168 Park Ave · Harrison, NY 10528

$1,295,000

6 bd · 2.0 ba · 2,505 sqft · MultiFamily public records · 31 Days on market

Built 1963 7,841 sqft lot Est $1105k · 17% over

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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 +11.9/30.0
• Schools +6.5/10.0
• Rent growth +4.9/5.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Presenting a rare opportunity to own a well-maintained, versatile two-family residence in the highly desirable town of Harrison, offering the perfect balance of comfortable living and income potential. The main level features a spacious three-bedroom, two-bath home with a natural flow ideal for everyday living and entertaining. Highlights include separate dining and living rooms, a fireplace, and a well-proportioned screened-in porch with direct access to the backyard. Upstairs, a spacious two-bedroom, one-bath apartment offers a bright and functional layout complete with a very large living room, an eat-in kitchen, and access to the attic—providing additional storage and flexibility

Key facts

• Screened in porch
• Private backyard
• Eat in kitchen

Tags

• SCREENED IN PORCH
• VERY LARGE LIVING ROOM
• EAT IN KITCHEN
• ACCESS TO ATTIC
• FINISHED BASEMENT
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $-335 ($-4k/yr) — negative. Per door: $-167/mo.
• To cash-flow at today's rent, offer at most $1.24M (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.04M (19.6% below list).
• Recommended offer: $1.04M (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: schools A+, commute A+, employment 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.
• Market conditions: Rents rising fast (+9.7%/yr); 62 active listings in the ZIP; 2 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 $10,408/mo this rent would consume 81% of the median local household income ($154k/yr) (locally 461% 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 $9k of loan paydown is wiped out by about $39k 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 31 days — a 3% lower offer ($1.26M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• 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 $1,040,800 (19.6% 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 31 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $1,104,705
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
183 Park Ave	0.05mi	5/3.0 (-1)	2,549 (+2%)	2mo	$1,125,000	$441	84
115 Calvert St	0.28mi	6/2.0	2,612 (+4%)	6mo	$1,275,000	$488	75
85 Franklin Ave	0.32mi	5/2.0 (-1)	2,337 (-7%)	9mo	$1,100,000	$471	62
135 Webster Ave	0.46mi	6/—	2,678 (+7%)	12mo	$999,000	$373	57
9 Walnut Ln	0.32mi	6/2.0	2,216 (-12%)	14mo	$1,075,000	$485	54
136 Nelson Ave	0.61mi	5/2.0 (-1)	2,484 (-1%)	17mo	$955,000	$384	51
6-8 Marion Ave	0.22mi	6/6.0	2,840 (+13%)	3mo	$1,355,000	$477	49
7 Harris Ln	0.28mi	6/5.0	2,757 (+10%)	17mo	$1,185,000	$430	44
97 Crotona Ave	0.47mi	6/2.0	2,232 (-11%)	23mo	$965,000	$432	41

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: -12.9%
• Equity multiple: 0.51×
• Total profit: $-176,237
• Equity at exit: $193,089

10-year hold

• IRR: 2.2%
• Equity multiple: 1.19×
• Total profit: $69,098
• Equity at exit: $111,968

Cash invested: $362,600 (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: 62
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $10,408 high
• Mortgage (P&I): −$6,791
• Tax from tax record: −$1,226 /mo · $14,715/yr
• Insurance: −$540
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,186
• Net cashflow: $-335

Break-even live

Break-even rent $10,832

Max offer price $1,235,892

Occupancy floor 98%

Sensitivity live

Price	-10% $398	-5% $32	+0% $-335	+5% $-701	+10% $-1,068
Rent	-10% $-1,157	-5% $-746	+0% $-335	+5% $77	+10% $488
Rate	-1.0pp $318	-0.5pp $-5	base $-335	+0.5pp $-670	+1.0pp $-1,012

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$10,408
Total (2 units)			$10,408

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: $323,750
• Closing costs: $38,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Nelson Ave Harrison, NY	5.0	4.5	3392	$12,500	$3.69	17d	1	0.56mi
625 Lorraine St Mamaroneck, NY	5.0	2.0	1926	$6,300	$3.27	0d	1	0.89mi

Listing history 10 events

1. 2026-04-29
   status Pending
2. 2026-03-27
   listed $1,295,000 Active
3. 2025-10-08
   historical $5,999
4. 2025-08-23
   price $5,999
5. 2025-07-17
   price $6,398
6. 2025-06-13
   price $6,399
7. 2025-04-11
   listed $6,400
8. 2025-02-20
   historical $5,400
9. 2025-02-07
   price $5,400
10. 2025-02-04
    listed $5,900

ⓘ 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: $14,715 · $1,226/mo
• Projected year-2 tax: $18,300 · $1,525/mo
• Expected delta: +$3,585/yr (+$299/mo · 24.4%)

ⓘ 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 · 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: $124,896
• − Mortgage interest: −$72,540
• − Property taxes: −$14,715
• − Insurance: −$6,475
• − Repairs & maintenance: −$9,992
• − Management: −$9,992
• − Depreciation: −$37,673
• Taxable loss: −$26,490
• Est. tax savings @ 24.0%: +$6,358
• After-tax cash flow: $2,342/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: 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

+21849.2% since first listed

10 events — show timeline

• 2026-04-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-27 Listed $1,295,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-08 Rental Removed $5,999 ONEKEY
• 2025-08-23 Price Changed $5,999 ONEKEY
• 2025-07-17 Price Changed $6,398 ONEKEY
• 2025-06-13 Price Changed $6,399 ONEKEY
• 2025-04-11 Listed for Rent $6,400 ONEKEY
• 2025-02-20 Rental Removed $5,400 Avail
• 2025-02-07 Price Changed $5,400 Avail
• 2025-02-04 Listed for Rent $5,900 Avail

Property tax history

-1.3%/yr

Latest (2025): $14,715 · -29.9% YoY. Source: county tax records.