24 Chestnut Pl · Mount Vernon, NY 10553

$935,000

9 bd · 3.9 ba · — sqft · MultiFamily · 59 Days on market

Built 1908 4,792 sqft lot

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Why this score? — see what drove the C- 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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Beautiful Legal 3 Family house on a dead end block with a finished basement. Many opportunities for new owner to live rent free or investors looking for a great investment opportunity. This home is fully detached with 8 Bedrooms and 3 baths and a finished basement. The 1St floor has 3 bedrooms , second floor 3 bedrooms and the third floor 2 bedrooms. Property is located on a dead end street, near public transportation, Metro North train, Hutchinson Parkway, Interstate 95, Major stores and supermarkets. Call today to schedule a private showing (at least 24 hour notice needed). . Sold "AS IS" and please do not disturb tenants when viewing.

Key facts

• 4,792 sq ft lot
• Built 1908
• Listed 59 days

Property features AI

Exterior

• Parking: Driveway; No carport
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Triplex
• Exterior features: Vinyl siding; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units, one 2-bedroom unit, and one 1-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Oil heating; No central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $935k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $358/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $935k).
• Recommended offer: $907k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL).
• Zoned-school proficiency averages 64% at this address vs 42% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Mount Vernon School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 47 active listings in the ZIP; 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 $6k of loan paydown is wiped out by about $28k 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 59 days — a 3% lower offer ($907k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y ago; this cycle's ask is 31067% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1908 — 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 $906,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• GRM: 8.0

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	0.25mi	8/3.0 (-1)	—	0mo	$825,000	—	67
47 N Columbus Ave	0.35mi	8/3.0 (-1)	3,480	9mo	$910,000	$261	55
176 Elm Ave	0.33mi	8/2.0 (-1)	3,850	7mo	$675,000	$175	54
421 S Columbus Ave	0.36mi	10/2.0 (+1)	—	5mo	$950,000	—	53
214 E Prospect Ave	0.48mi	10/5.0 (+1)	—	3mo	$960,000	—	53
563 E 3rd St	0.42mi	9/6.0	3,366	8mo	$1,000,000	$297	53
53 Adams St	0.34mi	9/3.0	3,485	20mo	$775,000	$222	52
227 S 3rd Ave	0.57mi	8/3.0 (-1)	—	2mo	$700,000	—	51
53 Rich Ave	0.56mi	9/6.0	—	4mo	$1,275,000	—	50
304 S 1st Ave	0.51mi	9/3.0	2,614	13mo	$770,000	$295	49
215 S 1st Ave	0.46mi	8/2.0 (-1)	—	7mo	$800,000	—	48
356 S 3rd Ave	0.65mi	8/5.0 (-1)	—	14mo	$999,999	—	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-82,773
• Equity at exit: $139,412

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $17,146
• Equity at exit: $80,842

Cash invested: $261,800 (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: 23.9×

Monthly cashflow live

• Estimated rent: $9,766 high
• Mortgage (P&I): −$4,903
• Tax from tax record: −$1,347 /mo · $16,165/yr
• Insurance: −$390
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,051
• Net cashflow: $1,075

Break-even live

Break-even rent $8,405

Max offer price $935,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$9,765
Total (3 units)			$9,766

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: $233,750
• Closing costs: $28,050
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $935,000 Active 59 DOM
2. 2026-06-17
   days on market $935,000 Active 58 DOM
3. 2026-06-16
   days on market $935,000 Active 57 DOM
4. 2026-06-15
   days on market $935,000 Active 56 DOM
5. 2026-06-13
   days on market $935,000 Active 54 DOM
6. 2026-06-09
   days on market $935,000 Active 50 DOM
7. 2026-06-08
   days on market $935,000 Active 49 DOM
8. 2026-06-07
   days on market $935,000 Active 48 DOM
9. 2026-06-04
   days on market $935,000 Active 45 DOM
10. 2026-06-03
    days on market $935,000 Active 44 DOM
11. 2026-06-02
    days on market $935,000 Active 43 DOM
12. 2026-06-01
    days on market $935,000 Active 42 DOM
13. 2026-05-31
    days on market $935,000 Active 41 DOM
14. 2026-05-13
    price $935,000
15. 2026-04-20
    status Active
16. 2026-04-19
    historical $950,000
17. 2026-01-31
    historical $2,500
18. 2025-10-24
    price $2,500
19. 2025-09-20
    price $2,700
20. 2025-09-05
    listed $3,000
21. 2025-07-25
    soldstatus $870,000
22. 2025-06-11
    soldstatus $870,000 Closed 659-char remark

    Show marketing remark (659 chars)

    Beautiful Legal 3 Family house on a dead end block with a finished basement. Many opportunities for new owner to live rent free or investors looking for a great investment opportunity. This home is fully detached with 8 Bedrooms and 3 baths and a finished basement. The 1St floor has 3 bedrooms , second floor 3 bedrooms and the third floor 2 bedrooms. Property is located on a dead end street, near public transportation, Metro North train, Hutchinson Parkway, Interstate 95, Major stores and supermarkets. Call today to schedule a private showing (at least 24 hour notice needed). . Sold "AS IS" and please do not disturb tenants when viewing.

23. 2025-04-07
    status Pending 659-char remark

    Show marketing remark (659 chars)

    Beautiful Legal 3 Family house on a dead end block with a finished basement. Many opportunities for new owner to live rent free or investors looking for a great investment opportunity. This home is fully detached with 8 Bedrooms and 3 baths and a finished basement. The 1St floor has 3 bedrooms , second floor 3 bedrooms and the third floor 2 bedrooms. Property is located on a dead end street, near public transportation, Metro North train, Hutchinson Parkway, Interstate 95, Major stores and supermarkets. Call today to schedule a private showing (at least 24 hour notice needed). . Sold "AS IS" and please do not disturb tenants when viewing.

24. 2025-03-17
    listed $850,000 Active 659-char remark

    Show marketing remark (659 chars)

    Beautiful Legal 3 Family house on a dead end block with a finished basement. Many opportunities for new owner to live rent free or investors looking for a great investment opportunity. This home is fully detached with 8 Bedrooms and 3 baths and a finished basement. The 1St floor has 3 bedrooms , second floor 3 bedrooms and the third floor 2 bedrooms. Property is located on a dead end street, near public transportation, Metro North train, Hutchinson Parkway, Interstate 95, Major stores and supermarkets. Call today to schedule a private showing (at least 24 hour notice needed). . Sold "AS IS" and please do not disturb tenants when viewing.

25. 2024-12-01
    historical
26. 2024-10-11
    price $860,000
27. 2024-09-29
    listed $880,000 Active
28. 2017-12-20
    soldstatus $410,000
29. 2017-12-09
    soldstatus $410,000 Sold
30. 2017-09-25
    historical Pending
31. 2017-08-19
    listed $400,000 Active
32. 1998-01-31
    listed

ⓘ 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: $16,165 · $1,347/mo
• Projected year-2 tax: $16,165 · $1,347/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $117,192
• − Mortgage interest: −$52,375
• − Property taxes: −$16,165
• − Insurance: −$4,675
• − Repairs & maintenance: −$9,375
• − Management: −$9,375
• − Depreciation: −$27,200
• Taxable loss: −$1,974
• Est. tax savings @ 24.0%: +$474
• After-tax cash flow: $13,376/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

+133.8% since first listed

19 events — show timeline

• 2026-05-13 Price Changed $935,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-19 Coming Soon $950,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-31 Rental Removed $2,500 RENTEC
• 2025-10-24 Price Changed $2,500 RENTEC
• 2025-09-20 Price Changed $2,700 RENTEC
• 2025-09-05 Listed for Rent $3,000 RENTEC
• 2025-07-25 Sold (Public Records) $870,000 Public Records
• 2025-06-11 Sold (MLS) $870,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-03-17 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-11 Price Changed $860,000 OneKey® MLS as Distributed by MLS Grid
• 2024-09-29 Listed $880,000 OneKey® MLS as Distributed by MLS Grid
• 2017-12-20 Sold (Public Records) $410,000 Public Records
• 2017-12-09 Sold (MLS) $410,000 OneKey® MLS as Distributed by MLS Grid
• 2017-09-25 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-08-19 Listed $400,000 OneKey® MLS as Distributed by MLS Grid
• 1998-01-31 Listed — HGMLS

Property tax history

+5.2%/yr

Latest (2025): $16,165 · +12.4% YoY. Source: county tax records.