472 Gramatan Ave Unit O2 · Mount Vernon, NY 10552

$199,000

1 bd · 1.0 ba · 727 sqft · Condo · 45 Days on market

Built 1930

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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).

• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Cash flow +6.5/30.0
• Rent growth +4.3/5.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

Key facts

• Tile in kitchen
• Close to dining
• Tile in bathroom

Tags

• HARDWOOD FLOORS REFINISHED
• TILE IN KITCHEN
• TILE IN BATHROOM
• LAUNDRY ROOM IN BASEMENT
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Exterior

• Parking: On-street parking (waitlist)
• Utilities: Con Edison electric; Public sewer; Water connected; Natural gas connected; Electricity connected; Cable available; Municipal trash collection
• Home design: Stock cooperative; One level; Entry on second floor; 5-story building
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bedrooms: 3 rooms total
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: Ceiling fan(s); Elevator; Common basement
• Laundry & utility: Common area laundry; Laundry room; Basement laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-332 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.

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: Pennington School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 426 students, 45% FRL); Mount Vernon High School (math 54% / reading 75%, grade B-, #776 of 1,100 statewide, top 73%, 1,094 students, 76% FRL) — zoned schools at 60% FRL track the district average.
• Zoned-school proficiency averages 58% at this address vs 42% district-wide (+16 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: Rents rising fast (+7.0%/yr); 125 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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 45 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $165k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent; built in 1930 — 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 $193,030 (3.0% 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 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.18% ✓
• Cap rate: 4.29%
• Cash-on-cash: -7.15%
• DSCR: 0.68
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.04% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.23×
• Total profit: $-42,942
• Equity at exit: $29,672

10-year hold

• IRR: -3.9%
• Equity multiple: 0.67×
• Total profit: $-18,206
• Equity at exit: $17,206

Cash invested: $55,720 (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 10552

• Rents YoY: 7.0%
• Active inventory: 125
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,346 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA est. from 1 same-building comp: −$810
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-332

Break-even live

Break-even rent $2,766

Max offer price $150,945

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	24d	1	0.11mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$1,850	$2.55	22d	2	0.12mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$3,956	$3.90	24d	15	0.14mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$2,841	$2.97	2d	16	0.14mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	20d	1	0.58mi
118 N Columbus Ave Mount Vernon, NY	1.0	1.0	650	$1,700	$2.62	24d	1	0.91mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	24d	1	0.94mi
13 N Bond St Mount Vernon, NY	1.0	1.0	600	$1,785	$2.98	24d	1	0.95mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.20mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	24d	1	1.24mi
7 Monroe St Unit 3A Mt Vernon, NY	2.0	1.0	600	$2,200	$3.67	19d	1	1.27mi
277 Bronx River Rd Apt 3M Yonkers, NY	—	1.0	550	$1,700	$3.09	43d	1	1.35mi

HOA detail condo

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

Listing history 30 events

1. 2026-06-18
   days on market $199,000 Active 45 DOM
2. 2026-06-17
   days on market $199,000 Active 44 DOM
3. 2026-06-16
   days on market $199,000 Active 43 DOM
4. 2026-06-15
   days on market $199,000 Active 42 DOM
5. 2026-06-13
   days on market $199,000 Active 40 DOM
6. 2026-06-09
   days on market $199,000 Active 36 DOM
7. 2026-06-08
   days on market $199,000 Active 35 DOM
8. 2026-06-07
   days on market $199,000 Active 34 DOM
9. 2026-06-04
   days on market $199,000 Active 31 DOM
10. 2026-06-03
    days on market $199,000 Active 30 DOM
11. 2026-06-02
    days on market $199,000 Active 29 DOM
12. 2026-06-01
    days on market $199,000 Active 28 DOM
13. 2026-05-31
    days on market $199,000 Active 27 DOM
14. 2026-05-04
    listed $199,000 Active
15. 2024-10-28
    soldstatus $165,000 Closed 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

16. 2024-07-11
    status Pending 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

17. 2024-03-29
    status Active 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

18. 2024-03-29
    price $165,000 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

19. 2023-09-29
    status Pending 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

20. 2023-09-01
    listed $156,000 Active 1106-char remark

    Show marketing remark (1106 chars)

    Welcome to Westchester's best kept secret located in Trendy Fleetwood, Bronxville's original home of Siwanoy Golf Club is now the very sought after 25 minute commute on Metro North to Midtown Manhattan. Located centrally and convenient to shops, popular restaurants, transportation and more. Fleetwood is now getting the popularity it deserves. Here is your opportunity to enjoy Fleetwood and it's fabulous location. This garden facing one bedroom offers an open and a spacious floor plan with all Southern Light all day long entirely facing the courtyard and is walking distance to Metro North. The apartment features an updated Eat In Kitchen with a courtyard view, and hardwood oak floors in the bedroom, living room,-and throughout. Spacious Bedroom with a large walk-in closet and updated bathroom. Wellington Court is pet friendly and offers assigned parking, laundry, and bike room. Please note that maintenance does not reflect Star deduction. Renting allowed after 5 years. One pet per household. Unit is Located in building 3. Additional Information: Amenities:Windowed Bath,Windowed Kitchen,

21. 2013-04-23
    historical
22. 2013-04-22
    historical
23. 2013-01-29
    price
24. 2012-10-18
    price
25. 2012-05-22
    listed Active
26. 2012-05-22
    listed $104,000
27. 2007-03-07
    soldstatus $133,000
28. 2007-01-12
    historical
29. 2007-01-12
    price $134,900
30. 2006-09-14
    listed $133,000

ⓘ 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: $28,149
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,252
• − Management: −$2,252
• − HOA: −$9,720
• − Depreciation: −$5,789
• Taxable loss: −$6,991
• Est. tax savings @ 24.0%: +$1,678
• After-tax cash flow: $-2,307/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): 22,341
• Household income: $96,717
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 652.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 39% White 31% Hispanic / Latino 17% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Russian 2% Estonian 2% Hispanic 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 7% 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: ▼ -393.94%
• Current HPI: 244.3166
• Rent YoY: ▲ 7.04%
• 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

+49.6% since first listed

17 events — show timeline

• 2026-05-04 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-28 Sold (MLS) $165,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-03-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-03-29 Price Changed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-09-01 Listed $156,000 OneKey® MLS as Distributed by MLS Grid
• 2013-04-23 Delisted — HGMLS
• 2013-04-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-01-29 Price Changed — HGMLS
• 2012-10-18 Price Changed — HGMLS
• 2012-05-22 Listed — HGMLS
• 2012-05-22 Listed $104,000 OneKey® MLS as Distributed by MLS Grid
• 2007-03-07 Sold (MLS) $133,000 HGMLS
• 2007-01-12 Price Changed $134,900 HGMLS
• 2007-01-12 Delisted — HGMLS
• 2006-09-14 Listed $133,000 HGMLS