590 E Third St Unit 2D · Mount Vernon, NY 10553

$155,000

1 bd · 1.0 ba · 969 sqft · Condo · 130 Days on market

Built 1900

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Well-maintained one-bedroom cooperative apartment located in Mount Vernon, directly bordering the Village of Pelham. Enjoy the convenience of being just moments from Pelham’s Metro-North station, restaurants, shops, and everyday essentials while benefiting from a more attractive price point. This well-maintained unit offers hardwood floors, classic molding details, abundant closet space, and excellent natural light throughout. The functional layout includes a large eat-in kitchen with updated cabinetry and appliances, a separate formal dining room ideal for entertaining or working from home, and a tastefully updated bathroom. The oversized bedroom comfortably accommodates a king-sized

Key facts

• Large eat-in kitchen
• Available storage
• Updated cabinetry

Tags

• LARGE EAT-IN KITCHEN
• UPDATED CABINETRY
• SEPARATE FORMAL DINING ROOM
• TASTEFULLY UPDATED BATHROOM
• ON-SITE LAUNDRY
• AVAILABLE STORAGE

Property features AI

Finance

• HOA & community: Association fee paid monthly

Exterior

• Parking: On-street parking
• Utilities: Electricity available (Con-Edison); Natural gas available; Public sewer
• Home design: Stock cooperative; Entry on level 2
• Construction: Brick construction; Basement present
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator; Freezer; Pantry
• Bedrooms: Bedroom on the first floor
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Crown molding; High ceilings; Pantry; Storage; Walk-through kitchen; Walk-in closet(s); Basement with walk-out access; 3 total rooms
• Laundry & utility: Common area laundry; Laundry in basement

🏢 Co-op / cooperative unit. The $155,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $965 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.2% 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); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Market conditions: 47 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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 $100k; list at $155k implies a 55% gain — meaningful room to come down on a strong offer.

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

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1900 — 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: 1.66% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• GRM: 5.0

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: 20.6%
• Equity multiple: 1.84×
• Total profit: $36,379
• Equity at exit: $23,111

10-year hold

• IRR: 28.8%
• Equity multiple: 3.56×
• Total profit: $110,972
• Equity at exit: $13,402

Cash invested: $43,400 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,577 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $965

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,072	-5% $1,018	+0% $965	+5% $911	+10% $858
Rent	-10% $761	-5% $863	+0% $965	+5% $1,067	+10% $1,169
Rate	-1.0pp $1,043	-0.5pp $1,004	base $965	+0.5pp $925	+1.0pp $884

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 22 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	8d	1	0.69mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	20d	1	0.73mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	26d	1	0.73mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	45d	1	0.77mi
7 Monroe St Unit 3A Mt Vernon, NY	2.0	1.0	600	$2,200	$3.67	20d	1	0.82mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	26d	1	0.92mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	20d	1	0.93mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	45d	1	0.96mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	14d	1	0.96mi
429 S 3rd Ave Mount Vernon, NY	1.0	1.0	600	$2,300	$3.83	5d	1	0.97mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	6d	1	0.99mi
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	8d	1	1.02mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	45d	1	1.03mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	45d	1	1.16mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	8d	1	1.18mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	19d	1	1.18mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	45d	1	1.20mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	8d	1	1.31mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	22d	1	1.35mi
242 Mayflower Ave Unit 1st floor New Rochelle, NY	1.0	1.0	1000	$3,000	$3.00	0d	1	1.37mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	12d	1	1.43mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	45d	1	1.44mi

HOA detail condo

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

Listing history 33 events

1. 2026-06-21
   days on market $155,000 Active 130 DOM
2. 2026-06-18
   days on market $155,000 Active 127 DOM
3. 2026-06-17
   days on market $155,000 Active 126 DOM
4. 2026-06-16
   days on market $155,000 Active 125 DOM
5. 2026-06-15
   days on market $155,000 Active 124 DOM
6. 2026-06-13
   days on market $155,000 Active 122 DOM
7. 2026-06-09
   days on market $155,000 Active 118 DOM
8. 2026-06-08
   days on market $155,000 Active 117 DOM
9. 2026-06-07
   days on market $155,000 Active 116 DOM
10. 2026-06-04
    days on market $155,000 Active 113 DOM
11. 2026-06-03
    days on market $155,000 Active 112 DOM
12. 2026-06-02
    days on market $155,000 Active 111 DOM
13. 2026-06-01
    days on market $155,000 Active 110 DOM
14. 2026-05-31
    days on market $155,000 Active 109 DOM
15. 2026-02-11
    listed $160,000 Active
16. 2026-01-07
    historical
17. 2025-12-07
    status Active
18. 2025-12-07
    price $165,000
19. 2025-08-29
    status Pending
20. 2025-07-06
    listed $155,000 Active
21. 2025-07-03
    historical
22. 2025-05-16
    price $157,000
23. 2025-03-02
    listed $165,000 Active
24. 2019-10-23
    historical
25. 2019-09-15
    historical
26. 2019-09-13
    listed $130,000 Active
27. 2019-09-13
    listed $129,000 Active
28. 2006-09-27
    soldstatus $100,000
29. 2006-07-14
    historical
30. 2006-07-14
    price $123,000
31. 2006-04-20
    listed $100,000
32. 2001-12-31
    historical
33. 2001-03-29
    listed

ⓘ 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: $30,928
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$2,474
• − Management: −$2,474
• − Depreciation: −$4,509
• Taxable income: $9,688
• Est. tax owed @ 24.0%: −$2,325
• After-tax cash flow: $9,254/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

+60.0% since first listed

19 events — show timeline

• 2026-02-11 Listed $160,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-07 Price Changed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-07-06 Listed $155,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-16 Price Changed $157,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-02 Listed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-13 Listed $129,000 OneKey® MLS as Distributed by MLS Grid
• 2019-09-13 Listed $130,000 OneKey® MLS as Distributed by MLS Grid
• 2006-09-27 Sold (MLS) $100,000 HGMLS
• 2006-07-14 Price Changed $123,000 HGMLS
• 2006-07-14 Delisted — HGMLS
• 2006-04-20 Listed $100,000 HGMLS
• 2001-12-31 Delisted — HGMLS
• 2001-03-29 Listed — HGMLS