	$905,000	$498	58
610 Van Cortlandt Park Ave	0.67mi	5/5.0 (-1)	1,984 (-1%)	9mo	$880,000	$444	43
166 Park Hill Ave Yonkers	0.61mi	5/3.0 (-1)	2,300 (+15%)	3mo	$855,000	$372	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.33×
• Total profit: $55,725
• Equity at exit: $89,313

10-year hold

• IRR: 20.9%
• Equity multiple: 3.15×
• Total profit: $361,239
• Equity at exit: $51,791

Cash invested: $167,720 (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 10705

• Rents YoY: 9.0%
• Active inventory: 86
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $6,770 high
• Mortgage (P&I): −$3,141
• Tax from tax record: −$116 /mo · $1,390/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,422
• Net cashflow: $1,842

Break-even live

Break-even rent $4,439

Max offer price $599,000

Occupancy floor 68%

Sensitivity live

Price	-10% $2,181	-5% $2,011	+0% $1,842	+5% $1,672	+10% $1,503
Rent	-10% $1,307	-5% $1,574	+0% $1,842	+5% $2,109	+10% $2,377
Rate	-1.0pp $2,143	-0.5pp $1,994	base $1,842	+0.5pp $1,686	+1.0pp $1,529

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,770
Total (2 units)			$6,770

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-09
   status Pending
2. 2026-02-14
   price $599,000
3. 2026-01-12
   listed $675,000 Active

ⓘ 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: $1,390 · $116/mo
• Projected year-2 tax: $5,756 · $480/mo
• Expected delta: +$4,367/yr (+$364/mo · 314.2%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 15 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: $81,240
• − Mortgage interest: −$33,553
• − Property taxes: −$1,390
• − Insurance: −$2,995
• − Repairs & maintenance: −$6,499
• − Management: −$6,499
• − Depreciation: −$17,425
• Taxable income: $12,878
• Est. tax owed @ 24.0%: −$3,091
• After-tax cash flow: $19,009/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): 38,887
• Household income: $67,918
• Rent vs Own: 63.2% rent · 36.8% own
• Severe rent burden: 2783.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 16% Black 12% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 9% Dominican 27%
• Common ancestry: Scotch-Irish 1% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica, South Korea
• Languages at home: 39% English-only · Spanish 51% Other Indo-European 3% Other Asian/Pacific 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: ▼ -368.22%
• Current HPI: 314.1777
• Rent YoY: ▲ 9.00%
• 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

-11.3% since first listed

3 events — show timeline

• 2026-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-12 Listed $675,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-23.5%/yr

Latest (2025): $1,390 · +0.6% YoY. Source: county tax records.