480 Halstead Ave Unit 4O · Harrison, NY 10528

$299,000

2 bd · 1.0 ba · 900 sqft · Condo · 64 Days on market

Built 1968 Fair condition $332/sqft · at area comps Est $297k · at est. ↓ 5% since listing

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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 +10.2/30.0
• 1% rule +7.4/10.0
• ARV discount +7.2/15.0
• Schools +6.5/10.0
• Rent growth +4.9/5.0
• Livability +3.6/5.0
• DSCR +2.9/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 2 bedroom apartment in Harrison’s sought-after Newport Tower Complex. This 4th floor unit offers ample closet space and a walk through kitchen. Bring your contractor and your creativity — this apartment is ready for a transformation. With its prime location, you’ll be just moments from Metro North, as well as downtown Harrison’s shopping, dining, and entertainment.

Key facts

• Ample closet space
• Walk through kitchen
• Prime location

Tags

• AMPLE CLOSET SPACE
• WALK THROUGH KITCHEN
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 2.2% in Harrison — 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 72/100 on livability (#355 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A; Watch: housing C-, amenities F, cost of living F.
• Harrison Central School District (suburban): math 69% / reading 72% proficiency, ranked #92 of 590 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Parsons Memorial School (math 71% / reading 62%, grade B+, #575 of 2,108 statewide, top 27%, 488 students, 24% FRL); Louis M Klein Middle School (math 51% / reading 71%, grade B+, #150 of 729 statewide, top 21%, 824 students, 22% FRL); Harrison High School (math 96%, 1,064 students, 21% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 63 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 64 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: moderate flood risk; 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 $281,060 (6.0% 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. 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?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. 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?
11. 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.
12. 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.
13. 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: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• GRM: 6.7

CMA / ARV

• ARV (median comp): $296,856
• List price: $299,000
• Delta: 0.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.54×
• Total profit: $-38,924
• Equity at exit: $44,582

10-year hold

• IRR: 5.4%
• Equity multiple: 1.53×
• Total profit: $44,416
• Equity at exit: $25,852

Cash invested: $83,720 (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 10528

• Home prices YoY: -18.4%
• Rents YoY: 9.7%
• Active inventory: 63
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,717 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA est. from 1 same-building comp: −$1,040
• Vacancy / Maint / Mgmt: −$781
• Net cashflow: $-170

Break-even live

Break-even rent $3,932

Max offer price $274,434

Occupancy floor 100%

Sensitivity live

Price	-10% $37	-5% $-66	+0% $-170	+5% $-273	+10% $-376
Rent	-10% $-463	-5% $-317	+0% $-170	+5% $-23	+10% $124
Rate	-1.0pp $-19	-0.5pp $-94	base $-170	+0.5pp $-247	+1.0pp $-326

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
560 Halstead Ave Unit 3L Harrison, NY	1.0	1.0	691	$2,950	$4.27	17d	1	0.11mi
332 Halstead Ave Harrison, NY	1.0–3.0	1.0–3.0	1116	$4,492	$4.02	0d	1	0.24mi
48 Oakland Ave Harrison, NY	2.0	1.0	1000	$3,000	$3.00	26d	1	0.36mi
74 Nelson Ave Apt 1 Harrison, NY	2.0	1.0	900	$4,000	$4.44	45d	1	0.54mi
74 Nelson Ave Apt 4 Harrison, NY	2.0	1.0	914	$4,500	$4.92	45d	1	0.54mi
97 Crotona Ave Unit 1 Harrison, NY	3.0	1.0	1000	$3,900	$3.90	45d	1	0.70mi
127 Maple Ave Unit 2 Rye, NY	2.0	1.0	850	$4,600	$5.41	45d	1	0.78mi
118 Maple Ave Unit 1 Rye, NY	2.0	1.0	750	$2,600	$3.47	22d	1	0.78mi
99 Maple Ave Unit 3 Rye, NY	2.0	1.0	800	$3,300	$4.12	6d	1	0.83mi
53 Rose Ave Unit 2 Harrison, NY	3.0	1.0	1000	$3,300	$3.30	26d	1	0.88mi
57 West St Unit 1 Harrison, NY	1.0	1.0	826	$2,835	$3.43	26d	1	1.02mi
150 Theodore Fremd Ave Rye, NY	2.0–4.0	1.0–2.5	1320	$3,395	$2.57	0d	1	1.11mi
1408 Henry Ave #1 Mamaroneck, NY	2.0	1.0	850	$3,200	$3.76	45d	1	1.17mi
27-29 Purchase St Rye, NY	3.0	1.0	1081	$4,600	$4.26	20d	1	1.37mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-22
   price $299,000 416-char remark

   Show marketing remark (416 chars)

   Welcome to this spacious 2 bedroom apartment in Harrison’s sought-after Newport Tower Complex. This 4th floor unit offers ample closet space and a walk through kitchen. Bring your contractor and your creativity — this apartment is ready for a transformation. With its prime location, you’ll be just moments from Metro North, as well as downtown Harrison’s shopping, dining, and entertainment.

2. 2026-03-17
   listed $315,000 Active 416-char remark

   Show marketing remark (416 chars)

   Welcome to this spacious 2 bedroom apartment in Harrison’s sought-after Newport Tower Complex. This 4th floor unit offers ample closet space and a walk through kitchen. Bring your contractor and your creativity — this apartment is ready for a transformation. With its prime location, you’ll be just moments from Metro North, as well as downtown Harrison’s shopping, dining, and entertainment.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,606
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,568
• − Management: −$3,568
• − HOA: −$12,480
• − Depreciation: −$8,698
• Taxable loss: −$6,438
• Est. tax savings @ 24.0%: +$1,545
• After-tax cash flow: $-492/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2-bedroom apartment in the Newport Towers Complex requires moderate renovations to improve its condition and appeal to buyers and renters.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Minor HVAC units — basic units

Value-add opportunities

• Resale new kitchen appliances — modern appliances attract buyers
• Resale new bathroom fixtures — updated fixtures appeal to buyers
• Both landscaping improvements — enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
HVAC units · basic units	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale new kitchen appliances — modern appliances attract buyers ↑
• Resale new bathroom fixtures — updated fixtures appeal to buyers ↑
• Both landscaping improvements — enhances curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Harrison Central School District
• NCES district ID: 3613740
• Math proficiency: 69% ▼ -6.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $105,919
• Composite: 65.12/100
• National rank: #497
• State rank: #92 of 590 in NY

Livability — Harrison

• Score: 72/100
• State rank: #355
• US rank: #5963

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrison, NY
• County: Westchester County · 709,332 people
• City population: 14,091
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 14,091
• Household income: $154,416
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 461.0

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 White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 16% Asian 10% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 4% Salvadoran 1%
• Common ancestry: Lithuanian 3% Romanian 2% Scotch-Irish 2%
• Foreign-born: 23% · Canada, Dominican Republic, China
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 8% Other Asian/Pacific 7%

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: ▼ -66.61%
• Current HPI: 296.3824
• Rent YoY: ▲ 9.65%
• 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

-5.1% since first listed

2 events — show timeline

• 2026-04-22 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-17 Listed $315,000 OneKey® MLS as Distributed by MLS Grid