304 Lockwood Ave · New Rochelle, NY 10801

$785,000

6 bd · 3.0 ba · 2,500 sqft · MultiFamily · 29 Days on market

Built 1906 3,484 sqft lot Est $880k · 11% under

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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 +25.8/30.0
• ARV discount +12.4/15.0
• DSCR +8.6/10.0
• 1% rule +6.6/10.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 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

Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

Key facts

• Tenant occupied
• Large backyard
• Electric meters

Tags

• TENANT OCCUPIED
• LARGE BACKYARD
• GREAT STORAGE SPACE
• NEW ROOF
• NATURAL GAS METER
• ELECTRIC METERS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Con Edison electric service; Public sewer; Natural gas connected
• Home design: Triplex; Estimated condition
• Construction: Frame construction
• Exterior features: Back yard; Level lot; Near school

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Combination flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Main bedroom on ground level; Storage space; Basement access via Bilco doors
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $785k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $632/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $785k).
• Recommended offer: $773k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Zoned schools: Columbus Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 669 students, 84% FRL); Isaac E Young Middle School (math 47% / reading 62%, grade B-, #214 of 729 statewide, top 31%, 1,138 students, 76% FRL); New Rochelle High School (math 87% / reading 72%, grade A-, #518 of 1,100 statewide, top 51%, 3,076 students, 57% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $9,136/mo this rent would consume 128% of the median local household income ($86k/yr) (locally 2797% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $24k 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 29 days — a 2% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $310k; list at $785k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $773,225 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.16% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.36%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $880,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Saint Johns Pl	0.07mi	5/3.0 (-1)	2,400 (-4%)	22mo	$693,000	$289	67
44 Rockdale Ave	0.58mi	6/3.0	2,229 (-11%)	3mo	$785,000	$352	52
23 Colonial Pl	0.31mi	5/3.0 (-1)	2,721 (+9%)	23mo	$847,500	$311	47
123 Clinton Ave	0.68mi	7/2.0 (+1)	2,311 (-8%)	10mo	$870,000	$376	38
100 Horton Ave	0.62mi	5/3.0 (-1)	2,242 (-10%)	18mo	$800,000	$357	34

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-20,578
• Equity at exit: $117,046

10-year hold

• IRR: 5.4%
• Equity multiple: 1.37×
• Total profit: $81,153
• Equity at exit: $67,872

Cash invested: $219,800 (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 10801

• Rents YoY: 1.4%
• Active inventory: 138
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $9,136 high
• Mortgage (P&I): −$4,117
• Tax from tax record: −$876 /mo · $10,515/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,919
• Net cashflow: $1,897

Break-even live

Break-even rent $6,734

Max offer price $785,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,342	-5% $2,120	+0% $1,897	+5% $1,675	+10% $1,453
Rent	-10% $1,176	-5% $1,537	+0% $1,897	+5% $2,258	+10% $2,619
Rate	-1.0pp $2,293	-0.5pp $2,097	base $1,897	+0.5pp $1,694	+1.0pp $1,487

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$9,135
Total (3 units)			$9,136

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: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72 Chauncey Ave New Rochelle, NY	5.0	1.0	2406	$4,500	$1.87	22d	1	0.81mi

Listing history 29 events

1. 2026-06-18
   days on market $785,000 Active 29 DOM
2. 2026-06-17
   days on market $785,000 Active 28 DOM
3. 2026-06-16
   days on market $785,000 Active 27 DOM
4. 2026-06-15
   days on market $785,000 Active 26 DOM
5. 2026-06-13
   days on market $785,000 Active 24 DOM
6. 2026-06-09
   days on market $785,000 Active 20 DOM
7. 2026-06-08
   days on market $785,000 Active 19 DOM
8. 2026-06-07
   days on market $785,000 Active 18 DOM
9. 2026-06-04
   days on market $785,000 Active 15 DOM
10. 2026-06-03
    days on market $785,000 Active 14 DOM
11. 2026-06-02
    days on market $785,000 Active 13 DOM
12. 2026-06-01
    days on market $785,000 Active 12 DOM
13. 2026-05-31
    days on market $785,000 Active 11 DOM
14. 2026-05-19
    listed $785,000 Active
15. 2022-07-25
    historical
16. 2022-07-11
    price $700,000
17. 2022-07-11
    status Active
18. 2022-05-31
    status Pending
19. 2022-04-09
    historical
20. 2022-04-01
    listed $750,000 Active
21. 2022-03-31
    historical
22. 2014-03-15
    price $310,000 272-char remark

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

23. 2013-02-06
    soldstatus $310,000 Sold 272-char remark

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

24. 2013-02-06
    soldstatus $310,000

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

25. 2012-09-11
    historical Pending 272-char remark

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

26. 2012-09-10
    price $349,000 272-char remark

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

27. 2012-07-24
    listed $349,000 Active 272-char remark

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

28. 2012-07-24
    listed $349,000

    Show marketing remark (272 chars)

    Marvelous investment opportunity. Three family house with good rental income. Excellent for first time home buyers. Live in one unit and have the two other unites pay for your mortgage. This is a short sale and bank is willing to cooperate to make it a smooth transaction.

29. 2007-02-20
    soldstatus $575,000

ⓘ 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: $10,515 · $876/mo
• Projected year-2 tax: $11,891 · $991/mo
• Expected delta: +$1,376/yr (+$115/mo · 13.1%)

ⓘ 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: $109,632
• − Mortgage interest: −$43,972
• − Property taxes: −$10,515
• − Insurance: −$3,925
• − Repairs & maintenance: −$8,771
• − Management: −$8,771
• − Depreciation: −$22,836
• Taxable income: $10,842
• Est. tax owed @ 24.0%: −$2,602
• After-tax cash flow: $20,168/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): 42,754
• Household income: $85,573
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 2797.0

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: Hispanic / Latino 36% White 30% Black 24% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 17% Puerto Rican 5% Dominican 3%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 5% French/Haitian/Cajun 4%

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: ▼ -910.37%
• Current HPI: 270.8019
• Rent YoY: ▲ 1.42%
• 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

+36.5% since first listed

16 events — show timeline

• 2026-05-19 Listed $785,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-07-11 Price Changed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2022-05-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2022-04-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-04-01 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-31 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $310,000 HGMLS
• 2013-02-06 Sold (MLS) $310,000 OneKey® MLS as Distributed by MLS Grid
• 2013-02-06 Sold (MLS) $310,000 HGMLS
• 2012-09-11 Contingent — HGMLS
• 2012-09-10 Price Changed $349,000 HGMLS
• 2012-07-24 Listed $349,000 HGMLS
• 2012-07-24 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2007-02-20 Sold (Public Records) $575,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $10,515 · -24.9% YoY. Source: county tax records.