111 N 7th Ave · Mount Vernon, NY 10550

$350,000

6 bd · 3.0 ba · — sqft · MultiFamily · 78 Days on market

Built 1925 4,792 sqft lot

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great Home Or Investment Property Parking For At Least 1015 Cars,

Key facts

• Three gas meters
• Multi-unit potential
• Four electric meters

Tags

• THREE GAS METERS
• FOUR ELECTRIC METERS
• MULTI-UNIT POTENTIAL

Property features AI

Exterior

• Parking: Off-street oversized parking
• Utilities: Public sewer; Electricity connected
• Home design: Single family residence; Property listed as fixer condition; Living area source: public records
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: First-floor bedroom included in layout
• Bathrooms: 3 full bathrooms
• Heating & cooling: Oil heating; No central cooling
• Interior features: First-floor bedroom; Full attic; Basement (see remarks)
• Laundry & utility: No appliances listed

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $4,396/mo this rent would consume 87% 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 $2k of loan paydown is wiped out by about $10k 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 + 3.4% rent growth), your $98k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y 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 $237k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $329,000 (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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.26% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 6.6

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
248 Westchester Ave	0.43mi	6/4.0	2,674	0mo	$855,000	$320	63
407 N Macquesten Pkwy	0.40mi	6/4.0	3,347	5mo	$850,000	$254	61
112 S 7th Ave	0.47mi	5/3.0 (-1)	2,200	0mo	$445,000	$202	60
51 S High St	0.53mi	6/3.0	2,470	5mo	$640,000	$259	59
19 Primrose Ave	0.48mi	6/4.0	3,759	4mo	$1,175,000	$313	58
28 Grove St	0.59mi	6/2.0	—	1mo	$600,000	—	55
14 S Terrace Ave	0.49mi	5/2.0 (-1)	—	2mo	$685,000	—	54
93 Edgewood Ave	0.73mi	6/3.0	4,500	3mo	$974,000	$216	51
262 N Fulton Ave	0.61mi	5/4.0 (-1)	3,965	3mo	$949,000	$239	48
111 S Fulton Ave	0.68mi	5/2.0 (-1)	—	1mo	$415,000	—	46
307 N Fulton Ave	0.70mi	6/6.0	3,100	1mo	$1,050,000	$339	42
290 E Sidney Ave	0.73mi	5/4.0 (-1)	—	4mo	$900,000	—	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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-96
• Equity at exit: $52,186

10-year hold

• IRR: 10.1%
• Equity multiple: 1.80×
• Total profit: $78,013
• Equity at exit: $30,262

Cash invested: $98,000 (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 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $4,396 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$631 /mo · $7,578/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $860

Break-even live

Break-even rent $3,307

Max offer price $350,000

Occupancy floor 75%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Primrose Ave Unit 2 Mt Vernon, NY	5.0	2.0	1900	$5,250	$2.76	18d	1	0.67mi
310 S 7th Ave Mount Vernon, NY	5.0	2.0	1000	$4,800	$4.80	24d	1	0.82mi
142 W 5th St Mount Vernon, NY	6.0	2.0	1250	$3,756	$3.00	18d	1	1.00mi
33 Union Ln Unit 2 Mt Vernon, NY	5.0	1.0	—	$4,000	—	24d	1	1.02mi
33 Union Ln Mount Vernon, NY	5.0	1.0	1200	$4,200	$3.50	24d	1	1.02mi
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	4d	1	1.42mi

Listing history 23 events

1. 2026-06-18
   days on market $350,000 Active 78 DOM
2. 2026-06-17
   days on market $350,000 Active 77 DOM
3. 2026-06-16
   days on market $350,000 Active 76 DOM
4. 2026-06-15
   days on market $350,000 Active 75 DOM
5. 2026-06-13
   days on market $350,000 Active 73 DOM
6. 2026-06-09
   days on market $350,000 Active 69 DOM
7. 2026-06-08
   days on market $350,000 Active 68 DOM
8. 2026-06-07
   days on market $350,000 Active 67 DOM
9. 2026-06-04
   days on market $350,000 Active 64 DOM
10. 2026-06-03
    days on market $350,000 Active 63 DOM
11. 2026-06-02
    days on market $350,000 Active 62 DOM
12. 2026-06-01
    days on market $350,000 Active 61 DOM
13. 2026-05-31
    days on market $350,000 Active 60 DOM
14. 2026-03-31
    listed $350,000 Active
15. 2021-10-22
    status Pending
16. 2021-10-22
    historical
17. 2021-10-19
    listed $400,000 Active
18. 2000-09-20
    soldstatus $237,000
19. 2000-09-20
    soldstatus $265,000
20. 1997-05-05
    soldstatus $165,000
21. 1997-04-15
    price $175,000 65-char remark

    Show marketing remark (65 chars)

    Great Home Or Investment Property Parking For At Least 1015 Cars,

22. 1997-04-15
    soldstatus $165,000 65-char remark

    Show marketing remark (65 chars)

    Great Home Or Investment Property Parking For At Least 1015 Cars,

23. 1996-12-12
    listed $165,000 65-char remark

    Show marketing remark (65 chars)

    Great Home Or Investment Property Parking For At Least 1015 Cars,

ⓘ 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: $7,578 · $631/mo
• Projected year-2 tax: $7,578 · $631/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 ≥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: $52,754
• − Mortgage interest: −$19,605
• − Property taxes: −$7,578
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,220
• − Management: −$4,220
• − Depreciation: −$10,182
• Taxable income: $5,199
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $9,075/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

+112.1% since first listed

10 events — show timeline

• 2026-03-31 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2021-10-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-10-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-10-19 Listed $400,000 OneKey® MLS as Distributed by MLS Grid
• 2000-09-20 Sold (Public Records) $265,000 Public Records
• 2000-09-20 Sold (Public Records) $237,000 Public Records
• 1997-05-05 Sold (Public Records) $165,000 Public Records
• 1997-04-15 Sold (MLS) $165,000 HGMLS
• 1997-04-15 Price Changed $175,000 HGMLS
• 1996-12-12 Listed $165,000 HGMLS

Property tax history

-16.6%/yr

Latest (2025): $7,578 · +2.1% YoY. Source: county tax records.