233 S 5th Ave · Mount Vernon, NY 10550

$899,000

9 bd · 3.9 ba · 3,300 sqft · MultiFamily · 78 Days on market

Built 1929 3,485 sqft lot Est $927k · at est.

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Why this score? — see what drove the C+ 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 +25.1/30.0
• ARV discount +8.9/15.0
• DSCR +8.2/10.0
• 1% rule +5.8/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 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: 3 units. confirmed

Listing remarks

Three-family investment with a flexible layout including a 3-bed/1-bath first-floor unit, 3-bed/1-bath second-floor unit, and a 3-bed/1-bath third-floor unit with living spaces, bath, laundry, and storage in the partially finished lower level. Located minutes from vibrant shops and dining, quality schools, public transit, and Montefiore Mount Vernon Hospital, with easy access to downtown Mount Vernon amenities. This property offers strong rental potential or owner-occupancy options in a well-connected community.

Key facts

• Basement unit
• 3,485 sq ft lot
• Built 1929

Tags

• BASEMENT UNIT
• STRONG RENTAL POTENTIAL

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity available; Natural gas available; Trash collection (public); Water available
• Home design: Triplex property
• Construction: Stucco construction
• Exterior features: Stucco exterior; Not waterfront

Interior

• Bedrooms: Three 3-bedroom units
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Built-in features; Ceiling fans; High ceilings; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $665/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $899k).
• Recommended offer: $845k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.3% in Mount Vernon — 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 71/100 on livability (#397 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A, employment B; Watch: crime D-, cost of living F.
• Mount Vernon School District (suburban): math 35% / reading 50% proficiency, ranked #485 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $9,677/mo this rent would consume 191% of the median local household income ($61k/yr) (locally 2963% 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 $27k 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 78 days — a 6% lower offer ($845k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $265k; list at $899k implies a 239% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $845,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1929 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.08% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $927,300
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 S 13th Ave	0.46mi	8/— (-1)	2,950 (-11%)	0mo	$849,000	$288	56
211 S 2nd Ave	0.16mi	10/3.0 (+1)	3,012 (-9%)	21mo	$820,000	$272	52
53 Adams St	0.43mi	9/3.0	3,485 (+6%)	20mo	$775,000	$222	51
29 N 10th Ave	0.62mi	8/6.0 (-1)	3,347 (+1%)	9mo	$350,000	$105	48
135 Vista Pl	0.53mi	8/3.0 (-1)	3,478 (+5%)	15mo	$725,000	$208	46
140 Park Ave	0.73mi	8/3.0 (-1)	3,200 (-3%)	15mo	$899,000	$281	40
4523 Murdock Ave	0.54mi	8/4.0 (-1)	2,850 (-14%)	15mo	$1,278,999	$449	34
10 S Bond St	0.67mi	8/3.5 (-1)	3,000 (-9%)	17mo	$950,000	$317	33
4425 Seton Ave	0.43mi	10/7.0 (+1)	3,600 (+9%)	24mo	$1,185,000	$329	28
120 N 8th Ave	0.72mi	8/6.0 (-1)	3,600 (+9%)	16mo	$955,000	$265	24

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-15,230
• Equity at exit: $134,044

10-year hold

• IRR: 8.4%
• Equity multiple: 1.65×
• Total profit: $164,448
• Equity at exit: $77,729

Cash invested: $251,720 (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 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $9,677 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$561 /mo · $6,736/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,032
• Net cashflow: $1,994

Break-even live

Break-even rent $7,152

Max offer price $899,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$9,678
Total (3 units)			$9,677

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-18
   status Pending
2. 2026-05-17
   historical
3. 2026-05-16
   status Active
4. 2026-04-17
   status Pending
5. 2026-03-04
   price $899,000
6. 2026-01-30
   listed $929,000 Active
7. 2002-10-15
   soldstatus $265,000
8. 2000-05-05
   soldstatus $200,000
9. 1983-03-01
   soldstatus $16,000

ⓘ 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: $6,736 · $561/mo
• Projected year-2 tax: $10,964 · $914/mo
• Expected delta: +$4,229/yr (+$352/mo · 62.8%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,124
• − Mortgage interest: −$50,358
• − Property taxes: −$6,736
• − Insurance: −$4,495
• − Repairs & maintenance: −$9,290
• − Management: −$9,290
• − Depreciation: −$26,153
• Taxable income: $9,803
• Est. tax owed @ 24.0%: −$2,353
• After-tax cash flow: $21,581/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: Mount Vernon School District
• NCES district ID: 3620100
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 50% ▲ 6.00%
• Median HH income: $50,890
• Composite: 36.59/100
• National rank: #4631
• State rank: #485 of 590 in NY

Livability — Mount Vernon

• Score: 71/100
• State rank: #397
• US rank: #6876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, NY
• County: Westchester County · 709,332 people
• City population: 61,313
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,972
• Household income: $60,701
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 2963.0

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 Black (66%)
• Race & ethnicity: Black 66% Hispanic / Latino 20% Two or more races 12% White 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Estonian 2% Hispanic 1% Russian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -140.69%
• Current HPI: 191.5235
• Rent YoY: ▲ 3.37%
• 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

+5518.8% since first listed

9 events — show timeline

• 2026-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-05-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-30 Listed $929,000 OneKey® MLS as Distributed by MLS Grid
• 2002-10-15 Sold (Public Records) $265,000 Public Records
• 2000-05-05 Sold (Public Records) $200,000 Public Records
• 1983-03-01 Sold (Public Records) $16,000 Public Records

Property tax history

-12.3%/yr

Latest (2025): $6,736 · +2.1% YoY. Source: county tax records.