3 Park Ln Unit 3H · Mount Vernon, NY 10552

$245,000

2 bd · 2.0 ba · 1,175 sqft · Condo · 38 Days on market

Built 1928

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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

Welcome to this spacious 2-bedroom, 2-bathroom co-op located in a well-maintained building in Mount Vernon. This inviting residence features a bright and comfortable living room highlighted by a charming fireplace, perfect for relaxing or entertaining. The thoughtfully designed layout offers two generously sized bedrooms and two full bathrooms, providing flexibility and convenience for a variety of living arrangements. This unit presents a wonderful opportunity to customize and make it your own. Being sold as-is by an estate, it is ideal for buyers looking to add personal touches and create their perfect home. Conveniently located near transportation, shopping, dining, and local amenities,

Key facts

• Classic appeal
• Charming fireplace
• Bright living room

Tags

• BRIGHT LIVING ROOM
• CHARMING FIREPLACE
• THOUGHTFULLY DESIGNED LAYOUT
• GENEROUSLY SIZED BEDROOMS
• FULL BATHROOMS
• CLASSIC APPEAL

Property features AI

Finance

• HOA & community: Association provides grounds maintenance, snow removal, and trash service; Additional monthly assessment of $72.63 through 12/2027

Exterior

• Parking: Assigned parking; Garage (1 space); Parking lot; Private parking; Waitlist for parking; Monthly parking fee ($60)
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity available; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; Entry level: 3; Five-story building; Three or more levels
• Construction: Brick construction
• Exterior features: Mailbox; Outdoor space

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Located between the 3rd and 5th floors
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Oil heating; No central cooling
• Interior features: Eat-in kitchen; Elevator; High ceilings; Primary bathroom; Storage; Walk-in closet(s); Double-pane windows; Basement (full)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Traphagen School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 322 students, 54% 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) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising fast (+7.0%/yr); 125 active listings in the ZIP; 34 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).
• This rent runs 35% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 $69k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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: built in 1928 — 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 $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.28%
• DSCR: 1.41
• GRM: 7.3

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $6,054
• Equity at exit: $36,530

10-year hold

• IRR: 15.4%
• Equity multiple: 2.49×
• Total profit: $102,083
• Equity at exit: $21,183

Cash invested: $68,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,815 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $531

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 76%

Sensitivity live

Price	-10% $700	-5% $615	+0% $531	+5% $446	+10% $361
Rent	-10% $308	-5% $420	+0% $531	+5% $642	+10% $753
Rate	-1.0pp $654	-0.5pp $593	base $531	+0.5pp $467	+1.0pp $403

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
148 Claremont Ave Mount Vernon, NY	2.0	1.0	960	$2,400	$2.50	19d	1	0.25mi
112 N Columbus Ave Unit 2 Mt Vernon, NY	2.0	2.0	900	$2,997	$3.33	19d	1	0.30mi
635 E Lincoln Ave Mount Vernon, NY	2.0	1.0	1000	$3,150	$3.15	7d	1	0.50mi
173 Crary Ave Mount Vernon, NY	3.0	2.0	1100	$3,100	$2.82	25d	1	0.60mi
173 Washington St Unit 1 Mt Vernon, NY	3.0	2.0	1100	$3,000	$2.73	25d	1	0.62mi
173 Washington St Unit 2 Mt Vernon, NY	3.0	2.0	1500	$3,200	$2.13	1d	1	0.63mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$2,675	$3.69	22d	2	0.81mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$5,080	$5.01	24d	15	0.86mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$3,199	$3.35	2d	16	0.86mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	25d	1	0.87mi
230 N 7th Ave Unit 2 Mt Vernon, NY	1.0	1.0	950	$2,300	$2.42	10d	1	0.87mi
12 Putnam St Mount Vernon, NY	2.0	1.0	950	$2,600	$2.74	25d	1	0.89mi
103 North St Mount Vernon, NY	1.0	1.0	720	$1,900	$2.64	21d	1	0.93mi
26 W Devonia Ave Unit 1 Mt Vernon, NY	3.0	1.5	1388	$4,200	$3.03	12d	1	0.94mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	25d	1	0.95mi
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	25d	1	0.96mi
257 S 2nd Ave Mount Vernon, NY	1.0	1.0	800	$2,250	$2.81	25d	1	1.04mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	18d	1	1.09mi
150 S 6th Ave Unit 2 Mt Vernon, NY	1.0	1.0	800	$2,500	$3.12	7d	1	1.09mi
14 Elm St Unit 2 Mt Vernon, NY	2.0	1.0	1000	$2,800	$2.80	25d	1	1.09mi
32 N Bond St Mount Vernon, NY	1.0	1.0	850	$1,900	$2.24	7d	1	1.18mi
18 N Bond St Unit 3D Mt Vernon, NY	1.0	1.0	750	$2,000	$2.67	25d	1	1.21mi
671 Bronx River Rd Unit 3A Yonkers, NY	2.0	1.5	950	$3,000	$3.16	25d	1	1.24mi
119 S 11th Ave Unit 1 Mt Vernon, NY	2.0	1.0	700	$2,800	$4.00	11d	1	1.26mi
200 Crescent Pl Unit 2nd fl Yonkers, NY	1.0	1.0	800	$2,300	$2.88	17d	1	1.26mi
119 S 13th Ave Mount Vernon, NY	2.0	1.0	800	$2,997	$3.75	13d	1	1.36mi
10 9th St Unit 2 New Rochelle, NY	2.0	1.0	1185	$2,850	$2.41	44d	1	1.40mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	44d	1	1.42mi
9 9th St Unit 1st Floor New Rochelle, NY	3.0	1.0	1463	$3,400	$2.32	44d	1	1.42mi
2325 Cortlandt St Unit 4 Mt Vernon, NY	2.0	1.0	700	$2,300	$3.29	25d	1	1.46mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	25d	1	1.47mi
86 Edgewood Ave Unit 2W Yonkers, NY	2.0	1.0	1000	$2,699	$2.70	44d	1	1.48mi
86 Edgewood Ave Apt 2E Yonkers, NY	2.0	1.0	1000	$2,599	$2.60	19d	1	1.48mi
356 S Tenth Ave Unit 2nd Floor Mt Vernon, NY	3.0	2.0	1100	$3,850	$3.50	25d	1	1.48mi

HOA detail condo

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

Listing history 10 events

1. 2026-06-07
   statusdays on market $245,000 Pending 38 DOM
2. 2026-06-04
   days on market $245,000 Active 37 DOM
3. 2026-06-03
   days on market $245,000 Active 36 DOM
4. 2026-06-02
   days on market $245,000 Active 35 DOM
5. 2026-06-01
   days on market $245,000 Active 34 DOM
6. 2026-05-31
   days on market $245,000 Active 33 DOM
7. 2026-05-04
   status Active
8. 2026-03-23
   listed $245,000 Active
9. 2007-07-11
   historical
10. 2007-01-11
    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: $33,781
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,702
• − Management: −$2,702
• − Depreciation: −$7,127
• Taxable income: $2,625
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $5,739/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

4 events — show timeline

• 2026-05-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $245,000 OneKey® MLS as Distributed by MLS Grid
• 2007-07-11 Delisted — HGMLS
• 2007-01-11 Listed — HGMLS