12 Martens Pl · Mount Vernon, NY 10550

$849,999

8 bd · 3.0 ba · — sqft · MultiFamily · 111 Days on market

Built 1920 6,970 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• 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: 2 units. confirmed

Listing remarks MLS

2 Family Home, Completely Gutted, Cash Offers Only.

Key facts

• 6,970 sq ft lot
• Built 1920
• Listed 111 days

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative. Per door: $-59/mo.
• To cash-flow at today's rent, offer at most $829k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $743k (12.5% below list).
• Recommended offer: $743k (12.5% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $7,434/mo this rent would consume 147% 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 $26k 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 111 days — a 9% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $100k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $415k; list at $850k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $743,400 (12.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.87% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.5

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
12 Martens Pl	0.00mi	8/3.0	—	0mo	$825,000	—	87
227 S 3rd Ave	0.39mi	8/3.0	—	2mo	$700,000	—	68
176 Elm Ave	0.22mi	8/2.0	3,850	7mo	$675,000	$175	68
215 S 1st Ave	0.28mi	8/2.0	—	7mo	$800,000	—	65
47 N Columbus Ave	0.37mi	8/3.0	3,480	9mo	$910,000	$261	63
112 N Columbus Ave	0.39mi	7/4.0 (-1)	2,500	3mo	$900,000	$360	58
450-452 Franklin Ave	0.57mi	7/3.0 (-1)	—	5mo	$740,000	—	52
53 Rich Ave	0.36mi	9/6.0 (+1)	—	4mo	$1,275,000	—	50
418 S 1st Ave	0.55mi	7/4.0 (-1)	3,128	6mo	$919,000	$294	48
130 Urban St	0.71mi	7/3.0 (-1)	2,475	9mo	$840,000	$339	42
243 Summit Ave	0.70mi	8/6.0	6,820	1mo	$982,400	$144	42
563 E 3rd St	0.67mi	9/6.0 (+1)	3,366	8mo	$1,000,000	$297	33

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-142,260
• Equity at exit: $126,738

10-year hold

• IRR: -8.0%
• Equity multiple: 0.49×
• Total profit: $-121,285
• Equity at exit: $73,492

Cash invested: $238,000 (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 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $7,434 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$1,179 /mo · $14,145/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,561
• Net cashflow: $-118

Break-even live

Break-even rent $7,583

Max offer price $829,239

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$7,434
Total (2 units)			$7,434

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-02-20
   status Pending
2. 2026-01-02
   status Active
3. 2026-01-02
   historical
4. 2025-12-12
   price $849,999
5. 2025-11-14
   price $899,000
6. 2025-11-02
   listed $950,000 Active
7. 2025-11-01
   historical $950,000
8. 2025-02-12
   soldstatus $415,000
9. 2025-01-24
   soldstatus $415,000 Closed 51-char remark

   Show marketing remark (51 chars)

   2 Family Home, Completely Gutted, Cash Offers Only.

10. 2025-01-22
    status Pending 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

11. 2024-12-05
    status Active 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

12. 2024-12-05
    price $399,999 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

13. 2024-11-29
    status Pending 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

14. 2024-09-04
    price $349,999 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

15. 2024-07-25
    listed $399,999 Active 51-char remark

    Show marketing remark (51 chars)

    2 Family Home, Completely Gutted, Cash Offers Only.

16. 2002-11-29
    soldstatus $325,000
17. 2002-10-13
    soldstatus $325,000 67-char remark

    Show marketing remark (67 chars)

    Move-in Condition Two Family. New Roof, Windows, Bath, And Kitchen.

18. 2002-08-06
    price $349,000 67-char remark

    Show marketing remark (67 chars)

    Move-in Condition Two Family. New Roof, Windows, Bath, And Kitchen.

19. 2002-08-06
    historical 67-char remark

    Show marketing remark (67 chars)

    Move-in Condition Two Family. New Roof, Windows, Bath, And Kitchen.

20. 2002-06-01
    listed $325,000 67-char remark

    Show marketing remark (67 chars)

    Move-in Condition Two Family. New Roof, Windows, Bath, And Kitchen.

21. 2000-10-12
    soldstatus $198,000
22. 2000-08-07
    soldstatus $190,000
23. 2000-04-27
    historical
24. 2000-04-27
    price $199,000
25. 1999-06-29
    listed $190,000
26. 1982-12-01
    soldstatus $10,500

ⓘ 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: $14,145 · $1,179/mo
• Projected year-2 tax: $14,255 · $1,188/mo
• Expected delta: +$110/yr (+$9/mo · 0.8%)

ⓘ 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: $89,208
• − Mortgage interest: −$47,613
• − Property taxes: −$14,145
• − Insurance: −$4,250
• − Repairs & maintenance: −$7,137
• − Management: −$7,137
• − Depreciation: −$24,727
• Taxable loss: −$15,800
• Est. tax savings @ 24.0%: +$3,792
• After-tax cash flow: $2,382/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

+7995.2% since first listed

26 events — show timeline

• 2026-02-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $849,999 OneKey® MLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $899,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-02 Listed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-01 Coming Soon $950,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-12 Sold (Public Records) $415,000 Public Records
• 2025-01-24 Sold (MLS) $415,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-12-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-12-05 Price Changed $399,999 OneKey® MLS as Distributed by MLS Grid
• 2024-11-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-09-04 Price Changed $349,999 OneKey® MLS as Distributed by MLS Grid
• 2024-07-25 Listed $399,999 OneKey® MLS as Distributed by MLS Grid
• 2002-11-29 Sold (Public Records) $325,000 Public Records
• 2002-10-13 Sold (MLS) $325,000 HGMLS
• 2002-08-06 Delisted — HGMLS
• 2002-08-06 Price Changed $349,000 HGMLS
• 2002-06-01 Listed $325,000 HGMLS
• 2000-10-12 Sold (Public Records) $198,000 Public Records
• 2000-08-07 Sold (MLS) $190,000 HGMLS
• 2000-04-27 Price Changed $199,000 HGMLS
• 2000-04-27 Delisted — HGMLS
• 1999-06-29 Listed $190,000 HGMLS
• 1982-12-01 Sold (Public Records) $10,500 Public Records

Property tax history

+2.2%/yr

Latest (2025): $14,145 · +2.1% YoY. Source: county tax records.