450 Pelham Rd Unit 3H · New Rochelle, NY 10805

$185,021

1 bd · 1.0 ba · 750 sqft · Condo · 88 Days on market

Built 1949 $247/sqft · 8% above area Est $171k · 8% over

---

Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +5.7/10.0
• Appreciation +4.3/10.0
• ARV discount +3.7/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this oversized, beautifully remodeled one bedroom apartment, ideally situated in a charming garden style complex just moments from the Long Island Sound. This inviting home includes an assigned parking space at closing, offering both convenience and peace of mind. Perfectly located near transportation, shopping, dining, and the scenic beauty of Glen Island Park and nearby beaches, this apartment combines comfort with an unbeatable lifestyle. The thoughtfully designed eat in kitchen features a casual dining area, ideal for both everyday meals and relaxed entertaining. A generously sized living room provides ample space to unwind or host guests with ease. The spacious bedroom is filled with natural light from two large windows and offers two generously sized closets, providing excellent storage. Freshly painted throughout, this move in ready unit allows you to settle in and enjoy. Residents enjoy pet friendly living, with one pet under 25 pounds permitted. An assigned parking space is available, either garage for $85 per month or outdoor for $60 per month, in line with the building’s customary practice. The monthly maintenance of $1,308 includes heat, hot water, sewer, garbage collection, and taxes, adding exceptional value. Whether you are looking for a place to call home or a smart alternative to renting, this apartment presents a fantastic opportunity to enjoy easy, affordable living just moments from the shoreline.

Key facts

• Eat in kitchen
• Casual dining area
• Natural light

Tags

• ASSIGNED PARKING SPACE
• GARDEN STYLE COMPLEX
• EAT IN KITCHEN
• CASUAL DINING AREA
• GENEROUSLY SIZED LIVING ROOM
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.5% in New Rochelle — 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 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 84 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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 (-1.5%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 (-1.5% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $173,919 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.36% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.35%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (median comp): $170,754
• List price: $185,021
• Delta: 8.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.52×
• Total profit: $27,110
• Equity at exit: $40,464

10-year hold

• IRR: 18.6%
• Equity multiple: 2.79×
• Total profit: $92,732
• Equity at exit: $39,008

Cash invested: $51,806 (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 10805

• Home prices YoY: -0.5%
• Active inventory: 84
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,512 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $706

Break-even live

Break-even rent $1,619

Max offer price $185,021

Occupancy floor 67%

Sensitivity live

Price	-10% $834	-5% $770	+0% $706	+5% $642	+10% $578
Rent	-10% $507	-5% $607	+0% $706	+5% $805	+10% $904
Rate	-1.0pp $799	-0.5pp $753	base $706	+0.5pp $658	+1.0pp $609

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: $46,255
• Closing costs: $5,551
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	14d	1	0.13mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	19d	1	0.24mi
3 Harbor Ln Unit 3A New Rochelle, NY	1.0	1.0	700	$2,500	$3.57	26d	1	0.28mi
666 Pelham Rd Apt 3A New Rochelle, NY	1.0	1.0	750	$2,350	$3.13	45d	1	0.46mi
230 Pelham Rd Unit 6F New Rochelle, NY	1.0	1.0	800	$1,995	$2.49	45d	1	0.49mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	8d	1	0.53mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,150	$2.39	13d	2	0.53mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,195	$2.54	2d	2	0.53mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	8d	1	0.74mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	4d	1	0.74mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,054	$4.08	0d	10	0.77mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	757	$2,746	$3.63	0d	17	0.80mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	728	$2,099	$2.88	0d	1	0.82mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	0d	33	0.86mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	6d	6	0.88mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	777	$2,966	$3.82	0d	15	0.89mi
55 Clinton Pl New Rochelle, NY	3.0	1.0–2.0	991	$3,734	$3.77	0d	24	0.89mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	16d	1	0.94mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,548	$4.61	0d	49	0.95mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	0d	11	0.95mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	20d	1	0.96mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	0d	9	0.98mi
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	8d	1	1.00mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$2,933	$3.20	0d	50	1.00mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	826	$3,795	$4.59	0d	14	1.06mi
1 Shearwood Pl New Rochelle, NY	2.0	1.0–2.0	818	$3,160	$3.86	0d	29	1.10mi
50 Lecount Pl New Rochelle, NY	1.0	1.0	534	$2,450	$4.59	0d	1	1.16mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	6d	1	1.25mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	11d	10	1.27mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	739	$2,952	$3.99	0d	9	1.32mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	45d	1	1.34mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	14d	1	1.34mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	19d	1	1.41mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	45d	1	1.41mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	45d	1	1.43mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	45d	1	1.45mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	45d	1	1.46mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	45d	1	1.46mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	22d	1	1.49mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-21
   days on market $185,021 Active 88 DOM
2. 2026-06-18
   days on market $185,021 Active 85 DOM
3. 2026-06-17
   days on market $185,021 Active 84 DOM
4. 2026-06-16
   days on market $185,021 Active 83 DOM
5. 2026-06-15
   days on market $185,021 Active 82 DOM
6. 2026-06-13
   pricedays on market $185,021 Active 80 DOM
7. 2026-06-09
   days on market $195,021 Active 76 DOM
8. 2026-06-08
   days on market $195,021 Active 75 DOM
9. 2026-06-07
   days on market $195,021 Active 74 DOM
10. 2026-06-04
    days on market $195,021 Active 71 DOM
11. 2026-06-03
    days on market $195,021 Active 70 DOM
12. 2026-06-02
    days on market $195,021 Active 69 DOM
13. 2026-06-01
    days on market $195,021 Active 68 DOM
14. 2026-05-31
    days on market $195,021 Active 67 DOM
15. 2026-03-25
    listed $195,021 Active 1457-char remark

    Show marketing remark (1457 chars)

    Welcome to this oversized, beautifully remodeled one bedroom apartment, ideally situated in a charming garden style complex just moments from the Long Island Sound. This inviting home includes an assigned parking space at closing, offering both convenience and peace of mind. Perfectly located near transportation, shopping, dining, and the scenic beauty of Glen Island Park and nearby beaches, this apartment combines comfort with an unbeatable lifestyle. The thoughtfully designed eat in kitchen features a casual dining area, ideal for both everyday meals and relaxed entertaining. A generously sized living room provides ample space to unwind or host guests with ease. The spacious bedroom is filled with natural light from two large windows and offers two generously sized closets, providing excellent storage. Freshly painted throughout, this move in ready unit allows you to settle in and enjoy. Residents enjoy pet friendly living, with one pet under 25 pounds permitted. An assigned parking space is available, either garage for $85 per month or outdoor for $60 per month, in line with the building’s customary practice. The monthly maintenance of $1,308 includes heat, hot water, sewer, garbage collection, and taxes, adding exceptional value. Whether you are looking for a place to call home or a smart alternative to renting, this apartment presents a fantastic opportunity to enjoy easy, affordable living just moments from the shoreline.

16. 2022-11-23
    soldstatus $171,000 Closed 556-char remark

    Show marketing remark (556 chars)

    Beautifully updated and large one bedroom, one bath unit in desirable location on Pelham Road in New Rochelle. This second level unit offers plenty of closet space, a large living room, peekaboo kitchen with new stainless steel appliances, freshly updated bath, on-site parking, and most importantly is pet friendly. Own this lovely unit with 20% down payment for under $1,875.00 per month including mortgage, monthly maintenance, parking, heat, hot water, and water. Great opportunity, call us today! Additional Information: HeatingFuel:Oil Above Ground,

17. 2022-10-12
    status Pending 556-char remark

    Show marketing remark (556 chars)

    Beautifully updated and large one bedroom, one bath unit in desirable location on Pelham Road in New Rochelle. This second level unit offers plenty of closet space, a large living room, peekaboo kitchen with new stainless steel appliances, freshly updated bath, on-site parking, and most importantly is pet friendly. Own this lovely unit with 20% down payment for under $1,875.00 per month including mortgage, monthly maintenance, parking, heat, hot water, and water. Great opportunity, call us today! Additional Information: HeatingFuel:Oil Above Ground,

18. 2022-09-08
    price $178,000 556-char remark

    Show marketing remark (556 chars)

    Beautifully updated and large one bedroom, one bath unit in desirable location on Pelham Road in New Rochelle. This second level unit offers plenty of closet space, a large living room, peekaboo kitchen with new stainless steel appliances, freshly updated bath, on-site parking, and most importantly is pet friendly. Own this lovely unit with 20% down payment for under $1,875.00 per month including mortgage, monthly maintenance, parking, heat, hot water, and water. Great opportunity, call us today! Additional Information: HeatingFuel:Oil Above Ground,

19. 2022-07-27
    price $180,000 556-char remark

    Show marketing remark (556 chars)

    Beautifully updated and large one bedroom, one bath unit in desirable location on Pelham Road in New Rochelle. This second level unit offers plenty of closet space, a large living room, peekaboo kitchen with new stainless steel appliances, freshly updated bath, on-site parking, and most importantly is pet friendly. Own this lovely unit with 20% down payment for under $1,875.00 per month including mortgage, monthly maintenance, parking, heat, hot water, and water. Great opportunity, call us today! Additional Information: HeatingFuel:Oil Above Ground,

20. 2022-06-28
    listed $185,000 Active 556-char remark

    Show marketing remark (556 chars)

    Beautifully updated and large one bedroom, one bath unit in desirable location on Pelham Road in New Rochelle. This second level unit offers plenty of closet space, a large living room, peekaboo kitchen with new stainless steel appliances, freshly updated bath, on-site parking, and most importantly is pet friendly. Own this lovely unit with 20% down payment for under $1,875.00 per month including mortgage, monthly maintenance, parking, heat, hot water, and water. Great opportunity, call us today! Additional Information: HeatingFuel:Oil Above Ground,

21. 2019-08-22
    soldstatus $121,000 Sold
22. 2019-04-25
    status Pending
23. 2019-03-01
    listed $129,021 Active

ⓘ 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: $30,143
• − Mortgage interest: −$10,364
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$5,382
• Taxable income: $5,873
• Est. tax owed @ 24.0%: −$1,410
• After-tax cash flow: $7,060/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: New Rochelle City School District
• NCES district ID: 3620490
• Math proficiency: 63% ▲ 3.00%
• Reading proficiency: 66% ▲ 9.00%
• Median HH income: $69,165
• Composite: 56.63/100
• National rank: #1139
• State rank: #171 of 590 in NY

Livability — New Rochelle

• Score: 69/100
• State rank: #487
• US rank: #8572

Category grades

Amenities B+ Commute F Cost of living F Crime A Employment A+ Housing D+ Health & safety B+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Rochelle, NY
• County: Westchester County · 709,332 people
• City population: 63,657
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,903
• Household income: $102,109
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 961.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 39% White 38% Black 17% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 15% Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 2% Russian 1% Scotch-Irish 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 7% German/W. Germanic 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: ▼ -1.48%
• Current HPI: 278.8511
• Rent YoY: —
• 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

+51.2% since first listed

9 events — show timeline

• 2026-03-25 Listed $195,021 OneKey® MLS as Distributed by MLS Grid
• 2022-11-23 Sold (MLS) $171,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-09-08 Price Changed $178,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-27 Price Changed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-28 Listed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2019-08-22 Sold (MLS) $121,000 OneKey® MLS as Distributed by MLS Grid
• 2019-04-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-03-01 Listed $129,021 OneKey® MLS as Distributed by MLS Grid