234 S 3rd Ave · Mount Vernon, NY 10550

$819,000

6 bd · 3.9 ba · — sqft · MultiFamily · 357 Days on market

Built 1896 4,356 sqft lot

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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 +14.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• DSCR +4.3/10.0
• 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

Fully Renovated Triplex located in the heart of the city of Mount Vernon. This Fully Renovated with verified electrical, building amd plumbing permits. This 2 Unit, with 3 Unit Feature has 7.5 Beds and 4 Baths. All Kitchens are featured with Quartz Countertops, Stainless Steel Appliances, Top of line slam proof Cabinets, Exclusive decors and tiles. On the first floor, you’ll find 3 beds, 2 Full Baths, Kitchen, Living room, 4 Closets, and 3 Entrances-Front-Side-Rear-with a back Wooden Deck. As you make your way to the 2nd Floor, you’ll enter the living room, and find 2.5 Bedrooms, 1 Bath, Upgraded Kitchen, Balcony, and a side Entrance from the Driveway. As you make your way to th

Key facts

• Quartz countertops
• Upgraded kitchen
• Top of line cabinets

Tags

• FULLY RENOVATED TRIPLEX
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TOP OF LINE CABINETS
• WOODEN DECK
• UPGRADED KITCHEN

Property features AI

Exterior

• Parking: Carport with space for 4 vehicles; One covered garage space; Driveway access; Garage with automatic door opener; Total parking for 5 vehicles
• Security: Video cameras
• Utilities: Public sewer; Electricity available
• Home design: Duplex property sub-type; Updated/remodeled condition
• Exterior features: Stone and stucco exterior; Chain-link front yard fencing; Detached garages/garage structures; Video camera security; Not waterfront

Interior

• Bedrooms: Two 2-bedroom units and one 3-bedroom unit
• Flooring: Other flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Open floor plan; Finished basement; Deck, porch and terrace

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $819k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive. Per door: $43/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $799k (2.5% below list).
• Recommended offer: $721k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 5.2% in Mount Vernon — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Edward Williams School (math 22% / reading 32%, grade F, #1,786 of 2,108 statewide, top 86%, 473 students, 85% FRL); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL) — zoned schools average 77% FRL vs 62% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 26d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $7,987/mo this rent would consume 158% 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 $25k 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 357 days — a 12% lower offer ($721k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 27y ago; this cycle's ask is 23300% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $350k; list at $819k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — 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 $720,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% 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 1896 — 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. 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: 0.98% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 8.5

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
132 East 4th St	0.27mi	6/2.0	2,800	0mo	$700,000	$250	67
128 E 4th St	0.26mi	6/2.0	—	2mo	$770,000	—	66
112 S 7th Ave	0.30mi	5/3.0 (-1)	2,200	1mo	$445,000	$202	64
4423 Mundy Ln	0.47mi	7/3.0 (+1)	—	1mo	$880,000	—	56
450-452 Franklin Ave	0.43mi	7/3.0 (+1)	—	5mo	$740,000	—	55
639 S 5th Ave	0.71mi	6/—	—	0mo	$510,000	—	54
111 S Fulton Ave	0.43mi	5/2.0 (-1)	—	1mo	$415,000	—	54
247 Nuber Ave	0.58mi	6/2.0	—	1mo	$885,000	—	52
435 S Columbus Ave	0.71mi	6/3.0	—	3mo	$780,000	—	48
605 S 6th Ave	0.64mi	5/2.0 (-1)	—	0mo	$990,000	—	45
557 S 5th Ave	0.59mi	5/2.0 (-1)	1,975	4mo	$450,000	$228	44
4331 Wilder Ave	0.75mi	5/2.0 (-1)	1,574	2mo	$803,000	$510	39

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-121,010
• Equity at exit: $122,116

10-year hold

• IRR: -5.3%
• Equity multiple: 0.65×
• Total profit: $-80,587
• Equity at exit: $70,812

Cash invested: $229,320 (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: 25.6×

Monthly cashflow live

• Estimated rent: $7,987 high
• Mortgage (P&I): −$4,295
• Tax from tax record: −$1,544 /mo · $18,523/yr
• Insurance: −$341
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,677
• Net cashflow: $130

Break-even live

Break-even rent $7,822

Max offer price $819,000

Occupancy floor 93%

Sensitivity live

Price	-10% $594	-5% $362	+0% $130	+5% $-102	+10% $-334
Rent	-10% $-501	-5% $-186	+0% $130	+5% $445	+10% $761
Rate	-1.0pp $542	-0.5pp $338	base $130	+0.5pp $-82	+1.0pp $-298

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$7,986
Total (3 units)			$7,987

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: $204,750
• Closing costs: $24,570
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 S 7th Ave Mount Vernon, NY	5.0	2.0	1000	$4,800	$4.80	26d	1	0.25mi
33 Union Ln Mount Vernon, NY	5.0	1.0	1200	$4,200	$3.50	26d	1	0.34mi
33 Union Ln Unit 2 Mt Vernon, NY	5.0	1.0	—	$4,000	—	26d	1	0.34mi
142 W 5th St Mount Vernon, NY	6.0	2.0	1250	$3,756	$3.00	20d	1	0.47mi
641 S 5th Ave Unit 2nd/3rd Floor Mt Vernon, NY	5.0	2.0	1800	$3,900	$2.17	6d	1	0.74mi
222 Primrose Ave Unit 2 Mt Vernon, NY	5.0	2.0	1900	$5,250	$2.76	20d	1	1.08mi

Listing history 50 events

1. 2026-06-21
   days on market $819,000 Active 357 DOM
2. 2026-06-18
   days on market $819,000 Active 354 DOM
3. 2026-06-17
   days on market $819,000 Active 353 DOM
4. 2026-06-16
   days on market $819,000 Active 352 DOM
5. 2026-06-15
   days on market $819,000 Active 351 DOM
6. 2026-06-13
   days on market $819,000 Active 349 DOM
7. 2026-06-09
   pricedays on market $819,000 Active 345 DOM
8. 2026-06-08
   days on market $849,000 Active 344 DOM
9. 2026-06-07
   days on market $849,000 Active 343 DOM
10. 2026-06-04
    days on market $849,000 Active 340 DOM
11. 2026-06-03
    days on market $849,000 Active 339 DOM
12. 2026-06-02
    days on market $849,000 Active 338 DOM
13. 2026-06-01
    days on market $849,000 Active 337 DOM
14. 2026-05-31
    days on market $849,000 Active 336 DOM
15. 2026-03-12
    status Active
16. 2026-03-03
    historical
17. 2026-02-20
    status Active
18. 2026-02-01
    historical
19. 2026-01-07
    status Active
20. 2026-01-01
    historical
21. 2025-10-25
    price $849,000
22. 2025-10-04
    status Active
23. 2025-10-01
    historical
24. 2025-08-18
    price $899,000
25. 2025-07-22
    historical $3,500
26. 2025-06-20
    listed $3,500
27. 2025-06-19
    price $995,000
28. 2025-05-30
    historical $3,500
29. 2025-05-22
    listed $1,100,000 Active
30. 2025-05-01
    listed $3,500
31. 2025-01-16
    soldstatus $350,000
32. 2024-09-12
    listed $399,999 Active
33. 2022-04-29
    historical
34. 2022-04-25
    listed $269,990 Active
35. 2014-04-08
    price $99,900
36. 2014-03-15
    price $110,000
37. 2011-04-07
    soldstatus $110,000 Sold
38. 2011-01-05
    historical Pending
39. 2010-12-16
    price $99,900
40. 2010-08-12
    price $115,900
41. 2010-07-15
    price $124,900
42. 2010-05-24
    listed $134,900 Active
43. 2010-05-20
    historical
44. 2010-04-12
    price
45. 2010-02-23
    price
46. 2010-01-11
    price
47. 2009-12-22
    price
48. 2009-12-07
    price
49. 2009-11-03
    price
50. 2009-10-20
    price

ⓘ 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: $18,523 · $1,544/mo
• Projected year-2 tax: $18,523 · $1,544/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: $95,844
• − Mortgage interest: −$45,877
• − Property taxes: −$18,523
• − Insurance: −$4,095
• − Repairs & maintenance: −$7,668
• − Management: −$7,668
• − Depreciation: −$23,825
• Taxable loss: −$11,811
• Est. tax savings @ 24.0%: +$2,835
• After-tax cash flow: $4,394/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

+793.7% since first listed

49 events — show timeline

• 2026-03-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-02-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-25 Price Changed $849,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-18 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-22 Rental Removed $3,500 TURBOTENANT
• 2025-06-20 Listed for Rent $3,500 TURBOTENANT
• 2025-06-19 Price Changed $995,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-30 Rental Removed $3,500 TURBOTENANT
• 2025-05-22 Listed $1,100,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Listed for Rent $3,500 TURBOTENANT
• 2025-01-16 Sold (Public Records) $350,000 Public Records
• 2024-09-12 Listed $399,999 OneKey® MLS as Distributed by MLS Grid
• 2022-04-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-04-25 Listed $269,990 OneKey® MLS as Distributed by MLS Grid
• 2014-04-08 Price Changed $99,900 HGMLS
• 2014-03-15 Price Changed $110,000 HGMLS
• 2011-04-07 Sold (MLS) $110,000 HGMLS
• 2011-01-05 Contingent — HGMLS
• 2010-12-16 Price Changed $99,900 HGMLS
• 2010-08-12 Price Changed $115,900 HGMLS
• 2010-07-15 Price Changed $124,900 HGMLS
• 2010-05-24 Listed $134,900 HGMLS
• 2010-05-20 Delisted — HGMLS
• 2010-04-12 Price Changed — HGMLS
• 2010-02-23 Price Changed — HGMLS
• 2010-01-11 Price Changed — HGMLS
• 2009-12-22 Price Changed — HGMLS
• 2009-12-07 Price Changed — HGMLS
• 2009-11-03 Price Changed — HGMLS
• 2009-10-20 Price Changed — HGMLS
• 2009-09-30 Listed — HGMLS
• 2008-07-24 Delisted — HGMLS
• 2007-09-19 Listed — HGMLS
• 2007-02-13 Delisted — HGMLS
• 2005-11-01 Listed — HGMLS
• 2003-06-26 Delisted — HGMLS
• 2003-06-19 Listed — HGMLS
• 2000-05-15 Sold (Public Records) $202,000 Public Records
• 2000-05-15 Sold (Public Records) $293,000 Public Records
• 1999-11-23 Price Changed $145,000 HGMLS
• 1999-11-23 Sold (MLS) $127,000 HGMLS
• 1999-08-27 Listed $127,000 HGMLS
• 1996-07-31 Sold (Public Records) $95,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $18,523 · +2.1% YoY. Source: county tax records.