600 Locust St Unit 5K · Mount Vernon, NY 10552

$240,000

2 bd · 1.0 ba · 1,100 sqft · Condo · 20 Days on market

Built 1965

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +4.3/5.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPONSOR UNIT. NO BOARD APPROVAL Huge 1BR (Jr4), Unit measurements include 150 sq.ft.balcony. Extra room can be 2nd BR or Dining room. Features large living room, eat-in-kitchen, great closets. hardwood floors. Will need some TLC. Well managed, carefully maintained building. Commuter's delight - 5 mins to Fleetwood Metro North Station, 25 mins to GCT; Bus line stops outside the building. Guaranteed off street parking, with a short waiting list. Additional Information: Amenities:Storage,HeatingFuel:Oil Below Ground,

Key facts

• Private terrace
• Renovated co-op
• Ample storage

Tags

• RENOVATED CO-OP
• OVERSIZED CHEF'S KITCHEN
• PRIVATE TERRACE
• AMPLE STORAGE
• TREE-LINED SETTING

Property features AI

Finance

• HOA & community: Association: Fleetridge Owners, Inc.

Exterior

• Parking: Assigned parking; Garage; Parking lot; 1 garage space
• Utilities: Con Edison electric; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Entry level: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air conditioning unit(s)
• Interior features: Chef's kitchen; Eat-in kitchen; Elevator; Granite counters; Storage

🏢 Co-op / cooperative unit. The $240,000 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 2-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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; 39 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 $2k of loan paydown is wiped out by about $7k 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 + 7.0% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $193k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $236,400 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 7.0

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: 3.8%
• Equity multiple: 1.16×
• Total profit: $10,418
• Equity at exit: $35,785

10-year hold

• IRR: 16.9%
• Equity multiple: 2.65×
• Total profit: $110,795
• Equity at exit: $20,751

Cash invested: $67,200 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,840 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $585

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 74%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	25d	1	0.06mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	25d	1	0.14mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$2,675	$3.69	22d	2	0.14mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	25d	1	0.15mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$3,199	$3.35	2d	16	0.23mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$5,080	$5.01	24d	15	0.23mi
671 Bronx River Rd Unit 3A Yonkers, NY	2.0	1.5	950	$3,000	$3.16	25d	1	0.33mi
200 Crescent Pl Unit 2nd fl Yonkers, NY	1.0	1.0	800	$2,300	$2.88	17d	1	0.37mi
12 Putnam St Mount Vernon, NY	2.0	1.0	950	$2,600	$2.74	25d	1	0.39mi
26 W Devonia Ave Unit 1 Mt Vernon, NY	3.0	1.5	1388	$4,200	$3.03	12d	1	0.47mi
230 N 7th Ave Unit 2 Mt Vernon, NY	1.0	1.0	950	$2,300	$2.42	10d	1	0.48mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	21d	1	0.54mi
173 Crary Ave Mount Vernon, NY	3.0	2.0	1100	$3,100	$2.82	25d	1	0.57mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	25d	1	0.65mi
86 Edgewood Ave Unit 2W Yonkers, NY	2.0	1.0	1000	$2,699	$2.70	44d	1	0.68mi
86 Edgewood Ave Apt 2E Yonkers, NY	2.0	1.0	1000	$2,599	$2.60	19d	1	0.68mi
32 N Bond St Mount Vernon, NY	1.0	1.0	850	$1,900	$2.24	7d	1	0.83mi
6 Belden Ave Unit 1 Yonkers, NY	3.0	2.0	1450	$3,500	$2.41	25d	1	0.86mi
495 Kimball Ave Unit First Floor Yonkers, NY	2.0	1.0	1100	$3,000	$2.73	44d	1	0.86mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	25d	1	0.86mi
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	19d	1	0.87mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	44d	1	0.91mi
20 Overhill Pl Unit 3 Yonkers, NY	2.0	1.0	800	$3,000	$3.75	44d	1	0.93mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	25d	1	1.02mi
142 Trenchard St Unit 2E Yonkers, NY	1.0	1.0	900	$2,250	$2.50	11d	1	1.02mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	19d	1	1.08mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	25d	1	1.10mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	1.10mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.16mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.17mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.19mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	18d	1	1.19mi
119 S 13th Ave Mount Vernon, NY	2.0	1.0	800	$2,997	$3.75	13d	1	1.21mi
255 Bronx River Rd Unit 4R Yonkers, NY	1.0	1.0	800	$2,250	$2.81	24d	1	1.26mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	25d	1	1.37mi
14 Chamberlain Ave Unit 1 Yonkers, NY	2.0	2.0	1150	$4,200	$3.65	10d	1	1.42mi
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	7d	1	1.45mi
23 Alida St Unit 2s Yonkers, NY	2.0	1.0	1000	$2,900	$2.90	25d	1	1.48mi
36 Dunwoodie St Unit 1 Yonkers, NY	3.0	1.0	1300	$3,500	$2.69	44d	1	1.49mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $240,000 Active 20 DOM
2. 2026-06-17
   days on market $240,000 Active 19 DOM
3. 2026-06-16
   days on market $240,000 Active 18 DOM
4. 2026-06-15
   days on market $240,000 Active 17 DOM
5. 2026-06-13
   days on market $240,000 Active 15 DOM
6. 2026-06-09
   days on market $240,000 Active 11 DOM
7. 2026-06-08
   days on market $240,000 Active 10 DOM
8. 2026-06-07
   days on market $240,000 Active 9 DOM
9. 2026-06-04
   days on market $240,000 Active 6 DOM
10. 2026-06-03
    days on market $240,000 Active 5 DOM
11. 2026-06-02
    days on market $240,000 Active 4 DOM
12. 2026-06-01
    days on market $240,000 Active 3 DOM
13. 2026-05-31
    days on market $240,000 Active 2 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 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: $34,078
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,726
• − Management: −$2,726
• − Depreciation: −$6,982
• Taxable income: $3,400
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $6,203/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

+20.6% since first listed

4 events — show timeline

• 2026-05-29 Listed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2019-09-12 Sold (MLS) $193,250 OneKey® MLS as Distributed by MLS Grid
• 2019-07-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-06-03 Listed $199,000 OneKey® MLS as Distributed by MLS Grid