25 Fremont St · Harrison, NY 10528

$1,600,000

12 bd · 4.0 ba · 3,415 sqft · MultiFamily public records · 352 Days on market

Built 1928 5,663 sqft lot $469/sqft · 16% below area Est $1894k · 16% under

---

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 +18.3/30.0
• ARV discount +14.5/15.0
• Schools +6.5/10.0
• DSCR +5.7/10.0
• Rent growth +4.9/5.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• 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 MLS

Fully leased triplex in Harrison generating a solid 7%+ cap rate, with immediate value-add upside. Current monthly rent roll totals $12,655 with low annual expenses of $37,221, producing a net operating income of $114,639. Unit Breakdown: 4BR/1BA: $4,450/month 3BR/1BA: $4,300/month 2BR/2BA: $3,905/month All tenants pay electric and gas (except for the 2BR unit, where the landlord covers utilities). Each unit includes in-unit laundry. A large 2-car garage, not currently used by tenants, offers a clear opportunity to add $750–$1,000/month in storage income, increasing the cap rate to nearly 8%. Rents may also be below market value and can be raised over time as leases roll over. Located on a quiet dead-end street with a short commute to Metro-North, shops, and top-rated schools, this property offers long-term rental stability in a high-demand Westchester market. Fully occupied, cash flowing, and primed for even stronger returns. (Photos and floorplan are of the top floor 4 bedroom unit. It is currently fully rented.)

Key facts

• Large 2 car garage
• In unit laundry
• Fully leased triplex

Tags

• FULLY LEASED TRIPLEX
• IN UNIT LAUNDRY
• LARGE 2 CAR GARAGE
• QUIET DEAD END STREET
• SHORT COMMUTE TO METRO NORTH
• LONG TERM RENTAL STABILITY

What this means for you Summary

Snapshot

• This is a 3 × 4.0-bed/1.0-bath units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $487/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 $1.50M (6.5% below list).
• Recommended offer: $1.41M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $14,968/mo this rent would consume 116% 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 $11k of loan paydown is wiped out by about $48k 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 + 8.0% rent growth), your $448k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 352 days — a 12% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $1,408,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 352 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 1928 — 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. 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. 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: 0.94% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.91%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (median comp): $1,894,263
• List price: $1,600,000
• Delta: -15.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-87,328
• Equity at exit: $238,565

10-year hold

• IRR: 9.6%
• Equity multiple: 1.90×
• Total profit: $402,972
• Equity at exit: $138,339

Cash invested: $448,000 (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 10528

• Home prices YoY: -18.4%
• Rents YoY: 9.7%
• Active inventory: 62
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $14,968 high
• Mortgage (P&I): −$8,391
• Tax from tax record: −$1,307 /mo · $15,680/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,143
• Net cashflow: $1,461

Break-even live

Break-even rent $13,119

Max offer price $1,600,000

Occupancy floor 85%

Sensitivity live

Price	-10% $2,367	-5% $1,914	+0% $1,461	+5% $1,008	+10% $555
Rent	-10% $278	-5% $870	+0% $1,461	+5% $2,052	+10% $2,643
Rate	-1.0pp $2,267	-0.5pp $1,868	base $1,461	+0.5pp $1,046	+1.0pp $624

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

Units	Beds	Baths	Est. rent
▸ 3× units	4.0	1	$14,967
Total (3 units)			$14,968

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: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,600,000 Active 352 DOM
2. 2026-06-17
   days on market $1,600,000 Active 351 DOM
3. 2026-06-16
   days on market $1,600,000 Active 350 DOM
4. 2026-06-15
   days on market $1,600,000 Active 349 DOM
5. 2026-06-13
   days on market $1,600,000 Active 347 DOM
6. 2026-06-13
   days on market $1,600,000 Active 346 DOM
7. 2026-06-09
   days on market $1,600,000 Active 343 DOM
8. 2026-06-08
   days on market $1,600,000 Active 342 DOM
9. 2026-06-07
   days on market $1,600,000 Active 341 DOM
10. 2026-06-04
    days on market $1,600,000 Active 338 DOM
11. 2026-06-03
    days on market $1,600,000 Active 337 DOM
12. 2026-06-02
    days on market $1,600,000 Active 336 DOM
13. 2026-06-01
    days on market $1,600,000 Active 335 DOM
14. 2026-05-31
    days on market $1,600,000 Active 334 DOM
15. 2026-01-07
    status Active 1044-char remark

    Show marketing remark (1044 chars)

    Fully leased triplex in Harrison generating a solid 7%+ cap rate, with immediate value-add upside. Current monthly rent roll totals $12,655 with low annual expenses of $37,221, producing a net operating income of $114,639. Unit Breakdown: 4BR/1BA: $4,450/month 3BR/1BA: $4,300/month 2BR/2BA: $3,905/month All tenants pay electric and gas (except for the 2BR unit, where the landlord covers utilities). Each unit includes in-unit laundry. A large 2-car garage, not currently used by tenants, offers a clear opportunity to add $750–$1,000/month in storage income, increasing the cap rate to nearly 8%. Rents may also be below market value and can be raised over time as leases roll over. Located on a quiet dead-end street with a short commute to Metro-North, shops, and top-rated schools, this property offers long-term rental stability in a high-demand Westchester market. Fully occupied, cash flowing, and primed for even stronger returns. (Photos and floorplan are of the top floor 4 bedroom unit. It is currently fully rented.)

16. 2026-01-01
    historical 1044-char remark

    Show marketing remark (1044 chars)

    Fully leased triplex in Harrison generating a solid 7%+ cap rate, with immediate value-add upside. Current monthly rent roll totals $12,655 with low annual expenses of $37,221, producing a net operating income of $114,639. Unit Breakdown: 4BR/1BA: $4,450/month 3BR/1BA: $4,300/month 2BR/2BA: $3,905/month All tenants pay electric and gas (except for the 2BR unit, where the landlord covers utilities). Each unit includes in-unit laundry. A large 2-car garage, not currently used by tenants, offers a clear opportunity to add $750–$1,000/month in storage income, increasing the cap rate to nearly 8%. Rents may also be below market value and can be raised over time as leases roll over. Located on a quiet dead-end street with a short commute to Metro-North, shops, and top-rated schools, this property offers long-term rental stability in a high-demand Westchester market. Fully occupied, cash flowing, and primed for even stronger returns. (Photos and floorplan are of the top floor 4 bedroom unit. It is currently fully rented.)

17. 2025-06-25
    listed $1,600,000 Active 1044-char remark

    Show marketing remark (1044 chars)

    Fully leased triplex in Harrison generating a solid 7%+ cap rate, with immediate value-add upside. Current monthly rent roll totals $12,655 with low annual expenses of $37,221, producing a net operating income of $114,639. Unit Breakdown: 4BR/1BA: $4,450/month 3BR/1BA: $4,300/month 2BR/2BA: $3,905/month All tenants pay electric and gas (except for the 2BR unit, where the landlord covers utilities). Each unit includes in-unit laundry. A large 2-car garage, not currently used by tenants, offers a clear opportunity to add $750–$1,000/month in storage income, increasing the cap rate to nearly 8%. Rents may also be below market value and can be raised over time as leases roll over. Located on a quiet dead-end street with a short commute to Metro-North, shops, and top-rated schools, this property offers long-term rental stability in a high-demand Westchester market. Fully occupied, cash flowing, and primed for even stronger returns. (Photos and floorplan are of the top floor 4 bedroom unit. It is currently fully rented.)

18. 2025-05-01
    historical
19. 2024-10-16
    status Active
20. 2024-10-15
    historical
21. 2024-04-15
    listed $1,600,000 Active

ⓘ 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: $15,680 · $1,307/mo
• Projected year-2 tax: $21,360 · $1,780/mo
• Expected delta: +$5,680/yr (+$473/mo · 36.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $179,616
• − Mortgage interest: −$89,625
• − Property taxes: −$15,680
• − Insurance: −$8,000
• − Repairs & maintenance: −$14,369
• − Management: −$14,369
• − Depreciation: −$46,545
• Taxable loss: −$8,973
• Est. tax savings @ 24.0%: +$2,154
• After-tax cash flow: $19,683/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

+0.0% since first listed

7 events — show timeline

• 2026-01-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-25 Listed $1,600,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-10-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-04-15 Listed $1,600,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2025): $15,680 · -8.7% YoY. Source: county tax records.