89 Frances Ave · Harrison, NY 10528

$1,299,000

6 bd · 4.0 ba · 2,957 sqft · MultiFamily · 24 Days on market

Built 1974 Good condition 4,792 sqft lot Est $1254k · at est.

---

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 +11.3/30.0
• Schools +6.5/10.0
• ARV discount +5.9/15.0
• Rent growth +4.9/5.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• 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

Great investment opportunity! Or live in one unit, while collecting rent in other unit. This well maintained 2 family home is within walking distance to Parsons Elementary School, Metro North Train Station, parks, bus stops, restaurants and shopping. First floor unit has hardwood floors throughout, eat in kitchen with sliding door to deck, dining & living rooms, 3 bedrooms and a 2 full baths! The above ground walk out basement is finished, laundry room, large party room with wet bar. The house includes an attached oversized one car garage. The driveway can fit up to 4 cars. The property has been owner occupied since built and has been well cared for. New roof & gutters installed 2024. 2 hot water heaters installed 2024. Freshly painted. Second floor is newly renovated and wall to wall carpet throughout. Taxes do not include STAR program discount of $990. Additional Information: Amenities:Storage,ParkingFeatures:1 Car Attached,

Key facts

• Eat-in kitchen
• Hardwood floors
• 4,792 sq ft lot

Tags

• WALKING DISTANCE TO SCHOOL
• WALKING DISTANCE TO PARKS
• WALKING DISTANCE TO SHOPPING
• HARDWOOD FLOORS
• EAT-IN KITCHEN
• SLIDING DOORS TO DECK

Property features AI

Exterior

• Parking: Driveway parking; Garage with door opener; Heated garage; Total parking for 5 vehicles; 1 garage space
• Utilities: Electricity connected (Con-Edison); Natural gas connected; Public water; Public sewer; Trash collection (public)
• Home design: Duplex; Raised foundation
• Construction: Brick and shingle siding construction
• Exterior features: Balcony; Garden; Partial fencing; Covered deck

Interior

• Kitchen: Granite counters; Kitchen island; Breakfast bar; Eat-in kitchen
• Bedrooms: Two 3-bedroom units (multi-unit property)
• Flooring: Hardwood; Carpet
• Bathrooms: Four full bathrooms
• Heating & cooling: Central air; Wall/window unit(s); Baseboard heating
• Interior features: First-floor bedroom; First-floor full bathroom; Breakfast bar; Ceiling fans; Eat-in kitchen; Entrance foyer; Granite countertops; Kitchen island; Storage space; Bay windows; Blinds; Covered deck / porch
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Laundry in basement, in garage and in kitchen (multiple locations)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $1.30M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-524 ($-6k/yr) — negative. Per door: $-262/mo.
• To cash-flow at today's rent, offer at most $1.22M (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.08M (17.1% below list).
• Recommended offer: $1.08M (17.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Parsons Memorial School (math 71% / reading 62%, grade B+, #575 of 2,108 statewide, top 27%, 488 students, 24% 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 (+9.7%/yr); 63 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $10,770/mo this rent would consume 84% 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 $9k of loan paydown is wiped out by about $39k 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 24 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 2 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: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; 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 $1,077,000 (17.1% 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. 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.55%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $1,253,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Frances Ave	0.00mi	6/4.0	2,957 (0%)	17mo	$1,253,000	$424	86
6-8 Marion Ave	0.10mi	6/6.0	2,840 (-4%)	3mo	$1,355,000	$477	78
1623 Rose Ave	0.45mi	5/3.0 (-1)	2,960 (+0%)	2mo	$1,120,000	$378	69
158 Park Ave	0.25mi	5/3.0 (-1)	3,085 (+4%)	6mo	$1,200,000	$389	68
41-43 Clifford Pl	0.29mi	5/4.0 (-1)	3,038 (+3%)	11mo	$1,250,000	$411	67
56-58 Fremont St	0.23mi	6/5.0	3,358 (+14%)	1mo	$1,300,000	$387	62
115 Calvert St	0.17mi	6/2.0	2,612 (-12%)	6mo	$1,275,000	$488	60
135 Webster Ave	0.31mi	6/—	2,678 (-9%)	12mo	$999,000	$373	60
183 Park Ave	0.31mi	5/3.0 (-1)	2,549 (-14%)	2mo	$1,125,000	$441	52
7 Harris Ln	0.41mi	6/5.0	2,757 (-7%)	17mo	$1,185,000	$430	52
1416 Harrison Ave	0.62mi	6/6.0	2,976 (+1%)	14mo	$1,375,000	$462	50
195 Crotona Ave #193	0.64mi	6/5.0	3,185 (+8%)	20mo	$1,350,000	$424	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.49×
• Total profit: $-186,776
• Equity at exit: $193,685

10-year hold

• IRR: 1.7%
• Equity multiple: 1.15×
• Total profit: $54,209
• Equity at exit: $112,314

Cash invested: $363,720 (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: 63
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $10,770 high
• Mortgage (P&I): −$6,812
• Tax est. 1.5%: −$1,624 /mo · $19,485/yr
• Insurance: −$541
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,262
• Net cashflow: $-524

Break-even live

Break-even rent $11,434

Max offer price $1,223,127

Occupancy floor 100%

Sensitivity live

Price	-10% $373	-5% $-75	+0% $-524	+5% $-973	+10% $-1,422
Rent	-10% $-1,375	-5% $-950	+0% $-524	+5% $-99	+10% $326
Rate	-1.0pp $130	-0.5pp $-194	base $-524	+0.5pp $-861	+1.0pp $-1,203

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$10,770
Total (2 units)			$10,770

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: $324,750
• Closing costs: $38,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Nelson Ave Harrison, NY	5.0	4.5	3392	$12,500	$3.69	18d	1	0.59mi
625 Lorraine St Mamaroneck, NY	5.0	2.0	1926	$6,300	$3.27	0d	1	0.66mi

Listing history 15 events

1. 2026-06-21
   days on market $1,299,000 Active 24 DOM
2. 2026-06-18
   days on market $1,299,000 Active 21 DOM
3. 2026-06-17
   days on market $1,299,000 Active 20 DOM
4. 2026-06-16
   days on market $1,299,000 Active 19 DOM
5. 2026-06-15
   days on market $1,299,000 Active 18 DOM
6. 2026-06-13
   days on market $1,299,000 Active 16 DOM
7. 2026-06-13
   days on market $1,299,000 Active 15 DOM
8. 2026-06-09
   days on market $1,299,000 Active 12 DOM
9. 2026-06-08
   days on market $1,299,000 Active 11 DOM
10. 2026-06-07
    days on market $1,299,000 Active 10 DOM
11. 2026-06-04
    days on market $1,299,000 Active 7 DOM
12. 2026-06-03
    days on market $1,299,000 Active 6 DOM
13. 2026-06-02
    days on market $1,299,000 Active 5 DOM
14. 2026-06-01
    days on market $1,299,000 Active 4 DOM
15. 2026-05-31
    days on market $1,299,000 Active 3 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $129,240
• − Mortgage interest: −$72,764
• − Property taxes: −$19,485
• − Insurance: −$7,162
• − Repairs & maintenance: −$10,339
• − Management: −$10,339
• − Depreciation: −$37,789
• Taxable loss: −$28,638
• Est. tax savings @ 24.0%: +$6,873
• After-tax cash flow: $581/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This multi-family home is in good condition with cosmetic updates needed. It offers a great investment opportunity with potential for rental or resale value increase.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+10.6% since first listed

4 events — show timeline

• 2026-05-28 Listed $1,299,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-16 Sold (MLS) $1,253,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-23 Listed $1,175,000 OneKey® MLS as Distributed by MLS Grid