590 E Third St Unit 4O · Mount Vernon, NY 10553

$229,000

2 bd · 1.0 ba · 1,100 sqft · Condo · 589 Days on market

Built 1928

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BACK ON THE MARKET. This spacious and beautifully maintained 2.5-bedroom cooperative features gleaming hardwood floors and stunning views, and is ready for the perfect family to call it home. Ideally located near the City of Pelham, where restaurants, shopping, and everyday conveniences are just minutes away. The Hutchinson River Parkway is nearby, offering easy access to major highways for a seamless commute. Comfort, convenience, and charm — all in one place. . This building has it own convenient laundry room, bicycle and storage, in the sublevel.

Key facts

• Laundry room
• Bonus room
• Hardwood floors

Tags

• HARDWOOD FLOORS
• STAINLESS STEEL APPLIANCES
• BONUS ROOM
• LAUNDRY ROOM

Property features AI

Finance

• Other: Directions: GPS/Waze
• HOA & community: Association: Westchester Property; Building amenities include elevators and a park; Association fee includes heat, hot water, sewer and water

Exterior

• Parking: On-street parking
• Utilities: Electric service by Con-Edison; Public sewer; Public trash collection
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Near public transit; Near schools; Near shops; Views; Not waterfront

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: Total rooms: 6
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Radiant heat; Wall/window air conditioning units
• Interior features: Formal dining area; Bicycle room; Dining area
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $804 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Zoned schools: Cecil H Parker School (math 12% / reading 32%, grade F, #1,923 of 2,108 statewide, top 92%, 256 students, 80% 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 78% FRL vs 62% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 47 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 3.0% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 589 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask is 21% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 589 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.05%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $14,170
• Equity at exit: $34,145

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $78,493
• Equity at exit: $19,800

Cash invested: $64,120 (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 10553

• Active inventory: 47
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,021 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $804

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 68%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	7d	1	0.69mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	18d	1	0.73mi
10 9th St Unit 2 New Rochelle, NY	2.0	1.0	1185	$2,850	$2.41	43d	1	0.75mi
9 9th St Unit 1st Floor New Rochelle, NY	3.0	1.0	1463	$3,400	$2.32	43d	1	0.77mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	43d	1	0.77mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	24d	1	0.79mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	0.79mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	24d	1	0.92mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	18d	1	0.93mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	43d	1	0.96mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	0.96mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	4d	1	0.99mi
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	7d	1	1.02mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	43d	1	1.03mi
607 S 5th Ave Unit 2ND Mt Vernon, NY	3.0	1.0	1200	$3,400	$2.83	24d	1	1.14mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	43d	1	1.16mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	4d	1	1.18mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	17d	1	1.18mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.18mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	43d	1	1.20mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	43d	1	1.22mi
60 Saint Pauls Pl Mount Vernon, NY	3.0	1.0	1100	$3,000	$2.73	24d	1	1.24mi
173 Crary Ave Mount Vernon, NY	3.0	2.0	1100	$3,100	$2.82	24d	1	1.26mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	7d	1	1.31mi
421 S 10th Ave Mount Vernon, NY	3.0	1.0	1200	$3,500	$2.92	24d	1	1.32mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	24d	1	1.34mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	20d	1	1.35mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	2d	1	1.38mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $229,000 Active 589 DOM
2. 2026-06-17
   days on market $229,000 Active 588 DOM
3. 2026-06-16
   days on market $229,000 Active 587 DOM
4. 2026-06-15
   days on market $229,000 Active 586 DOM
5. 2026-06-13
   days on market $229,000 Active 584 DOM
6. 2026-06-09
   days on market $229,000 Active 580 DOM
7. 2026-06-08
   days on market $229,000 Active 579 DOM
8. 2026-06-07
   days on market $229,000 Active 578 DOM
9. 2026-06-04
   days on market $229,000 Active 575 DOM
10. 2026-06-03
    days on market $229,000 Active 574 DOM
11. 2026-06-02
    days on market $229,000 Active 573 DOM
12. 2026-06-01
    days on market $229,000 Active 572 DOM
13. 2026-05-31
    days on market $229,000 Active 571 DOM
14. 2026-03-21
    price $229,000
15. 2026-03-02
    price $250,000
16. 2026-03-02
    status Active
17. 2025-08-21
    status Pending
18. 2025-04-27
    status Active
19. 2025-04-23
    historical
20. 2024-12-28
    price $220,000
21. 2024-04-23
    listed $190,000 Active
22. 2024-01-30
    historical
23. 2023-06-07
    price $154,000
24. 2023-05-12
    price $169,000
25. 2023-04-04
    price $179,000
26. 2023-01-30
    listed $189,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $36,258
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,901
• − Management: −$2,901
• − Depreciation: −$6,662
• Taxable income: $6,387
• Est. tax owed @ 24.0%: −$1,533
• After-tax cash flow: $8,120/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
• City population: 61,313
• Population (ZIP): 10,815

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 (67%)
• Race & ethnicity: Black 67% Hispanic / Latino 15% White 12% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 6% Dominican 3%
• Common ancestry: Russian 7% Lithuanian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica, Mexico
• Languages at home: 76% English-only · Spanish 11% Other Indo-European 6% German/W. Germanic 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: ▼ -114.74%
• Current HPI: 206.233
• Rent YoY: —
• Metro: —
• 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

+21.2% since first listed

13 events — show timeline

• 2026-03-21 Price Changed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-04-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-12-28 Price Changed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-23 Listed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-06-07 Price Changed $154,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-12 Price Changed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-04 Price Changed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2023-01-30 Listed $189,000 OneKey® MLS as Distributed by MLS Grid