450 Pelham Rd Unit 2E · New Rochelle, NY 10805

$145,000

1 bd · 1.0 ba · 750 sqft · Condo · 32 Days on market

Built 1950 Average condition $193/sqft · 15% below area Est $171k · 15% under ↓ 3% since listing

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Why this score? — see what drove the A- 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
• ARV discount +14.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.7/10.0
• Appreciation +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks

Needs renovations and is priced accordingly! This spacious one-bedroom co-op offers a fantastic opportunity for a buyer looking to customize and add value. The unit would benefit from new flooring and cosmetic updates, with an estimated renovation cost of approximately $10,000, making it an ideal opportunity to create your dream home while building equity. Features include a large living room, eat-in kitchen, oversized bedroom with great natural light, and ample closet space throughout. Located in a charming garden-style complex, the property is conveniently situated near transportation, shopping, dining, Glen Island Park, and local beaches. Pet-friendly with one pet under 25 lbs permitted.

Key facts

• Great natural light
• Oversized bedroom
• Eat in kitchen

Tags

• LARGE LIVING ROOM
• EAT IN KITCHEN
• OVERSIZED BEDROOM
• GREAT NATURAL LIGHT
• AMPLE CLOSET SPACE
• ASSIGNED PARKING

Property features AI

Exterior

• Parking: Assigned parking; One-car garage; Parking fee applicable ($60)
• Utilities: Electric service by Con-Edison; Public sewer
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning unit(s)
• Interior features: First-floor bedroom; No basement; 4 total rooms
• Laundry & utility: Trash collection is public

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $979 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: Jefferson Elementary School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 478 students, 70% 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 68% FRL vs 41% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $2k 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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1950 — 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1950 — 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. 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: 1.73% ✓
• Cap rate: 14.39%
• Cash-on-cash: 28.93%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $170,754
• List price: $145,000
• Delta: -15.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.5%
• Equity multiple: 2.19×
• Total profit: $48,368
• Equity at exit: $31,711

10-year hold

• IRR: 32.1%
• Equity multiple: 4.23×
• Total profit: $131,238
• Equity at exit: $30,570

Cash invested: $40,600 (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 10805

• Home prices YoY: -0.5%
• Active inventory: 84
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,507 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $979

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,079	-5% $1,029	+0% $979	+5% $929	+10% $879
Rent	-10% $781	-5% $880	+0% $979	+5% $1,078	+10% $1,177
Rate	-1.0pp $1,052	-0.5pp $1,016	base $979	+0.5pp $941	+1.0pp $903

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: $36,250
• Closing costs: $4,350
• 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	$3,052	$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	32	0.86mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	0d	5	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	847	$3,562	$4.20	0d	12	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	49	1.00mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	826	$3,795	$4.59	0d	15	1.06mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,845	$3.17	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	14d	1	1.34mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	45d	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
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $145,000 Active 32 DOM
2. 2026-06-18
   days on market $145,000 Active 29 DOM
3. 2026-06-17
   days on market $145,000 Active 28 DOM
4. 2026-06-16
   days on market $145,000 Active 27 DOM
5. 2026-06-15
   days on market $145,000 Active 26 DOM
6. 2026-06-13
   days on market $145,000 Active 24 DOM
7. 2026-06-09
   days on market $145,000 Active 20 DOM
8. 2026-06-08
   days on market $145,000 Active 19 DOM
9. 2026-06-07
   days on market $145,000 Active 18 DOM
10. 2026-06-04
    days on market $145,000 Active 15 DOM
11. 2026-06-03
    days on market $145,000 Active 14 DOM
12. 2026-06-02
    days on market $145,000 Active 13 DOM
13. 2026-06-02
    pricedays on market $145,000 Active 12 DOM
14. 2026-05-10
    listed $150,000 Active 758-char remark

ⓘ 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: $30,089
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,407
• − Management: −$2,407
• − Depreciation: −$4,218
• Taxable income: $10,035
• Est. tax owed @ 24.0%: −$2,408
• After-tax cash flow: $9,337/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.

Condition & rehab AI · 6 photos

Average 55/100 Cosmetic rehab

This one-bedroom co-op in a charming garden-style complex offers a good opportunity for cosmetic updates to enhance its resale and rental value.

Repairs flagged

• Minor Entryway flooring — Some wear visible on the flooring in the entryway.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the appearance and value of the home.
• Both Replace entryway flooring — New flooring can enhance the home's curb appeal and interior aesthetics.
• Both Update kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Install new bathroom fixtures — Fresh fixtures can improve the home's appeal and functionality.
• Both Upgrade HVAC system — A new HVAC system can improve comfort and energy efficiency, attracting more buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and attract more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Entryway flooring · Some wear visible on the flooring in the entryway.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the appearance and value of the home. ↑
• Both Replace entryway flooring — New flooring can enhance the home's curb appeal and interior aesthetics. ↑
• Both Update kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Install new bathroom fixtures — Fresh fixtures can improve the home's appeal and functionality. ↑
• Both Upgrade HVAC system — A new HVAC system can improve comfort and energy efficiency, attracting more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and attract more buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.3% since first listed

3 events — show timeline

• 2026-06-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $145,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-10 Listed $150,000 OneKey® MLS as Distributed by MLS Grid