174 Fairview Ave · Port Chester, NY 10573

$899,000

5 bd · 3.5 ba · 4,152 sqft · MultiFamily public records · 17 Days on market

Built 1900 4,791 sqft lot Est $972k · 7% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

On the market for the first time in over 30 years, this exceptional income-producing three-family home presents a rare opportunity for investors and end users alike. Family-owned and lovingly maintained for generations, this circa-1900 residence is filled with character, craftsmanship, and old-world charm that simply cannot be replicated today. Ideally located within walking distance of Port Chester schools and Rye Brook shops, the home offers three spacious and light-filled apartments, each loaded with warmth and architectural details. The turnkey first-floor unit features a gracious living room with fireplace, formal dining room, oversized eat-in kitchen, office area, two large bedrooms,

Key facts

• Three family home
• Flat backyard
• First floor unit

Tags

• THREE FAMILY HOME
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO SHOPS
• SPACIOUS APARTMENTS
• FIRST FLOOR UNIT
• FLAT BACKYARD

Property features AI

Finance

• Financial info: Property is a triplex (multifamily) with three residential units

Exterior

• Parking: Driveway; On-street parking; 1-car garage
• Utilities: Electricity connected (Con-Edison); Public sewer; Water connected
• Home design: Triplex; Actual condition
• Construction: Stucco construction
• Exterior features: Stucco exterior; Back yard; Garden; Landscaped; Level lot; Near public transit; Near shops; Near schools; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Combination flooring; Hardwood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; No central cooling
• Interior features: Chandelier; Eat-in kitchen; Storage; Patio access
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $7k ($82k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $899k).
• Recommended offer: $886k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 4.3% in Port Chester — 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 73/100 on livability (#315 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A; Watch: amenities D, cost of living F.
• Port Chester-Rye Union Free School District (suburban): math 44% / reading 49% proficiency, ranked #428 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Park Avenue School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 446 students, 66% FRL); Port Chester Middle School (math 20% / reading 43%, grade F, #522 of 729 statewide, top 73%, 971 students, 75% FRL); Port Chester Senior High School (math 88% / reading 92%, grade A+, #238 of 1,100 statewide, top 23%, 1,555 students, 73% FRL).
• Market conditions: Rents soft (-1.7%/yr); 144 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $17,140/mo this rent would consume 195% of the median local household income ($106k/yr) (locally 1362% 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $252k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($886k) 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $885,515 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.91% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.44%
• DSCR: 2.44
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $971,568
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
142 Fairview Ave	0.10mi	6/3.0 (+1)	3,637 (-12%)	20mo	$850,000	$234	51

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 1.95×
• Total profit: $238,141
• Equity at exit: $134,044

10-year hold

• IRR: 29.8%
• Equity multiple: 3.28×
• Total profit: $573,761
• 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 10573

• Rents YoY: -1.7%
• Active inventory: 144
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $17,140 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,646 /mo · $19,748/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,599
• Net cashflow: $6,806

Break-even live

Break-even rent $8,525

Max offer price $899,000

Occupancy floor 55%

Sensitivity live

Price	-10% $7,315	-5% $7,060	+0% $6,806	+5% $6,551	+10% $6,297
Rent	-10% $5,452	-5% $6,129	+0% $6,806	+5% $7,483	+10% $8,160
Rate	-1.0pp $7,259	-0.5pp $7,035	base $6,806	+0.5pp $6,573	+1.0pp $6,336

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$17,139
Total (3 units)			$17,140

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 S Water St Greenwich, CT	5.0	4.5	3000	$9,500	$3.17	0d	1	1.35mi
185 S Water St Greenwich, CT	5.0	5.5	4000	$13,000	$3.25	12d	1	1.36mi
185 S Water St Unit S Greenwich, CT	6.0	5.5	4000	$13,000	$3.25	11d	1	1.36mi
185 S Water St Unit S Greenwich, CT	6.0	5.5	4000	$13,000	$3.25	14d	1	1.36mi

Listing history 11 events

1. 2026-06-21
   days on market $899,000 Active 17 DOM
2. 2026-06-18
   days on market $899,000 Active 14 DOM
3. 2026-06-17
   days on market $899,000 Active 13 DOM
4. 2026-06-16
   days on market $899,000 Active 12 DOM
5. 2026-06-15
   days on market $899,000 Active 11 DOM
6. 2026-06-13
   days on market $899,000 Active 9 DOM
7. 2026-06-13
   days on market $899,000 Active 8 DOM
8. 2026-06-09
   days on market $899,000 Active 5 DOM
9. 2026-06-08
   days on market $899,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $899,000 Active 3 DOM

ⓘ 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: $19,748 · $1,646/mo
• Projected year-2 tax: $19,748 · $1,646/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 · 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: $205,680
• − Mortgage interest: −$50,358
• − Property taxes: −$19,748
• − Insurance: −$4,495
• − Repairs & maintenance: −$16,454
• − Management: −$16,454
• − Depreciation: −$26,153
• Taxable income: $72,017
• Est. tax owed @ 24.0%: −$17,284
• After-tax cash flow: $64,386/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: Port Chester-Rye Union Free School District
• NCES district ID: 3623460
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $58,362
• Composite: 40.67/100
• National rank: #3676
• State rank: #428 of 590 in NY

Livability — Port Chester

• Score: 73/100
• State rank: #315
• US rank: #5245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Chester, NY
• County: Westchester County · 709,332 people
• City population: 40,786
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,786
• Household income: $105,686
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1362.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 37% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 41% Other Indo-European 5% Chinese 1%

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: ▼ -389.46%
• Current HPI: 258.9227
• Rent YoY: ▼ -1.70%
• 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

+32007.1% since first listed

3 events — show timeline

• 2026-05-28 Listed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-27 Rental Removed $2,800 ONEKEY
• 2025-05-23 Listed for Rent $2,800 ONEKEY

Property tax history

+2.7%/yr

Latest (2025): $19,748 · +8.3% YoY. Source: county tax records.