96 Underhill Ave Unit 2B · Harrison, NY 10604

$219,000

1 bd · 1.0 ba · 800 sqft · Condo · 31 Days on market

Built 1950

---

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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright, clean move in ready corner unit surrounded by trees located on second floor in Park Knoll Cooperative's. This unit comes with a deeded garage which is located behind unit. The unit has large closets, new stainless refrigerator, new vanity, recently painted and the rugs were shampooed. Common laundry and storage. The shares and monthly maintenance include the deeded garage without Star credit of $65 per month. Additional Information: Amenities:Storage,

Key facts

• Gas oven
• Swimming pool
• Easy street parking

Tags

• STAINLESS STEEL APPLIANCES
• GAS OVEN
• SWIMMING POOL
• DEEDED PARKING GARAGE D7
• EASY STREET PARKING
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: commute A+, employment A+, crime 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.
• Zoned schools: Samuel J Preston School (math 67% / reading 62%, grade B, #591 of 2,108 statewide, top 31%, 348 students, 27% FRL); Louis M Klein Middle School (math 51% / reading 71%, grade B+, #150 of 729 statewide, top 21%, 824 students, 22% FRL); Harrison High School (math 96%, 1,064 students, 21% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 42 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 + 4.9% rent growth), your $61k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $150k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.34% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.68%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.35×
• Total profit: $21,251
• Equity at exit: $32,654

10-year hold

• IRR: 19.4%
• Equity multiple: 2.77×
• Total profit: $108,496
• Equity at exit: $18,935

Cash invested: $61,320 (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 10604

• Home prices YoY: -19.9%
• Rents YoY: 4.9%
• Active inventory: 42
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,930 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $802

Break-even live

Break-even rent $1,916

Max offer price $219,000

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Gainsborg Ave West Harrison, NY	2.0	1.0	980	$2,800	$2.86	15d	1	0.34mi
16 Edward St Unit 2nd floor West Harrison, NY	2.0	1.0	900	$2,600	$2.89	43d	1	0.35mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	44d	1	0.42mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	43d	1	0.42mi
60 Park Ave Unit 2 West Harrison, NY	2.0	1.0	850	$2,900	$3.41	16d	1	0.44mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	20d	1	0.50mi
295 Columbus Ave Unit 1 West Harrison, NY	1.0	1.0	726	$3,600	$4.96	43d	1	0.51mi
295 Columbus Ave Unit 2 West Harrison, NY	2.0	1.0	946	$2,700	$2.85	43d	1	0.51mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	5d	1	0.53mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	24d	1	0.53mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	13d	1	0.54mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	21d	2	0.56mi
119 Park Ave Unit 2 West Harrison, NY	2.0	1.0	900	$2,900	$3.22	4d	1	0.57mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	43d	1	0.58mi
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	4d	1	0.58mi
125 Lake St Unit 6gn West Harrison, NY	2.0	2.0	1000	$3,000	$3.00	43d	1	0.62mi
125 Lake St Unit 5jn West Harrison, NY	1.0	1.0	750	$2,150	$2.87	43d	1	0.62mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	24d	1	0.64mi
150 Lincoln Ave E West Harrison, NY	1.0	1.0	1000	$2,000	$2.00	24d	1	0.65mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	44d	1	0.66mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	43d	1	0.67mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.67mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	1d	11	0.68mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	43d	1	0.68mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.71mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	1d	31	0.73mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	0.75mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	2d	1	0.76mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	2d	1	0.76mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	43d	1	0.77mi
218 Lincoln Ave Unit 2 West Harrison, NY	1.0	1.0	580	$1,885	$3.25	4d	1	0.77mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	18d	1	0.78mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	43d	17	0.78mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	43d	1	0.79mi
50 Dekalb Ave Unit N4F White Plains, NY	1.0	1.0	1000	$3,100	$3.10	20d	1	0.81mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	43d	1	0.82mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$4,038	$4.15	1d	19	0.82mi
315 Gainsborg Ave E West Harrison, NY	2.0	1.0	900	$2,700	$3.00	2d	1	0.86mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	43d	1	0.89mi
5 Cottage Pl White Plains, NY	—	1.0	577	$2,686	$4.66	13d	1	0.94mi

HOA detail condo

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

Listing history 6 events

1. 2026-03-11
   status Pending
2. 2026-02-07
   listed $219,000 Active
3. 2021-02-02
   soldstatus $150,000 Closed 466-char remark

   Show marketing remark (466 chars)

   Bright, clean move in ready corner unit surrounded by trees located on second floor in Park Knoll Cooperative's. This unit comes with a deeded garage which is located behind unit. The unit has large closets, new stainless refrigerator, new vanity, recently painted and the rugs were shampooed. Common laundry and storage. The shares and monthly maintenance include the deeded garage without Star credit of $65 per month. Additional Information: Amenities:Storage,

4. 2020-10-30
   status Pending 466-char remark

   Show marketing remark (466 chars)

   Bright, clean move in ready corner unit surrounded by trees located on second floor in Park Knoll Cooperative's. This unit comes with a deeded garage which is located behind unit. The unit has large closets, new stainless refrigerator, new vanity, recently painted and the rugs were shampooed. Common laundry and storage. The shares and monthly maintenance include the deeded garage without Star credit of $65 per month. Additional Information: Amenities:Storage,

5. 2020-09-23
   price $157,000 466-char remark

   Show marketing remark (466 chars)

   Bright, clean move in ready corner unit surrounded by trees located on second floor in Park Knoll Cooperative's. This unit comes with a deeded garage which is located behind unit. The unit has large closets, new stainless refrigerator, new vanity, recently painted and the rugs were shampooed. Common laundry and storage. The shares and monthly maintenance include the deeded garage without Star credit of $65 per month. Additional Information: Amenities:Storage,

6. 2020-06-08
   listed $161,000 Active 466-char remark

   Show marketing remark (466 chars)

   Bright, clean move in ready corner unit surrounded by trees located on second floor in Park Knoll Cooperative's. This unit comes with a deeded garage which is located behind unit. The unit has large closets, new stainless refrigerator, new vanity, recently painted and the rugs were shampooed. Common laundry and storage. The shares and monthly maintenance include the deeded garage without Star credit of $65 per month. Additional Information: Amenities:Storage,

ⓘ 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 2/10 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,164
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − Depreciation: −$6,371
• Taxable income: $6,519
• Est. tax owed @ 24.0%: −$1,565
• After-tax cash flow: $8,053/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): 12,517
• Household income: $117,014
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 600.0

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 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 6% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3% Salvadoran 1%
• Common ancestry: Scotch-Irish 4% Estonian 4% Romanian 3%
• Foreign-born: 25% · Canada, Dominican Republic, China
• Languages at home: 67% English-only · Spanish 20% Other Indo-European 10% Other Asian/Pacific 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: ▼ -65.49%
• Current HPI: 263.8376
• Rent YoY: ▲ 4.88%
• 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

+36.0% since first listed

6 events — show timeline

• 2026-03-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-07 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2021-02-02 Sold (MLS) $150,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-09-23 Price Changed $157,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-08 Listed $161,000 OneKey® MLS as Distributed by MLS Grid